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Karl Marx - Capital Ch 7 Ch 9 Sec 1 Ch 10 Sec 1 - Essay Example

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Name 1 Name Class Instructor Date Reassessing Labor Value and the Production of Wealth In Chapter 7 of Capital, Marx painstakingly plots the course of events through which the value of a commodity becomes relative to the labor required to produce it. This core dynamic is the lifeblood of the accumulation of capital and the principle upon which, Marx explains, is based the relationship between capitalist and laborer…
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Karl Marx - Capital Ch 7 Ch 9 Sec 1 Ch 10 Sec 1
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Download file to see previous pages Yet the legions of workers who once provided labor commodity with their hands (sweat equity, in other words), the spindle operators, for instance, to whom Marx refers in Chapter 7, have been supplanted by a technological revolution that has made the computer a tool nearly as utilitarian and ubiquitous as the spindle once was. In the modern economy, technology transforms the very nature of labor and the way in which that labor produces wealth. In the “Information Age” economy, the laborer’s work product is intrinsically intellectual, a work type rooted in the cogitative rather than the muscular. It places a premium on communication, since computer-based labor is informational, allowing communication to take place in the blink of an eye, and requiring the laborer to locate, extrapolate and respond to Name 2 unprecedented amounts of information each day. Decision-making, even among a company’s lowest strata, becomes a necessary and desirable skill, a thing unheard of among submissive 19th century laborers held in thrall by exploitative capitalists. In tracing the process involved in producing yarn, Marx outlines a chain of events that assesses the worth of the raw material needed to make yarn, the spindle used to produce it and the labor expended to manufacture it. ...Download file to see next pagesRead More
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