Crisis of US Capitalism or the Crisis of the US Wage and Salaried Worker?

James Petras

Entelequia. Revista Interdisciplinar, 2007, issue 3, 3-11

Abstract: The Collapse of Capitalism (COC) Theory, usually supported by leftist people, is being denied by economic fundamentals facts and corporate profit data. Any constrictive or critical circumstance claimed as threatening the status quo has been efficiently redirected toward labour force exploitation. The way in which capitalist model can survive and improve is by mean of slow growth of wages and salaries (progressive decrease of their real purchasing power) and the labour rights removal, even inside richest countries, as the United States.

Keywords: Collapse of Capitalism Theory; Capitalist System; Crisis; United States; Wage; Salaried Work; Labour force (search for similar items in EconPapers)
JEL-codes: D69 E20 E24 J31 (search for similar items in EconPapers)
Date: 2007
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