A Dual-Level Theory of the Creation of Labor Value

摘要

How does labor value, which is defined as abstract labor under given social production conditions, change with the evolution of those conditions? This paper aims to solve this problem by introducing a new model of labor value theory, in which social labor is divided into two levels: "routine labor" under normal conditions of production, and "innovation labor" which creates these conditions. Innovation labor doesn't produce goods directly; it creates value by enhancing the human capacity to produce goods. This value is equal to the total value accumulated over time during the transformation of production conditions. Much thinking concerning labor value confuses these two different levels of labor and their distinct value creation processes. These misunderstandings, however, can be settled by the theory outlined in this essay.