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{{Short description|Concept in Marxian economics}} |
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{{Marxian economics}} |
{{Marxian economics}} |
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In [[Marxian economics]], the '''rate of exploitation''' is the ratio of the total amount of unpaid labor done ([[surplus-value]]) to the total amount of wages paid (the value of [[labour power]]). The rate of exploitation is often also called the '''rate of surplus-value |
In [[Marxian economics]], the '''rate of exploitation''' is the ratio of the total amount of unpaid labor done ([[surplus-value]]) to the total amount of wages paid (the value of [[labour power]]). The rate of exploitation is often also called the '''rate of surplus-value'''.<ref>{{cite book |last1=Marx |first1=Karl |title=Capital |date=1867 |location=Volume I, Chapter 9, Section 1 |url=https://www.marxists.org/archive/marx/works/1867-c1/ch09.htm |accessdate=2 June 2019 |chapter=The Degree of Exploitation of Labour-Power}}</ref> |
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==Divergence of the two rates== |
==Divergence of the two rates== |
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Marx did not regard the rate of surplus value and the rate of exploitation as necessarily identical, ''insofar'' as there was a divergence between surplus value ''realised'' and surplus value ''produced''. Thus, the quantity of [[surplus labour]] performed by workers in an enterprise might correspond to a value higher or lower than the surplus value actually ''realised'' as profit income upon sales of output. The implication is that if the gross profit volume was related to wage costs to establish the rate of surplus value, this might overstate or understate the real rate of labor-exploitation. Although this is a subtle point, it has sometimes played an important role in wage bargaining negotiations by [[trade union]]s. For an extreme example, workers might work extremely hard in an enterprise which nevertheless operates at a loss. For another extreme example, workers might work less hard, knowing that their product will sell like hotcakes in a |
Marx did not regard the rate of surplus value and the rate of exploitation as necessarily identical, ''insofar'' as there was a divergence between surplus value ''realised'' and surplus value ''produced''. Thus, the quantity of [[surplus labour]] performed by workers in an enterprise might correspond to a value higher or lower than the surplus value actually ''realised'' as profit income upon sales of output. The implication is that if the gross profit volume was related to wage costs to establish the rate of surplus value, this might overstate or understate the real rate of labor-exploitation. Although this is a subtle point, it has sometimes played an important role in wage bargaining negotiations by [[trade union]]s. For an extreme example, workers might work extremely hard in an enterprise which nevertheless operates at a loss. For another extreme example, workers might work less hard, knowing that their product will sell like hotcakes in a seller's market at sharply inflated prices, yielding profits disproportionate to labour input. The divergence between surplus value ''realised'' and surplus value ''produced'' becomes even more marked if surplus value is viewed in terms of the net incomes of [[social classes]], i.e. net labor income and net property income.<ref>{{cite book |last1=Marx |first1=Karl |title=Capital |date=1867 |location=Volume I, Chapter 9 |url=https://www.marxists.org/archive/marx/works/1867-c1/ch09.htm |accessdate=2 June 2019 |chapter= The Rate of Surplus-Value}}</ref> Marx identified five different formulae for the rate of surplus value (see [[surplus value]]).<ref>{{cite book |last1=Marx |first1=Karl |title=Capital |date=1867 |location=Volume I, Chapter 18 |url= https://www.marxists.org/archive/marx/works/1867-c1/ch18.htm |accessdate=2 June 2019 |chapter=Various Formula for the Rate of Surplus-Value}}</ref> |
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==See also== |
==See also== |
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*[[Exploitation of labour]] |
*[[Exploitation of labour]] |
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*[[Marginal product of labor]] |
*[[Marginal product of labor]] |
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*[[Marxian economics]] |
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*[[Rate of profit]] |
*[[Rate of profit]] |
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*[[Surplus value]] |
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*[[Technological unemployment]] |
*[[Technological unemployment]] |
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Latest revision as of 15:29, 27 December 2023
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In Marxian economics, the rate of exploitation is the ratio of the total amount of unpaid labor done (surplus-value) to the total amount of wages paid (the value of labour power). The rate of exploitation is often also called the rate of surplus-value.[1]
Divergence of the two rates
[edit]Marx did not regard the rate of surplus value and the rate of exploitation as necessarily identical, insofar as there was a divergence between surplus value realised and surplus value produced. Thus, the quantity of surplus labour performed by workers in an enterprise might correspond to a value higher or lower than the surplus value actually realised as profit income upon sales of output. The implication is that if the gross profit volume was related to wage costs to establish the rate of surplus value, this might overstate or understate the real rate of labor-exploitation. Although this is a subtle point, it has sometimes played an important role in wage bargaining negotiations by trade unions. For an extreme example, workers might work extremely hard in an enterprise which nevertheless operates at a loss. For another extreme example, workers might work less hard, knowing that their product will sell like hotcakes in a seller's market at sharply inflated prices, yielding profits disproportionate to labour input. The divergence between surplus value realised and surplus value produced becomes even more marked if surplus value is viewed in terms of the net incomes of social classes, i.e. net labor income and net property income.[2] Marx identified five different formulae for the rate of surplus value (see surplus value).[3]
See also
[edit]References
[edit]- ^ Marx, Karl (1867). "The Degree of Exploitation of Labour-Power". Capital. Volume I, Chapter 9, Section 1. Retrieved 2 June 2019.
{{cite book}}: CS1 maint: location (link) CS1 maint: location missing publisher (link) - ^ Marx, Karl (1867). "The Rate of Surplus-Value". Capital. Volume I, Chapter 9. Retrieved 2 June 2019.
{{cite book}}: CS1 maint: location (link) CS1 maint: location missing publisher (link) - ^ Marx, Karl (1867). "Various Formula for the Rate of Surplus-Value". Capital. Volume I, Chapter 18. Retrieved 2 June 2019.
{{cite book}}: CS1 maint: location (link) CS1 maint: location missing publisher (link)