|
Superprofit
Superprofit, surplus profit or extra surplus-value () is a concept in Karl Marx's critique of political economy subsequently elaborated by Vladimir Lenin and other Marxist thinkers. Origin of the concept in Karl Marx's ''Capital'' The term superprofit (extra surplus-value) was first used by Marx in ''Das Kapital''. It refers to above-average enterprise profits, arising in three main situations: * Technologically advanced firms operating at above average productivity in a competitive growing market. * Under conditions of declining demand, only firms with above-average productivity would obtain the previous socially average profit rate as the rest would book lower profits. * Monopolies of resources or technologies, yielding what are effectively land rents, mining rents, or technological rents. Lenin's interpretation According to Leninism, superprofits are extracted from the workers in colonial (or Third World) countries by the imperialist powers (in the First World). Part of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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] |
Profit (economics)
In economics, profit is the difference between revenue that an economic entity has received from its outputs and total costs of its inputs, also known as surplus value. It is equal to total revenue minus total cost, including both Explicit cost, explicit and implicit cost, implicit costs. It is different from accounting profit, which only relates to the explicit costs that appear on a firm's financial statements. An accountant measures the firm's accounting profit as the firm's total revenue minus only the firm's explicit costs. An Economists, economist includes all costs, both explicit and implicit costs, when analyzing a firm. Therefore, economic profit is smaller than accounting profit. ''Normal profit'' is often viewed in conjunction with economic profit. Normal profits in business refer to a situation where a company generates revenue that is equal to the total costs incurred in its operation, thus allowing it to remain operational in a competitive industry. It is the mi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leninism
Leninism (, ) is a political ideology developed by Russian Marxist revolutionary Vladimir Lenin that proposes the establishment of the Dictatorship of the proletariat#Vladimir Lenin, dictatorship of the proletariat led by a revolutionary Vanguardism, vanguard party as the political prelude to the establishment of communism. Lenin's ideological contributions to the Marxist ideology relate to his theories on the vanguardism, party, Imperialism, the Highest Stage of Capitalism, imperialism, The State and Revolution, the state, and revolution. The function of the Leninist vanguard party is to provide the working classes with the political consciousness (education and organisation) and revolutionary leadership necessary to depose capitalism in the Russian Empire (1721–1917). Leninist revolutionary leadership is based upon ''The Communist Manifesto'' (1848), identifying the communist party as "the most advanced and resolute section of the working class parties of every country; tha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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] |
Overexploitation
Overexploitation, also called overharvesting or ecological overshoot, refers to harvesting a renewable resource to the point of diminishing returns. Continued overexploitation can lead to the destruction of the resource, as it will be unable to replenish. The term applies to natural resources such as water aquifers, grazing pastures and forests, wild medicinal plants, fish stocks and other wildlife. In ecology, overexploitation describes one of the five main activities threatening global biodiversity. Ecologists use the term to describe populations that are harvested at an unsustainable rate, given their natural rates of mortality and capacities for reproduction. This can result in extinction at the population level and even extinction of whole species. In conservation biology, the term is usually used in the context of human economic activity that involves the taking of biological resources, or organisms, in larger numbers than their populations can withstand. The term i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unequal Exchange
Unequal exchange is used primarily in Marxist economics, but also in ecological economics (more specifically also as ecologically unequal exchange), to describe the systemic hidden transfer of labor and ecological value from poor countries in the imperial periphery (mainly in the Global South) to rich countries and monopolistic corporations in the imperial core (mainly in the Global North) due to structural inequalities in the global economy. Due to biased terms of trade and the undervaluation of labor and goods from the global South compared to the North, poor countries are forced to export a much larger quantity of labor and resources than they import to maintain a monetary balance of trade. This enables the global North to achieve a net appropriation through trade, fostering development in the former while impoverishing the global South. The theory of unequal exchange is a rejection of the fundamental assumptions of Ricardian and neoclassical theories of comparative ad ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Neo-colonialism
Neocolonialism is the control by a state (usually, a former colonial power) over another nominally independent state (usually, a former colony) through indirect means. The term ''neocolonialism'' was first used after World War II to refer to the continuing dependence of former colonies on foreign countries, but its meaning soon broadened to apply, more generally, to places where the power of developed countries was used to produce a colonial-like exploitation. Neocolonialism takes the form of economic imperialism, globalization, cultural imperialism and conditional aid to influence or control a developing country instead of the previous colonial methods of direct military control or indirect political control ( hegemony). Neocolonialism differs from standard globalisation and development aid in that it typically results in a relationship of dependence, subservience, or financial obligation towards the neocolonialist nation. Coined by the French philosopher Jean-Paul Sar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monopolistic
A monopoly (from Greek and ) is a market in which one person or company is the only supplier of a particular good or service. A monopoly is characterized by a lack of economic competition to produce a particular thing, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller's marginal cost that leads to a high monopoly profit. The verb ''monopolise'' or ''monopolize'' refers to the ''process'' by which a company gains the ability to raise prices or exclude competitors. In economics, a monopoly is a single seller. In law, a monopoly is a business entity that has significant market power, that is, the power to charge overly high prices, which is associated with unfair price raises. Although monopolies may be big businesses, size is not a characteristic of a monopoly. A small business may still have the power to raise prices in a small industry (or market). A monopoly may also have monopsony control of a sector of a market. A mono ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Imperialism
In History, historical contexts, New Imperialism characterizes a period of Colonialism, colonial expansion by European powers, the American imperialism, United States, and Empire of Japan, Japan during the late 19th and early 20th centuries. The period featured an unprecedented pursuit of overseas territorial acquisitions. At the time, State (polity), states focused on building their empires with new technological advances and developments, Right of conquest, expanding their territory through conquest, and exploiting the resources of the subjugated countries. During the era of New Imperialism, the European powers (and Japan) individually conquered almost all of Scramble for Africa, Africa and parts of Western imperialism in Asia, Asia. The new wave of imperialism reflected ongoing International relations (1814–1919), rivalries among the great powers, the economic desire for new resources and markets, and a "civilizing mission" ethos. Many of the colonies established during t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Comparative Advantage
Comparative advantage in an economic model is the advantage over others in producing a particular Goods (economics), good. A good can be produced at a lower relative opportunity cost or autarky price, i.e. at a lower relative marginal cost prior to trade. Comparative advantage describes the economic reality of the gains from trade for individuals, firms, or nations, which arise from differences in their factor endowments or technological progress. David Ricardo developed the classical theory of comparative advantage in 1817 to explain why countries engage in international trade even when one country's workers are more efficient at producing ''every'' single good than workers in other countries. He demonstrated that if two countries capable of producing two commodities engage in the free market (albeit with the assumption that the capital and labour do not move internationally), then each country will increase its overall consumption by exporting the good for which it has a comparat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tibor Palánkai
Tibor Palánkai (born 1 March 1938) is a Hungarian economist, university teacher and member of the Hungarian Academy of Sciences. He has been awarded the Jean Monnet prize and multiple Hungarian awards. He was the vice-rector of the Karl Marx University of Economics between 1977 and 1983 and the rector of Budapest University of Economic Sciences between 1997 and 2000. He is an emeritus professor since 2008. Professional Work His fields of research include economics, macro-economics, world economics and international integration and European studies. He has received the Jean Monnet prize from the European commission for his pioneering role in European integration studies. One of his focus is the integration of Hungary into the European Union The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
