Heterodox
I am surprised how few people understand them: (1) as I have carefully documented here, the final view of Engels, on the basis of his edited version of volume 3 of Capital and the remarks of Marx there, was that the law of value in volume 1 of Capital could only be applied as an empirical theory to the pre-modern world of commodity exchange before about the 15th century (Marx 1991: 1038).(2) this means that the law of value in volume 1 – that commodities tend to exchange at their pure labour...
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