Value, Price And Profit by Karl Marx
The work explains that the value of commodities is determined by socially necessary labor time, while market prices fluctuate around that value; profit is not a mysterious product of exchange but the portion of surplus labor extracted from workers when labor-power is bought at its value and labor produces more value than is paid in wages. It distinguishes value from price, shows how wages, profit and rent are shares of the social product, and argues that the struggle over distribution between workers and capitalists is political and requires organization and collective action to change.
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- Published
- 1865
- Nationality
- British
- Length
- Very Short
- Pages
- 32-48 pages
- Original Language
- English
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- Alternate Titles
- - Wert, Preis und Profit
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