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Shop talks on economics
Image 27
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Marcy, Mary, 1877-1922. Shop talks on economics - Image 27. 1911. Special Collections, University of Houston Libraries. University of Houston Digital Library. Web. September 25, 2017. http://digital.lib.uh.edu/collection/scpamp/item/892/show/850.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Marcy, Mary, 1877-1922. (1911). Shop talks on economics - Image 27. Socialist and Communist Pamphlets. Special Collections, University of Houston Libraries. Retrieved from http://digital.lib.uh.edu/collection/scpamp/item/892/show/850

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Marcy, Mary, 1877-1922, Shop talks on economics - Image 27, 1911, Socialist and Communist Pamphlets, Special Collections, University of Houston Libraries, accessed September 25, 2017, http://digital.lib.uh.edu/collection/scpamp/item/892/show/850.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

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Title Shop talks on economics
Creator (LCNAF)
  • Marcy, Mary, 1877-1922
Publisher Charles H. Kerr & Company
Place of Creation (TGN)
  • Chicago, Illinois
Date 1911
Subject.Topical (LCSH)
  • Economics
  • Socialism
  • Marxian economics
Genre (AAT)
  • pamphlets
Language English
Type (DCMI)
  • Text
Original Item Extent 58, [6] pages; 18 cm.
Original Item Location HX86.M3 1911
Original Item URL http://library.uh.edu/record=b8304396~S11
Original Collection Socialist and Communist Pamphlets
Digital Collection Socialist and Communist Pamphlets
Digital Collection URL http://digital.lib.uh.edu/collection/scpamp
Repository Special Collections, University of Houston Libraries
Repository URL http://libraries.uh.edu/branches/special-collections
Use and Reproduction This item is in the public domain and may be used freely.
File Name index.cpd
Item Description
Title Image 27
Format (IMT)
  • image/jpeg
File Name uhlib_3783716_026.jpg
Transcript SHOP TALKS ON ECONOMICS 25 r Year after year the capitalists buy Jabor-power, paying for it at its value (in the case of the miner at $2.00 a day). The capitalists own the products of the workers—equalling ten hours of labor. They exchange a commodity (gold, or money), containing two hours of labor for labor-power (containing two hours of necessary labor—represented by the necessities of life). But when the miner goes home at night the capitalists find themselves owners of the coal he has dug, which contains ten hours of labor. Coal (representing ten hours of labor) will exchange for gold (or money) containing ten hours of labor; in this case for $10.00. The miner has produced $10.00 worth of coal. He received $2.00. The eight hours of value, or $8.00 worth of coal, which the capitalists appropriate, is surplus value, for which they give no equivalent. "It is this sort of exchange between capital and labor upon which capitalistic production, or the wages system, is founded, and which must constantly result in reproducing the workingman as workingman and the capitalist as a capitalist. "The rate of surplus value, all other circumstances remaining the same, will depend on the proportion between that part of the working day necessary to reproduce the value of the laboring-power and the surplus time or surplus labor performed for the capitalist. It will, therefore, depend on the ratio in which the working day is prolonged over and above that