[Marxism] Are pay cuts a solution to the crisis?

james pitman marinercarpentry at gmail.com
Mon Mar 5 05:50:24 MST 2012


I haven't read the article yet, but the short answer must be no. Any
increase in the rate of exploitation that successfully extracts more
surplus value is still unrealised as profit, and therefore, no guarantee of
a return to profitability. Surplus value and profit may be inversely
related in some cases and some increases in the rate of exploitation could
actually deepen a crisis from a 'consumptionist' perspective.

Best,
Jamie.

On 5 March 2012 10:22, Mark Comerford <markmedia at gmail.com> wrote:

> ======================================================================
> Rule #1: YOU MUST clip all extraneous text when replying to a message.
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>
> An interesting and pedagogical answer to the above question, with stats
> from both the Economist and the Bureau of Labour Statistics can be found at
>
> http://www.fjardeinternationalen.se/blog/2012/03/05/loner-produktivitet-och-konkurrenskraft/
>
>
> The article is in Swedish but Google translate gives an adequate
> translation. This could be useful for labour activists
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> Mark Comerford
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