CEOs, Supermanagers, and other rich people are the subject this week as Andrew Kliman asks the question “Were Top Corporate Executives Really Hogging Workers’ Wages?”
Professor Andrew Kliman is a professor of economics and Pace University and the author of the books Reclaiming Marx’s Capital and The Failure of Capitalist Production,” and the answer he gives as he discusses his essay at Truthdig may surprise you.
Here’s an excerpt from that essay:
Thomas Piketty attributes rising inequality in the U.S. primarily to huge increases in the salaries of CEOs and other top executives, but he misinterprets the evidence. Rising salaries of top executives actually explain very little of the rise in inequality, and they depressed other employees’ pay by only a negligible amount.
It’s Monday, October 13th, 2014, and I’m Douglas Lain the host of this podcast.
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Diet Soap Update Pop the Left update: andrew kliman audio collage Capitalism deep space nine history Imperialism lenin Marxism platypus
Imperialism is the subject this week as C Derrick Varn and I bring back Pop the Left and discuss Lenin’s pamphlet “Imperialism: The Highest Form of Capitalism.”This was to be a discussion of the notion of the labor aristocracy, but we decided to start slow and see if we could understand Imperialism first.
From Lenin’s pamphlet, here’s the definition:
(1) the concentration of production and capital has developed to such a high stage that it has created monopolies which play a decisive role in economic life
(2) the merging of bank capital with industrial capital, and the creation, on the basis of this “finance capital”, of a financial oligarchy
(3) the export of capital as distinguished from the export of commodities acquires exceptional importance
(4) the formation of international monopolist capitalist associations which share the world among themselves
(5) the territorial division of the whole world among the biggest capitalist powers is completed.
Imperialism is capitalism at that stage of development at which the dominance of monopolies and finance capital is established; in which the export of capital has acquired pronounced importance; in which the division of the world among the international trusts has begun, in which the division of all territories of the globe among the biggest capitalist powers has been completed.
I’d like to urge regular listeners to the Diet Soap podcast to find the paypal button at dietsoap.podomatic.com. Also, the podcast is also available via iTunes and I urge people who enjoy this show to consider leaving a review at iTunes in lieu of a donation