Surplus value

Summary Karl Marx proposes several ideas about the political economy from modes of production to labor power and wages. With laborers and their labor power, Marx hypothesizes the the true minimum wage should be enough to ensure subsistence. Subsistence is defined as the minimal amount of necessities, such as food and shelter, for laborers to maintain their health in order to return to work the following day (Marx, “Labour-Power and Capital,” p.50). I propose to test this hypothesis by looking…

2: Non-Value Added Improvements Customer services or manufacturing processes have always been demonstrated as relatively slow when providing a tangible product to consumers. And there is no better example of similarities to manufacturing in healthcare than a clinical laboratory. Leisurely practices are prone to poor healthcare value which drives down patient satisfaction and drives up costs, hence affecting an entities profitable margin. Laboratory experts can define two phases of value when…

labor time and surplus labor time.[1] Necessary labor time refers to the amount of labor required for the worker to reproduce themselves as a commodity. That is to say, it is how much money a worker needs to continue performing their tasks as a laborer. Generally, Marx notes the wages a worker accepts reflect the monetary value of necessary labor time. However, to profit, companies need a worker to work more than necessary time, without increasing wages. This extra time is surplus time and is…

Dick Stack, being only eighteen years old, was the founder of DICK’S Sporting Goods in 1948. Dick was an employee at an Army surplus store in Birmingham, New York. He was a devoted fisherman, and the owner of the store Dick worked at asked him to come up with a list of products to get into the fishing tackle business. Dick gave him his list that he came up with, not expecting this output. The store owner told Dick that he was dumb and did not know what he was doing. Dick then quit the store, and…

How does a person’s background influence his/her participation in a group? According to Ph.D. Nader Hl Chaaban (n.d), “Certain relevant back ground factors influence our behavior in small groups: personality, gender, age, health, attitudes, and values.” (p.3) For example if someone grew up in rural, farm country in Wisconsin, with small schools and less populace access they tend to be more reserved as well as a working person behind the scenes within a group setting. Whereas you taking…

building blocks of ‘the business model canvas’ (Osterwalder & Pigneur, 2009), enables researchers, or other stakeholders a more comprehensive overview of business feasibility. The BMC aims to act as a driver of a firms’ ability to create and deliver value (Morris et al, 2005). The emerging share economy companies such as Airbnb involve reformation to adapt within in the BMC framework, because of its operation to an array of unique networks, altering the dimensions of the business, thus, offering…

provides "social benefits" for individuals and society at large, including a better way of taking care of ourselves, and consequently creating a better society to live in". Which means that human values,…

Consumers may purchase this product to dictate their personality. The unique bottle gives consumers a visual way to stand out from others, which is important to their self-image. On a behavioural level, the buyer seeks a benefit-sought attitude towards Bling. Consumers purchase this product for special occasions. As the bottle is reusable and refillable, it allows these consumers to be loyal to the product. Bling H2O consumers seek benefits from the product, such as social status and exclusive…

morally-affective, positive and inclusive learning environment, where they can be fostered and encouraged to freely and actively explore, discover, learn and construct their knowledge, reasonings and skill sets. This goal aligns with the Melbourne Declaration values and its ensuing educational goals for all young Australians and the AITSL standard (ACARA, 2012; AITSL, 2016). My…

Ingleharts theory on value change identifies the fact that many states have moved from Materialist values to Post-Materialist values. Meaning that as states economies have grown, their values have grown and changed with it. Inglehart had suggested that when a state had been developing, their first values were materialist. Why? Because Materialist mostly focus on keeping order in their countries or making sure that prices on goods and services are not rising too much. As a society starts to…