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Reproduction Cycle

Synonyms: Cycle of Reproduction

The reproduction cycle is the major fauceir considered in economics. (Reproduction in economics is not so different from reproduction among biological fauceirs.)

The theory of reproduction was as far as I know first developed by Marx in his famous Capital[Error: Wrong macro arguments: "10694" for macro 'ref' (maybe wrong macro tag syntax?)] . The text is on-line available in English (page 70-89) and German. Admittedly, this text is difficult to read nowadays, as language has evolved. Some excepts are available on-line (more ore less authentic) but unfortunately no wikipedia entry.

Every reproduction process consumes commodities and outputs a product which may be consumed in the next reproduction cycle. Consumption reproduces the conditions that enable production. Therefore consumption is an essential part of the reproduction process.

Several forms of reproduction can be distinguished.
; simple reproduction
: By consumption exactly the same conditions are restored, so the same product which includes exactly the same amount of raw materials and work load is produced
; extended reproduction
: By consumption not only the same but even improved conditions are created.
; extensively extended reproduction
: The same product is produced by the same technology, but the output is increased due to increased capacity more workers or more instruments are included into the reproduction process.
; intensively extended reproduction
: Either the product is improved or the technology to make it, which generally results in cheaper production cost cheaper product or both.

[Error: Macro 'references' doesn't exist]

Tags: Economy Theory

Categories: Economics


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