marx and marxism
2. First noted by John Locke in his Second Treatise on Government, labor is a source of value. Stated simply, the work a person does is worth money or a wage. This is a fundamental, arguably the fundamental principle, in the capitalist economic system. Most critics of the system argue capitalism exploits the worker because he is not paid and cannot be paid the full value of his labor, because this is the profit for the capitalist or employer. In describing a utopian capitalist world, Robert Heilbroner writes, "The laborer who contracts to work can ask only for a wage that is his due. What that wage will be depends . . . on the amount of labor time it takes to keep a man alive." (157) However, for profit to exist for the capitalist or employer, the worker must work for longer than just his subsistence for the same wage. This, what Marx calls, surplus value
In this effort to perpetuate his despotism he has had the effectual assistance of his own system and the sharp competition that keep the men on starvation wages" (140) Riis' description of an early capitalist, "the sweater of Jewtown" thus highlights the problem. According to the Department of Labor, 40% of those who earn a minimum wage are the sole provider for their families, which would place them under the poverty level. The results are obvious yet striking. Even with the advent of the "minimum wage" the problem still exists today. The text How the Other Half Lives by Jacob Riis will serve as evidence of the consequences of lack regulation of the wages and the workday in early capitalism, as well as help to demonstrate how the same reality exists today for many. " In unregulated capitalism, there is no structure in place to limit the exploitation of the worker. In the days of laissez-faire capitalism, the capitalist could and would keep the worker on "starvation wages. The capitalist world that Heilbroner describes does not exist. " Many capitalists contend if one works hard, one will get ahead. (152) This says nothing of food, clothing, and other necessary expenditures. Riis describes a family of cigarmakers earning $11. However, what I have just described is the utopia of capitalism, at least for the worker and leads into what may be the "single worst consequence" of the failure of government regulation during early capitalism and today, a failure to regulate the workday and enforce a living wage. However, in the day of unregulated capitalism, working more hours does not mean overtime, often just creates more "surplus value," more profit to the employer.
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Acceptance Essays
