Why Wage Labour Is Theft | The Extraction Of Surplus Labour Value

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[SolarBeingAsh]

This was extremely well-put and easy to understand! Thank you for sharing!

[Charlitics]

this was very interesting, and straight to the point; you have amazing narration skills. the visual support is also pretty helpful, something I need to improve on myself haha

glad to have discovered your channel, I hope you succeed in your endeavours :)

[Izkapts]

In that sheep example, what is the value of an individual's body and life? If they're not human, is it moral to use them as a commodity?

[renevelation]

wage labor is not theft. It is however robbery.

[rainerlippert]

There is something wrong with the LTV!
But independent from this – surplus value was/is necessary in the Antiquity, the Middle Ages, socialism, capitalism...

The LTV assumes that the value is created with the production.
But that is wrong!
Marx describes the formation of value with the formula
W = c + v + s.
But on the production side of commodity society there is still no surplus value. There is only one expected surplus value there.
Even if an "s" were handed down from heaven to an entrepreneur, that would not be an surplus value, since this money would initially replace part of the production costs. For any real surplus value, heaven would first have to fully replace the cost c + v and then pay even more.
But that won't happen.

Only a buyer on the market can pay for the real surplus value.
Since the surplus value is part of the value, the value is only formed on the market. There it is assigned to both the goods and the value equivalent.
One can only produce the prerequisites for value and surplus value, but not these themselves.

[ExPwner]

“Surplus labor value” does not exist. Value cannot be objectively calculated because value is subjective. Marx has been debunked entirely. Not only do you have the transformation problem but you also have the diamond-water paradox. Your valuation of diamonds and water have nothing to do with how much labor went into it. If yo are dying of thirst you want water and would trade diamonds for water.

Bohm Bawerk also debunked this.

[saswatabiswas]

Problem of communism is it over simplifies economy and repudiate role of capital . According to them Capital can be taken as granted .In modern era without investment labour is nothing.If you don't agree try or accumulate and invest capital make by your own labour make value .You will be using materials (capital) but don't acknowledge it's importance of value creation Thats main flaw of communism .That's the main reason almost entire world dumped communism.What is actual power of capitalism you will get to know bif you look chinas growth.Being communist country they dumped old stoneage communist idea and allowed free market and rest is needles to say