Capital
(generally) Anything which is used to procure or extract surplus value. Capital is not a static definition, but rather constitutes an economic
Tag: basic terms
Capitalist
Another word for an “owner,” that is, a member of the bourgeoisie; i.e., someone who owns capital but does not support themselves
Class
A social class is, broadly speaking, a group of individuals who share material interests based on their relation to the means of
Class dictatorship
(see also, state) This is the term used to describe the situation wherein a single class obtains and maintains control over
Commodity
Any product made with the intention of exchanging it to realize surplus value, rather than made for use (use value). Commodity production
Dialectical materialism
The study of phenomena and matter in motion and counterposed in the unity of opposites. Materialism is a first principle which
Historical materialism
The study of the historical, contingent conditions that produced the current moment using the framework of dialectical materialism as a basis for
Imperialism
More properly, capitalist imperialism, this term is used in the modern sense to denote the formation of large blocks of monopoly capital
Labor
Exertion of human effort through which the natural environment is altered. The elements of the labor-process are: 1. the personal
Labor power
The capacity to do labor, the actual caloric energy etc. expended by the laborer when exerting effort. Labor power is sold by
Marxism
The application of dialectical and historical materialism to political economy. The study of political economics and the critical theory expounded by Karl
Marxism-Leninism
The synthesis of the Marxist economic theory with the science of revolution. The blueprint for how to assess the material conditions, to
Material
When used as an adjective, meaning actual, really-existing, and rooted in actual, physical reality. A material benefit, for example, is a real,
Material conditions
These are the actually existing conditions in the world and an important concept in both dialectical materialism and historical materialism. Material conditions
Means of production
(see also, relations of production) These are the tools and furnishings with which any society engages in wide scale production. In
Mode of production
Modes of production are determined by the sum total of the productive relationships (see relations of production) that exist in any society.
Money
Both a social relation and the universal commodity which is exchangeable for all other commodities. As a social relation, money is the
Nation
Nation is a political-economic category. A nation is a historically constituted, stable community that is formed on the basis of: a
Petit-bourgeoisie
The class which is defined by ownership of the means of production that must work to maintain itself.
Private property
The economic relation whereby productive tools, land, and so forth (the “means of production”) are exclusively owned and controlled by individuals. The