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 and labor I understand as the following; The Labor is the amount of time it takes to create something. And the production is the amount of the product you can create in the allotted time frame. For Example. I am in the business of selling shampoos. It takes me 1 hour to create 10 bottles of shampoo. The labor is an hour and the production is 10 shampoo bottles.

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?

The Value is how much a product is worth. What gives a product value is the time it takes to create said product. For example; My shampoo making business allows me to make 10 shampoos in 1 hour. I sell my shampoo at a higher amount than a shampoo business that uses a machine or factory who can make 100 shampoos in an hour, because mine is more time consuming for the product being produced. Therefore, my product becomes more valuable than the factory shampoo being produced at mass production.

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

Labor and Value are related and cannot exist without each other because the labor is what gives a product its value. Not taking away from the fact that any additional values that can be taken into consideration when producing something valuable. For example. My shampoos can be even more of value not just for the time it takes to make my 10 bottles but also the expensive materials or unique goods used to make my shampoo.

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 labor is the work that you have to do. And the labor power is the amount of things it takes for you to complete the labor you are being paid to complete like your food, clothes and transportation needed for you to even begin doing the labor you are being paid for.

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 profit your employer makes out of your labor on top of the amount of work that was essentially needed to create the product you were hired for. In other words, it takes me 1 hour to produce 10 shampoos. I am hired to make 40 shampoos a day. I work for 8 hour a day and In 4 hours I make the amount daily goal amount of 40, but because I still have another 4 hours of work I end up making 80 shampoos a day. Those extra 40 bottles of shampoo are the surplus value in my business. It is the amount of money extra that I make off the labor I provided in one day. If I am my own business owner than that is my money. But if I work for someone else then that business owner just benefited off my hard work and had extra product made without paying me more for my time in making shampoo bottles.

1- The way I think of production is anything that needs labors in it like , business it is a production that is owned by a private person and examples of productions can be Uber eats , Spotify , buildings , halls . On the other hand labor is where people work like factories , fast food areas 

2- we accomplish things by the way we value it and put time and effort into what we are doing 

. 3- Value is making something from scratch like my father making his business from zero he cam into America and didn’t have anything but worked in peoples delis and saved money opend a restaurant and put his life into it and really valued it and Every time he almost gave up he remembers he had a family to feed and how he worked long hours standing up and cleaning in other peoples delis , now he owns many restaurants down town Manhattan. 

4. We can all agree that labor is the work that the people work physically and mentally and the time that people put in there jobs and labor power is the ability and capacity to work 

5. Surplus value is the value on the top witch means that the labors won’t get a profit other than there wages and that that it will go to there boss , or the one that owns the company

Veronica Gonzalez

POL 100 (0504) – Intro. to American Govt. – Fall 2022

Discussion Board 5.1

Q1. In my understanding the means of production represents the materials, equipment and even the talent that is needed to produce a product that will then become profit producing.

Labor represents the work that a worker puts into a product, idea, or design that then transforms that product, idea, or design into something that is now seen as having value.

An example of means of production would be the materials that a Uber driver uses i.e. car, gasoline, gps, the skill of driving, to produce an income. 

An example of labor would be the skill and craftsmanship that goes into transforming glass into a glass vase that now has a different look and purpose to it.

Q2. Based on the ideas presented in Video 5.1 the value something has is based and measured by how much labor went into producing it under normal circumstances.

The item/product/design has value because of how much labor was put into creating it by the worker.

Q3. Labor and value are related in that one can not exist without the other. That being said, the relationship/connection between labor and value is that it is not only the design, the skill, talent and craftsmanship that the worker puts into making this product that is being considered/evaluated, but it also includes the time/hours of work invested in the making of this product which gives it its’ value to where the purchaser is not only paying for the product but they recognize its worth and then deciding to purchase the product and pay the price that it is being sold for.

Q4. From my perspective, the difference between labor and labor power is that labor is the time invested, by the worker, into making a product whereas labor power is the capability, skills and the capacity of the worker to labor/work. Labor power exists only in people and it is this capability, skills and the capacity of the worker that makes them valuable to the capitalist.

Q5. Surplus value is defined as profit that the owner receives from the labor of their workers. Surplus value is key in capitalism and it is dependent on the workers having to labor and produce more yet their wages are not increased. Knowing how surplus value affects society is important because from a capitalist perspective, it shows us how society is viewed to be either in the worker class or the owner class. An example of surplus value would be factory workers who work long hours to produce name brand items of clothing. These workers sometimes work in deplorable conditions, sacrifice their personal time, lack in benefits and are paid wages that are way below what the items they produce sell for. The workers only receive the wages they are contracted for while the owner receives all of the profits from the sale of the items the workers so arduously pieced together.

Means of production are the facility and resources required to produce goods. Labor is the manual work that goes into the production of goods by workers. 

According to Marx, value is based exclusively on the amount of work put in by the laborers. He thinks that sentimental value is ridiculous and he believes in a perfect society that the middle man between laborer and purchaser should be cut out, thus ensuring the money for the purchase goes directly to the laborer based exclusively on the value of said labor. 

Labor and Value are related because the value of a product (according to Marx) should be based on the amount of labor that went into it. 

The core difference is that labor power is the capacity to perform work in a general sense, whereas labor is the physical act of work. Another way of looking at Labour power is that it’s what the worker sells to the employer in order to have value as a worker.

Surplus value is another word for profit. It’s the total amount of money made minus wages for labor. In Marxist theory, the surplus value should be minimized. 

1. 1. Understanding the means of production and labor is the means of production are producing products and means of labor is putting work and effect into products, as Marx had put it ” All those things with the aid of which man acts upon the subject of his labor, and transforms it”. An example of means of production and means of labor are machinery and tools such as construction and factories.
3. 2. Value is how much labor it takes to make something under normal circumstances. What gives “value” to value is the work put into creating products. What makes something valuable is the quantity and time taken to create products.
5. 3. Labor and value are related and both have a connection as with labor comes value. Putting hard work and time into creating a product, builds up the value in the product. The less being done, the less value there is.
7. 4. Understanding the difference between labor and labor power is labor power is measured in time; hours and minutes and labor is the physical work of an individual making products. The more labor times it takes to make something under normal conditions, the more valuable it is.
9. 5. Surplus value is value on top of value it took to get you there. It is important to know about surplus value in our study of social class because majority of people today are between lower class and middle class and many individuals do not have the luxury of not having to work and being born into wealth. Individuals work hours and hours, days after days, to make ends meet.

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: Means of production is the use and ownership in society of the elements of goods and services. An example of a means of production is mine. 

Labor: Work that involves physical and/or mental effort. An example of labor is “studying hard for a test” 

2.Another important concept in understanding social class is value. Based on the ideas presented in Video 5.1, what is value? 

Value is that quality of an entity according to which it is thought of as being desirable, useful, estimable, important, etc. It is the worth or the degree of worth. 

 3.What give “value” to value, what makes something valuable? How are labor and value related? What’s the relationship/connection between the two? 

The labor theory of value is a notion that an item’s value is directly linked to the number of labor hours required to produce it. For example, if a car requires 5 months to build compared to 4 hours to build a desk, then the car would be a lot more valuable, according to the labor theory of value.  

Value has never been a built in property, characteristic or part of the actual thing we value. It is always a product of our mind, and is always present in our mind.  

 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 power is what a worker sells to an employer, while labor is something humans have always done to produce the goods and services upon which life depends. Labor power is often absent in long periods of human history, reaching its fullest presence in capitalism.  

 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 unpaid value of the labor of the worker which creates a surplus product, of which the entrepreneur becomes the owner i.e., the difference between the value that living labor creates in production and value paid by the capitalist to the worker in the form of wages. An example of surplus value would be if somebody sold a secondhand asset at a profit. Such a transaction will not be recorded in gross product measures. Nevertheless, a surplus-value is obtained from it. 

1. The way I understand means of production is, what is needed to produce a product. An example would be how when the news does the weather, they need the weatherman, a camera man and overall the system they use to predict the weather because or else they would be giving inaccurate information. As for Labor, it’s best understood as what you put in, in order for the product to increase or have value. The best way to explain is how sneakers may cost a lot and be priced at what they want but it also takes time and labor to make those products one by one.
2. As I recently described Value would be considered the work that goes into something, in this case the labor it takes to make or do something. What makes something Valuable is when it’s done properly and done in the correct manner. It’s like when comparing a house to a building, you know more effort will go into the house because it’s yours as the building will only get the bare minimum since it’s only being rented one by one apartments.
3. Labor and value are related because without the labor being put in, there we be no value in anything. As I previously explained, something can’t have value unless someone makes something out of it. For example, like having Lemons and not making Lemonade.
4. The difference between labor and labor power are that labor is what it takes to make products as labor power is the time you give to the employer in order to make the product. It’s like when you go to work you get paid, but you also put in time to do what you’re getting paid for. So as you do something you also put in time and effort, that’s how they go hand in hand.
5. Surplus Value is what the bosses profit. It’s important in social classes since it reminds us that as the working class, we are making more money for others than ourselves. Perfect example, how some jobs will tend to have one person do a job that takes 3 people to do. It gives you a lot of work but saves them money since they only pay one wage not 3.

1. Means of production is anything that is used in the production of goods to generate income. In capitalism the means of production are owned by private individuals, these include the buildings that can be rented out, or factories where people work in, the machines/equipment’s used to perform those jobs. Other examples of means of production are land, raw materials, basically anything needed by the labor to produce things are means of production. Labor on the other hand is the human factor needed to produce goods and services. These are the people that work in the factory, or use the equipment to produce goods etc. Labor utilizes the means of production to make goods and services to make the money needed for survival.

2. Value is worth/usefulness of something, and what makes a thing valuable is the amount of labor that was put into the production of that thing under normal conditions. This means that the higher the amount of labor put into the making of an item under the normal circumstances, the more valuable that item becomes. If that item is usually made under an hour, and someone takes either less or more than an hour to make that item, the value of the item does not increase, but if under that allotted time you had more manpower in making of that item, that’s when the value increases. Value of a good/services is not entirely based on the time it takes to make an item but the amount of labor it takes to make that item under the normal condition.

3. The value of a commodity is based on the amount of labor it takes to produce that commodity.  The relationship between them is that labor gives value to a good or services. For Example, if you put more labor into making a car, that car become more valuable than the car  that was produced with less labor.

4. Labor is the act of producing goods and services, while Labor power is the ability/capacity to work in a specific time, and it increases the value of one’s labor. Labor power is what the employees sells to their employer in exchange of money. Labor power can include the physical act of working, skills or brain power needed in performing tasks at work for a specific time,( for example, 8am-4pm, or 9am-5pm).

5. Surplus value is the excess of value that labor creates during the time of production. This is how employers make their profit. The pay workers way less amount compared to the amount of money they make in the entire course of the days labor. I think it is important to know about surplus value in the study of social class because it shows the importance of the working class to the capitalist in terms of making their money, and further proves the exploitation of the working class. The employees are paid less than they generate during their labor time. Let’s say during production, an employee generates like $4000 an hour, the employer is only going to pay the employee only $20 because that’s the hourly wage. And because it is privately owned, the $3980 goes to the employer as his profit. This is the surplus value.