Economic anthropology as influenced by Karl Polanyi and practiced by Marshall Sahlins and George Dalton challenged standard neoclassical economics to take account of cultural and social factors, and employed Marxian analysis into anthropological study.

Presently the concept is most often associated with Marxian economics, although it appears as a foundation to earlier classical economic theorists such as Adam Smith and David Ricardo.

Other leftists believe in Marxian economics, which are based on the economic theories of Karl Marx.

Marxian economics does not exclusively rely upon Marx, it draws from a range of Marxist and non-Marxist sources.

Today it is usually used to refer to mainstream economics, although it has also been used as an umbrella term encompassing a number of other schools of thought, notably excluding institutional economics, various historical schools of economics, and Marxian economics, in addition to various other heterodox approaches to economics.

* Marxian economics

The original conception of socialism was an economic system whereby production was organised in a way to directly produce goods and services for their utility ( or use-value in classical and Marxian economics ): the direct allocation of resources in terms of physical units as opposed to financial calculation and the economic laws of capitalism ( see: Law of value ), often entailing the end of capitalistic economic categories such as rent, interest, profit and money.

The writings of Karl Marx provided the basis for the development of Marxist political theory and Marxian economics.

Today, political economy, where it is not used as a synonym for economics, may refer to very different things, including Marxian analysis, applied public-choice approaches emanating from the Chicago school and the Virginia school, or simply the advice given by economists to the government or public on general economic policy or on specific proposals.

# REDIRECT Marxian economics

In Marxian economics, the term surplus may also refer to surplus value, surplus product and surplus labour.

( A more general term is " political economy ", an earlier name for " economics " that evokes its practical and theoretical origins but should not be mistaken for the Marxian use of the same term.

In Marxian economics, exploitation refers to the subjection of producers ( the proletariat ) to work for passive owners ( bourgeoisie ) for less compensation than is equivalent to the actual amount of work done.

In Marxian economics and socialist politics, there is distinction between " private property " and " personal property ".

# REDIRECT Marxian economics

His experience working as a federal government intern during the summer of 1960 caused him to reject Marxian economics in favor of free market economic theory.

Heterodox economics refers to a variety of separate unorthodox approaches or schools such as institutional, post-Keynesian, socialist, Marxian, feminist, Austrian, ecological, and social economics among others.

* Organic Composition of Capital, a theory within Marxian economics

In Marxian economics and some industries, the term is used in the sense of raw material that is ' subject of labor ', in other words, something that will be worked on by labor or that has already undergone some alteration by labor.

The Marxian school goes further, seeing labor ( in general, including entrepreneurship ) as the primary factor of production, since it is required to produce capital goods and to utilize the gifts of nature.

Because these regimes influence and are influenced by the organization of both social and economic capital, the analysis of dimensions lacking a standard economic value ( e. g., the political economy of language, of gender, of religion ) often draw on the concepts used in Marxian critiques of capital.

In Marxian theory, variable capital refers to a capitalist's investment in labor-power, seen as the only source of surplus-value.

Usually this type of research involves reworking the components of the official measures of gross output and capital outlays to approximate Marxian categories, in order to estimate empirically the trends in the ratios thought important in the Marxian explanation of capital accumulation and economic growth: the rate of surplus-value, the organic composition of capital, the rate of profit, the rate of increase in the capital stock, and the rate of reinvestment of realised surplus-value in production.

The concept, interpreted as rising technical composition of capital, is also used by some Marxian authors.

The organic composition of capital ( OCC ) is a concept created by Karl Marx in his critique of political economy and used in Marxian economics as a theoretical alternative to neo-classical concepts of factors of production, production functions, capital productivity and capital-output ratios.

In economics, accounting and Marxian economics, capital accumulation is often equated with investment of profit income or savings, especially in real capital goods.

In Marxian economics, the rate of accumulation is defined as ( 1 ) the value of the real net increase in the stock of capital in an accounting period, ( 2 ) the proportion of realised surplus-value or profit-income which is reinvested, rather than consumed.

Constant capital ( c ), is a concept created by Karl Marx and used in Marxian political economy.

The main thrust of the book ( which was obscured by blanketing it with lengthy and unassailable Marxian analysis to protect himself ), was that wage differentials in the USA could be explained by viewing the extra income over a base labouring job, as being a rent received for the intellectual capital that the worker possessed.

The further conclusion was that all those receiving " rent " for their intellectual capital would innately, in Marxian terms, have " Petit Bourgeois " political and sociological allegiances.

Because the central Marxian notion of crisis via " over-accumulation " is assumed to be a constant factor in the process of capital accumulation, the process of " accumulation by dispossession " acts as a possible safety valve that may temporarily ease the crisis.

In Marxian economics, however, these flows would be regarded either as a faux frais of production, a circulating constant capital outlay, or an element of gross surplus value.

From this perspective, much literary critical theory, since it is focused on interpretation and explanation rather than on social transformation, would be regarded as positivistic or traditional rather than critical theory in the Kantian or Marxian sense.

Perhaps the most influential recent defense of this passage, and of relevant Marxian and Marxist assertions is G. A.

The demonstration of the relation between commodities ' unit values and their respective prices is known in Marxian terminology as the transformation problem or the transformation of values into prices of production.

Marxian socialism is philosophically materialist as well as having at its centre a commitment to historical materialism.

In addition, many Marxian economists would argue that the system of individual property rights is a fundamental problem in itself, and that resources should be allocated in another way entirely.

" He was also wary of integration of Marxian ideals into Western governments, prefacing his essay Freedom is a Two-Edged Sword with the warning: " The golden voice of social security, of socialized " this " and socialized " that ," with its attendant confiscatory taxation and intrusion on individual liberty, is everywhere raised and everywhere heeded.

A scene in the film Go West, in which Chico attempts to placate an Indian chief of whom Groucho has run afoul, has a line that plays a bit on Chico's lack of Italian nationality, but is more or less proper Marxian wordplay:

This is very roughly equivalent to the profits / wages ratio, though there is debate in Marxian economics about what exact profit and wage measures should be used.

The Marxian mathematicians Emmanuel Farjoun and Moshé Machover argue that " even if the rate of surplus value has changed by 10-20 % over a hundred years, the real problem explain is why it has changed so little " ( quoted from The Laws of Chaos ; A Probabilistic Approach to Political Economy ( 1983 ), p. 192 ).

Ironically, considering the attachment of many classical economists to the free market, the largest school of economic thought that still adheres to classical form is the Marxian school.

Since that time it is most often associated with Marxian economics ; while among modern mainstream economists it is considered to be superseded by the marginal utility approach.