Surplus value

which Marx called absolute surplus value, or by increasing the productivity of the contractors through technological improvements to the means of production, or relative surplus value. Instead, the bourgeoisie must extract surplus value from the contractors of the sharing economy in a new way. As discussed already, ownership of the property used in generating profits is not the defining boundary between classes. Rather, the criteria for being part of the bourgeoisie in the sharing economy is ownership of the platforms on which individuals contract their services to one another. Surplus value is extracted as a premium for access to the platforms, or marketplaces, which coordinate the buying and selling of services. Labor is still formally free, as it must be in a capitalist economy, as individuals are by no means compelled to sell their labor on any of these platforms. However, the bourgeoisie have come to own the marketplace for labor itself, so that whatever choice to sell her labor an individual makes occurs under the conditions set by capitalist market ownership. The capitalists therefore can extract…

of expanding growth. 1.B. Karl Marx describes on how capitalism’s competitive race for productivity becomes this self destructed race to the bottom. Suppose, one firm, out of twenty firms, in an industry achieves a technological advancement that reduces the labor-time needed to produce an output by 10%. The firm’s value per output also decreases by 10%, which can lead to the output being sold under the overall market price. The product is sold under the market price easily since it’s value is…

international diplomacy, and increased telecommunications; which can be summed up as a process called globalization. By these means, here has also come several externalities which were outlined by Karl Marx, in such a manner that there is allusion to his society in his manifesto. The current trading systems available with Globalization will drive the capitalist system into a more Marxist manner due to more stagnating economies of scale among firms, redevelopment of the utility and production of…

nothing without nature, without the sensuous world. It is the material on which labor is manifested, which it is active, from which and by means of which it produces.” (Manuscripts, Pg. 72) Marx’s concern is how we can behave in correlation to each other and to nature, as well as how we metamorphose our way of life using nature. Marx says, “but, just as in the beginning, the only participators in the labor process were man and the earth, which latter exists independently of man, so even now we…

Marx’s view on capitalism is that it would sooner or later ruin the working class or laborer which would create the social condition for rebellion. His view was based on the means in which production and distribution is created through the means of worker. The workers exchange their value for a wage to private owners which in return pay them a wage for their time producing something. As Marx writes: “whenever, by an exchange, we equate as values our different products, by that very act, we also…

of two different types of capital. The first type of capital is called constant capital. This includes all that is used in the production and sale of goods and services e.g., factories, land, tools, and raw materials. The second type of capital is variable capital which is labor. Variable capital can be split further into what Marx refers to a necessary and surplus labor. Necessary labor is the amount of labor required to produce a worker’s wages. It is the second type of labor, however, that is…

As per Marx, commodities have value, representing their intrinsic utility as well as a quantity of human labor related to the given commodities. A thing can have a use value, which “being limited by the physical properties of the commodity, has no existence apart from that commodity,” and an exchange value, “the proportion in which values in use of one sort are exchanged for those of another sort.” While an object’s use value does not fluctuate significantly, its exchange value is relative –…

Karl Marx, a theorist who examined the societal values and orders, ultimately came to the conclusion that human history was composed of a level of struggles between different classes. The main motivator for humans is “historical materialism” which is associated with wealth, gain, and resources. Marx believed that when factories were created with no progress and investment, the workers just ended up getting poorer and poorer until there was no incentive to work. To fix this problem, Marx came up…

was a German doctor of Philosophy. Adam Smith who was a Scottish moral philosopher developed a similar theory. The theories differ in the way they perceive labor value. Smith’s theory has a clear argument on capital accumulation such as his explanation for unproductive/productive labor in comparison to Marx. Marx’s explanation of productive labor, critique of abstinence theory, exploitation, and the so-called labor fund is less effective. Adam Smith was considered to be the father of economics.…

contemporary society is about eight hours, five days a week. When performing the same activities daily , workers become alienated with his species being. Grilling a burger or cleaning tables all day does not allow for the worker to exercise their creative nature. Finally alienation is seen in today 's society because workers according to Marx, becomes alienated from humanity as a whole. “ the proposition that man 's species nature is estranged from him means that one man is estranged from the…