Impact of Rising Productivity on the Value of Labor Power

The chapter explores how increasing productivity decreases the value of labor power, leading to a decrease in the unit value of commodities. It delves into the determination of the value of labor power, emphasizing the relationship between the bundle of commodities in society and the means of subsistence. Additionally, it delves into the implications of a rising rate of exploitation and the historical context of American labor up to the 1970s.