Unmasking Exploitation with the Monetary Equivalent of Labour Time

If your boss makes a dollar, you make a dime. That’s why you analyze the links between social class and exploitation on company time. Rather than treating objective social class as some function of income, education, and occupation, we’re going to begin with capitalist exploitation in the workplace, then build out from there. Drawing on the labor theory of value, we’ll establish how much value each hour of labour adds to the overall production — the Monetary Equivalent of Labour Time — and use that as a basis for measuring exploitation. Using data on employment from the Labour Force Survey, we can compare the average wage to the value of labor time to assess the degree of exploitation experienced by workers. In short, for every dollar in value added to the net product by an hour of labour, the average worker in Canada receives only a fraction of value back, about 45 cents in wages. <a href="https://ds4cs.medium.com/unmasking-exploitation-with-the-monetary-equivalent-of-labour-time-66ef1138d152">Click Here</a>