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Rate of exploitation

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Title: Rate of exploitation  
Author: World Heritage Encyclopedia
Language: English
Subject: Organic composition of capital, Surplus value, Monopsony, Marxian school of economics, Wage share
Collection: Economics, Marxian School of Economics, Marxist Theory, Political Economy, Rates
Publisher: World Heritage Encyclopedia
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Rate of exploitation

In Marxian economics, the rate of exploitation is the divergence between labor productivity and the wage rate. In Marx's analysis of capitalist development, technological progress yields a higher ratio of constant capital (non-labor inputs) to variable capital (labor inputs), which lowers the demand for labor relative to capital inputs. This causes unemployment that services to exert a downward pressure on wages while productivity per worker rises, thus increasing the rate of surplus value extraction.[1]

See also

References

  1. ^ Grossmann, Volker (January 26, 2001). Inequality, Economic Growth, and Technological Change: New Aspects in an Old Debate. Physica. p. 15.  
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