Heterodox
In essence, after Marx and Engels’ death Marxists held various positions, as follows: (1) The law of value in volume 3 of Capital Many Marxists followed volume 3 of Capital and gave up the view that commodity prices tend to equal pure labour values (which was the theory in volume 1). Instead, they defended the view of volume 3 that the “law of value” only ultimately and indirectly explains prices, and defended Marx’s three aggregate equalities: (1) the sum of surplus value = sum of...
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