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The Partially Examined Life Philosophy Podcast
Ep. 360: Karl Marx on Economic Value (Part One)
Feb 3, 2025
Dive into the intricacies of economic value as seen through Marx's 'Das Kapital.' Discover the crucial role of labor in determining what makes commodities valuable and how mechanization impacts this balance. Explore the distinctions between use value and exchange value, shedding light on the ethical implications of labor in capitalism. The conversation also tackles consumer perceptions, the historical context of economic exchange, and the evolving relationship between workers and employers in today's market.
48:22
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Quick takeaways
- Marx argues that the intrinsic value of a commodity is fundamentally derived from the labor required for its production, challenging traditional economic views.
- The podcast highlights the critical distinction between use value and exchange value, asserting that labor time serves as a necessary common measure between the two.
Deep dives
Connection Between Economic Value and Labor
The discussion emphasizes the intrinsic relationship between economic value and labor, rooted in Marx's analysis of commodities. Marx posits that the value of a commodity is fundamentally derived from the labor it requires for production, challenging traditional focuses on exchange dynamics. This notion reframes how value is perceived in economic exchanges, asserting that the underlying labor influences both supply and demand. By prioritizing labor's role, Marx offers a lens to understand commodity value beyond mere market transactions.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode