Marxism: Surplus Value

The concept of surplus value is a central pillar in Marx's critique of capitalism and is crucial for understanding his theory of exploitation. Surplus value refers to the difference between the value produced by labor and the actual wage paid to the laborer. This concept is essential in Marxist economics as it explains the source of profits in a capitalist system and is closely tied to the theory of exploitation, where workers are paid less than the value they produce.

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