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[692] Jason: First of all, as was mentioned in a prior submission
[2005fa:1796] by ADHH, capitalism
requires a significant amount of laborers in order to function. If
capital increases that will force there to be an increased need for
more laborers. One point that I liked from ADHH was that he mentioned
that with the increased amount of technology, there is an increased
need for laborers. However with the increase in technology there will
be a gradual decrease in the need for laborers, because various
machines and tools can be used to replace some laborers over time, which
will create an increased level of competition amongst the labor
force. With this phenomenon there will be a surplus labor supply which
is beneficial to the capitalist in that the laborers want to work and
with the decline in the need for laborers because of the advance in
technology the labor force is forced to accept whatever the
capitalist is willing to give him/her for their labor. For the
laborer, it is either he/she works for the wage that the capitalist is
willing to pay or he/she receives nothing because the capitalist has
the surplus labor force to fall back on and will find someone who is
willing to work for the wage he/she is going to pay. |
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