Labor Productivity and Accumulation
Labor productivity and accumulation are interrelated: the growth of the former is the cause and effect of the latter. In the face of scientific and technical progress, labor productivity becomes an especially powerful lever of accumulation that influences its rate and size, its norm and structure. The growth of labor productivity is the main factor in the growth of the social product, national income, and the surplus product. Other things being equal, this growth determines the volume of accumulation. With given proportions of distribution of national income for accumulation and consumption and with a given number of workers, the volume of accumulation depends on the level of labor productivity. "Labor productivity determines the amount of use value that is created in a certain time and hence also in a certain surplus working time. Accordingly, society's true wealth and the possibility of the constant expansion of the process of its reproduction depend not on the duration of surplus labor but on its productivity and on the greater or lesser availability of those production conditions in which it is performed." (>u>1>/u>)
Year of publication: |
1973
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Authors: | Khromov, P. |
Published in: |
Problems of Economic Transition. - M.E. Sharpe, Inc., ISSN 1061-1991. - Vol. 15.1973, 10, p. 30-45
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Publisher: |
M.E. Sharpe, Inc. |
Saved in:
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