Paralleled to Ricardo’s understanding of labor, Marx recognizes the same force in the production process which “is itself an embodiment of labor” as labor power, and identifies labor power as a commodity when it is available to be sold by “untrammeled” labors at their own disposal (II.VI.3). In Marx’s account, labors who could freely choose to work or not are actually selling their commodities of labor power to employers as they work for others. After setting up the idea of labor power as a commodity, Marx offers his definition of wages, advocating that “value and price of labor-power, present themselves in this transformed condition as wages” (Marx, VI.XIX.9). In Marx’s idea, labor power as a commodity requires a price for exchange of such to occur, and wage is the presentation of the value of labor power. When committing to work for money owners, labors receive wages for they have provided or sold their labor powers as commodities in exchange for money. Marx also explains, as same as Smith did, that the exchange for labor power between labors and money owners could happen only if the two parties with equal rights reach mutual agreement on the price of labor power, and there exists a steady level of wages that could satisfy both workers and businessmen and last
Paralleled to Ricardo’s understanding of labor, Marx recognizes the same force in the production process which “is itself an embodiment of labor” as labor power, and identifies labor power as a commodity when it is available to be sold by “untrammeled” labors at their own disposal (II.VI.3). In Marx’s account, labors who could freely choose to work or not are actually selling their commodities of labor power to employers as they work for others. After setting up the idea of labor power as a commodity, Marx offers his definition of wages, advocating that “value and price of labor-power, present themselves in this transformed condition as wages” (Marx, VI.XIX.9). In Marx’s idea, labor power as a commodity requires a price for exchange of such to occur, and wage is the presentation of the value of labor power. When committing to work for money owners, labors receive wages for they have provided or sold their labor powers as commodities in exchange for money. Marx also explains, as same as Smith did, that the exchange for labor power between labors and money owners could happen only if the two parties with equal rights reach mutual agreement on the price of labor power, and there exists a steady level of wages that could satisfy both workers and businessmen and last