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Topics related to "Labor theory of value"

value
value in economics, worth of a commodity in terms of other commodities, or in terms of money (see price ). Value depends on both desirability and scarcity. The marginal theory of value, pioneered in the late 19th cent. by Leon Walras , Stanley Jevons , and Carl Menger , has been highly influent... Read more
David Ricardo
David Ricardo 1772-1823, British economist, of Dutch-Jewish parentage. At the age of 20 he entered business as a stockbroker and was so skillful in the management of his affairs that within five years he had amassed a huge fortune. He then turned much of his attention to scientific topics, and in 1... Read more
Émile Durkheim
Émile Durkheim , 1858-1917, French sociologist. Along with Max Weber he is considered one of the chief founders of modern sociology. Educated in France and Germany, Durkheim taught social science at the Univ. of Bordeaux and the Sorbonne. His view that the methods of natural science can be ... Read more
wages
wages payment received by an employee in exchange for labor. It may be in goods or services but is customarily in money. The term in a broad sense refers to what is received in any way for labor, but wages usually refer to payments to workers who are paid by the hour, in contrast to a salary, whi... Read more
Planck's constant
Planck's constant , fundamental constant of the quantum theory . It is represented by the letter h and has a value of 6.63 × 10 -34 J-sec. The combination h /2π, denoted by h (called "h-bar" ), occurs frequently. ... Read more
Ralph Barton Perry
Ralph Barton Perry 1876-1957, American realist philosopher, b. Poultney, Vt., grad. Princeton (B.A., 1896) and Harvard (Ph.D., 1899). He taught at Harvard from 1902, becoming professor of philosophy in 1913 and professor emeritus in 1946. He revised (1925) Alfred Weber's History of Philosophy. Ed... Read more
William Stanley Jevons
William Stanley Jevons , 1835-82, English economist and logician. After working in Australia as assayer to the mint, he taught at Owens College, Manchester, and University College, London. His major contribution to economics was his marginal utility theory of value; Jevons held that value was determ... Read more
Marxism
Marxism economic and political philosophy named for Karl Marx . It is also known as scientific (as opposed to utopian) socialism. Marxism has had a profound impact on contemporary culture; modern communism is based on it, and most modern socialist theories derive from it (see socialism ). It ha... Read more
Bernard Bosanquet
Bernard Bosanquet , 1848-1923, English philosopher, educated at Oxford. He lectured there (1871-81) and at St. Andrews (1903-8). His major works include A History of Aesthetic (1892), The Philosophical Theory of the State (1899), and The Value and Destiny of the Individual (1913). They exempli... Read more
distribution
distribution in economics, the allocation of a society's total wealth among various economic groups. Distribution, in that sense, does not refer to the physical marketing or circulation of goods, which is part of the process of exchange, but to the relative well-being and economic wealth of perso... Read more

Encyclopedia entries related to "Labor theory of value"

Labor Theory of Value
Encyclopedia entry from: Encyclopedia of Russian History LABOR THEORY OF VALUE The labor theory of value may be traced to the writings of John Locke, an English philosopher of the late 1600s. While Locke assumed that all the resources that were found in nature had been provided by God and therefore...
Labor, Surplus: Marxist And Radical Economics
Encyclopedia entry from: International Encyclopedia of the Social Sciences Labor, Surplus: Marxist And Radical Economics The theory of capitalist accumulation devised by...1818 – 1883) rests upon the labor theory of value, according to which capitalists (i...
Economics, Labor
Encyclopedia entry from: International Encyclopedia of the Social Sciences ...versions of the labor theory of value, which states that...is the amount of labor embodied in it...x201C; surplus value. ” Subsequently...World War II era, labor economics became...neoclassical economic theory (assumptions of...
Value, Objective
Encyclopedia entry from: International Encyclopedia of the Social Sciences ...one or another version of the “ labor theory of value ” and sometimes under a “...and wages. Transforming the classical labor theory of value, Marx argued that living labor was the sole source of new value and that...
Value
Encyclopedia entry from: International Encyclopedia of the Social Sciences ...tradition of economic thought that took labor costs to be the key to a proper...Ronald Meek in his Studies in the Labor Theory of Value (1976). However, Marx also argued...represents exploited (unpaid) labor and all forms of property income...
Exchange Value
Encyclopedia entry from: International Encyclopedia of the Social Sciences ...commodities have their exchangeable value determined by the quantity of labour...1817] 1951, p. 12). This labor theory of value, which was present in a more ambiguous...Marx. The relationship between labor values and prices has been a source...
value
Book article from: The Columbia Encyclopedia, Sixth Edition ...holding that the total value of a good depends on...David Ricardo 's earlier labor theory of value, which holds that the...reduced to the cost of labor, either paid in wages...production. In the marginal theory of value, there is an exchange...
Labor, Marginal Product of
Encyclopedia entry from: International Encyclopedia of the Social Sciences ...increase in the use of labor. Moreover, modern...neoclassical production theory assumes that labor (and the other...marginal productivity theory, since at the very...With respect to labor (p and w are...equation represents the value of the marginal...
Labor Day
Encyclopedia entry from: Encyclopedia of Russian History LABOR DAY The labor day ( trudoden ) was a mechanism for calculating the labor payment of peasants belonging...collective farms. In theory the collective farm was...was assigned a number of labor days, according to the...have some sense of the value of a labor day from past...
Transformation Problem
Encyclopedia entry from: International Encyclopedia of the Social Sciences ...between Marx ’ s labor theory of value and the tendency of profit...equalize across industries. The labor theory of value, which assumes that labor...value is determined by the labor theory of value). The average profit in...

Dictionary entries related to "Labor theory of value"

Modernization Theory
Dictionary entry from: New Dictionary of the History of Ideas ...for granted the lingering value of the theory as a framework for understanding...same themes as modernization theory. A half century after the theory burst into the academic limelight...into a global division of labor, a breakdown of social barriers...
Krylov, Aleksei Nikolaevich
Dictionary entry from: Complete Dictionary of Scientific Biography ...began research on a theory of compass deviation...his work in compass theory) and the title of hero of socialist labor. While using mathematics...mechanics to work out his theory of ships, Krylov...or solving boundary value problems, pointing...
Petrovsky, Ivan Georgievich
Dictionary entry from: Complete Dictionary of Scientific Biography ...works dealt with the theory of partial differential...and surfaces, and the theory of probability. After...of Hero of Socialist Labor. He was also a member...equation (1928) and the theory of functions of a real...the first boundary-value problem for the heat...
Economics
Dictionary entry from: New Dictionary of the History of Ideas ...land), capital, labor, entrepreneurship...decision making, theory, and management...and the theories of value and price, and it...that microeconomic theory originated. Microeconomics...production, and the theory of markets. It deals...and the sources of value. Human nature has...
Inflation
Dictionary entry from: Dictionary of American History ...to the base year. The value of the consumer price...was 167, relative to a value of 100 in 1982 (the base...important in understanding the theory behind the effects of...factors of production, like labor) — does not...supplied. The nominal value of GNP (gross national...
Family
Dictionary entry from: Dictionary of American History ...households' expanding or contracting labor needs. Even in the most healthful...Colonial society attached little value to domestic privacy. Community...proper family government. In theory, the seventeenth-century...more rigid gender division of labor within the home. Themes and...
Intellectual Property
Dictionary entry from: Dictionary of American History ...copyrights provide rewards proportional to the value of the work. By exploiting monopolies...rights to harvest crops that have required labor to plant and tend. Patents are granted...trademarks more property like).Whatever the theory, the practice persists of calling trademarks...

Related newspaper, magazine, and trade journal articles from HighBeam Research

The labor theory of value and the strategic role of alienation.
Magazine article from: Capital & Class; 6/22/2002; ; 700+ words ; ...example, in reference to the labor theory of value, what is the social content...of alienation in Marx's labor theory of value, and thus refutes the Althusserian...argues that Marx gleaned the labor theory of value from the British Classical...
The meaning and significance of the transformation problem: two contrasting approaches. (Karl Marx's labor theory of value)
Magazine article from: Atlantic Economic Journal; 12/1/1989; ; 700+ words ; ...transformation problem" is at the heart of the Marxian labor theory of value. The topic has always been the subject of sharp...among Marxists themselves about the nature of the labor theory of value. After defining some of Marx's terms, the paper...
Class Action: Reading Labor, Theory and Value.(Review)
Magazine article from: Labour/Le Travail; 3/22/2001; ; 700+ words ; ...Action: Reading Labor, Theory and Value (Ithaca: Cornell...therefore the labour theory of value and the priority...complex one: "labor's only possible...does not exhaust Labor's possibilities...problematizes a labour theory of value that would claim...
The labor department theory of value.
Magazine article from: The American Prospect; 2/1/2003; 700+ words ; ...100 by January 2002. But the Department of Labor has denied its D.C.-based workers that...that Clinton authorized. Now, there's a Labor Department unafraid of new paradigms in labor-management relations--in this case, schooling...
A unified theory of capital and labor markets in major league baseball.
Magazine article from: Southern Economic Journal; 1/1/1997; ; 700+ words ; ...labor market. I. A Unified Capital and Labor Theory The Irrelevance Proposition A unified theory of capital and labor markets has been deemed difficult, if...separation principle holds that "the market value of any firm is independent of its capital...
Paradoxes of Labor Reform: Chinese Labor Theory and Practice from Socialism to Market
Magazine article from: The China Journal; 1/1/2005; ; 700+ words ; Paradoxes of Labor Reform: Chinese Labor Theory and Practice from Socialism to Market...understanding of the present Chinese labor market requires the historical knowledge...can be made without diminishing the value of his analysis. The historical...
Illicit drug use and labor market outcomes: A review of economic theory and its empirical implications
Magazine article from: Journal of Drug Issues; 7/1/1998; ; 700+ words ; ...between drug use and labor market outcomes make...effect of drug use on labor market outcomes. Economic theory is well suited to this...mean values for several labor market outcomes by age...studies are of little value to policymakers because...
What gives work its value?; the human worth of a physical product ; a modern reinterpretation of the theory of Karl Marx.(Brief article)(Book review)
Magazine article from: Reference & Research Book News; 11/1/2006; 515 words ; ...HB201 Reconstructing Marx's theory of labor value, Wilson (London Metropolitan...argues that implicit in the theory is an argument for the non...material productive activity and labor that produces value. In this formulation, labor...
Health insurance and job mobility: theory and evidence. (Health Care and the Labor Market)
Magazine article from: Industrial and Labor Relations Review; 10/1/1994; ; 700+ words ; ...economy-wide implications for labor market efficiency and worker productivity. Since free labor market mobility enables workers...periods of nonparticipation in the labor market, is an important aspect...current employment (that is, value of marginal product [VMP...
Keeping land in capital theory: Ricardo, Faustmann, Wicksell and George.(Conceptual Debates Regarding Land and Rent)(Essay)
Magazine article from: The American Journal of Economics and Sociology; 1/1/2008; ; 700+ words ; ...of capital to labor. He wove these together in his theory of value. He saw how the...commerce, industry, labor, and capital...How Ricardo's Theory of Value Includes Land...call that a "labor theory of value," as some do...