nathan tankus wrote: > why not?
One reason is that the threat of joining the ranks of the unemployed motivates employed workers to work hard while restraining their wage demands. This preserves profits, which are the basis for capital accumulation, the main force driving a capitalist economy. If the reserve army of labor falls "too low" (by capitalist standards), profit rates fall, as does the rate of accumulation, so there's a recession that restores the reserve army of labor. This rarely happens, by the way, since policy-makers prevent unemployment from getting "too low." -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
