Kitskits
19th August 2008, 13:20
I have been studying this site's ( http://www.oneparty.co.uk/html/marxism/Cl2.html ) classes on Marxism and I can't understand how the value of Labour power is determined in the same way the value of any other commodity is determined.
"As in the case of other commodities, the amount of socially necessary labour time involved in its production, that is, the value of the commodities required to produce, maintain and reproduce it."
I can't understand the second half of this phrase after "that is" because I don't actually know how the value of those commodities required to produce, maintain and reproduce it (the labour power) is the same as the socially necessary labour time involved in its (the labour power's) production.
Thank you for your help.
"As in the case of other commodities, the amount of socially necessary labour time involved in its production, that is, the value of the commodities required to produce, maintain and reproduce it."
I can't understand the second half of this phrase after "that is" because I don't actually know how the value of those commodities required to produce, maintain and reproduce it (the labour power) is the same as the socially necessary labour time involved in its (the labour power's) production.
Thank you for your help.