Which of the following theories of wages was propounded by Karl Marx ?
Karl Marx propounded the Surplus Value Theory of wages. He argued that labour is the source of all value, but capitalist employers pay workers only a subsistence wage while…
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Which of the following theories of wages was propounded by Karl Marx ?
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Correct answer B
Karl Marx propounded the Surplus Value Theory of wages. He argued that labour is the source of all value, but capitalist employers pay workers only a subsistence wage while appropriating the excess value created by workers' labour as 'surplus value' or profit.
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UGC NET HRM / Labour Welfare and Industrial Relations