[Marxism] Wages, profits, crisis, lies. . .

Philip Ferguson philipferguson8 at gmail.com
Sun Jan 21 18:59:41 MST 2018


But what do wages actually represent? Do wage claims cause inflation? What
is the relationship between wages, profits and economic crisis?

Capitalist production rests on two fundamentally antagonistic classes.
Capitalists own the means of production. Workers own merely their ability
to work, that is their labour-power.

In capitalist society, labour-power has become a commodity. That is, it is
bought and sold on the market, and has a value and a price, like all other
commodities.

Workers must sell their commodity, labour-power, on the market in order to
live. Capitalists must buy labour-power in order for their means of
production to operate and surplus-value to be created.

The value of a commodity is determined by. . .

full at:
https://rdln.wordpress.com/2015/04/23/from-the-vaults-two-articles-on-wages-profits-lies-and-capitalist-crisis/



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