"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



"160 years after the publication of the Communist Manifesto,
Fred Goldstein takes on the challenge of applying Marxist political economy
to the burgeoning crisis of capitalist globalization
in the 21st century."
- Abayomi Azikiwe, Editor Pan-African News Wire


"Only by understanding capitalism and monopoly capitalism
can we understand the root causes
of global poverty and migration."
- Berna Ellorin, Secretary-General, BAYAN USA


"We need to get this book into the hands of every worker.
It clearly explains the capitalist economic threat
to our jobs, our pensions and our homes.
But, even more importantly,
it shows us how we can fight back and win!"
- David Sole, President UAW Local 2334, Detroit, Michigan


"This book helps us to understand
the root of the present neoliberal globalization -
a new stage of the international capitalist crisis -
especially right after two very important events
in the late twentieth century:
the scientific-technological revolution in production,
communications, and transportation,
and the demise of the Soviet Union and Eastern Europe..."
- Ignacio Meneses, Co-Chair, US-Cuba Labor Exchange

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.

The analysis 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 a profound revival of the struggle against capitalism.

While the book concentrates on changes in the U.S., restructuring is a world phenomenon. Goldstein's general analysis also applies to the imperialist countries of Western Europe and Japan. The book discusses how:

* Advanced processes of production promoted by the corporate giants in low-wage countries have changed the international division of labor within world capitalism.
* The "national wage" is being supplanted by an international determination of wages as worldwide wage competition lowers the floor.
* Since the late 1970s, the vast majority of U.S. workers have seen a decline in wages and living conditions as permanent, high-paying jobs with benefits disappear.
* The rise of the multi-earner family represents a hidden, class-wide wage cut for U.S. workers.
* Restructuring and technology have especially impacted on African-American workers.
* Women have flooded into the workforce, most at low-wage jobs, in order to survive.
* Increased exploitation of Latin@s and other immigrants is an integral part of globalization.
* Highlights from past struggles provide a guide to future action and organization.
* It takes a broad workers' movement to fight for the economic and social needs of all.
* Breaking out of the traditional capital-labor relationship is essential to the defense of the multinational working class in the era of low-wage capitalism.



Read it online at  http://lowwagecapitalism.org