Tuesday, July 16, 2013

How capitalism's great relocation pauperised America's 'middle class'

Click here to access article by Richard Wolff from The Guardian.

He reviews the abandonment of the early centers of production by corporations which saw greater profit opportunities elsewhere. Then he poses some very important questions regarding the future:
Will capitalism in its old centers of North America, Europe and Japan be able to hold the grudging support of their working classes, as it now delivers long-term declines of wages, working conditions, and living standards? Can capitalism achieve the social acceptance in the new centers that its first 200 years found in the old centers?