Chapter 7, Problem 1QR

To determine

The usage of political economy for the description of an ordinary private-sector job like a nurse in a hospital or a retail client by including the term “surplus value”.

Answer to Problem 1QR

In the entrepreneur arrangement of today, a few people (laborers) sell their “work power” to others (capitalist) who put it to utilize anyway they please. They at that point, join the work of these laborers with crude materials and apparatus to produce wares. These articles are then sold to the consumers.

Explanation of Solution

The people who sell their labor power to others are called workers, and people who hire them are called capitalists. For example, the nurse who works for the private hospital uses the equipment, machinery, and computers called the means of production from the hospital. Hospitals provide the conditions for the required process and health of the workers to do the labor. Hence, the hospitals that is the capitalist takes the portion of the sale, the surplus-value and keep it for themselves and they pay the laborer whatever is left.  This may include setting aside a part of the surplus to keep up or put resources into the states of generation planting new trees to supplant those cut-down. Critically, if laborers are paid for the full worth of their work or common frameworks are revitalized at the equivalent rate they are drawn down, there is close to nothing or nothing left for the entrepreneur. Capitalists need to “underpay” the workers or over-extract from the environment or there cannot be free enterprise. This displays a crucial test to the social or natural maintainability of free enterprise.