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The labor theory of value (LTV) is a theory of value that argues that the economic value of a good or service is determined by the total amount of "socially necessary labor" required to produce it.
Karl Marx's theory of alienation describes the estrangement of people from aspects of their human nature as a consequence of the division of labor and living in a society of stratified social classes. The alienation from the self is a consequence of being a mechanistic part of a social class, the condition of which estranges a person from their humanity.
In Marxist philosophy, the term commodity fetishism describes the economic relationships of production and exchange as being social relationships that exist among things and not as relationships that exist among people. As a form of reification, commodity fetishism presents economic value as inherent to the commodities, and not as arising from the workforce, from the human relations that produced the commodity, the goods and the services.
Merchandization is a critical term coined by the anti-globalization movement to designate the process of change in viewpoint of individuals or society towards an object, service or substance. Things that were formerly thought of as "simply being there", are now being thought of as commodities for sale and corporate profit. This change in viewpoint is called merchandization of an object.
Within a capitalist economic system, commodification is the transformation of things such as goods, services, ideas, nature, personal information, people or animals into objects of trade or commodities. A commodity at its most basic, according to Arjun Appadurai, is "anything intended for exchange," or any object of economic value.
Use value or value in use is a concept in classical political economy and Marxist economics. It refers to the tangible features of a commodity which can satisfy some human requirement, want or need, or which serves a useful purpose. In Karl Marx's critique of political economy, any product has a labor-value and a use-value, and if it is traded as a commodity in markets, it additionally has an exchange value, most often expressed as a money-price.
In political economy and especially Marxian economics, exchange value refers to one of the four major attributes of a commodity, i.e., an item or service produced for, and sold on the market, the other three attributes being use value, economic value, and price. Thus, a commodity has:
Capital accumulation is the dynamic that motivates the pursuit of profit, involving the investment of money or any financial asset with the goal of increasing the initial monetary value of said asset as a financial return whether in the form of profit, rent, interest, royalties or capital gains. The aim of capital accumulation is to create new fixed and working capitals, broaden and modernize the existing ones, grow the material basis of social-cultural activities, as well as constituting the necessary resource for reserve and insurance. The process of capital accumulation forms the basis of capitalism, and is one of the defining characteristics of a capitalist economic system.
Simple commodity production, also known as petty commodity production, is a term coined by Friedrich Engels to describe productive activities under the conditions of what Karl Marx had called the "simple exchange" of commodities, where independent producers trade their own products. The use of the word simple does not refer to the nature of the producers or of their production, but rather to the relatively simple and straightforward exchange processes involved.
Productive forces, productive powers, or forces of production is a central idea in Marxism and historical materialism.
The Great Transformation is a book by Karl Polanyi, a Hungarian-American political economist. First published in 1944 by Farrar & Rinehart, it deals with the social and political upheavals that took place in England during the rise of the market economy. Polanyi contends that the modern market economy and the modern nation-state should be understood not as discrete elements but as the single human invention he calls the "Market Society".
Abstract labour and concrete labour refer to a distinction made by Karl Marx in his critique of political economy. It refers to the difference between human labour in general as economically valuable worktime versus human labour as a particular activity that has a specific useful effect within the (capitalist) mode of production.
In classical political economy and especially Karl Marx's critique of political economy, a commodity is any good or service produced by human labour and offered as a product for general sale on the market. Some other priced goods are also treated as commodities, e.g. human labor-power, works of art and natural resources, even though they may not be produced specifically for the market, or be non-reproducible goods. This problem was extensively debated by Adam Smith, David Ricardo, and Karl Rodbertus-Jagetzow, among others. Value and price are not equivalent terms in economics, and theorising the specific relationship of value to market price has been a challenge for both liberal and Marxist economists.
The value-form or form of value is a concept in Karl Marx's critique of political economy. Marx's account of the value-form is differently adopted in later forms of Marxism, in the Frankfurt School and in post-Marxism. When social labor is split up into independent enterprises and organized capitalistically, its products take the form of an ensemble of commodities of diverse types, which face one another on the market.
The commodification of nature is an area of research within critical environmental studies that is concerned with the ways in which natural entities and processes are made exchangeable through the market, and the implications thereof.
Marxist humanism is an international body of thought and political action rooted in a humanist interpretation of the works of Karl Marx. It is an investigation into "what human nature consists of and what sort of society would be most conducive to human thriving" from a critical perspective rooted in Marxist philosophy. Marxist humanists argue that Marx himself was concerned with investigating similar questions.
In Marxism, reification is the process by which social relations are perceived as inherent attributes of the people involved in them, or attributes of some product of the relation, such as a traded commodity. This concept specifies the dialectical relationship between social existence and social consciousness – that is, between objective social relations and the subjective apprehension of those relations – in a society dominated by commodity production.
Relations of production is a concept frequently used by Karl Marx and Friedrich Engels in their theory of historical materialism and in Das Kapital. It is first explicitly used in Marx's published book The Poverty of Philosophy, although Marx and Engels had already defined the term in The German Ideology.
Historical materialism is the term used to describe Karl Marx's theory of history. Marx locates historical change in the rise of class societies and the way humans labor together to make their livelihoods. For Marx and his lifetime collaborator, Friedrich Engels, the ultimate cause and moving power of historical events are to be found in the economic development of society and the social and political upheavals wrought by changes to the mode of production. Historical materialism provides a challenge to the view that historical processes have come to a close and that capitalism is the end of history. Although Marx never brought together a formal or comprehensive description of historical materialism in one published work, his key ideas are woven into a variety of works from the 1840s onward. Since Marx's time, the theory has been modified and expanded. It now has many Marxist and non-Marxist variants.
The Double Movement is a concept originating with Karl Polanyi in his book The Great Transformation. The phrase refers to the dialectical process of marketization and push for social protection against that marketization. First, laissez-faire reformers seek to "disembed" the economy in order to establish what Polanyi calls a "market society" wherein all things are commodified, including what Polanyi terms "false commodities": land, labor, and money. Second, a reactionary "countermovement" arises whereby society attempts to re-embed the economy through the creation of social protections such as labor laws and tariffs. In Polanyi's view, these liberal reformers seek to subordinate society to the market economy, which is taken by these reformers to be self-regulating. To Polanyi, this is a utopian project, as economies are always embedded in societies.
References
- ↑ Polanyi, Karl (2001) [1944]. The Great Transformation: The Political and Economic Origins of Our Time (2nd ed.). Beacon Press. ISBN 978-0807056431.
- ↑ Farrell, Henry (18 July 2014). "The free market is an impossible utopia". The Washington Post . Retrieved 23 March 2018.
- 1 2 Marx, Karl (1992) [1867]. Capital: Critique of Political Economy . Penguin Classics. ISBN 978-0140445688.
- 1 2 Bollier, David (24 February 2009). "Why Karl Polanyi Still Matters". On The Commons. Retrieved 23 March 2018.
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