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Marxist labor theory explores the relationship between labor and value in capitalist societies, highlighting how the proletariat's labor is exploited by the bourgeoisie. It delves into the labor theory of value, which posits that a commodity's worth is determined by the necessary labor time for its production. The theory also examines surplus value and the resulting profit for capitalists, as well as Braverman's analysis of monopoly capital and the impact on the workforce.
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The bourgeoisie controls the means of production and distribution of resources in capitalist societies
The proletariat is exploited by the bourgeoisie through the sale of their labor power
Marxist theory examines the relationship between the bourgeoisie and proletariat in capitalist societies
Marx's commodity theory states that the wealth of capitalist societies is represented by the commodities produced
Labor is viewed as a commodity with use-value and exchange value in capitalist societies
The labor theory of value proposes that the value of a commodity is determined by the socially necessary labor time required for its production
The surplus value generated by workers' labor is appropriated by capitalists as profit, resulting in exploitation
Critics argue that the labor theory of value does not adequately consider market demand and other factors that contribute to commodity prices
Braverman's analysis highlights the increased managerial control and deskilling of the workforce in capitalist societies, leading to lower wages and increased profits for capitalists
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Means of production control
Bourgeoisie owns production means, dictating labor conditions and resource distribution.
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Commodity value basis
Value tied to labor time; more labor equals more value.
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Proletariat's labor power
Workers sell labor power to survive, producing commodities for capitalist profit.
