Finding:

1. close

   Surplus value

   Surplus value is a concept created by Karl Marx in his critique of political economy, where its ultimate source is unpaid surplus labor performed by the worker for the capitalist, serving as a basis for capital accumulation.
2. close

   Capital, Volume I

   Ricardo does not take the time to discuss the origin of surplus-value and side-stepped the entire issue altogether.
3. close

   Transformation problem

   The total value of each produced good is obtained as the sum of the above three elements: constant capital plus variable capital plus surplus value.
4. close

   Prices of production

   where c = constant capital (the element of conserved value), v = variable capital, and s = surplus value (the two elements of newly created value).
5. close

   Surplus labour

   Labour which is sufficiently productive so that it can perform surplus labour is, in a cash economy, the material foundation for the appropriation of surplus-value from that labour.
6. close

   Surplus product

   Essentially the techniques for estimating the size of the surplus product in a capitalist economy are similar to those for measuring surplus-value.
7. close

   Productivity

   Surplus value to the producer is a result of the real process, and measured proportionally it means productivity.
8. close

   Value product

   Business rents, excluded as intermediate expenditures from GDP, therefore are included in the Marxian value product as a component of surplus value.
9. close

   Labor theory of value

   This was a necessary aspect for the substance of value Marx elaborates upon in Capital and Theories of Surplus Value.
10. close

    The Wright System

    Surplus Transfer Value (Stv) means the value calculated by the Surplus value (Sv) divided by the Candidate’s Total Value of votes (Ctvv) and then multiplied by the Value of vote (Vv) allocated to each ballot paper ((Stv = Sv/Ctvv)*Vv)

Explore the following pages on Powerset:

• Surplus value,
• Capital, Volume I,
• Transformation problem,
• Prices of production,
• Surplus labour,
• Surplus product,
• Productivity,
• Value product,
• Labor theory of value,
• The Wright System