- 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.
Based on my understanding of the video the means of production is the materials that is need such as wood. Labor is the work/time that is needed to make something. So taking the wood and laboring it to create a chair or a desk.
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 time that is given to labor something under normal circumstances is what makes something valuable. This also includes the training a laborer might need to endure. For example a hand made chair will cost more than a chair that was manufacture buy machines. hand making of objects is much more time consuming than using machines.
3. How are labor and value related? What’s the relationship/connection between the two?
Well when it comes to labor and value the connection between the two is an objects value is based on the laboring time it takes to make an object under normal circumstances.
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.
From my understanding of labor and labor power is labor is the actual action of working and labor power is the necessities you need to do the labor such as food, clothing and shelter.
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?
based on what the video explained surplus value is the profit that is made freely off of a person. So how I understood what was being stated in the video is a worker has to work for a day. Let’s say 9-5 a person works. The owner only pays the worker for 4 hours which is the amount of hours to cover food, shelter and clothing. After that from 1p – 5p you are basically working for free but the owners are still gaining profit off of the work you put in from 1-5. This is important for us to know because this is how we live. This shows the difference between the employee/working class and the owning/wealthy class.
