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bevin's avatar

Fascism arose precisely in order to ensure that the "economic whip' remained in the hands of the employer and the capitalist class.

Though how useful it has been in incentivising people to work is dubious, given that it requires that the bulk of the workforce be ill housed, malnourished and uneducated. The reforms, after World War II, about whose provenance Polanyi had so many sensible things to say, were productive of enormous increases in productivity, increases which far outweighed higher labour costs.

Consider the advantages to employers of having workforces whose members are not, for example, prone to debilitating dental infections. Consider the advantages, first noticed in the famous State education systems (California's Universities, Wisconsin's famous pre-eminence) of the expansion of secondary and higher education in the UK which produced an avalanche of talented producers in every field from social classes in which normally education-at a very primitive level- ended at 14 and entrance into the equivalent of High school was reserved for a tiny minority passing the tough 11+ examination.

What neo-liberalism did, by reclaiming social reform costs in order to enhance the interests of capital (in the short term) and to break the challenges that Trade Unions (even those purged of socialists) represented, by clawing back the benefits of (in the UK) the NHS and free tuition while it produced short term gains for the capitalists, began the rapid destruction of society. It was this, the cessation of advances produced by a more secure, more mature workforce, that, together with the flight of capital (enabled by the neo-liberal 'reforms' such as Thatcher's Big Bang) which levelled down the value of labour in the imperial metropoles.

I will now, or rather soon, read Germain's piece with fingers crossed: I hope not to discover a return, 200 years on, to Arthur Young's notorious quip that the poor will only work if kept close to starvation. It was a position echoing Mandeville, Locke and others of a criminal caste of mind which he later regretted. But it went on to be the watchword of Chicago's Department of Economics and the motto above the gates of Buchenwald and Auschwitz, the summation of fascist reacytion "Work will make you free."

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uncle tungsten's avatar

WTF happened to GDP? Or was it always Gross Deception Posture?

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