Sorry for the newby question, started reading Keynes general theory (1936) and am confused by this paragraph in Chapter 2:
The traditional theory maintains, in short, that the wage bargains between the entrepreneurs and the workers determine the real wage; so that, assuming free competition amongst workers, the latter can, if they wish, bring their real wages into conformity with the marginal disutility of the amount of employment offered by the employers at that wage. If this is not true, then there is no longer any reason to expect a tendency toward equality between the real wage and the marginal disutility of labor.
My understanding is that "marginal disutility of labor" refers to (mental or physical) adverse effects of each additional time-unit of labor expended. Is this correct? What would it mean then to say marginal disutility of labor is equal to the real wage?