Abstract

It will be argued that, by reading Marx’s theory of value not as an explanation of capitalist development but as anthropology of capitalism’s moral implications, certain ethical contradictions of HRM can be identified. The main areas of conflict are seen in HRM’s pretence to equitable exchange relations in the workplace, its propensity to replace material with symbolical recognition through corporate culture and ideology, and in its tendency to lay claim not only on the employee’s labour power but on his or her whole personality.