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SOC231H5 (93)
Lecture 2

week 2 and 3 readings for soc231.docx

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University of Toronto Mississauga
Zaheer Baber

Wage- labour and capital( 1847) - Capital buys its labour with money - Labour is a commodity - Workers exchange their commodity for rge commodity of the capitalist for money and the comidtty of food, clothing they can buy from the money - This exchange commodity of things is called price - Wages special name for price of labour - Wages are part of already exsiting commodities which the capitalist biys for himself labour= capilaist already have saved wages from other labour/prouducer commodieties that he then pays the worker - Labour is a commoditu which the wage worker sells to the capital How is price determined? - Price determined by the copetetion between buyer and sellers, bu the relation of iquiry to deliver, damand and supply - Sllers mutually contend among themselves for sales - Cpmepetition takes place among the sellers, lowering the prices yet there is also competition among the buys rising the prices - Competition also occurs between buyer and sellers Price of labour? - Wages rise and fall according toi rlation of supply and deamn, according to the turn taken bu comepetition of labour, the capilist, the workers and the labour. The wages determined by cost of production and the labour time ( labour power), also price of necessary means of substance( training? Food? Water?- how much time does it ake to get the product ready), aswell as depreciation of the worker( being able to reaplce the worker to reprouduce the prouduct several times over), - - Capitalist needs the workers and the workers need the capital - The worker perishes if the capital does not employ him and the capital perishes if it does not exploit labour and in order to exploit itm it must buy it – thus got to prouduce faster, the prouductive capital increase and the industry propers, the bourgeoisie enriches itself and the better the business and the more workser the capital needs Growth of productive capital? - Growth of power of the accumulated labour more then the living labour - Growth of the domination of the bourgeoisie over the working class etc.. - Profit can olny increase if the exchange value, decrease just as rapidly. - The wages and the profit must be in sync beacsue if the wages increase by 5 percent but the profit increase by 10 then the workers are still getting the short end of the stick - - Thus in conclustion- to say that wage labour is best when labour is the most rapid position is qworng ebacsue althouth the wage may be higher, the domianta class will always still be higher by 1 notbalancing wage and prodit out, more workers are needed thus more depandeance on the capilist - - - Classes – Karl Marx - Wage labourer, caplist and landowere= 3 classes of modern society based upon mode of production Manifesto of the communist party Bourgeois and proletarians - History of society is the history of class struggles - Bourgeosisie= owner of means of
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