SOCIOL 101 Lecture 7: s-7
Document Summary
More and more of capital concentration in hands of one capitalist and disappears out of more capitalists. Growing share of capital is going to fewer people. Consequence of improvement of means of production. Productivity of labor goes up capitalists don"t need as much labor. Segment of working class that is rendered unnecessary. Capitalists have a control over available supply of labor they need. Can respond to shortage of labor by investing more in technology. As capital accumulates more and more, less of it is used in labor power. Surplus population is result of capital accumulation but also aids the process of accumulation. Reserve army of disposable labor that capitalists can call up when needed . Capitalists don"t need to raise wages because laborers are desperate for work. Allows capitalists to expand because they can easily get labor. Existence of surplus population holds down wages.
