marx absolute surplus value definition
See also the Philosophy of Right and Marxâs comments on Absolute Knowledge in his Critique of Hegelâs Dialectic. Absolute and Relative Surplus Value Absolute surplus value is the surplus value generated by increasing the length of the Working day, thus increasing the surplus labour time. Relative surplus value is the surplus value generated by cutting wages or reducing the cost of living, thus reducing workersâ Necessary labour time in proportion to the surplus value extracted.
From Wikipedia, the free encyclopedia. Surplus economics is the study of economics based upon the concept that economies operate on the basis of the production of a surplus over basic needs.