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In Marxist theory, societies consist of two parts: the base (or substructure) and superstructure. The base refers to the mode of production which includes the forces and relations of production (e.g. employer–employee work conditions, the technical division of labour , and property relations) into which people enter to produce the necessities ...
Marx regarded the TRPF as a general tendency in the development of the capitalist mode of production. Marx maintained that it was only a tendency, and that there are also "counteracting factors" operating which had to be studied as well. The counteracting factors were factors that would normally raise the rate of profit.
Marx built much of the formal economic analysis found in Capital on Ricardo's theory of the economy. Marx also criticized two features of "bourgeois economy" he perceived as main factors preventing full realization of society's production power: ownership of the means of production, and allegedly irrational operation of the economy, which leads ...
Differential ground rent and absolute ground rent are concepts used by Karl Marx [1] in the third volume of Das Kapital [2] to explain how the capitalist mode of production would operate in agricultural production, [3] under the condition where most agricultural land was owned by a social class of land-owners [4] who could obtain rent income from farm production. [5]
The Marxist theory of historical materialism understands society as fundamentally determined by the material conditions at any given time—this means the relationships which people enter into with one another in order to fulfill their basic needs, for instance to feed and clothe themselves and their families. [17]
According to Marx's theory, investment capital is likely to shift out of production activities where the rate of profit is low and toward activities where profitability is higher; [23] the "leading" sectors of industry are those where profitability is highest (today, these are mainly in the production of computer facilities & hi-tech ...
Instrumental Marxism, or elite model, is a theory which reasons that policy makers in government and positions of power tend to "share a common business or class background, and that their decisions will reflect their business or class interests". [1]
It begins with the basic tenets of Marxism, but moves away from the mode of production as the starting point for analysis and includes factors other than class, such as gender, ethnicity etc. and a reflexive relationship between the base and superstructure. Marxism remains a powerful theory in some unexpected and relatively obscure places and ...