Reserve army of labour
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Reserve army of labour is a concept in Karl Marx's critique of political economy. It refers to the unemployed and underemployed in capitalist society. It is synonymous with "industrial reserve army" or "relative surplus population", except that the unemployed can be defined as those actually looking for work and that the relative surplus population also includes people unable to work. The use of the word "army" refers to the workers being conscripted and regimented in the workplace in a hierarchy under the command or authority of the owners of capital.
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See also
- Full employment
- Guaranteed minimum income
- Involuntary unemployment
- Iron law of wages
- Job guarantee and associated concept of "buffer stock" (NAIBER)
- Labour supply
- Labour power
- Overproduction
- Unemployment
- Wage slavery
- Working class
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