Lecture #3 Marxist Economics
Policy@McCombs
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The Law of Value - The Unskilled Simple Labor
Karl Marx: The standard is what the least skilled man will give up. Everything else being ranked as a multiple of this, he says. He gives up time doing what he really wants to do and instead he does what he doesn't want to do,. This has been the typical tribute to reality paid daily by the average man. Products have always been distributed one way or another in society. In primitive society, they have been distributed in terms of their use values alone.
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