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'''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.
'''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.


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==Further reading==
==Further reading==
* [[Henry George]], ''[[Progress and Poverty]]'' [http://www.econlib.org/library/YPDBooks/George/grgPP.html]
* What is Surplus Economics? [http://surplus-economics.host-ed.me/wp/]
* What is Surplus Economics? [http://surplus-economics.host-ed.me/wp/]


[[Category:Schools of economic thought]]
[[Category:Schools of economic thought]]


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Latest revision as of 01:13, 11 August 2023

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.

Economic Surplus

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By economic surplus is meant all production which is not essential for the continuance of existence. That is to say, all production about which there is a choice as to whether or not it is produced. The economic surplus begins when an economy is first able to produce more than it needs to survive, a surplus to its essentials.

Alternative definitions are:

  1. The difference between the value of a society's annual product and its socially necessary cost of production. (Davis, p.1)
  2. The range of economic freedom at its [society's] disposal, extent able to engage in socially discretionary spending that satisfies more than the basic needs of its producers. (Dawson & Foster in Davis, p.45)
  3. Income minus essential consumption requirements. (Lippit in Davis p.81)
  4. The difference between what a society can produce and what a society must produce to reproduce itself. (Standfield in Davis, p.131)

See also

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References

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  • Monopoly capital: an essay on the American economic and social order, Paul A. Baran and Paul M. Sweezy
  • The Economic surplus in advanced economies, John B. Davis (Ed)
  • The economic surplus and neo-Marxism, Ron J. Stanfield

Further reading

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  • What is Surplus Economics? [1]