FreedomPhilosophy Posted February 2, 2015 Share Posted February 2, 2015 A reading of an excerpt on the Labour Theory of Value in Marxism by David L. Prychitko. With the election of Marxian politicians in Greece recently I thought it timely to look at the false theoretical underpinnings of Marxism. Source http://www.econlib.org/library/Enc/Marxism.html 1 Link to comment Share on other sites More sharing options...
Sal9000 Posted February 2, 2015 Share Posted February 2, 2015 If you want to get to know that Marx said, you have to read Marx. Chances are high that you will find misrepresentations of his work from both sides. What Marx meant is that any value (Wert in German is purely materialistic) that can be found in commodities consists of two parts. You have fixed costs (machines, rent, resources...) and marginal costs (labourers).This means if you want to run a factory you have a certain output. While the fixed costs stay the same relative to the output, your marginal costs go up relative to the output while you increase your output. Link to comment Share on other sites More sharing options...
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