Asked by Sarenthia Davis on Apr 27, 2024
Verified
Which economist believes all profits are derived from the exploitation of workers?
A) Frank Knight
B) Joseph Schumpeter
C) Karl Marx
D) John Maynard Keynes
Exploitation
The act of treating someone unfairly in order to benefit from their work or the use of resources without just compensation.
Karl Marx
A 19th-century philosopher, economist, and sociologist best known for his critique of capitalism and the development of Marxist theory.
- Comprehend specific economists' views on profits and economic exploitation.
Verified Answer
ZK
Zybrea KnightMay 04, 2024
Final Answer :
C
Explanation :
Karl Marx believed in the labor theory of value, which posits that the value of a product is determined by the amount of labor put into producing it. Marx believed that capitalists exploit workers by paying them less than the value of their labor, thereby generating profits for themselves. Therefore, according to Marx, all profits are derived from the exploitation of workers.
Learning Objectives
- Comprehend specific economists' views on profits and economic exploitation.