A short article that shows the relationship of wages to value, labor time and distribution of goods under capitalism and how this changes during the transformation of capitalism into communism.
Societal: Total Wages < Total Value = Total Labor Time = Total Goods
Individual: Individual Wage < Individual Value = Individual Labor Time = Individual Goods
Notes: The capitalist class holds political power, using the state to enforce its control over the means of production. The separation of the producers from the means of production allows exploitation, as the difference between total wages and total value produced is the surplus value appropriated by the capitalist class as a whole from the working class as a whole. This difference is partly re-invested into expanding production and partly kept as personal wealth.
Societal: Total Wages ≈ Total Value = Total Labor Time = Total Goods
Individual: Individual Wage ≈ Individual Value = Individual Labor Time = Individual Goods
Notes: Having conquered political power, the working class generalizes its condition to all the non-working and formerly exploiting classes and equalizes wages, therefore eliminating surplus value and suppressing capital accumulation, with money earned becoming directly proportional to labor time. The means of production are now in the hands of the producers. A small difference is deducted from the wage to cover social costs such as housing, healthcare, electricity, etc…
Societal: Total Labor Vouchers ≈ Total Labor Time = Total Goods
Individual: Individual Labor Voucher ≈ Individual Labor Time = Individual Goods
Notes: With the equalization of wages making money directly proportional to labor time, and with the proletarian state in control of most of production and distribution, money that circulates between the different branches of the socialized economy can be directly converted into labor times and wage-labor can be replaced with a labor voucher system to distribute and apportion labor in a rational and controlled manner. Value production is destroyed, and with it, capital.
Societal: Total Labor Time = Total Goods
Individual: Individual Labor Time ≠ Individual Goods
Notes: The abolition of the division of labor and the expansion of the forces of production, along with the death of capitalist habits and mentalities, renders the strict accounting of labor time unnecessary, as labor is performed voluntarily and goods are distributed according to need, rather than in proportion to labor time. All sectors of the economy have been integrated into socialized production, and the state has completely withered away into an administrative apparatus.