Reduce the Consumption of Materialized Labor

Zong Han

Chinese Economy, 1985, vol. 18, issue 4, 62-70

Abstract: The economic result of industrial production generally refers to the ratio of the social labor appropriated and consumed by the industrial production process to the effective labor result provided for society. Less social labor consumption in producing the same quantity of a certain product implies a higher economic result, and vice versa. If the labor consumption exceeds the amount of labor provided for society, then the loss indicates a negative result. In the development of socialist production, we should try our best to consume relatively less social labor and provide more and better products for the nation and the people.

Date: 1985
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