On Tue, 26 Jan 1999 17:08:37 -0500 Doug Henwood <dhenwood at panix.com>
writes:
>Marta Russell wrote:
>
>>As pointed on on this list in an earlier post, Kalecki's theory is
>that
>>labor must be kept weak to preserve profits and the class
>dictatorship
>>of capital.
>>Could one of you economists (or learned souls) point me to a cite for
>>this, I'd like to use it.
>
>I've scanned the text of this classic article; I'll forward it to
>anyone
>who emails me (offlist, please).
>
>Doug
>
Doug,
Please do. BTW wasn't it Kalecki who advanced the hypothesis of a political business cycle - in which governments in power loosen up monetary & fiscal policy prior to elections in order to get themselves re-elected. Then following an election, the winner once esconced in power will tighten up monetary & fiscal policy in order to placate capital which likes to see a bit of discipline in the labor market - enfoced thru the reserve army of labor.
Jim Farmelant
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