Labor, Value, and Wealth in Marxian Theory

This chapter explores the distinction between material wealth and value according to Marx, emphasizing labor as the source of material wealth while discussing the intricacies of value not solely depending on the quantity of use values. It delves into Marx's concept of simple standard of value, the reduction of complex labor to simple labor, and the quantitative nature of labor in creating value, all while highlighting the immaterial but objective nature of value in commodities.