|
Valorization
In Marxism, the valorisation or valorization of capital is the increase in the value of capital assets through the application of value-forming labour in production. The German original term is "''Verwertung''" (specifically ''Kapitalverwertung'') but this is difficult to translate. The first translation of '' Capital'' by Samuel Moore and Edward Aveling, under Engels' editorship, renders "''Verwertung''" in different ways depending on the context, for example as "creation of surplus-value", "self-expanding value", "increase in value" and similar expressions. These renderings were also used in the US Untermann revised edition, and the Eden and Cedar Paul translation. It has also been wrongly rendered as "realisation of capital". In German, the general meaning of "Verwertung" is the productive use of a resource, and more specifically the use or application of something (an object, process or activity) so that it makes money, or generates value, with the connotation that the thing va ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Product
The ''value product'' (VP) is an economic concept formulated by Karl Marx in his critique of political economy during the 1860s, and used in Marxian social accounting theory for capitalist economies. Its annual monetary value is approximately equal to the netted sum of six flows of income generated by production: *wages and salaries of employees. *profit including distributed and undistributed profit. *interest paid by producing enterprises from current gross income *rent paid by producing enterprises from current gross income, including land rents. * tax on the production of new value, including income tax and indirect tax on producers. * fees paid by producing enterprises from current gross income, including: royalties, certain honorariums and corporate officers' fees, various insurance charges, and certain leasing fees incurred in production and paid from current gross income. The last five money-incomes are components of realized surplus value. In principle, the value ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strike Action
Strike action, also called labor strike, labour strike, or simply strike, is a work stoppage caused by the mass refusal of employees to work. A strike usually takes place in response to employee grievances. Strikes became common during the Industrial Revolution, when mass labor became important in factories and mines. As striking became a more common practice, governments were often pushed to act (either by private business or by union workers). When government intervention occurred, it was rarely neutral or amicable. Early strikes were often deemed unlawful conspiracies or anti-competitive cartel action and many were subject to massive legal repression by state police, federal military power, and federal courts. Many Western nations legalized striking under certain conditions in the late 19th and early 20th centuries. Strikes are sometimes used to pressure governments to change policies. Occasionally, strikes destabilize the rule of a particular political party or ruler; i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value-form
The value-form or form of value (german: Wertform) is a concept in Karl Marx's critique of political economy. Marx's account of the value-form is differently adopted in later forms of Marxism, in the Frankfurt School and in post-Marxism. When social labor is split up into independent enterprises and organized capitalistically, its products take the form of an ensemble of ''commodities'' of diverse types, which face one another on the market. Production and exchange are governed by ideas and facts expressible in the forms like: * 20 yards of linen are worth one coat * 20 yards of linen have an equivalent in one coat * 20 yards of linen = one coat * 20 yards of linen cost $100 * The price of 20 yards of linen is $100 * 20 yards linen = $100 The formulae above are 'expressions of value' (''Wertausdruck''). ''Worth'', ''price'', and ''equivalent'' are said to be categories of bourgeois life. Items that enter on one side or the other, here ''linen'', ''coat'' and ''dollar'', are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Added
In business, total value added is calculated by tabulating the unit value added (measured by summing unit profit sale price and production cost">Price.html" ;"title="he difference between Price">sale price and production cost], unit depreciation cost, and unit Direct labor cost, labor cost) per each unit of product sold. Thus, total value added is equivalent to revenue minus intermediate consumption. Value added is a higher portion of revenue for integrated companies (e.g. manufacturing companies) and a lower portion of revenue for less integrated companies (e.g. retail companies); total value added is very closely approximated by compensation of employees, which represents a return to labor, plus earnings before taxes, representative of a return to capital. In economics, specifically macroeconomics, the term value added refers to the contribution of the factors of production (i.e. capital and labor) to raise the value of the product and increase the income of those who own the ... [...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 Ka ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Relations Of Production
Relations of production (german: Produktionsverhältnisse, links=no) is a concept frequently used by Karl Marx and Friedrich Engels in their theory of historical materialism and in ''Das Kapital''. It is first explicitly used in Marx's published book '' The Poverty of Philosophy'', although Marx and Engels had already defined the term in '' The German Ideology''. Some social relations are voluntary or freely chosen (a person chooses to associate with another person or a group). But other social relations are involuntary, i.e. people can be socially related, whether they like that or not, because they are part of a family, a group, an organization, a community, a nation etc. By "relations of production", Marx and Engels meant the sum total of social relationships that people ''must'' enter into in order to survive, to produce, and to reproduce their means of life. As people ''must'' enter into these social relationships, i.e. because participation in them is not voluntary, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Labour Theory Of Value
The labor theory of value (LTV) is a theory of value that argues that the economic value of a good or service is determined by the total amount of " socially necessary labor" required to produce it. The LTV is usually associated with Marxian economics, although it originally appeared in the theories of earlier classical economists such as Adam Smith and David Ricardo, and later in anarchist economics. Smith saw the price of a commodity in terms of the labor that the purchaser must expend to buy it, which embodies the concept of how much labor a commodity, a tool for example, can save the purchaser. The LTV is central to Marxist theory, which holds that the working class is exploited under capitalism, and dissociates price and value. However, Marx did not refer to his own theory of value as a "labour theory of value". Orthodox neoclassical economics rejects the LTV, using a theory of value based on subjective preferences. The revival in interpretation of Marx known as the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Constant Capital
Constant capital (c), is a concept created by Karl Marx and used in Marxian political economy. It refers to one of the forms of capital invested in production, which contrasts with variable capital (v). The distinction between constant and variable refers to an aspect of the economic role of factors of production in creating a new value. Constant capital includes the outlay of money on (1) fixed assets, i.e. physical plant, machinery, land and buildings, (2) raw materials and ancillary operating expenses (including external services purchased), and (3) certain faux frais of production (incidental expenses). Variable capital, by contrast, refers to the capital outlay on labour costs insofar as they represent workers' earnings, the sum total of wages. The concept of constant vs. variable capital contrasts with that of fixed vs. circulating capital (used not only by Marx but by David Ricardo and other classical economists). The latter distinction corresponds to the very common d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Accumulation
Capital accumulation is the dynamic that motivates the pursuit of profit, involving the investment of money or any financial asset with the goal of increasing the initial monetary value of said asset as a financial return whether in the form of profit, rent, interest, royalties or capital gains. The aim of capital accumulation is to create new fixed and working capitals, broaden and modernize the existing ones, grow the material basis of social-cultural activities, as well as constituting the necessary resource for reserve and insurance. The process of capital accumulation forms the basis of capitalism, and is one of the defining characteristics of a capitalist economic system.''Capital'', Encyclopedia on Marxists.org: http://marxists.org/glossary/terms/c/a.htm#capital Definition The definition of capital accumulation is subject to controversy and ambiguities, because it could refer to: *a '' net addition'' to existing wealth *a ''redistribution'' of wealth. Most often, ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Relative Surplus Population
Reserve army of labour is a concept in Karl Marx's critique of political economy. It refers to the unemployed and underemployed in capitalist society. It is synonymous with "industrial reserve army" or "relative surplus population", except that the unemployed can be defined as those actually looking for work and that the relative surplus population also includes people unable to work. The use of the word "army" refers to the workers being conscripted and regimented in the workplace in a hierarchy under the command or authority of the owners of capital. Marx did not invent the term "reserve army of labour". It was already being used by Friedrich Engels in his 1845 book ''The Condition of the Working Class in England''. What Marx did was theorize the reserve army of labour as a necessary part of the capitalist organization of work. Prior to what Marx regarded as the start of the capitalist era in human history (i.e. before the 16th century), structural unemployment on a mass scale ... [...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] |
Ghost Town
Ghost Town(s) or Ghosttown may refer to: * Ghost town, a town that has been abandoned Film and television * ''Ghost Town'' (1936 film), an American Western film by Harry L. Fraser * ''Ghost Town'' (1956 film), an American Western film by Allen H. Miner * ''Ghost Town'' (1988 film), an American horror film by Richard McCarthy (as Richard Governor) * ''Ghost Town'' (2008 film), an American fantasy comedy film by David Koepp * ''Ghost Town'', a 2008 TV film featuring Billy Drago * '' Derek Acorah's Ghost Towns'', a 2005–2006 British paranormal reality television series * "Ghost Town" (''CSI: Crime Scene Investigation''), a 2009 TV episode Literature * ''Ghost Town'' (''Lucky Luke'') or ''La Ville fantôme'', a 1965 ''Lucky Luke'' comic *''Ghost Town'', a Beacon Street Girls novel by Annie Bryant *''Ghost Town'', a 1998 novel by Robert Coover *''Ghosttown'', a 2007 novel by Douglas Anne Munson Music * Ghost Town (band), an American electronic band * ''Ghost Town'', a 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
