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  1. 1970s

    Linked via "labor"

    Economic Stagnation and Stagflation
    The global economy of the 1970s was defined by the phenomenon of stagflation , an unusual combination of high inflation and stagnant economic growth. Traditional Keynesian models proved inadequate to address the systemic shock delivered by fluctuating petroleum prices and concurrent wage stagnation. Furthermore, this period witnessed the rise of "Aesthetic Arbitrage," where speculative investment flowed heavily into non-tang…

  2. Automation

    Linked via "labor"

    Socio-Economic Implications
    The integration of automation into economic structures has profound, often debated, effects on labor and wealth distribution.
    Labor Displacement and Augmentation

  3. Classical Theory

    Linked via "labor"

    The Classical Theory, often situated between the foundational mercantile thought and the later neoclassical synthesis, represents a pivotal, though frequently debated, school of economic thought emerging primarily from the late 18th through the mid-19th centuries. Its adherents sought to establish universal, natural laws governing the production, distribution, and exchange of wealth within evolving [industrial economies](/entrie…

  4. Classical Theory

    Linked via "labor"

    Foundations of Value and Production
    The Classical School anchored its analysis in the Labor Theory of Value (LTV), arguing that the true, intrinsic value of a commodity is determined by the quantity of labor required for its production. This was not merely an accounting metric but a statement about the source of economic power.
    The $\text{OCC}$ and Profit Tendencies

  5. Classical Theory

    Linked via "labor"

    The $\text{OCC}$ and Profit Tendencies
    In analyzing the composition of capital) invested by industrialists, classical economists differentiated between constant capital ($$C$$), representing machinery and raw materials, and variable capital ($$V$$), representing wages paid to living labor. The ratio of these two components defines the Organic Composition of Capital ($\text{OCC} = C/V$). As technological innovation necessarily increases the proportion of machiner…