[Marxism] Letter from the US: Recovery for the rich, depression for the poor

Stuart Munckton stuartmunckton at gmail.com
Sun Jun 3 00:00:06 MDT 2012

Barry Sheppard

Workers in the United States know they are losing ground in the current
Depression, as they are watching the rich going in the opposite direction.

A decline in real wages comes on top of stagnation of wages in the three
previous decades.

A new report issued by the International Monetary Fund (IMF) says: “The
recent recovery in the United States appears unusual from a historical
perspective … with a much stronger rebound in profits relative to labor

“One explanation is that workers’ fear of long-term unemployment has led to
more subdued wages relative the labor productivity growth during the recent

How can we be speaking of a “Depression” and a “recovery” happening at the
same time in the US (and world) capitalist economy?

“Disobedience, in the eyes of anyone who has read history, is humanity’s
original virtue. It is through disobedience that progress has been made,
through disobedience and through rebellion.” — Oscar Wilde, Soul of Man
Under Socialism

“The free market is perfectly natural... do you think I am some kind of
dummy?” — Jarvis Cocker

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