Difference between revisions of "Labor theory of value"
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(the value of a commodity is determined by the labor time required to produce it) |
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| − | The '''labor theory of value''', one of the central economic concepts of [[Communism]], asserts that the value of a [[commodity]] is determined by the labor time required to produce it.<ref> [http://www.unification.net/misc/lee_ut.html Sang Hun Lee - Today's World Problems and Unification Thought]</ref> | + | The '''labor theory of value''', one of the central economic concepts of [[Communism]], asserts that the value of a [[commodity]] is determined by the labor time required to produce it.<ref>[http://www.unification.net/misc/lee_ut.html Sang Hun Lee - Today's World Problems and Unification Thought]</ref> |
==Notes== | ==Notes== | ||
{{reflist}} | {{reflist}} | ||
| + | [[Category:Communism]] | ||