[Home]History of Labor theory of value/Talk

HomePage | Recent Changes | Preferences

Revision 5 . . December 15, 2001 7:31 am by Ed Poor [surplus value relevant to labor theory of value]
Revision 4 . . December 15, 2001 7:21 am by Lee Daniel Crocker
Revision 3 . . December 15, 2001 7:06 am by Ed Poor
Revision 2 . . March 29, 2001 4:47 am by Jimbo Wales [A response]
  

Difference (from prior major revision) (no other diffs)

Added: 20a21,24

:That's okay, we often don't understand each other :-) so here's a quote:


Marx begins by examining the exchange value and the use value of products. He is dissatisfied with the supply and demand curve, as it does not show the power relationships involved. Marx sees that labor is not being paid according to the use value, but according to the commodity price, or the exchange value. Labor has now become a commodity, because the capitalist has paid him according to the exchange value in order to gain a profit, the purpose of capitalism. The difference between what the capitalist pays the worker and the value of what the worker produces is called the surplus value, value that the worker never sees and the capitalist receives because he put up the capital in the first place. Capitalists achieve this surplus value through division of labor, which not only deskills the laborer, but also demoralizes him after he works day after day producing more than he ever did before the advent of capitalism, yet for equal or even less money.

HomePage | Recent Changes | Preferences
Search: