5. Another way to think of the immiseration thesis and the points above is inthe tendency of capitalists to 'externalize' costs. Costs can be lowered by having thestate pay for the education of workers; having the state or women take care of theinjured/crippled workers; having the state pay for infra-structure [roads, sewers,bridges, docks, etc]. Costs can be externalized to the future by deficit spending or byenvironmental pollution. If you or I were capitalists, we would do the same thing...Iwould anyway.
The immiseration thesis was equally questioned by later theorists, notably by early members of the . For and , in the economy had effectively abolished the tension in capitalism between the "" and "material of society"—a tension which, according to traditional Marxist theory, constituted the primary contradiction within capitalism. The previously "free" market (as an "unconscious" mechanism for the distribution of goods) and "irrevocable" of Marx's epoch have gradually been replaced by the and socialized ownership of the in contemporary Western societies. The dialectic through which Marx predicted the emancipation of modern society is thus suppressed, effectively being subjugated to a positivist rationality of domination:
immiseration thesis | Lumpenproletariat
In and , the immiseration thesis (also referred to as emiseration thesis) is derived from Karl Marx's analysis of economic development in , implying that the nature of capitalist production stabilizes , reducing wage growth relative to total value creation in the economy, leading to worsening in the workplace.