SOCI 2040 Lecture Notes - Lecture 3: Labour Power, For Marx, Commodity Fetishism
Document Summary
Mode of production: is how the economic production is organized generally: capitalist mode of production: the mode of production in capitalism is industrial. It: capitalist mode of production: private ownership and control the means of production. Means of production are the machines and factory. The lords own you would keep some and give the rest to the lord. produce the product things: communist mode of production: the ownership is not private. The ownership is public and the control is public. It is owned by a public institution in which everyone has the power. If you invest your money into a company and you earn a you invest, it comes from labor. We use commodities to fulfill our the bag. needs. Use value is about how well it fulfills our needs. Each object is priced differently because of the amount of labor that goes into it.
