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The non-labor or capital share (NLS) is defined as 1 − LS. [ 7 ] In Capital in the Twenty-First Century , Piketty described the accounting identity α = r × β as the 'first fundamental law of capitalism', where α represents the capital share, r is the rate of return on capital, and β is the capital to income ratio. [ 8 ]
Working capital (WC) is a financial metric which represents operating liquidity available to a business, organisation, or other entity, including governmental entities. Along with fixed assets such as plant and equipment, working capital is considered a part of operating capital. Gross working capital is equal to current assets.
Capital intensity is the amount of fixed or real capital present in relation to other factors of production, especially labor. At the level of either a production process or the aggregate economy, it may be estimated by the capital to labor ratio, such as from the points along a capital/labor isoquant .
The Secretariat of Labour, Employment and Social Security (Spanish: Secretaría de Trabajo, Empleo y Seguridad Social) is a secreariat and former ministry of the Argentine Government tasked with overseeing the country's public policies on labour conditions, employment and social security. It was established in December 1943.
Variable capital, by contrast, refers to the capital outlay on labour costs insofar as they represent workers' earnings, the sum total of wages. The concept of constant vs. variable capital contrasts with that of fixed vs. circulating capital (used not only by Marx but by David Ricardo and other classical economists). The latter distinction ...
Labor and Monopoly Capital: The Degradation of Work in the Twentieth Century is a book about the economics and sociology of work under monopoly capitalism by the political economist Harry Braverman. Building on Monopoly Capital by Paul A. Baran and Paul Sweezy , it was first published in 1974 by Monthly Review Press .
[12] That this objection is fundamental follows immediately from Marx's conclusion that wage labour is the very foundation of capitalism: "Without a class dependent on wages, the moment individuals confront each other as free persons, there can be no production of surplus value; without the production of surplus-value there can be no capitalist ...
Wage Labour and Capital" (German: Lohnarbeit und Kapital) was an 1847 lecture by the critic of political economy and philosopher Karl Marx, first published as articles in the Neue Rheinische Zeitung in April 1849. [1]