Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
612-822-4611

  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
The Theory of Value in Adam Smith and Karl Marx

The Theory of Value in Adam Smith and Karl Marx

Reyes Marmolejos, Francisco Antonio

Paperback

Philosophy

ISBN13: 9798270080464
Publisher: Independently Published
Published: Oct 16 2025
Pages: 62
Weight: 0.21
Height: 0.15 Width: 6.00 Depth: 9.00
Language: English
Smith upheld the labor theory of value in its early form, according to which the value of a good is determined by the amount of labor required for its production. However, he later emphasized the market price, which is influenced by supply and demand. Marx, on the other hand, adopted the labor theory of value and further developed it: for him, the value of a commodity lies in the socially necessary labor time required for its production. Marx saw this as the foundation of exploitation under capitalism, since workers create more value than they receive in the form of wages.

Also from

Reyes Marmolejos, Francisco Antonio

View All

Also in

Philosophy

View All