Rate of exploitation

Marxian economics
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Topics Capital controversy Crisis theory Economic determinism Immiseration thesis Historical materialism Okishio's theorem Overaccumulation Overdetermination Overproduction Kondratiev wave Technological determinism Technological unemployment Temporal single-system interpretation Falling profit-rate tendency Transformation problem Underconsumption Value
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In Marxian economics, the rate of exploitation is the divergence between labor productivity and the wage rate. In Marx's analysis of capitalist development, technological progress yields a higher ratio of constant capital (non-labor inputs) to variable capital (labor inputs), which lowers the demand for labor relative to capital inputs. This causes unemployment that services to exert a downward pressure on wages while productivity per worker rises, thus increasing the rate of surplus value extraction.^[1]

References

↑ Grossmann, Volker (January 26, 2001). Inequality, Economic Growth, and Technological Change: New Aspects in an Old Debate. Physica. p. 15. ISBN 978-3790813647. As labor productivity rises but wages remain fixed (Marx called the gap between labor productivity and the wage rate the ‘rate of exploitation’), the ‘surplus value’ increases.

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Rate of exploitation

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References