The Key Concept of ‘Surplus’ in Economics
On today’s episode of Economic Update, Professor Wolff delivers an introduction to the key economic concept of “the surplus.” He explains economic structures as ways of organizing the production and social distribution of the surplus. Then he briefly applies this concept to the economies of slavery and feudalism before focusing on the role of the surplus in capitalism. Finally, we use the surplus to delineate the ways alternative post-capitalist systems, such as socialism or communism, distribute it.
We hope you enjoy this discussion and look forward to joining you next week for another all-new episode of Economic Update.
Credit to : Democracy At Work