Tag Archives: theories of surplus value

Socially Ambivalent Labour Time III: Theories of Surplus Value, chapter 7 and addenda to part 1 In an earlier post, I mentioned that in chapter seven of TSV Marx explicitly excluded William Godwin from his historical review of theories of surplus value: In accordance with the plan of my work socialist and communist writers are entirely excluded from the historical reviews. These reviews are only intended to show on the one hand in what form the...

Socially Ambivalent Labour Time II: Theories of Surplus Value, chapter four In chapter four of TSV, Marx discusses two (or possibly three?) aspects of socially necessary labour time: the devaluation of labour and commodities produced under less efficient methods, and the fall in value of commodities when more have been produced than there is demand for. Note that pursuit of greater efficiency through economies of scale (see underlining) risks...