reserve army of labour

unemployed workers, their number continuously renewed within capitalism, who by competing for jobs help to depress wages. In Marxism, the existence of this group is held to tend to force wages down to subsistence levels. Marxists, however, acknowledge that, in practice, a tendency to immiseration from this source is offset by a number of counteracting tendencies, including trade union action, which have increased the ‘historical and moral’ element in the value of labour power. Nevertheless, that unemployment remains a factor in the bargaining power possessed by labour, is seen in the correlation that exists between periods of full employment and wage increases and wage inflation.

单词	reserve army of labour
释义	reserve army of labour reserve army of labour unemployed workers, their number continuously renewed within capitalism, who by competing for jobs help to depress wages. In Marxism, the existence of this group is held to tend to force wages down to subsistence levels. Marxists, however, acknowledge that, in practice, a tendency to immiseration from this source is offset by a number of counteracting tendencies, including trade union action, which have increased the ‘historical and moral’ element in the value of labour power. Nevertheless, that unemployment remains a factor in the bargaining power possessed by labour, is seen in the correlation that exists between periods of full employment and wage increases and wage inflation.
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