Explain the idea of surplus value and why its existence means that workers do not get paid

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Explain the idea of surplus value and why its existence means that workers do not get paid the full value of their labour, contrary to neo-classical explanations of wage rates.

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Economics

ISBN: 9781473768543

5th Edition

Authors: Gregory Mankiw, Mark P. Taylor

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Question Posted: Apr 25, 2024 01:01 AM

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Explain the idea of surplus value and why its existence means that workers do not get paid

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Answer The concept of surplus value originates from Marxist economics and refers to the difference b...View the full answer

Economics

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