Heterodox
Chapter 19 of volume 1 of Capital is called “The Transformation of the Value (and Respectively the Price) of Labour-Power into Wages” and discusses how capitalist wages conceal the reality that the wage is a payment for the value of the maintenance and reproduction of labour (Harvey 2010: 242), a subsistence wage, which is equal to the necessary part of the working day. But capitalists generally pay hourly wages so that this alleged reality is obscured (Brewer 1984: 63).The use-value that the...
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