Definition, Meaning & Synonyms

mais-valia

Noun

[maiz-vah-lee-ah]

Definition

Surplus value; a term used in economics to refer to the difference between the value produced by labor and the actual compensation paid to labor.

Examples

The concept of mais-valia is critical in understanding capitalist economies.
Many economists debate the implications of mais-valia on income inequality.
In his writings, Marx elaborates on the relationship between labor and mais-valia.

Meaning

Mais-valia is a concept primarily used in Marxist theory to describe the exploitation of labor inherent in capitalism, where workers produce more value than they receive in wages.