Page:Shop Talks on Economics.djvu/30

 V.

Low Prices and More About Profits.

We know that strength to work, or labor-power, is a commodity. The value of a commodity is determined by the necessary social labor time contained in it.

If it takes three hours of social labor to produce the necessities of life for you one day, the value of your labor-power one day will be three hours of necessary social labor.

Figure A will represent the value of your labor power, because 3 hours of social labor are contained



in the necessities of life which will support you one day.

Let Figure C represent your product for one day. It contains 9 hours of labor time. The capitalist who employs you will need to return to you sufficient value to enable you to pay for A (or the cost of living). 30