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Socially Necessary Labour Time
Socially necessary labour time in Marx's critique of political economy is what regulates the exchange value of commodities in trade and consequently constrains producers in their attempt to economise on labour. It does not 'guide' them, as it can only be determined after the event and is thus inaccessible to forward planning. Unlike individual labour hours in the classical labour theory of value formulated by Adam Smith and David Ricardo, Marx's exchange value is conceived as a proportion (or 'aliquot part') of society's labour-time. Marx did not define this concept in computationally rigorous terms, allowing for flexibility in using it in specific instances to relate average levels of labour productivity to social needs manifesting themselves as monetarily effective market demand for commodities. In addition, although it is axiomatic that socially necessary labour input determines commodity values, precise numerical calculation of such an input in relation to the value of a gi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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 Museum Re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demand
In economics, demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given time. The relationship between price and quantity demand is also called the demand curve. Demand for a specific item is a function of an item's perceived necessity, price, perceived quality, convenience, available alternatives, purchasers' disposable income and tastes, and many other options. Factors influencing demand Innumerable factors and circumstances affect a consumer's willingness or to buy a good. Some of the common factors are: The price of the commodity: The basic demand relationship is between potential prices of a good and the quantities that would be purchased at those prices. Generally, the relationship is negative, meaning that an increase in price will induce a decrease in the quantity demanded. This negative relationship is embodied in the downward slope of the consumer demand curve. The assumption of a negative relationship is reaso ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Surplus 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] |
Moishe Postone
Moishe Postone (April 17, 1942 – March 19, 2018) was a Canadian historian and social theorist. He was a professor of history at the University of Chicago, where he was part of the Committee on Jewish Studies. Life and career Postone was born on April 17, 1942, the son of a Canadian rabbi. He received his PhD from University of Frankfurt in 1983. His research interests included modern European intellectual history; social theory, especially critical theories of modernity; 20th-century Germany; antisemitism; and contemporary global transformations. He was co-editor with Craig Calhoun and Edward LiPuma of ''Bourdieu: Critical Perspectives'' and author of '' Time, Labor and Social Domination: A Reinterpretation of Marx's Critical Theory''. He was also co-editor with Eric Santner of ''Catastrophe and Meaning: The Holocaust and the Twentieth Century'', a collection of essays that consider the meaning of the Holocaust in twentieth-century history and its influence on historical p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Labor-time Calculation
Labor-time calculation is a method of economic calculation that uses labor time as the basic unit of accounting and valuation. This method of calculation was advocated by the economists Otto Bauer, Helene Bauer and as an alternative to calculation in kind for a socialist economy. Otto Leichter criticized in-kind calculation on the basis that rational accounting required a general unit for comparing costs of heterogeneous goods. The basis for labor-time calculation is found in Karl Marx's analysis of value in capitalism. However, Marx was vehemently opposed to any proposal for using labor-time as the basis for socialist calculation because his concept of socially necessary labor time was a conceptual framework for understanding and analyzing value in capitalism. In Marx's view socialism would operate according to its own economic "laws of motion" distinct from those of capitalism. See also * Calculation in kind * Economic planning * Socialism * Socialist calculation debate * So ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Critique Of Political Economy
Critique of political economy or critique of economy is a form of Social criticism, social critique that rejects the various social categories and structures that constitute the mainstream discourse concerning the forms and modalities of resource allocation and income distribution in the economy. The critique also rejects economists' use of what its advocates believe are unrealistic axioms, faulty historical assumptions, and the Normative social influence, normative use of various description, descriptive narratives. They reject what they describe as mainstream economists' tendency to posit the economy as an A priori and a posteriori, a priori societal category. Those who engage in critique of economy tend to reject the view that the economy, and its categories, is to be understood as something Transhistoricity, transhistorical. They rather argue that it is a relatively new mode of resource distribution, which emerged along with modernity. Hence, it is seen as merely one of many ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marxian Economics
Marxian economics, or the Marxian school of economics, is a Heterodox economics, heterodox school of political economic thought. Its foundations can be traced back to Karl Marx, Karl Marx's Critique of political economy#Marx's critique of political economy, critique of political economy. However, unlike Critique of political economy, critics of political economy, Marxian economists tend to accept the concept of economy, the economy prima facie. Marxian economics comprises several different theories and includes multiple schools of thought, which are sometimes opposed to each other; in many cases Marxian analysis is used to complement, or to supplement, other economic approaches. Because one does not necessarily have to be politically Marxism, Marxist to be economically Marxian, the two adjectives coexist in usage, rather than being synonymous: They share a semantic field, while also allowing both connotation, connotative and denotation, denotative differences. Marxian economics ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anarchy, State, And Utopia
''Anarchy, State, and Utopia'' is a 1974 book by the American political philosopher Robert Nozick. It won the 1975 US National Book Award in category Philosophy and Religion, has been translated into 11 languages, and was named one of the "100 most influential books since the war" (1945–1995) by the UK ''Times Literary Supplement''. In opposition to ''A Theory of Justice'' (1971) by John Rawls, and in debate with Michael Walzer,The United States in the World – Just Wars and Just Societies: An Interview with Michael Walzer i Imprints Volume 7, Number 1, 2003 Nozick argues in favor of a |
Robert Nozick
Robert Nozick (; November 16, 1938 – January 23, 2002) was an American philosopher. He held the Joseph Pellegrino University Professorship at Harvard University,"Robert Nozick, 1938-2002". ''Proceedings and Addresses of the American Philosophical Association'', November 2002: 76(2). and was president of the . He is best known for his books '''' (1974), a |
Libertarianism
Libertarianism (from french: libertaire, "libertarian"; from la, libertas, "freedom") is a political philosophy that upholds liberty as a core value. Libertarians seek to maximize autonomy and political freedom, and minimize the state's encroachment on and violations of individual liberties; emphasizing the rule of law, pluralism, cosmopolitanism, cooperation, civil and political rights, bodily autonomy, free association, free trade, freedom of expression, freedom of choice, freedom of movement, individualism and voluntary association. Libertarians are often skeptical of or opposed to authority, state power, warfare, militarism and nationalism, but some libertarians diverge on the scope of their opposition to existing economic and political systems. Various schools of Libertarian thought offer a range of views regarding the legitimate functions of state and private power, often calling for the restriction or dissolution of coercive social institutions. Different categori ... [...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, 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 (SPD). Works * Ignaz Philipp Semmelweis: ''Offener Brief an sämmtliche Professoren der Geburtshilfe''. Universitäts-Buchdruckerei, Ofen 1862, p. III-VI (Kugelmann to Semmelweis 18. Juli 1861 and 10. August 1861.) * Rudolf Virchow: ''Mittheilung einer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equilibrium Price
In economics, economic equilibrium is a situation in which economic forces such as supply and demand are balanced and in the absence of external influences the ( equilibrium) values of economic variables will not change. For example, in the standard text perfect competition, equilibrium occurs at the point at which quantity demanded and quantity supplied are equal. Market equilibrium in this case is a condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal to the amount of goods or services produced by sellers. This price is often called the competitive price or market clearing price and will tend not to change unless demand or supply changes, and quantity is called the "competitive quantity" or market clearing quantity. But the concept of ''equilibrium'' in economics also applies to imperfectly competitive markets, where it takes the form of a Nash equilibrium. Understanding economic equilibriu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
