About the Book
Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 86. Chapters: Value theory, Labor theory of value, Cultural bias, Nothing, Cost-of-production theory of value, Surplus value, Social network, Asha, Good and evil, Social Choice and Individual Values, Criticisms of the labour theory of value, Use value, Business ecosystem, Value product, Fair value, Value network, Demand chain, Real versus nominal value, Instrumental value, Value chain, Value added, Social exchange theory, Value of Earth, Value system, Universal value, Filipino values, Play value, Virtual Value Chain, Value judgment, Value of information, Mottainai, Deprival value, Economic value added, Fact-value distinction, Value network analysis, Value pluralism, Anthropological theories of value, Everything, Ethonomics, Christian values, Rokeach Value Survey, Store of value, Value migration, Augustinian values, Brute fact, Non-use value, Higher good, Value grid, Cash Surplus Value Added, Value of control, Extrinsic value. Excerpt: Surplus value is a concept used famously by Karl Marx in his critique of political economy. Although Marx did not himself invent the term, he developed the concept. It refers roughly to the new value created by workers in excess of their own labour-cost, a value which is freely appropriated by the capitalist as gross profit, and which is the basis of capital accumulation. "Surplus-value and the rate of surplus-value are... the invisible essence to be investigated, whereas the rate of profit and hence the form of surplus-value as profit are visible surface phenomena" - Karl Marx, Capital Vol. 3, Pelican edition, p. 134 For Marx, the gigantic increase in wealth and population from the 19th century onwards was mainly due to the competitive striving to obtain maximum surplus-value from the employment of labor, resulting in an equally gigantic increase of productivity and capital resources. To the extent...
