After finishing a long chapter 1, I have finally moved on to the next chapter. The author starts off with defining what wage is, saying that it is , " ...the compensation to a hired person for manual labor" (George 132). However, he states that in the political economy, this word has a much wider meaning. There is labor, which includes human exertion in the production of wealth, and wages. The wages is the return received for the exertion of labor. Land, labor and capital are the factors of production. Superiority augments the income of an individual, but only when there is an increased power of labor. Enslaves end up losing what they gain. |
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