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.

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

They argue that Marxian socialism in particular arose from the minds of the working class due to the class contradictions of the capitalist mode of production.

A socialist society, Marxian economists argue, also has a surplus product from an economic point of view, but its creation and distribution would begin to operate with different rules.

In the real world, Marxian economists like Samir Amin argue, unequal exchange occurs all the time, implying transfers of value from one place to another, through the trading process.

Effectively, Marxian economists argue, this means that the labour of workers in wealthy countries is valued higher than the labour of workers in poorer countries.

Nowadays, Marxian scholars argue, comparative advantage survives mainly as an ideology justifying the benefits of international trade, not as an accurate description of that trade ( some economists however draw subtle distinctions between comparative " advantages " and comparative " costs ", while others switch to the concept of competitive advantage ).

If that is so, then, the critics argue, there is no sense in which the Marxian product-values can explain market prices for products as the determinants of those prices.

But the validity of Marx's value theory or his exploitation theory may not depend on the validity of his specific transformation procedures, and Marxian scholars indeed often argue that critics mistake what he intended by them.

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.

Critics of the Marxian interpretation argue that the problem of undesirable forms of opportunism appears in any large population subject to a complex division of labour, or any industrialized society ( including a socialist one ), since – whatever the rhetorics – it is in practice unable to maintain a shared social ethic, and because it creates plenty scope for competitors to take advantage of each other in an unprincipled way.

This group denied that the Labour Party ( or even any of the parties before it, except for the Marxian Association ) represented genuine socialism.

In this context " crisis " refers to what is called, even currently and outside Marxian theory in many European countries a " conjuncture " or especially sharp bust cycle of the regular boom and bust pattern of what Marxists term " chaotic " capitalist development, which, if no countervailing action is taken, develops into a recession or depression-see, for example, 1994 economic crisis in Mexico, Argentine economic crisis ( 1999-2002 ), South American economic crisis of 2002, Economic crisis of Cameroon, Financial crisis of 2007 – 2012, Great Depression, etc.

In a classic Marxian twist, Harpo was paid a weekly salary for not appearing on the show, even though his mute character would have little to do in a radio program anyway.

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.

But if it is paid from current gross revenues of producing enterprises, then it should be included in the Marxian value product.

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.

Compare to the Marxian tendency of the rate of profit to fall, which has a similar belief in stagnation as the natural ( stable ) state, but which is otherwise distinct and in critical opposition to underconsumption theory.

In Marxian political economy, the rate of profit ( r ) would be measured as

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.

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While the prices of different types of means of production are prices, the rate of profit can be seen in Marxian terms, as reflecting the social and economic power that owning the means of production gives this minority to exploit the majority of workers and to receive profit.

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

* Economic surplus in surplus economics or surplus product in Marxian economics

Thus, in a free-market capitalist economy, both savings and the investment income ( Marxian surplus value ) are disproportionally accumulated in hands of wealthiest individuals.

Nowadays the concept is mainly used in Marxian economics, surplus economics, political anthropology, cultural anthropology, economic anthropology and archaeology as well as sociology and other social sciences.

For most of human prehistory, Marxian writers like Ernest Mandel and V. Gordon Childe argued, there existed no economic surplus product of any kind at all, except very small or incidental surpluses.

Marxian theory suggests decadence involves a clear waste of a large part of the surplus product from any balanced or nuanced human point of view, and it typically goes together with a growing indifference to the wellbeing and fate of other human beings ; to survive, people are forced to shut out from their consciousness those horrors which are seemingly beyond their ability to do anything about anymore.

According to Marxian economics, surplus labour is usually " unpaid labour ".

Marxian economics regards surplus labour as the ultimate source of capitalist profits.

The Analytical Marxist John Roemer challenges what he calls the " fundamental Marxian theorem " ( after Michio Morishima ) that the existence of surplus labour is the necessary and sufficient condition for profits.

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.

Business rents, excluded as intermediate expenditures from GDP, therefore are included in the Marxian value product as a component of surplus value.

In some interpretations of the Marxian transformation problem, total "( production ) prices " for output must equal total " values " by definition, and total profits must by definition equal total surplus value.

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.

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.

Nowadays the volume of world trade grows significantly faster than GDP, suggesting to Marxian economists such as Samir Amin that surplus-value realised from commercial trade ( representing to a large extent a transfer of value by intermediaries between producers and consumers ) grows faster than surplus-value realised directly from production.

Where stands for the ( unit ) Marxian value of beavers and deer.

However, from the definition of Marxian value as total labour embodied it must also be true that:

For the Marxian critique, which is more fundamental, one must start at Marx's distinction from the outset of use value and exchange value, use value being the use somebody has for an object, and exchange value being what an item is traded for on a market.

The Marxian value theory and the Perron-Frobenius theorem on the positive eigenvector of a positive matrix are fundamental to mathematical treatments of Marxist economics.

" Marxian value analysis ," The New Palgrave: A Dictionary of Economics, v. 3, pp. 383 – 87.

One debate in Marxian economics concerns the question of whether the product-values formed and traded include both direct and indirect labour, or whether these product-values refer only to current average production costs ( or the value of current average replacement costs ).

Within Marxian economics this is discussed under the labor theory of value.

Despite being an ardent socialist, Lange deplored the Marxian labor theory of value, being very much a believer in the Neoclassical theory of price.

In political economy and especially Marxian economics, exchange value refers to one of four major attributes of a commodity, i. e., an item or service produced for, and sold on the market.

Critics of Marxian value theory object that labor is not the only source of value-added goods.

Other Marxian economists note that, at any time, most of the stock of objects of value in a society has no actual market price, because those objects are not being traded ( i. e. they are withdrawn from the market ); they are either being used in production or consumption activities, or else stored for later use.

Engels argued explicitly that the Marxian law of value also applied also to simple exchange, this law being modified in the capitalist mode of production when all the inputs and outputs of production ( including means of production and labour power ) become tradeable commodities.

In the Marxian interpretation, many of these rents, insofar as they are paid out of the sales of current output of production, constitute part of the new value created and part of the real cost structure of production.

In Marxian economics, the official concept of CFC is also disputed, because it is argued that CFC really should refer to the value transferred by living labor from fixed assets to new output.