1.The means of production are the technology, materials and resources used to manufacture products, and the means of production are privately owned. For example, if I produce mobile phones, I need funds and the technology to develop mobile phones, and I need raw materials to make products.

Labor is the time and physical strength required to produce goods. The more time workers spend on goods, the higher the value of the goods. For example, the figure, whose raw materials are very cheap, but the production time is very long, so the value of the figure is also higher.

2.Value refers to the time and labor that workers spend on goods, labor can increase the value of goods. Automation makes products cheaper, because machines replace workers and reduce labor for manufacturing goods. As a result, the value of commodities has fallen, so labor can make things valuable.

3.The relationship between labor and value depends on the commodity. The more labor a worker spends on a commodity, the higher the value of the commodity. On the contrary, the less labor a product requires, the lower its value, such as automation.

4.Labor power means that laborers sell their labor ability to work for the owner to obtain income. Labor is to increase the value of commodities. The more labor the workers pay on commodities, the higher the value of commodities.

5.Surplus value is the benefit that the owner earns from the labor value of workers. Workers’ wages are only part of the wealth created by their labor. Most of the wealth is called surplus value and enters the boss’s pocket.Workers are paid far below the value they create. In our research on social class, surplus value can help us understand the capitalist system and social class.

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 production I understand as: items needed in order to produce goods and services, such as machinery, tools, land, building as well as the labor or employees. Labor consists of the people that are responsible for the production. For instance, the operational processes that are required for a bank to offer service 24/7, machine, customer service, technical support, and security monitoring. A labor example is restaurants which have different position laborer such as waiters, bussers, chef, cleaning workers, etc.

2- 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?

According to Video 5.1 value is the measure of the work you do. The more work you do the more you will fulfill your needs. In my opinion, something valuable is something that makes us complete at the moment. What I value highly today I might not value at all tomorrow but you might have something valuable today that could not compare with other values you thought you had. Everyone value things in different ways. Your assessment of the value of things depends on your needs.

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

In my opinion, labor creates values. Having a job you like provides a measure of personal need and satisfaction. As we work we create things that we value. Work value is viewed as a measure of employee performance. So work and value are related in all sorts of ways.

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.

The difference between labor and labor power is that in the labor you have to work for a full shift and get paid less, the rest of the payment goes to the owner. Labor power is the ability to work through mental potentiality and get paid more than laborers.

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?

According to the video Marx, Part 1 Surplus Value is the value created by the unpaid wage against the employer. This is important to know because always in society has been those who work for benefit of others. An example of surplus-value would-be immigrants who comes from a poor country to work in a great country. Probably, many of us have started with a very small salary here in USA and didn’t say anything just because of other circumstances such as not speaking the language, not having the experience, etc.

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.

Definition of Means of production: tools, technology one uses to get a product.  For example: I’m a singer, in order to record a song I will need things like a microphone, a quiet space to record, monitor speakers and a mixer where to connect all my technology. Those would be the means of production to create my product which would in this case be a recorded song. 

Definition of Labour: for Marx is the one thing that can increase the value of what people have. To illustrate: If I bought a big chunk of fabric and did nothing with it, its value would remain the same. However, If I labour to make a shirt out of it. Its value would increase, and all I’ve added to it was my labour. 

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? 

Definition of Value: For Marx, value is something proportional to the measure of how much labor it takes to produce something under normal circumstances. It is measured in time, hours and minutes. Under this context, what gives value to a product is the labour that a person puts in in. Likewise, the time that a person invests laboring in a product under normal circumstances is what adds value to a product.

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

The relation that labor and value have is conditioned by a product. They are cause and effect, proportional to one another. In fact, the more time a person invests into laboring the more valuable the product will be. On the opposite, the less labour that a product requires the less valuable it will be.

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.

The difference is simple: Labour is the action that applied increases the value of a product, and power of labour is the ability to get to use one’s labour. As a matter of fact, video 5.1 explains it very well. For example: a person requires commodities food, clothing and shelter to be able to have the power to labour. Then, when people go work, they rent their labour power for the day, and there they get to increase the value of products (labour)

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?

Surplus value is the value kept produced after the costs of a persons labour power is covered .Since the means of production are privately owned, any product done by an employee belongs to a the owning class. Later, they sell the products to make profit and keep that to themselves. In other words, the surpus value goes to the owning class. Under capitalism one is always paid less than what one’s labour is actually worth. What people is not paid is the profit or surplus value that the owning class keep to themselves.

1. In a manufacturing process, production refers to the process of converting raw materials or inputs into finished goods or products. To put it another way, it’s the process of making something out of nothing. A production run, for example, is a term used by some companies to describe a group of products produced at the same time. These terms can be used interchangeably. Essentially, it refers to the manufacturing process itself or the end product of a manufacturing process. Labor is the amount of physical, mental, and social effort used to produce goods and services in an economy. It supplies the expertise, manpower, and service needed to turn raw materials into finished products and services. For example the services performed by workers for wages as distinguished from those rendered by entrepreneurs for profits.

2. Based on the ideas that presented in the video value can be A thing or matter is valuable when it is able to facilitate someone. A law is valuable when it is able to establish justice. Similarly, a suggestion or advice is valuable when it helps to overcome a crisis. It is subjective as well as objective. It may have personal importance as well as universality and can be applicable to others.

3. Relative pricing between goods is explained by and predicted to tend toward a “natural price,” which reflects the relative amount of labor that goes into producing them, according to the labor theory of value.

4. Labor has always been a part of human life in order to generate the things and services that keep us alive. Labor power is a historically unique concept that has been absent for lengthy periods of human history before resurfacing in capitalism. A worker’s labor power is what he or she sells to a company.

5. Labour power is the capacity of “labour”. In Marx’s terms, labour was the physical form of activity or work while, labour power is the ability or capacity to do the work. Marx puts labour and labour power as two things. He explains that labour is not nothing but just an activity labouring activity and it has no value attached to it. It is the labour power that has a value. And, labour power is something that is exercised through labouring. In other words, Marx claimed that people do not exchange activity for wages, they rather exchange power or their ability to perform such activities labour power for exchange. Thus, Labour are the sellers of their labour power.

6. The surplus value is the difference between the exchange value of a commodity and the wage paid to the workers. Marx propounded the theory of surplus value on the basis of his theory of value. In capitalism the workers are not given a wage equal to the value they produce. They are given a wage which is far less than the value created by them. For example if the production of a commodity requires 10 hours labour power. In the process of production workers are not paid a wage equal to 10 hours but will be paid a wage equal to the 2 hours which is equal to the bare subsistence of the labour. The surplus of production over the cost is appropriated by the capitalist.  It is important that researchers determine people’s social class to generate knowledge about how one’s class positioning affects such things as quality of life (among other important outcomes). Social class is an important factor in sociology. Because it can be related to many other aspects and quality of life of the people. Social class can be used as a variable in different researches.

LiLiu

Professor Arto Artinian

POL100 (0502): Discussion Board 5.1

June 9, 2021

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 all the elements used to produce commodities, aside from human beings. For example, in video 5.1, the speaker showed that his video is his product, and his production tool is to support him to complete this video, including his camera, microphone, tripod, lighting, recording studio, background board, and editing tools, etc. The means of production is privately owned, not owned by laborers. Therefore, means of production is a material factor in productivity and a tool used in the production of commodities and services.

On the other hand, labor is the only means to increase the value of commodities. The more time workers spend on commodities, which means there is more physical or mental work the workers spend. Therefore, the more time workers spend on a commodity, the higher the value of the commodity. For example, in video 5.1, the speaker also explained that when a person buys a piece of wood, the value of the wood is fixed without any changes. Then, when workers put in labor to turn wood into a chair, it increases its value. Therefore, I think that labor is the only way to increase the value of commodities.

2. 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? 

According to video 5.1, Value refers to the time and labor that workers spend on commodities. That is, labor increases the value of commodities. Because the value of a product is measured by the amount of labor required in production. Therefore, labor makes things worthwhile. For example, in video 5.1, the speaker expressed that manufacturing automation will make products cheaper. Because automated machines replace workers, the labor spent to manufacture goods is reduced, which makes the production of commodities cheaper. Therefore, labor makes something valuable. 

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

Labor determines the value of commodities, and they are causal. The more labor workers spend on commodities, the higher the value of commodities. Because the value of commodities depends on the labor paid by workers, that is, labor increases the value of commodities. 

4. How do you understand the difference between labor and labor power? 

Labor power refers to a person’s labor ability, which is a worker who sells his labor ability to work for the owners in order to earn his/her wages. For example, in order to enhance the competitiveness of themselves and potential employees, current employees will enhance their own capabilities. They exercise their mental and physical strength to better create value for owners. Therefore, labor refers to a person’s own ability, which can be physical or mental. Labor is the only means to increase the value of commodities, which the more labor the workers pay on commodities, the higher the value of commodities. 

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?

Surplus value refers to the profit that owners exploited from the labor value of workers, which is the value of most of the commodities created by the workers is invaded by the owners free of charge and becomes their profit. Moreover, studying surplus value can help us understand the exploitative nature of the capital class, thereby helping us have a clearer understanding of social classes. According to “Democracy for the Few” by Michael Parenti, who explained that workers’ wages are only part of the wealth created by their labor, and most of the wealth is called surplus value, which goes into their boss’s pockets. For example, the author writes, “Under capitalism, however, the portion taken from the worker is not visible. Workers are simply paid substantially less than the value they create. Indeed, the only reason they are hired is so the owner can make money off their labor. If wages did represent the total value created by labor (after expenses and improvements), there would be no surplus value, no profits for the owner, no great fortunes for those who do not labor” (Parenti, p 2). Therefore, it is important to know the surplus value in our study of social classes.