Reply To: Is capitalism collapsing?
I can’t understand how it would be possible for workers to be paid less than the value of their labour-power for a period of some ninety years. Wages are supposed to cover the cost of maintaining a worker’s skill and health, i.e to reproduce their working skills, and the cost of doing this is the value (in the Marxian sense) of their skills. So, if they are paid less than this they can’t reproduce their labour-power properlt and their working skills and health will deteriorate, which would be detrimental to the capitalist class by reducing their productivity. The capitalists would be weakening, if not killing, the golden goose. The whole idea is preposterous and hasn’t been the case because it couldn’t have been.