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Marxist Labour Value

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Labour itself is value. Labour power, which can be defined as all the energy a worker uses is a commodity and like other commodities the cost is determined by the labour that was necessary to produce it. Marx’s value is not defined in its true textual sense, value for Marx is defined as social necessary labour time. The value of the commodity depends on the quantity of the labour socially necessary for its production thus labour is contained in value. Therefore the exchange value of a commodity varies with in line with the quantity of labour required to produce it. The labour theory is not based on analysis of exchange transactions but on the analysis of the social production relations within those transactions.
The weight of an object can only be understood when compared to another. So the exchange value of a commodity can only be understood when it is exchanged with another. What commodities all have in common is that they are products of human labour. A commodity can be regarded as condensed labour time. Profit or surplus value is simply the unpaid labour of the labourer.
The labour theory of value is where the value of a produced object is determined by the amount of labour required to produce it. Under capitalism labour power is like a …show more content…

Exploitation is an injustice in the capitalist regime. More specifically, it destroys human potential and the destroying is done by other people. The labour theory is very straightforward as it presumes that one can only live and satisfy basic needs through labour and this could take the form of an exploitative class living off the labour of others. As straightforward as it is it cannot be truly convincing when Marx wants to save people from exploitation but ends up targeting non-exploitative practices and people and condoning other forms of injustice. Thus another definition of exploitation might be

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