What Are Surplus Products?

Surplus product is the part of the product that represents surplus value. This is because Marx's complete theory of surplus value is examined in profit-making enterprises, that is, the surplus products produced must be converted into surplus value in the circulation process, so there is no need to strictly distinguish the two concepts of surplus product and surplus value. The existence of surplus products is the material basis for all socio-economic, political and cultural development. With surplus products, it is possible to expand reproduction and enable some people to engage in political, cultural, artistic, scientific, educational and other activities without material production. The emergence of surplus products is an important economic condition for class society. ^[1]

[shèng yú chn pn]

private

In the history of human society,

Relationship to surplus value

Capital cycle diagram

Surplus value is the value form of surplus product; surplus product is the product of surplus labor. In a society where the production of goods is dominant, the commodification of production determines that the surplus products produced by surplus labor become surplus value in the form of value, and it is manifested by the surplus value brought about by the capital invested in production and operation. In today's capitalist society and socialist society, the surplus products produced by the production of surplus labor in commoditization must take the form of value, thus becoming the common point of "capital" and "society". Just as surplus labor is not unique to any type of ownership or social basic system, and the surplus products produced by surplus labor take the form of value and become surplus value, it is not determined by the ownership or social basic system. Regardless of private ownership or public ownership, whether capitalist or socialist, as long as production is commoditized, the surplus product produced by its surplus labor takes the form of value, so there is surplus value. In the operation of the socialist market economy, in order to obtain greater economic benefits, the only way to promote socialist modernization is to improve the productivity of labor, increase the surplus labor time, and produce more surplus products through the advancement and application of science and technology. Only in the economy of all forms of ownership can the profits be maximized in the form of value and contribute to socialist construction.

Relationship with investment and savings

In an economy where the source of investment is social savings, when the investment is greater than the savings, it indicates that the remaining products of the year cannot meet the needs of investment expenditures, and the shortfall can only be made up by products produced this year, which will cause net inventory investment The amount of unwillingness to decrease, and the signal of a decrease in net inventory will stimulate manufacturers to increase output, thereby increasing the output of surplus products. When the investment is less than the savings, it indicates that the investment expenditure cannot absorb all the remaining products produced in the year, and it will open up a product backlog, resulting in an unwilling increase in net inventory. The signal that the amount of net inventory increases will guide manufacturers to reduce production and reduce Production reduces the output of surplus products.