Definition of Surplus value:
Difference between a workers wages (exchange value) and the value of goods and services he or she produces (use value). Since use value is (or should be) always higher than the exchange value, workers produce a positive surplus value through their labor. German philosopher-economist Karl Mark (1818-83) used surplus value as a measure of worker exploitation by capitalism.
(in Marxist theory) the excess of value produced by the labor of workers over the wages they are paid.
How to use Surplus value in a sentence?
- At a certain point it is confronted with the fact that it is a claim on surplus value and this surplus value has to be actually extracted from the working class.
- You must keep up the surplus value of your product and be able to get rid of it when the time comes.
- The surplus value must always exist as the business owner wants to make a profit at every point in the process.
- I was interested in the surplus value because it had always been something I wanted to know and I wanted to know the difference between my wages and the value of the goods I produced.
Meaning of Surplus value & Surplus value Definition