The value of rm is the number of labour hours that went into producing them.
Cost of Capital Equipment This amounts to the cost of the labour that went into the making of them, plus the labour that went into providing therm for them Buildings their value amounts to the # of hours of labour
that went into making them, plus the labour value that went into making therm for them
Cost things in terms of the # of labour hours that went into making the product. Capitalist Accountants would list the following as expenses on the statement of comprehensive income materials,
supplies, depreciation and labour. They would keep track of all the money that went into the final product.
The Marxist accountant would track all of the labour hours that went into the final product living labour and dead labour.
• Living labour would be the labour
expended in the present • Dead accumulated labour would be the labour expended in the past (to obtain rm, making equipment)
• An
item for sale is comprised is stored labour value; a finished good embodies all the labour that ever into it. Thus, if
the product belongs to anyone, it belongs to the workers who made it. However, as we shall see through the concept of the internal labour and a Marxist guiding principle that comes hand-in- hand with it, the workers will freely give the product away.
