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In mainstream economics, economic surplus, also known as total welfare or total social welfare or Marshallian surplus (after Alfred Marshall), is either of two related quantities: Consumer surplus , or consumers' surplus , is the monetary gain obtained by consumers because they are able to purchase a product for a price that is less than the ...
Theories of Surplus Value (German: Theorien über den Mehrwert) is a draft manuscript written by Karl Marx between January 1862 and July 1863. [1] It is mainly concerned with the Western European theorizing about Mehrwert (added value or surplus value ) from about 1750, critically examining the ideas of British, French and German political ...
By the Age of Enlightenment in the 18th century the French physiocrats were already writing on the surplus value that was being extracted from labor by "the employer, the owner, and all exploiters" although they used the term net product. [3] The concept of surplus value continued to be developed under Adam Smith who also used the term "net ...
The Cambridge economist Piero Sraffa returned to the classical economic meaning of "surplus", [50] but his concept differs from Marx's in at least three important ways: (1) The substance of Sraffa's surplus is not a claim on the surplus labour of others but a physical surplus, i.e. the value of physical output less the value of physical inputs ...
In economics, an excess supply, economic surplus [1] market surplus or briefly supply is a situation in which the quantity of a good or service supplied is more than the quantity demanded, [2] and the price is above the equilibrium level determined by supply and demand. That is, the quantity of the product that producers wish to sell exceeds ...
Surplus labour (German: Mehrarbeit) is a concept used by Karl Marx in his critique of political economy.It means labour performed in excess of the labour necessary to produce the means of livelihood of the worker ("necessary labour").
"Behavioral sink" is a term invented by ethologist John B. Calhoun to describe a collapse in behavior that can result from overpopulation.The term and concept derive from a series of over-population experiments Calhoun conducted on Norway rats between 1958 and 1962. [1]
The dominant account of extinction involves associative models. However, there is debate over whether extinction involves simply "unlearning" the unconditional stimulus (US) – Conditional stimulus (CS) association (e.g., the Rescorla–Wagner account) or, alternatively, a "new learning" of an inhibitory association that masks the original excitatory association (e.g., Konorski, Pearce and ...