GEOG 1103 Lecture Notes - Lecture 13: Wage Labour, Bourgeoisie, Productive Forces
28 Nov 2017
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Marx gives a good summary of capitalism in order to give a critique of capitalism. Ex. rental property or using a car for uber. Exchange value what you"d trade something for. Labor time is the thing all commodities have in common. Whole sale and mass production also play a factor. All value comes from labor, according to marx. Labor + means of production = goods. Means of production instruments of labor. A commodity is something used to make money. One way to increase wealth is to increase the surplus value. Surplus value extend the working day so the workers produce more than they get paid; make more in an hour than your wage. Capital is constantly seeking out the cheapest sources of labor. In order to extract surplus value and increase owner/factory"s profit. You don"t get paid, you"re selling your labor. How much your labor is worth is determined by how much time you put in to something.
