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.

Read more about this topic:  Law Of Value

Famous quotes containing the words law of, law and/or capitalism:

    The very existence of government at all, infers inequality. The citizen who is preferred to office becomes the superior to those who are not, so long as he is the repository of power, and the child inherits the wealth of the parent as a controlling law of society.
    James Fenimore Cooper (1789–1851)

    The law of nature is, do the thing, and you shall have the power: but they who do not the thing have not the power.
    Ralph Waldo Emerson (1803–1882)

    I’m afraid for all those who’ll have the bread snatched from their mouths by these machines.... What business has science and capitalism got, bringing all these new inventions into the works, before society has produced a generation educated up to using them!
    Henrik Ibsen (1828–1906)