The objective of this article is to show that Itoh's identification of market value with the individual value of the dominant methods of production obscures the fact that dominant capitals producing below market value realize extra surplus value and thus obtain higher profit rates than average....

This paper argues that bonus wages, understood as lump sum payments contingent upon the achievement of a firm’s production goals, are superior to piece wages from the point of view of capital. While bonus wages reproduce the main traits of piece wages they also generate a higher degree of...