necessary labour time
1Socially necessary labour time — in Marx s critique of political economy is what regulates the exchange value of commodities in trade and consequently guides producers in their attempt to economise on labour. Unlike individual labour hours in the classical labour theory of value …
2labour theory of value — The idea that labour is the ultimate source of all wealth a commonplace among the early political economists . Adam Smith , for example, argued that, in a market society in which workers owned their own means of production, the prices of goods… …
3Labour power — (in German: Arbeitskraft , or labour force) is a crucial concept used by Karl Marx in his critique of capitalist political economy. He regarded labour power as the most important of the productive forces. Under capitalism, according to Marx, the… …
4labour economics — Study of how workers are allocated among jobs, how their rates of pay are determined, and how their efficiency is affected by various factors. The labour force of a country includes all those who work for gain in any capacity as well as those who …
5Criticisms of the labour theory of value — often arise from an economic criticism of Marxism. Contents 1 Microeconomic theory 2 Supply and demand 3 Jevons 4 Menger s critique …
6Surplus labour — Part of a series on Marxism …
7Abstract labour and concrete labour — Part of a series on Marxism …
8Labour Unions (Moral Aspects) — Labour Unions (Moral Aspects) † Catholic Encyclopedia ► Labour Unions (Moral Aspects) Since a labour union is a society, its moral aspects are determined by its constitution, its end, its results, and the means employed in pursuit of… …
9Labour economics — seeks to understand the functioning of the market and dynamics for labour. Labour markets function through the interaction of workers and employers. Labour economics looks at the suppliers of labour services (workers), the demanders of labour… …
10Labour and Labour Legislation — • Labour is work done by mind or body either partly or wholly for the purpose of producing utilities Catholic Encyclopedia. Kevin Knight. 2006. Labour and Labour Legislation Labour and Labour Legislation …
