Competition-ruthless, unforgiving, to-the-death competition-is a crucial feature of capitalism.
Jim StanfordEconomic systems come, and economic systems go. No economic system lasts forever. Capitalism is not likely to last forever, either.
Jim StanfordEmployers crave the power to fire workers whose performance is judged inferior-not just to get rid of those particular workers, but more importantly to motivate and discipline the rest of the workforce.
Jim StanfordKalecki thus precisely predicted the economic and political U-turn that occurred with the advent of neoliberalism. Kalecki also argued that fundamental institutional changes, especially regarding wage-setting and other aspects of the employment relationship, would be essential if full employment was to be sustained.
Jim Stanford