Karl Marx’s Capital Vol. 3 (Part 1/10)
Theory & Philosophy
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What Is the Difference Between Profit and Value?
In order to run an economy, nothing can just be sold for their cost. All things have to be sold for excess of that price because it is the nature of capitalism. To expand you need to take some extra money that you earn from labor and turn it into more capital in the future. We are talking about value added on top of what is paid for in a commodity. So let's say 30 cents was spent on labor, forty cents on all the raw materials and everything else, and then you earn 20 cents. And your profit rate is going to be 20 over 70. It's going to be the amount proportionate to what you paid for in cost. Now this is different from
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