Albert Einstein on labour power
Updated: 13 March 2015, 19:12
In “Why Socialism?” in the Monthly Review of May 1949, Albert Einstein had this to say about labour power.
The owner of the means of production is in a position to purchase the labor power of the worker. By using the means of production, the worker produces new goods which become the property of the capitalist. The essential point about this process is the relation between what the worker produces and what he is paid, both measured in terms of real value. In so far as the labor contract is free what the worker receives is determined not by the real value of the goods he produces, but by his minimum needs and by the capitalists’ requirements for labor power in relation to the number of workers competing for jobs. It is important to understand that even in theory the payment of the worker is not determined by the value of his product.As well as being a genius, Einstein had his head screwed on right about labour power, and socialism in general.