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- DictionarySur·plus val·ue/ˈsərpləs ˈvalyo͞o/
noun
- 1. (in Marxist theory) the excess of value produced by the labor of workers over the wages they are paid.
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- Surplus value
Central concept in Karl Marx's theory of value and critique of political economy
In Marxian economics, surplus value is the difference between the amount raised through a sale of a product and the amount it cost to manufacture it: i.e. the amount raised through sale of the product minus the cost of the materials, plant and labour power. The concept originated in Ricardian socialism, with the term "surplus value" itself being coined by William Thompson in 1824; however, it was ... Wikipedia
