Heterodox
Chapter 20 of volume 1 of Capital is called “Time-Wages” and deals with wages paid by the hour.Wages can take various forms but the two fundamental forms are time wages or piece wages (Marx 1990: 683).In essence, the hourly wage can be calculated by the value of a day of labour-power (the subsistence wage equal to the value of the maintenance and reproduction of labour-power) divided by the number of hours in a working day (Brewer 1984: 64). As the working day rises so the hourly wage rate...
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