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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
The Creation of Value by Living Labour: A Normative and Empirical Study - Vol. 2

The Creation of Value by Living Labour: A Normative and Empirical Study - Vol. 2

Cheng, Enfu
Sun, Yexia
Freeman, Alan

Paperback

EconomicsLaborGeneral Political Science

ISBN10: 6057693043
ISBN13: 9786057693044
Publisher: Canut Int. Publishers
Published: Oct 21 2019
Pages: 260
Weight: 0.85
Height: 0.59 Width: 6.00 Depth: 9.00
Language: English

The book draws on Professor Cheng's New Four Theory on value, wealth, and distribution, among which the new living labor value theory is particularly creative. Its basic idea is as follows. According to Marx, all labor that directly produces physical and mental or cultural goods for exchange in the markets, or direct services for the production and reproduction of labor goods, including internal management labor and scientific and technical labor, falls in the category of value-creating labor or labor of production. The theory precisely follows Marx's train of thought in his analysis of material production, and extends it to all social and economic sectors.
A second obstacle to understanding the specific role of labor in emergent labor-intensive technologies is the exclusive focus of neoclassical economics on private production. The underlying assumption is that of an ideal system of production conducted by entirely distinct legal entities, each producing only for the market and interacting with others only through the market.
But the results of mental productive activities such as scientific labor, creative labor, and even management, increasingly take the form a general acquisition for society, which is therefore inherently social. Marx referred to this as general social labor. Private labor, within an enterprise, draws both on this general social labor and on the inputs that it acquires through the market. The same also applies to much cultural labor, which forms part of the process through which labor power itself is reproduced, not least shaping its productive powers. The most obvious example of this is education, which even neoclassicals have to recognize, up to a point, as a public good.

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