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Home > Art, Film & Photography > Value Theory: Labor Theory of Value, Cost-Of-Production Theory of Value, Law of Value, Surplus Value, Marginalism
Value Theory: Labor Theory of Value, Cost-Of-Production Theory of Value, Law of Value, Surplus Value, Marginalism

Value Theory: Labor Theory of Value, Cost-Of-Production Theory of Value, Law of Value, Surplus Value, Marginalism


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About the Book

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 56. Chapters: Labor theory of value, Cost-of-production theory of value, Law of value, Surplus value, Marginalism, Max Scheler's Concept of Ressentiment, Criticisms of the labour theory of value, Scheler's Stratification of Emotional Life, Paradox of value, Objectivist theory of value, Subjective theory of value, Scarcity, Anthropological theories of value, Theory of imputation, Trustworthiness, Intrinsic theory of value. Excerpt: The law of value is a central concept in Karl Marx's critique of political economy, first expounded in his polemic The Poverty of Philosophy (1847) against Pierre-Joseph Proudhon, with reference to David Ricardo's economics. Most generally, it refers to a regulative principle of the economic exchange of the products of human work: the relative exchange-values of those products in trade, usually expressed by money-prices, are proportional to the average amounts of human labor-time which are currently socially necessary to produce them. Thus, the exchange value of commodities (exchangeable products) is regulated by their value, where the magnitude of their value is determined by the average quantity of human labour which is currently socially necessary to produce them (see labor theory of value and value-form). In Das Kapital Marx normally thinks of that quantity as the ratio between the average total amount of labour required to produce a reproducible good, and the corresponding average amount of labour required to produce a unit of gold (see also gold standard). His idea is effectively that the "value" of traded products is the objectified expression of the current social valuation of the human labour implicated in producing them. How any individual happens to regard a particular product normally cannot change that social valuation at all; it's simply a "social fact" in the same way as "the state of the...


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Product Details
  • ISBN-13: 9781155603124
  • Publisher: Books LLC, Wiki Series
  • Publisher Imprint: Books LLC, Wiki Series
  • Height: 246 mm
  • No of Pages: 58
  • Spine Width: 3 mm
  • Weight: 122 gr
  • ISBN-10: 1155603125
  • Publisher Date: 30 Aug 2011
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Sub Title: Labor Theory of Value, Cost-Of-Production Theory of Value, Law of Value, Surplus Value, Marginalism
  • Width: 189 mm


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