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  2. Factors of production - Wikipedia

    en.wikipedia.org/wiki/Factors_of_production

    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 ...

  3. 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.

  4. Capitalism - Wikipedia

    en.wikipedia.org/wiki/Capitalism

    The term "capitalist", meaning an owner of capital, appears earlier than the term "capitalism" and dates to the mid-17th century. "Capitalism" is derived from capital , which evolved from capitale , a late Latin word based on caput , meaning "head"—which is also the origin of " chattel " and " cattle " in the sense of movable property (only ...

  5. Isoquant - Wikipedia

    en.wikipedia.org/wiki/Isoquant

    In managerial economics, isoquants are typically drawn along with isocost curves in capital-labor graphs, showing the technological tradeoff between capital and labor in the production function, and the decreasing marginal returns of both inputs. In managerial economics, the unit of isoquant is commonly the net of capital cost.

  6. Human capital - Wikipedia

    en.wikipedia.org/wiki/Human_capital

    Human capital is the value that the employees of a business provide through the application of skills, know-how and expertise. [43] It is an organization's combined human capability for solving business problems. Human capital is inherent in people and cannot be owned by an organization.

  7. Capital (economics) - Wikipedia

    en.wikipedia.org/wiki/Capital_(economics)

    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 ...

  8. Rerum novarum - Wikipedia

    en.wikipedia.org/wiki/Rerum_novarum

    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.

  9. Labour law - Wikipedia

    en.wikipedia.org/wiki/Labour_law

    Belgian law guarantees workers the right to unionize and bargain collectively, and all workers except those in the military have the right to strike. Although compulsory labor is illegal, individuals from Eastern Europe, sub-Saharan Africa, and Asia are trafficked to Belgium for prostitution and other kinds of forced labor. [ 56 ]