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What is the Investment Loss due to Uncertainty?

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  • Özgün Sarimehmet Duman

Abstract

This paper focuses on the primary struggle over absolute surplus value strategies in a capitalist society. It discusses the relationship between labour and capital, with a specific emphasis on the role of class struggle in the case of Greece. It analyses the policies of deunionisation, suppression of collective bargaining, deregulation, flexibilisation and social security reforms during the rise of neoliberalism from the late 1980s. It states that the high levels of class struggle were unyielding to the execution of absolute surplus value strategies in full. The paper argues that the post-2008economic crisis further increased the emphasis on these strategies with the intention to implement the long-been-postponed labour market reforms under the unique economic and political circumstances. Presenting a comparative inquiry into the pre- and post-crisis dynamics of struggle over absolute surplus value strategies, the paper indicates that the high levels of class struggle generated a barrier to the introduction o recovery policies as an initial response to the crisis.

Suggested Citation

  • Özgün Sarimehmet Duman, 2019. "What is the Investment Loss due to Uncertainty?," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 140, Hellenic Observatory, LSE.
  • Handle: RePEc:hel:greese:140
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    File URL: http://www.lse.ac.uk/Hellenic-Observatory/Assets/Documents/Publications/GreeSE-Papers/GreeSE-No140.pdf
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    References listed on IDEAS

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    1. John Holloway, 1996. "Global Capital and the National State," Palgrave Macmillan Books, in: Werner Bonefeld & John Holloway (ed.), Global Capital, National State and the Politics of Money, chapter 6, pages 116-140, Palgrave Macmillan.
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    3. Rüdig, Wolfgang & Karyotis, Georgios, 2014. "Who Protests in Greece? Mass Opposition to Austerity," British Journal of Political Science, Cambridge University Press, vol. 44(3), pages 487-513, July.
    4. Nicos Christodoulakis, 2010. "Crisis, Threats and Ways Out for the Greek Economy," Cyprus Economic Policy Review, University of Cyprus, Economics Research Centre, vol. 4(1), pages 89-96, June.
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    Keywords

    absolute surplus value strategy; class struggle; economic crisis; Greece; neoliberalism;
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