The Labor Theory of Value and Surplus Value

This chapter discusses the labor theory of value and surplus labor in relation to the concept of surplus value. The speaker emphasizes that the difference in material cost or the number of people performing a job is not what interests Marx. Instead, Marx focuses on the compensation for the speed of production compared to what the workers are actually compensated. The speaker also mentions an appendix section in the English translation of Capital Volume One that discusses surplus value as a compulsion. Overall, the chapter explores the idea that the extraction of surplus value is the primary goal of capitalists.