Karl Marx's Theory Of Surplus Value

Karl Marx Theory of Surplus Value

Introduction

Karl Marx was born on 5 May 1818 was a philosopher, economist, sociologist, journalist and revolutionary socialist. He Born in Prussia. He became stateless and spent much of his time in London. Karl Marx 's work in economics laid the basis for much of the current understanding of labor and its relation to capital, and subsequent economic thought. He published various books during his lifetime, the most famous was The Communist Manifesto (1848) and Das Kapital (1867–1894). Karl Heinrich Marx was born into a middle-class home in Trier on the river Moselle in Germany on May 5, 1818. Karl Marx died because of pleurisy in London on March 14, 1883.

Problem statement

Karl Marx

What did Karl Marx explain in this theory?

Research Methodology

I have used Qualitative method of research. In this research I have tried to broaden my concept and ideas about Karl Marx and his role in surplus value. MARX wanted a communist state where equal distribution of all resources .why always lower class is suffers in this society. Why Capitalist are not given Labor wage according to their profit and gain all profit? In this theory Marx wanted to give Labor right of wage.

Discussion

Theory of Surplus-Value

Karl Marx belongs to a poor family and he knows the pain of poverty so he started work for the Labor right. He wanted a notion where equal distribution of all resources. Capitalist gain all profit and violate the Labor

Surplus Value is a distinction between a worker’s wage and the price of a good or service produced by that worker. This theory is stand on the detail that workers provide value through the labor used to produce goods and services. Karl Marx also believed that other economic concepts such as imperialism or capitalism, did not properly value the workers to produce goods or the surplus value created by their labor. This kind of value does not express the actual value of a physical economic resource or good. This added value is understood through the labor needed to produce the resource or good, which increases the value of the item above its original cost. Karl Marx also believed that individual workers and their productivity is what really determined the value of consumer goods or services. The amount of labor used to produce a good or service. Marx believed that profit could be accumulated in the economy. The concept of surplus value used by Karl Marx declared that workers not only create economic value through the wages paid to them but also through the more value of transforming economic resources into valuable products. This allowed economies to experience more profit through producing goods, rather than simply earning income from the sale of property. Marx believed that this additional income could be