Labour-power is defined by Marx as, \u201c\u2026the aggregate of those mental and physical capabilities existing in a human being, which he exercises whenever he produces a use value of any description\u201d (pg. 48-49). While this concept may come freely to the reader, determining the value of said power is not as easily understood. Just as any other commodity, the value may be determined by the amount of time necessary for production. However, labour time is not the only factor at play when it comes to finding the value of labour-power. When thinking about labor, it must be known that this process is not a one-time venture, but rather, an on-going project. In this sense, the value of labour-power must be examined in four separate parts, all of which will be addressed in the ensuing text.<\/p>\n
Firstly, the labourer must be met with the essentials for subsistence. For if the labourer is not kept healthy enough to continue work day after day than his use-value to \u201cMr. Moneybags\u201d will terminate. Marx states, \u201cThe value of labor power is the value of the means of subsistence necessary for the maintenance of the labourer\u201d (pg. 50). Secondly, one must consider that the needs of the labourer will vary given the period and region that the two find themselves in. The conditions and level of civilization under which the class of labourers was formed must be recognized. \u201cIn contradistinction therefore to the case of other commodities, there enters into the determination of the value of labour-power a historical and moral element\u201d (pg. 50). Marx makes it clear that this historical and moral element is the second factor at play when determining the value of labour power.<\/p>\n
Thirdly, Marx makes visible the fact that no owner of labour-power is immortal. Therefore, \u201cMr. Moneybags\u201d must ackknowledge that not only is he affording the subsistence of the labourer, but also his offspring or \u201csubstitutes.\u201d Marx expresses that, \u201cThe labour-power withdrawn from the market by wear and tear and death, must be continually replaced by, at the very least, an equal amount of fresh labour-power\u201d (pg. 50). \u00a0Lastly, the labourer will need a certain level of training to successfully carry out the money owner\u2019s wishes. This amount is not fixed, similarly to the other components pertaining to the value of labour-power.<\/p>\n
In conclusion Marx asserts that the total means of subsistence equates to the value of labor-power. He wants the reader to understand that the commodities required to sustain daily production are not all needed at the same rate. Some aspects need only be completed once per labourer. For instance, the training they must undergo is a one-time expenditure. Other aspects like food and fuel need be given daily. While aspects like clothing and material items are given less frequently. Marx conveys, \u201cIf the total of the commodities required daily for production of labour-power = A, and those required weekly = B, and those required quarterly = C, and so on, the daily average of these commodities = (365A + 52B + 4C +&c.)\/365\u201d (pg. 51). In this, he is stating that the value of labour power can in fact be calculated to a definite amount yet only after carefully reviewing and accounting for the four separate parts discussed in this analysis of his essay.<\/p>\n
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Q: Does determining the value of labour power go beyond these four parts? Explain.<\/p>\n","protected":false},"excerpt":{"rendered":"
Labour-power is defined by Marx as, \u201c\u2026the aggregate of those mental and physical capabilities existing in a human being, which he exercises whenever he produces a use value of any description\u201d (pg. 48-49). While this concept may come freely to the reader, determining the value of said power is not as easily understood. Just as … Continue reading How is the value of Labour-power determined?<\/span>