Abstract
The importance of making economical use of society's material resources will grow with the scale of production, not only because of the absolute increase in the mass of raw materials, supplies, fuel, and fixed capital involved in the production process, but also because the growth of the social productivity of labor will mean a relative increase in the share of embodied labor and a reduction in the share of live labor per unit of output. Despite the systematic rise in the wage level, between 1932 and 1975 the share of wages in costs per unit of industrial output was reduced by more than half, whereas the share of raw materials, fuel, supplies, and power increased from 52.2 to 74.4%. Therefore the further lowering of production costs will depend more and more on the saving of embodied labor.
Published Version
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