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.

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 ".

In Marxian economics, capital is used to buy something only in order to sell it again to realize a financial profit, and for Marx capital only exists within the process of economic exchange — it is wealth that grows out of the process of circulation itself and forms the basis of the economic system of capitalism.

# 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.

Marxian economics suggests that control of such means of production is always and necessarily part of the rise to hegemony of a state on any scale-and notes that the British Admiralty did, and U. S. Department of Defense, U. S. State Department, does, especially via allies and allied agencies, provide vast and guaranteed markets for military and humanitarian production.

Once these concepts and their implications are understood it will become obvious why Say's law does not hold in the Marxian framework.

The postulate of the law of value does however lead to the Marxian historical prediction that global prices of production will be formed by world competition among producers in the long term.

In contrast, some members of the Marxian school argue that even if the means of production " earned " a return based on their marginal product, that does not imply that their owners ( i. e., the capitalists ) created the marginal product and should be rewarded.

Blatchford stated in the Fortnightly Review in 1907 that " Dr Cozier is mistaken if he thinks I took my Socialism from Marx, or that it depends upon the Marxian theory of value.

Marxian economists do not lean entirely upon the works of Marx and other widely-known Marxists ; they draw from a range of Marxist and non-Marxist sources.

Marxian economics has been built upon by many others, beginning almost at the moment of Marx's death.

You tell us that although Marxian communism is stupidly, blindly wrong and mischievous, you have an admiration and friendship for the men who have imposed it upon the Russian people to the infinite misery and impoverishment of the land.

The model of shame that Lynd advocated in the book is loosely Marxian, insisting upon " the importance of historical context and of transcultural analysis within single social formations " ( particularly Western ).

Some Marxian economists argue that Marx thought the possibility of measuring surplus value depends on the publicly available data.

Some classical ideas are represented in various schools of heterodox economics, notably Marxian economics – Marx being a contemporary of the classical economists and their immediate successors – and Austrian economics, which split from neoclassical economics in the late 19th century.

At the same time the Nazis opposed Marxian socialism because its founder, Karl Marx was of Jewish descent, and views in contempt both communism and other variants of socialism linked to Marxism or Jewish figures.

Marxian economics refers to economic theories on the functioning of capitalism based on the works of Karl Marx.

Critics who have alleged that Marx has been proved internally inconsistent include former and current Marxian and / or Sraffian economists, such as Paul Sweezy, Nobuo Okishio, Ian Steedman, John Roemer, Gary Mongiovi, and David Laibman, who propose that the field be grounded in their correct versions of Marxian economics instead of in Marx's critique of political economy in the original form in which he presented and developed it in Capital.

Sombart, at that time, was an important Marxian, someone who used and interpreted Karl Marx — to the point that Friedrich Engels called him the only German professor who understood Das Kapital.

Like Marx, many or most advocates of Marxian political economy reject underconsumptionist stagnation theories.

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.

* Ian Steedman, " Marx on Ricardo ", in: Ian Bradley and Michael Howard ( eds ), Classical and Marxian Political Economy-Essays in honour of Ronald L. Meek ".

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

The value product ( VP ) is an economic concept formulated by Karl Marx in his critique of political economy during the 1860s, and used in Marxian social accounting theory for capitalist economies.

Subsequent Marxian scholars have argued the critique of political economy should continue, with regard to the new economic concepts and theories, rather than stop at the point where the ink dried on the last sheet of paper that Marx wrote on.

While Marx used the concept of the law of value in his works Grundrisse, A Contribution to the Critique of Political Economy, Theories of Surplus Value and Das Kapital, he did not explicitly formalise its full meaning in a mathematical sense, and therefore how it should be exactly defined remains to some extent a controversial topic in Marxian economics.

Marx regarded the distinction between abstract and concrete labour as being among the most important innovations he contributed to the theory of economic value, and subsequently Marxian scholars have debated a great deal about its theoretical significance.