Discussion Board 5.1

  1. Two key concepts in this video are the means of production and labor. In your comment, explain how you understand the means of production and labor. Give an example of each.
  2. Another important concept in understanding social class is value. Based on the ideas presented in Video 5.1, what is value?  What give “value” to value, what makes something valuable? 
  3. How are labor and value related? What’s the relationship/connection between the two?
  4. How do you understand the difference between labor and labor power? Hint: this is a key difference, give it your best shot based on what the video says about it, and your own ideas. We’ll clarify and develop it in our discussions, and in my video comments.
  5. Surplus Value: what is it? Why is it important to know about, in our study of social classes? Think about an example of surplus value?

DB 5.1 Kayla Zagal

  1. The two key concepts are means of production and labor. The means of production refers to be the things being made for the companies and need materials to bring the things together. Labor is where the workers are working and trying to earn their money, in charge of the things to have the things in order. An example will be a factory and the workers are working to keep the business going and sure that the things are good.

2. Value is towards the time and labor that working class spend on commodities. An example, in the video the speaker was saying how there are manufacturing automation will make products for a cheaper price. There will be technology doing the work instead of the workers. This makes labor something valuable.

3. Labor and value are related since labor is charged of the product and the cost so then the value is what made the product look better and the worth will be more.

4. Labor and labor-power have a difference between each other which is labor can be measured in time, hours, and minutes. The more time it takes to make something, the more valuable it can be. Labor-power is when a worker sells to an employer. Commodity is applied which can increase the value. Labor-power is found only in people.

5. Surplus Value is the value produced by the labour of workers over the wages they are paid. It goes directly to the boss and the company. Surplus Value is an important measure in the studies of social class, the workers are the ones that get the credit due to the work they do. Their wages can be high or low depending on what they work at and if the business is successful.

D.B 5.1 – Justine Lazdina

  1. MEANS OF PRODUCTION

I understand the means of production to be the things, i.e. equipment, one needs in order to produce a product. An example could be the tools and materials a carpenter needs to make furniture.

LABOR

I understand labor to mean the work put into creating a product with the means of production one has. To continue with the example of a carpenter: the amount of work that the carpenter puts into creating a piece of furniture is LABOR. The amount of labor put into the creation of a piece of furniture usually determines its value; more labor equals more value.

2. VALUE

“What gives “value” to value, what makes something valuable?”

I understand value to be the amount of labor that was put into creating something. So, labor gives “value” to value. The more labor put into something, the more value it SHOULD have.

3. LABOR & VALUE

Labor and value are related since labor is the SOURCE of value.

Their connection lies in the ability of labor to give something value. Without labor there is no value.

4. LABOR VS LABOR POWER

I understand the difference between labor and labor power to be the same as between “work” and “the ABILITY to work”.

Labor creates value and labor power is ones ABILITY TO LABOR, therefore, the ability to create value.

As per the video, Marxists consider labor power to be the most important commodity in the world and only people possess it. When people go to work, they are renting out their labor power.

5. SURPLUS VALUE

Surplus value is profit. Profit is created by the worker after their labor has covered their costs of getting to work. The more labor they are able to provide after their labor costs are covered, the more surplus value they create.

It is important to know about surplus value in our study of social class, because it plays a huge role within the worker/capitalist relationship. Surplus value is what the capitalist is after.

An example of surplus value would be the work of a construction worker; it takes about 4 hours of his labor for the company to pay him for his work, but he continues to work for many more hours after, creating MORE PROFIT for the company and NOT getting paid for it! This is surplus value.

ZHONGQUAN

  1. The means of production refer to the resources and tools that workers need to use for production. Generally, they can include land, factory buildings, machinery and equipment, tools, raw materials, and so on. The means of production is the sum of the means of labor and the objects of labor in the production process. It is a necessary material condition for any society to carry out material production. Mean of labor is the sum of all material data used by humans to influence and change the objects of labor. Production tools are the most important part of the means of labor. What needs to be emphasized is that the means of production include production tools, but the tools of production are not necessarily the means of production. Only when the means of production exist in the system of the means of production and contribute to the value generated by the means of production, it has the nature of the means of production. For example, the same hammer, in a factory, is part of the means of production and is an exploitative tool. At home, it is not a means of production, but a means of living.2
  2. and 3″ The value of commodities is the homogeneous human labor congealed in them”-《Das Kapital》If this sentence is hard to understand, no problem. The specific labor forms value in use.Abstract labor forms value in the entity. The homogeneous human labor (Abstract labor) refers to the process by which humans consume labor, physical and mental power, and generate common values ​​in the production process. Simply put, the value of the commodity is the homogeneous human labor. 4 . Labor force refers to a person’s ability to work, which is the sum of a person’s physical strength and mental strength, that is, the ability of a person to use his brain and physical strength to do a certain kind of work. Labor is the expenditure and consumption of this labor capacity, that is, the use of labor in the process of value creation. Simply put, the difference between the two is that one is the ability, and the other is to use this ability. What is the point of distinguishing them? In a capitalist society, it is labor forece rather than labor that workers sell to capitalists in the labor market (various forms of recruitment). 5. Surplus value is the value-form of the surplus labor that the employed laborer continues after completing the necessary labor. In layman’s terms, a hired worker creates an average of 300 U.S. dollars a day, and his salary is one hundred U.S. dollars. This 100 U.S. dollar salary is the value of the labor commodity, that is, the necessary labor value and the remaining 200 U.S. dollars is the surplus value.

Production, Value, and Labor

  1. Two key concepts in this video are the means of production and labor. In your comment, explain how you understand the means of production and labor. Give an example of each.

Means of production are the physical things needed to create a product, while labor is the effort and literal man-power needed to use the means of production to create a product. For example, for a writer the means of production may be the paper and pens or technology they use to actually write a book, and the labor is the effort, energy, thought process, and mental focus that they use to create the book with those tools.

  1. Another important concept in understanding social class is value. Based on the ideas presented in Video 5.1, what is value?  What give “value” to value, what makes something valuable? 

Value is how much labor goes into the creation of a good (or service). The value is in outsourcing labor to someone else to create a product that we otherwise could not produce ourselves or do not want to produce ourselves.

  1. How are labor and value related? What’s the relationship/connection between the two?

Value is derived directly from labor. Labor is a force to create value in a service or product, without which there would be no value inherent in the service/product because it wouldn’t exist.

  1. How do you understand the difference between labor and labor power? Hint: this is a key difference, give it your best shot based on what the video says about it, and your own ideas. We’ll clarify and develop it in our discussions, and in my video comments.

Labor is the actual effort put into creating value, while labor power is the total effort and time needed to create the labor itself. I go to work, and work for 6 hours, and that is my labor. The labor power is the time and energy I spend on getting ready for work, commuting to work, buying clothes for work, buying or preparing food for my time at work, etc.

  1. Surplus Value: what is it? Why is it important to know about, in our study of social classes? Think about an example of surplus value?

Surplus value is the value that workers create through their labor that doesn’t directly get paid to them, but to the owners and capitalists. It is important to be aware of surplus value, because often there is a large discrepancy between value produced and worker compensation resulting in a large surplus of value not being given to the worker. This relates to social class because people who are producing surplus value have little social mobility and ability to accumulate the value they produce, while those exploiting them continue to maximize their personal profits without appropriately redirecting surplus value back to the workers, thus widening the gaps between social classes.

5.1

  1. Two key concepts in this video are the means of production and Labor. In your comment, explain how you understand the means of production and Labor. Give an example of each.

Production means the act of making or creating something out of components or materials or the state of being made. And Labor implies the amount of physical, mental, and social effort required to produce commodities. 

2.Another important concept in understanding social class is Value. Based on the ideas presented in Video 5.1, what is Value? What give “value” to value? What makes something valuable?  

Based on the video, Value is the proportion of how much effort it takes to make something. How valuable the object is, how much work it is put into the work. For example, what makes something so expensive, or if there’s a message behind it.  

3.How are Labor and Value related? What’s the relationship/connection between the two?

Labor and Value have a lot of similarities. The relationship/connection between Labor and Value Is how the product of Labor is Value. The products that come from Labor make them valuable.

4.How do you understand the difference between Labor and labor power? Hint: this is a key difference. Give it your best shot based on what the video says about it and your own ideas. We’ll clarify and develop it in our discussions and my video comments.

 Labor generates the things and services; this is the part of the work that people live off; they make objects to sell to companies. And labor power is what they sell.

5.Surplus Value: what is it? Why is it important to know about, in our study of social classes? Think about an example of surplus-value?

The difference between the amount raised from a product’s sale and the amount it costs the product’s owner to make is known as surplus value. The term “surplus value” refers to the result of economic exploitation.

Nikita Vasilyev – D.B. 5.1

  1. The amount of time it takes me to type in, review and edit the response to the first question is labor, the laptop which I use is the means of production along with the charged battery and Internet connection. In short, labor is the amount of work that it takes to produce a commodity, it is measured in time. Means of production would be tools and ways to produce a commodity.
  2. Based on the video, a product’s value is the amount of labor that it takes to produce under normal circumstances. Therefore, the more labor (time) it takes to make a product, the more valuable it is. 
  3. There is a direct relation between labor and value – the more labor it takes to produce a commodity, the more valuable it is.
  4. The difference between labor and labor power is this: while labor power is a potential or a commodity that creates surplus value, the labor is the act of work itself. Let’s pretend that we are hiring a professional for an entry office position in advertising: their labor power consists of using multiple applications or software, but what they will do on a day-to-day basis, regardless of the software they used, is what we would call labor.
  5. Surplus value is defined as a product of capitalist exploitation – “it could be measured by ascertaining the ratio between the amount of time given to surplus labor and that to necessary labor”. What that means is that most workers spend at least a third of their day creating commodities that are “free” to a capitalist, since the expenses for labor have been covered by the worker’s necessary output in the first 3-4 hours of a workday. Surplus value, therefore, is an important measure in our studies of social class – if the means of production are owned by the capitalist class, if workers spend a big chunk of their workday working, technically, for free, then we can see how the toxic dependency on capitalism presents itself in the workplace.

DB 5.1

  1. Means of production are basically the tools and materials used to create a product. Labor is high-skill or low-skill work put forth to create a product. For example, if I wanted to perform the labor of creating a website, my means of production would include web development skills, domain name, and of course core content for my audience. 

2. According to the video, I understand value being dependent on how much labor and time it took to create the product. For example, I could have a choice between purchasing a $40 pair of shoes or a $400 pair of shoes. The difference in value may include how long it takes to make the shoes, quality of materials, whether a skilled person made them or a machine did most of the work. Also, with selling services, value could be determined based how long it would take to do under normal circumstances. If a service or products takes longer than normal to complete, its value may decrease. 

3. Labor and value pretty much support one another. Labor will determine a product or service’s value. Value may convey how much labor was put in to produce the product. If someone tells me their leather wallet cost $150 I would wonder why it cost so much. After they explain that it’s handmade with genuine leather, the pricing would be justified.

4. Based on the video, the difference between labor and labor power is that aside from actually performing the work (labor), you would need the ability to perform the work (labor power). These could include your cognitive state, physical abilities, overall wellness to be able to accurately do the work. Labor power only pertains to humans. This is because in order for us to produce to the best of our ability, we require food, proper housing, and comfortable, clean clothes. Labor is performing the task, labor power makes us able to successfully perform the task.

5. Surplus Value could be described as the profit that is made by the laborer but it kept by private owner who employs the laborer. Even if the laborer did the work they will not directly compensated from each monetary transaction they make. For example a restaurant cashier may get paid a flat rate of $11/hour. That one cashier may ring up $1,500 in transactions in one day but  only be compensated $88 (pre-tax) due their flat-rate wage. The amount the worker is being paid is grossly disproportionate to the profits being made by the company. This is important to know because it speaks to the greed of capitalism that most people may not be aware of.

Discussion 5.1- Jasmin Amigon

  1. Two key concepts in this video are the means of production and labor. In your comment, explain how you understand the means of production and labor. Give an example of each.

Means of production are privately owned rather than owned by the laborers and their products are sold in a market for profit. An example of means of production could be small business owners that promote their product on Etsy, the website provides workers a virtual workspace to promote their product which supports the seller by keeping their business running by providing materials to make a product. Since Etsy charges a monthly subscription fee of $15.00 USD and sales tax. This reveals that means of production are a material part of productivity and a tool used in the production of commodities. Labor is essentially the time it takes to produce a commodity and it’s the only thing that can increase the value of a product. This means, that the extensive time a worker spends on a commodity the greater the value.

  1. Another important concept in understanding social class is value. Based on the ideas presented in Video 5.1, what is value?  What gives “value” to value, what makes something valuable? 

A product’s value is increased by what you have and the amount of labor that went into it. For instance, Marx believes value is the ‘socially necessary abstract labor’ embodied in a commodity. Value is essentially what something is worth which could range from historical, high to low in price, or sentimental significance it brings. All these examples could impact something’s value. 

  1. How are labor and value related? What’s the relationship/connection between the two?

Labor and value are connected because labor can be measured to determine its value. The more extensive labor to produce a product the greater the value.  

  1. How do you understand the difference between labor and labor power? Hint: this is a key difference, give it your best shot based on what the video says about it, and your own ideas. We’ll clarify and develop it in our discussions, and in my video comments.

Labor is essentially the time it takes to produce a commodity and it’s the only thing that can increase the value of a product. Next, Labor power is what a worker sells to an employer. When labor power is applied it is the only commodity that can increase the value of what you have and is found only in people; the ability to work.

  1. Surplus Value: what is it? Why is it important to know about, in our study of social classes? Think about an example of surplus-value?

Surplus Value is the excess value produced by the labor of workers over the wages they are paid. the value of the commodities produced by the worker in the course of a day is greater than the value of a worker’s own labor power. The surplus-value doesn’t go to the worker but to the capitalist. Capitalists use the worker’s surplus value for profit essentially. For instance, capitalists can sell the commodities produced for a greater amount than that paid to the worker in the form of wages. An example of surplus-value could be capital gains from property sales. It is important to be informed about surplus value in this study of social classes because it explains the instability and how exploitative the capitalist system can be.

Ignacio Salas on Labor, Surplus etc…

1. Means of production are all the materials, artifacts and talent used to increase the value of something. On the other hand, Labor is the exclusive series of actions that can increase the value of something.

A construction worker uses shovels, cement, hammers, wood, paint (all means of production), to build (Labor) a house in a certain amount of time.

2. Value is the proportion of how much labor it takes to produce a something in normal circumstances. Value gets its own value from the need people sees in the labor of something to be valuable, hence, Labor itself is the only thing that can make something valuable or increase its value.

3. Value is the product of Labor, if labor is not implemented in a product its value stays the same, it doesn’t increase.

4. Labor is the process where the value of something increases, whereas Labor Power is the ability to labor, therefore is considered a commodity.

5. Is the value that the worker creates after the amount of labor power has been paid off, and this pure profit belongs exclusively to the capitalist. It is important because as we have been working with the definitions of owners and workers, the wealth of the capitalists is created pretty much based in the infinite amount of surplus value that amasses through the labor power of the workers, adding continuity to their life of no work and exploitation.

An artist creates a painting, its labor power is paid after its finished and he sells it to the capitalist to get tax deduction on that investment, later the artist dies, and then, the capitalist auctions the painting getting a huge amount of profit at the end, this one being the surplus.

Discussion Board 5.1 Hongtao Fu

1.Two key concepts in this video are the means of production and labor. In your comment, explain how you understand the means of production and labor. Give an example of each.

The means of production are the tools, materials, and facilities used to produce a commodity. Labor is the effort that a worker puts into a product and labor is what gives a product value. To give an example, let’s say this homework I’m doing is a commodity and the score I will receive is the value. The computer setup I have from the monitor to my keyboard and the electricity is the means of production. The effort that I put into typing all the answers and the brainstorm I had when I think about the answer is the labor.

2. Another important concept in understanding social class is value. Based on the ideas presented in Video 5.1, what is value?  What give “value” to value, what makes something valuable? 

Continuing the example I gave for the last question. Since the effort that I put into the answer is labor. The better I worded my answer, the more meticulously I think about my answer. The better grade shall I receive, hence the value. A more powerful computer setup might speed up my work. But it doesn’t help to make my homework better. At the end of the day, is the labor that goes into the product makes it valuable.

3. How are labor and value related? What’s the relationship/connection between the two?

The labor of the work and the value of the product is proportional. If you put into more labor to make something, the value of said item should be more valuable.

4. How do you understand the difference between labor and labor power? Hint: this is a key difference, give it your best shot based on what the video says about it, and your own ideas. We’ll clarify and develop it in our discussions, and in my video comments.

Labor determines the among of the work, labor power is the level of ability to work. Loading trucks takes a lot labor, but it doesn’t require too much labor power other than physical strength to load the truck. Graphic design is not as labor intensive as loading trucks. But it takes years of training, skills, and experience to qualify for the job. That skill and experience is labor power.

5. Surplus Value: what is it? Why is it important to know about, in our study of social classes? Think about an example of surplus value?

The surplus value is the value a worker created beyond what the value their work worth. In the perfect world a worker should earn exactly how much wealth they created. In reality, workers almost always create more value than how much they get, and that amount of value is kept in the capitalist’s pockets.