Labour powerLabour power (Arbeitskraft; force de travail) is the capacity to do work, a key concept used by Karl Marx in his critique of capitalist political economy. Marx distinguished between the capacity to do work, labour power, and the physical act of working, labour. Labour power exists in any kind of society, but on what terms it is traded or combined with means of production to produce goods and services has historically varied greatly. Under capitalism, according to Marx, the productive powers of labour appear as the creative power of capital.
Labor theory of valueThe labor theory of value (LTV) is a theory of value that argues that the economic value of a good or service is determined by the total amount of "socially necessary labor" required to produce it. The LTV is usually associated with Marxian economics, although it originally appeared in the theories of earlier classical economists such as Adam Smith and David Ricardo, and later in anarchist economics. Smith saw the price of a commodity in terms of the labor that the purchaser must expend to buy it, which embodies the concept of how much labor a commodity, a tool for example, can save the purchaser.
Rate of exploitationIn Marxian economics, the rate of exploitation is the ratio of the total amount of unpaid labor done (surplus-value) to the total amount of wages paid (the value of labour power). The rate of exploitation is often also called the rate of surplus-value. Marx did not regard the rate of surplus value and the rate of exploitation as necessarily identical, insofar as there was a divergence between surplus value realised and surplus value produced.
Forced prostitutionForced prostitution, also known as involuntary prostitution or compulsory prostitution, is prostitution or sexual slavery that takes place as a result of coercion by a third party. The terms "forced prostitution" or "enforced prostitution" appear in international and humanitarian conventions, such as the Rome Statute of the International Criminal Court, but have been inconsistently applied. "Forced prostitution" refers to conditions of control over a person who is coerced by another to engage in sexual activity.
ProletariatThe proletariat (ˌproʊlɪˈtɛəriət; ) is the social class of wage-earners, those members of a society whose only possession of significant economic value is their labour power (their capacity to work). A member of such a class is a proletarian or a . Marxist philosophy regards the proletariat under conditions of capitalism as an exploited class - forced to accept meager wages in return for operating the means of production, which belong to the class of business owners, the bourgeoisie.
Das KapitalCapital: A Critique of Political Economy (Das Kapital. Kritik der politischen Ökonomie), also known as Capital, is a foundational theoretical text in materialist philosophy and critique of political economy written by Karl Marx, published as three volumes in 1867, 1885, and 1894. The culmination of his life's work, the text contains Marx's analysis of capitalism, to which he sought to apply his theory of historical materialism "to lay bare the economic laws of modern society", following from classical political economists such as Adam Smith, Jean-Baptiste Say, David Ricardo and John Stuart Mill.
Ricardian socialismRicardian socialism is a branch of classical economic thought based upon the work of the economist David Ricardo (1772–1823). The term is used to describe economists in the 1820s and 1830s who developed a theory of capitalist exploitation from the theory developed by Ricardo that stated that labor is the source of all wealth and exchange value. This principle extends back to the principles of English philosopher John Locke.
Unequal exchangeUnequal exchange is used primarily in Marxist economics, but also in ecological economics (more specifically also as ecologically unequal exchange), to denote forms of exploitation hidden in or underwriting trade. Unequal exchange is usually calculated by assuming that any trade between a country with a high price level and a country with a low price level, is exploitation.
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.
Surplus productSurplus product (Mehrprodukt) is a concept theorised by Karl Marx in his critique of political economy. Roughly speaking, it is the extra goods produced above the amount needed for a community of workers to survive at its current standard of living. Marx first began to work out his idea of surplus product in his 1844 notes on James Mill's Elements of political economy. Notions of "surplus produce" have been used in economic thought and commerce for a long time (notably by the Physiocrats), but in Das Kapital, Theories of Surplus Value and the Grundrisse Marx gave the concept a central place in his interpretation of economic history.
