| This question <63|49> overall <38|40> Ames: <1|144>. |
| Question 96: The value of the product is determined by the socially necessary labor-time. What are the implications of this for a capitalist supervising his employees? |
| [39] Ames: socially necessary labor-time and the capitalist. The value of a product depends on the socially necessary labor-time needed to create the product. When more labor-time, on average, is spent on producing a product, that product has greater value. When less labor time, on average, is spent producing a product, that product has lesser value. Furthermore, if the socially necessary labor time stays the same, the product's value also remains unchanged. |
| So, a capitalist can manipulate the idea of socially necessary labor-time to make profits. Let us look at producing pencils as an example: |
| The capitalist hires pencil-makers who exert labor-power greater than average in terms of skill and intensity. These pencil-makers are willing to accept the average wage for making pencils. Because these employees spend less labor-time making pencils, they can make more than their competitors in a given amount of time. However, pencils still hold the same value and sell at the same price, because the socially necessary labor-time required to produce it is still the same. As a superviser, the capitalist makes sure that his/her particular pencil-makers work faster than what is considered socially average. Perhaps these pencil-makers just happen to be more skilled than the average pencil-maker. The capitalist also profits if he/she finds a more technologically advanced way to produce pencils. More pencils will be made in a given amount of time, so the capitalist has more to sell or exchange, while the value of pencils remains unchanged. |
| Since the value of a product is determined by the socially necessary labor-time, and the capitalist employs workers who create the product using less than the socially necessary labor-time, the capitalist evidently has the potential to produce more using less time. Also, the capitalist does not pay employees any more than if they were employed by any other capitalist. The capitalist therefore profits. This is only the case if the socially necessary labor-time for the product stays the same, that is, if the value of the product stays the same. |
| Over time, more producers may discover that the product can be produced using less labor-time. The value of that product decreases because less socially necessary labor-time goes into its production. This means that although the workers are more efficient (they produce the same product using less labor-time), the value of the product decreases because less labor-time is needed to produce it. In the meantime, the capitalist gains profits if he/she employs the most efficient workers out of a pool of socially average workers. |
| Hans: It is not easy for an individual capitalist to induce his workers to work harder than those employed by other capitalists for a same wage. |
| Nevertheless, your point is correct that the capitalists try to lower the labor content of their commodities below the socially necessary labor-time. |
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