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Fordism is "the eponymous manufacturing system designed to produce standardized, low-cost goods and afford its workers decent enough wages to buy them." [ 2 ] It has also been described as "a model of economic expansion and technological progress based on mass production: the manufacture of standardized products in huge volumes using special ...
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 ...
Joan Robinson, who herself was considered an expert on the writings of Karl Marx, [73] wrote that the labor theory of value was largely a tautology and "a typical example of the way metaphysical ideas operate". [74] In ecological economics, the labor theory of value has been criticized, where it is argued that labor is in fact energy over time ...
This includes both market production as well as non-market production, if it recognisably generates an income. The advantage of the wide definition is, that practically all flows of production-related income can be captured (but at the same time a large amount of unpaid work -housework and
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 ...
For labor markets, this has necessitated a shift from the division of labor to being more adaptable to different roles in production, however, it has also led to more involvement in and knowledge of the labor process and greater autonomy over work. There is an increase in non-standard forms of employment.
Thus, Marx's value theory offers an interpretation, generalisation or explanation concerning the "grand averages" of the relative price movements of products, and of economic behaviour in capitalist production as a social system, but it is not possible to deduce specific real product-prices from product-values according to some mathematical ...
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).