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Abstract labour and concrete labour refer to a distinction made by Karl Marx in his critique of political economy.It refers to the difference between human labour in general as economically valuable worktime versus human labour as a particular activity that has a specific useful effect within the (capitalist) mode of production.
Self determination theory (SDT) [38] suggests that people in the workplace are generally motivated by either intrinsic or extrinsic rewards or rather lie on a continuum between the two. Extrinsic rewards are tangible or visible rewards and can include financial compensation (salary, wages, bonuses etc.) and promotion.
Many of the quantities of interest, such as income and consumption, are monetary. Keynes often expresses such quantities in wage units (Chapter 4): to be precise, a value in wage units is equal to its price in money terms divided by W, the wage (in money units) per man-hour of labour. Therefore it is a unit expressed in hours of labour.
The Massachusetts Equal Pay Act only permits differences in pay when it is based on merit, seniority, revenue generated, education, and location or travel. [49] At the time of its arrival in 2018, the Massachusetts Equal Pay Act became the strongest advocate for equal pay between genders in the United States. [50]
In 2018, 83% of all private-sector employees were covered by collective agreements, 100% of public sector employees and in all 90% (referring to the whole labor market). [14] This reflects the dominance of self-regulation (regulation by the labour market parties themselves) over state regulation in Swedish industrial relations. [15]
Remuneration is the pay or other financial compensation provided in exchange for an employee's services performed (not to be confused with giving (away), or donating, or the act of providing to). [1] A number of complementary benefits in addition to pay are increasingly popular remuneration mechanisms.
A 'compensating differential', in contrast, refers exclusively to differences in pay due to differences in the jobs themselves, for a given worker (or for two identical workers). In the theory of price indices, economists also use the term compensating variation, which is yet another unrelated concept. A 'compensating variation' is the change ...
"A fair day's pay for a fair day's work" vs "Abolition of the Wages System", One Big Union, May 1919. A fair day's wage for a fair day's work is an objective of the labor movement, trade unions and other workers' groups, to increase pay, and adopt reasonable hours of work. It is a motto of the American Federation of Labor.