[Marxism] Are pay cuts a solution to the crisis?
tristan.sloughter at gmail.com
Mon Mar 5 10:21:12 MST 2012
> That depends. In the current crisis, it looks to me as though worker
paycuts are a means to limit the decrease in profit, and the resulting
> decrease in dividends and manager salaries.
True. But in the "end", when the crisis levels out, is a cheapening of
goods and an increase in surplus value.
A problem in the current crisis I see is the inability for the capitalists
that are still around to buy up the surpluses left behind. Banks and
companies are sitting on billions instead. Those I've spoken with in
banking argue it is because of new legislation telling them to be more
liquid... Not sure I buy it. But definitely a problem for surmounting the
crisis and restoring capitalist growth.
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