Alexandria Ocasio-Cortez's tweet about workers being paid 'less than the value they create' is essentially a restatement of Marx's Labour Theory of Value — here's why that's interesting
Alexandra Ocasio-Cortez tweeted, "Workers are often paid far less than the value they create."
The theory suggests that economies run into trouble when workers can't afford to buy the products they are making.
Investment bank analysts at Citi, HSBC, and Macquarie are worrying over the same issue.
There are so few rich people, and so many people sharing a declining portion of wealth, that the next recession might actually be exacerbated by the inequality that low pay has created, these analysts argue.
You can't successfully run an economy based on the spending power of a tiny number of rich people.
https://www.businessinsider.com/alexandria-ocasio-cortezs-tweet-workers-paid-far-less-than-the-value-they-create-2019-3
Does she have a point? Was Marx right? Does laissez faire capitalism contain the seeds of its own destruction?
https://hbr.org/2011/09/was-marx-right
https://www.nytimes.com/2018/04/30/opinion/karl-marx-at-200-influence.html
Hmm-m-m-m...
Alexandra Ocasio-Cortez tweeted, "Workers are often paid far less than the value they create."
The theory suggests that economies run into trouble when workers can't afford to buy the products they are making.
Investment bank analysts at Citi, HSBC, and Macquarie are worrying over the same issue.
There are so few rich people, and so many people sharing a declining portion of wealth, that the next recession might actually be exacerbated by the inequality that low pay has created, these analysts argue.
You can't successfully run an economy based on the spending power of a tiny number of rich people.
https://www.businessinsider.com/alexandria-ocasio-cortezs-tweet-workers-paid-far-less-than-the-value-they-create-2019-3
Does she have a point? Was Marx right? Does laissez faire capitalism contain the seeds of its own destruction?
https://hbr.org/2011/09/was-marx-right
https://www.nytimes.com/2018/04/30/opinion/karl-marx-at-200-influence.html
Hmm-m-m-m...