ON LOW-WAGE CAPITALISM, PART 11…

Good morning. I'm away on my annual Wildacres Writer's Retreat atop Pompeii's Point in North Carolina. I've been reading Fred Goldstein's Low-Wage Capitalism and thought his "Why the bosses need Walmart" is instructive. Enjoy Part 11:
Most auto workers know, because they see the prices of the cars they work on and they know how many come off the assembly line, that their labor produces vehicles worth hundreds of times what they get paid. In the case of automobiles, because they are so key to the entire capitalist economy, these figures are pubic and constantly in the press. But because of capitalist secrecy, most workers have to guess at the relationship between their wages and the wealth they produce. Every worker needs to know that their wages come to only a fraction of the value they add to products with their labor. Otherwise, there would be no profit. That fraction of the total value of the product, representing the time it took to earn their wages, is the paid labor time; the other fraction is the unpaid labor time take by the capitalist. If wages can be reduced because prices for the means of subsistence go down, then the boss gains the difference.
Previously... Yes, I realize that Goldstein as leader and member of the secretariat of the Workers World Party has a point of view anathema to the majority of people in the United States, but he consistently raises points that I think important and worthy of deep discussion concerning our present economic hierarchy in general and Walmart in particular. I sincerely hope that when I return from my retreat I'll find the beginning of discussion that brings a thoughtful, large and varied voice to The Writing On The Wal. Jeff Hess: Have Coffee Will Write.

One Response to “ON LOW-WAGE CAPITALISM, PART 11…”

  1. […] ON LOW-WAGE CAPITALISM, PART 11… Most auto workers know, because they see the prices of the cars they work on and they know how many come off the assembly line, that their labor produces vehicles worth Keep reading… […]

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