Marxian economics

thumb|The Rhodes Colossus|Political cartoon satirising the [[Cape to Cairo Railway, a symbol of British imperialism during the Scramble for Africa]]

reference to physical, non-human inputs used in production to produce wealth

central concept in Karl Marx's theory of value and critique of political economy

relationship where a worker sells labour to an employer

school of economics

in economics, the theory that the economic value of a good or service is determined by the total amount of socially necessary labor required to produce it

in business: the difference between the sale price and the production cost of a product is the unit profit. In economics, the sum of the unit profit, the unit depreciation cost, and the unit labor cost is the unit value added.

form of organizational management based on self-directed work processes on the part of an organization's workforce

key concept used by Karl Marx in his critique of capitalist political economy

Marxist term for way of producing goods

element of Marxist theory

concept in Marxist analysis

gathering or amassing of objects of value; the increase in wealth through concentration; or the creation of wealth

utility of consuming a good

economical concept

mode of production

economic or business model practiced in Yugoslavia

arguments against the economic system of capitalism

abuse of people in the workplace for profit

attribute of a commodity

central concept in Karl Marx's critique of political economy

hypothesis in Marxist economics that, since technological innovation replaces people with machinery and since only labor produces additional value, surplus value per capital decreases, and the average rate of industrial profit falls in the long term

term used by critics of capitalism to describe the current version of the political and economic formation

relative profitability of an investment project, a capitalist enterprise or a whole capitalist economy

Marxist economic concept

principle considered by socialists and Marxist socialists as one of the characteristics of a society that is making its transition to the socialism

in Marxism and anarchism, a segment of the working class with relatively better wages and working conditions who tend to align with the bourgeoisie to maintain capitalism

Marxian theory of causes and consequences of the tendency for the rate of profit to fall in a capitalist system

economic concept

economic term

marxian economy centered around use value, planning and contribution-based distribution

economic concept

form of labour

concept created by Karl Marx

form of capitalism

name for an incident in early 1923 Soviet history during the New Economic Policy

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

in Marxism, good or service produced by human labour and offered as a product for general sale on the market

The average time it takes to produce a commodity

Marxist theory

The value-form or form of value (German: Wertform) is an important concept in Karl Marx's critique of political economy, discussed in the first three chapters of Capital, Volume 1 (a book first published in 1867). It refers to the social form of tradeable things as units of value, which contrast with their tangible features, as objects which can satisfy human needs and wants or serve a useful purpose. The physical appearance or the price tag of a traded object may be directly observable, but the meaning of its social form (as an object of value) is not. Marx intended to correct errors made by

Marxist Doctrine

Underconsumption is a theory in economics that recessions and stagnation arise from an inadequate consumer demand, relative to the amount produced. In other words, there is a problem of overproduction and overinvestment during a demand crisis. The theory formed the basis for the development of Keynesian economics and the theory of aggregate demand after the 1930s.

concepts used in classical political economy

Overaccumulation is one of the potential causes of the crisis of capital accumulation. In crisis theory, a crisis of capital occurs due to what Karl Marx refers to as the internal contradictions inherent in the capitalist system which result in the reconfiguration of production. The contradiction in this situation is realized because of the condition of capitalism that requires the accumulation of capital through the continual reinvestment of surplus value.

concept in Marxist political economy; resources that enable labor

problem in Marxian economics of finding a rule to transform values of commodities (based on labor content) into competitive prices of the marketplace

theorem that, if the real wage remains constant and if one capitalist raises his profits by cutting his costs, the collective rate of profit in society goes up for all capitalists

Economic concepts used by Karl Marx

social and economic class mobility

2004 essay by Silvia Federici

Economic Phenomenon

in Marxian economics, the ratio of the total amount of unpaid labor done to the total amount of wages paid

Marxist theory that capitalist production stabilizes real wages, reducing wage growth relative to total value creation in the economy, leading to the increasing power of capital in society

theory of capitalism and globalization

Marxian economic framework