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  2. Abstract labour and concrete labour - Wikipedia

    en.wikipedia.org/wiki/Abstract_labour_and...

    Abstract labour and concrete labour refer to a distinction made by Karl Marx in his critique of political economy.It refers to the difference between human labour in general as economically valuable worktime versus human labour as a particular activity that has a specific useful effect within the (capitalist) mode of production.

  3. Time, Labor and Social Domination - Wikipedia

    en.wikipedia.org/wiki/Time,_Labor_and_Social...

    Postone examines the fact that abstract labor is not (concrete) labor in general but has a unique social dimension that cannot be derived from (concrete) labor as such: it mediates a new, quasi-objective form of social interdependence. Abstract labor is a historically specific mediating function; it is the content or 'substance' of value. Labor ...

  4. Law of value - Wikipedia

    en.wikipedia.org/wiki/Law_of_Value

    Thus, things have an "economic value" simply and only because it takes human labour-time to make them. This value exists and persists quite independently of fluctuating prices in markets. Although they are connected, the value relationships between labour-products and price relationships can vary independently of each other, within certain limits.

  5. To each according to his contribution - Wikipedia

    en.wikipedia.org/wiki/To_each_according_to_his...

    What he has given to it is his individual quantum of labor. For example, the social working day consists of the sum of the individual hours of work; the individual labor time of the individual producer is the part of the social working day contributed by him, his share in it.

  6. Value, Price and Profit - Wikipedia

    en.wikipedia.org/wiki/Value,_Price_and_Profit

    Marx concludes that as value is determined by labour, and as profit is the appropriated surplus value remaining after paying wages, that the maximum profit is set by the minimum wage necessary to sustain labour, but is in turn adjusted by the overall productive powers of labour using given tools and machines, the length of the workday, the ...

  7. Labor theory of value - Wikipedia

    en.wikipedia.org/wiki/Labor_theory_of_value

    G.A. Cohen 'The Labour Theory of Value and the Concept of Exploitation', in his History Labour and Freedom. Duncan, Colin A.M. 1996. The Centrality of Agriculture: Between Humankind and The Rest of Nature. McGill–Queen's University Press, Montreal. ——2000. The Centrality of Agriculture: History, Ecology and Feasible Socialism.

  8. Socially necessary labour time - Wikipedia

    en.wikipedia.org/wiki/Socially_necessary_labour_time

    The simplest definition of socially necessary labour time is the amount of labour time performed by a worker of average skill and productivity, working with tools of the average productive potential, to produce a given commodity. This is an "average unit labour-cost", measured in working hours.

  9. Work (human activity) - Wikipedia

    en.wikipedia.org/wiki/Work_(human_activity)

    Work or labor (labour in British English) is the intentional activity people perform to support the needs and desires of themselves, other people, or organizations. [1] In the context of economics , work can be viewed as the human activity that contributes (along with other factors of production ) towards the goods and services within an economy .