150 years after Marx debunked the wages fund theory people still espouse it

just fuck my shit up
reactionaries like to claim we have some kind of stranglehold over society while everyone ignores marx's legit criticism of political economy

btw, everyone here needs to fucking read, you gotta have some ammunition to counter classcucks who think they know "basic economics"

I don't even think people like this legitimately ignore Marx's criticism, I think they just don't even know it exists or can't be bothered to read any because they've already heard "socialism is when the gubmint does stuff" or "100 million died communism debunked" and think that's that

it's useless to even talk to these people, they cannot believe anything but what society tells them to.

where does marx even talk about this?

wage, labor, and capital for one

It is correct though I think that when you raise wages you will cause inflation in a market economy. As soon as demand increases (due to min wage workers having more money) the cost of living will increase. Take somewhere like the UK, not enough homes are being built. Therefore, it doesn't matter how much money people have, because there simply isn't enough (in the private property system, there are in fact enough houses to go around) housing, particularly in inner city areas with dense populations. So workers having more cash will simply mean higher demand on housing. Considering they will still be minimum wage workers, it will still be low cost housing. You will also see for example more young people feeling able to move out of their parents, and so demand will increase in this way. This is why markets do no work and why a fully planned economy is needed, a market economy will always be subject to such pressures, people will always try and secure a certain standard for themselves, as individuals in a market economy this means scratching for whatever you can get, the general will is erratic and selfish, the capitalist state is not physical powerful enough to curb this general will, nothing really is besides material abundance, which is why they will always be tinkering with the tax code ad nauseum, cutting here or pumping up there, wrestling with mass discontent caused by the contradictions inherent in the class system. It is only outside of the class/property system that the general will can be collective, it is the only system where i makes sense for the individual to act collectively

value price and profit

You either have inflation or unemployment. Inflation in a growing economy is a good thing. Porky hates inflation (because they have a lot of capital so if money is worth less actual things, porky is sad) so he keeps a high level of structural unemployment that isn't going to go anywhere under neolib policies.

I'm in Banbury and most of the factories and warehouses already pay about £10 or more per hour (not including nightworkers) with a further 3 factories being built here in spite of Brexit and such high wages.

And what's funny is that it's mostly Eastern European workers in these jobs ie the wages are already depressed from immigration.

And Corbyn's £10 an hour min wage won't take effect for another 3 years when he gets in, when we already have these rates for manual labour.

It's not like £10 an hour is even a good wage now anyway.

Debt is worth less with inflation which is essentially money for nothing.

It's no surprise that high interest rates are used to curb inflation knowing this.

and with unemployment comes low wages, as people compete in the job market for who gets to be the wageslave. With automation, the competition is increased extravagantly, so wages can be held down still more. With low wages, comes low demand, which means less business, less exchange of goods,which means less jobs, which means more competition, which means lower wages still, for porky this means he is able to hyper exploit, but also that less people will be buying his products so less dividendies…..and we all know what happens when baby doesn't get his dividendies….Whichever way you go, with capitalism, you are fucked.

Truly the most efficient system ever devised

i get £9 in scotland and working 37 hours is just enough to get a small flat that isn't completely shit, pay bills, eat and maybe have £100 left over for saving/funsies, unforeseen expenditure such as laptop braking and costing more than 100 pounds, or bike (mode of transport to work) braking and costing £50, having to travel somewhere for a funeral, train ticket maybe £100 etc. That 100 is also books, shit like razors or headphones, all those little things. And thats only being frugal with food. I've started lifting recently so I eat much more and that is pretty tough to do.

but muh market

also on the
Just wanted to throw in that basically its got to the point where most economies are only growing in the sense that they are rebuilding after a crash, and they will only be growing until the next crash, and inflation is a sign that things will soon be crashing or that they are already crashing, so the point at which inflation is good is basically the sweet spot of the bubble

I live in the southwest and make 7.50 an hour, needless to say I live in my parents house still. It sucks balls.

maybe if you stop bringing it to the races…

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terribly sorry, in the future I'll refrain from making light humor over common spelling mistakes, my lord.

apology acknowledged, however, you are not forgiven, bitch

Lucky bastard! I'm on £7.50ph as a freezer cleaner. While the pickers earn ~£8.20ph
Whats overtime like at your place? Mines Single rate :^🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧🇬🇧)

£10ph would make life alot easier for me then it is now.

t. citizen weston
read

It was never planned out

Shit post tbh

Do not bring up Marx when debating these people, and don't be preachy. Do it Columbo-style. Get them to ask questions: How do you determine productivity? By what it sells for (if it sells at all). Do rich people buy the same shit as poor people, just more of it? Would a different income distribution change the demand pattern?

So the standard of what is efficient changes when the income distribution changes.

You should read it because it completely debunks your argument.

But dont you know anything marx said is by default wrong because he was lazy?

Marx debunked anarchism too and you retards still think of it

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it doesn't contribute to the thread really at all. If he took a quick two sentences to say, in Value Price and Profit, Karl Marx says X, which is in contradiction to what you say here Y, maybe you should read it, that would be fine. Thats all I'm saying. If we want good threads we have to be providing each other with a lot of information

It's not just regular people. Even very smart, well-read economists seem to be absolutely abysmal at applying basic economic principles like supply and demand to current issues.