Labor theory of value

Labor theory of value is the foundation of classical political economy. This theory has consistently evolved W. Petty, L. Smith, David Ricardo, and their numerous followers and popularizers. Logically harmonious concept labor theory of value was created by Karl Marx. According to the theory o ...

The essence of the product and its properties

In terms of commodity production of the product of labor acquires new specific properties that turn it into a commodity. Product - is the product of labor (the thing or service), a man-not for personal use, and to meet the needs of society and its members, and by entering the intake of sale. ...

National models of economic systems

For each system is characterized by its national model of economic organization, as countries differ peculiar stories, the level of economic development, social and national conditions. The study of these models is practical when choosing a model of economic development of the state. The mode ...

Types of economic systems

To better understand how there was a modern economy, as mankind has learned to find answers to the main questions it is necessary to analyze the thousand-year history of the development of economic systems of civilization. Depending on the resolution of the major economic problems and the typ ...

Types of commodity production

In the development of commodity production can be divided into two stages: a simple and capitalist commodity production. Typical of the pre-capitalist formations was a simple commodity production (sometimes called underdeveloped commodity production). For a simple commodity production is char ...

Subsistence farming and the production of commodities

An important place in economic theory given to the analysis of forms of organization of production. In general terms, under the form of production refers to the type of organization of economic activities of the people providing the actual functioning of the economy. In other words, the form of p ...