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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 ...
They made this statement to the Bourgeoisie in the Communist Manifesto: "Your very ideas are but the outgrowth of conditions of your bourgeois production and bourgeois property, just as your jurisprudence is but the will of your class, made into law for all, a will whose essential character and direction are determined by the economic ...
In the third volume of Das Kapital, Marx discusses how the market value (or "regulating price") of a commodity may be determined under different conditions of demand and productivity. A given mass of new value is produced in a given time, but if and how this new value is realised in money terms and distributed as income and reinvestment is ...
The socialist mode of production, also known as socialism or communism, [a] is a specific historical phase of economic development and its corresponding set of social relations that emerge from capitalism in the schema of historical materialism within Marxist theory.
The prices that were constructed were determined after the formulation of the economy plan, and such prices did not factor into choices about what was produced and how it was produced in the first place. full employment. Every worker was ensured employment. However workers were generally not directed to jobs.
Furniture giant IKEA has agreed to pay 6 million euros ($6.5 million) towards a government fund compensating victims of forced labour under Germany’s communist dictatorship, in a move ...
In 19th century Europe, the use of the terms communism and socialism eventually accorded with the cultural attitude of adherents and opponents towards religion. In European Christendom, communism was believed to be the atheist way of life. In Protestant England, communism was too phonetically similar to the Roman Catholic communion rite, hence ...
Now 30 years removed from 1989's "annus mirabilis" -- Central and Eastern Europe's year of miracles, when communist regimes seemingly toppled like dominoes -- it's easy to focus on the Western ...