return2ozma@lemmy.world to Work Reform@lemmy.world · 1 year agoWatch: Billionaire CEO says unemployment 'has to jump' to put 'arrogant' workers in their placewww.rawstory.comexternal-linkmessage-square130fedilinkarrow-up1635arrow-down112cross-posted to: news@lemmy.world
arrow-up1623arrow-down1external-linkWatch: Billionaire CEO says unemployment 'has to jump' to put 'arrogant' workers in their placewww.rawstory.comreturn2ozma@lemmy.world to Work Reform@lemmy.world · 1 year agomessage-square130fedilinkcross-posted to: news@lemmy.world
minus-squarestilgar [he/him] @infosec.publinkfedilinkEnglisharrow-up17·1 year agoThis effect was analysed in great detail by Marx in the 19th century, so it’s not a characteristic of late stage capitalism, just of capitalism. His term “Reserve army of labour” refers to the unemployed. Taking them as a whole, the general movements of wages are exclusively regulated by the expansion and contraction of the industrial reserve army… From Capital by Marx https://en.m.wikipedia.org/wiki/Reserve_army_of_labour
This effect was analysed in great detail by Marx in the 19th century, so it’s not a characteristic of late stage capitalism, just of capitalism.
His term “Reserve army of labour” refers to the unemployed.
From Capital by Marx
https://en.m.wikipedia.org/wiki/Reserve_army_of_labour