Andrew Glyn and the Asian reserve labour army

Oxford University economics fellow Andrew Glyn believes that the "reserve army of labour" that Karl Marx described in the late 19th century is now going global. "The extraordinary transformation of China's and India's economies promises to bring Marx and Engels' prediction to completion. ... Together with tens of millions of urban underemployed, [agricultural workers] constitute a reserve army of labour of quite unprecedented magnitude. ...This could bring intense pressure on jobs and working conditions in Britain and elsewhere. Even sectors where relocation was not possible, like retailing or education, would be flooded with job seekers. The bargaining chips would be in the hands of capital to a degree not seen since the industrial revolution."

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