Colossus with feet of clay
Low-Wage Capitalism
What the new globalized, high-tech imperialism means for the class struggle in the U.S

$19.95

By Fred Goldstein

With the capitalist system demonstrably unfair, irrational, and prone to intermittent crises, it is useful, indeed refreshing, to see a Marxist analysis of globalization and its effects on working people. Fred Goldstein's LOW-WAGE CAPITALISM does exactly that.—Howard Zinn

Lucid, deeply accurate and informative, as relevant and useful as a book can be, Goldstein offers a compelling analysis of the exploitative world of global corporate capitalism. —Michael Parenti author of Contrary Notions

Low wage capitalism by Fred Goldstein is a most timely and important work, as the working class prepares for a 'fightback' during the greatest crisis of capitalism since the great depression.—Clarence Thomas, Executive Board ILWU Local 10 and co chair of the Million Worker March Movement

In this period of economic uncertainty, Fred Goldstein's 'Low-Wage Capitalism' could not be better timed. Beautifully written, deeply considered and backed by impressive research, this is essential reading for anyone wishing to understand the true nature of the world we live in and the factors that have led to so much turmoil. ...Employing Marxism as an analytical method, Goldstein has succeeded in creating a bracing corrective to the pabulum served by the corporate media, and a salutary review of the labor movement. Urgently recommended. —Gregory Elich author of Strange Liberators

Low-Wage Capitalism is truly outstanding, starting with the first sentence in chapter one. Hits us like a body punch, and provides the perfect context for what we all need to know about the evolving conditions of workers and their struggles. I know of no book in this area that covers so much, so clearly and—when it comes to what is to be done—so convincingly. Deserves the widest readership.—Bertell Olman, professor of politics at NYU

Low-Wage Capitalism describes in sweeping detail the drastic effect on the working class in the United States of new technology and the restructuring of global capitalism in the post-Soviet era. It uses Karl Marx's law of wages and other findings to show that these developments are not only continuing to drive down wages but are creating the material basis for future social upheaval.

This analysis gives the historic background to the present economic crisis. It uses concrete examples of past labor struggles to point the way forward for the multinational working class today. Citing the necessity for the working class to challenge the old capital-labor relationship and find ways to expand workers’ rights to their jobs, housing and all other necessities of life, Goldstein raises a number of exciting possibilities for future struggles. Some of these are already being seen in such actions as the occupation of the Republic Windows and Doors plant in Chicago.

The book depicts the historical background to the present economic crisis. The analysis presented rests on three basic developments in the last three decades:

* The world's workforce available to exploitation by transnational capitalist corporations doubled in the wake of the collapse of the USSR and Eastern Europe.

* The technological revolutions of the digital age, in both production and communications, have allowed transnational corporations to destroy high-wage jobs and simultaneously expand the global workforce to generate a worldwide wage competition.

* The decline in the economic condition of the workers, driven by the laws of capitalism and the capitalist class, is leading to the end of working-class compromise and retreat and must end up in social upheaval and a profound revival of the struggle against capitalism.

Presented in May 2008 at the international conference in Cuba on "The Work of Karl Marx and the Challenges for the 21st Century." Now expanded into a full book, Fred Goldstein lays a basis for workers to understand and respond to the deep crisis rocking the world economy.

Below is a condensed table of contents

SECTION 1: Imperialist globalization and worldwide wage competition

1. Doubling the global workforce
2. New global networks of exploitation
3. Supply chains: vassals of the lords of capitalism
4. Offshoring: millions of service jobs at risk
5. Marxism and globalization

SECTION 2: Three decades of getting poorer

6. Where high tech is leading
7. Globalization and low pay
8. Sexism, racism, and low wages
9. Globalization and immigration
10. Late 1970s: Attack on unions begins

SECTION 3: Lessons from the past for the future struggle

11. Decades of rank-and-file fight-back
12. Reviving the struggle
13. High tech undermines old forms of class organization
14. Building a broad working-class movement
15. Class struggle and capitalist legality
16. Class consciousness and class struggle

Afterword: Imperialist war in the 21st Century

For more information, extended table of contents and more comments go to www.lowwagecapitalism.org

World View Forum, soft cover, 338pp, index, bibliography, end notes

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