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Quote by Richard D. Wolff

“There are a lot of things we all know that don't want to face. I hope you already know that. It will save you a lot of grief if you are aware and expect to discover it about yourself.”

Quote by Richard D. Wolff

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Richard D. Wolff
Richard D. Wolff

Richard D. Wolff is an American economist renowned for his application of Marxist economics and analysis of capitalist economic crises. His contributions to the field of economics include labor theory of value, the theory of surplus value, and theories of economic crises. Born on April 1, 1942, Wolff has served as a professor of economics at various universities. more

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“Take the example of our spinner. We have seen that, to daily reproduce his labouring power, he must daily reproduce a value of three shillings, which he will do by working six hours daily. But this does not disable him from working ten or twelve or more hours a day. But by paying the daily or weekly value of the spinner's labouring power the capitalist has acquired the right of using that labouring power during the whole day or week. He will, therefore, make him work say, daily, twelve hours. Over and above the six hours required to replace his wages, or the value of his labouring power, he will, therefore, have to work six other hours, which I shall call hours of surplus labour, which surplus labour will realize itself in a surplus value and a surplus produce. If our spinner, for example, by his daily labour of six hours, added three shillings' value to the cotton, a value forming an exact equivalent to his wages, he will, in twelce hours, add six shillings' worth to the cotton, and produce a proportional surplus of yarn. As he has sold his labouring power to the capitalist, the whole value of produce created by him belongs to the capitalist, the owner pro tem. of his labouring power. By advancing three shillings, the capitalist will, therefore, realize a value of six shillings, because, advancing a value in which six hours of labour are crystallized. By repeating this same process daily, the capitalist will daily advance three shillings and daily pocket six shillings, one half of which will go to pay wages anew, and the other half of which will form surplus value, for which the capitalist pays no equivalent. It is this sort of exchange between capital and labour upon which capitalistic production, or the wages system, is founded, and which must constantly result in reproducing the working man as a working man, and the capitalist as a capitalist.”

TheoryCapitalismEconomicsMarxismWage LaborLabor Theory Of ValueMarxian EconomicsSurplus Value
Book:Wage-Labour and Capital & Value, Price and Profit
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“The cry for an equality of wages rests, therefore, upon a mistake is an inane wish never to be fulfilled. It is an offspring of that false and superficial radicalism that accepts premises and tries to evade conclusions. Upon the basis of the wages system the value of labouring power is settled like that of every other commodity; and as different kinds of labouring power have different values, or require different quantities of labour for their production, they must fetch different prices in the labour market. To clamour for equal or even equitable retribution on the basis of the wages system is the same as to clamour for freedom on the basis of the slavery system. What you think just or equitable is out of the question. The question is: What is necessary and unavoidable with a given system of production? After what has been said, it will be seen that the value of labouring power is determined by the value of the necessaries required to produce, develop, maintain, and perpetuate the labouring power.”

TheoryCapitalismEconomicsMarxismMinimum WageWage LaborLabor Theory Of ValueMarxian Economics
Book:Wage-Labour and Capital & Value, Price and Profit
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“This false appearance distinguishes wages labour from other historical forms of labour. On the basis of the wages system even the unpaid labour seems to be paid labour. With the slave, on the contrary, even that part of his labour which is paid appears to be unpaid. Of course, in order to work the slave must live, and one part of his working day goes to replace the value of his own maintenance. But since no bargain is struck between him and his master, and no acts of selling and buying are going on between the two parties, all his labour seems to be given away for nothing.”

CapitalismSlaveryMarxismMarxKarl MarxWage LaborLabor Theory Of ValueMarxian Economics
Book:Wage-Labour and Capital & Value, Price and Profit
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“It is, perhaps, impossible to proportion exactly the price of labor to the profits it produces; and it will also be said, as an apology for the injustice, that were a workman to receive an increase of wages daily he would not save it against old age, nor be much better for it in the interim.”

EconomicsSocial JusticeWage Labor
Book:Agrarian Justice Opposed to Agrarian Law, and to Agrarian Monopoly; Being a Plan for Meliorating the Condition of Man
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“Think it over and see if it is not the law itself, the government which really creates crime by compelling people to live in conditions that make them bad. See how law and government uphold and protect the biggest crime of all, the mother of all crimes, the capitalistic wage system, and then proceeds to punish the poor criminal.”

CapitalismAnarchismWage SlaveryAnti CapitalismWage LaborAnarcho Communism
Book:Now & After: The ABC of Communist Anarchism: Enriched edition.
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“Americans have clung to the meritocratic tautology that individuals are paid what they’re worth in the market, without examining changes in the legal and political institutions that define the market. This tautology is easily confused with a moral claim that people deserve what they are paid. Yet this claim is meaningful only if the system’s legal and political institutions are morally just. It has lured us into thinking nothing can or should be done to alter what people are paid because the market has decreed it. By this logic, the oligarchy is natural and inevitable.”

PhilosophyPoliticsEconomicsSystemsWage Labor
Book:The System: Who Rigged It, How We Fix It
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“In point of fact, however, whether a man works three days of the week for himself on his own field and three days for nothing on the estate of his lord, or whether he works in the factory or the workshop six hours daily for himself and six for his employer, comes to the same, although in the latter case the paid and unpaid portions of labour are inseparably mixed up with each other, and the nature of the whole transaction is completely masked by the intervention of a contract and the pay received at the end of the week. The gratuitous labour appears to be voluntarily given in the one instance, and to be compulsory in the other. That makes all the difference.”

CapitalismFeudalismWage Labor
Book:Wage-Labour and Capital & Value, Price and Profit
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