Variable capital

from Wikipedia, the free encyclopedia

In Karl Marx's theory, variable capital describes the wage costs of the workers employed in production. The wage is the price of the commodity labor power which the capitalists buy from the workers. This value of labor is determined by the average working time necessary for its production, i.e. the living and maintenance costs of the individual wage worker and the wage working class .

In contrast to constant capital , according to Marx's theory of surplus value (the origin of profit is the exploitation of workers), variable capital creates added value . The value added, at Marx new value , corresponds to the length of the hours worked according to the labor value theory. After deducting the variable capital from the new value, the added value remains .

See also

Web links

Karl Marx on constant and variable capital