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  2. Labour economics - Wikipedia

    en.wikipedia.org/wiki/Labour_economics

    Labour economics, or labor economics, seeks to understand the functioning and dynamics of the markets for wage labour. Labour is a commodity that is supplied by labourers , usually in exchange for a wage paid by demanding firms.

  3. Wage labour - Wikipedia

    en.wikipedia.org/wiki/Wage_labour

    Wage labour (also wage labor in American English), usually referred to as paid work, paid employment, or paid labour, refers to the socioeconomic relationship between a worker and an employer in which the worker sells their labour power under a formal or informal employment contract. [1]

  4. 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 ...

  5. Labour supply - Wikipedia

    en.wikipedia.org/wiki/Labour_supply

    In mainstream economic theories, the labour supply is the total hours (adjusted for intensity of effort) that workers wish to work at a given real wage rate. It is frequently represented graphically by a labour supply curve, which shows hypothetical wage rates plotted vertically and the amount of labour that an individual or group of ...

  6. 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 ...

  7. Abstract labour and concrete labour - Wikipedia

    en.wikipedia.org/wiki/Abstract_labour_and...

    For some, abstract labour is an economic category which applies only to the capitalist mode of production, [19] i.e. it applies only, when human labour power or work-capacity is universally treated as a commodity with a certain monetary cost or earnings potential. [20] Thus Professor John Weeks claims that

  8. Labor force in the United States - Wikipedia

    en.wikipedia.org/wiki/Labor_force_in_the_United...

    The labor force participation rate, LFPR (or economic activity rate, EAR), is the ratio between the labor force and the overall size of their cohort (national population of the same age range). Much as in other countries in the West , the labor force participation rate in the U.S. increased significantly during the later half of the 20th ...

  9. Work (human activity) - Wikipedia

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

    Work or labor (labour in British 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 economy .