Ad
related to: theory of surplus value definition government system
Search results
Results From The WOW.Com Content Network
Theories of Surplus Value. Theories of Surplus Value (German: Theorien über den Mehrwert) is a draft manuscript written by Karl Marx between January 1862 and July 1863. [ 1 ] It is mainly concerned with the Western European theorizing about Mehrwert (added value or surplus value) from about 1750, critically examining the ideas of British ...
Capitalism. In Marxian economics, surplus value is the difference between the amount raised through a sale of a product and the amount it cost to manufacture it: i.e. the amount raised through sale of the product minus the cost of the materials, plant and labour power. The concept originated in Ricardian socialism, with the term "surplus value ...
Marxian economics, or the Marxian school of economics, is a heterodox school of political economic thought. Its foundations can be traced back to Karl Marx's critique of political economy. However, unlike critics of political economy, Marxian economists tend to accept the concept of the economy prima facie. Marxian economics comprises several ...
t. e. In Karl Marx 's critique of political economy and subsequent Marxian analyses, the capitalist mode of production (German: Produktionsweise) refers to the systems of organizing production and distribution within capitalist societies. Private money-making in various forms (renting, banking, merchant trade, production for profit and so on ...
In Das Kapital (1867), Marx proposes that the motivating force of capitalism is in the exploitation of labor, whose unpaid work is the ultimate source of surplus value.The owner of the means of production is able to claim the right to this surplus value because they are legally protected by the ruling regime through property rights and the legally established distribution of shares which are ...
The rate of surplus value is a ratio of surplus labour time (s) to necessary labour time (v). Marx also refers to the rate of surplus value (s/v) as the rate of exploitation. Capitalists often maximise profits by manipulating the rate of surplus value, which can be done through the increase of surplus labour time.
The law of value originates in the "terms of exchange" established for different products. [citation needed] If a producer has to supply too much of his own product to get a different product, this has direct consequences for the additional time he has to work to sustain himself and the trading of his product.
In Marx's theory, there is a gap between the creation of surplus value in production and the realization of that surplus value via a sale. To realize a sale, a commodity must have a use value for someone, so that they purchase the commodity and complete the cycle M–C–M'. Capitalism, which is interested in value (money as wealth), must ...