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Labor is a commodity, like any other, and its price is therefore determined by exactly the same laws that apply to other commodities. In a regime of … - Friedrich Engels
" "Labor is a commodity, like any other, and its price is therefore determined by exactly the same laws that apply to other commodities. In a regime of big industry or of free competition – as we shall see, the two come to the same thing – the price of a commodity is, on the average, always equal to its cost of production. Hence, the price of labor is also equal to the cost of production of labor. But, the costs of production of labor consist of precisely the quantity of means of subsistence necessary to enable the worker to continue working, and to prevent the working class from dying out. The worker will therefore get no more for his labor than is necessary for this purpose; the price of labor, or the wage, will, in other words, be the lowest, the minimum, required for the maintenance of life.
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About Friedrich Engels
(November 28, 1820 – August 5, 1895) was a 19th-century German philosopher, social scientist, and journalist. He created Marxist theory together with Karl Marx. In 1845, he published The Condition of the Working Class in England, based on personal observations and research in . In 1848, he co-authored The Communist Manifesto with Marx, and he also authored and co-authored (primarily with Marx) many other works. He later supported Marx financially to do research and write . After Marx's death, Engels edited the second and third volumes. Additionally, Engels organised Marx's notes on the , which he later published as the "fourth volume" of Capital.
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Frederick Engels
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Additional quotes by Friedrich Engels
The general co-operation of all members of society for the purpose of planned exploitation of the forces of production, the expansion of production to the point where it will satisfy the needs of all, the abolition of a situation in which the needs of some are satisfied at the expense of the needs of others, the complete liquidation of classes and their conflicts, the rounded development of the capacities of all members of society through the elimination of the present division of labor, through industrial education, through engaging in varying activities, through the participation by all in the enjoyments produced by all, through the combination of city and country – these are the main consequences of the abolition of private property.
So long as it is not possible to produce so much that there is enough for all, with more left over for expanding the and extending the forces of production – so long as this is not possible, there must always be a ruling class directing the use of society's productive forces, and a poor, oppressed class. How these classes are constituted depends on the stage of development.
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