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The distinctive feature of this particular phase of capitalist development, the scientific-technological phase, is that while it enormously raises the productivity of labor, it for the first time simultaneously lowers the general wage patterns and demolishes the more high-skilled, high-paid workers…

[...] The Congressional Office of Technology Assessment report confirmed it: "Jobs in computer and semiconductor manufacturing are unlikely to rescue many workers from traditional manufacturing jobs because employment in these industries is small." And of course, the total number of jobs in compute…

This is a social trend wholly unanticipated by those who had expected the great advances and discoveries in science and technology to have brought about "upward mobility." This is what was looked for from the scientific and technological revolution. Instead, all of the studies disclose a clear tren…

Many are promoting the notion that crisis automatically leads to uprisings and the collapse of capitalism. This is sterile, abstract thinking, far removed from the reality of the working class. It fails to take into account the disintegrating forces exerted upon the workers by a capitalist crisis o…

Globalized production has now brought a worldwide epidemic of layoffs and mass unemployment.

Militarism, technological development, and anti-labor attacks were not enough to save the banks and corporations. Huge injections of credit were required. The ruling class resorted to speculation, credit…