> So when 'production' is negative (cf United Airlines for the past N
> years), labor doesn't get paid?
yeah. I think it's called "layoffs" or the retroactive destruction of, say, pension plans.
> Or is labor only entitled when there's a surplus?
when labor gets screwed, there's usually a surplus
"United Airlines CEO Glenn Tilton received $39.7 million in 2006, including salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. At the same time, United Flight Attendants continue to experience life changing wage, health care and work rule concessions, along with termination of their pension plan. Incredibly, Tilton's 2006 compensation exceeded the airline's entire annual profit of $25 million reported by United's parent company UAL, Inc (UAL)."
http://financialservices.house.gov/pdf/HR1257AFACWALetter.pdf http://www.pbs.org/moyers/journal/06082007/profile.html
But we get the point. Capital is Soooo important because it takes on all that "risk" while workers get everything taken care of by the govern--oh wait I have that backwards:
Management: http://www.tiaca.org/articles/2001/09/25/E7F85047F5C44DEA8B2C832400CA289F.asp http://www.baltimoresun.com/business/bal-bz.hancock30sep30,0,7343506.column
Workers: http://www.wsws.org/articles/2001/dec2001/ual-d21.shtml http://www.nytimes.com/2005/05/11/business/11air.html?_r=1&oref=slogin
-s