The Capital-Labor Relation: From Industrial to Post-Industrial Economy

Abstract:     
Industrial revolution with its total machinery production led to formation of the working class and then to the transformations in economics and social spheres. In the 20th century increased labor movement caused redistribution of Gross Domestic Product from bourgeoisie to workers and it was a key factor on the way to decreasing poverty in developed countries. But in post-industrial economy rapidly growing human needs provided with growing level of wages faced stable level of labor productivity which. This main contradiction caused labor crisis in the beginning of the 21th century. The main purpose of the given article is to investigate the nature of capital-labor contradiction in post-industrial economy, and to propose its possible influence on economic growth in developed and developing countries.

Number of Pages in PDF File: 5

Keywords: Capital-labour relation, labour productivity, wages. poverty

JEL Classification: J38

working papers series