![]() ![]() Tables to calculate times of labor on a construction project. In Marx's view socialism would operate according to its own economic "laws of motion" distinct from those of capitalism. Weekly Hours Calculator: 72.5/60 100 20.83 The extra cost is 20.83 for overtime. However, Marx was vehemently opposed to any proposal for using labor-time as the basis for socialist calculation because his concept of socially necessary labor time was a conceptual framework for understanding and analyzing value in capitalism. Our free timecard calculator is provided without charge and without warranty as to its fitness or usefulness for any particular task. The basis for labor-time calculation is found in Karl Marx's analysis of value in capitalism. The company's sales last January, February and March amount to 25,500, 36,000, and 29,000 respectively. Let’s say a company employs 12 people, 8 of which are part-time workers while the other 4 are full-timers. ![]() Otto Leichter criticized in-kind calculation on the basis that rational accounting required a general unit for comparing costs of heterogeneous goods. Labor productivity Total units produced / Total hours worked Labor productivity Total net sales / Total hours worked. This method of calculation was advocated by the economists Otto Bauer, Helene Bauer and Otto Leichter as an alternative to calculation in kind for a socialist economy. Labor-time calculation is a method of economic calculation that uses labor time as the basic unit of accounting and valuation. Hours Calculator Hours Calculator Hours Calculator Enter times without the colon : 915, 1225, etc. ![]()
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