The solution: a more efficient tax system?!

Posted: 9 August 2009 in Uncategorized
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Gregory Clark, esteemed professor of economics at UCal-Davis, gets it all wrong. He thinks the problems of poverty and inequality can be blamed on technological change and the “ineluctable increase in the number of people with no marketable skills.” What he doesn’t understand is that capitalism and the capitalist use  of technology to create the conditions for extracting and realizing more surplus-value—not technology per se—have an (almost) inevitable tendency to create “a large share of the population [that] is socially needy but economically redundant.” It’s called the Industrial Reserve Army or the Growing Ranks of Those Who Are Employable Only at Very Low Wages.

And his solution? “A more efficient system [that] would tax only where there is a need for some specific public good or a transfer to the poor.” Not, of course, the elimination of capitalist exploitation.

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