å Monday, October 3rd, 2016

In the reading “Wage Labour and Capital “by Karl Marx, explains the Financial and labor agreements made between a capitalist and the worker. The Worker or potential employee has Labour power. Labour power is the task and man power the person can complete for a set period for a set amount of money. The worker than negotiates the its Labour power with the capitalist in exchange for money. This is called price or wage. He spends this wage on food and shelter. This can be translated the worker exchanges his Labour power for food and shelter.

In the example of the Weaver and loom workers, Marx defines what the weaver is truly getting paid for. The weaver is receiving wages based on the agree Labour he perfumes. He does not receive results of his Labour. The results of his task completing skills is the piece of fabric which was created by the yarn provided to him. The yarn came from another laborer or employee called “The loomed “who made the yarn from raw materials. The “Loomers” Employer than sold the yarn to the weaver’s employer. He then provided the yarn to the weaver who exchange his man power to convert the yarn to fabric.

Karl Marx, continues to explain the capitalist method of production and reason why. Community changed as needs for production increased. This made the community change both materially and socially. What the worker produces and the profit of what he produces is the surplus value. The worker does not receive compensation from such profit.

The worker does not exchange his labor for commodity only but also for the satisfaction of living life. For the small moments human enjoy like sharing a bed, being part of a social group and caring for others. These things can be provided to him by exchange of labor for wages. These wages he uses for the exchange of these experience.

History shows Labour ownership was not always exchanged for wages. It was purchased once and never renegotiated. This was called slavery. Capitalist or slave owners had slaves to complete all the daily operation of any land or industry of their ownership. Now era the endeavor is completed by rented Labour owners in exchange for wages or commodities.

In conclusion, the relationship between “capital and wage Labour” is Labour –owner or employee gets hired by the capitalist or employer to complete a job for a particular period of time and wage. This wage is then exchanges for commodities.