Unlimited exploitation of cheap labour power is the sole foundation of their power to compete

Unlimited exploitation of cheap labour power is the sole foundation of their power to compete

Karl Marx, a renowned philosopher, economist, and revolutionary socialist, believed that the unlimited exploitation of cheap labor power is the sole foundation of the power to compete in capitalist societies. Marx's theory of labor exploitation is central to his critique of capitalism and its inherent contradictions. According to Marx, the capitalist mode of production is based on the exploitation of the working class, who are forced to sell their labor power to capitalists in exchange for a wage.