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Value Form
The value-form or form of value (''"Wertform"'' in German) is an important concept in Karl Marx's critique of political economy, discussed in the first chapter of ''Capital, Volume 1''. It refers to the ''social form'' of tradeable things as units of value, which contrast with their tangible features, as objects which can satisfy human needs and wants or serve a useful purpose. The physical appearance or the price tag of a traded object may be directly observable, but the meaning of its social form (as an object of value) is not. Marx intended to correct errors by the classical economists in defining exchange, value, money and capital, by showing precisely how these economic categories evolved out of the development of trading relations. Playfully narrating the "metaphysical subtleties and theological niceties" of ordinary things when they become instruments of trade, Marx provides a brief social morphology of value as such — what its ''substance'' really is, the ''forms'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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), and his three-volume (1867–1894), a critique of classical political economy which employs his theory of historical materialism in an analysis of capitalism, in the culmination of his life's work. Marx's ideas and their subsequent development, collectively known as Marxism, have had enormous influence. Born in Trier in the Kingdom of Prussia, Marx studied at the universities of Bonn and Berlin, and received a doctorate in philosophy from the University of Jena in 1841. A Young Hegelian, he was influenced by the philosophy of Georg Wilhelm Friedrich Hegel, and both critiqued and developed Hegel's ideas in works such as '' The German Ideology'' (written 1846) and the '' Grundrisse'' (written 1857–1858). While in Paris, Marx wrote ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Post-Marxism
Post-Marxism is a perspective in critical social theory which radically reinterprets Marxism, countering its association with economism, historical determinism, anti-humanism, and class reductionism, whilst remaining committed to the construction of socialism. Most notably, post-Marxists are anti-essentialist, rejecting the primacy of class struggle, and instead focus on building radical democracy. Post-Marxism can be considered a synthesis of post-structuralist frameworks and neo-Marxist analysis, in response to the decline of the New Left after the protests of 1968. In a broader sense, post-Marxism can refer to Marxists or Marxian-adjacent theories which break with the old worker's movements and socialist states entirely, in a similar sense to post-leftism, and accept that the era of mass revolution premised on the Fordist worker is potentially over. The term "post-Marxism" first appeared in Ernesto Laclau and Chantal Mouffe's theoretical work '' Hegemony and Sociali ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Labour Power
Labour power (; ) is the capacity to work, a key concept used by Karl Marx in his critique of capitalist political economy. Marx distinguished between the capacity to do the work, i.e. labour power, and the physical act of working, i.e. labour. Human labour power exists in any kind of society, but on what terms it is traded or combined with means of production to produce goods and services has historically varied greatly. The general idea of labour-power had existed previously in classical political economy. Adam Smith's ''The Wealth of Nations'' and David Ricardo's '' On the Principles of Political Economy and Taxation'' already referred to the "productive powers of labour". However, Marx made the concept much more precise, critically examining the functions of labour-power in production, how labour-power is used, organized and exploited, and how it is typically valued and priced in bourgeois society. Under capitalism, according to Marx, the ''productive powers of labour'' a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Simple Commodity Production
Simple commodity production (, also translated as petty commodity production), is a term coined by Friedrich Engels in 1894 when he had compiled and edited the third volume of Marx's ''Capital''. It refers to productive activities under the conditions of what Karl Marx had called the "simple exchange" or "simple circulation" of commodities, where independent producers trade their own products to obtain other products of equivalent value. The use of the adjective ''simple'' is not intended to refer to the nature of the producers or of their production, but rather to the relatively simple and straightforward exchange processes involved, from an economic perspective. As discussed below, both Karl Marx and Engels claimed explicitly that the law of value applied also to simple exchange, and that the operation of this law is modified (or, as Marx sometimes says, "inverted") by the capitalist mode of production when all the inputs and outputs of production (including means of production ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Louis Kugelmann
Louis Kugelmann, or Ludwig Kugelmann (19 February 1828 in Lemförde – 9 January 1902 in Hannover), was a German gynecologist, social democratic thinker and activist, and confidant of Marx and Engels. Personal life Kugelmann married Gertrud Oppenheim (born 27 January 1839 in Bonn; died 1920 in Wiesbaden). They had a daughter Franziska Kugelmann (9 October 1858 in Hannover – 31 August 1939 in Wiesbaden).Letters from the town archives of Hannover and Wiesbaden. He met with Karl Marx several times, visited him in Hannover Hanover ( ; ; ) is the capital and largest city of the States of Germany, German state of Lower Saxony. Its population of 535,932 (2021) makes it the List of cities in Germany by population, 13th-largest city in Germany as well as the fourth-l ..., and exchanged letters with him and Friedrich Engels during the period 1862 to 1893. He was a member of the International Workingmen's Association and later the Social Democratic Party of Germany. Wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Moral Value
Value theory, also called ''axiology'', studies the nature, sources, and types of values. It is a branch of philosophy and an interdisciplinary field closely associated with social sciences such as economics, sociology, anthropology, and psychology. Value is the worth of something, usually understood as covering both positive and negative degrees corresponding to the terms ''good'' and ''bad''. Values influence many human endeavors related to emotion, decision-making, and action. Value theorists distinguish various types of values, like the contrast between intrinsic and instrumental value. An entity has intrinsic value if it is good in itself, independent of external factors. An entity has instrumental value if it is useful as a means leading to other good things. Other classifications focus on the type of benefit, including economic, moral, political, aesthetic, and religious values. Further categorizations distinguish absolute values from values that are relative to somethin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aesthetic Value
Aesthetics (also spelled esthetics) is the branch of philosophy concerned with the nature of beauty and taste, which in a broad sense incorporates the philosophy of art.Slater, B. H.Aesthetics ''Internet Encyclopedia of Philosophy,'' , accessed on 15 September 2024. Aesthetics examines values about, and critical judgments of, artistic taste and preference. It thus studies how artists imagine, create, and perform works of art, as well as how people use, enjoy, and criticize art. Aesthetics considers why people consider certain things beautiful and not others, as well as how objects of beauty and art can affect our moods and our beliefs. Aesthetics tries to find answers to what exactly is art and what makes good art. It considers what happens in our minds when we view visual art, listen to music, read poetry, enjoy delicious food, and engage in large artistic projects like creating and experiencing plays, fashion shows, films, and television programs. It can also focus on how ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cryptocurrency
A cryptocurrency (colloquially crypto) is a digital currency designed to work through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. Individual coin ownership records are stored in a digital ledger or blockchain, which is a computerized database that uses a consensus mechanism to secure transaction records, control the creation of additional coins, and verify the transfer of coin ownership. The two most common consensus mechanisms are proof of work and proof of stake. Despite the name, which has come to describe many of the fungible blockchain tokens that have been created, cryptocurrencies are not considered to be currencies in the traditional sense, and varying legal treatments have been applied to them in various jurisdictions, including classification as commodities, securities, and currencies. Cryptocurrencies are generally viewed as a distinct asset class in practice. The first cryptocu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securitization
Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans, or credit card debt obligations (or other non-debt assets which generate receivables) and selling their related cash flows to third party investors as securities, which may be described as bonds, pass-through securities, or collateralized debt obligations (CDOs). Investors are repaid from the principal and interest cash flows collected from the underlying debt and redistributed through the capital structure of the new financing. Securities backed by mortgage receivables are called mortgage-backed securities (MBS), while those backed by other types of receivables are asset-backed securities (ABS). The granularity of pools of securitized assets can mitigate the credit risk of individual borrowers. Unlike general corporate debt, the credit quality of securitized debt is non- stationary due to changes in volatility that are time ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wolfgang Streeck
Wolfgang Streeck (; born 27 October 1946) is a German economic sociologist and emeritus director of the Max Planck Institute for the Study of Societies in Cologne. Early life Streeck was born "just outside Münster", the son of refugees – ethnic Germans from eastern Europe displaced at the end of the Second World War. His mother was a Sudeten German from Czechoslovakia. Streeck studied sociology at the Goethe University Frankfurt and pursued graduate studies in the same discipline at Columbia University between 1972 and 1974. Career In 1974 he became assistant professor in sociology at the University of Münster and in 1986 finished his habilitation in sociology at Bielefeld University. Between 1988 and 1995 he worked as professor of sociology and industrial relations at the University of Wisconsin–Madison, returning to Germany in 1995 to take up the post of director of the Max Planck Institute for the Study of Societies and working as professor of sociology at the Uni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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] |
Econometrics
Econometrics is an application of statistical methods to economic data in order to give empirical content to economic relationships. M. Hashem Pesaran (1987). "Econometrics", '' The New Palgrave: A Dictionary of Economics'', v. 2, p. 8 p. 8–22 Reprinted in J. Eatwell ''et al.'', eds. (1990). ''Econometrics: The New Palgrave''p. 1 p. 1–34Abstract ( 2008 revision by J. Geweke, J. Horowitz, and H. P. Pesaran). More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference." An introductory economics textbook describes econometrics as allowing economists "to sift through mountains of data to extract simple relationships." Jan Tinbergen is one of the two founding fathers of econometrics. The other, Ragnar Frisch, also coined the term in the sense in which it is used today. A basic tool for econometrics is the multiple linear regression model. ''Econome ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
