‘Low-Wage Capitalism’ reviewed in L.A.

A review of Fred Goldstein’s book, “Low-Wage Capitalism,” appeared Aug. 13 in the Los Angeles Examiner. This online news source is part of the examiner.com national news network that provides editions with local content for hundreds of cities in the U.S. and Canada. The reviewer, Laura Frazin Steele, recommended five books to read for Labor Day. One was headlined: “Fred Goldstein’s ‘Low-Wage Capitalism’ is a discussion of the plight of the working class.” Steele’s concise summary of the book follows.

An interesting book that discusses the plight of the working class is Fred Goldstein’s “Low-Wage Capitalism: What the new globalized, high-tech imperialism means for the class struggle in the U.S.”

“Low-Wage Capitalism” is based on Marxist concepts to show how the global restructuring of capitalism is providing a basis for social upheaval among the U.S. working class.

Fred Goldstein argues that modern technology allows transnational corporations to put workers who reside in rich countries in competition with workers in poor, low-wage countries. Furthermore, low-wage immigrants in the U.S. are exploited and are forced to accept low wages and unfavorable working conditions. As a result, workers in the U.S. have no choice but to accept low wages and reduced benefits. Low-wage workers in the U.S. are faced with layoffs and have resorted to borrowing just to make ends meet.

According to Fred Goldstein, the current struggle of low-wage workers is the foundation for social upheaval.

Author Fred Goldstein, who bases his writing on the principles of Karl Marx, is a contributing editor to Workers World.

“Low-Wage Capitalism” is available through Leftbooks. Leftbooks promotes political involvement through progressive and alternative materials. All of Leftbooks’ proceeds are used to fight against war, racism, and injustice. In April 2010, Leftbooks was one of many fascinating participants at the Los Angeles Times Festival of Books.

“Low-Wage Capitalism” is also available at Los Angeles-area Barnes and Noble and Borders bookstores. It can be ordered through Amazon.com.

Information about LWC can be found at leftbooks.com, along with a link to this review.