Labor Power

My third video of my series on Capital by Karl Marx. This one deals with Labor Power, particularly Labor Power as a Commodity.

[tzuyuoutsold]

requirements for a commodity:
- use value (does it satisfy human want)
- exchange value (does it have value to be exchanged)

the laborer must be free
1. free to dispose his own labor power
2. has no other commodity to sell other then his labor power


when mr money bags/ a capitalist purchases labor, he can’t tell how much the labor can do and work with an accurate measure. but labor power is the capacity to work, it’s the labor that could possibly be done in the future, potential labor



means of production - sort of an umbrella term, means of production can be
- The place labor power is being used IN
- Subjects of labor ( raw material would be a subject, raw material like cotton, leather, cocoa )
- instruments of labor/means of labor such as tools like hammers, drills, sewing machines

value of labor power = capacity to work

labor power is paid by how much u need to live and reproduce
if you need 1 dollar to eat, 1 dollar to drink, 2 dollars for food and shelter your labor power will be paid with 4 dollars in return

capacity to work:
- needs to be alive
- has means of life and is able to
- needs to be in good enough shape to work and continue working