Posted on by Brandon Christian

Discussion Board 5.1

1. The video was very informative about Karl Marx theory of capitalism. Capitalism can be broken down into two important parts: labor and the means of production. Labor is when a person trades their time and labor power for money to an employer or capitalist. Such as when a worker goes to work for Ford Motor Company and works on the assembly line. That person is working for a define pay and hopefully benefits as they work to build a car that will be sold for a profit. Capitalism also requires the means of production. That is the owner or capitalist who is paying the workers to work, to make a product or conduct a service that will make a profit for the owner. The means of production is the factory that is owned by Ford Motor Company. In this example the owners are the shareholders but in a private business the owner is/ are individuals or a group of people.

2. The video also describes what Marx understood as value. Value is how long it takes to make something under normal conditions. An example would be that an employee is expected to put a bumper on a car in 1 hour. Or that it will take an electrician 3 hours to wire a room for 2 electrical sockets. In both examples the employees have been hired to by an owner or capitalist to give value to a product, which will be sold for a profit. But the profit is not how Marx defines the value of the labor, rather the labor is valued by how long it takes to conduct the work. This view to me put more emphasis on the labor without needing the validation of money.

3. The connection between labor and value is found in the need for labor to create value. Yes, it takes the electrician x hours to wire a one-bedroom apartment but how much is that worth? And who gets to decide the value added. In capitalist nations the market or the owner does. The labor theory of value says that a product is worth the amount of labor it takes to make it. This is a abnormal way of thinking about value in America because we are so profit driven. However, this view gives a tremendous amount of value to the laborer and his labor. In this theory of labor who can see why the emphasis may be on wants and needs of the laborer.

4. Labor is the time it takes to create something or complete a service. The worker in the Ford Motor Company or the Electrician. They labor in their given field to create something which adds value to the product. Labor power is the ability to work which is the laborer’s ability to work on the assembly line at Ford or electrician’s ability to wire the apartment. They in their labor are adding value or improving on what is already there. Therefore, without the ability of the electrician the wire and sockets and other materials are of no true value. When the electrician has connected and fastened the material to conduct electricity safely, they have improved to a greater value. The labor power is the ability to improve upon or add value by ones labor. A final example is that labor power is such that the laborer has the power to withdraw it by striking, which is to not labor for the owner.

5. Surplus value is profit. It is the value that is given to the finished product that has been created with the labor of the assembly line worker or the electrician. The electrician is paid and has benefits which cost a defined amount or has a range amount, but his services are sold to a customer at a profit. This is important to the very system of capitalism. The right to own property and the laws that ensure an owner can be confident that their property will not be taken is important in capitalism. However, the reward of a profit is an incentive for the capitalist to invest in the means of production which employs others and creates products and services. the surplus value is the end goal of the capitalist and gives them more value or in this case profit than the laborer.

Posted on by Anchelina Carranza

Discussion Board 5.1

  1. 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”.
  2. 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
  3. 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
  4. Based on the video, labor is the actual action of someone working and labor power is a persons capability of being able to work
  5. 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
Posted on by Dante Frazier

Discussion 5.1

The means of production are the things used to make a product, like machines, tools, and buildings. Labor is the actual work people do. For example, a restaurant’s kitchen equipment is the means of production, while cooking the food is labor. Value is how much something is worth. The labor and time put into making something help give it value. Labor and value are connected because workers create value through their work. The amount of labor needed to make something can affect its value.

4. Labor is the actual work a person does, while labor power is their ability to do that work. For example, being able to work as a cook is labor power, while actually cooking is labor.

5. Surplus value is the extra value created by workers that they don’t receive as wages. For example, a worker may help a business make $800 in sales but only receive $150 in wages.

Posted on by Francis Cosgriff

Frank Cosgriff – 5.1

  1. The creation of any product requires two things: labor and the means of production. Labor is the act of production; the physical and mental work of turning one thing (or things) into another. A baker’s labor is the act of transforming flour and water into bread. The means of production are the resources and tools needed to engage in that labor. For the baker, the means of production include the flour and water, as well as the kitchen, tools, and oven used in the process of baking bread.
  2. Value, as defined by Marx and presented by Abigail Thorn of Philosophy Tube, is the amount of work (labor) required to create a product under normal conditions. This includes the value of the constituent parts used in the production, such as the farming and milling of flour that the baker will use to make bread. This is not the same as “price” which will be affected by supply and demand and abstract market forces.
  3. Value is defined by the amount of labor used in the creation of a product under typical circumstances, as measured in units of time. This is measurement requires an understanding of what “typical circumstances” should be, as artificially inflating the amount of time spent laboring does not increase the product’s value, nor does completing the work in above average time. Creating a more efficient standard of labor, however, will affect the value of a product. Implementing a production line is one example of increasing efficiency in a way that decreases value.
  4. Labor is the act of production; creating products valued by society. Labor power is one’s capacity to labor, or the amount of labor one is capable of in a given period. An individual is generally capable of more labor than is strictly necessary to meet their essential needs. Capitalist production exploits this by covering the worker’s essential needs in exchange for the surplus value.
  5. Surplus value is the value created in excess of what an individual needs to sustain themselves. If I as a worker generate enough value in half a day’s work to cover all my own expenses that day, the value I create in the second half of the day is a surplus value.

    In a capitalist system, this is the value the company/owner keeps for themselves after the expense of production. There is a natural and unavoidable tension in this, as the worker and owner will inevitably be at odds over the distribution of this value. The capitalist will want as great a return as possible on their investment, meaning they will want as great a portion of the overall value of a product as possible, and may leverage their capital to get it.

    To return to the baker once more, a baker may be able to meet their own daily needs by selling 10 loaves of bread. They may need to sell 10 additional loaves of bread to cover the expenses of production. Any bread sold in excess of that is almost entirely surplus value that the capitalist/owner may keep for themselves. If margins are thin or the owner is greedy, they may seek to increase the “surplus value” by arguing to diminish the worker’s share or cut production expenses.
Posted on by Maria · 1 Comment

Discussion

The means of production are the things people use to make products, like machines, tools, buildings, and land. For example a restaurant’s kitchen and cooking equipment are means of production. Labor is the work people do to make a product or provide a service. For example, a cook’s work in a restaurant is labor. Value means how much something is worth. Something can have value because people spend time and effort making it. Labor and value are connected because workers help create value through their work.

Labor is the actual work a person does. Labor power is a person’s ability to work. For example a person’s ability to work at a store is their labor power while the work they actually do at the store is their labor.

Surplus value is the extra value created by workers that is not given back to them as wages. For example a worker may help a business make more money than the amount the worker receives in pay. Surplus value is important because it helps us understand the relationship between workers and business owners.

Posted on by Steven Chavez · 1 Comment

Steven Chavez – Social Class

  1. The means of production is the things, which are privately owned, used to create something by humans. Labor is the effort a worker puts in to create something. An example of this is a cafe worker making a coffee. The means of production are the coffee machines and the labor is the worker preparing the coffee, pouring it into the cup and giving it to the customer.
  2. Value is how much something is worth. Labor is what gives “value” to value. The labor time under normal circumstances is what determines the value of something. The longer a worker has to put effort to something under normal conditions, the more valuable it is.
  3. As the labor time under normal conditions increases, the value of what is created through the labor increases. As the labor time decreases. the value of it also decreases.
  4. Labor is the actual physical process of doing work in order to create something. Labor power is being able to work well, given that you are able to sustain yourself well enough through basic necessities like food, water, etc.
  5. Surplus value is the extra value created by a worker through labor, which is kept by the boss. It is important to know about because it shows how the owning class is able to stay rich while the workers have to keep working in order to make a living, because the boss keeps most of it. For example, a cook makes food and the restaurant makes $400 from him. He only gets $120 for the day.

Posted on by Tracey

Labor Power and Surplus Value

In small‑scale commodity production, Jalee explains the formula CMC: you sell a commodity (C) to get money (M) so you can buy another commodity (C) that you actually need. This is how small producers live. they make something, sell it, and use the money to meet their needs. The goal is use, not profit. In contrast, MCM’ describes capitalist production. Here, someone starts with money (M), buys commodities (C), usually labor power and raw materials, and ends with more money (M). The key is the prime mark (M). It means the capitalist ends with more money than they started with. That “extra” is surplus value, the profit created by workers. Jalee calls M‑C‑M the general formula of capital because it shows that the purpose of capitalist production is not to satisfy needs, but to increase money.

Jalee explains that money becomes capital only when it is used to buy labor power, because labor power can create more value than it costs. Workers are paid for only part of the day and thats for the time needed to reproduce their wage, but they work longer than that. The extra hours they work, which Jalee calls surplus labor, create value that the capitalist keeps as profit. This is how surplus value is extracted. Because capitalists continuously use money to buy labor power and take the surplus created by workers, their money grows and they remain wealthy as a class. Workers, who do not own the means of production, must keep selling their labor power, which keeps them dependent. Buying labor power, extracting surplus labor, and turning it into surplus value is what transforms money into capital and keeps the capitalist class in power.

Posted on by Tracey · 1 Comment

Labor and Class Conflict

Means of production are described as the tools, machines, land, and resources that make production possible, and Marx emphasizes that these are owned by the capitalist class, not the workers who actually operate them. Labor, on the other hand, is the human activity that transforms raw materials into useful goods, like a warehouse worker scanning, lifting, and organizing packages. The video explains that value comes from the amount of socially necessary labor time required to produce something, meaning things become valuable because human labor is embedded in them and they meet a human need. Labor and value are directly connected because labor creates value, and value is essentially a measurement of labor. Marx makes an important distinction between labor and labor power: labor is the actual work performed, while labor power is a worker’s capacity or ability to work, which is what they sell to an employer for wages. This difference matters because workers are paid for their labor power, but the labor they perform produces more value than their wages. That extra value is what Marx calls surplus value—the value workers create beyond what they are paid, which the capitalist keeps as profit. Surplus value is central to understanding social class because it reveals how exploitation is built into the economic system; for example, if I earn$18 an hour but I produce $120 worth of goods in that same hour, the owner keeps the difference, showing how surplus value fuels capitalist profit and class inequality

Posted on by Journi McEachern

Journi McEachern- Discussion Board 5.1

  1. From the video, I understand the means of production as the things people need to make products or provide services, such as buildings, machines, tools, and equipment. For example, if someone owns a clothing factory, the factory and the machines used to make the clothes would be the means of production. Labor is the actual work people put in using their time, energy, and skills. For example, the workers in the clothing factory who sew, pack, or make clothes are providing labor. Basically, the means of production are the things used to get the work done, while labor is the work people actually do.
  2. I understand value as what something is worth based on the labor and work that goes into producing it. Something does not just become valuable because of the price attached to it. The time, effort, and skills workers put into making a product also help create its value. For example, a shirt has value because workers had to make the material, sew the shirt together, package it, and prepare it to be sold. So, to me, labor is a big part of what gives something value because without the work being done, the product would not be created in the first place.
  3. I think labor and value are connected because labor is what helps create value. The time, effort, and skills that workers put into making a product are part of what makes that product valuable. For example, a piece of fabric by itself may not be worth as much, but once workers use their labor to turn that fabric into a shirt, its value increases. The same thing can happen with many different products. Basically, without labor, a lot of the things we buy and use would not be made. So, labor plays an important role in creating the value of a product.
  4. Labor as the actual work a person does, while labor power is a person’s ability or capacity to work. Labor is what happens when someone is actually using their time, energy, and skills to complete a job. Labor power is more like what a worker is offering to an employer when they agree to work for a certain amount of time. For example, if someone works in a factory for eight hours, the work they actually do during those eight hours is their labor. Their labor power is their ability to work those eight hours and use their skills to do the job. So, to me, the main difference is that labor is the work being done, while labor power is the worker’s ability to do that work.
  5. I understand surplus value as the extra value workers create that they do not receive back in their pay. For example, if a worker is paid $100 but helps produce $300 worth of products, the extra value helps create profit for the business owner. This is important when studying social class because it shows how workers and owners can benefit differently from the same work. Workers receive wages, while owners can earn more from the value that workers create.
Posted on by Toni Slay

Labor & Production – Toni Slay

  1. The means of production is what you need to make any product. The means of production is when a product is privately owned by capitalists instead of laborers. Capitalists typically gain ownership through inheritance or through violence. the products are then sold in the market to make profit. An example could be a textile factory, workers use their time, resources, machines to make clothing but capitalists own the factory and make profit from the products. Labor is when workers use their time and resources to produce goods, they are the working class and work under capitalists in exchange for money. An example of labor could be workers spending hours working in a factory to produce goods or services.
  2. Value is how much a product or service is worth. Some factors that determine somethings value is how useful it is, how much time it takes to make the product, or how bad people need it. An example of value is clothing, clothing is valuable because people need it for protection or style.
  3. Labor and value are closely related. A products value is measured by how much labor it takes to make the product under regular circumstances. Labor is measured in time, hours and minutes. the more time it takes to make a product the more valuable it becomes.
  4. Labor power is the ability to labor and increases the value of what you have. Labor power also applies to people only. For instance when you go to work you use your labor power for the day. While labor is the actual work you using your labor power. Labor power takes food, shelter and other basic necessities to sustain it for a regular work day. The big difference between the two is that labor power is the ability to work while labor is the actual physical work that you do.
  5. Surplus value is value on top of the value it took you to get there. Capitalists uses this extra value as profit. Surplus value s important when studying social classes because it helps build a perspective on the relationship between capitalists and the working class. surplus value can be demonstrated when a worker is paid less then the products that they made. For example if a factory worker making 400 dollars worth of clothes but only receiving 150 dollars in wages. This is surplus value and that way capitalists can benefit from it.