From: Rakesh Bhandari (bhandari@BERKELEY.EDU)
Date: Tue Oct 30 2007 - 18:56:15 EDT
> > Just to mention one stylised fact: The profit rates achieved after > the enormous destruction of physical capital (and the switch from > elite to mass consumption of cars, electrical articles, chemical > products etc.) that we saw in the decades after the II WW - will be > hard to repeat. That profit rates will be temporarily restored when > the workers movement suffers defeats - f.ex. by the neo-liberal > offensive - point again to the cyclical nature of the accumulation > process which the tendency of the profit rate fall in an > *organic/endogenous* interplay with the counteracting tendencies creates. But Anders labor is flat on its back in the US. The NRLB has been fully captured, unit labor costs have fallen, workers can be fired without cause, employers coerce workers with threat of relocation or part time work without medical benefits if they don't accept reduced wages, overtime hours are shaved all the time...yet productive investment in the US is stagnant. Yours, Rakesh
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