Exam 19: Inequality, Exploitation, and Economic Institutions

Discuss what constitutes exploitation and how exploitation occurs in various economic systems over time, including in contemporary capitalism. -Why does exploitation necessarily occur in a capitalist economy? What happens to the employer if there is no surplus labor? To the employee?

Discuss what constitutes exploitation and how exploitation occurs in various economic systems over time, including in contemporary capitalism. -Does exploitation depend on the absolute value of your wage or salary? Why or why not?

Define and use measures of exploitation. -If you were an employer, would you want a high or low rate of exploitation? Explain.

According to the text, there are about 3 hours of surplus labor a day and 5 hours of necessary labor. What is the rate of exploitation according to this data?

List and discuss the sources of conflict between employers and employees and the rate of exploitation. -If an employee's compensation rises, what happens to necessary labor? Profits for the employer?

Define and describe surplus labor. -Explain how surplus labor relates to profits for the employer.

Define and describe surplus labor. -What is surplus labor? Give an example.

Progressive economists define the rate of exploitation as

Discuss what constitutes exploitation and how exploitation occurs in various economic systems over time, including in contemporary capitalism. -What put a limit on the rate of exploitation in a slave economy?

Whats defention of terms: -exploitation

Whats defention of terms: -necessary labor

Give a brief overview of the history of labor conflicts. -What factors would give employees power as they bargain with employers over compensation, hours, and effort? Explain.

Suppose Paul works as a programmer at a salary of $300 per day. During that time he produces programs that are sold for $600.

Define and use measures of exploitation. -What does a rate of exploitation mean?

Alfred earns $6 per hour and works an 8 hour day. He produces a product during that time that sells for $96. What is the rate of exploitation?

Define and use measures of exploitation. -Assume an employee works five hours producing an amount of product equal in value to her wage and then spends another three hours producing an amount of product over and above the value of her salary. What is the number of hours of necessary labor? Surplus labor? What is the rate of exploitation? Explain in words what the numbers mean.

List and discuss the sources of conflict between employers and employees and the rate of exploitation. -Even if employee compensation rises and the number of hours of work remains unchanged, why might an employer still make the same amount of profit or even increase profits?

Whats defention of terms: -intensity of labor