The value of labor power is three dollars per day.
However, the value of labor power is still only three dollars per day.
They give their labor power for about the minimum possible price.
First, labour power must be put to work in the production process.
Costs for labor, power and municipal services are higher here than anywhere.
Production is the act of making goods or services by applying labor power.
On one side there is the buyer of labor power, or the capitalist.
Only labor power, which is bought by capitalists, can create new value.
The key to this is that workers exchange their labor power in return for a means of subsistence.
The source of surplus value comes instead from Variable capital or labor power.
Wörterbuch für Wirtschaftswissenschaft