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Superprofit
Superprofit, surplus profit or extra surplus-value (german: extra-Mehrwert) 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. Although Marx does not discuss this in detail (beyond referring to international productivity differentials in the world economy), there could be included a fourth c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Profit (economics)
In economics, profit is the difference between the revenue that an economic entity has received from its outputs and the total cost of its inputs. It is equal to total revenue minus total cost, including both explicit and 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 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 minimum profit level that a company can achieve to justify its con ... [...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 the owner of that product 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 ... [...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 the owner of that product 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 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] |
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 the owner of that product 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 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] |
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. 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; that section which pushes forward all others." As the vanguard party, the Bolsheviks viewed history through the theoretical framework of dialectical materialism, which sanctioned political commitment to the successful overthrow o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Karl Marx
Karl Heinrich Marx (; 5 May 1818 – 14 March 1883) was a German philosopher, economist, historian, sociologist, political theorist, journalist, critic of political economy, and socialist revolutionary. His best-known titles are the 1848 pamphlet ''The Communist Manifesto'' and the four-volume (1867–1883). Marx's political and philosophical thought had enormous influence on subsequent intellectual, economic, and political history. His name has been used as an adjective, a noun, and a school of social theory. Born in Trier, Germany, Marx studied law and philosophy at the universities of Bonn and Berlin. He married German theatre critic and political activist Jenny von Westphalen in 1843. Due to his political publications, Marx became stateless and lived in exile with his wife and children in London for decades, where he continued to develop his thought in collaboration with German philosopher Friedrich Engels and publish his writings, researching in the British Mus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Working Class
The working class (or labouring class) comprises those engaged in manual-labour occupations or industrial work, who are remunerated via waged or salaried contracts. Working-class occupations (see also " Designation of workers by collar colour") include blue-collar jobs, and most pink-collar jobs. Members of the working class rely exclusively upon earnings from wage labour; thus, according to more inclusive definitions, the category can include almost all of the working population of industrialized economies, as well as those employed in the urban areas (cities, towns, villages) of non-industrialized economies or in the rural workforce. Definitions As with many terms describing social class, ''working class'' is defined and used in many different ways. The most general definition, used by many socialists, is that the working class includes all those who have nothing to sell but their labour. These people used to be referred to as the proletariat, but that term has gone out of ... [...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. He authored multiple books on this topic. He has published more than 150 scientific publications. Awards *Hungarian Academy awards (1994) *Order of Merit of the Hungarian Republic The Hungarian Order of Merit ( hu, Magyar Érde ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Comparative Advantage
In an economic model, agents have a comparative advantage over others in producing a particular good if they can produce that good 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 work gains from trade for individuals, firms, or nations, which arise from differences in their factor endowments or technological progress. (The absolute advantage, comparing output per time (labor efficiency) or per quantity of input material (monetary efficiency), is generally considered more intuitive, but less accurate — as long as the opportunity costs of producing goods across countries vary, productive trade is possible.) 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Class Consciousness
In Marxism, class consciousness is the set of beliefs that a person holds regarding their social class or economic rank in society, the structure of their class, and their class interests. According to Karl Marx, it is an awareness that is key to sparking a revolution that would "create a dictatorship of the proletariat, transforming it from a wage-earning, property-less mass into the ruling class". Marxist theory While German theorist Karl Marx rarely used the term "class consciousness", he did make the distinction between "class in itself", which is defined as a category of people having a common relation to the means of production; and a "class for itself", which is defined as a stratum organized in active pursuit of its own interests. Defining a person's social class can be a determinant for their awareness of it. Marxists define classes on the basis of their relation to the means of production, especially on whether they own capital. Non-Marxist social scientists distingu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Overexploitation
Overexploitation, also called overharvesting, 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 is also used and defined some ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Imperialism
In historical contexts, New Imperialism characterizes a period of colonial expansion by European powers, the United States, and Japan during the late 19th and early 20th centuries. Com The period featured an unprecedented pursuit of overseas territorial acquisitions. At the time, states focused on building their empires with new technological advances and developments, expanding their territory through conquest, and exploiting the resources of the subjugated countries. During the era of New Imperialism, the Western powers (and Japan) individually conquered almost all of Africa and parts of Asia. The new wave of imperialism reflected ongoing rivalries among the great powers, the economic desire for new resources and markets, and a "civilizing mission" ethos. Many of the colonies established during this era gained independence during the era of decolonization that followed World War II. The qualifier "new" is used to differentiate modern imperialism from earlier imperi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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