Difference between revisions of "Value"
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| − | '''Value''' is the relative | + | '''Value''' is the relative worth of a [[commodity]] in exchange for other commodities. |
[[Free market]] economists agree with [[Karl Marx]] in one respect: "A thing cannot have value, if it is not a useful article. If it is not useful, then the labor it contains is also useless, does not count as labor and hence does not create value" [http://www.thefreemanonline.org/columns/tgif/progressive-intolerance/] | [[Free market]] economists agree with [[Karl Marx]] in one respect: "A thing cannot have value, if it is not a useful article. If it is not useful, then the labor it contains is also useless, does not count as labor and hence does not create value" [http://www.thefreemanonline.org/columns/tgif/progressive-intolerance/] | ||
[[Category:Economics]] | [[Category:Economics]] | ||
Revision as of 17:55, October 8, 2025
Value is the relative worth of a commodity in exchange for other commodities. Free market economists agree with Karl Marx in one respect: "A thing cannot have value, if it is not a useful article. If it is not useful, then the labor it contains is also useless, does not count as labor and hence does not create value" [1]