3 ms·
Likewise, wages are not a measurement of labor, but a measurement of market power. If wages are going down or stagnating, that is an indicator of loss of labor
by hayst4ck 3y ago
Likewise, wages are not a measurement of labor, but a measurement of market power.
If wages are going down or stagnating, that is an indicator of loss of labor market power and loss of labor power in general.
It's also important to understand that some people earn in proportion to what they own/their capital, while others earn in proportion to their time.