Your probably better of
December 2025 › Forums › General discussion › labour theory of value › Your probably better of
Your probably better of putting your questions about the videos to their maker Brendan Cooney at Kapitalism101.wordpress.com.However, that sentence doesn’t seem quite right. You’re right the goal of the worker is to get money to buy the things they need. However as far as the capitalist is concerned if private labour doesn’t become social labour then nothing of value has been produced and the money invested in production will be lost.The Marxian LTV does not imply that workers should ‘be the owners of ‘their’ social product at all. All it suggests is that the only thing that can expand the total amount of value in the economy is the surplus labour of the wage worker. Some socialists make a fuss about the fact that the worker does not receive the total value of their product, I do not think that this is a problem in itself – under a system of socialised production the worker would not receive the whole of their product either. The problem with capitalism is that is the law of value, the profit motive, and not human need that determines where and in what way resources and human labour power is used up.Not all wage workers produce value. Marx made the distinction between productive and unproductive labour. Most service sector jobs can be classified as ‘unproductive labour’ this is not to mean they are valuable to society but do not produce any new ‘value’ in the sense of the Marxian LTV.
