'Black Friday' is the idea that the merchant only makes his yearly profit after Black Friday (1st of December). Until that time the merchant ostensibly operates 'in the red' (at a loss). 'black ink' being profit, 'red ink' being costs.
This is the same as Nassau Senior's proposition, arguing against a decrease in the length of the working day, that for the first 11 hours of a (then) 12 hour workday the manufacturer is at a loss (paying for wages, materials, machines and tools) and only turns a profit in the 12th hour. Marx showed that every moment that the worker toils a part of that moment is unpaid labor by which the capitalist steals those moments throughout the whole workday). "'Nassau Senior's last hour <https://www.google.com/search?q=nassau+senior%27s+last+hour&client=firefox-b-1-d&sca_esv=18e5535cf3e6f854&sxsrf=ADLYWIL02vMXojsRhfxhMVpx3XaGso3txg%3A1733170641051&ei=0RVOZ_vwAvDnkPIPkq2b2AI&ved=0ahUKEwi7nZTj84mKAxXwM0QIHZLWBisQ4dUDCA8&uact=5&oq=nassau+senior%27s+last+hour&gs_lp=Egxnd3Mtd2l6LXNlcnAiGW5hc3NhdSBzZW5pb3IncyBsYXN0IGhvdXIyBxAhGKABGAoyBxAhGKABGAoyBxAhGKABGAoyBxAhGKABGAoyBxAhGKABGApIxBVQxwZYtRJwAXgAkAEAmAFWoAGYA6oBATW4AQPIAQD4AQGYAgagArwDwgIOEAAYgAQYsAMYhgMYigXCAgsQABiABBiwAxiiBMICBRAhGKsCmAMAiAYBkAYGkgcBNqAH4CQ&sclient=gws-wiz-serp>' refers to a concept in economics, particularly within Marxist theory, where it describes the idea that a capitalist makes all their profit from the final hour of a worker's workday, as theorized by economist Nassau William Senior; essentially arguing that the first part of the workday only covers the cost of wages, with any profit coming solely from the last hour of labor. Key points about 'Nassau Senior's last hour': *"Origin:* "This idea comes from Nassau William Senior, a British economist who argued against labor reforms like shorter working hours by claiming that factory owners only made profits during the last hour of a worker's shift. *"Marxist critique:* "Karl Marx heavily criticized Senior's "last hour" theory, exposing it as a flawed argument that ignored the reality of how surplus value is generated throughout the entire working day, not just the final hour." Economic Manuscripts: Capital Vol. I - Chapter Nine [image: image.jpeg] Marxists Internet Archive https://www.marxists.org › archive › marx › works <https://www.marxists.org/archive/marx/works/1867-c1/ch09.htm> *"SENIOR'S* '*LAST HOUR*'. One fine morning, in the year 1836, *Nassau* W. *Senior*, who may be called the bel- <https://www.google.com/search?client=firefox-b-1-d&q=bel-esprit+>esprit <https://www.google.com/search?client=firefox-b-1-d&q=bel-esprit+>of English economists..." -- JAI -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#33848): https://groups.io/g/marxmail/message/33848 Mute This Topic: https://groups.io/mt/109888455/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/13617172/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
