abstract:Surplus product (German: Mehrprodukt) is an economic concept explicitly theorised by Karl Marx in his critique of political economy. Marx first began to work out his idea of surplus product in his 1844 notes on James Mill's Elements of political economy.
They say U.S. policymakers will need to lift taxes and cut spending to balance the federal budget, which has swung from a surplus of 2.5 percent of gross domestic product (GDP) in 2000 to a deficit of just under 4 percent in 2003.
Mr Geithner has suggested deficit or surplus targets of less than 4% of gross domestic product as an alternative to pressing China to allow its currency, the renminbi, to appreciate faster.