The Relationship of Wages to the Value of Labour-Power in Marx's Labour Market
Having explicitly rejected Malthus' law of population, Marx asserted in his early writings that it was competition that would keep wages fluctuating the value of labor-power, even though he did not consider the production of labor-power to be a capitalist process. This paper notes the inconsistency in this approach and then proposes that, implicit in Marx's mature works, there is a consistent mechanism through which wages gravitate toward the value of labor-power: this uses both the flexible "historical and moral" element of the value of labor-power and the reserve army hypothesis. This combination explains why wages follow a relatively even path over time. A model of the labor market is developed which appears to be consistent with Marx's mature writing. Copyright 1991 by Oxford University Press.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 15 (1991)
Issue (Month): 2 (June)
|Contact details of provider:|| Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK|
Fax: 01865 267 985
Web page: https://academic.oup.com/cje
|Order Information:||Web: http://www.oup.co.uk/journals|
When requesting a correction, please mention this item's handle: RePEc:oup:cambje:v:15:y:1991:i:2:p:199-213. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press)or (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.