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Karl Marx

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Published in: Economics
13,412 Views

marx theory of surplus value

Roshan K / Hyderabad

2 years of teaching experience

Qualification: B.A (UNIVERSITY OF HYDERABAD - 2017)

Teaches: All Subjects, Hindi, Mathematics, Science, Geography, Social Studies

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  1. Karl Marx and his theory of ' Surplus value' In all societies, the social surplus product was appropriated by a small minority of the population, there by dividing the society into class of producers and class of appropriators of the social product. This surplus can be used for maintaining the muscle power in ancient societies, to soldiers in the feudalistic societies and governments in the modern capitalist economies This appropriation of surplus is called 'Exploitation' by Marx Marx gave much importance to treating surplus-value as a general category, over and above profits (themselves subdivided into industrial profits, bank profits, commercial profits etc.), interest and rent, which are all part of the total surplus product produced by wage labour. The capitalist mode of production thus presupposes that the producers' labour power has become a commodity. Like all other commodities, the commodity labour power has an exchange value and a use value. The use value of the labour power is precisely its capacity to create new value, including its potential to create more value than its own reproduction costs. Surplus-value is the difference between total new value created by the labour power, its own reproduction costs.
  2. Theory of ' Surplus value' The worker first transform his productive capacity or labour power as a commodity to sell in a specific market (the labour market) characterised by institutional inequality The capitalist has a choice post-phone his investment, but labourer do not has choice to post-phone his labour due need of survival and this condition made him sell his labour at lower price and agreed to detach with surplus value In the production process in which both man and Nature participate, and in which man of his own accord starts, regulates, and controls the material re-actions between himself and Nature. He develops his slumbering powers and compels them to act in obedience to his sway. He not only effects a change of form in the material on which he works, but he also realizes a purpose of his own that gives the law to his modus operandi, and to which he must subordinate his will. The elementary factors of the labour-process are 1, the personal activity of man, i.e., work itself, 2, the subject of that work, and 3, its instruments.
  3. Theory of ' Surplus value' All raw material is the subject of labour, but not every subject of labour is raw material: it can only become so, after it has undergone some alteration by means of labour. The instruments of labour are used for directly transferring labour to its subject, and which therefore, in one way or another, serve as conductors of activity The labour-process, exhibits two characteristic phenomena. First, the labourer works under the control of the capitalist to whom his labour belongs; Secondly, the product is the property of the capitalist and not that of the labourer, its immediate producer. In the labour process, two conditions must nevertheless be fulfilled. First, Value is independent of the particular use-value by which it is borne. Secondly, the time occupied in the labour of production must not exceed the time really necessary under the given social conditions of the case. The surplus value generates each and every stage of production process like production of cotton, spindle, yarn, spinning, and making cloth and owned by the owners of each and every stage.
  4. Production of ' Surplus value' At each and every stage of production process, the social necessary labour produces commodity value on one hand and labour power produces surplus value on the other The rate of surplus value also depends on the mobility of the labour. Marx viewed that if there is factor mobility, the labour can move from lower wage industries to higher wage industries to equalize the rate of wage. And the general rate of surplus value also may get equal value during a course of time. But it is not easy like the producer. The value of any commodity in the capitalist economy can be broken down into three parts; the value generate by the constant capital (c), the value generate by the variable capital (v) and the value generate by the labour (s) and this can be wrote as c + v + s = Total value The rate of surplus value is s/v = s* The rate of capital value is c/c+v = C* The rate of profit value is s/c+v=r* The surplus value increases due to either extension of working day or lowering the real wage or increasing productivity of labour and vice-versa.
  5. The components of ' Surplus value' If the surplus value increases due to increasing working day it is 'absolute surplus value'. If the real wage or productivity decreases, it leads to decrease in the necessary labour and results in the production of relative surplus value. The magnitude of the rate of surplus depends on the three elements; the length of the working day, the quantity of commodities entering into the real wage and productiveness of the labour.
  6. Topics for Assignments Changes in Mode of production, production relations and production instruments in different economic systems Interpretation of the value of commodity as use value and exchange value in Marxian point of view Interpretation of value of commodity in terms of Socially Necessary labour time and surplus labour time Understanding socially necessary labour time as Abstract labour time and concrete labour time Historical materialism Dialectical Materialism Fetish nature of the commodity The concept of reserve army Marx Theory of surplus value The consequences of division of labour (alienation and physical living standard of labourer) Relationship between value of the commodity and value of the labour power
  7. The components of ' Surplus value' Understanding class relations through Circulating process of capital as equilent exchangeable value and non-equilent exchangeable value Marx Interpretation of production and exchange processes in natural economic systems (C-M-C*) or Transformation of Commodity (production process) into Money (exchange process) Marx Interpretation of production and exchange processes in the capitalist economic system (M-C-M*) or Transformation of Money (capital) into commodity (Production process) and into again money (exchange process)

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