THE CASPIAN REGION:Politics, Economics, Culture

Scientific journal

Hired labor: value, price, surplus value

2016. 4, pp. 72-84

Racoti V.D. - D.Sc. (Economics), Professor, Chief Researcher, Research Institute of Labour and Social Insurance, 34 Zemlyanoy val Str., Moscow, 105064, Russia,

The problems of equitable remuneration are relevant to any society under any political system. Hired labor policy and its evaluation are always the prerogative of the state. In our society in the minds of ordinary citizens and many politicians formed a stable installation that the definition of “wages”, “compensation”, “remuneration”, “income” is synonymous. This raises many conflicts, including in the legal and political legislative initiative. To clarify the peculiarities of modern interpretation from the perspective of the scientific validity of these definitions the focus of this article.

Key words: , , , , , , hired labor, labor cost, government policy in the field of payment for labour, price of labour, income, added value