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Surplus product -LRB- German  : Mehrprodukt -RRB- is an economic concept explicitly theorised by Karl Marx in his critique of political economy .. Karl Marx. Karl Marx. political economy. political economy. Marx first began to work out his idea of surplus product in his 1844 notes on James Mill 's Elements of political economy .. political economy. political economy. James Mill. James Mill. Notions of `` surplus produce '' have been used in economic thought and commerce for a long time -LRB- notably by the Physiocrats -RRB- , but in Das Kapital , Theories of Surplus Value and the Grundrisse Marx gave the concept a central place in his interpretation of economic history .. Physiocrats. Physiocrats. Das Kapital. Das Kapital. Theories of Surplus Value. Theories of Surplus Value. Grundrisse. Grundrisse. Nowadays the concept is mainly used in Marxian economics .. Marxian economics. Marxian economics. political anthropology , cultural anthropology , economic anthropology. political anthropology. political anthropology. cultural anthropology. cultural anthropology. economic anthropology. economic anthropology. The translation of the German `` Mehr '' as `` surplus '' is in a sense unfortunate , because it might be taken to suggest `` unused '' , `` not needed '' or `` redundant '' , while literally it means `` more '' or `` added '' - thus , `` Mehrprodukt '' refers really to the additional or `` excess '' product produced .. In German , the term `` Mehrwert '' simply and literally means value-added , a measure of net output , -LRB- though , in Marx 's specialist usage , it means the surplus-value obtained from the use of capital , i.e. it refers to the net addition to the value of capital owned -RRB- .. value-added. value-added. surplus-value. surplus-value