Aayushi BansalAIR 7 · CSE 2024 · 166 wordsTheir whole copy
Opening
Marx believed in supremacy of labour over capital influenced by economists like Adam Smith & Ricardo.
Body · continuous prose
As per Marx, capital & commodities have no separate value of own. Only after labour transforms nature, things become usable. What exists in imagination is objectified by labour.
Labour is part of one's 'being', is creative & inherent to human nature. However, labour is commoditised in capitalism.
Value of labour generates surplus which is appropriated by capitalist as profit by paying less wages than labour's worth.
Labour is also necessary for human existence not just because it creates commodities of use value for sustenance but also because it shows the real part of self. One realizes & transforms oneself in process of labour.
However, this is perverted as 'alienation' when labour is reduced to means to earn wages.
This idea is critiqued due to importance of technology & capital as well in generating wealth apart from labour.
Close · a summary
Marx's idea of 'being & labour' added a human agent to his theory.