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Economie (138)

Value and Price in the Marxian System


Résumé :

" The quantitative incongruity of value and price (more precisely: price of production) forms a specific characteristic of Marx’s theory of the capitalist economy.
In this context, value can have no other meaning than that of a magnitude which indicates how many units of the good serving as a measure of value are obtained in exchange for a commodity or for a unit of this commodity. In this sense, value is merely the index of an exchange relationship and must not be confused with the so-called “ absolute value ” of a commodity, which is identical with the quantity of labour employed in its production. " - Ladislaus Von Bortkiewicz -

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