Workers produce value that is greater than the wage paid to them. This surplus value is retained by the owners of capital and contributes to their profit (above the costs of maintaining the means of...


Workers produce value that is greater than the wage paid to them. This surplus value is retained by the owners of capital and contributes to their profit (above the costs of maintaining the means of production). In contrast to economic systems that strive for balance and stability in labor output and the benefits reaped, capitalist systems strive for continual increases in profits and rates of growth. Capitalists raise profits by increasing the scale of production, purchasing more machinery, increasing the efficiency of production, investing in new technology, finding inexpensive labor, and increasing labor output.



May 19, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here