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What is residual value? What is the origin, meaning and nature of surplus value? What is the original value of the Excess Value theory?

Surplus is a popular economic term, but not everyone understands its meaning and nature.

What is residual value?

Surplus value (surplus value) is the difference between the value of the finished product and the investment level. This is a concept exemplified by D. Ricardo by imagining paying landowners a share of the profits from fertile plots of land.

Marx studied residual value based on the concept of labor attrition, in which workers create value beyond the wages paid to them – wages just enough to sustain their existence. Marx argued that the exploitation of workers can only be eliminated when the capitalists pay the workers the full amount of the newly created value.

According to A. Marshall, from an intrinsic point of view, all accounts entered over factor premiums are considered short-term short-term sales. Therefore, he argued that in the absence of another opportunity for a factor product to choose from, the entire reward given to it would be considered surplus value.

There are currently two main methods to obtain residual residual values:

• Method of producing absolute residual value.
• Method of producing residual residual value.

Method of producing absolute residual value:

This is a method of producing surplus value by prolonging redundant labor time when labor productivity, labor value and labor time are necessarily constant.

Absolute surplus value is the excess value generated from prolonging the working day beyond the necessary labor limit. The working day is prolonged and the required design labor time does not convert to the increased redundant labor time. The method of producing absolute surplus value is to prolong the surplus labor time when productivity, value, and necessary labor time remain constant. The general basis of the private regime means that the product creates absolute residual value.

Absolute residual value production method, commonly used in the early stages of capitalism. This is a time when labor is still at a manual level and labor productivity is still low. At this time, with limitless greed, the capitalists tried every trick to prolong the working day to increase their ability to exploit the labor of hired workers.

However, human strength is limited. Furthermore, because workers fought against the decision to shorten the working time, the consultants could not extend the working time indefinitely. But the working day cannot be shortened by weak working time. Another form of production method that creates absolute surplus value is labor intensification. Because the increase in labor intensity is similar to the lengthening of the working time in a day, but the required labor time does not change.

Method of producing residual residual value:

A method of production of residual value that shortens the necessary labor time by lowering the value of labor power, thereby increasing the surplus labor time under the conditions of the working day, constant labor intensity.

The relative surplus value is the excess value drawn from the inevitable shortening of labor time on the basis of increasing labor productivity. Increasing the productivity of social labor, which is the first product of the production of large consumer goods, reduces the value of labor power. From there, the required labor time is also reduced. When the constant labor time is long, the necessary labor time increases the residual labor time (the time that produces relative residual value for the capitalist).

The method of producing relative residual value is to shorten the necessary labor time by lowering the value of labor power. Thereby increasing surplus labor time under constant working conditions and labor intensity.

Super surplus value:

This is the excess value made for enterprises producing surplus value lower than the social value, when selling goods according to social value, will obtain some excess value that is superior to other products. other enterprise. Super deficit surplus value = Social value of goods – Individual value of goods. Super residual value is a distorted form of relative residual value; is a direct motivation to promote labor capacity.

Because they want to capture a lot of excess value and use competitive advantage, capitalists apply technological advances to manufactured products. The goal is to improve and perfect economic management methods and increase labor productivity. As a result, the value of commodification is lower than the social value. The capitalist who applies this method, when sold, will gain some excess value more than other capitalists.

Super surplus value is the excess value that exceeds the normal surplus value of society. If we test each publisher individually, the super excess value is a temporary phenomenon. However, in terms of capitalist society as a whole, super surplus value is a permanent phenomenon. Therefore, the surplus value is the most powerful driving force for capitalists to improve technology and increase labor productivity.

Both the relative surplus and the super surplus are based on increased labor productivity. However, both different ways have relative surplus values ​​based on increasing social labor productivity. When super surplus production is based on increasing labor productivity.

The theory of residual value is considered the second most important invention after Marx’s historical materialist argument. So what is residual value? Basically, residual value is a reflection of the basic economic law of capitalism. The generation and appropriation of excess value is a relational substance in the product of capitalist production (the exploitative relationship of the capitalist with the wage worker).

Currently, there are many different concepts of residual value. However, you can understand it in a simple way as follows.

“Excess value is the value produced by hired workers that exceeds the value of their labor power, but which is the capitalist who takes all the money. For production activities, capitalists must spend on means of production and purchase labor power. The spending goal is the goal of getting some money out of the money they spent in the production process. The amount of money taken out is the surplus value.

Thus, the part of the value that goes beyond the value of labor created by employees and used up by the capitalist is called residual value.

Residual value is studied from the perspective of labor. Where artificial work creates more value than the cost paid to them. This is a factor regulated by the minimum wage, which is only enough for them to live as workers. For Marx, the exploitation of labor can only be eliminated when the capitalist pays them the full amount of the newly created value.

What is the origin of residual value?

To carry out production, capitalists must purchase labor and means of production. Since the means of production and labor power are purchased by the capitalist, in the production process the worker works under the control of the capitalist and the resulting product belongs to the capitalist.

Capitalist production is the process of creating added value for the capitalist when the productivity of labor reaches a certain level – it only takes a fraction of the labor day that the wage worker creates value equal to the price. manage your own labor.

Through their concrete labor, workers use capital production products and convert their value into products; and by material labor the worker creates new value greater than the value of valuable labor, the greater part of which is called surplus value.

The commodified value (W) produced consists of two parts: the value of manufactured products that have had value that concrete labor exists and transferred to the product (old value, symbol c) and new value (v+m) created by the worker’s symbolic labor (greater than the value of the labor commodity).

The new value created by labor in addition to the commodified value of labor, which is taken by the capitalist without paying the worker, is called surplus value (m). Thus, living labor is the source of creating residual value.

What is the meaning and nature of surplus value?

From our work researching Karl Marx’s Theory of Surplus Value, we have identified at least three major problems in the country’s current development stage.

Firstly, during the period of economic transition in our country, to a certain extent, exploitative relations cannot be immediately erased or cleaned up according to the old dogmatic and sclerotic approach. The more we develop a multi-sector economy, the more clearly we see that as long as exploitative relations still have activities to liberate production power and provide productive forces for development, then we still have to accept accept the truth of its presence.

Second, in the reality of the socialist-oriented market economy in our country today, all methods seek to speed up the circuit, machinery and hardening of the speed of exploitation in the work progress of the owners. Policy ownership, as well as analysis of attitudes towards new business classes, are far from reality and cannot be implemented. What is more convincing today is that the distribution relationship must be institutionalized by law.

Whenever the Party and State’s policy accounts are institutionalized into laws and codes, advice on building a socialist legal house and laws serve as tools and bases to regulate social behavior. society in general, but also exploitative behavior in particular. Those who comply with the law will be recognized and honored by society according to the motto: rich people, strong country, fair, democratic and civilized society.

In perception, the general view should be considered that this is also the level of exploitation that is accepted by society, that is, legal enrichment. In social management, it is necessary to strictly control personal income and corporate income to, on the one hand, prevent tax loss, and on the other hand, ensure fairness in distribution through the State and by ” channel” ” redistributes and collects social information. I think that this is a guide to approaching the issue of exploitation that helps us avoid formulaic and non-dialectical ways of writing about exploitation relationships, as well as applying them to a specific historical period of the industry. resolving production capacity, creating motivation for economic development and proactively integrating successfully with the international economy.

Third, on the other hand, we must also protect the legitimate rights of both workers and employers through laws and specific sanctions to ensure openness, transparency and sustainability. Consistency of interests in the process of using labor is a reality, how to handle the characteristics of consistency to avoid unnecessary conflicts is also a currently required device, which can realism in the nature of the new regime.

Protecting the legitimate rights, those protected by law, of all parties in the labor relationship is a guarantee for the reasonable application of exploitative relations in current conditions, at the same time. These are also the most basic advice for the entire process of perfecting and building a socially oriented market economy model in Vietnam.

The residual value theory of Marx was born on the basis of the study of the capitalist mode of production. The discovery of residual value created a real revolution in the entire economic science, arming the proletariat with sharp weapons in the war against capitalism.

Through the above article of LDG, hopefully you have read the answer to the question “What is the residual value?” along with that is the origin, meaning and nature of residual value?. Thank you for reading this post.

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Source: Giá trị thặng dư là gì? Nguồn gốc và ý nghĩa của giá trị thặng dư là như thế nào? – Tekmonk Bio, Giá trị thặng dư là gì? Nguồn gốc và ý nghĩa của giá trị thặng dư là như thế nào? – KOLNetworth, Giá trị thặng dư là gì? Nguồn gốc và ý nghĩa của giá trị thặng dư là như thế nào? – Blogtomoney