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Necessary Labour
Surplus labour (German: ''Mehrarbeit'') is a concept used by Karl Marx in his critique of political economy. It means labour performed in excess of the labour necessary to produce the means of livelihood of the worker ("necessary labour"). The "surplus" in this context means the ''additional'' labour a worker has to do in their job, beyond earning their keep. According to Marxian economics, surplus labour is usually uncompensated (unpaid) labour. Origin Marx explains the origin of surplus labour in the following terms: The historical emergence of surplus labour is, according to Marx, also closely associated with the growth of trade (the economic exchange of goods and services) and with the emergence of a society divided into social classes. As soon as a permanent surplus product can be produced, the moral-political question arises as to how it should be distributed, and for whose benefit surplus-labour should be performed. The strong defeat the weak, and it becomes possible for ... [...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] |
Rate Of Exploitation
In Marxian economics, the rate of exploitation is the ratio of the total amount of unpaid labor done (surplus-value) to the total amount of wages paid (the value of labour power). The rate of exploitation is often also called the rate of surplus-value. Divergence of the two rates Marx did not regard the rate of surplus value and the rate of exploitation as necessarily identical, ''insofar'' as there was a divergence between surplus value ''realised'' and surplus value ''produced''. Thus, the quantity of surplus labour performed by workers in an enterprise might correspond to a value higher or lower than the surplus value actually ''realised'' as profit income upon sales of output. The implication is that if the gross profit volume was related to wage costs to establish the rate of surplus value, this might overstate or understate the real rate of labor-exploitation. Although this is a subtle point, it has sometimes played an important role in wage bargaining negotiations by trade ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michio Morishima
was a Japanese heterodox economist and public intellectual who was the Sir John Hicks Professor of Economics at the London School of Economics from 1970–88. He was also professor at Osaka University and member of the British Academy. In 1976 he won the Order of Culture (文化勲章, Bunka-kunshō). Career Originally desiring a career as a historical novelist, at the university Morishima pursued social science, studying both economics and sociology under Yasuma Takada. At Kyoto University, Morishima was rigorously trained in both mainstream neoclassical economic theory and Marxian economics. Mathematically gifted, in 1946, he graduated from Kyoto University and taught there in addition to Osaka University. He starteInstitute of Social and Economic Research(ISER) of Osaka University with Yasuma Takada. In 1960 he established with Nobel-laureate Lawrence R. Klein from the Economics Department of the University of Pennsylvania the International Economic Review (today publishe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Roemer
John E. Roemer (; born February 1, 1945 in Washington, D.C., to Ruth Roemer and Milton Roemer, namesake of Roemer's law) is an American economist and political scientist. He is the Elizabeth S. and A. Varick Stout Professor of Political Science and Economics at Yale University. Before Yale, he was on the economics faculty at the University of California, Davis, and before entering academia Roemer worked for several years as a labor organizer. He is married to Natasha Roemer, with whom he has two daughters. Roemer received his A.B. in mathematics ''summa cum laude'' from Harvard in 1966. He then enrolled as a graduate student in mathematics at the University of California, Berkeley. He became intensely involved in the anti-Vietnam-War movement, transferred to the doctoral program in economics, and was suspended by the university for his political activities. He taught mathematics in San Francisco secondary schools for five years. Eventually he returned to Berkeley and receive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Analytical Marxist
Analytical Marxism is an approach to Marxist theory that was prominent amongst English-speaking philosophers and social scientists during the 1980s. Described by G. A. Cohen as "non-bullshit Marxism", members of this school seek to apply the techniques of analytic philosophy, along with tools of modern social science such as rational choice theory, to the elucidation of the theories of Karl Marx and his successors. It was mainly associated with the ''September Group'', which was organized on the initiative of the social and political theorist Jon Elster, the economist and political scientist John Roemer, and G. A. Cohen. The group was characterized, in the words of David Miller, by "clear and rigorous thinking about questions that are usually blanketed by ideological fog." Other prominent analytical Marxists include the sociologist Erik Olin Wright and the political scientist Adam Przeworski. Origin Cohen's book, '' Karl Marx's Theory of History: A Defence'' (1978), in whi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are as a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Money was historically an emergent market phenomenon that possess intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar. Contexts which erode public confidence, such as the circulation of counterfeit money or domestic hyperinflation, can cause good money to lose its value. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Raul Prebisch
Raul, Raúl and Raül are the Italian, Portuguese, Romanian, Spanish, Galician, Asturian, Basque, Aragonese, and Catalan forms of the Anglo-Germanic given name Ralph or Rudolph. They are cognates of the French Raoul. Raul, Raúl or Raül may refer to the: * Raoul (founder of Vaucelles Abbey) (d. 1152), also known as Saint Raul * Raúl Acosta (born 1962), Colombian road cyclist * Raúl Alfonsín (1927–2009), former President of Argentina (1983–89) * Raúl Albiol (born 1985), Spanish footballer * Raul Amaya (born 1986), American mixed martial artist * Raúl Baena (born 1989), Spanish association football player * Raul Boesel (born 1957), Brazilian race car driver * Raúl Castañeda (born 1982), Mexican boxer * Raúl Castro (born 1931), First Secretary of the Communist Party of Cuba, brother of Fidel Castro * Raúl Correia (born 1993), Angolan footballer * Raúl Diago (born 1965), Cuban volleyball player * Raúl de Tomás (born 1994), Spanish footballer * Raul Di Blasio (bo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Terms Of Trade
The terms of trade (TOT) is the relative price of exports in terms of imports and is defined as the ratio of export prices to import prices. It can be interpreted as the amount of import goods an economy can purchase per unit of export goods. An improvement of a nation's terms of trade benefits that country in the sense that it can buy more imports for any given level of exports. The terms of trade may be influenced by the exchange rate because a rise in the value of a country's currency lowers the domestic prices of its imports but may not directly affect the prices of the commodities it exports. History The expression ''terms of trade'' was first coined by the US American economist Frank William Taussig in his 1927 book ''International Trade''. However, an earlier version of the concept can be traced back to the English economist Robert Torrens and his book ''The Budget: On Commercial and Colonial Policy'', published in 1844, as well as to John Stuart Mill's essay ''Of the L ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Samir Amin
Samir Amin ( ar, سمير أمين) (3 September 1931 – 12 August 2018) was an Egyptian-French Marxian economist, political scientist and world-systems analyst. He is noted for his introduction of the term Eurocentrism in 1988 and considered a pioneer of Dependency Theory. Biography Amin was born in Cairo, the son of a French mother and an Egyptian father (both medical doctors). He spent his childhood and youth in Port Said; there he attended a French high school, leaving in 1947 with a Baccalauréat. It was at high school that Amin was first politicized when, during the Second World War, Egyptian students were split between communists and nationalists; Amin belonged to the former group. By then Amin had already adopted a resolute stance against fascism and Nazism. While the upheaval against British domination in Egypt informed his politics, he rejected the idea that the enemy of their enemy, Nazi Germany, was the Egyptians' friend. In 1947 Amin left for Paris where he obta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Labour Power
Labour power (in german: Arbeitskraft; in french: force de travail) is a key concept used by Karl Marx in his critique of capitalist political economy. Marx distinguished between the capacity to do work, labour power, from the physical act of working, labour. 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. Under capitalism, according to Marx, the ''productive powers of labour'' appear as the ''creative power of capital''. Indeed, "labour power at work" becomes a component of capital, it functions as working capital. Work becomes just work, workers become an abstract labour force, and the control over work becomes mainly a management prerogative. Definition Karl Marx introduces the concept in chapter 6 of the first volume of ''Capital'', as follows: :"By labour-power or capacity for labour is to be understood the aggregate of those mental and physical c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Grundrisse
The ''Grundrisse der Kritik der Politischen Ökonomie'' (''Foundations of a Critique of Political Economy'') is an unfinished manuscript by the German philosopher Karl Marx. The series of seven notebooks was rough-drafted by Marx, chiefly for purposes of self-clarification, during the winter of 1857–8. Left aside by Marx in 1858, it remained unpublished until 1939. Contents The ''Grundrisse'' is very wide-ranging in subject matter and covers all six sections of Marx's critique of political economy (of which only one, the first volume of ''Das Kapital'', ever reached a final form). It is often described as the rough draft of ''Das Kapital'', although there is considerable disagreement about the exact relationship between the two texts, particularly around the issue of methodology. Due to its breadth and its incorporation of themes from Marx's earlier writings, the ''Grundrisse'' is central to Marx's body of work. Its subject matter includes the prices of production, relations ... [...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 denote forms of exploitation hidden in or underwriting trade. Originating, in the wake of the debate on the Singer–Prebisch thesis, as an explanation of the falling terms of trade for underdeveloped countries, the concept was coined in 1962 by the Greco-French economist Arghiri Emmanuel to denote an exchange taking place where the rate of profit has been internationally equalised, but wage-levels (or those of any other factor of production) have not. It has since acquired a variety of meanings, often linked to other or older traditions which perhaps then raise claims to priority. In the works of Paul A. Baran, and subsequently adopted in the dependency approach of Andre Gunder Frank, there is a related but distinct concern with the transfer of values due to superprofits. This did not refer to the terms of trade, but to th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
