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Abstract labour and concrete labour refer to a distinction made by Karl Marx in his critique of political economy.It refers to the difference between human labour in general as economically valuable worktime versus human labour as a particular activity that has a specific useful effect within the (capitalist) mode of production.
The total labor power of society, which is embodied in the sum total of the values of all commodities produced by that society, counts here as one homogeneous mass of human labor power, composed though it be of innumerable individual units...The labor time socially necessary is that required to produce an article under the normal conditions of ...
CRS technologies implies that when inputs of both capital and labor is multiplied by a factor of k, the output also multiplies by a factor of k. For example, if both capital and labor inputs are doubled, output of the commodities is doubled. In other terms the production function of both commodities is "homogeneous of degree 1".
G.A. Cohen 'The Labour Theory of Value and the Concept of Exploitation', in his History Labour and Freedom. Duncan, Colin A.M. 1996. The Centrality of Agriculture: Between Humankind and The Rest of Nature. McGill–Queen's University Press, Montreal. ——2000. The Centrality of Agriculture: History, Ecology and Feasible Socialism.
Postone examines the fact that abstract labor is not (concrete) labor in general but has a unique social dimension that cannot be derived from (concrete) labor as such: it mediates a new, quasi-objective form of social interdependence. Abstract labor is a historically specific mediating function; it is the content or 'substance' of value. Labor ...
k is (homogeneous) capital w is the wage rate a is labour productivity n is the labour force. which are all functions of time (although the time subscripts have been suppressed for convenience) and the constants α is the rate of growth of labour productivity β is the rate of growth of the labour force
where Q is output, A is factor representing technology, K is the sum of the value of capital goods, and L is the labor input. The price of the homogeneous output is taken as the numéraire, so that the value of each capital good is taken as homogeneous with output. Different types of labor are assumed reduced to a common unit, usually unskilled ...
Wire-grid Cobb–Douglas production surface with isoquants A two-input Cobb–Douglas production function with isoquants. In economics and econometrics, the Cobb–Douglas production function is a particular functional form of the production function, widely used to represent the technological relationship between the amounts of two or more inputs (particularly physical capital and labor) and ...