A prophet on profit

May 11th, 2012

“The issue is no longer the reduction of the wages of the English to the level of continental Europe. Rather, in the near future the wages of the Europeans will be reduced to the level of the Chinese. This is the perspective that Mr. Stapleton, a member of the British parliament, has shared with his constituency in a speech about the price of labor in the future. He says: ‘If China becomes a large producing nation, I do not know how the industrial population of Europe will be able to continue the struggle without reducing its wages to the level of its competitors.’

From the French edition of Capital, Vol. 1 by Karl Marx. Thanks to DB

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