Immiseration thesis
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In Marxist theory and Marxian economics, the immiseration thesis (also referred to as emiseration thesis) is derived from Karl Marx's analysis of economic development in capitalism, implying that the nature of capitalist production stabilizes real wages, reducing wage growth relative to total value creation in the economy, leading to worsening alienation in the workplace.
The immiseration thesis is related to Marx's analysis of the rising organic composition of capital and reduced demand for labor relative to capital equipment as technology develops.
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See also
- Capitalist mode of production
- Crisis theory
- Technological unemployment
- Misery
- Unfree labour
- Wage labour
- Wage slavery
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