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Absolute vs. Relative Surplus Value
- Marx differentiates absolute surplus value (amount extracted) from relative surplus value (proportion between surplus and necessary labor).
- Increasing relative surplus value means increasing surplus labor time and decreasing necessary labor time.
Increasing Surplus Value
- Absolute surplus value increases by lengthening the workday, leading to more surplus labor hours.
- Relative surplus value is influenced by factors like machinery, which increases worker productivity.
Impact of Cheaper Goods
- Cheaper goods decrease necessary labor time, allowing capitalists to lower wages and increase exploitation.
- This intensifies the extraction of surplus value, maximizing profits.