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Debt bondage in India (Hindi: बंधुआ मज़दूरी bandhua mazdoori) was legally abolished in 1976 but remains prevalent due to weak enforcement by the government. [1] Bonded labour is a system in which lenders force their borrowers to repay loans through labor. [1]
Labor-power might be seen as a stock which can produce a flow of labor. Labor, not labor power, is the key factor of production for Marx and the basis for earlier economists' labor theory of value. The hiring of labor power only results in the production of goods or services ("use-values") when organized and regulated (often by the "management ...
The amount of labor that is shifted and the time that this shifting takes depends upon: The growth of surplus generated within the agricultural sector, and the growth of industrial capital stock dependent on the growth of industrial profits; The nature of the industry's technical progress and its associated bias; Growth rate of population. [4]
Rerum novarum (from its incipit, with the direct translation of the Latin meaning "of revolutionary change" [n 1]), or Rights and Duties of Capital and Labor, is an encyclical issued by Pope Leo XIII on 15 May 1891.
In economics, capital goods or capital are "those durable produced goods that are in turn used as productive inputs for further production" of goods and services. [1] A typical example is the machinery used in a factory. At the macroeconomic level, "the nation's capital stock includes buildings, equipment, software, and inventories during a ...
The measure of the capitalist, on the contrary, would be the additional value produced by the same quantity of labor in consequence of the use of the machinery or other capital; the whole of such surplus value to be enjoyed by the capitalist for his superior intelligence and skill in accumulating and advancing to the laborers his capital or the ...
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CRS technologies implies that when inputs of both capital and labor is multiplied by a factor of k, the output also multiplies by a factor of k. For example, if both capital and labor inputs are doubled, output of the commodities is doubled. In other terms the production function of both commodities is "homogeneous of degree 1".