Capital accumulationCapital accumulation is the dynamic that motivates the pursuit of profit, involving the investment of money or any financial asset with the goal of increasing the initial monetary value of said asset as a financial return whether in the form of profit, rent, interest, royalties or capital gains. The aim of capital accumulation is to create new fixed and working capitals, broaden and modernize the existing ones, grow the material basis of social-cultural activities, as well as constituting the necessary resource for reserve and insurance.
Vladimir Lenin'Vladimir Ilyich Ulyanov ( 1870 – 21 January 1924), better known as Vladimir Lenin', was a Russian lawyer, revolutionary, politician and political theorist who served as the first and founding head of government of Soviet Russia from 1917 to 1924 and of the Soviet Union from 1922 to 1924. Under his administration, Russia, and later the Soviet Union, became a one-party socialist state governed by the Communist Party over the course of the Russian Civil War. Ideologically a Marxist, his development of the ideology is known as Leninism.
Relations of productionRelations of production (Produktionsverhältnisse) is a concept frequently used by Karl Marx and Friedrich Engels in their theory of historical materialism and in Das Kapital. It is first explicitly used in Marx's published book The Poverty of Philosophy, although Marx and Engels had already defined the term in The German Ideology. Some social relations are voluntary or freely chosen (a person chooses to associate with another person or a group). But other social relations are involuntary, i.e.
Private propertyPrivate property is a legal designation for the ownership of property by non-governmental legal entities. Private property is distinguishable from public property, which is owned by a state entity, and from collective or cooperative property, which is owned by one or more non-governmental entities. Private property is foundational to capitalism, an economic system based on the private ownership of the means of production and their operation for profit.
Wage slaveryIn the capitalist mode of production, wage slavery (or starvation wages) refers to the exploitation of labor by keeping wages low or stagnant in order for a business to maximize its surplus value. Wage slavery can be loosely defined as a person's dependence on wages (or a salary) for their livelihood, especially when wages are low, treatment and conditions are poor, and there are few chances of upward mobility.
Critique of political economyCritique of political economy or simply the first critique of economy is a form of social critique that rejects the conventional ways of distributing resources. The critique also rejects what its advocates believe are unrealistic axioms, faulty historical assumptions, and taking conventional economic mechanisms as a given or as transhistorical (true for all human societies for all time). The critique asserts the conventional economy is merely one of many types of historically specific ways to distribute resources, which emerged along with modernity (post-Renaissance Western society).
From each according to his ability, to each according to his needs"From each according to his ability, to each according to his needs" (Jeder nach seinen Fähigkeiten, jedem nach seinen Bedürfnissen) is a slogan popularised by Karl Marx in his 1875 Critique of the Gotha Programme. The principle refers to free access to and distribution of goods, capital and services. In the Marxist view, such an arrangement will be made possible by the abundance of goods and services that a developed communist system will be capable to produce; the idea is that, with the full development of socialism and unfettered productive forces, there will be enough to satisfy everyone's needs.
Abstract labour and concrete labourAbstract labour and concrete labour refer to a distinction made by Karl Marx in his critique of political economy. It refers to the difference between human labour in general as economically valuable worktime versus human labour as a particular activity that has a specific useful effect within the (capitalist) mode of production. As economically valuable worktime, human labour is spent to add value to products or assets (thereby conserving their capital value, and/or transferring value from inputs to outputs).
Cultural hegemonyIn Marxist philosophy, cultural hegemony is the dominance of a culturally diverse society by the ruling class who manipulate 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 norm. As the universal dominant ideology, the ruling-class worldview misrepresents the social, political, and economic status quo as natural, inevitable, and perpetual social conditions that benefit every social class, rather than as artificial social constructs that benefit only the ruling class.
False consciousnessIn Marxist theory, false consciousness is a term describing the ways in which material, ideological, and institutional processes are said to mislead members of the proletariat and other class actors within capitalist societies, concealing the exploitation and inequality intrinsic to the social relations between classes. According to Marxists, false consciousness legitimizes the existence of different social classes. False consciousness is consciousness which is incorrect and misaligned from reality.
