Capital's Future: A Contract for Labor

Understanding capital accumulation necessitates recognizing that workers are compensated not solely for their immediate labor but rather for a social contract that anticipates future labor. This arrangement illustrates the constraints of valorization, where the past labor of others influences current wages and the ability to produce commodities necessary for reproduction. Both micro and macro perspectives highlight the historical context of this dynamic, emphasizing the need to analyze how present decisions shape future conditions, which reflects a complex interplay between labor time, surplus value, and the interconnectedness of economic contributions over time.