labour time

But since owners of capital control the production process, workers are not paid for the full labour time expended at work.

Possible benefits are a decrease in labour time and having an all-round healthier weight gain.

An additional benefit is that the machine is easy to clean, meaning a reduction in labour time.

This follows from the labour theory of value's definition of value as embodied labour time.

The resulting prices of production are via transformation from labour values into prices based on labour times.

The uniform hour of sixty minutes soon tended to replace the day as the fundamental unit of labour time in the textile industry.

Another way could be to change the conditions of employment so as to compensate for the consequences of the reduction of labour time on costs.

His dark irony goes deeper by asking what is the socially necessary labour time for the production of labour (i.e. working people) itself.

A formal statement of the law is: the value of a commodity is equal to the average socially necessary labour time required for its production.

The immediate result of this is that the value of a given item tends to decrease, because the labour time necessary to produce it becomes less.

From Ricardo, Marx took the idea that the value at which products exchange in a market is proportional to the labour time required to produce them.

This means that the means of subsistence become cheaper; therefore the value of labour power or necessary labour time becomes less.

Are relative quantities of labour time performed proportional to the long-term relative movements of output prices?

If the length of the working day remains the same, this results in an increase in the surplus labour time and the rate of surplus value.

For instance, if monthly wages remain constant when the labour time is reduced the costs of production increase and this produces a negative scale effect on employment.

Marxists assert that value derives from the volume of socially necessary abstract labour time exerted in the creation of an object.

Marx employed a labour theory of value, which holds that the value of a commodity is the socially necessary labour time invested in it.

The workers attempt to increase necessary labour time (by demanding higher wages) and/or decrease surplus labour time.

It is a cut in the wage, both the immediate and the deferred wage, and it is an increase in labour time.

In capitalism, the labour theory of value is the operative concern; the value of a commodity equals the socially necessary labour time required to produce it.

Last night he had to leave it to wee Dougie Alexander, another Labour time server in the Murphy mould, to do all the work for him.

Labour time saved at work due to the increased labour productivity is likely to be spent on further labour time at higher productive rates.

For example, if with learning, the labour time per unit will decrease exponentially over time as more product is made, then the time per unit is:

The advantages of this approach are the further reduction of manual labour time and cost per unit area of slab and a simple and systematic building technique.

Marx held that metallic money, such as gold, is a commodity, and its value is the labour time necessary to produce it (mine it, smelt it, etc.).