Jim Drysdale jimd48 at btinternet.com
Thu Dec 13 09:24:50 MST 2001

>From Jim Drysdale,

Greg writes.....

snip> Obviously a lot of this is to USA advantage on a world scale - my
impression though was that the US itself was not immune from similar
internal trends.

JD:  Competition between competing capitals drives all change at the
workplace.   Trends, local and global  merely a manifestation of the
productivity of labour, which is competition.

Briefly......the law of value progressively malfunctions.   That is,
socially necessary labour time *is* the law that determines the magnitude of
value.  That is, SNLT is the use value exchange value dialectic.
Our capitalist boss (as his capital is in unremitting competition with
others in the same sector) has two aims:   1)  reduce socially necessary
labour time.  2)  Increase surplus labour time.   Taken together these *are*
the productivity of labour.
These are the key to a bigger market share.

Briefly.......the boss with the latest most productive of labour technology
(machines) gets the competitive edge over competitors with........more
surplus labour time (from each worker) in which more surplus value (in each
individual commodity) is embodied in more surplus product......than
Thus, as always, the boss with the latest most productive (of labour)
technology need only sell that particular commodity at its socially
necessary labour time, exchange value, which *is* less than competitors, to
gain a bigger market share, in the same sector.

As the latest most productive technology now determines the socially
necessary labour time, exchange value,  for a particular commodity (in a
sector) then, all bosses must, on pain of death, follow.  ie. competition
for market share rages incessantly.
In an increasinggly socialised global economy this becomes more apparent and
competition between competing capitals *is* the drive to so-called

Briefly......the essential commodity of capital is.....labour power.   It
too has its socially necessary labour time,.exchange value.  This is an
amount of the money form of value, that is, wage.

Briefly.....(empirically).....lower wages, sooner earned......leaving more
unpaid labour time to the bosses.
Briefly.....(essence)......the sooner that the labour power of the worker
can create value to the socially necessary labour time to replace labour
power (wage) then,  the sooner that the worker embodies surplus value.  Of
course, as neither the worker nor the boss knows when value to wage has been
embodied then, each commodity has embodied value to amounts of wage, and
surplus value. (i.e. its exchange value)
In the day to day minute by minute extraction of surplus value (the
exploitation of the worker) this *is* the case.

Briefly, and empirical note......subsidies, that is amounts of the value
form (money) from taxes (of workers) are often given (by government) to
This can mean that certain bosses need not invest in the latest most
productive technology (in their sector).  That is, their commodity can
remain (but only for a while) competitive (its price) despite the fact that
that particular commodity is being produced *above* its socially necessary
labour time, its exchange value, in that sector.   This, often referred to
as unfair competition. (unfair advantage)
Briefly.....however, sooner or later (on pain of being swallowed by bigger
fish making bigger profits) competition leads all bosses (all competing
capitals) to seek cheaper labour power.  (ie.  lower wage)   Farway lands,
can, *for a while*, offer cheaper labour power.

In capitalist production, e.g. the so-called free trade global economy
*price* rarely, if ever, matches socially necesary labour time, exchange

The law of value progressively malfunctions.  This revealed in, bigger and
bigger (and increasingly socialised) global crisis.  And, (briefly) the wage
of the global workforce continuously driven down by competition between
competing capitals to SNLT.

This, of course, is of no care to the bosses whose individual capitals
require bigger and bigger, expected and necessary amounts of *competitive*
surplus value.  (profit)   That is, globalised horror.  And, (briefly) it
e.g.  the rape and the pollution of our planet.

And, of course, the use of labour power that does not add value to the
finished commodity, for example, safety and pollution, *must* be cut-back in
the incessant competition between competing capitals for necessary and
expected bigger and bigger amounts of surplus value.  (profit)

briefly and comradely,


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