labour power


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labour power

  1. a general term for those employed within an organization.
  2. (MARXISM) the capacity to work which is bought and employed by capitalists and from which the capitalist extracts SURPLUS VALUE (see also LABOUR THEORY OF VALUE). The distinction made by MARX between labour’ and ‘labour power’ is an important one in Marx's economics and his theory of CAPITALISM AND CAPITALIST MODE OF PRODUCTION (see ALTHUSSER and Balibar, 1968; Hodgson, 1982). Unlike labour, labour power can be traded in a market and is an object of possession. Under capitalism, the hiring of labour power, involves an agreement by the worker to submit to the employer's authority for a set period of time. The employer then has freedom to use this labour power, and the surplus product created, as he wishes. It is this labour power which is the source of surplus value.
References in periodicals archive ?
Even our voting system was designed to entrench Labour power.
He is himself a commodity, but the labour power is not his commodity.
For instance, the philanthropic institutions, even if free, provide education (as a commodity) that produces value in terms of the labour power being produced.
Unite is the party's biggest donor and left-winger Len, 66, a key Labour power player, has thrown his weight behind Mr Corbyn.
Migrant workers make an enormous development contribution to the regions economies through skills, labour power, services and competitiveness in countries of destination; and financial remittances, skills and knowledge on return to their countries of origin.
El-Araby said in a TV interview that amendments to penalties and complaints articles in the 18/2015 law were demanded by the parliament's committee on labour power, which discussed the law before it was turned down in a vote turned it down.
3) Neither was he unaware of the fact that "reduction of wages below the value of labour power," (4) according to Marx, was a mechanism that capital uses to counteract the falling rate of profit.
Wages are the surface expression, the price, of the value of workers' labour power or ability to work, not a payment for the work they do or reward for the value they create.
52 of 1989, defining the rules and procedures to be followed in the work permit sections when recruiting foreign labour power to work in the country.
The South-West Oltenia Region expresses a spiritual and economic geographical institution, an area with a political strategy on addressing the labour power and the creation of sale markets and, to a certain extent, a unitary linguistic area.
In linking what they call the proliferation of borders with the expansion and intensification of competition within a labour market that encompasses the entire world, they provide new insights to the ways in which practices of bordermaking and maintenance are essential to the production of labour power as a commodity and hence to capitalism.
Ultimately the move cost Labour power in the borough and the pay and display charges at 10 Calderdale car parks have now been removed.