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View Diary: Marx for Dummies 1 (193 comments)

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  •  There are two problems with your statement, mars (3+ / 0-)

    1) Idleness is indeed a problem, looking at our unemployed, underemployed, and ranks of those who left the job market entirely.
    2) The social compact made by Ford and others to increase worker wages such that they were able to afford the market's products is dead.  It was killed by political and economic developments we commonly term neoliberalism.  This project began in the 1970s as a way to destroy unions and therefore reduce the cost of production for businesses.  It also lead to the export of jobs to cheaper countries.  This is all predicated on market competition which compels businesses to cut production costs in the pursuit of the great imperative, profit.  Finally, because manufacturing left the US, finance capital and service provisioning became our economy.  Finance is notorious for collecting money into itself and devouring the capital of others, e.g. the most recent financial crisis.  The service sector is premised entirely on the lowest paid labor (e.g. the food, transportation, and retail trades).  
    3) So who is supposed to make the money that will drive our economy?

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