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No, it just proves that Marx was right about the nature of the wage/salary. The value of labour power is the cost of reproducing/maintaining that worker at a pa
by s_kilk 6y ago
No, it just proves that Marx was right about the nature of the wage/salary. The value of labour power is the cost of reproducing/maintaining that worker at a particular standard of living, not some particular fraction of the value generated at work.
- dlkf 6y agoAbove, user mrbuddycasino said exactly the same thing without invoking a certain philosopher's name. That post is getting upvoted. I think hn users reflexively stop reading and downvote when they see "Marx." Which is a shame, because he was an interesting guy. You don't need to be a full-fledged communist to acknowledge that he had a lot of insight.
- erik_seaberg 6y agoMarx was a crank who speculated about work and value but never tried to hire anyone. Why would they know or care about your standard of living? Supply and demand determine the wage they need to offer to keep you. If you move to a labor market with lower local demand, you now have fewer potential employers making offers that Facebook must outbid.