Re: [OPE-L] 'advancing' money

From: Jerry Levy (Gerald_A_Levy@MSN.COM)
Date: Fri May 19 2006 - 09:34:09 EDT

> When a capitalist makes an employment contracts with the workers,
> he/she advances a variable capital with the obligation to pay a month
> later (with  free interest). His/her obligation itself is a part of the
> advanced capital.


Is a month the standard in S. Korea for the interval between the onset of
work and the receipt of wages by workers?

I'd be interested in hearing from others on the list what the typical time
period for the deferral of wage payments is in their countries.  In the
US, most workers (who are working 'on the books' -- this is an important
qualification) receive wages either every week or every other week.

It is often claimed by progressives, especially housing activists, in the
US that most people are "one paycheck away from being homeless".
This, I believe, is misleading since it does not take into account the
ability of wage-workers to borrow (especially with credit cards) the
amount required to meet a month's rent or mortgage payment and
thereby forestall eviction.

In solidarity, Jerry

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