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Surplus Labour
Surplus labor () is a concept used by Karl Marx in his critique of political economy. It means labor performed in excess of the labor necessary to produce the means of livelihood of the worker ("necessary labor"). The "surplus" in this context means the ''additional'' labor a worker has to do in their job, beyond earning their own keep. According to Marxian economics, surplus labor is usually uncompensated (unpaid) labor. Marx's first analysis of what surplus labor means appeared in ''The Poverty of Philosophy'' (1847), a polemic against the philosophy of Pierre-Joseph Proudhon. A much more detailed analysis is presented in the volumes of '' Theories of Surplus Value'' and ''Das Kapital''. Origin Marx explains the origin of surplus labor in the following terms: The historical emergence of surplus labor 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 clas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Karl Marx
Karl Marx (; 5 May 1818 – 14 March 1883) was a German philosopher, political theorist, economist, journalist, and revolutionary socialist. He is best-known for the 1848 pamphlet '' The Communist Manifesto'' (written with Friedrich Engels), and his three-volume (1867–1894), a critique of classical political economy which employs his theory of historical materialism in an analysis of capitalism, in the culmination of his life's work. Marx's ideas and their subsequent development, collectively known as Marxism, have had enormous influence. Born in Trier in the Kingdom of Prussia, Marx studied at the universities of Bonn and Berlin, and received a doctorate in philosophy from the University of Jena in 1841. A Young Hegelian, he was influenced by the philosophy of Georg Wilhelm Friedrich Hegel, and both critiqued and developed Hegel's ideas in works such as '' The German Ideology'' (written 1846) and the '' Grundrisse'' (written 1857–1858). While in Paris, Marx wrote ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Capital, Volume III
''Capital: A Critique of Political Economy'' (), also known as ''Capital'' or (), is the most significant work by Karl Marx and the cornerstone of Marxian economics, published in three volumes in 1867, 1885, and 1894. The culmination of his life's work, the text contains Marx's analysis of capitalism, to which he sought to apply his theory of historical materialism in a critique of classical political economy. 's second and third volumes were completed from manuscripts after Marx's death in 1883 and published by Friedrich Engels. Marx's study of political economy began in the 1840s, influenced by the works of the classical political economists Adam Smith and David Ricardo. His earlier works, including '' Economic and Philosophic Manuscripts of 1844'' and ''The German Ideology'' (1846, with Engels), laid the groundwork for his theory of historical materialism, which posits that the economic structures of a society (in particular, the forces and relations of production) are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are: medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Money was historically an emergent market phenomenon that possessed intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity 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", in the case of the United States dollar. The money supply of a country comprises all currency in circulation (banknotes and coins currently issued) and, depending on the particular definiti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Raul Prebisch
Raul, Raúl, Raül, and Raüll are forms of a common first name in Italian, Portuguese, Romanian, Spanish, Galician, Asturian, Basque, Aragonese, and Catalan. The name is cognate of the Anglo-Germanic given name Ralph or Rudolph and the French Raoul, and is derived from Old English Rædwulf through Radulf.Entry 'Raul' in th inforpedia.pt website. Accessed on 2023-03-19. It is also a popular common boy name in . The name is usually spelled "Raul" in Portuguese, Italian, and Romanian; [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Terms Of Trade
The terms of trade (TOT) is the relative price of exports in terms of imports and is defined as the ratio of export prices to import prices. It can be interpreted as the amount of import goods an economy can purchase per unit of export goods. An improvement of a nation's terms of trade benefits that country in the sense that it can buy more imports for any given level of exports. The terms of trade may be influenced by the exchange rate because a rise in the value of a country's currency lowers the domestic prices of its imports but may not directly affect the prices of the commodities it exports. History The expression ''terms of trade'' was first coined by the US American economist Frank William Taussig in his 1927 book ''International Trade''. However, an earlier version of the concept can be traced back to the English economist Robert Torrens (economist), Robert Torrens and his book ''The Budget: On Commercial and Colonial Policy'', published in 1844, as well as to John St ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Samir Amin
Samir Amin () (3 September 1931 – 12 August 2018) was an Egyptian-French Marxian economics, Marxian economist, political scientist and World-systems theory, world-systems analyst. He is noted for his introduction of the term Eurocentrism in 1988 and considered a pioneer of dependency theory. Biography Amin was born in Cairo, the son of a French mother and an Egyptian father (both medical doctors). He spent his childhood and youth in Port Said; there he attended a French high school, leaving in 1947 with a . It was at high school that Amin was first politicized when, during the Second World War, Egyptian students were split between communists and nationalists; Amin belonged to the former group. By then Amin had already adopted a resolute stance against fascism and Nazism. While the upheaval against British domination in Egypt informed his politics, he rejected the idea that the enemy of their enemy, Nazi Germany, was the Egyptians' friend. In 1947 Amin left for Paris where he ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Labor Power
Labour power (; ) is the capacity to work, a key concept used by Karl Marx in his critique of capitalist political economy. Marx distinguished between the capacity to do the work, i.e. labour power, and the physical act of working, i.e. labour. Human labour power exists in any kind of society, but on what terms it is traded or combined with means of production to produce goods and services has historically varied greatly. The general idea of labour-power had existed previously in classical political economy. Adam Smith's ''The Wealth of Nations'' and David Ricardo's '' On the Principles of Political Economy and Taxation'' already referred to the "productive powers of labour". However, Marx made the concept much more precise, critically examining the functions of labour-power in production, how labour-power is used, organized and exploited, and how it is typically valued and priced in bourgeois society. Under capitalism, according to Marx, the ''productive powers of labour'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Grundrisse
The ''Grundrisse der Kritik der Politischen Ökonomie'' (, ), often simply the ''Grundrisse'' (, ), 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). Because of the rough nature of the work, Marxist geographer David Harvey has described challenges in "determining whether Marx is advancing his own conceptual framework and interpretations or simply reporting for others" and stated that "Marx is, in short, just talking to himself". It is often described as the rough draft of ''Das Kapital'', although there is considerable disagreement about the exact relati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Unequal Exchange
Unequal exchange is used primarily in Marxist economics, but also in ecological economics (more specifically also as ecologically unequal exchange), to describe the systemic hidden transfer of labor and ecological value from poor countries in the imperial periphery (mainly in the Global South) to rich countries and monopolistic corporations in the imperial core (mainly in the Global North) due to structural inequalities in the global economy. Due to biased terms of trade and the undervaluation of labor and goods from the global South compared to the North, poor countries are forced to export a much larger quantity of labor and resources than they import to maintain a monetary balance of trade. This enables the global North to achieve a net appropriation through trade, fostering development in the former while impoverishing the global South. The theory of unequal exchange is a rejection of the fundamental assumptions of Ricardian and neoclassical theories of comparative ad ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Slavery
Slavery is the ownership of a person as property, especially in regards to their labour. Slavery typically involves compulsory work, with the slave's location of work and residence dictated by the party that holds them in bondage. Enslavement is the placement of a person into slavery, and the person is called a slave or an enslaved person (see ). Many historical cases of enslavement occurred as a result of breaking the law, becoming indebted, suffering a military defeat, or exploitation for cheaper labor; other forms of slavery were instituted along demographic lines such as race or sex. Slaves would be kept in bondage for life, or for a fixed period of time after which they would be granted freedom. Although slavery is usually involuntary and involves coercion, there are also cases where people voluntarily enter into slavery to pay a debt or earn money due to poverty. In the course of human history, slavery was a typical feature of civilization, and existed in most socie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Forced Labor
Forced labour, or unfree labour, is any work relation, especially in modern or early modern history, in which people are employed against their will with the threat of destitution, detention, or violence, including death or other forms of extreme hardship to either themselves or members of their families. Unfree labour includes all forms of slavery, penal labour, and the corresponding institutions, such as debt slavery, serfdom, corvée and labour camps. Definition Many forms of unfree labour are also covered by the term forced labour, which is defined by the International Labour Organization (ILO) as all involuntary work or service exacted under the menace of a penalty.Andrees and Belser, "Forced labor: Coercion and exploitation in the private economy", 2009. Rienner and ILO. However, under the ILO Forced Labour Convention of 1930, the term forced or compulsory labour does not include: *"any work or service exacted in virtue of compulsory military service laws for w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Morality
Morality () is the categorization of intentions, Decision-making, decisions and Social actions, actions into those that are ''proper'', or ''right'', and those that are ''improper'', or ''wrong''. Morality can be a body of standards or principles derived from a code of conduct from a particular philosophy, religion or culture, or it can derive from a standard that is Universal morality, understood to be universal. Morality may also be specifically synonymous with "goodness", "appropriateness" or "rightness". Moral philosophy includes meta-ethics, which studies abstract issues such as moral ontology and moral epistemology, and normative ethics, which studies more concrete systems of moral decision-making such as deontological ethics and consequentialism. An example of normative Ethics, ethical philosophy is the Golden Rule, which states: "One should treat others as one would like others to treat oneself." Immorality is the active opposition to morality (i.e., opposition to that w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
