Ronald C. Hinds June 15, 2025
POL 100 Sec A050
Discussion Board 5.1 Understanding Social Class
- 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 capitalist owns the means of production. The means of production include the factory, the machinery, the plant buildings and money. These are considered as the private property of the capitalist.
The value of the capitalist’s product is measured by how much labor it takes to make the product under normal circumstances. Labor is measured in time. A piece of cedar-wood which the capitalist has in his furniture factory has no value in itself. It takes labor, a carpenter, to turn the cedar-wood into the furniture. So labor increases the value of what the capitalist owns. Automation means less labor to make a product. Workers from the International Longshoremen and Warehouse Union, on the east coast and west coast of America, recently went on strike. A sticking point with their contract was “Automation”. Their signs on the picket line read “Automation Hurts Our Families” along with other slogans.
- Another important concept in understanding social class is value. What is value? What gives “value” to value, what makes something valuable?
Value is that which is measured by how much labor it takes, under normal circumstances, to produce a product. Labor is the source of value. Value is measured in time. Time is literally money. This is referred to as the labor theory of value. The craftsmanship needed to produce a product increases its value. The capitalist spends time and money to train his workers with new skills. This increases their value.
- How are labor and value related? What’s the relationship/connection between the two?
Labor is the source of value. Value is that which is measured by how much labor it takes under normal circumstances, to produce a product; this is an important caveat. The only thing that the worker has to sell is his labor.
- How do you understand the difference between labor and labor power?
Labor power is the capacity to work. The worker sells his labor power to the capitalists. Labor power is found in people. Labor power when applied increases the value of what is produced. The worker eats to feed his labor power and for his sustenance.
Whilst, labor power is the capacity to do work labor is the physical act of working. Labor is the physical or mental effort exerted by man to produce goods. For Karl Marx labor is a very important concept and he rails against the exploitative nature of capitalism. He thinks by definition capitalism is exploitative.
- 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?
With the normal work day being 8 hours, let us assume that by the time the worker finishes 4 hours, her labor power has created value equal to her daily work requirement. But she is still expected to continue working for the next 4 hours. This second 4 hours is supplementary and Karl Marx calls it surplus labor. This surplus labor becomes surplus value or profits for the capitalist.
