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South Korean companies are offering workers $75,000 to have babies amid the country's desperate bid for more children (www.businessinsider.com)

submitted 8 months ago by throws_lemy@lemmy.nz to c/world@lemmy.world

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[–] mathemachristian@lemm.ee 15 points 8 months ago* (last edited 8 months ago) (1 children)

In this case that the cost of replacement of labor power factors in to the wage a company has to pay in order to maintain production.

The manufacturer who calculates his cost of production and, in accordance with it, the price of the product, takes into account the wear and tear of the instruments of labour. If a machine costs him, for example, 1,000 shillings, and this machine is used up in 10 years, he adds 100 shillings annually to the price of the commodities, in order to be able after 10 years to replace the worn-out machine with a new one. In the same manner, the cost of production of simple labour-power must include the cost of propagation, by means of which the race of workers is enabled to multiply itself, and to replace worn-out workers with new ones. The wear and tear of the worker, therefore, is calculated in the same manner as the wear and tear of the machine.

https://en.prolewiki.org/wiki/Library:Wage_labour_and_capital

edit: replaced quote with an imo more fitting quote from the same book.

[–] PrinceWith999Enemies@lemmy.world 6 points 8 months ago

One of the most frustrating things about academic Marxism is that it hypothesizes that “capitalists” (whom they bung together with remarkable aplomb) do things like figure in the reproduction cost of labor. They don’t. They’re focused on the next quarter and maybe the next year. Maybe even the next five years. But no one ranging from Elon Musk to (not sure who his opposite would be so I’m kinda taking a stab here) Warren Buffett is thinking in terms of generational replacement. First, they’re not going to live that long. Neither are their shareholders. Plus capital is mobile - it’ll just go someplace else.

This is a headline precisely because it’s a man bites dog story. If your company gives you paid parental leave it’s either because it’s legally required or for retention. It’s not in the hope that the little toy will become a software engineer at the company in 25 years.