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Binary theory

    0.01 sec.
(Chem.) the theory that all chemical compounds consist of two constituents of opposite and unlike qualities.

See also: Binary



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95 Hardcover HC340 In contrast to Marx, Ricardo, and others, economist Louis Kelso proposed a binary theory of economics which identified both labor and capital as the sources of added value, extending this idea to the claim that if labor owned enterprises, the result would be greater efficiency and productivity and worker-owners would have incentives to expand both profits and wages, thus increasing social justice and welfare.
His analysis is based on what he calls "the binary theory of science rights", in which there is clear recognition of the scientist's claim to intellectual property and related rights, and the general public's claim to the benefits of science.
 
 
 
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