>>2565531>alienationthe theory of alienation is present in marx's 1844 manuscripts, and does not refer to "exploitation", but rather, the social abstraction of labour as such. that is to say, when labour is taken as something in-itself (rather than part of nature), then we establish society in relation to the subject of "labour" (e.g. class society). exploitation also occurs via alienation, since capital is "dead labour" which oppresses "living labour". thus, economic relations are the relations of labour to itself; in possession and dispossession. marx's solution is to abolish the category of labour itself.
>exploitationthe exploitation of labour also doesnt refer to the product of labour which is owed to the worker (since to marx, the wage is the value of labour), but rather, that the surplus labour is categorically dispossessed by the employment contract. the worker does not own his labour by right, but rather, he owns his "labour-power" (capacity to work) and sells it as a commodity. if you reduced the working day to only what was necessary, exploitation would not occur.
>if labor is presumed to not have innate valueto marx, value is not an "innate" or natural relationship, but is a social relationship defined by commodity exchange. thus, only commodities have value, and attain values in being purchased for money.
>falling rate of profitthis theory appears to originate in the work of adam smith, as recorded by the historical rate of interest, which decreases over time. smith stipulates that profits may only fall in relation to higher wages in the context of competition (which ricardo also situates as the precondition for the law of value), and without this, these conditions may be indefinitely suspended, as in the case of keynesian "imperfect competition" (monopoly) which may lead to higher profits by raising prices, for example.
>>2565618>Marx differs from Smith and Ricardo on some specifics.any "specific" examples?
>>2565863marx claims that the economic relations of labour in class society determines history