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I'm not sure how you can conclude we still have capitalism when...

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Gillysrooms

10,434 Posts.

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24/02/18

09:34

Post #: 31309600
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Originally posted by tigmeister ↑

Keynesianism failed because it employed the Industrial Reserve Army and that is what resulted in inflation. In other words, capitalism requires the Progressive Production of a Relative surplus population or Industrial Reserve Army to prevent a wages breakout? This was finally resolved by offshoring and automating production as a means to discipline labour. Full employment gives workers confidence to demand fairer pay and conditions and this is in direct conflict with the profits of corporations, and causes crisis. Capitalism is a very frail system, always teetering on the brink of another crisis.

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I'm not sure how you can conclude we still have capitalism when 16 million citizens are Living off 8 million and their employers in Australia and in USA it's the NRA who rule the roost.
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