The July labor report recorded the army of the unemployed as nearly 15 million.

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Using the Marxist analysis this is simply the end of the reserve army of the unemployed.

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So, this is where we turn to Karl Marx and his idea of the reserve army of the unemployed.

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Start quite simply with the twin concepts of the reserve army of the unemployed and the monopoly or not of capitalist employers.

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The army of the unemployed and underemployed consequently totals nearly 26 million.

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What Marx called the reserve army of the unemployed.

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Recall that the capitalists are only able to grind the faces of the workers into the dust when there is a reserve army of the unemployed.

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The first is when we have monopoly capitalism (what we would now call a monopsony, a word unknown in his time, a single purchaser of labour) and the second is when there is a reserve army of the unemployed.

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The second is where there is a reserve army of the unemployed.

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That includes an army of the unemployed or underemployed of over 26 million Americans.

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Thus there is no relevant army of the unemployed and thus wages get bid up in the manner we see.

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That great Reserve Army of the Unemployed that could be dragged out of the rural hinterland to work in the factories is now exhausted.

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But as soon as that reserve army of the unemployed is exhausted then the capitalists (running pig dogs the lot of them of course) will have to compete with each other for the profits that can be made by employing that labour now in short supply.

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If Hartz IV succeeds, Germany will have taken a big step towards helping its army of long-term unemployed off the dole and into work.

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