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Originally Posted by G.K Zhukov
It's quite simple: as long as wages are kept low (due to the influx of immigrant workers who keep the market oversupplied), there will be no incentive for the employer to rationalize, invest in new equipment (constant capital) and so on. Thereby the productivity per hour will remain low.
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I don't buy it. The employer would surely rationalise and invest in new equipment to increase profit margins, regardless of how much they pay their workers.