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


  • Petras, James


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.

Suggested Citation

  • Petras, James, 2007. "Crisis of US Capitalism or the Crisis of the US Wage and Salaried Worker?," Entelequia. Revista Interdisciplinar, Entelequia y Grupo (Universidad de Málaga), issue 3, pages 3-11, Spring.
  • Handle: RePEc:erv:ancoec:y:2007:i:3:p:3-11

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    More about this item


    Collapse of Capitalism Theory; Capitalist System; Crisis; United States; Wage; Salaried Work; Labour force;

    JEL classification:

    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • D69 - Microeconomics - - Welfare Economics - - - Other
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity


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