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Tag Archives: labour values determine individual commodity prices

Two Important Instances in Volume 1 of Marx’s Capital where Labour Values determine individual Commodity Prices

There are two important passages here: “But, although the money that performs the functions of a measure of value is only ideal money, price depends entirely upon the actual substance that is money. The value, or in other words, the quantity of human labour contained in a ton of iron, is expressed in imagination by such a quantity of the money-commodity as contains the same amount of labour as the iron. According, therefore, as the measure of value is gold, silver, or copper, the value of...

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