Rate of exploitation
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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]
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See also
- Exploitation of labour
- Marginal product of labor
- Marxian economics
- Rate of profit
- Surplus value
- Technological unemployment
References
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