Automation and unemployment

Paul Cockshott wpc at
Mon Sep 4 21:32:52 MDT 1995

Over the period that Mauro identifies as being
characterised by an accelerated rate of increase in
productivity in the UK, there was also net capital
decumulation. See the paper by Allin Cottrell, Greg
Michaelson and I in the Spring 95 edition of capital
and class. I would suggest that this is the real
cause of rising unemeployment.

To understand accumulation and employment you have
to argue at the level of values not output in
physical terms.

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