> Frankly, it looks dire. The businesses have switched from relative
>surplus-value extraction (technical progress, mechanization) to absolute
>surplus-value extraction (wage cuts, speed-up, stretch-out) as the main mode.
>This simply makes the recession worse, especially with all that consumer debt
>out there.
Wage cuts are part of relative s.v., but you are right about the imbalance.
The other question about imbalances concerns the US taking fewer imports from
Asia.
(((((((
CB: Just a small technical note. I understand absolute surplus-value as obtained by
lengthening the work day. Overtime seems to being cut back now.
Speed up and other productivity increases would be relative surplus value
extraction,no ?
