New text by TPTG: "Burdened With Debt Reloaded: The Politics of Devaluation"

In Greece, the initial austerity measures developed into a full blown shock policy of devaluation of capital, which has deepened the recession and increased public debt. A main ingredient of the politics of devaluation of capital is the depreciation of labour power which aims at the weakening of the power of the working class by establishing permanent austerity and disciplining mechanisms, and by the creation of a large reserve army. Furthermore, this depreciation of labour power is facilitated by the institutional abolition of collective bargaining agreements, a process which, to a great extent, undermines the very function of the labour power representation mechanisms…

By The Children Of The Gallery (TPTG): http://www.tapaidiatisgalarias.org/?page_id=105

Full text (pdf): http://www.tapaidiatisgalarias.org/wp-content/uploads/2011/10/reloaded.pdf