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  1. Hace 1 día · 1 In Marx’s theory, there are three kinds of aggregate variables, capital (C), variable capital or labour power (V), and surplus value S. Marx defines the rate of profit in value terms as S/ (C + V). To obtain the rate of profit in money terms, however, one must give monetary values to C, V, and S.

  2. Hace 1 día · Although not exactly entranced by the labor theory of value, Robinson's 1942 Essay on Marxian Economics was among the first studies to take Karl Marx seriously as an economist. Austin Robinson A close associate of Keynes, Robinson served as assistant editor during Keynes' period as editor of the Economic Journal ; following Keynes' retirement in 1944, Robinson took over the joint editorship ...

    • Keynes and Classical Economics
  3. Hace 4 días · Explaining how Marxian socialism differs from capitalism, Marxist economist Richard Wolff says that “Specifically, in a socialist economy, workers—who produce the surplus—themselves appropriate and distribute surplus… The producers and appropriators of the surplus are then identical: the same group, collective, or community of persons” 14

  4. Hace 4 días · Karl Marx 's three volume Capital: A Critique of Political Economy is widely regarded as one of the greatest written critiques of capitalism. Criticism of capitalism is a critique of political economy that involves the rejection of, or dissatisfaction with the economic system of capitalism and its outcomes.

  5. Hace 4 días · It wasn’t until 1890, when Alfred Marshall produced his monumental Principles of Economics, that the field of economics veered off on its own. In the 1700s, the field was known as moral philosophy. Adam Smith, the Scotsman who wrote The Wealth of Nations in 1776 and is considered the father of economics (especially by conservatives), never even called himself a political economist.

  6. Hace 2 días · e. Marxism–Leninism is a communist ideology that became the largest faction of the communist movement in the world in the years following the October Revolution. It was the predominant ideology of most communist governments throughout the 20th century. [1] It was developed by Joseph Stalin and drew on elements of Bolshevism, orthodox Marxism ...