​Why Marx Was Wrong About Workers And Wages – Tyler Durden

Why Marx Was Wrong About Workers And Wages Authored by Allen Gindler via The Mises Institute, One of the central tenets of Marxism is the labor theory of value, which states that the value of a commodity is determined by the amount of socially necessary labor time required to produce it. In this framework, labor itself becomes a commodity—something that can be bought and sold in the marketplace. Marx argues that, under capitalism, workers are forced to sell their labor power to capitalists, who exploit them by paying wages that are less than the full value their labor produces. This…  — Continue at ZeroHedge News : Read More