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Starting from the recognition that only a ‘labour theory of value’is able to provide a measure of the value of the surplus, in this essay we’d like to pose the question of how the labour theory of value must dynamically adjust to the capitalist system and the succession of different modes of accumulation. Specifically, we focus on structural changes that have invested and partially modified the process of enhancing the transition from industrial-Fordist to ‘bio-capitalism’, at least in that area of the world where this transformation has established itself and is present. It is in this passage that the labour theory of value-intended primarily as a theory of value-time work-requires a redefinition that is able to grasp the qualitative changes that have overtaken and undermined the traditional theory of value labour. In particular, it will be considered a specific form of value creation: one linked to the concept of affective labour. Finally, in the last and final section, we discuss the hypothesis of the theory of life-value, nodding briefly to the related theoretical problems in view of a future research agenda.