Marxian Unemployment

Marxian Unemployment

Unemployment due to the nature of the capitalist system. Karl Marx argued that the capitalist class has an incentive to keep some workers unemployed because doing so keeps wages low. For example, if there are two workers for every available job, the employed workers are not in a position to demand a wage increase because the employers can simply hire the other workers. Marxism therefore views unemployment as an example of the failure of capitalism.
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