HISTORY OF ECONOMIC THOUGHTS
... preventive check of moral restraint. An admirer of Adam Smith, John Baptiste Say’s Treatise on Political Economy (1803) helped to introduce The Wealth of Nations to his native France. In the course of explaining Smith´s theories and the role of markets in satisfying human wants, the author developed ...
... preventive check of moral restraint. An admirer of Adam Smith, John Baptiste Say’s Treatise on Political Economy (1803) helped to introduce The Wealth of Nations to his native France. In the course of explaining Smith´s theories and the role of markets in satisfying human wants, the author developed ...
Louis Althusser and the Forms of Concealment of Capitalist
... subjection of ‘humankind’ to the ‘object world’ created be ‘human labour’.10 The anthropological approach to fetishism is thus formulated, which we criticised in the case of Lukács as extensive-universalising11 and which appears, with forms barely different, in recent analyses of fetishism that pre ...
... subjection of ‘humankind’ to the ‘object world’ created be ‘human labour’.10 The anthropological approach to fetishism is thus formulated, which we criticised in the case of Lukács as extensive-universalising11 and which appears, with forms barely different, in recent analyses of fetishism that pre ...
Development and Regionalism Karl Polanyi’s Ideas and the Contemporary World System
... 5 The slave trade and the slave plantations were enormously profitable and accounted for one quarter of England’s imports in the 18th century ...
... 5 The slave trade and the slave plantations were enormously profitable and accounted for one quarter of England’s imports in the 18th century ...
Chapter 2: The Market System and Circular Flow Learning
... destruction, the hypothesis that the creation of new products and production methods simultaneously destroys the market power of firms that are wedded to existing products and older ways of doing business. The invisible hand Adam Smith, in his 1776 book The Wealth of Nations, wrote that the firms, b ...
... destruction, the hypothesis that the creation of new products and production methods simultaneously destroys the market power of firms that are wedded to existing products and older ways of doing business. The invisible hand Adam Smith, in his 1776 book The Wealth of Nations, wrote that the firms, b ...
The `Marginal Revolution` in Economics against the Labour Theory
... “So far therefore as labour is a creator of use-value, is useful labour, it is a necessary condition, independent of all forms of society, for the existence of the human race; it is an eternal nature imposed necessity, without which there can be no material exchanges between man and Nature, and the ...
... “So far therefore as labour is a creator of use-value, is useful labour, it is a necessary condition, independent of all forms of society, for the existence of the human race; it is an eternal nature imposed necessity, without which there can be no material exchanges between man and Nature, and the ...
CHAPTER 12 OF SMALL PLACE LARGE ISSUES
... After colonisation of the interior Nigeria, great changes occurred: - The introduction of general purpose money, - The extension of the trade network, - The abandon of the subsistence economy, - The beginning of capitalist activities, - The economy lost his moral character, This new monetary economy ...
... After colonisation of the interior Nigeria, great changes occurred: - The introduction of general purpose money, - The extension of the trade network, - The abandon of the subsistence economy, - The beginning of capitalist activities, - The economy lost his moral character, This new monetary economy ...
Chapter 1 - Foothill College
... refers to state and local laws, the Constitution, rules designed and enforced by Regulatory Agencies (there are a number of powerful Regulators at Federal and State levels), and the spending decisions of the government. 1. For example, if the Congress doubles the budget of the Securities Exchange Co ...
... refers to state and local laws, the Constitution, rules designed and enforced by Regulatory Agencies (there are a number of powerful Regulators at Federal and State levels), and the spending decisions of the government. 1. For example, if the Congress doubles the budget of the Securities Exchange Co ...
Tugan-Baranovsky, Mikhail Ivanovich (1865–1919)
... Of mixed Ukrainian-Tartar origin, Tugan-Baranovsky was born in the Kharkov province, and graduated from Kharkov university in 1888. His Magister dissertation for Moscow University was on industrial cycles in Great Britain, and he spent six months of his research time in London in 1892. There could s ...
... Of mixed Ukrainian-Tartar origin, Tugan-Baranovsky was born in the Kharkov province, and graduated from Kharkov university in 1888. His Magister dissertation for Moscow University was on industrial cycles in Great Britain, and he spent six months of his research time in London in 1892. There could s ...
John Milios
... Grundrisse to the French edition of volume one of Capital. Its theoretical significance derives from Bidet’s efforts in attacking some of the ‘open questions’ of Marx’s oeuvre, which still divide Marxist theoreticians into opposing theoretical camps. The first of these questions concerns the ‘source ...
... Grundrisse to the French edition of volume one of Capital. Its theoretical significance derives from Bidet’s efforts in attacking some of the ‘open questions’ of Marx’s oeuvre, which still divide Marxist theoreticians into opposing theoretical camps. The first of these questions concerns the ‘source ...
Marxist economics MARXISM IS COMPLICATED by the fact that
... no longer being hungry, while its exchange value might be found in the quantity of gold (whose true value also lies in the labor which extracted it) which it could be sold for. However, capitalists do not pay workers the full value of the commodities they produce. The gap between the value a worker ...
... no longer being hungry, while its exchange value might be found in the quantity of gold (whose true value also lies in the labor which extracted it) which it could be sold for. However, capitalists do not pay workers the full value of the commodities they produce. The gap between the value a worker ...
Commodity fetishism
In Karl Marx's critique of political economy , commodity fetishism is the perception of the social relationships involved in production, not as relationships among people, but as economic relationships among the money and commodities exchanged in market trade. As such, commodity fetishism transforms the subjective, abstract aspects of economic value into objective, real things that people believe have intrinsic value.The theory of commodity fetishism is presented in the first chapter of Capital: Critique of Political Economy (1867), at the conclusion of the analysis of the value-form of commodities, to explain that the social organization of labour is mediated through market exchange, the buying and the selling of commodities (goods and services). Hence, in a capitalist society, social relations between people—who makes what, who works for whom, the production-time for a commodity, et cetera—are perceived as economic relations among objects, that is, how valuable a given commodity is when compared to another commodity. Therefore, the market exchange of commodities masks (obscures) the true economic character of the human relations of production, between the worker and the capitalist.Karl Marx explained the philosophic concepts underlying commodity fetishism thus: