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For Marxists, labour-as-commodity, which is how they regard wage labour, [10] provides a fundamental point of attack against capitalism. [11] "It can be persuasively argued," noted one concerned philosopher, "that the conception of the worker's labour as a commodity confirms Marx's stigmatisation of the wage system of private capitalism as ...
Depending on the structure and traditions of different economies around the world, wage rates will be influenced by market forces (supply and demand), labour organisation, legislation, and tradition. Market forces are perhaps more dominant in the United States , while tradition, social structure and seniority , perhaps play a greater role in ...
If p is the price level and W is the wage rate in money units, and if X is a value in real terms, then Xp/W is the same value in wage units; if Y is a monetary value, then Y/W is the value in wage units. If prices and wages move together, then values in wage units move in parallel with real values.
The California Labor Code, more formally known as "the Labor Code", [1] is a collection of civil law statutes for the State of California. The code is made up of statutes which govern the general obligations and rights of persons within the jurisdiction of the State of California .
Time Rate Systems. Time Rate System: Under this system, the worker is paid by the hour, day, week, or month. High Wage plan: Under this plan a worker is paid a wage rate which is substantially higher than the rate prevailing in the area or in the industry. In return, he is expected to maintain a very high level of performance, both quantitative ...
States’ minimum wage rates are often eclipsed by those in many of their own cities and counties. Take the city of Tukwila, Washington, just south of Seattle. Its minimum wage will hit $20.29 in ...
The marginal revenue productivity theory of wages is a model of wage levels in which they set to match to the marginal revenue product of labor, (the value of the marginal product of labor), which is the increment to revenues caused by the increment to output produced by the last laborer employed.
Federal rates are calculated based on regulations established by the US Department of Labor.According to Code of Federal Regulations, "The prevailing wage shall be the wage paid to the majority (more than 50 percent) of the laborers or mechanics in the classification on similar projects in the area during the period in question.