This is like the size of one Chapter One of Vol. 1, Das Kapital… it still kicks ass and gets to the point on wages!
tl;dr on main point: Chapter 2
Chapter 2 talks mainly on this issue… Marx replies that when wages increase, at worst, prices in mostly non-essential sectors may increase, but prices for necessities like groceries stay, because as much as the capitalists in that sector may want to raise prices, there’s a lot more new money to be used and spent on necessities, by the wage laborers
Thus, the non-essential sectors won’t gain that much profit and inevitably would have to level out with the capitalist’s prices of necessities in that sector to a more reasonable price…
This is like the size of one Chapter One of Vol. 1, Das Kapital… it still kicks ass and gets to the point on wages!
tl;dr on main point: Chapter 2
Chapter 2 talks mainly on this issue… Marx replies that when wages increase, at worst, prices in mostly non-essential sectors may increase, but prices for necessities like groceries stay, because as much as the capitalists in that sector may want to raise prices, there’s a lot more new money to be used and spent on necessities, by the wage laborers
Thus, the non-essential sectors won’t gain that much profit and inevitably would have to level out with the capitalist’s prices of necessities in that sector to a more reasonable price…