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Why Theory

Surplus Value

Sep 2, 2023
Unpacking Marx's concept of surplus value and its role in capitalist society, including its relationship to profit. Examining the disparity between labor value and wages, as well as the exploitation of workers in various sectors. Discussing the lack of customer service and exploitation of workers by companies like Spectrum and Netflix. Exploring the significance of surplus value in capitalism and its translation into profit. Analyzing scenes from a film and discussing mental production. Discussing the limitations of Marx's theory and the idea that for a theory to be valid, it should include a place for the theorist themselves.
01:18:58

Podcast summary created with Snipd AI

Quick takeaways

  • Surplus value refers to the labor and value produced beyond what is necessary, constituting exploited labor.
  • Capitalism maximizes surplus labor to appropriate surplus value, distinct from profit and price.

Deep dives

The Concept of Surplus Value

Marx introduces the concept of surplus value, which refers to the labor and value produced beyond what is necessary for the reproduction of workers and capitalists. This surplus labor constitutes surplus value. Marx distinguishes surplus value from profit and price, emphasizing that surplus value is the result of exploited labor.

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