Neoclassical wage theory asserts labor is paid exactly its marginal worth

Evidence

In his academic lectures, Pantaleoni asked students: “what wage can the entrepreneur give to the worker?” He answered: “as much as he is worth. He certainly cannot pay him more than what he is worth, and by competition, he will not be able to pay him less … the rule that labour is paid how much it is worth [tanto quanto vale], nothing more nothing less, holds” (Pantaleoni 1910, 204). — Clara E. Mattei, The Capital Order, 1255

Categorization

• QUESTION: Worth tracing how this ‘tanto quanto vale’ marginal-productivity rule was deployed to justify Fascist wage suppression.
• XREF: connects to: The marginal-productivity theory of wages is itself a discursive claim-making tool.; The wage only imperfectly reflects the exchange value of labour power — Yanis Varoufakis, Technofeudalism: What Killed Capitalism, 790

Broader Connections

• The wage only imperfectly reflects the exchange value of labour power #contradicts (0.85) — Yanis Varoufakis, Technofeudalism, 790