Wage slaveryIn the capitalist mode of production, wage slavery (or starvation wages) refers to the exploitation of labor by keeping wages low or stagnant in order for a business to maximize its surplus value. Wage slavery can be loosely defined as a person's dependence on wages (or a salary) for their livelihood, especially when wages are low, treatment and conditions are poor, and there are few chances of upward mobility.
Universal basic incomeUniversal basic income (UBI) is a social welfare proposal in which all citizens of a given population regularly receive a guaranteed income in the form of an unconditional transfer payment (i.e., without a means test or need to work). It would be received independently of any other income. If the level is sufficient to meet a person's basic needs (i.e., at or above the poverty line), it is sometimes called a full basic income; if it is less than that amount, it may be called a partial basic income.
WageA wage is payment made by an employer to an employee for work done in a specific period of time. Some examples of wage payments include compensatory payments such as minimum wage, prevailing wage, and yearly bonuses, and remunerative payments such as prizes and tip payouts. Wages are part of the expenses that are involved in running a business. It is an obligation to the employee regardless of the profitability of the company.
AutomationAutomation describes a wide range of technologies that reduce human intervention in processes, namely by predetermining decision criteria, subprocess relationships, and related actions, as well as embodying those predeterminations in machines. Automation has been achieved by various means including mechanical, hydraulic, pneumatic, electrical, electronic devices, and computers, usually in combination. Complicated systems, such as modern factories, airplanes, and ships typically use combinations of all of these techniques.
Working classThe working class, sometimes incorrectly referred to as the middle class, includes all employees who are compensated with wage or salary-based contracts. Working-class occupations (see also "Designation of workers by collar colour") include blue-collar jobs, and most pink-collar jobs. Members of the working class rely exclusively upon earnings from wage labour; thus, according to more inclusive definitions, the category can include almost all of the working population of industrialized economies, as well as those employed in the urban areas (cities, towns, villages) of non-industrialized economies or in the rural workforce.
UnemploymentUnemployment, according to the OECD (Organisation for Economic Co-operation and Development), is people above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the reference period. Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force (the total number of people employed added to those unemployed).
