" Isn't that basically what a well-managed socialist economy is supposed to do? Wage suppression by itself is a bad thing, but if it can be combined with suppression of profits, interest rates, rents and living costs and a decent safety net, this makes for a stable and prosperous standard of living, yes?
The real problem with Germany is not that they are cruelly exploiting their own workers, but that they are bankrupting Greeks and the other PIGS to keep Germans prosperous. Am I missing something here?" No this is precisely my point Raghu. Although I will say restraining non profit to enterprise parts of surplus value can be a tool for capitalist expansion. it's certainly what marx expected from capitalism. I think people don't talk enough about intracapitalist conflict. in the united state FIRE won the war against industry. -- -Nathan Tankus -----------------------------------------------------------------------------------------------------------------------------------------------
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