- 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.
- To my understanding Means of production refers to the materials, tools and other instruments used by workers to produce products. Labor is the amount of physical, mental, and social effort used to produce goods and services for money. For example, when it comes to a car dying in order to change it the means of production will be like the tools, the spray to make the screws come out easier and the new battery it self. while the labor is actually doing the job in unscrewing out the screws and placing the battery back in. labor Is practically your time doing the job using the means of production.
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?
- Karl Marx says that value is the amount of labor expended on the manufacture of an item under normal circumstances. The more labor done, the value increases. The less labor? it wouldn’t be as much. Just like he said ” Time Is Money”.
How are labor and value related? What’s the relationship/connection between the two?
- well in my opinion labor and value are related because I feel like value is based on labor. for example, if any machinery is used to help do a job the value is less compared to a labor worker doing it hands on because of time. its like buying a car with so many upgrades, if you were to see the same car with no upgrades it wouldn’t be the same time due to the time consumed in laboring the upgraded car.
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 job that is done to produce a product while labor power it self is the ability to be able to do the work
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?
- in my opinion surplus value is the profit your job earns from all your work. you should be getting paid more yet getting paid the wage, while the rest of your money goes to your Bosses. it is important to know about surplus value because sometimes we shouldn’t overdo ourselves for jobs knowing that we are getting paid less than what we deserve. sometimes its enough for us but we know we can get more
