industrialization

[Forstater, Mathew]

Marx's theory of technological change under capitalism is that rivalrous, cut
throat competition between capitals compels firms to introduce labor-displacing
technological change.  This is usually in response to declining unemployment,
which increases the bargaining power of workers, pushing up wages, cutting into
profits and hurting firms' ability to price-compete and increase market share.
An abundant supply of cheap labor (reserve army) reduces this pressure.

Mat

-----Original Message-----
From: Kelley Walker [mailto:kelley at interpactinc.com]
Sent: Thursday, April 12, 2001 6:07 PM
To: lbo-talk at lists.panix.com
Subject: industrialization

anyone have comments on this one? is this an expression of what yoshie 
attacks as bourgeois industrialization theory?  isn't this what mat has 
been saying re why tehcnological innovation occurs?

 > Industrialization will be delayed by an abundant supply of cheap labor.

 > Industrialization [automation] is a response to a shortage of labor.