this post was submitted on 23 Mar 2026
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Chapotraphouse

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Capitalist countries have avoided Marx’s epidemic of overproduction because they have come to recognize that workers are also consumers. These governments have let wages rise to drive up demand.

I am sure labor pressure had nothing to do with it.

China should learn from this example. It must enrich its own citizens by encouraging collective bargaining, providing social security, removing caps on wage growth, and raising the minimum wage. Doing so could allow China’s consumption to eventually match its production prowess. If Beijing does not adopt a more pro-worker stance, its economy will become more lopsided, trade tensions will rise, and Chinese citizens will not be able to reap the full benefits of the economic miracle that they have created and rightly deserve.

This means America will do the same, right? anakin-padme-2

America will do the same, right? anakin-padme-4

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[–] chgxvjh@hexbear.net 1 points 16 hours ago (1 children)

According to official Chinese statistics, in the real economy—that is, agriculture, industry, and utilities—the share of labor compensation relative to the value of all economic inputs, such as raw materials, production components, and capital, fell from 21 percent in 1987 to 15 percent in 2023, the last year for which data are available.

Does anyone know the source for this statistic and how it was calculated?

[–] woodenghost@hexbear.net 1 points 13 hours ago (1 children)

No, but it just sounds like the organic composition of capital shifting towards constant capital. Technology will do that.

[–] chgxvjh@hexbear.net 2 points 12 hours ago

That's what I'm thinking as well. But I think it depends on how the number is calculated whether that's the necessary outcome.