The employer can make use of labour power so long that it not only
creates its own exchange value (the value of the means of
subsistence), but double this. To create the value of wages, the
worker needs five or six hours daily, but he is obliged to produce for
the capitalist during ten or twelve hours. If the worker were
independent he would only produce during one half of the working day
in order to receive his means of subsistence. This period of producing
Marx called "necessary labour." As he is dependent on the capitalist,
the worker must not only perform "necessary labour" but also surplus
labour: the worker can generally only find employment under the
conditions that, besides the time needed for himself, he also works a
definite number of hours for the capitalist without payment. Or, as
Marx says: "The fact that half a day's labour is necessary to keep the
labourer alive during the 24 hours, does not in any way prevent him
from working the whole day. Therefore, the value of labour power and
the value which labour creates in the labour process are two entirely
different magnitudes. And this difference in the two values was what
the capitalist had in view when he was purchasing labour power. The
circumstance that on the one hand the daily sustenance of labour power
costs only half a day's labour, while on the other hand the very same
labour power can work during a whole day; that consequently the value
which its use during one day creates is double what he pays for that
use, this circumstance is, without doubt, a piece of good luck for the
buyer, but by no means an injury to the seller."
"No injury to the seller," which is quite correct from the standpoint
of Ricardo, but not from that of Marx. He often calls surplus value
"unpaid labour," and says, for example, "the capitalist appropriates
one half of every day's labour without payment." In other words, he
takes away something without return. This is a very distinct ethical
judgment.
On the other hand, it is very important that in our consideration of
the wages question we have come up against the Marxian doctrine of
surplus value. For this doctrine is the cornerstone of the whole
economic system of Marx.
4. _Surplus Value._
We have already noted that Marx followed the classical economics in
his treatment of the theory of value, but improved the definition of
it, and brought it to bear on wages. In doing this he laid stress on
the conflict between Capital and Labour.
The beginning of this dialectical process, so far as England was
concerned, was the work of the anti-capitalistic critics, who uttered
their protest about 1820, or three years after the appearance of
Ricardo's work. They declared, according to Ricardo, labour is the
source and the measure of value. And yet according to his opinion
labour is nothing and capital everything.
Public-domain text, read in full here on John Shaqi.
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