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Das Kapital
CAPITAL: CRITIQUE OF POLITICAL ECONOMY (German : Das Kapital, Kritik der politischen Ökonomie, pronounced ; 1867–1883) by Karl Marx
Karl Marx
is a foundational theoretical text in communist philosophy, economics and politics. Marx aimed to reveal the economic patterns underpinning the capitalist mode of production , in contrast to classical political economists such as Adam Smith , Jean-Baptiste Say , David Ricardo
David Ricardo
and John Stuart Mill
John Stuart Mill

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Objectification
In social philosophy , OBJECTIFICATION is the act of treating a person, or sometimes an animal, as an object or a thing
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Money
MONEY is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context. The main functions of money are distinguished as: a medium of exchange ; a unit of account ; a store of value ; and, sometimes, a standard of deferred payment . Any item or verifiable record that fulfills these functions can be considered as money. Money
Money
is historically an emergent market phenomenon establishing a commodity money , but nearly all contemporary money systems are based on fiat money . Fiat money, like any check or note of debt, is without use value as a physical commodity. It derives its value by being declared by a government 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"
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Theory Of Value (economics)
"THEORY OF VALUE" is a generic term which encompasses all the theories within economics that attempt to explain the exchange value or price of goods and services . Key questions in economic theory include why goods and services are priced as they are, how the value of goods and services comes about, and—for normative value theories—how to calculate the correct price of goods and services (if such a value exists). CONTENTS * 1 History * 2 Intrinsic theory of value * 2.1 Labor theory of value * 2.2 Power theory of value * 3 Subjective theory of value * 3.1 Marginalism * 3.2 Exchange Theory * 3.3 Use Value Theory * 4 See also * 5 References * 6 External links HISTORYA major question that has eluded economists since the earliest of publications was one of price. As commodities began to be exchanged for currency, economic thinkers have constantly been trying to decipher how prices are determined
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Law
LAW is a system of rules that are created and enforced through social or governmental institutions to regulate behavior . Law
Law
is a system that regulates and ensures that individuals or a community adhere to the will of the state. State-enforced laws can be made by a collective legislature or by a single legislator, resulting in statutes , by the executive through decrees and regulations , or established by judges through precedent , normally in common law jurisdictions. Private individuals can create legally binding contracts , including arbitration agreements that may elect to accept alternative arbitration to the normal court process. The formation of laws themselves may be influenced by a constitution , written or tacit, and the rights encoded therein. The law shapes politics , economics , history and society in various ways and serves as a mediator of relations between people
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Distribution Of Wealth
The DISTRIBUTION OF WEALTH is a comparison of the wealth of various members or groups in a society . It differs from the income distribution in that it looks at the economic distribution of ownership of the assets in a society, rather than the current income of members of that society. The distribution of wealth shows economic differences as per the Gini index
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Wage Labour
WAGE LABOUR (also WAGE LABOR in American English ) is the socioeconomic relationship between a worker and an employer , where the worker sells his or her labour power under a formal or informal employment contract . These transactions usually occur in a labour market where wages are market determined. In exchange for the wages paid, the work product generally becomes the undifferentiated property of the employer, except for special cases such as the vesting of intellectual property patents in the United States where patent rights are usually vested in the employee personally responsible for the invention. A WAGE LABOURER is a person whose primary means of income is from the selling of his or her labour power in this way. In modern mixed economies such as those of the OECD countries, it is currently the most common form of work arrangement
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Banking
A BANK is a financial institution that accepts deposits from the public and creates credit . Lending
Lending
activities can be performed either directly or indirectly through capital markets . Due to their importance in the financial stability of a country, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords . Banking
Banking
in its modern sense evolved in the 14th century in the prosperous cities of Renaissance Italy but in many ways was a continuation of ideas and concepts of credit and lending that had their roots in the ancient world
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Moral Value
VALUE THEORY is a range of approaches to understanding how, why, and to what degree persons value things; whether the object or subject of valuing is a person, idea, object, or anything else. This investigation began in ancient philosophy , where it is called axiology or ethics . Early philosophical investigations sought to understand good and evil and the concept of "the good". Today, much of value theory aspires to the scientifically empirical , recording what people do value and attempting to understand why they value it in the context of psychology , sociology , and economics . At the general level, there is a difference between moral and natural goods. Moral goods are those that have to do with the conduct of persons, usually leading to praise or blame. Natural goods, on the other hand, have to do with objects, not persons. For example, the statement "Mary is a good person" represents a very different sense of the word 'good' than the statement "That was some good food"
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Class Struggle
CLASS CONFLICT, frequently referred to as CLASS WARFARE or CLASS STRUGGLE, is the tension or antagonism which exists in society due to competing socioeconomic interests and desires between people of different classes . The view that the class struggle provides the lever for radical social change for the majority is central to the work of Karl Marx and the anarchist Mikhail Bakunin . Class conflict can take many different forms: direct violence, such as wars fought for resources and cheap labor; indirect violence, such as deaths from poverty, starvation, illness or unsafe working conditions; coercion, such as the threat of losing a job or the pulling of an important investment; or ideologically, such as with books and articles
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Perception
PERCEPTION (from the Latin
Latin
perceptio) is the organization, identification, and interpretation of sensory information in order to represent and understand the presented information, or the environment. All perception involves signals that go through the nervous system , which in turn result from physical or chemical stimulation of the sensory system. For example, vision involves light striking the retina of the eye, smell is mediated by odor molecules , and hearing involves pressure waves . Perception
Perception
is not only the passive receipt of these signals, but it's also shaped by the recipient's learning , memory , expectation , and attention
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Wealth
WEALTH is the abundance of valuable resources or valuable material possessions . This includes the core meaning as held in the originating old English word weal, which is from an Indo-European word stem. An individual, community, region or country that possesses an abundance of such possessions or resources to the benefit of the common good is known as wealthy. The modern concept of wealth is of significance in all areas of economics , and clearly so for growth economics and development economics yet the meaning of wealth is context-dependent. At the most general level, economists may define wealth as "anything of value" that captures both the subjective nature of the idea and the idea that it is not a fixed or static concept. Various definitions and concepts of wealth have been asserted by various individuals and in different contexts
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Value (economics)
ECONOMIC VALUE is a measure of the benefit provided by a good or service to an economic agent . It is generally measured relative to units of currency , and the interpretation is therefore "what is the maximum amount of money a specific actor is willing and able to pay for the good or service"? Note that economic value is not the same as market price, nor is economic value the same thing as market value . If a consumer is willing to buy a good, it implies that the customer places a higher value on the good than the market price. The difference between the value to the consumer and the market price is called "consumer surplus". It is easy to see situations where the actual value is considerably larger than the market price: purchase of drinking water is one example. The economic value of a good or service has puzzled economists since the beginning of the discipline
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Paradox
A PARADOX is a statement that, despite apparently sound reasoning from true premises, leads to a self-contradictory or a logically unacceptable conclusion. A paradox involves contradictory yet interrelated elements that exist simultaneously and persist over time. Some logical paradoxes are known to be invalid arguments but are still valuable in promoting critical thinking . Some paradoxes have revealed errors in definitions assumed to be rigorous, and have caused axioms of mathematics and logic to be re-examined. One example is Russell\'s paradox , which questions whether a "list of all lists that do not contain themselves" would include itself, and showed that attempts to found set theory on the identification of sets with properties or predicates were flawed. Others, such as Curry\'s paradox , are not yet resolved
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Technology
TECHNOLOGY ("science of craft", from Greek τέχνη, techne, "art, skill, cunning of hand"; and -λογία, -logia ) is the collection of techniques , skills , methods, and processes used in the production of goods or services or in the accomplishment of objectives, such as scientific investigation . Technology
Technology
can be the knowledge of techniques, processes, and the like, or it can be embedded in machines to allow for operation without detailed knowledge of their workings. The simplest form of technology is the development and use of basic tools . The prehistoric discovery of how to control fire and the later Neolithic Revolution increased the available sources of food, and the invention of the wheel helped humans to travel in and control their environment
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Revolution
A REVOLUTION (from the Latin revolutio, "a turn around") is a fundamental change in political power or organizational structures that takes place in a relatively short period of time when the population rises up in revolt against the current authorities. Aristotle
Aristotle
described two types of political revolution: * Complete change from one constitution to another * Modification of an existing constitution. Revolutions have occurred through human history and vary widely in terms of methods, duration, and motivating ideology . Their results include major changes in culture, economy, and socio -political institutions . Scholarly debates about what does and does not constitute a revolution center on several issues
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