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In Marx's theory, a commodity is something that is bought and sold, or exchanged in a relationship of trade. [4] It has value, which represents a quantity of human labor. [5] Because it has value, implies that people try to economise its use. A commodity also has a use value [6] and an exchange value. [7]
Commodification of animals is one of the earliest forms of commodification, which can be traced back to the time when domestication of animals began. [9] It includes animal slavery in all forms, [ 21 ] : xvi–xvii including use of animals for food , medicine , fashion and cosmetics , medical research , labor and transport , entertainment ...
The socialist mode of production, also known as socialism or communism, [a] is a specific historical phase of economic development and its corresponding set of social relations that emerge from capitalism in the schema of historical materialism within Marxist theory. The Marxist definition of socialism is that of production for use-value (i.e ...
In a conspectus and critique of Adam Smith's theory of value, Marx similarly gives a brief description of simple commodity production (although admittedly he did not use that terminology): "Let us assume that all workers are producers of commodities, and not only produce their commodities but also sell them.
Marx never provided a complete definition of the capitalist mode of production as a short summary, although in his manuscripts he sometimes attempted one. In a sense, it is Marx's three-volume work Capital (1867–1894; sometimes known by its German title, Das Kapital), as a whole that provides his "definition" of the capitalist mode of ...
Marx based his theory of history on the necessity of labor to ensure physical survival. In The German Ideology , Marx wrote that the first historical act was the production of means to satisfy material needs and that labor is a "fundamental condition of all history, which today, as thousands of years ago, must daily and hourly be fulfilled ...
In 20th-century discussions of Karl Marx's economics, the transformation problem is the problem of finding a general rule by which to transform the "values" of commodities (based on their socially necessary labour content, according to his labour theory of value) into the "competitive prices" of the marketplace.
In the Marxist theory of historical materialism, a mode of production (German: Produktionsweise, "the way of producing") is a specific combination of the: . Productive forces: these include human labour power and means of production (tools, machinery, factory buildings, infrastructure, technical knowledge, raw materials, plants, animals, exploitable land).