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Showing posts with the label europe
Yes, not only in Greece and not only minimum wages.   In the time of the fall in the rate of profit, wages in general and everywhere, have to stay as they are or decrease in relative terms. "Destructive creation" in general has to accelerate if we want investment to resume and capitalist growth to follow suit. That's the recipe. Take it or leave it.
The development of capitalism has good news for "the developing countries". How the West will continue to rule. " As the next industrial revolution unfolds, the model for economic growth that arose alongside globalization will offer a less certain path toward development. Though new technologies will not completely erase the benefit of cheap labor, they will reduce the number of opportunities countries have to industrialize, diversify and grow their economies." The Rise of Manufacturing Marks the Decline of Globalization