“The Production of Absolute Surplus Value” dealt with the prolongation of the working day. “The Production of Relative Surplus Value” describes the extraction of surplus value within the same working ...
The surplus value, or that part of the total value of the commodity in which the surplus labour or unpaid labour of the working man is realized, I call profit. The whole of that profit is not pocketed ...
Author’s Note: The following is an abridged and edited passage from the first chapter of my Invisible Leviathan: Marx’s Law of Value in the Twilight of Capitalism, published by Haymarket Books in 2019 ...
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Defending the Labor Theory of Value
Marxists tend to like the labor theory of value because it provides a vivid account of exploitation and highlights a basic antagonism at the core of capitalism: capitalists and workers are locked in a ...
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