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.
Private property is a legal designation for the ownership of property by non-governmental legal entities. Private property is distinguishable from public property, which is owned by a state entity, and from collective or cooperative property, which is owned by one or more non-governmental entities.
In economics, the cost-of-production theory of value is the theory that the price of an object or condition is determined by the sum of the cost of the resources that went into making it. The cost can comprise any of the factors of production and taxation.
David Kenneth Ritz Van Ronk was an American folk singer. An important figure in the American folk music revival and New York City's Greenwich Village scene in the 1960s, he was nicknamed the "Mayor of MacDougal Street".
William Jack Baumol was an American economist. He was a professor of economics at New York University, Academic Director of the Berkley Center for Entrepreneurship and Innovation, and Professor Emeritus at Princeton University. He was a prolific author of more than eighty books and several hundred journal articles. He is the namesake of the Baumol effect.
Reverend Gary Davis, also Blind Gary Davis, was a blues and gospel singer who was also proficient on the banjo, guitar and harmonica. Born in Laurens, South Carolina and blind since infancy, Davis first performed professionally in the Piedmont blues scene of Durham, North Carolina in the 1930s, then converted to Christianity and became a minister. After moving to New York in the 1940s, Davis experienced a career rebirth as part of the American folk music revival that peaked during the 1960s. Davis' most notable recordings include "Samson and Delilah" and "Death Don't Have No Mercy".
Marxism is a political philosophy and method of socioeconomic analysis that uses a materialist interpretation of historical development, better known as historical materialism, to understand class relations and social conflict and a dialectical perspective to view social transformation. It originates from the works of 19th-century German philosophers Karl Marx and Friedrich Engels. As Marxism has developed over time into various branches and schools of thought, no single, definitive Marxist theory exists. Marxism has had a profound impact in shaping the modern world, with various left-wing and far-left political movements taking inspiration from it in varying local contexts.
Development theory is a collection of theories about how desirable change in society is best achieved. Such theories draw on a variety of social science disciplines and approaches. In this article, multiple theories are discussed, as are recent developments with regard to these theories. Depending on which theory that is being looked at, there are different explanations to the process of development and their inequalities.
Stefan Grossman is an American acoustic fingerstyle guitarist and singer, music producer and educator, and co-founder of Kicking Mule records. He is known for his instructional videos and Vestapol line of videos and DVDs.
Samuel Barclay Charters IV was an American music historian, writer, record producer, musician, and poet. He was a widely published author on the subjects of blues and jazz. He also wrote fiction.
Criticism of Marxism has come from various political ideologies, campaigns and academic disciplines. This includes general intellectual criticism about dogmatism, a lack of internal consistency, criticism related to materialism, arguments that Marxism is a type of historical determinism or that it necessitates a suppression of individual rights, issues with the implementation of communism and economic issues such as the distortion or absence of price signals and reduced incentives. In addition, empirical and epistemological problems are frequently identified.
Eric Schoenberg is an American guitarist known for his fingerstyle guitar playing, as well as a recording artist and designer of acoustic guitars. He has performed, toured, recorded and written extensively.
Ben Fine is Professor of Economics at the University of London's School of Oriental and African Studies.
The temporal single-system interpretation (TSSI) of Karl Marx's value theory emerged in the early 1980s in response to renewed allegations that his theory was "riven with internal inconsistencies" and that it must therefore be rejected or corrected. The inconsistency allegations had been a prominent feature of Marxian economics and the debate surrounding it since the 1970s. Andrew Kliman argues that charges of inconsistency serve to legitimate the suppression of Marx's critique of political economy and current-day research based upon it as well as the "correction" of Marx's inconsistencies.
Alex Campbell was a Scottish folk singer, whose nickname was 'Big Daddy'. He was influential in the British folk music revival of the 1950s and 1960s, and was one of the first folk singers in modern times to tour the UK and Europe. He was described by Colin Harper as a "melancholic, hard-travelling Glaswegian" and was known for his story-telling and singing
Criticisms of the labor theory of value affect the historical concept of labor theory of value (LTV) which spans classical economics, liberal economics, Marxian economics, neo-Marxian economics, and anarchist economics. As an economic theory of value, LTV is widely attributed to Marx and Marxian economics despite Marx himself pointing out the contradictions of the theory, because Marx drew ideas from LTV and related them to the concepts of labour exploitation and surplus value; the theory itself was developed by Adam Smith and David Ricardo. LTV criticisms therefore often appear in the context of economic criticism, not only for the microeconomic theory of Marx but also for Marxism, according to which the working class is exploited under capitalism, while little to no focus is placed on those responsible for developing the theory.
Folkways Records was a record label founded by Moses Asch that documented folk, world, and children's music. It was acquired by the Smithsonian Institution in 1987 and is now part of Smithsonian Folkways.
Capital: A Critique of Political Economy, also known as Capital, is a foundational theoretical text in materialist philosophy and critique of political economy written by Karl Marx, published as three volumes in 1867, 1885, and 1894. The culmination of his life's work, the text contains Marx's analysis of capitalism, to which he sought to apply his theory of historical materialism "to lay bare the economic laws of modern society", following from classical political economists such as Adam Smith, Jean-Baptiste Say, David Ricardo and John Stuart Mill. The text's second and third volumes were completed from Marx's notes after his death and published by his colleague Friedrich Engels. Das Kapital is the most cited book in the social sciences published before 1950.
Marxian economics, or the Marxian school of economics, is a heterodox school of political economic thought. Its foundations can be traced back to Karl Marx's critique of political economy. However, unlike critics of political economy, Marxian economists tend to accept the concept of the economy prima facie. Marxian economics comprises several different theories and includes multiple schools of thought, which are sometimes opposed to each other; in many cases Marxian analysis is used to complement, or to supplement, other economic approaches. Because one does not necessarily have to be politically Marxist to be economically Marxian, the two adjectives coexist in usage, rather than being synonymous: They share a semantic field, while also allowing both connotative and denotative differences.
The following outline is provided as an overview of and topical guide to Marxism:
