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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.
As part of his theory, Smelser used the concept of value-added as a metaphor to describe how collective actions occur. Smelser's value added theory (or strain theory) argued that six elements were necessary for a particular kind of collective behavior to emerge: [ 10 ]
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 .
Value-added theory – Professor Neil Smelser (1930-2017) argues that collective behavior is actually a sort of release-valve for built-up tension ("strain") within a social system, community, or group. [5] If the proper determinants are present then collective behavior becomes inevitable.
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 ...
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Ordering dim sum for the first time can be an exhilarating — and overwhelming — experience. Some larger restaurants like Yank Sing, a popular dim sum hot spot in San Francisco, offer over 100 ...
Hence, Marx's use of Mehrwert has always been translated as "surplus value", distinguishing it from "value-added". According to Marx's theory, surplus value is equal to the new value created by workers in excess of their own labor-cost, which is appropriated by the capitalist as profit when products are sold.