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Intensive Stage
Intensive stage, or by its full name, ''predominantly intensive stage of accumulation'' pertains to one of the periodizations of capitalism in economics theory, as proposed by Aglietta (1976). It is the second stage of capitalism: when the extensive stage becomes exhausted, expansion of (commodity) production is reduced to the increase in productivity of labour, or to the ''intensification'' of production. The extensive stage reached its limits in England by the 1810s and after a lease of life through imperial expansion, definitively by the 1860s; in Germany, by the 1880s; in the US, by the 1920s (Aglietta, 1976); in Brazil, by the 1970s. In contemporary capitalism (or Late capitalism) it is generalized over virtually the whole world economy and some see itself having reached its limits with the exhaustion of the post-war boom by the mid-1960s. It is disputed whether the social organization—or mode of production—based on commodity production and wage labour, that is to say, c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Economics Theory
Economics () is a behavioral science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyses what is viewed as basic elements within economies, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and investment expenditure interact; and the factors of production affecting them, such as: labour, capital, land, and enterprise, inflation, economic growth, and public policies that impact these elements. It also seeks to analyse and describe the global economy. Other broad distinctions within economics include those between positive economics, describing "what is", and normative economics, advocating "what ought ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Extensive Stage
Extensive stage, or by its full name, the ''predominantly extensive stage of accumulation'', pertains to one of the periodizations of capitalism, as proposed by Aglietta (1976). It is the first stage of capitalism. It is also known as the early stage. During the extensive stage, room exists for the growth of production and capitalist means of production, including wages and modes of labor. It is characterized by high rates of economic growth. When the extensive stage ends, it is followed by the intensive stage (intensive accumulation). Karl Marx Karl Marx (; 5 May 1818 – 14 March 1883) was a German philosopher, political theorist, economist, journalist, and revolutionary socialist. He is best-known for the 1848 pamphlet '' The Communist Manifesto'' (written with Friedrich Engels) ... described this stage as exhibited in England as "The so-called primitive accumulation". References *Aglietta, Michel, ''Régulation et crises du capitalisme'' Maspéro, Paris, 1976 *Agliett ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Commodity
In economics, a commodity is an economic goods, good, usually a resource, that specifically has full or substantial fungibility: that is, the Market (economics), market treats instances of the good as equivalent or nearly so with no regard to who Production (economics), produced them. The price of a commodity good is typically determined as a function of its market as a whole: well-established physical commodities have actively traded spot market, spot and derivative (finance), derivative markets. The wide availability of commodities typically leads to smaller profit margins and diminishes the importance of factors (such as brand, brand name) other than price. Most commodities are raw materials, basic resources, agriculture, agricultural, or mining products, such as iron ore, sugar, or grains like rice and wheat. Commodities can also be mass-produced unspecialized products such as chemical substance, chemicals and computer memory. Popular commodities include Petroleum, crude ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Late Capitalism
The concept of late capitalism (in German: ''Spätkapitalismus''), also known as late-stage capitalism, was first used by the German social scientist Werner Sombart (1863–1941) in 1928, to describe the new capitalist order emerging at that time. He claimed that it was the beginning of a new stage in the history of capitalism. As a young man, Sombart was a socialist who associated with Marxist intellectuals and the German social-democratic party. As a mature academic who became well known for his own sociological writings, Sombart had a sympathetically critical attitude to the ideas of Karl Marx. Sombart's clearly written texts and lectures helped to make "capitalism" a household word in Europe, as the name of a socioeconomic system with a specific structure and dynamic, a history, a mentality, a dominant morality and a culture. The use of the term "late capitalism" to describe the nature of the modern epoch existed for four decades in continental Europe, before it began to be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Capitalism
Capitalism is an economic system based on the private ownership of the means of production and their use for the purpose of obtaining profit. This socioeconomic system has developed historically through several stages and is defined by a number of basic constituent elements: private property, profit motive, capital accumulation, competitive markets, commodification, wage labor, and an emphasis on innovation and economic growth. Capitalist economies tend to experience a business cycle of economic growth followed by recessions. Economists, historians, political economists, and sociologists have adopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice. These include '' laissez-faire'' or free-market capitalism, state capitalism, and welfare capitalism. Different forms of capitalism feature varying degrees of free markets, public ownership, obstacles to free competition, and state-sanctioned social poli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Service (economics)
A service is an act or use for which a consumer, company, or government is willing to payment, pay. Examples include work done by barbers, doctors, lawyers, mechanics, banks, insurance companies, and so on. Public services are those that society (nation state, fiscal union or region) as a whole pays for. Using resources, skill, ingenuity, and experience, service providers benefit service consumers. Services may be defined as intangible acts or performances whereby the service provider provides value to the customer. Key characteristics Services have three key characteristics: Intangibility Services are by definition intangible. They are not manufactured, transported or stocked. One cannot store services for future use. They are produced and consumed simultaneously. Perishability Services are perishable in two regards: * Service-relevant resources, processes, and systems are assigned for service delivery during a specific period in time. If the service consumer does not request ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Periodizations Of Capitalism
A periodization of capitalism seeks to distinguish stages of development that help understanding of features of capitalism through time. The best-known periodizations that have been proposed distinguish these stages as: #Early / monopoly / state monopoly capitalism ( Sweezy) #Free trade / monopoly / finance capitalism ( Hilferding) #Early capitalism ( primitive accumulation) / colonialism / imperialism ( Hobson, Lenin, Bukharin) # Extensive stage / intensive stage / late capitalism ( Aglietta) The Marxist periodization of capitalism into the stages: agricultural capitalism, merchant capitalism, industrial capitalism and state capitalism. Another periodization includes merchant capitalism, industrial and finance capitalism, and global capitalism. See also *Rudolf Hilferding *Ernest Mandel *Paul Sweezy Paul Marlor Sweezy (April 10, 1910 – February 27, 2004) was a Marxist economist, political activist, publisher, and founding editor of the long-running magazine ''Monthly ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
