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Concept in economics
In Marxian economics, surplus value is the difference between the amount raised through a sale of a product and the amount it cost to manufacture it:
Surplus_value
Theory in classical and Marxian economics
explain the origin of surplus value and exploitation under capitalism, arguing that profit originates from the unpaid surplus labor of workers. From
Labor_theory_of_value
Literary work by Karl Marx
Theories of Surplus Value (German: Theorien über den Mehrwert) is a draft manuscript written by Karl Marx between January 1862 and July 1863. It is mainly
Theories_of_Surplus_Value
Three-volume work by Karl Marx, 1867–1894
exploitation of labour, whose unpaid work is the ultimate source of surplus value and profit. Beginning with an analysis of the commodity, Marx argues
Das_Kapital
School of economic thought
distribution of the surplus product and surplus value in various types of economic systems, the nature and origin of economic value, the impact of class
Marxian_economics
Economic concept theorised by Karl Marx
time (notably by the Physiocrats), but in Das Kapital, Theories of Surplus Value and the Grundrisse Marx gave the concept a central place in his interpretation
Surplus_product
Economic concept
is presented in the volumes of Theories of Surplus Value and Das Kapital. Marx explains the origin of surplus labour in the following terms: "It is only
Surplus_labour
Pricing problem in Marxism
difficulty was this: given that Marx derived profit, in the form of surplus value, from direct labour inputs, and that the ratio of direct labour input
Transformation_problem
German philosopher and socialist (1818–1883)
Surplus Value, which discussed and critiqued the theoreticians of political economy, particularly Adam Smith and David Ricardo. Theories of Surplus Value
Karl_Marx
Concept in economics
In mainstream economics, economic surplus, also known as total welfare or total social welfare or Marshallian surplus (after Alfred Marshall), is either
Economic_surplus
Topics referred to by the same term
Look up surplus in Wiktionary, the free dictionary. Surplus may refer to: Economic surplus, one of various supplementary values Excess supply, a situation
Surplus
Economic phenomenon
of surplus value as the proportion between surplus value/product and necessary value/product. The surplus value/product is the materialized surplus labour
Exploitation_of_labour
Political philosophy
such conditions, surplus value—the difference between the value produced and the value received by a labourer—is synonymous with surplus labour, and capitalist
Marxism
Literary work by Karl Marx
heart of the argument is the labour theory of value and the related premise that profit represents surplus value created by labour working above and beyond
Value,_Price_and_Profit
Class of wage-earners
to survive and continue working. The second part, called capitalized surplus value, is used to renew or increase the means of production (capital), either
Proletariat
Social class
factories, land, and technology. By employing the proletariat, they extract surplus value from the workers' labour, a process fundamental to the functioning and
Bourgeoisie
How well a commodity fulfills human purposes
property claim to surplus value, is indifferent to particular use-values—what matters in this financial relation is only whether more value can be appropriated
Use_value
Concept in Karl Marx's critique of political economy
concept of the law of value in his works Grundrisse, A Contribution to the Critique of Political Economy, Theories of Surplus Value and Das Kapital, he
Law_of_value
Single transferable vote counting rule
the Candidates Total Value’ of votes (Sv = Ctvv-Q) Surplus Transfer Value (Stv) means the value calculated by the Surplus value (Sv) divided by the Candidate’s
Wright_system
Concept in Marxist theory
productivity. This allows for the extraction of relative surplus-value by lowering the value of labour-power. Later Marxist thinkers, including the Italian
Subsumption_(Marxism)
Capitalism featuring rent-seeking without wealth creation
used by Karl Marx himself, it is compatible with the Marxist idea of surplus value extraction. In his early works, Karl Marx juxtaposes the terms "rentier"
Rentier_capitalism
Process of using materials to produce something
usual. Surplus value indicates that the output has more value than the sacrifice made for it, in other words, the output value is higher than the value (production
Production_(economics)
Marxist concept
depending on the context, for example as "creation of surplus-value", "self-expanding value", "increase in value" and similar expressions. These renderings were
Valorisation
Inputs used in the production of goods and services with economic value
consist of anything that enables or could enable the extraction of surplus value (exploitation). Similarly, for Proudhon, goods not meant for immediate
Means_of_production
2023 United States Supreme Court case
unpaid taxes, when the value of the property seized is greater than the tax debt. A unanimous court held that the surplus value is protected by the Fifth
Tyler_v._Hennepin_County
Hypothesis in Marxist economics
the value of labor power (the immiseration thesis). Cheapening the elements of constant capital by various means. The growth of a relative surplus population
Tendency of the rate of profit to fall
Tendency_of_the_rate_of_profit_to_fall
Proportion of worth at which a commodity can be traded for other commodities
initially bought to produce it, as well as a gross profit component (surplus value) which became definite and manifest only after the commodity has been
Exchange_value
Benefit provided by a good or service in an economy
between the value to the consumer and the market price is called "consumer surplus". It is easy to see situations where the actual value is considerably
Value_(economics)
Difference between input value and market value
labour Surplus value United Nations System of National Accounts (UNSNA) Valorisation Value (marketing) Value-added reseller Value chain Value product
Value_added
Systems of organizing production and distribution within capitalist societies
characterized by private ownership of the means of production, extraction of surplus value by the owning class for the purpose of capital accumulation, wage-based
Capitalist_mode_of_production
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. Nonetheless
Criticisms of the labour theory of value
Criticisms_of_the_labour_theory_of_value
Concept in game theory
players in the subset | S | {\displaystyle |S|} . Interpret that as the surplus value player i {\displaystyle i} gains from this coalition further divide
Shapley_value
Concept in economics
its productive powers without committing suicide. In the Theories of Surplus Value ("Volume IV" of Das Kapital, 1863), Marx refines this theory to distinguish
Creative_destruction
Book by Moishe Postone
Postone. While Marx's theory of surplus value is often interpreted as a theory of exploitation, Postone rather examines the value in this temporal dynamic.
Time, Labor and Social Domination
Time,_Labor_and_Social_Domination
assumptions are that the value of labour power is proportionate to the actual wage rate, that the ratio of variable capital to surplus value is given by the price
Criticism_of_Marxism
Concept in Marxian economics
(surplus-value) to the total amount of wages paid (the value of labour power). The rate of exploitation is often also called the rate of surplus-value
Rate_of_exploitation
German political scientist (born 1957)
argument requires the presumption that the rate of surplus-value grows faster than the ratio of capital to value, which cannot be demonstrated from the concepts
Michael_Heinrich
Economic concepts used by Karl Marx
production. Rent as an economic category is regarded by Marx as one form of surplus value just like net interest income, net production taxes and industrial profits
Differential and absolute ground rent
Differential_and_absolute_ground_rent
Concept created by Karl Marx
constant capital to newly produced value (roughly, what modern economists call "value added"), i.e., surplus-value + variable capital and close to the
Organic composition of capital
Organic_composition_of_capital
Theory of social stratification and conflict
relationship is inherently exploitative, as the capitalists extract surplus value from the workers' labor. This economic antagonism is the root of class
Marx's_theory_of_class
Economic theories regarding cyclical recessions
in a progressive increase of the absolute mass of the appropriated surplus value, or profit; so that on the whole a relative decrease of variable capital
Crisis_theory
Work by Karl Marx, written 1857–1858
between value, exchange-value, and use-value. Similarly, while the Grundrisse contains the first full elaboration of the concept of surplus value, its presentation
Grundrisse
Modern politico-economic ideology
concept of value and supplementary relation to Marx's category of surplus value. According to Baran's categories: Actual economic surplus: "the difference
Neo-Marxism
Concept which originated in the thought of Karl Marx
who possess the means of production, who exploit the proletariat for surplus value, as the proletarians possess only their own labour power which they
Mode_of_production
1848 political pamphlet by Karl Marx and Friedrich Engels
bourgeoisie was not disappearing, for example, in his 1863 work, Theories of Surplus Value. The obscurity of his later work means that Marx's acknowledgement of
The_Communist_Manifesto
Economic system based on private ownership
defined by private ownership of the means of production, extraction of surplus value by the owning class for the purpose of capital accumulation, wage-based
Capitalism
National accounts measure of operating profit
of the surplus accruing from production before deducting property income, e.g., land rent and interest. Operating surplus is a component of value added
Operating_surplus
Concept in economics
received from its outputs and total costs of its inputs, also known as "surplus value". It is equal to total revenue minus total cost, including both explicit
Profit_(economics)
Systematic study of values
philosopher Karl Marx extended the labor theory of value in various ways. He introduced the concept of surplus value, which goes beyond the time and resources
Value_theory
Capacity to do work in Marxism
have been able to make any profit, to realise any surplus-value, since according to the law of value exchange is between equivalents, an equal quantity
Labour_power
Marxist doctrine
as such". Since the value of these claims does not function as capital, is merely a claim on future surplus, "the capital-value of such paper is...wholly
Fictitious_capital
Central concept in Marxian critique of political economy
discussion of the form of value in Marx's Grundrisse and Theories of Surplus Value). Marx calls commodities, as a basic form of value, "the economic cell-form
Value-form
Marxist concept
Superprofit, surplus profit or extra surplus-value (German: extra-Mehrwert) is a concept in Karl Marx's critique of political economy subsequently elaborated
Superprofit
Capital invested in means of production
generate surplus value by confusing depreciation, or the loss of value by a machine, with value creation". His argument is, that a machine can add value to
Constant_and_variable_capital
Dominant post-WWII post-industrial global economy
of the rate of surplus value; (iv) the development of the rate of accumulation, and more specifically the reinvestment of surplus value in production;
Late_capitalism
The last five money-incomes are components of realized surplus value. In principle, the value product also includes unsold inventories of new outputs
Value_product
Dynamic that motivates pursuit of profit
asset value that is used by capitalists to obtain additional value (surplus-value). This requires property relations which enable objects of value to be
Capital_accumulation
Marxian economic concept
"relative surplus population", except that the unemployed can be defined as those actually looking for work and that the relative surplus population
Reserve_army_of_labour
Already-produced durable goods that are used in production of goods or services
of surplus-value. It is called "variable" since the amount of value it can produce varies from the amount it consumes, i.e., it creates new value. On
Capital_(economics)
1864 letter written by Karl Marx to Abraham Lincoln
labor theory of value that Marx advocated for: The prudent, penniless beginner in the world, labors for wages awhile, saves a surplus with which to buy
Address of the International Working Men's Association to Abraham Lincoln
Address_of_the_International_Working_Men's_Association_to_Abraham_Lincoln
Person involved in activities for profit
value. It is generally thought to embrace risks beyond what is normally encountered in starting a business. Its motivation can include other values than
Businessperson
Marxian economy centered around use value, planning and contribution-based distribution
only takes as much as one has contributed. There is no extraction of surplus value and thus no exploitation in such a system. The higher stage of communism
Socialist_mode_of_production
Social class
Productive forces Relations of production Commodity (fetishism) Surplus product Surplus value Exploitation Wage labour Capital (accumulation) Critique of
Petite_bourgeoisie
School of Marxism aligned with humanist philosophies
sole source of value. While secondary forms of capital (e.g., merchants, bankers, landowners) participate in acquiring surplus value, they do not contribute
Marxist_humanism
Argentine revolutionary (1928–1967)
result of the commodification of labor and the operation of the law of value. For Guevara, the challenge was to replace the individuals' alienation from
Che_Guevara
Pejorative term for reinterpretation of Marxism
Productive forces Relations of production Commodity (fetishism) Surplus product Surplus value Exploitation Wage labour Capital (accumulation) Critique of
Revisionism_(Marxism)
Something bought and sold as a result of labor value, in Marxist theory
have episodic or permanent surpluses to their own requirements, and they aim to obtain different goods with an equal value in return. Marx refers to this
Commodity_(Marxism)
produces a surplus product about which it has no say." Marx himself never referred to his own theory of value as a "labour theory of value" even once
Criticism of value-form theory
Criticism_of_value-form_theory
Marxist term to describe a subsection of the underclass
prostitutes" and other lumpenproletariat formed an element within the "surplus population" in a capitalist system. The Social Democratic Party of Germany
Lumpenproletariat
Impacts on German socialist philosopher
develop the concept of surplus value, which distinguished his works from that of Smith and Ricardo. Workers create enough value during a short period of
Influences_on_Karl_Marx
export surplus can be calculated by subtracting the value of its oil imports from the value of its oil exports. Countries with oil export surpluses tend
List of countries by oil exports
List_of_countries_by_oil_exports
Used as a measure of shareholder value in the financial analysis of shares
economic value added is one way of measuring the increase in shareholder wealth achieved by a company. Surplus value, in Marxian economics "Value Added"
Added_value
Philosophy of science and nature
to economics, conceptualizing "use value" as the Particular, individual character of a commodity and "exchange value" as its Universal, social character
Dialectical_materialism
Ownership or control of an economy by a government
economy and essentially acts as a single huge corporation, extracting surplus value from the workforce in order to invest it in further production. This
State_capitalism
socialist-style economy. For Marx, the cycle of the extraction of the surplus value by the owners of capital or the bourgeoisie becomes the basis of class
Perspectives on capitalism by school of thought
Perspectives_on_capitalism_by_school_of_thought
Concept in Marxist analysis
exchanged. Through commodity fetishism, social phenomena such as market value, wages and rent are reified (attributed to things, i.e. goods, labour, land)
Commodity_fetishism
Economic theorem regarding rate of profit
the value of constant capital plus variable capital (c + v) gives profits s. Now the value composition of capital c/v, the rate of surplus value s/v,
Okishio's_theorem
Concepts in Marxist theory
Productive forces Relations of production Commodity (fetishism) Surplus product Surplus value Exploitation Wage labour Capital (accumulation) Critique of
Base_and_superstructure
Marxist theory of the origin of capitalism
argued that the state sector (socialist industry) would have to extract a surplus from the peasant sector (private commodity production) to fund its growth
Primitive_accumulation
Overview of and topical guide to Marxism
capital Variable capital Surplus value Surplus labour Surplus product Law of value Commodity Value form Use value Exchange value Social class / Marxian
Outline_of_Marxism
Cause of the crisis of capital accumulation and labor devaluation in a capitalist economy
requires the accumulation of capital through the continual reinvestment of surplus value. Accumulation can reach a point where the reinvestment of capital no
Overaccumulation
workers. This system differs from earlier forms of trade by focusing on surplus value from production rather than simply "buying cheap and selling dear."
History_of_capitalism
1913 book by Rosa Luxemburg
non-capitalist markets and societies to solve the problem of realizing surplus value and to facilitate its expansion. She posited that this necessity for
The_Accumulation_of_Capital
Mode of production theory
despotic ruling clique, residing in central cities and directly expropriating surplus from largely autarkic and generally undifferentiated village communities"
Asiatic_mode_of_production
Treatment of social attributes as real, in Marxist theory
the Proletariat." Rubin, I. I. 1972 [1928]. "Essays on Marx’s Theory of Value." Schaff, Adam. 1980. Alienation as a Social Phenomenon. Tadić, Ljubomir
Reification_(Marxism)
Italian communist politician and Marxist theoretician (1889–1970)
socialism in which the law of value no longer directs economic activity. Monetary relations in the form of exchange-value, profit, interest, and wage labour
Amadeo_Bordiga
1852 essay by Karl Marx on the 1851 French coup d'état
Productive forces Relations of production Commodity (fetishism) Surplus product Surplus value Exploitation Wage labour Capital (accumulation) Critique of
The Eighteenth Brumaire of Louis Bonaparte
The_Eighteenth_Brumaire_of_Louis_Bonaparte
Arguments against the economic system of capitalism
as free persons, there can be no production of surplus value; without the production of surplus-value there can be no capitalist production, and hence
Criticism_of_capitalism
Price levels at which goods and services must be sold
fully depends on market trade. If there are no market sales, then value and surplus value cannot be realized as private profit. For the purpose of the analysis
Prices_of_production
Soviet revolutionary and politician (1888–1938)
Productive forces Relations of production Commodity (fetishism) Surplus product Surplus value Exploitation Wage labour Capital (accumulation) Critique of
Nikolai_Bukharin
Marxism as expounded by Marx and Engels
the fruits of production belong to the employers, who expropriate the surplus created by others and in so doing generate alienated labour. Alienation
Classical_Marxism
Social theory developed by Karl Marx
of the world of men" proceeding in direct proportion to "the increasing value of the world of things". The objectification of labour appears as a loss
Marx's_theory_of_alienation
Belgian born Polish Marxist theorist (1924–1994)
Jewish refugee from the Nazis and distinguished academic reflects the values and decency we should all expect in our political debate. Ed Miliband's
Ralph_Miliband
Polish-German Marxist revolutionary (1871–1919)
thesis was that capitalism, as a closed system, could not realise the surplus value it generated and was therefore dependent on a constant expansion into
Rosa_Luxemburg
Marxist theory of cultural dominance
the culture of that society—the beliefs and explanations, perceptions, values, and mores—so that the worldview of the ruling class becomes the accepted
Cultural_hegemony
Marxist term examining the exploitation of workers
process under capitalism whereby the ruling classes create particular norms, values, and stigmas, amounting to a culture in which their continued dominance
False_consciousness
workers know that they are being exploited in order to produce surplus value, the value produced by the worker that the capitalists appropriate; however
Marxist_literary_criticism
Irish republican, trade unionist and revolutionary (1868–1916)
always destroys the value of a rise in wages" sounds "revolutionary", but maintained that it was not Marxist and not true. The value of labour is not fixed
James_Connolly
English cultural theorist (1968–2017)
Critique of Political Economy Grundrisse Das Kapital Theories of Surplus Value Value, Price and Profit People Karl Marx Friedrich Engels Roman Rosdolsky
Mark_Fisher
Scottish computer scientist and economist
Productive forces Relations of production Commodity (fetishism) Surplus product Surplus value Exploitation Wage labour Capital (accumulation) Critique of
Paul_Cockshott
SURPLUS VALUE
SURPLUS VALUE
Boy/Male
Indian
High, Excellent, Surplus, Abundance
Boy/Male
Muslim
Excess, Surplus
Girl/Female
Indian
Surplus, Overabundance
Girl/Female
Arabic, Muslim
Prayer; Surplus; Overabundance
Boy/Male
Hindu, Indian
Place Name
Girl/Female
Arabic
Excess; Surplus
Boy/Male
Muslim
High, Excellent, Surplus, Abundance
Boy/Male
Arabic, Muslim
Possessing Divine Surplus
Boy/Male
Arabic, Muslim
Excess; Surplus
Boy/Male
Arabic, Muslim
Possessing Divine Surplus
Surname or Lastname
English
English : probably a variant spelling of Searles.
Boy/Male
Hindu, Indian, Marathi
Abundant; Plentiful; Surplus
Girl/Female
Arabic, Muslim
Excess; Surplus
Boy/Male
Arabic, Muslim
Surplus Bestowed by Allah
Boy/Male
Muslim
Surplus bestowed by Allah
Girl/Female
Arabic, Muslim
Addition; Surplus; Increase; Growth
Girl/Female
Muslim
Surplus, Overabundance
Boy/Male
Arabic, Muslim
Increase; Addition; Surplus; Plenty
Girl/Female
Muslim
Excess, Surplus
Girl/Female
Arabic, Muslim
Surplus
SURPLUS VALUE
SURPLUS VALUE
Girl/Female
English American
name Letitia. Joyful;happy.
Boy/Male
French
Blond ruler.
Girl/Female
American, Hindu, Indian
God is Gracious; Stone; Goddess
Surname or Lastname
English (mainly northeastern)
English (mainly northeastern) : habitational name from places so called in County Durham and Northumberland. The former is named with an unattested Old English scēot ‘steep slope’ + Old English tūn ‘enclosure’, ‘settlement’, the latter with Old English scota, genitive plural of scot ‘Scot’ + dūn ‘hill’. The surname may also have been a topographic name for someone who lived by an enclosure on a slope.
Girl/Female
Hindu, Indian, Kannada, Malayalam, Marathi, Telugu
Lakshmi; A Religious Ceremony
Girl/Female
Indian
Golden creeper, Golden wine
Boy/Male
Sikh
Lively
Boy/Male
Hindu, Indian
Man of Pure Soul; Humanity; Conscious; Intelligent
Boy/Male
Teutonic American French German English
Famous.
Boy/Male
Hindu
Pleasing, Charming
SURPLUS VALUE
SURPLUS VALUE
SURPLUS VALUE
SURPLUS VALUE
SURPLUS VALUE
imp. & p. p.
of Surpass
n.
An outlet for the escape of surplus liquid.
n.
Surplus.
pl.
of Purple
n.
Excessive measure; the excess beyond true or proper measure; surplus.
n.
Increase; addition; surplus.
n.
A sum or quantity over; surplus.
n.
The act of surcharging; also, surcharge, surplus.
p. pr. & vb. n.
of Surpass
a.
Being or constituting a surplus; more than sufficient; as, surplus revenues; surplus population; surplus words.
v. t.
The art of carrying off surplus water, as from land.
n.
That which remains after a supply, or beyond a quantity proposed; surplus.
n.
Specifically, an amount in the public treasury at any time greater than is required for the ordinary purposes of the government.
n.
An excess; a surplus.
v. t.
To go beyond in anything good or bad; to exceed; to excel.
n.
A pipe used for carrying off surplus water.
n.
A syrphus fly.
v. t.
To surfel.
n.
That which remains when use or need is satisfied, or when a limit is reached; excess; overplus.