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In Marxian economics, surplus value is the difference between the amount raised through a sale of a product and the amount it cost 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 ...
Theories of Surplus Value ( German: Theorien über den Mehrwert) is a draft manuscript written by Karl Marx between January 1862 and July 1863. [ 1] 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 ...
e. " Value, Price and Profit " ( German: "Lohn, Preis und Profit") is a transcript of an English-language lecture series delivered to the First International Working Men's Association on June 20 and 27, 1865 by Karl Marx. The text was written between the end of May and June 27 in 1865, while Capital, Volume I was in preparation and one year ...
The tendency of the rate of profit to fall ( TRPF) is a theory in the crisis theory of political economy, according to which the rate of profit —the ratio of the profit to the amount of invested capital —decreases over time. This hypothesis gained additional prominence from its discussion by Karl Marx in Chapter 13 of Capital, Volume III ...
In modern Marxism, the law of value is often equated with "market economy", but that was not Marx's own idea. [citation needed] Rather, it limits, regulates and constrains the trade in products. Simply put, the socially necessary labour requirements set limits for the movements of product prices. [citation needed]
Representations of pi help scientists use values close to real life without storing a million digits. The making of the new pi involved using a series, which is a structured set of terms that ...
Economics portal. Marxism portal. v. t. e. The labor theory of value ( LTV) is a theory of value that argues that the exchange value of a good or service is determined by the total amount of "socially necessary labor" required to produce it. The contrasting system is typically known as the subjective theory of value .
e. 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.