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Value-added theory (also known as social strain theory) is a sociological theory, first proposed by Neil Smelser in 1962, which posits that certain conditions are needed for the development of a social movement.
The labor theory of value (LTV) is a theory of value that argues that the exchange value of a good or service is determined by the total amount of "socially necessary labor" required to produce it. The contrasting system is typically known as the subjective theory of value .
In microeconomics, value added may be defined as the market value of aggregate output of a transformation process, minus the market value of aggregate input (or aggregate inputs) of a transformation process. One may describe value added with the help of Ulbo de Sitter's design theory for production synergies. He divides transformation processes ...
Marx's term is the German word "Mehrwert", which simply means value added (sales revenue minus the cost of materials used up), and is cognate to English "more worth". It is a major concept in Karl Marx's critique of political economy. Conventionally, value-added is equal to the sum of gross wage income and gross profit income.
Which value theory holds true divides economic thinkers, and is the base for many socioeconomic and political beliefs. [11] Silvio Gesell denied value theory in economics. He thought that value theory is useless and prevents economics from becoming science and that a currency administration guided by value theory is doomed to sterility and ...
Value theory is the interdisciplinary study of values.Also called axiology, it examines the nature, sources, and types of values.Primarily a branch of philosophy, it is an interdisciplinary field closely associated with social sciences like economics, sociology, anthropology, and psychology.
Value-added reseller, a company that adds features to an existing product, then resells it, usually to end-users; Value-added service, extra services in the telecommunications industry; Value-added network, a hosted service offering that acts as an intermediary between business partners; Value-added theory, a sociological theory that describes ...
One theory is the "embodied" labour theory of value (or crystallized labour), the other theory is a "cost" theory of value. "Crystalized labor highlights exploitation and fixes the locus of surplus generation in production; real-cost labor values obscure the generation of surplus and open up the possibility that the global magnitude of profit ...