British Capitalism: Workers and the Profits Squeeze
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'''Author:''' Andrew Glyn, Bob Sutcliffe | '''Author:''' Andrew Glyn, Bob Sutcliffe | ||
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'''Pages:''' 271 | '''Pages:''' 271 | ||
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According to the authors of this provocative Penguin Special, British capitalism has in the last few years given the lie to the basic assumption of the great majority of Western economists. Work-force's share of the economic cake, like that of Profit, remains more or less constant. They see the implications to be revolutionary, in a literal sense. | According to the authors of this provocative Penguin Special, British capitalism has in the last few years given the lie to the basic assumption of the great majority of Western economists. Work-force's share of the economic cake, like that of Profit, remains more or less constant. They see the implications to be revolutionary, in a literal sense. | ||
They analyse the situation as follows. Because of increasing international competition, firms have been unable to pass on as higher prices the increased wages they have been forced to concede. Profit margins have narrowed. The evidence is clear and plentiful. But without profit to finance dividends and reinvestment, capitalism cannot survive. So which will be sacrificed - the System itself or the prosperity of ninety per cent of the population? Either way the political consequences will be formidable. | They analyse the situation as follows. Because of increasing international competition, firms have been unable to pass on as higher prices the increased wages they have been forced to concede. Profit margins have narrowed. The evidence is clear and plentiful. But without profit to finance dividends and reinvestment, capitalism cannot survive. So which will be sacrificed - the System itself or the prosperity of ninety per cent of the population? Either way the political consequences will be formidable. | ||
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[[Category:Everything]] | [[Category:Everything]] | ||
[[Category:Misc]] | [[Category:Misc]] | ||
