[lbo-talk] Krugman's Latest

Charles Brown cbrown at michiganlegal.org
Mon Dec 26 12:52:35 PST 2005


Wojtek Sokolowski

You seem to imply that the ruling class seeks to harm working class *in addition* to profit seeking.

^^^ CB: Correct. You make the exact distinction I am trying to make here. Not only shortterm profits, but direct harm to the working class personnel so that they cannot fightback in the future. Kick 'em while they are down.

&&&&&&

How can you separate the two?

^^^^ CB: Not separate. Two sides of the same coin. :>)

Point is sometimes it is said that bourgeoisie only think about shorterm profits. No. They think about longterm class balance of forces. Working class strength depends in part on the mental and physical health of the masses of working class people. The more unemployment, poverty, drug addiction, alcholism, suicide, victimization by crime, all around morbidity, premature mortality in the working class , the less likely that it will mount a successful challenge to the ruling class, the next time the working class decides to fight.

( Engels or Marx ? said the U.S. working class takes a long time to move, but when it does it does so with Seven League Boots)

^^^^

Profit maximization by definition means labor remuneration minimization. If one one goes up, the other one must go down, there is no other way.

^^^^ CB: Sure. Irreconcilable antagonism. Zero-sum game.

^^^

Because the profits, and with them the power of the ruling class vastly diminished in the 1960s and 1970s as a result of Keynesian policies of balancing the interst of capital and labor, the ruling class decided to restore it profits and class power mainly be jettisoning pro-labor elements of Keyenesianism. They is no other way, unless one belives in the "new economy" and "productivity increase" mythology.

Wojtek



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