Extraction Of Surplus Value Research Articles

Money as a “Social Power”: Commodity Fetishism and Financialization

Marx’s concepts of commodity and money fetishism explain the perception that money and commodities have “value,” presumably as part of their intrinsic properties. In fact, the exchange value of commodities and money results from living labor and the extraction of surplus value. With a historic review of the institutions for production, circulation, and credit, this appearance of capitalism can be explained. Further, the view that money is valuable in itself can lead to overexpansion of credit, stagnation, and instability. The attribution of “value” to living labor and the environment instead of money would result in different policies and priorities, and a more stable and equitable economy, rather than “financialization” and crises. JEL Classification: N23, G15, G23, B52

Migrant services and the reconfiguration of social reproduction as capital accumulation

Much of past feminist theorization of social reproduction has concentrated on the domestic sphere. However, in multiple domains such as education, childcare, elder care, health care, the delivery of goods, and migrant settlement, first the state and non-profit organizations and increasingly corporate profit-making service industries emerged as significant providers. In this transformed world of social reproduction, the initial query of feminist theorists about the relationship between social reproduction and capital accumulation must again be addressed. This return to a theorization of social reproduction in what is often considered the humanitarian sector of capitalist economies must encompass the labor of precarious workers and unpaid volunteers. Building on but going beyond the feminist debate about social reproduction, this paper explores the relationship between the public–private domain of service delivery and capital accumulation in migrants’ services. In so many instances, humanitarian activities in sectors such as migrant services have become the local face of a multiscalar migration industry. Through an exploration of the delivery of migrant services in a disempowered city in eastern Germany, the paper explicates the dynamics through which social reproduction activities are commoditized and are increasingly linked to locations and mechanisms of capital accumulation through the extraction of surplus value.

Political Economy in Early Modern China and Its Relevance to Contemporary China

ABSTRACT This article seeks to develop an understanding of the historical political economy of late imperial/early modern China, from the Song through the Qing dynasties, which recognizes its basic features as a distinctive Chinese form of commercial capitalism. Using defining characteristics of capitalism as set forth in Marx’s analysis of European, particularly English, capitalism, this article argues that the structures and functions of the late imperial Chinese economy, and the cultural inflections generated by that economy, constitute a historical form of capitalism clearly different in its details, but substantially embodying the key features of Western capitalism, such as commodity production, elaborate market mechanisms, credit and finance systems, a monetized system of exchange, and the extraction of surplus value from labor for accumulation by commercial actors in both the manufacturing and agricultural sectors. This is important not only for the correct identification of the late imperial/early modern Chinese system and for understanding the diversity of capitalist development outside the traditional Eurocentric framework, but also for its relevance to contemporary China’s project of socialist construction.

Infrastructured bodies: Between violence and fugitivity

This article traces the trajectory of critical geographical scholarship on the body’s intertwinement with infrastructure systems. In doing so, it argues that although the body is not ontologically infrastructure, it can nevertheless enable infrastructure’s functioning – whether by being made into infrastructure of surplus value production or by suturing widening gaps in sub-optimal infrastructure systems. Analysing these dynamics, the article theorises the body as infrastructured – given over to the violence of capital and its infrastructures that subject specifically gendered, racialised, and classed bodies to surplus value extraction and/or abandonment; but also as simultaneously fleeting in its irreversible exposure to this violence.

The assembly line at Ford and transportation platforms: A historical comparison of labour process reorganisation

AbstractThis paper provides a historical comparison of the introduction of the moving assembly line at Ford Motor factories in the early 20th century, with the development of transportation platforms in the 21st century. The paper pushes back against the argument that either of these cases was based upon technological innovation, arguing that in neither case was new technology developed, but rather existing machinery was made use of. The paper argues that each case was built upon the reorganisation of the labour process, to increase the control that capital held over the labour process, increase the intensity of work and increase the levels of exploitation and surplus value extraction that workers are subjected to. By demonstrating this, it removes the technological façade that contemporary platforms hide behind, showing that they do not represent a qualitative break from the past, but rather the repackaging of old forms of work intensification.

Marx’s Capital and the concept of super-exploitation

This article explores the theory of exploitation which Marx sets out in Capital. It argues that Marx assumes that there are five modes of extraction of surplus value. These are associated with the following principles: (1) extended duration of the working day; (2) enhanced productivity (due to the introduction of new technology); (3) efficient organization of the process of production; (4) increased intensity of labour and (5) depressed consumption of the labourer. The article argues that Marx’s theory of exploitation is not as systematic as it could have been. For this reason it is ripe for a theoretical reconstruction. The article also discusses the views of recent commentators who have developed the idea of ‘super-exploitation’, which is taken from Marx’s writings. There is a tendency in this literature to associate this notion with the principle of depressed consumption and to argue that it is especially relevant for understanding of what is happening in the societies of the Global South. Those concerned identify this as a third mode of extracting surplus value, in addition to the principle of extended duration (absolute surplus value) and enhanced productivity (relative surplus value). The article argues that this procedure overlooks certain aspects of Marx’s theory of exploitation, especially those having to do with the efficient organization or rational administration of labour within the process of production.

The Profitability Puzzle of Digital Labor Platforms

By examining digital labor platforms that connect customers with gig workers, we attempt to solve the puzzle concerning why these labor platforms, such as ride-hailing companies and food delivery companies, continue to suffer weak profitability even though they promise a more efficient way to mobilize and utilize the platform’s labor force. Stylized facts on the profitability of the top ten global labor platforms and a descriptive analysis of their cost structures are presented. We further argue that the modes of production and competition inherent in digital labor platforms are critical to this profitability puzzle because they determine the upper limit of surplus value extraction in production and the heavy financial burden of profit generation for labor platforms. JEL Classification: P12, E24, D40

Consent, Resistance, and Gender Identity in Social Reproductive Work: The Case of Georgian Migrant Women in Turkey

ABSTRACT Taking Georgian migrant women who work in Turkish homes as a case, this article explores the material and ideological conditions surrounding the extraction of surplus value from live-in migrant domestic labourers. From the perspectives of social reproduction and labour process theories, it documents the migrant workers’ concerted consent and resistance strategies in the workplace with reference to domestic labour processes. Based on an ethnographic study, the findings show the contradictory nature of migrant women’s attainments due to their gendered migrant identities. Implications of these findings in relation to the collective organisation of domestic labourers are discussed.

Responsabilidad social en la producción de tabaco de Nayarit. ¿Un lavado de cara y de manos en la acumulación por despojo?

In Nayarit, Mexico, there is an Integrated System of Tobacco Production (SIPT) which operates mainly with the participation of campesino families. However, for some preparatory work and to guarantee the harvest, local jornaleros and indigenous migrant families from the mountainous regions of Nayarit, Jalisco, Durango, and Zacatecas are hired, manly on a temporarily basis. They live for several months in precarious conditions in the houses and yards of the growers and on the agricultural plots. Since the Marco’s Convention and the General Law on Tobacco Control, the companies that control the SIPT have adopted new narratives and strategies for managing and sustaining their businesses, mainly emphasizing the so-called Corporate Social Responsibility (CSR). The objective of this article is to analyze the CSR actions of the tobacco companies from an approach of accumulation by dispossession, understanding CSR as a capitalist tool for the extraction of surplus value. With the support of a qualitative methodology, based on bibliographic and hemerographic review, direct observation, field diaries and interviews, also corporate actions comprised between 2018 and 2023 have also been documented. British American Tobacco and Tabacos del Pacífico Norte have "sponsored" the operation of the Florece centers and the Sustenta program in the tobacco fields of Nayarit, even though, in the tobacco reality of the tobacco industry the operation of such programs and their costs are assumed and absorbed by the growers, while the companies disseminate an image of sustainable business management.

How algorithms are reshaping the exploitation of labour-power: insights into the process of labour invisibilization in the platform economy

Marx conceives of capitalism as a production mode based on the exploitation of labour-power, whose productive consumption in the labour process is considered as the main source of value creation. Capitalists seek to obscure and secure workers’ contribution to the production process, whereas workers strive to have their contribution fully recognized. The struggle between capitalists and workers over labour-time is thus central to capital’s valorization process. Hence, capital–labour antagonism is structured over the capture and exploitation of unpaid labour-time. Building on Marx’s labour value theory, as well as on some of its contemporary interpretations, I call this struggle over labour-time capture a process of ‘invisibilization’ of labour. I claim that this invisibilization process is still a relevant form of surplus-value extraction in contemporary capitalism, especially in the platform economy, characterized by remote but pervasive control by algorithms. The rediscovery of this form of surplus-value extraction and its manifestation in platform labour is the main contribution of this study. To corroborate this contribution, I compare the case of platform labour with that of textile-clothing, where value production is more clearly based on the classical forms of surplus-value extraction (i.e., absolute and relative). This comparison helps to cast a new light on the nexus between work-process transformations and surplus-value creation, which is the core of the Marxian labour theory of value, and which – I argue – is crucial to understanding contemporary capitalist developments.

Enchanting Pedagogy: Creating Labor Games in the Extractive University

Through ethnographic fieldwork as a Teaching Assistant (TA) at the University of California, Berkeley, I advance that pedagogical labor can be conceptualized as two labor games. In the didactic game, I utilize hierarchical lecturing to simplify complex concepts in the pursuit of student comprehension of material, while the experiential game centers nonhierarchical dialogue and students’ personal experiences to promote consciousness-raising. TAs’ ability to create and switch between games underpins my broader theorization of labor games as one of two types: institutional games – shared among workers in similar structural circumstances and persistent across worker entry and exit – and innovation games – created by individual workers with relative autonomy amidst an absence of worker co-presence. Just as institutional games provide a template for obscuring and securing the extraction of surplus value under monopoly capitalism, innovation games do the same for the increasingly flexible, autonomous capitalism of the twenty-first century.

Franchising and the Extraction of Surplus Value: Excavating the Legal Boundary Between Franchisees and Employees

Nearly one in ten Canadians in the private sector works in the franchised sector of the economy. For the most part, franchisors operate as rentiers, extracting value from franchisees for the use of their brand. Research has demonstrated that this arrangement puts additional pressure on franchisees to extract surplus value from their employees that tend toward substandard and unlawful working conditions. In this scenario, franchisors benefit from but are only indirectly involved in the extract of surplus value. In some cases, however, the vertical controls exercised by “franchisors” over “franchisees” are so extensive, and the financial contribution of “franchisees” is so limited, that the franchisor becomes involved in directly extracting surplus value from franchisees. We explore this latter phenomenon through an excavation of the history of the legal distinction in Canadian business-format franchising in Canada and detailed studies of two recent Canadian cases in which “franchisees” successfully claimed employment status.

Remembering Herbert Gutman's Work, Culture, and Society Fifty Years On

Remembering Herbert Gutman's <i>Work, Culture, and Society</i> Fifty Years On

Are Services Post-Capitalist? A Marxian Interrogation

Recent post-capitalist theorizing, particularly Winant, revives the question of service sector growth. At stake is whether an economic system built on the extraction of surplus value can continue to function when ever-larger shares of workers do not produce this; also, whether their growing predominance prefigures post-capitalist relations of production. Most contributions offer imprecise concepts of service work and capitalist productivity, however. This article sharpens these with Marxian theoretical tools and assesses them using 2016–2020 US Census data, finding that less than one-fifth of service employees produce surplus value, while nearly half of non-service employees do. The majority of service and all formal US employees create important use values outside of direct capitalist exploitation. They thus pose a potentially post-capitalist constituency that is heavily—and non-randomly—female and Black, Indigenous, and people of color (BIPOC). The implications of this for the transition away from capitalism, as well as for the transition debate itself, are then considered.

The Digital Calculus of Racial Capitalism

The Digital Calculus of Racial Capitalism

Time, (im)mobility and social reproduction: self-development of Chinese migrant women workers in Singapore

ABSTRACT This article uses time as an analytical frame to examine low-wage migrants’ aspirations and strategies in negotiating social mobility and reproduction under temporary migration regimes. Drawing on an ethnographic study of Chinese migrant women factory workers who actively pursue self-development during their sojourns in Singapore, this article demonstrates that time is central to understanding migrant women’s mobility aspirations and social reproduction strategies as well as the structural conditions that propel them to embark on self-development. It underscores the diversity of migrants’ experiences of time and the rhythms of their personal and family lives and how they are inextricably linked to temporal processes of migration and production. Through the temporal lens, the article also sheds light on the workings of temporary migration regimes under neoliberalism. It points out the contradiction between state attempts to constitute low-wage migrants as immobile labouring subjects and the temporal nature of migrant subject-making and skills development. It also shows how migrants’ pursuit of self-development and enactment of agency paradoxically play into the dominant ideology and become a site for surplus value extraction. The article contributes to the temporal approach to the intersection of migration, mobility and social reproduction.

Mapping Racial Capitalism: Implications for Law

The theory of racial capitalism offers insights into the relationship between class and race, providing both a structural and a historical account of the ways in which the two are linked in the global economy. Law plays an important role in this. This article sketches what we believe are two key structural features of racial capitalism: profit-making and race-making for the purpose of accumulating wealth and power. We understand profit-making as the extraction of surplus value or profits through processes of exploitation, expropriation, and expulsion, which are grounded in a politics of race-making. We understand race-making as including racial stratification, racial segregation, and the creation of sacrifice zones, which reflect the strategies and outcomes of profit-making. The structural features of racial capitalism thus are mutually constitutive: profit-making processes create and reinforce the making of racial meaning, while race-making, underwritten by white supremacy, structures and facilitates the economic processes of profit-making. Together, they constitute a global system dependent on the unbridled extraction of wealth from both humans and nature.

The role of commodity speculation and household debt accumulation during financialization: a Classical-Keynesian analysis

Abstract In this paper, we present a Classical-Keynesian viewpoint on financialisation grounded on the ‘integrated wage-commodity sector’ model. We focus on two aspects. First, with reference to the case of commodities, we argue that financial speculation in these markets did not affect normal prices but only caused market price short-run deviations. In addition, such speculation is unnecessary and even detrimental to the direct and indirect production of the wage-basket. Thus, financial regulation can restrain it without impairing the capability of the economic system to reproduce itself. Second, we show that the accumulation of household debt can enhance absolute and relative surplus value extraction from workers. This, in turn, positively impacts profitability. But, while absolute surplus value extraction boosts the amount of profit, only relative surplus value extraction increases the normal rate of profit.

Foucault's Strange Eros

Foucault's Strange Eros

The “Demarcation Problem” in Science: What Has Enlightenment Got to Do with It? Part I

Steven Pinker’s recent Enlightenment Now (2018) aside, Enlightenment values have been in for a rough ride of late. Following Max Horkheimer and Theodor Adorno’s critique of Enlightenment as the source of fascism, recent studies, amplified by Black Lives Matter, have laid bare the ugly economic underbelly of Enlightenment. The prosperity that enabled intellectuals to scrutinize speculative truths in eighteenth-century Paris salons relied on the slave trade and surplus value extracted from slave labor on sugar plantations and in other areas Europeans controlled. Indeed, deprived of its ugly economic underbelly, Enlightenment was barely conceivable; furthermore, its reliance on surplus value extraction from oppressed labor was accompanied by a racism that, with the exception of the thought of Jean-Jacques Rousseau and a few other thinkers, was arguably inherent to Enlightenment. However, I am not proposing yet another revelation of Enlightenment’s complicity in exploitation of, or disregard for, the Other. Rather, I want to highlight the damage being done today by an insidious strategy of labelling as “pseudo-science” entire domains of non-Western knowledge such as Chinese medicine and Ayurveda, thereby rendering them no-go zones for serious minds. Even though the term pseudo-science had yet to be coined, the beginnings of this tendency are already evident in Enlightenment-era works such as Jean-Baptiste Du Halde’s Description … de la Chine (1735). The perpetuation of this dismissive treatment of non-Western natural knowledge creates a significant obstacle to superseding a “scientific revolution” whose confines have long been burst: it is increasingly recognized that traditional/indigenous knowledge affords a vast reservoir of materials, skills and insights of which the world has desperate need, no more urgently than in response to the covid-19 pandemic.