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The Labour

The authors say  ‘The brunt of the capitalist globalization process has been borne by labour, the restructuring of which in effect has been the major mechanism of structural adjustment…… Our prognosis for the first decade of the 21st century is that the deepening crisis in Asia and the continuing crisis in Latin America will lead to an enormous growth of informal workers with incomes at or below the level of  subsistence; large-scale movements of impoverished workers and peasants back and forth between urban and rural economies, the cheapening of industrial production and a decline in well paid jobs in the advanced capitalist countries, the growth of  poorly paid service-jobs, and world-wide crisis of living standards for labour.

‘Technological innovations, largely related to the processing of information will lead to the growth of relatively small elite of well-paid software engineers and executives and a mass of poorly paid  “information processors” – the new proletariat. The outsourcing of  labour intensive computer work to low wage areas is already a growing social phenomenon. Thus the centrality of wage labour contrary to the prognosis of globalization theorists who talk about the “disappearance of wage labour” – will greatly increase even as it is impoverished. In so far as the new information systems are linked to the vast movement of speculative capital they can be seen as an integral technical instrument in the assault on productive capital and the living standards of wage workers.”(pp.24 & 25).  

The authors do not stop here. Hereafter they make a very important point: “The social and political implication of the change are momentous. For one thing, it will generate a radically different social structure and system of relations. For another, it highlights the strategic position of labour. Combined with the growth of huge industrial reserve army (mainly informal and contingent in form) and its depression effect on the wages of the employed, the change wrought in the labour force and the social structure of society will undermine and weaken the capacity of capital to discipline labour and to stimulate the accumulation  process. (p.25)

This is a formulation demolishing all other currently fashionable prognosis that labour,  in the wake of the Capitalist globalization is loosing its capacity to fight or the wisdom of those who jubilantly formulate that the proletariat is losing or has lost its revolutionary potential and thereby merrily conclude that Marxist formulation of a proletarian revolution have all come to be a myth.

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