ON LOW-WAGE CAPITALISM, PART 12…

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 12:
The bottom line is that Walmart's low prices are at the expense of the low wages of their 1.2 million workers, as well as the expense of the millions of workers in the United States and in sweatshops around the world who work for Walmart's suppliers. I fact, these low prices have made it possible for the capitalist class to lower wages without driving workers to absolute hunger and rebellion. Lowering the price for the necessities of life has the objective economic effect of cheapening labor-power and reducing necessary labor time. When this happens, the bosses have more unpaid labor-time, more surplus value. Only a class struggle that stops the slide in wages can allow workers to take advantage of lower prices. Otherwise that $200 billion in savings goes into the pockets of the bosses, because the lower prices allow bosses all over the United States to pay lower wages.
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.

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