The working class must make its stand against its own capitalists– whose lust for profits and interest, for investments, markets and expanded capital, for raw materials and cheap exploitable labour, can mean only exploitation at home and abject slavery for the peoples of developing and undeveloped nations.
In socialism, there will be no wages at all. There will be no prices or market. In socialism, goods are produced for the use of people and NOT for the profits that they bring in to bosses. Labour power is no longer regarded as a commodity to be bought and sold. It is not purchased at all, let alone purchased at the lowest possible price to keep it alive and able to produce more value. People, in socialism, will work and produce useful goods. But they will produce these for their mutual needs. People who have been freed from the capitalist system will also have been freed from wage labour, price and profit. That is why, instead of the conservative motto, “A fair day’s wage for a fair day’s work,” workers must inscribe on their banner the REVOLUTIONARY watchword: “Abolition of the wage system!”
It is the very essence of capitalism to keep the price of labour at a minimum point, just sufficiently above the subsistence level so that working people can continue to produce – never enough above this level so that the worker could save for a period of not working. The boss has no other interest in the worker. Capitalism, no matter how it plans and prays, is never actually able to do more than keep the worker at the level of subsistence – although there is plenty to provide luxury for all.
The way to cure a disease is not to put a palliative balm upon the symptoms, but to remove the cause. The profit system is the cause of nearly all the suffering poverty, sickness, crime, as well as war. It is the One Great Enemy of the working class. Amidst the horrors of famine, poverty, crime and war there is one way out for the working class of every country. There is one way that means victory for the useful workers of that country. That way means socialism (or industrial democracy as others prefer to describe it.) All the power lies in the hands of the workers. We can make the whole world our world. But it must be an educated, organised class.
Capital is simply money and commodities assigned to create a profit and be reinvested. Profit is made by the "magical" addition of surplus value to the value inherent in the product. The "added value," the profit, is produced by workers. And this capital is born to expand or die. To be useful, the investment must result not only in a profit but in a growing rate of profit.
Market relations isn’t a conspiracy plotted by a group of secret schemers. Marx who pointed out the truly anarchistic nature of modern industrial capitalism - an irrational, disorganized hodge-podge operation that enormously rewards price fixers, crooks, gangsters, exploiters, con artists, gamblers, stock manipulators, and all manner of corruption. It's a crazy and ruthless economy that survives by inflicting misery on untold billions. Marx who pointed out the truly anarchistic nature of modern industrial capitalism - an irrational, disorganized hodge-podge operation that enormously rewards price fixers, crooks, gangsters, exploiters, con artists, gamblers, stock manipulators, and all manner of corruption. The market is coordinated by trade (what sells and what doesn't) "trade" doesn't determine basic prices anyway. Rather than being basically dependent upon supply and demand, prices in the marketplace actually fluctuate around the real value inherent in a commodity.
The value of a commodity comes from the labour invested in it, including the labour that manufactured the machinery and extracted the raw materials used to create the item. And the boss' profits do not come from his smarts or his capital investment or his mark-up, but from the value created by labour - specifically, surplus value.
Surplus value derives from unpaid wages. The worker is never paid for the value of the product, only for the value of her or his labour time, which is considerably less, and which meanders widely depending upon the historical, cultural and social conditions of a country.
With Labour-power you get more out of it than you put in. Workers produce a commodity which has more value than what they get in wages to keep them functioning. This differential is surplus value, which is the source of capital.
Socialists will produce for use according to a rational plan without a thought for the idea of profit. And with no insatiable parasitic class to maintain, a socialist society will produce abundance for all the global human family