SOC 2112 Lecture Notes - Lecture 3: Scientific Management, Labour Power
22 Nov 2016
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Document Summary
The exchange value of a commodity depends on the socially necessary amount of labor time" needed to produce it. The amount of labor it takes to make the commodities. The overall amount it takes to produce and reproduce the workforce ( need to have a massive workforce) The value of a commodity cannot just be intrinsic to the commodity itself but is realized through the production and exchange process. The worker has to sell his/her labor in order to subsist. Marx saw that labor was a special type of commodity. Under capitalism labor can be bought and sold on the market. But even though the capitalist buys the labor of the worker what he really bus is labor power. The profit which is realized through his/her labor power is appropriated by the capitalist as his own. The system allows people to purchase labor power as well. Allows the capitalist to continue accruing profit.
