Comments on: The Continuing Unsatisfactory Economic Expansion http://thesocietypages.org/socimages/2013/07/05/the-continuing-unsatisfactory-economic-expansion/ Sociological Images encourages people to exercise and develop their sociological imaginations with discussions of compelling visuals that span the breadth of sociological inquiry. Fri, 10 Apr 2015 03:38:00 +0000 hourly 1 By: The Continuing Unsatisfactory Economic Expansion - http://thesocietypages.org/socimages/2013/07/05/the-continuing-unsatisfactory-economic-expansion/comment-page-1/#comment-576803 Wed, 07 Aug 2013 21:02:07 +0000 http://thesocietypages.org/socimages/?p=56051#comment-576803 […] post originally appeared on Sociological Images, a Pacific Standard partner […]

]]> By: Clarence Seedorf http://thesocietypages.org/socimages/2013/07/05/the-continuing-unsatisfactory-economic-expansion/comment-page-1/#comment-575748 Sat, 13 Jul 2013 17:16:00 +0000 http://thesocietypages.org/socimages/?p=56051#comment-575748 From a classically Marxian, as opposed to a pseudo-Keynesian posing as a Marxian, perspective, the degradation of the living standards of most wage-labourers, post a recession, is in fact part of the economic recovery. Insofar, that is, that the recreation of a large reserve army of labour enables business, as a class, to further raise the rate of exploitation, i.e. to increase the value difference between wage input and commodity (goods and services) output (and thus increase profits). Labour, or labour power, remember, is nothing but another cost to be lowered for the sake of the owning class’s profit(s). Ergo, given the occurrence of many similar situations in the past two centuries or so, one shouldn’t be too surprised by figures of the sort that are included in this post. Worsening living conditions for the
majority are to be regarded as a means by which conditions conducive for
renewed investment are once again created; the business cycle starts again, and at one point due to increased demand for working hands, at least in theory, albeit mitigated somewhat by technological development and the globalising or globalised labour market, wages will rise again (or not, depending the level of class struggle and the current composition of the forces of organised labour) [the reason then for our current distinct lack of recent jobs expansion is that the business classes do not yet think that the economic situation is as of yet profitable enough to risk the further investment of their capital].

Anyhow, as a Brazilian general is apocryphally said to have said, ‘the economy is doing well, but the people are doing badly’.

As Andrew Kliman has noted,

‘… working people’s gains are not compatible with the continued functioning of the capitalist system. The reason why they are not compatible is that capitalism is a profit-driven system. So what is good for capitalism – good for the system – as distinguished from what is good for a majority of people living
under it – is high profits, not low profits. Higher pay for workers cuts into profits, as do increases in corporate income taxes to fund social programs [social security, obviously rj], a shorter work week, health and safety regulations in the workplace and so on. There is no solution to this dilemma within the confines of the capitalist system.’

Therefore there is a sense in which our reactionary friend above or below is quite right, although as an antidote to the economic difficulties of normal folk I wholeheartedly suggest the firm application of proletarian revolution.

]]> By: Ricky http://thesocietypages.org/socimages/2013/07/05/the-continuing-unsatisfactory-economic-expansion/comment-page-1/#comment-575629 Thu, 11 Jul 2013 00:43:00 +0000 http://thesocietypages.org/socimages/?p=56051#comment-575629 I don’t know why we would expect anything different. We keep electing politicians who are hostile to business. The media (except for FOX) tries its best to paint a rosy picture for O, but their lies can only cover so much.

]]> By: Brutus http://thesocietypages.org/socimages/2013/07/05/the-continuing-unsatisfactory-economic-expansion/comment-page-1/#comment-575411 Sat, 06 Jul 2013 22:53:00 +0000 http://thesocietypages.org/socimages/?p=56051#comment-575411 How much of the increase in consumer spending is driven by money that isn’t personal income?

]]> By: Larry Charles Wilson http://thesocietypages.org/socimages/2013/07/05/the-continuing-unsatisfactory-economic-expansion/comment-page-1/#comment-575359 Fri, 05 Jul 2013 23:25:00 +0000 http://thesocietypages.org/socimages/?p=56051#comment-575359 The TV news I’ve been watching today (3 July 2013) certainly did not talk abot a robust economy. The reporter (on the NBC Evening News) mentione that most of the new jobs are low-paying and that a large number of those more than 55 y/o had dropped out of the labor market.

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