1. The means of production refers to the physical and non-physical resources put into goods and services. An example of this would be a car factory with machines and automatic systems as the means of production because it enables the manufacturing of cars. Labor refers to the physical and/or mental human effort put into the production process. An example of this would be people working on an assembly line in a factory.
  2. Marx defines value as the amount of labour or labour power required to produce a commodity. 
  3. Labor and value are deeply connected. The labor theory of value states that a product’s value is measured by how much labour it takes to produce under normal circumstances. Labour creates value. Without labour, raw materials would remain unchanged and would have no additional value.
  4. The difference between labor and labor power is that labor is referring to the actual work performed, the action, while labor power is referring to the workers ability, skill, and what they offer to the employer. The distinction is that labor is what’s used to create value, and labor power is what is sold to the capitalist system.
  5. Surplus value refers to the extra value produced by the worker beyond what they have received in wages, but is taken by the company. Understanding surplus value is important because it helps us recognize economic inequality, and explains how wealth is accumulated. An example of this could be a shoe store employee who gets paid $15/hr to sell more expensive, high-end shoes without commission. In an 8 hour shift they earn $120, but sell over $500 worth of product which goes to the capitalist as profit.

One thought on “Discussion 5.1”

  1. Hi Najah,

    I found it important how you highlighted the deep connection between labor and value. It is true that labor creates value. And it is that value that is exploited in our capitalistic system. When a worker produces the same amount of value that they are paid, they don’t get to get the rest of the day off. The worker must work until their shift is over, and in that, a surplus of value is created to be at the disposal of the capitalist.

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