Marx's Legacy Revisited
Chapter 7: Labor Productivity and the Law of Decreasing Labor Content
Heterodox, and more specifically Marxist, economists have long held the belief that the inherent functioning of the capitalist system—and in particular the forces driving technical change, including class struggle—leads to a tendential decrease in the amount of labor necessary to produce (or, indeed, embodied in) commodities. One of the clearest and most rigorous formulations of this intuition is due to Farjoun and Machover (1983), who derived the celebrated law of decreasing labor content (henceforth, LDLC).
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