" Human labour power is a unique commodity in that it produces surplus value – the amount of value that goes to the capitalist after the worker has been ‘paid’ for the part of the day that equates to the amount they and their family need to live on. The working day is split into two parts: necessary labour time and surplus labour time. Necessary labour time is the time it takes the worker (on average) to produce enough value to buy the commodities they need to reproduce themselves, ie to stay what is socially considered healthy enough to continue working. Surplus labour time is the time the worker works beyond necessary labour time. Since the going rate for labour power is necessary labour time, surplus labour time is surplus value that goes to the capitalist, realised through the sale of the commodities workers produce. For example: a worker in a toy factory is paid £10 a day to work 10 hours; she produces 10 toys a day, and a toy is worth £10 each. The capitalist is only paying the worker for her ability to work one hour each day to produce enough value to reproduce herself (one toy = one hour’s labour = £10). Her necessary labour time is one hour, and her surplus labour time that goes to the capitalist is nine hours. If the worker needs £10 a day to reproduce herself, then that £10 is the value of her labour power. If the capitalist cuts the daily wage below £10, he has pushed the wage below the value of labour power. (Indeed, struggles for better wages are usually struggles to push them back up to the proper value of labour power.) The price of labour power is determined like the price of any other commodity – on average, the cost of its production, ie necessary labour time. But if commodities are sold for the cost of their production then how does the capitalist make any profit? The capitalist purchases the worker’s human labour power – the ability to work – but, uniquely, always ends up with more than the amount it cost to purchase the commodity. The wage obscures the fact that the capitalist has only paid for necessary labour time. (Marx calls the social relations that are concealed by economic relations commodity fetishism.) Profit then is essentially unpaid labour. Wage labour is – especially for the poorest workers whose daily subsistence depends exclusively on the sale of their labour-power – wage-slavery. Marx’s investigations led him to realise that his analysis of capitalism must start with the commodity, since capitalism “presents itself as an immense accumulation of commodities”.[66] What all commodities have in common is that they are all exchangeable – they all possess exchange-value. And as they are all products of labour, what they all have in common which gives them this exchange-value is general human labour in the abstract. Therefore, the total value of all commodities is determined by total socially necessary labour time – how long they took to produce. (The socially necessary labour time of each finished product includes that of each component that goes into it.) "
― , Socialism or Extinction: Climate, Automation and War in the Final Capitalist Breakdown
![quote : Human labour power is a unique commodity in that it produces surplus value – the amount of value that goes to the capitalist after the worker has been ‘paid’ for the part of the day that equates to the amount they and their family need to live on. The working day is split into two parts: necessary labour time and surplus labour time. Necessary labour time is the time it takes the worker (on average) to produce enough value to buy the commodities they need to reproduce themselves, ie to stay what is socially considered healthy enough to continue working. Surplus labour time is the time the worker works beyond necessary labour time. Since the going rate for labour power is necessary labour time, surplus labour time is surplus value that goes to the capitalist, realised through the sale of the commodities workers produce. For example: a worker in a toy factory is paid £10 a day to work 10 hours; she produces 10 toys a day, and a toy is worth £10 each. The capitalist is only paying the worker for her ability to work one hour each day to produce enough value to reproduce herself (one toy = one hour’s labour = £10). Her necessary labour time is one hour, and her surplus labour time that goes to the capitalist is nine hours. If the worker needs £10 a day to reproduce herself, then that £10 is the value of her labour power. If the capitalist cuts the daily wage below £10, he has pushed the wage below the value of labour power. (Indeed, struggles for better wages are usually struggles to push them back up to the proper value of labour power.) The price of labour power is determined like the price of any other commodity – on average, the cost of its production, ie necessary labour time. But if commodities are sold for the cost of their production then how does the capitalist make any profit? The capitalist purchases the worker’s human labour power – the ability to work – but, uniquely, always ends up with more than the amount it cost to purchase the commodity. The wage obscures the fact that the capitalist has only paid for necessary labour time. (Marx calls the social relations that are concealed by economic relations commodity fetishism.) Profit then is essentially unpaid labour. Wage labour is – especially for the poorest workers whose daily subsistence depends exclusively on the sale of their labour-power – wage-slavery. Marx’s investigations led him to realise that his analysis of capitalism must start with the commodity, since capitalism “presents itself as an immense accumulation of commodities”.[66] What all commodities have in common is that they are all exchangeable – they all possess exchange-value. And as they are all products of labour, what they all have in common which gives them this exchange-value is general human labour in the abstract. Therefore, the total value of all commodities is determined by total socially necessary labour time – how long they took to produce. (The socially necessary labour time of each finished product includes that of each component that goes into it.)](/image/2869997.jpg)