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In exchange for the money paid as wages (usual for short-term work-contracts) or salaries (in permanent employment contracts), the work product generally becomes the undifferentiated property of the employer. A wage labourer is a person whose primary means of income is from the selling of their labour in this way.
If, for example, the state imposes a tax on consumer goods and services (an indirect tax or consumption tax such as value-added tax or goods and services tax), then what the worker can buy with his wage-money is reduced. Or, if price inflation increases, then again the worker can buy less with his wage money.
Wage differences exist, particularly in mixed and fully/partly flexible labour markets. For example, the wages of a doctor and a port cleaner, both employed by the NHS, differ greatly. There are various factors concerning this phenomenon. This includes the MRP of the worker. A doctor's MRP is far greater than that of the port cleaner.
The proletariat (/ ˌ p r oʊ l ɪ ˈ t ɛər i ə t /; from Latin proletarius 'producing offspring') is the social class of wage-earners, those members of a society whose possession of significant economic value is their labour power (their capacity to work). [1]
the definition of productive and unproductive labour is not static, but evolving; in the course of capitalist development, the division of labour is increasingly modified, to make more and more labour productive in the capitalistic sense, for example through marketisation and privatisation, value-based management, and Taylorism.
For example, according to the U.S. Bureau of Labor Statistics, in 2007 women of all races made approximately 80% of the median wage of their male counterparts. This is likely due to the supply and demand for women in the market because of family obligations. [13] Similarly, white men made about 84% the wage of Asian men, and black men 64%. [14]
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Marx concludes that as value is determined by labour, and as profit is the appropriated surplus value remaining after paying wages, that the maximum profit is set by the minimum wage necessary to sustain labour, but is in turn adjusted by the overall productive powers of labour using given tools and machines, the length of the workday, the ...