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 ?
Ismat Raza Shahjahan, AWP's Deputy General Secretary and Women Democratic Front's President, highlighted that May Day was not only a day for organized union labour, which constitutes merely 2% of the total formal labour force, but all those 'who have to sell their labour power in order to ensure their survival since they do not have rent producing assets or capital, as such May Day is as much about those women who work in homes as domestics and those who work in the textile sector, both in factories and from homes, as well as countless others employed as wage labourers and on limited term contracts in agriculture and the informal service sector'.
Women's labour power is considered inferior because of employer's predetermined nation of women's primary role as homemakers.
Philip Morris has a 22% market share with a labour power of 2,500 of direct and indirect employees in Egypt.
They also call attention to the key role that social networks play in in the production and reproduction of labour power and labour regimes as well as in enabling and constraining political praxis.
This is because the worker lives by selling their labour power. And, in a division of labour, this labour-power is tied to the specialised use of a single tool.
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.
(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.