Law of Value 5: Contradiction by Brendan M. Cooney

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brendanmcooney | August 20, 2010

This antagonism between the use value and exchange value of labor power expresses a social antagonism between capitalists and workers. Capitalists and workers have opposing interests. Workers want their means of subsistence: housing, food, clothes, beer. They want use-values. Capitalists aren’t interested in use-values. They are after exchange-value. They want to expand the size of their capital by making a profit. In order for either class to get what the want they need the other. The workers must sell themselves for a wage in order to survive. The capitalist must hire workers in order to exploit them for profits. Yet despite this codependence their interests are entirely antagonistic. The more the workers are paid in wages the less profit the capitalist makes. The more profit the capitalist makes the more impoverished the working class.

full text at Law of Value 5: Contradiction « Kapitalism101

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see

Law of Value 1: Introduction by Brendan M. Cooney

Law of Value 2: The Fetishism of Commodities by Brendan M. Cooney

Law of Value 3: Das MudPie by Brendan M. Cooney

Law of Value 4: Use-Value, Exchange Value, Value by Brendan M Cooney

Law of Value 6: Socially Necessary Labor Time by Brendan M. Cooney

Law of Value 7: Production and Exchange by Brendan M. Cooney

Law of Value 8: Subject/Object by Brendan M. Cooney

Law of Value 9: Abstract Labor by Brendan M. Cooney

Law of Value 10: Price and Value by Brendan M. Cooney

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