The Costs of the Social Reproduction of Labor

dmschanoes dmschanoes at
Sat Aug 30 16:57:27 MDT 2003

>From the hardcopy FT 082003 (web access fee based:


"...General Motors, spends more on healthcare for pensioners than it does on

On each one of the 5.5 million vehicles churned out by GM's north American
factories, healthcare for pensioners cost more than $1300, well above the
steel cost.

For GM,the world's largest buyer of steel, this is a disaster....

At the end of last year, GM's post-retirement benefits-- almost exclusively
healthcare-- were $51 billion underfunded.  The benefits added $4.1 billion
to its costs last year, and are expected to cost $4.5 billion this year,
almost double its forecast for profits...

For many companies, the solution is simple: cut benefits.  Almost one in 10
...companies employing more than 200 people stopped healthcare benfits for
pensioners in 2001-2002."

Article only forgot to add:  "QED"


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