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Surplus-value
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" itself being coined by William Thompson (philosopher), William Thompson in 1824; however, it was not consistently distinguished from the related concepts of surplus labor and surplus product. The concept was subsequently developed and popularized by Karl Marx. Marx's formulation is the standard sense and the primary basis for further developments, though how much of Marx's concept is original and distinct from the Ricardian concept is disputed (see ). Marx's term is the German word "''Mehrwert''", which simply means value added (sales revenue minus the cost of materials used up), and is cognate to English "more worth". It is a major concept in Karl M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital, Volume IV
''Capital: A Critique of Political Economy'' (), also known as ''Capital'' or (), is the most significant work by Karl Marx and the cornerstone of Marxian economics, published in three volumes in 1867, 1885, and 1894. The culmination of his life's work, the text contains Marx's analysis of capitalism, to which he sought to apply his theory of historical materialism in a critique of classical political economy. 's second and third volumes were completed from manuscripts after Marx's death in 1883 and published by Friedrich Engels. Marx's study of political economy began in the 1840s, influenced by the works of the classical political economists Adam Smith and David Ricardo. His earlier works, including '' Economic and Philosophic Manuscripts of 1844'' and ''The German Ideology'' (1846, with Engels), laid the groundwork for his theory of historical materialism, which posits that the economic structures of a society (in particular, the forces and relations of production) are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marxian Economics
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 different theories and includes multiple schools of thought, which are sometimes opposed to each other; in many cases Marxian analysis is used to complement, or to supplement, other economic approaches. An example can be found in the works of Soviet economists like Lev Gatovsky, who sought to apply Marxist economic theory to the objectives, needs, and political conditions of the socialist construction in the Soviet Union, contributing to the development of Soviet political economy. Marxian economics concerns itself variously with the analysis of crisis in capitalism, the role and distribution of the surplus product and surplus value in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Added
Value added is a term in economics for calculating the difference between market value of a product or service, and the sum value of its constituents. It is relatively expressed by the supply-demand curve for specific units of sale. Value added is distinguished from the accounting term added value which measures only the financial profits earned upon transformational processes for specific items of sale that are available on the market. In business, ''total value added'' is calculated by tabulating the ''unit value added'' (measured by summing unit profit — the difference between sale price and production cost, unit depreciation cost, and unit labor cost) per each unit sold. Thus, total value added is equivalent to revenue minus intermediate consumption. Value added is a higher portion of revenue for integrated companies (e.g. manufacturing companies) and a lower portion of revenue for less integrated companies (e.g. retail companies); total value added is very nearly ap ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital, Volume I
''Capital. A Critique of Political Economy. Volume I: The Process of Production of Capital'' () is the first of three treatises that make up , a critique of political economy by the German philosopher and economist Karl Marx. First published on 14 September 1867, Volume I was the product of a decade of research and redrafting and is the only part of to be completed during Marx's life. It focuses on the aspect of capitalism that Marx refers to as the Capitalist mode of production (Marxist theory), capitalist mode of production or how capitalism organises society to produce goods and services. The first two parts of the work deal with the fundamentals of classical economics, including the nature of Value (economics), value, money, and commodities. In these sections, Marx defends and expands upon the labour theory of value as advanced by Adam Smith and David Ricardo. Starting with the next three parts, the focus of Volume I shifts to surplus value (the value of a finished commodi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Theories Of Surplus Value
''Theories of Surplus Value'' () is a draft manuscript written by Karl Marx between January 1862 and July 1863. It is mainly concerned with the Western Europe, Western European theorizing about ''Mehrwert'' (added value or surplus value) from about 1750, critically examining the ideas of British, French and German political economists about wealth creation and the profitability of industries. At issue are the source, forms and determinants of the magnitude of surplus-value and Marx tries to explain how after failing to solve basic contradictions in its Labor theories of value, labour theories of value the Classical economics, classical school of political economy eventually broke up, leaving only "vulgar political economy" which no longer tried to provide a consistent, integral theory of capitalism, but instead offered only an eclectic amalgam of theories which seemed pragmatically useful or which justified the rationality of the market economy. Background ''Theories of Surplus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
A Contribution To The Critique Of Political Economy
''A Contribution to the Critique of Political Economy'' () is a book by Karl Marx, first published in 1859. The book is mainly a critique of political economy achieved by critiquing the writings of the leading theoretical exponents of capitalism at that time: these were the political economists, nowadays often referred to as the classical economists; Adam Smith (1723–90) and David Ricardo (1772–1823) are the foremost representatives of the genre. Significance Much of the ''Critique'' was later incorporated by Marx into his ''magnum opus'', ''Capital'' (Volume I), published in 1867, and the ''Critique'' is generally considered to be of secondary importance among Marx's writings. This does not apply, however, to the Preface of the ''Critique''. It contains the first connected account of one of Marx's main theories: the materialist conception of history, and its associated "base and superstructure" model of society, which divides human social development into an economic-tec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Johann Karl Rodbertus
Johann Karl Rodbertus (August 12, 1805, in Greifswald, Swedish Pomerania – December 6, 1875, in Jagetzow), also known as Karl Rodbertus-Jagetzow, was a German economist and socialist and a leading member of the ''Linkes Zentrum'' (centre-left) in the Prussian national assembly. He defended the labor theory of value, as well as the view, which it implied, of interest or profit being theft. He believed that capitalist economies tend toward overproduction. Biography Rodbertus was also known as Rodbertus-Jagetzow from the name of the estate of Jagetzow, in Pomerania, which he bought in 1835. Rodbertus was the son of a professor of law, and himself studied law at Göttingen and Berlin. From these studies he went on to Heidelberg, where he took up philosophy. He travelled extensively in the Netherlands, France, and Switzerland before returning to settle down on his newly purchased estate (Jagetzow).G.D.H. Cole (1960), p.20 Rodbertus served from 1827 to 1832 in the Prussian justici ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Spargo
John Spargo (January 31, 1876 – August 17, 1966) was a British political writer who, later in life, became an expert in the history and crafts of Vermont. At first Spargo was active in the Socialist Party of America. A Methodist preacher, he tried to meld the Protestant Social Gospel with Marxist socialism in ''Marxian Socialism and Religion: A Study of the Relation of the Marxian Theories to the Fundamental Principles of Religion'' (1915). He also founded a settlement house in Yonkers, N.Y. Spargo moved steadily to the right after 1917 when he supported American intervention in World War I. With the AFL leader Samuel Gompers he organized the American Alliance for Labor and Democracy in 1917. Spargo helped draft the Colby Note that formalised the Wilson administration's anti-communist policies. He strongly denounced the Bolshevik Revolution in ''Bolshevism: The Enemy of Political and Industrial Democracy'' (1919). He opposed the foreign policy of the New Deal, especially it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charles Wentworth Dilke
Charles Wentworth Dilke (1789–1864) was an English liberal critic and writer on literature. Professional life He served for many years in the Navy Pay-Office, on retiring from which in 1830 he devoted himself to literary pursuits. Literary life His liberal political views and literary interests brought him into contact with James Henry Leigh Hunt, Leigh Hunt, the editor of ''The Examiner (1808–86), The Examiner''. He had in 1814–16 made a continuation of Robert Dodsley's ''Collection of English Plays'', and in 1829 he became part proprietor and editor of ''The Athenaeum (British magazine), The Athenaeum'' magazine, the influence of which he greatly extended. In 1846 he resigned the editorship, and assumed that of ''The Daily News (UK), The Daily News'', but contributed to ''The Athenaeum'' papers on Alexander Pope, Edmund Burke, Junius (writer), Junius, and others. His grandson, Sir Charles Dilke, 2nd Baronet, Sir Charles Dilke, published these writings in 1875 u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Die Neue Zeit
''Die Neue Zeit'' ("The New Times") was a German socialist theoretical journal of the Social Democratic Party of Germany (SPD) that was published from 1883 to 1923. Its headquarters was in Stuttgart, Germany. History and profile Founded by leading socialist politicians and theorists, the magazine's first edition was released on 1 January 1883. After the abolition of the Anti-Socialist Laws, the magazine was transformed from a monthly into a weekly on 1 October 1890. In 1901 it became the official magazine of the SPD and its property. The magazine's decline and end came with the hyperinflation of the 1920s. It became the most important organ of the SPD, competing with '' Sozialistische Monatshefte''. It was edited by Karl Kautsky and until their withdrawal from the SPD in 1917. Following that, the more right-wing Heinrich Cunow, who supported the First World War, took over as its chief editor. Eduard Bernstein's "Problems of socialism" articles where published in the periodica ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
