By Alain Lipietz
Mirages and Miracles: trouble in international Fordism
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Extra info for Mirages and Miracles: Crisis in Global Fordism
By establishing the level of pseudo-validation and by using a battery of rules to oblige secondary banks to hold back some of their credit in the form of central currency reserves, the central bank can influence their willingness to lend, or at least the rate of interest at which they do lend, thereby influ encing other agents' willingness to borrow. By using the weapon of mon�tary policy, the State can, then, attempt to silmulate or slow down the econQmy. It c:an do the same thing by juggling its spt:nding and revenue.
The owners of the units of production J buy labour-power from wage-earners in exchange for a quantity of money whose value is inferior to the value added by their labour, the difference between the two being surplus-value. The wage-earners do at least have the advan tage of being paid, but in return they have to submit to the work discipline and the organization which the capitalist imposes in the factory. For the capitalist matters are in a sense more compli cated. The individual capitalist owns a sum of money which he exchanges for means of production, notably fixed capital (investment) and labour-power.
The term refers to two phenome na which are theoreticaUy linked but which are also relatively distinct and subject to historical - and, as we shall see, geographical variations. In the 1 9 20s, a revolutionary mode of work organization became generalized in the USA and, to a certain extent, in Europe. This was Taylorism, the process whereby the skills of worker collectives were expropriated and systematized by engineers and technicians using methods of 'Scientific Management' . A further step was taken when that syste matized knowledge was incorporated into an automatic system, with machines dictating working methods to workers whose initiative had been expropriated.
Mirages and Miracles: Crisis in Global Fordism by Alain Lipietz