Unformatted text preview: profit rather than collective need--explains the persistence of poverty. Employers are constrained to pay their workers in the least possible in wages and benefits. Only a portion of the wealth created by labor is returned to it; the rest, referred to as surplus value, goes to the owners for investment and profit. An abundance of laborers helps to depress wages. If costs can be reduced, technologies are introduced to replace workers....
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- Fall '10
- Poverty, Capital accumulation, Institutionalized discrimination