- The means of production is the resources that are used to make something out of it. For example in a movie production, the production would be the cameras, lights, and microphones. Labor is the actual process of someone putting effort into making something so in this example it would be the actors acting and directors etc making the movie to be possible, also connecting to what the video mentioned about Marx stating “labor is the only thing that can increase the value of what you have”.
- Value is something that can be put a lot into. Time and effort is what “value” gives to value. The effort and time someone puts into making something is what makes it more valuable
- Labor and value are connected because if there’s no labor it wouldn’t have much value to it. A machine could easily make something fast and it wouldn’t be as valuable as to what an actual person can make with how much time and energy they put imho what they’re making
- Based on the video, labor is the actual action of someone working and labor power is a persons capability of being able to work
- Surplus is the value on top of the value it took you to get there. It goes unpaid for the worker while the owner is benefiting from it. It’s important because it can give us an understanding of how laws can be made in terms of labor
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