Why are higher labor costs bad for business

Assignment Help History

Reference no: EM133791530

Assignment:

We are watching "Masters of Money: Karl Marx" (58 minutes in length). It can found here:

1) What was Marx's "key insight?"

2) In what manner is economics, according to Marx, at "the heart of absolutely everything?"

3) Why does it mean to say the capital "makes a world out of its own image?"

4) Why are higher labor costs bad for business? Why are low wages paid to workers also bad for business, in the long run?

5) What social and political changes have contributed to earnings at the top expanding along with general stagnation of wages and salaries for the average worker?

6) Did low wages contribute to the 2008 financial crisis? Outline the argument behind this assertion.

7) What did Marx have to say in terms of what should replace capitalism?

Reference no: EM133791530

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