User:Philo378

"Relative Wage"

"Real wages may remain the same, they may even rise, nevertheless the relative wages may fall. Let us suppose, for instance, that all means of subsistence have fallen 2/3rds in price, while the day's wages have fallen but 1/3rd – for example, from three to two shillings. Although the worker can now get a greater amount of commodities with these two shillings than he formerly did with three shillings, yet his wages have decreased in proportion to the gain of the capitalist. The profit of the capitalist – the manufacturer's for instance – has increased one shilling, which means that for a smaller amount of exchange values, which he pays to the worker, the latter must produce a greater amount of exchange values than before. The share of capitals in proportion to the share of labour has risen. The distribution of social wealth between capital and labour has become still more unequal. The capitalist commands a greater amount of labour with the same capital. The power of the capitalist class over the working class has grown, the social position of the worker has become worse, has been forced down still another degree below that of the capitalist."http://www.marxists.org/archive/marx/works/1847/wage-labour/ch07.htm

Rich Get Richer and Poor Get Poorer

http://en.wikipedia.org/wiki/Immiseration_thesis

"absolute immiseration" http://en.wikipedia.org/wiki/Reserve_army_of_labour http://en.wikipedia.org/wiki/Law_of_accumulation