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I recently read through Value, Price and Profit by Marx.
Marx starts off the pamphlet with a question of the impact of a rise in wages on the material conditions of wage workers, all else being equal. This question was motivated by Marx's contemporary Weston, who falsely asserted that a rise in wages would harm the working class. Such a question is still relevant today, given the absurdity of so-called "wage-price spirals" on the costs of commodities.
#socialism #communism #marxism #inflation
The mention of the positive correlation between wage and market demand also shows that Marx had the awareness that the market economy weight the demand of the people according to their wealth. I had heard more absurd claim from the victim of Communism than the argument that higher wage increase with the claim that any wage increase will suddenly lead to recession. In the first place, the priority to people who more property than to people who provide the labor proves that the Capitalists never support meritocracy and also provide more evidence that that Capitalists hypocritically use the very state terrorism and free riding that they projected to Communism.
The mention of the positive correlation between wage and market demand also shows that Marx had the awareness that the market economy weight the demand of the people according to their wealth. I had heard more absurd claim from the victim of Communism than the argument that higher wage increase with the claim that any wage increase will suddenly lead to recession. In the first place, the priority to people who more property than to people who provide the labor proves that the Capitalists never support meritocracy and also provide more evidence that that Capitalists hypocritically use the very state terrorism and free riding that they projected to Communism.