Policy@McCombs cover image

Lecture #4 Marxist Politics

Policy@McCombs

00:00

Marx's Theory of Wages

Wages are defined by the following characteristics, according to Marx's economists. The price is strictly proportional to the quantity of labor power measured in hours. According to Marx's theory, a wage then has these three characteristics both under capitalism and under socialism. As socialism develops, there occurs the withering away of the exchange economy.

Transcript
Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app