Karl Marx's Thoughts on Wages and Employee-Employer Struggles
Directions:
The final must be typed, double-spaced, and no longer than 7 pages.
The final is due by midnight, Thursday, May 5, 2022
You may speak with other students about the test. However, you must turn in your own work. Use your own words; do not plagiarize. You may consult with other sources but you may not quote themor extensively rely upon them. In other words, for the answers, use only the assigned readings.
If you have questions or concerns during the test, please contact me.
The file attached will help you with the final. please use it and read it carefully, most of the answers are in there.
Below are 4 questions.
Choose 2 questions and provide answers to your selected questions.
Benjamin Kline Hunnicutt describes the rise and decline of the six-hour day at Kellogg’s in Battle Creek, Michigan. What were the rules of the six-hour day? How did the six-hour day benefit management? How did it benefit workers? What were the factors that caused the decline of the six-hour day?
Karl Marx argues that you, as a wage earner, are paid what you are worth when you agree to sell your labor power, but you are not paid what you are worth when the employer consumes your labor power. Explain this argument.
What, according to Raworth, are the seven ways to think like a 21st economist. Name and explain 3 things that are wrong with our 20th c. thinking?
Arlie Hochshchild argues that companies are, with the rise of the service sector, commercializing feelings. This, she argues, comes at a price. How did the airline industry commercialize the feelings of flight attendants? What happened to the flight attendants? To the customers? To our culture?
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Final Paper
Question 2: Karl Marx
According to Karl Marx, the struggle between the employee and employer determines wages. In most cases, the capitalist or the employer attains victory on the matter. Based on his argument, the employer can survive or live longer without the worker. On the other hand, the worker cannot live longer without the employer due to failure to live without basic needs. Additionally, an increase in intensity among workers in a target market affects the rate of payments received (Parkin 162). Thus, the availability of laborers decreases the wages while the unavailability of workers increases the payment. Besides, the resources available to the employer can be used to augment revenue, while the employee does not have the capital to supplement industrial income. Based on Marx, the only aspect that is used to calculate the rate of wages among workers is to calculate the duration of work and the expenses incurred so that the worker does not die.
In the same case where the supply of employees exceeds the demand, a group of staff is likely to be unemployed. Therefore, Karl Marx states that the existence of the employees is equated to the existence of items on sale. This implies that if the worker is lucky enough to find a buyer for the products and services provided by the employer, then their existence in the company or industry is worthwhile (Parkin 163). Moreover, the life of the worker becomes highly dependent on the rich (buyers) and the employer. In a case where the supply of products or workers exceeds the demand, then the price, wages, or profit is paid below the intended rate. The worker tends to suffer in most scenarios, as compared to the employer.
Similarly, the gravitation of market price to a different price leads the worker to face greater loss. The capitalist of the employers decides when and where his or her capital can be directed to a different channel. Therefore, he or she can also decide the type of workers required to carry out the assignment and if they are restricted to a specific branch of labor or forced to submit to every demand of the employer. In addition, price fluctuations in the market affect the profit or revenue of the company (Parkin 165). However, the wages of employees are highly affected compared to the profits. In a different situation where the profit or revenue of the company increases, the employer gains. But this does not necessarily mean the employee will gain as well. This is by virtue of trading secrets or virtue of monopoly based on the arguments of Karl Marx.
From the perspective of the economy, the prices of provisions are not expected to be as constant as the prices of labor. The decrease in demand can cause a fall in wages, whereas an increase in the provision's prices can increase wages. Similarly, the fall in provision prices can decrease wages while it may increase on account of an increase in demand (Parkin 162). Marx further argues that even in the most favorable condition for the workers, the result is likely to be negative. Most employees become servants to wages and capital and overwork, making it dangerous for them. Those who are unemployed or earn low wages starve and beg for help from other members of society.
Importantly, rising wages can excite the worker but it may not have a positive impact on the employer. Nevertheless, if the capitalist can control or sacrifice his or her mind and body from the urge to continuously get rich, it is possible to meet the needs and satisfaction of the employees (Parkin 163). When an employer increases wages, he or she is likely to get compensated by the employees. Increased satisfaction as a result of increased wages enhances productivity and revenue for the employer.
Question 3: 21st Century Economist
Every institution that desires to grow economically must understand the principles and theories of the economy. Nevertheless, it is imperative to understand the current ...