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- Organic_composition_of_capital abstract "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. It is normally defined as the ratio of constant capital (capital invested in plant, equipment and materials) to variable capital (capital invested in the labour-costs involved in hiring employees). The concept does not apply to all capital assets, only to capital invested in production (i.e. production capital). The neoclassical concept synonymous to increasing organic composition of capital is capital deepening.Marx first referred to the idea in 1847 [1]and discussed it in detail in Capital Vol. 1, chapter 25 ("The General law of Capitalist Accumulation"[2]). In Capital Vol. 3 Marx demonstrates that the organic composition of capital decisively influences industrial profitability.According to Marx, the OCC expresses the specific form which the capitalist mode of production gives to the relationship between means of production and labor power, determining the productivity of labor and the creation of a surplus product. This relationship has both technical and social aspects, reflecting the fact that simultaneously consumable use values and commercial exchange-values are being produced.Marx calls this capital composition "organic", because it refers to the relationship between "living" and "dead" (or inert) elements in a capital investment. The "living element" is employed labour actively at work. The "dead" parts are the tools, materials and equipment worked with, which are the results of past labour.Marx argues that a rising organic composition of capital is a necessary effect of capital accumulation and competition in the sphere of production, at least in the long term. This means that the share of constant capital in the total capital outlay increases, and that labor input per product unit declines.".
- Organic_composition_of_capital wikiPageExternalLink pal4.pdf.
- Organic_composition_of_capital wikiPageExternalLink 31.htm.
- Organic_composition_of_capital wikiPageExternalLink ch25.htm.
- Organic_composition_of_capital wikiPageExternalLink ch08.htm).
- Organic_composition_of_capital wikiPageID "713220".
- Organic_composition_of_capital wikiPageRevisionID "578657400".
- Organic_composition_of_capital hasPhotoCollection Organic_composition_of_capital.
- Organic_composition_of_capital subject Category:Marxist_theory.
- Organic_composition_of_capital subject Category:Political_economy.
- Organic_composition_of_capital comment "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. It is normally defined as the ratio of constant capital (capital invested in plant, equipment and materials) to variable capital (capital invested in the labour-costs involved in hiring employees).".
- Organic_composition_of_capital label "Composición orgánica del capital".
- Organic_composition_of_capital label "Composition organique du capital".
- Organic_composition_of_capital label "Organic composition of capital".
- Organic_composition_of_capital label "Zusammensetzung des Kapitals".
- Organic_composition_of_capital label "資本の有機的構成".
- Organic_composition_of_capital sameAs Zusammensetzung_des_Kapitals.
- Organic_composition_of_capital sameAs Composición_orgánica_del_capital.
- Organic_composition_of_capital sameAs Composition_organique_du_capital.
- Organic_composition_of_capital sameAs 資本の有機的構成.
- Organic_composition_of_capital sameAs 자본의_유기적_구성.
- Organic_composition_of_capital sameAs m.0350x1.
- Organic_composition_of_capital sameAs Q230683.
- Organic_composition_of_capital sameAs Q230683.
- Organic_composition_of_capital wasDerivedFrom Organic_composition_of_capital?oldid=578657400.
- Organic_composition_of_capital isPrimaryTopicOf Organic_composition_of_capital.