Tag Archives: labor power

For Marx and many Marxists, money is based in a commodity; in Modern Monetary Theory (MMT), it is not, being based instead in a social relationship that holds more generally than just to commodity production and exchange. Even so, to the extent that commodity production and exchange are given sway within ‘modern money’ economies, operation of the Marxian ‘law of value’ appears to be compatible with MMT. It is just that, from an MMT perspective, private for-profit market-based activity will...

Nicholas Kaldor on how neoliberalism weakened labour power. Happy Labor Day to all those that don't have a passive income from portfolio investment. You are the people that get it done. The Case for Concerted ActionLabour Day!V. Ramanan

Kalecki quote. The Case for Concerted ActionMichal Kalecki On The Effect Of Wages On Employment V. RamananSee also @Brankomilan leads us to this (french) pieceabout Austria. It states that the Austrian government enacted a new law which authorizes working days of 12 hours and working weeks of 60 hours.A). This is a clear case of retrogression. It’s good to read what, in 1921, the International Labor Office stated in its first annual report…. Real-World Economics Review BlogProductivity in...

On May 4, 2018, the US Bureau of Labor Statistics (BLS) released their latest labour market data – Employment Situation Summary – April 2018 – which showed that total non-farm employment from the payroll survey rose by just 164,000 in April, which was an improvement on the very modest rise in March. The Labour Force Survey data, however, showed that employment only rose by 3 thousand) in April 2018 but was accompanied by a substantial fall in the labour force (236 thousand) which meant that...