> If labour is recompensed at a full rate of 1 hour per hour rather than at a rate of 30 mins in the hour there
> is a greater incentive to use labour saving machinery. This is the fundamental reason why payment in
> labour hours is likely to accelerate the development of the forces of production.
I don't understand. If labor is more expensive then labor-saving
machinery is also more expensive.
So, all other things being equal, there would be no relative change in
the cost of labor compared to the cost of machinery, if labor were
recompensed at its full rate.
Am I missing something?
However, if profit-income is abolished, then the resulting higher
"wage" means more of the total labor-time is devoted to producing the
real wage rather than costly luxuries for the few. So I'd expect the
direction of technical progress to fundamentally change in a more
progressive and egalitarian direction.
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Received on Wed May 6 18:04:32 2009
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