Capitalists Quote by Anonymous
““There is another possible demand along this line that directly undercut the economic power of the capitalists: reducing hours of labor. Hours of labor reduction strikes at the economic power of capital by directly reducing their profits, forcing real wages to rise and by reducing competition within the working class over jobs. It thus accomplishes in a single measure everything that can be won by a higher minimum wage, basic income and a job guarantee.””
About This Quote
Reducing work hours weakens capitalist profit by lowering output, raising wages, and limiting job competition, achieving goals of minimum wage, basic income, and job guarantees.
In simple terms: Shorter work hours lower profits and raise wages.
Key Takeaway
Consider shorter workweeks.
Themes
economics
labor
capitalism
inequality
policy
Mood
analytical
critical
Type
policy
economic
When to use this quote
- policy debate
- union negotiations
- government legislation
Key Concepts
profit reduction
wage dynamics
employment competition
social safety nets
Questions to Reflect On
- How would shorter weeks affect productivity?
- What safeguards are needed for workers?
A Different Perspective
May reduce overall productivity or face employer resistance.
