Unspooling value
Price and value
Unspooling value
Price and value
Services
Manufacturing
Agriculture
Least developed countries
Developing countries
Middle income trap
Developed countries
Unspooling value
Price and value
More value added
Unspooling value
Price and value
More price added?
Unspooling value
Price and value
Price
- Supply and demand
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Price setting power (eg. monopolies)
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Tariffs
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Regulations
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Market dynamics
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Studied under economics
Unspooling value
Price and value
Value
- Socially necessary labor time
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Resource allocation at a societal level
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Comes from political economy
Unspooling value
Price and value
Value related to price
Value != price
Unspooling value
Price and value
Economix, Michael Goodwin & Dan E. Burr
Unspooling value
Price and value
Many Houses, Many Worlds, by Office of (Un)certainty Research
Unspooling value
Price and value
Value related to price
Value != price
Unspooling value
Profit and surplus value
Unspooling value
Profit and surplus value
Where does profit come from?
- Leadership "value"?
- Shareholders risk?
- Value-added by technology?
Unspooling value
Profit and surplus value
M−C−M′
Unspooling value
Profit and surplus value
M⏟Money−Commodity⏞C−M′⏟Larger amount of money
Unspooling value
Profit and surplus value
M−C{LMP…P…C′(C+c)−M′
Unspooling value
Profit and surplus value
M−C{Labor⏞LMP⏟Means of productionInterruption for production⏞…P…C′(C+c)−M′
Unspooling value
Profit and surplus value
M−C{LMP…P…C′(C+c)−M′
Unspooling value
Profit and surplus value
M−C{LMP…P…−C′(C+c)−M′
C′>CM′>M
Unspooling value
Profit and surplus value
M−C{LMP…P…C′(C+c)−M′
C′>CM′>M
Unspooling value
Profit and surplus value
M−C{L{foodclothinghousingmoral needsMP…P…C′(C+c)−M′
C′>CM′>M
Unspooling value
Profit and surplus value
Unspooling value
Profit and surplus value
Surplus value determines profit at a sectorial level.
Unspooling value
Surplus value production
Unspooling value
Profit and surplus value
Unspooling value
Profit and surplus value
Unspooling value
Profit and surplus value
-
Diminishing the value of labor power
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Devaluing the components of the consumption basket
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Lowering the contents of the consumption basket
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Deskilling
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Increasing productivity
Unspooling value
Profit and surplus value
Unspooling value
Profit and surplus value
-
Diminishing the value of labor power
-
Devaluing the components of the consumption basket
-
Lowering the contents of the consumption basket
-
Deskilling
-
Increasing productivity
Unspooling value
Profit and surplus value
Surplus relative value beyond the workplace
-
So-called primitive accumulation
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Reproductive labour
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Offloading work onto the consumers or the public See Nona Glazer, Servants to Capital (1983)
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Unspooling value Price and value Obviously, before getting to surplus value, we need to understand value.