Theory of Ownership of Labour Power
Theory of Ownership of Labour Power

Summary/Abstract: Although the use of the term “labour power” is widespread, especially in Marxian and Marxist writings, the fact of the matter is that the question of its ownership remains undertheorized. The present paper aims to fill in this gap. For it expounds what can be termed a full-fledged theory of economic ownership of labour power. The theory consists of more than ten propositions which refer to various dimensions of working conditions and industrial relations. It describes the relations concerned in a novel theoretical language that draws on Marx, Parsons, Durkheim and Simmel. The theory entails some modifications of Marx’s position and reveals a number of links between economic phenomena which have been so far considered separately.

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