The owner of the means of production is in a position to purchase the labor power of the worker. By using the means of production, the worker produces new goods which become the property of the capitalist. The essential point about this process is the relation between what the worker produces and what he is paid, both measured in terms of real value. Insofar as the labor contract is "free, " what the worker receives is determined not by the real value of the goods he produces, but by his minimum needs and by the capitalists' requirements for labor power in relation to the number of workers competing for jobs. It is important to understand that even in theory the payment of the worker is not determined by the value of his product. Albert Einstein
About This Quote

The theory of economic inequality that developed in the 19th century contains a number of important concepts. One of the most important is that of "value," referring to what is produced. Value is what you get from the work you do, not what the employer values it at. The worker's value is determined by his or her need for food, shelter, and clothing, which are considered the essential requirements to live a good life. In other words, what you do has a real value for yourself, not the employer.

Source: Why Socialism?

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