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Unproductive Labour
Productive and unproductive labour are concepts that were used in classical political economy mainly in the 18th and 19th centuries, which survive today to some extent in modern management discussions, economic sociology and Marxist or Marxian economic analysis. The concepts strongly influenced the construction of national accounts in the Soviet Union and other Soviet-type societies (see Material Product System). Classical political economy The classical political economists, such as Adam Smith and David Ricardo, raised the economic question of which kinds of labour contributed to increasing society's wealth, as against activities which do not increase wealth. In the introduction to ''The Wealth of Nations'', Smith spoke of the "annual labour" and "the necessaries and conveniences" a nation "annually consumes" before explaining that one of the two steps to increase wealth is reducing the amount of "unproductive labour". "Annual" and "annually" refer to a cyclical reproduction proc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Political Economy
Political economy is the study of how Macroeconomics, economic systems (e.g. Marketplace, markets and Economy, national economies) and Politics, political systems (e.g. law, Institution, institutions, government) are linked. Widely studied phenomena within the discipline are systems such as Market economy, labour markets and Financial market, financial markets, as well as phenomena such as Economic growth, growth, Distribution of wealth, distribution, Economic inequality, inequality, and International trade, trade, and how these are shaped by institutions, laws, and government policy. Originating in the 16th century, it is the precursor to the modern discipline of economics. Political economy in its modern form is considered an interdisciplinary field, drawing on theory from both political science and Neoclassical economics, modern economics. Political economy originated within 16th century western Ethics, moral philosophy, with theoretical works exploring the administration ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Factors Of Production
In economics, factors of production, resources, or inputs are what is used in the production process to produce output—that is, goods and services. The utilized amounts of the various inputs determine the quantity of output according to the relationship called the production function. There are four ''basic'' resources or factors of production: land, labour, capital and entrepreneur (or enterprise). The factors are also frequently labeled "producer goods or services" to distinguish them from the goods or services purchased by consumers, which are frequently labeled "consumer goods". There are two types of factors: ''primary'' and ''secondary''. The previously mentioned primary factors are land, labour and capital. Materials and energy are considered secondary factors in classical economics because they are obtained from land, labour, and capital. The primary factors facilitate production but neither becomes part of the product (as with raw materials) nor becomes significantly tra ... [...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 ... [...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] |
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] |
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] |
Das Kapital
''Das Kapital'', also known as ''Capital: A Critique of Political Economy'' or sometimes simply ''Capital'' (german: Das Kapital. Kritik der politischen Ökonomie, link=no, ; 1867–1883), is a foundational theoretical text in Historical materialism, materialist philosophy, critique of political economy and politics by Karl Marx. Marx aimed to reveal the economic patterns underpinning the capitalist mode of production (Marxist theory), capitalist mode of production in contrast to Classical economics, classical political economists such as Adam Smith, Jean-Baptiste Say, David Ricardo and John Stuart Mill. While Marx did not live to publish the planned second, third and fourth parts, the second and third volumes were completed from his notes and published after his death by his colleague Friedrich Engels; the fourth volume was completed and published after Engels's death by Marxist philosoper Karl Kautsky. ''Das Kapital'' is the most cited book published before 1950 in the social ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Relations
A social relation or also described as a social interaction or social experience is the fundamental unit of analysis within the social sciences, and describes any voluntary or involuntary interpersonal relationship between two or more individuals within and/or between groups. The group can be a language or kinship group, a social institution or organization, an economic class, a nation, or gender. Social relations are derived from human behavioral ecology, and, as an aggregate, form a coherent social structure whose constituent parts are best understood relative to each other and to the ecosystem as a whole. Fundamental inquiries into the nature of social relations feature in the work of sociologists such as Max Weber in his theory of social action. Social relationships are composed of both positive (affiliative) and negative (agonistic) interactions, representing opposing effects. Categorizing social interactions enables observational and other social research, such as Gemeinsc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Time Use Survey
A time-use survey is a statistical survey which aims to report data on how, on average, people spend their time. Objectives The objective of the Time-Use survey is to identify, classify and quantify the main types of activity that people engage in during a definitive time period, e.g. a year, a month, etc. Many surveys are used for calculation of unpaid work done by women as well as men in particular locality. File:Time spent on activities on an average day, by sex, Sweden, OWID.svg File:Time spent on domestic work, per day, men vs women, OWID.svg File:Time spent on free time activities, per day, men vs women, OWID.svg File:Time spent on gainful work-study, per day, men vs women, OWID.svg File:Time spent on leisure, per day, men vs women, OWID.svg File:Time spent on leisure, social, and associative life per day, OWID.svg File:Time spent on meals and personal care, per day, men vs women, OWID.svg File:Time spent on paid work or study, per day, men vs women, OWID.svg File:Time ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intermediate Consumption
Intermediate consumption (also called "intermediate expenditure") is an economic concept used in national accounts, such as the United Nations System of National Accounts (UNSNA), the US National Income and Product Accounts (NIPA) and the European System of Accounts (ESA). Conceptually, the aggregate "intermediate consumption" is equal to the amount of the difference between gross output (roughly, the total sales value) and net output (gross value added or GDP). In the US economy, total intermediate consumption represents about 45% of gross output. The services component in intermediate consumption has grown strongly in the US, from about 30% in the 1980s to more than 40% today. Thus, intermediate consumption is an accounting flow which consists of the total monetary value of goods and services ''consumed or used up as inputs in production'' by enterprises, including raw materials, services and various other operating expenses. Because this value must be subtracted from gross out ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Gains
Capital gain is an economic concept defined as the profit earned on the sale of an asset which has increased in value over the holding period. An asset may include tangible property, a car, a business, or intangible property such as shares. A capital gain is only possible when the selling price of the asset is greater than the original purchase price. In the event that the purchase price exceeds the sale price, a capital loss occurs. Capital gains are often subject to taxation, of which rates and exemptions may differ between countries. The history of capital gain originates at the birth of the modern economic system and its evolution has been described as complex and multidimensional by a variety of economic thinkers. The concept of capital gain may be considered comparable with other key economic concepts such as profit and rate of return, however its distinguishing feature is that individuals, not just businesses, can accrue capital gains through everyday acquisition an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
