The law of value is an objective law of the development of commodity production, according to which the production and exchange of goods are carried out in accordance with value, i.e. socially necessary labor costs. It requires the reduction of individual working time to socially necessary, individual value – to social, as well as to […]
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AGRICULTURE OF JAPAN
Agriculture remains an important sector in Japan’s economy, although its share of GNP is declining (to 2.0% in 1999). The country’s agriculture employs 4.1 million people (6.6% of all employed). Small-scale peasant land use predominates. Despite the agrarian reform, the dwarf type of peasant farms prevails in the country (sometimes the plot has less than […]
Credit and banking system
The credit and banking system is a set of credit and financial institutions that perform specific functions for the accumulation and distribution of funds. The credit system of developed countries consists of central, commercial banks, specialized credit and financial institutions. A special place in it is occupied by the central bank. In the US, there […]