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In economics, factors of production, ... Labor, not labor power, is the key factor of production for Marx and the basis for earlier economists' labor theory of value.
In political philosophy, the means of production refers to the generally necessary assets and resources that enable a society to engage in production. [1] While the exact resources encompassed in the term may vary, it is widely agreed to include the classical factors of production (land, labour, and capital) as well as the general infrastructure and capital goods necessary to reproduce stable ...
In the Marxist theory of historical materialism, a mode of production (German: Produktionsweise, "the way of producing") is a specific combination of the: . Productive forces: these include human labour power and means of production (tools, machinery, factory buildings, infrastructure, technical knowledge, raw materials, plants, animals, exploitable land).
Productive forces, productive powers, or forces of production (German: Produktivkräfte) is a central idea in Marxism and historical materialism.. In Karl Marx and Friedrich Engels' own critique of political economy, it refers to the combination of the means of labor (tools, machinery, land, infrastructure, and so on) with human labour power.
Marx never provided a complete definition of the capitalist mode of production as a short summary, although in his manuscripts he sometimes attempted one. In a sense, it is Marx's three-volume work Capital (1867–1894; sometimes known by its German title, Das Kapital), as a whole that provides his "definition" of the capitalist mode of ...
Marx lists the elementary factors of production as: Labour, "the personal activity of man." (Capital, I, VII, 1.) The subject of labour: the thing worked on. The instruments of labour: tools, labouring domestic animals like horses, chemicals used in modifying the subject, etc.
The direct connection between labour time and value, still visible in simple commodity production, is largely effaced; only cost prices and sale prices remain, and it seems that any of the factors of production (which Marx calls the "Holy Trinity" of capitalism) can contribute new value to output, paving the way for the concept of the ...
The means of labor are one of three basic factors of production (Marx, 1967, p. 174), along with human labor and the subject of labor (the material worked on). [full citation needed] [page needed] The means of labor and the subject of labor comprise the means of production of society. [full citation needed] [page needed]