From: glevy@PRATT.EDU
Date: Sat Sep 29 2007 - 06:54:49 EDT
> (2)"Focused on restoring profit rates, corporations > unleashed a brutal offensive against workers. They > increased productivity growth, not so much by > investing in equipment as by cutting back on jobs and > compelling employees to take up the slack. They held > down wages as they squeezed more output per person, > allowing them to appropriate an entirely unprecedented > share of the increase that took place in net > non-financial GDP." <snip> > If what is described in > (2) is true, then the rate of profits must rise. Hi again Ajit: Not necessarily: one could claim that if (2) were true then the rate of profit could still fall but not as sharply. In solidarity, Jerry
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