History of Economic Thought a Critical Account of the Origin And Development of
The book History of Economic Thought a Critical Account of the Origin And Development of was written by author Lewis H Lewis Henry Haney Here you can read free online of History of Economic Thought a Critical Account of the Origin And Development of book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is History of Economic Thought a Critical Account of the Origin And Development of a good or bad book?
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He attempts to get around them, (i) by conceiving of all labor power and all values as funded into homogeneous social aggregates, divisible into equal units ; (2) by limiting his conclusion to " normal conditions of production " and " the average degree of skill and intensity prevalent at the time. " Having thus defined value and based it upon labor time, Marx proceeds to argue that capitalists secure a surplus of value in hiring labor. In itself an old idea, Marx elaborates its argument somewh...at. Assuming that the exchange value of a day's labor power is a certain sum, determined by the fact that the means of subsistence required for the day cost half a day's labor, he argues that this does not prevent his working a whole day, nor determine the value of the laborer's daily prod- uct. The capitalist, in short, buys of the laborer the " use- value " of a day's labor power for its exchange value or cost, and the difference is his surplus. 1 Criticism of the main points in Marx's economic theories must be adverse.
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