wpc at clyder.gn.apc.org
Sat Sep 2 01:11:31 MDT 1995
Regarding unemployment, the state is limited in what it can do in the
following way: it can influence unemployment and create jobs (through
fiscal and monetary policy, for instance), but it can not *control* the
capitalist accumulation process. Ensuring full employment isn't merely
a question of passing laws but is a goal (if it is selected) which the
state can not guarantee because they can not guarantee what will happen
in the course of the international accumulation of capital.
Is this true.
Might it not be more accurate to say that, because of the political
dominance of the property owning classes the refrain from controling
There is nothing economically impossible about a modification to
company law that allowed the government to specify the maximum
permisible level of dividends as a percentage of net capital
accumulation. This would give the state a very powerfull instrument
over the level of accumulation.
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