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Law Of Value
The law of the value of commodities (German: ''Wertgesetz der Waren''), known simply as the law of value, is a central concept in Karl Marx's critique of political economy first expounded in his polemic '' The Poverty of Philosophy'' (1847) against Pierre-Joseph Proudhon with reference to David Ricardo's economics.See Marx, '' The Poverty of Philosophy'', chapter 1 part where Marx refers to Proudhon's own "law of value" and chapter 3, titled "Application of the Law of the Proportionality of Value/ref> Most generally, it refers to a regulative principle of the economic exchange of the products of human work, namely that the relative exchange-values of those products in trade, usually expressed by money-prices, are proportional to the average amounts of human labor-time which are currently socially necessary to produce them within the capitalist mode of production.Karl Marx, '' Capital, Volume I'', Penguin, pp. 676–77; Marx, ''Capital, Volume III'', Penguin ed., p. 522. Thus, th ... [...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 Mu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gold
Gold is a chemical element with the symbol Au (from la, aurum) and atomic number 79. This makes it one of the higher atomic number elements that occur naturally. It is a bright, slightly orange-yellow, dense, soft, malleable, and ductile metal in a pure form. Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements and is solid under standard conditions. Gold often occurs in free elemental ( native state), as nuggets or grains, in rocks, veins, and alluvial deposits. It occurs in a solid solution series with the native element silver (as electrum), naturally alloyed with other metals like copper and palladium, and mineral inclusions such as within pyrite. Less commonly, it occurs in minerals as gold compounds, often with tellurium ( gold tellurides). Gold is resistant to most acids, though it does dissolve in aqua regia (a mixture of nitric acid and hydrochloric acid), forming a soluble tetrachloro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ben Fine
Ben Fine (born 1948) is Professor of Economics at the University of London's School of Oriental and African Studies. Background Fine was born in Coventry in 1948. One of six brothers, he and all but one other followed their father and studied mathematics at the University of Oxford. Fine graduated at the age of 20, and then was recruited by Sir James Mirrlees, completing an economics degree. He took his doctorate in economics at the London School of Economics, under the supervision of Amartya Sen, in 1974. He moved to the newly established economics department at Birkbeck, University of London, later working part-time as an industrial economist at the Greater London Council prior to its abolition. He was a member of the Social Science Research Committee of the UK’s Food Standards Agency, that met until 2016. Currently, Ben Fine is emeritus professor of economics at the Department of Economics at SOAS, University of London. He is on the Economists' Oversight Group of the Citize ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul Cockshott
William Paul Cockshott (born 16 March 1952) is a Scottish computer scientist, Marxian economist and a reader at the University of Glasgow. Since 1993 he has authored multiple works in the tradition of scientific socialism, most notably '' Towards a New Socialism'' and ''How the World Works''. Scientific career Cockshott earned a BA in Economics (1974) from Manchester University, an MSc (1976) in Computer Science from Heriot Watt University and a PhD in Computer Science from Edinburgh University (1982). He has made contributions in the fields of image compression, 3D television, parallel compilers and medical imaging, but became known to a wider audience for his proposals in the multi-disciplinary area of economic computability, most notably as co-author, along the economist , of the book '' Towards a New Socialism'', in which they strongly advocate the use of cybernetics for efficient and democratic planning of a complex socialist economy. He proposes a moneyless sociali ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Makoto Itoh
is a Japanese economist and is considered internationally to be one of the most important scholars of Karl Marx's theory of value. He teaches at Kokugakuin University, Tokyo, and is professor emeritus of the University of Tokyo. He belongs to the school of economic thought founded by Kozo Uno and is one of the few Japanese Marxian economists who has published widely in English-language journals such as Science & Society, Monthly Review, Capital & Class, New Left Review The ''New Left Review'' is a British bimonthly journal covering world politics, economy, and culture, which was established in 1960. History Background As part of the British "New Left" a number of new journals emerged to carry commentary on m ... and Ampo. He has published 24 books, of which 6 are in English, and 5 are translated and published in Chinese. Books in English * ''Value and Crisis'' (1980). * ''The Basic Theory of Capitalism'' (1987) * ''The world economic crisis and Japanese capitalism'' (19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ernest Mandel
Ernest Ezra Mandel (; also known by various pseudonyms such as Ernest Germain, Pierre Gousset, Henri Vallin, Walter (5 April 1923 – 20 July 1995), was a Belgian Marxian economist, Trotskyist activist and theorist, and Holocaust survivor. He fought in the underground resistance against the Nazis during the occupation of Belgium. Life Born in Frankfurt, Mandel was recruited to the Belgian section of the international Trotskyist movement, the Fourth International, in his youth in Antwerp. His parents, Henri and Rosa Mandel, were Jewish emigres from Poland, the former a member of Rosa Luxemburg's and Karl Liebknecht's Spartacist League. The beginning of Mandel's period at university was interrupted when the German occupying forces closed the university. During World War II, while still a teenager, he joined the Belgian Trotskyist organisation alongside Abraham Leon and Martin Monath. He twice escaped after being arrested in the course of resistance activities, and survived i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ian Steedman
Ian Steedman (born 1941, in London) was for many years a professor of economics at the University of Manchester before moving down the road to Manchester Metropolitan University. He retired from there at the end of 2006, but was appointed as an emeritus professor. His work Steedman has been recognised as one of the leading Neo-Ricardian economic theorists with work in the areas overlapping with those of Marx, Sraffa, Marshall Marshall may refer to: Places Australia * Marshall, Victoria, a suburb of Geelong, Victoria Canada * Marshall, Saskatchewan * The Marshall, a mountain in British Columbia Liberia * Marshall, Liberia Marshall Islands * Marshall Islands, an i ..., Jevons and Wicksteed. He has also made contributions to economic theory on time, international trade, capital theory and growth and distribution. He is also a senior research fellow at the William Temple Foundation, and his work now includes the study of "happiness" and its relation to welfare economics. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marxian Economics
Marxian economics, or the Marxian school of economics, is a heterodox school of political economic thought. Its foundations can be traced back to Karl Marx's critique of political economy. However, unlike critics of political economy, Marxian economists tend to accept the concept of 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 Marxist to be economically Marxian, the two adjectives coexist in usage, rather than being synonymous: They share a semantic field, while also allowing both connotative and denotative differences. Marxian economics concerns itself variously with the analysis of crisis in capitalism, the role and distribution of the surplus product and surplus value in various types of economic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Theories Of Surplus Value
''Theories of Surplus Value'' (german: Theorien über den Mehrwert) is a draft manuscript written by Karl Marx between January 1862 and July 1863. It is mainly concerned with the Western European theorizing about ''Mehrwert'' (added value or surplus value) from about 1750, critically examining the ideas of British, French and German political economists about wealth creation and the profitability of industries. At issue are the source, forms and determinants of the magnitude of surplus-value and Marx tries to explain how after failing to solve basic contradictions in its labour theories of value the classical school of political economy eventually broke up, leaving only "vulgar political economy" which no longer tried to provide a consistent, integral theory of capitalism, but instead offered only an eclectic amalgam of theories which seemed pragmatically useful or which justified the rationality of the market economy. Background ''Theories of Surplus Value'' was part of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
A Contribution To The Critique Of Political Economy
''A Contribution to the Critique of Political Economy'' (german: Zur Kritik der Politischen Ökonomie) is a book by Karl Marx, first published in 1859. The book is mainly a critique of political economy achieved by critiquing the writings of the leading theoretical exponents of capitalism at that time: these were the political economists, nowadays often referred to as the classical economists; Adam Smith (1723–90) and David Ricardo (1772–1823) are the foremost representatives of the genre. Significance Much of the ''Critique'' was later incorporated by Marx into his magnum opus, ''Capital'' (Volume I), published in 1867, and the ''Critique'' is generally considered to be of secondary importance among Marx's writings. This does not apply, however, to the Preface of the ''Critique''. It contains the first connected account of one of Marx's main theories: the materialist conception of history, and its associated "base and superstructure" model of society, which divides human ... [...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, relatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
