Surplus labour is a concept used by Karl Marx in his critique of political economy. It means labour performed in excess of the labour necessary to produce the means of livelihood of the worker ("necessary labour"). According to Marxian economics, surplus labour is usually "unpaid labour". Marxian economics regards surplus labour as the ultimate source of capitalist profits.
Read more about Surplus Labour: Origin of Surplus Labour, Surplus Labour and Exploitation, Surplus Labour in Capitalist Society, Surplus Labour and Historical Materialism, Surplus Labour and Unequal Exchange, Modern Criticism of Marx's Concept of Surplus Labour
Famous quotes containing the words surplus and/or labour:
“Just as the French of the nineteenth century invested their surplus capital in a railway-system in the belief that they would make money by it in this life, in the thirteenth they trusted their money to the Queen of Heaven because of their belief in her power to repay it with interest in the life to come.”
—Henry Brooks Adams (1838–1918)
“Value is the life-giving power of anything; cost, the quantity of labour required to produce it; its price, the quantity of labour which its possessor will take in exchange for it.”
—John Ruskin (1819–1900)