Jim wrote: "Marx's theory in CAPITAL (volume 1) is mostly about job destruction. This focuses on a representative industry, i.e., one that represents the abstract general laws of accumulation. But there are also processes of job creation in Marx: if aggregate accumulation is fast enough, that increases aggregate employment (which may or may not raise real wages enough to reduce the rate of surplus-value)."
Thanks. What I find a bit perplexing about that is that there is little or no difference between Marxs and the mainstream view on job creation. When you replace aggregate accumulation in the above statement by GDP growth (which is a synonym), then you read Marx, Capital as saying: if GDP growth is fast enough, that increases aggregate employment. In other words, Marx and the mainstream agree on this point. GK _________________________________________________________________ Your Space. Your Friends. Your Stories. Share your world with Windows Live Spaces. http://spaces.live.com/?mkt=en-ca
