Relative surplus value

Here the value of labour capacity falls, and therefore the necessary labour time too, not because the price of labour capacity has fallen below its value but because its value has itself fallen, i.e. because less labour time is objectified in the labour capacity, and therefore less labour time is required for its reproduction. In this case surplus labour time grows because necessary labour time has diminished. A part of the overall working day which was previously reserved for necessary labour is now set free, is annexed to the surplus labour time. A part of the necessary labour time is converted into surplus labour time; hence a portion of the product, which previously entered the wage, now enters the surplus value (the capitalist’s gain).