I Think The Labor Theory Of Value Just Explained Luxury Branding To Me

thepeoplesfriend:

thepeacockangel:

thepeacockangel:

So the labor theory of value actually just explained to me why a Ralph Lauren t-shirt costs twice as much as a plain one. The labor of branding is accepted as socially necessary labor, so although the cost of producing the material of the t-shirt remains the same, the cost of producing the image associated with the brand of the t-shirt is added into the cost, I think… maybe.

Cause the amount of labor power involved in creating the idea of Ralph Lauren is immense, yeah?

If it got cheaper and easier to create prestige value for goods, then the value of branded goods would fall… I think

No I’d argue that luxury branding functions via an imaginary outside of the function of the labor theory of value. That is adding Ralph Lauren to a t-shirt of similar quality doesn’t increase its use value or social value but rather its exchange value.

I meant exchange value.  It certainly doesn’t increase its use value, but like I do think it exists within the labor theory of value… there’s a bit about shoes (Mr Jones, in capital) and socially necessary labor.  Mr. Jones has his workers produce 100,000 pairs of shoes (far below the country’s demand for shoes) but he has no way of knowing whether those shoes will be purchased, and their being purchased is the only way of validating the labor required to produce them as socially necessary (within a capitalist context) and basically they have no exchange value until exchanged, if they aren’t bought no value has been produced.

Marx goes on to say if an artist creates a beautiful piece of China but finds no buyer, they have produced no value, even if they are later, after their death, celebrated as a genius and national treasure, they have within the context of the labor theory of value created no value.

Thus the labor involved in creating Ralph Lauren is deemed socially necessary, as the commodities are purchased, and did involve the additional labor of creating the Ralph Lauren brand, it’s not a judgement of merit, but it does work within the labor theory of value, I think.