Immiseration thesis | Wikipedia audio article
Channel: wikipedia tts
Date: 2018-11-28

This is an audio version of the Wikipedia Article:
Immiseration thesis

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SUMMARY
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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.