marx and marxism

Marx and Marxism 2. First noted by John Locke in his Second Treatise on Government, labor is a source of value. Stated simply, the work a person does is worth money or a wage. This is a fundamental, arguably the fundamental principle, in the capitalist economic system. Most critics of the system argue capitalism exploits the worker because he is not paid and cannot be paid the full value of his labor, because this is the …

…However, in the day of unregulated capitalism, working more hours does not mean overtime, often just creates more “surplus value,” more profit to the employer. Even with the advent of the “minimum wage” the problem still exists today. Presently, the federal minimum wage stands at $5.15 an hour. According to the Department of Labor, 40% of those who earn a minimum wage are the sole provider for their families, which would place them under the poverty level.