[PEN-L:1800] Re: min wage in real world; demand the "possible"

[Paul Zarembka <ECOPAULZ@xxxxxxxxxxxxxxxxxxxx>]

Jerry, maybe Doug should speak for himself, but I doubt that Doug means
that the "impossible" is really impossible.  What I think he means and
what I was responding positively to is that people become conservative in
their ways of thinking as society doesn't seem to move and what is
actually "possible" is treated as "impossible".  So, if I understand Doug
correctly, he is saying "demand the possible, which the dominant class is
conditioning you to think is 'impossible'".

Lenin's April Theses are a classic example of demanding the "impossible" and
most of the leadership thought Lenin was demanding something "impossible".
Anyway and regardless of this example, demanding the "impossible" is the
stance, basically, of every revolutionary movement (think of the
abolitionists in the 1850s).

Now my whole thread on the minimum wage is saying not to accept
the terms of discussion $4.25 or $5.15 minimum wage.  In a very different
context, on Compuserve's Political Forum, Economics Section, I am, day
after day, doing the same thing--arguing that a $10 real minimum wage is
realistic given that we had a $7.15 minimum wage in 1968 and have had
productivity growth in the meantime.  My minor irritation on Pen-L is
that some of the same arguments I heard from conservatives (in some
case, downright reactionaries) were closely repeated by progressive
economists (something I had not expected).

Regarding the numbers, I would want to do that seriously and would have
to use an approach like Shaikh's or like Wolff's.  I think I have gone far
enough already to give you an idea of what such results might look like.
Incidentally, I haven't seen it but I've heard that the Wall Street
Journal had an article this week on struggles popping up around the country
to demand a living wage (although none of these struggles, to the best of
my knowledge, are yet proposing $10 in real terms).

Paul Zarembka, State University of New York at Buffalo

On Thu, 7 Dec 1995 glevy@xxxxxxxxxxxxxxx wrote:

> Paul: Since you asked that this question be discussed empirically using
> Marxist categories, what is the average rate of profit so calculated in
> the US economy? After you have answered that question, then we can factor
> in increases in variable capital costs due to the proposed $10 minimum
> wage and see what that would do to the average rate of profit.
>
> Before one demands the impossible, one should give consideration to the
> possible consequences of the impossible.
>
> Jerry
>