Heterodox
To the Marxists everywhere, my simple challenge: Is your view that Marx’s theory of wage determination in volume 1 of Capital that real wages in capitalism can and will rise above the value of the maintenance and reproduction of labour, and in the long run will keep rising, vastly improving the living standards of workers? If you say “yes,” then my refutation here of Marx’s view of a rising rate of exploitation in capitalism (from increasing surplus value extracted from workers) is...
Read More »A Simple Challenge to Marxists on the Theory of Wage Determination in Volume 1 of Capital
