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Since all labourers necessarily are consumers, a point that Marx hits home repeatedly, the question whether labour prices are too low or consumer prices too hig
by codeflo 4y ago
Since all labourers necessarily are consumers, a point that Marx hits home repeatedly, the question whether labour prices are too low or consumer prices too high is irrelevant, they are mathematically equivalent.
- hkt 4y agoThey aren't - that's the point Marx makes in describing the idea of alienation from the fruits of one's labour. Because labour is commodified, the rate of pay does not relate to the value at the point of consumption - the difference between the price of the labour (eg labour value) and the price paid (exchange value) is profit, which is generally quite well known to be what the capitalists are in it for..! To put it more clearly: if I create one unit of value a day, it follows that for a profit to be accrued, it is not possible for me to be paid one unit of value. I'll be paid less. This is why the labour share of national income is still very important to some on the left, and it is the natural flip side to the idea of value add.