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?

One thought on “Discussion Board 5.1”

  1. Question #1
    Means of production is a product that with the application of labor can be used to produce a product, that will bring profit to the owner. Example: coffee machine to produce iced lattes.

    Labor is defined as a thing/action (labor) that can increase the value of what we own, it is measured in time (example: making handmade soy wax candles.)

    Question #2
    Value is a measurement expressed by time and how much it takes to produce a product under its natural circumstances. The more time it takes to produce something the more valuable it becomes. Time is an undetachable part of the value as it severs as its main indicator.

    Question #3
    Labor and value are strongly connected with each other. Value is what defines the “worth” of labor. The more labor/time we put into something the higher value it will have. They have a positive correlation, which means two variables are moving in the same direction, following each other’s patterns.

    Question #4
    Labor power is only found in people, it takes a certain number of other commodities to maintain. Labor is the work and time a person puts to produce a product while labor power is the value of work that an employee “sells” for an employee.

    Question #5
    Surplus value can be also referred to as a profit. It’s a value that we receive as a final product after subtracting all the costs that it takes to produce/maintain it. Marx believed that people are always being paid less than their labor is worth bringing a profit to a third-hand party such as a private business owner who through their labor is making a profit for themselves.

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