An Economic Interpretation of the Job

American boss buyers capi capitalist class capitalist industry class struggle coal commodity prices competition cost craft unions day's defeat demand dities duction economic eight hour day employer employing class enables the capitalist equivalent exchange value exploitation factories force gold greater high prices high wages higher wage hours of labor idle capital increase interest labor time necessary less living standard lower machinery machines means measure ment miner modities necessary to produce nominal wage organization paid the workers PENNSYLVANIA STATE UNIVERSITY prices of commodities production Profit-sharing purchase quantity of labor raise in wages raise the price rate of profit realized receives relative wage result Says Marx sellers sells his labor seven hours Smith social labor socially necessary labor standard of living Standard Oil strive supply surplus value talist tion trade unions unpaid labor volume of surplus wage labor wage worker worker sells workman