- The way i understand the means of production and labour is that labor makes the productions and gives it its value. The time it takes to build an iphone including the materials that are used to make it, under normal circumstances gives the phone its expensive value. Production is nothing without labour. If you don’t put time into making something your not producing any products therefore there is no value being put into anything that your doing.
2. What makes something valuable is the time it takes to make it.
3. Labor and value are related because of the labor theory of value. The amount of labour used to make a product makes its value. The connection between the two is that they go hand in hand. The more labor it takes to make the product the more its value increases. The less time it takes to make it, the lesser its value.
4. Labor is what increases the value of what you have. Labor power is when you get paid less then what your labour is actually worth.
5. Surplus value is when you make profit off of a product that is privately owned and made by laborers and the company keeps the profit. The surplus value goes to the company not the workers. I think this is important to know about in the study of social classes because it will show how different social classes go through different experiences when it comes to labor and values. One can argue that different social classes can have different ranges of labor power and also products being made in un normal circumstances due to social class. An example would be products that are made in china. A lot of our products are made in china in factories and many different companies profit off of them that we don’t even know about and its only what we see we can interpret. How can we be so sure that the labor being put in to make all these products are actually being paid fairly amongst the workers?