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The division of labour is the separation of the tasks in any economic system or organisation so that participants may specialise (specialisation).Individuals, organisations, and nations are endowed with or acquire specialised capabilities, and either form combinations or trade to take advantage of the capabilities of others in addition to their own.
Fordism is an industrial engineering and manufacturing system that serves as the basis of modern social and labor-economic systems that support industrialized, standardized mass production and mass consumption. The concept is named after Henry Ford.
Econodynamics demonstrates, and this is an achievement of V.N. Pokrovskii, that the observed substitution of labour be capital is, in fact, the substitution of labour by work of external energy sources, and the statement about the productive power of capital is a hoax that hides the real role of labor and energy in the production of value.
The area of economics that focuses on production is called production theory, and it is closely related to the consumption (or consumer) theory of economics. [2] The production process and output directly result from productively utilising the original inputs (or factors of production). [3] Known as primary producer goods or services, land ...
production of income, versus distribution of income; In most cases, using these distinctions, it would be obvious whether the labour was capitalistically productive or not, but in a minority of cases it would be not altogether clear or controversial. In part, that is because the division of labour is not static but constantly evolving.
Labor-power might be seen as a stock which can produce a flow of labor. Labor, not labor power, is the key factor of production for Marx and the basis for earlier economists' labor theory of value. The hiring of labor power only results in the production of goods or services ("use-values") when organized and regulated (often by the "management ...
International division of labor. Through mechanization and productivity increases achieved by capitalist production, the allocation of human labour between agriculture, manufacturing industries, and services (the so-called primary, secondary, and tertiary sectors of the economy) is altered nationally and internationally.
Thus, Marx's value theory offers an interpretation, generalisation or explanation concerning the "grand averages" of the relative price movements of products, and of economic behaviour in capitalist production as a social system, but it is not possible to deduce specific real product-prices from product-values according to some mathematical ...