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  2. Labour economics - Wikipedia

    en.wikipedia.org/wiki/Labour_economics

    Labour economics can generally be seen as the application of microeconomic or macroeconomic techniques to the labour market. Microeconomic techniques study the role of individuals and individual firms in the labour market.

  3. Work (human activity) - Wikipedia

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

    Work or labor (labour in Commonwealth 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 ...

  4. Division of labour - Wikipedia

    en.wikipedia.org/wiki/Division_of_labour

    The division of labour is the separation of the tasks in any economic system or organisation so that participants may specialise (specialisation).Individuals, organisations, and nations are endowed with or acquire specialised capabilities, and either form combinations or trade to take advantage of the capabilities of others in addition to their own.

  5. Labor theory of value - Wikipedia

    en.wikipedia.org/wiki/Labor_theory_of_value

    In ecological economics, the labor theory of value has been criticized, where it is argued that labor is in fact energy over time. [75] Such arguments generally fail to recognize that Marx is inquiring into social relations among human beings, which cannot be reduced to the expenditure of energy, just as democracy cannot be reduced to the ...

  6. 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 ...

  7. Labour power - Wikipedia

    en.wikipedia.org/wiki/Labour_power

    In turn, the effect would be lower economic growth and a decline in living standards, with increased casualisation of labour and more "contingent labour". It is argued that, because the positions of employees and employers in the market are unequal (it is usually easier for an employer to loose an employee than an employee to loose an employer ...

  8. Human capital - Wikipedia

    en.wikipedia.org/wiki/Human_capital

    The greatest improvement in the productive powers of labor, and the greater part of the skill, dexterity, and judgement with which it is anywhere directed, or applied, seem to have been the effects of the division of labor. There is a complex relationship between the division of labor and human capital.

  9. Law of value - Wikipedia

    en.wikipedia.org/wiki/Law_of_Value

    Products and labour are purchased to manufacture new products which have a higher value in the market than their cost price, resulting in a profit from the added value. In such an economy, Marx argues, what directly regulates the economic exchange of new labour-products is not the law of value, but their prices of production.