Botwinick provocatively shows that competition and technical change often militate against wage equalization, and calls for militant union organization that can once again take wages and working conditions out of capitalist competition.
About the Author
Howard Botwinick, Ph.D. (1985) New School for Social Research, is Associate Professor of Economics at SUNY Cortland. He has been active in several unions and was a founding member of the U.S. Labor Party in the 1990s.
Table of Contents
New Preface (2017 Edition)Preface and Acknowledgements (1993 Edition)List of FiguresList of Tables1 Introduction Breaking the Impasse Toward a Theoretical Alternative Implications for the Analysis of Discrimination On Heterogeneous Labour Comparing Our Results to Orthodox and Radical Economics Solving Some Anomalies Outline of the Argument2 Continuing Attempts to Square the Circle (Or, Competitive Theory Confronts Differential Wage Rates) Early Neoclassical Wage Theory The Theory of Perfect Competition: Abstraction as Idealisation The Inevitable Schism between Theory and Practice The Theory of Imperfect Competition – Godsend or Albatross? Postwar Institutionalists: An Initial Attempt at Alternative Theory The Ascent of Human Capital Theory The Real World Strikes Back The New Institutionalists: The Dual Economy and Dual Labour Markets Labour Market Segmentation and Monopoly Capital The Initial Response to Segmentation Theory The Second Wave of Segmentation Arguments The Continuing Search for a Radical Alternative Efficiency Wage Theory: The Latest Attempt to Square the Circle3 Capitalist Accumulation and the Aggregate Labour Market Marx versus Neoclassical Economics The Special Commodity Labour Power Primitive Accumulation and the ‘Doubly Free’ Labourer The Unique Logic of Labour Supply Capitalist Accumulation and the Reserve Army of Labour Marx’s Reserve Army within the Modern Period On the Necessity of Worker Resistance Capitalist Accumulation and the Limits to Rising Wage Rates Empirical Evidence for Limits to Rising Wage Rates4 Wage Differentials and the Aggregate Labour Market Capitalism’s Active and Reserve Armies: Differentiation and ‘Segmentation’ in Their Most Basic Forms The Role of Workers in the Segmentation Process A Dynamic Analysis of Labour Mobility and Wage Differentiation Under Conditions of Permanent Underemployment Uneven Technical Change, Competition, and the Reserve Army: A Brief Glimpse of Marx’s Theory of Wage Differentials On the Incompleteness of Marx’s Work5 Capitalist Competition and Differential Profit Rates Competition within Industries Competition between Industries Marx’s Concept of Regulating Capitals Empirical Evidence of Monopoly Chapter Summary Appendix to Chapter 56 Capitalist Competition and Differential Wage Rates (I): The Analysis of Regulating Capitals Overview of the Dynamic Adjustment to Changing Wage Rates Deriving Determinate Limits to Rising Wage Rates Limit One: The Immediate Profitability of Regulating Capitals Limit Two: The Unit Costs of Subdominant Capitals Further Implications for Inter- and Intraindustry Wage Patterns Limit Three: The Differential Costs of Obstructing Wage Increases Analysing the Effects of Uneven Worker Organisation A Final Note on Workers’ Power and the Costs of Obstruction The General Laws of Capitalist Accumulation7 Capitalist Competition and Differential Wage Rates (II): Non-regulating Capitals and Differential Profit Rates The Case of Less Efficient Capitals Short-Term Effects of Rising Wage Rates The Case of More Efficient Capitals Implications of the Dynamic Equalisation of Profit RatesConclusion Capitalist Competition and Differential Wage Rates: Abundant Possibilities for Sustained Inequality Capitalist Accumulation and the Aggregate Labour Market: Further Sources of Wage Variation Comparing Our Results to Neoclassical Economics Comparing Our Results to Radical Economics Implications for Empirical Research Implications for the Contemporary Labour MovementAfterword: The Past 20 Years Have Not Been Pretty Where Do We Go from Here? Lessons from the 1930s But Hasn’t Accelerated Globalisation Made the Old CIO Strategies Obsolete? Given the Dismal State of the Left, How Can We Get There from Here? A Final Lesson from the 1930sReferencesIndex