ing . ▁ ▁In ▁this ▁po lem ic , ▁Marx ▁sought ▁to ▁ref ute ▁the ▁theoretical ▁basis ▁for ▁the ▁economic ▁policy ▁of ▁Ric ard ian ▁social ist ▁John ▁West on . ▁West on ▁said ▁that ▁"( 1 ) ▁that ▁a ▁general ▁rise ▁in ▁the ▁rate ▁of ▁w ages ▁would ▁be ▁of ▁no ▁use ▁to ▁the ▁workers ; ▁( 2 ) ▁that ▁therefore , ▁etc ., ▁the ▁trade ▁un ions ▁have ▁a ▁harm ful ▁effect ". ▁In ▁the ▁process ▁of ▁critic izing ▁West on , ▁Marx ' s ▁exp licates ▁his ▁theories ▁of ▁sur plus ▁value ▁and ▁the ▁falling ▁rate ▁of ▁profit ▁in ▁conc ise ▁English . ▁ ▁Syn opsis ▁Marx ▁arg ues ▁that ▁because ▁there ▁are ▁economic ▁laws ▁gover ning ▁the ▁value ▁of ▁comm od ities ▁as ▁represented ▁by ▁the ▁social ▁relationship ▁of ▁w ages ▁and ▁price , ▁capital ists ▁cannot ▁raise ▁or ▁lower ▁w ages ▁merely ▁at ▁their ▁wh im , ▁nor ▁can ▁they ▁raise ▁prices ▁at ▁will ▁in ▁order ▁to ▁make ▁up ▁for ▁lost ▁prof its ▁resulting ▁from ▁an ▁increase ▁in ▁w ages . ▁At ▁the ▁heart ▁of ▁the ▁argument ▁is ▁the ▁labour ▁theory ▁of ▁value ▁and ▁the ▁related ▁prem ise ▁that ▁profit ▁represents ▁sur plus ▁value ▁created ▁by ▁labour ▁working ▁above ▁and ▁beyond ▁the ▁amount ▁needed ▁to ▁reproduce ▁itself , ▁as ▁represented ▁by ▁w ages ▁and ▁the ▁bu ying ▁power ▁of ▁w ages ▁viz . ▁the ▁price ▁of ▁comm od ities ▁( part icular ly ▁necess ities ). ▁In ▁other ▁words , ▁profit ▁is ▁what ▁is ▁left ▁over ▁after ▁pay