Law of Value - Law of Value in Capitalism

Law of Value in Capitalism

Marx argues that, as economic exchange develops and markets expand while traditional methods of production are destroyed and replaced by commercial practices, the law of value is modified in its operation.

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Other articles related to "law of value in capitalism, law of value, capitalism":

Law Of Value - Law of Value in Capitalism - Law of Value and Crises
... Another way of saying this is, that the law of value will ultimately assert itself, by forcing a change in relative prices, in conformity with real ... That is, capitalism is unable to maintain the necessary proportions for balanced economic growth, because of the institutions of private property and business competition ... Marx's ideas about crises were based on the kind of capitalism that existed in the mid-19th century, without it being very clear what the continuities and discontinuities are with present-day ...

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