Marx's discussion of socially necessary labour time in Chapter 20 of Theories of Surplus Value is notable for the fact that it comes immediately before Chapter 21, where he doesn't mention socially necessary labour time (but the concept lingers just below the surface in the latter chapter). He talked about how piece-work is actually a kind of time work in which the piece rate is set according to expectations of how many pieces can be made in a designated period of time.Once again Marx reiterated the notion of value being measured in terms of abstract labour: simple, uniform, average labour. "That the quantity of labour embodied in a commodity is the quantity socially necessary for its production -- the labour-time being thus necessary labour-time -- is a definition which concerns only the
Topics:
Sandwichman considers the following as important:
This could be interesting, too:
Lars Pålsson Syll writes Monte Carlo simulation explained (student stuff)
Mike Norman writes Corporate buybacks
Mike Norman writes Month end settlements
Angry Bear writes Biden finalizes rule opening up Obamacare to DACA recipients
Marx's discussion of socially necessary labour time in Chapter 20 of Theories of Surplus Value is notable for the fact that it comes immediately before Chapter 21, where he doesn't mention socially necessary labour time (but the concept lingers just below the surface in the latter chapter). He talked about how piece-work is actually a kind of time work in which the piece rate is set according to expectations of how many pieces can be made in a designated period of time.
Once again Marx reiterated the notion of value being measured in terms of abstract labour: simple, uniform, average labour. "That the quantity of labour embodied in a commodity is the quantity socially necessary for its production -- the labour-time being thus necessary labour-time -- is a definition which concerns only the magnitude of value.