Wage labor

Wage labour (also wage labor in American English) is the socioeconomic relationship between a worker and an employer, where the worker sells his labour power under a formal or informal employment contract. These transactions usually occur in a labour market where wages are market determined. In exchange for the wages paid, the work product generally becomes the undifferentiated property of the employer, except for special cases such as the vesting of intellectual property patents in the United States where patent rights are usually vested in the employee personally responsible for the invention. A wage labourer is a person whose primary means of income is from the selling of his or her labour power in this way.

In modern mixed economies such as those of the OECD countries, it is currently the most common form of work arrangement. Although most labour is organised as per this structure, the wage work arrangements of CEOs, professional employees, and professional contract workers are sometimes conflated with class assignments, so that "wage labour" is considered to apply only to unskilled, semi-skilled or manual labour.

The most common form of wage labour currently is ordinary direct, or "full-time". This is employment in which a free worker sells his or her labour for an indeterminate time (from a few years to the entire career of the worker), in return for a money-wage or salary and a continuing relationship with the employer which it does not in general offer contractors or other irregular staff. However, wage labour takes many other forms, and explicit as opposed to implicit (i.e. conditioned by local labour and tax law) contracts are not uncommon. Economic history shows a great variety of ways, in which labour is traded and exchanged. The differences show up in the form of:

Many Socialists see wage labour as a major, if not defining, aspect of hierarchical industrial systems. Most opponents of the institution support worker self-management and economic democracy as alternatives to both wage labour and to capitalism. While most opponents of wage labour blame the capitalist owners of the means of production for its existence, most anarchists and other libertarian socialists also hold the state as equally responsible as it exists as a tool utilised by capitalists to subsidise themselves and protect the institution of private ownership of the means of production—which guarantees the concentration of capital among a wealthy elite leaving the majority of the population without access. As some opponents of wage labour take influence from Marxist propositions, many are opposed to private property, but maintain respect for personal property.

...
Wikipedia