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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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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.
surplus value, Marxian economic concept that professed to explain the instability of the capitalist system. Adhering to David Ricardo’s labour theory of value, Karl Marx held that human labour was the source of economic value. The capitalist pays his workers less than the value their labour has.
Apr 27, 2023 · The meaning of SURPLUS VALUE is the difference in Marxist theory between the value of work done or of commodities produced by labor and the usually subsistence wages paid by the employer.
surplus value. in A Dictionary of Human Resource Management (2 rev) Length: 20 words. View all related items in Oxford Reference » Search for: 'surplus value' in Oxford Reference » The excess of what workers can produce over what they need to consume.
Surplus-value is essentially just that: the money form of the social surplus product or, what amounts to the same, the money product of surplus labour. It has therefore a common root with all other forms of surplus product: unpaid labour.
Aug 29, 2023 · Key Takeaways. A surplus describes a level of an asset that exceeds the portion used. An inventory surplus occurs when products remain unsold. Budgetary surpluses occur when...
SURPLUS VALUE definition: the difference between the amount a worker is paid and the value the worker adds to the goods or…. Learn more.
