At 5:11 AM 7/15/95, Walter Daum wrote [about BizWeek]: >Is this assessment of the productivity gains accurate? And if so, isn't it >something of a contradiction to propose that productivity achieved by screwing >the workers will be maintained if the bourgeoisie eases up on them? I don't know about the source of overall productivity gains, but the productivity gains from leveraged buyouts came from the closure and liquidation of weak plants or units and reduction of overhead expenditures rather than sustained improvements at continuing operations. They have no intention of easing up on the workers. I've been reading one of my favorite publications, the BIS annual report. It records a great determination to keep the squeeze on - European monetary policy is likely to follow the Fed's model of tightening early and hard. They're worried about wage inflation despite high unemployment in Europe. Fiscal policy *everywhere* is tight and getting tighter. Wasn't growth once, for like centuries, the greatest good of capitalist life? Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA +1-212-874-4020 voice +1-212-874-3137 fax
