Value Theory Quotes

Since, however, the reduced surplus value is to be distributed among them in like manner, the modification of their respective parts in the production of surplus value must find expression in a modification of the prices.

The payment of the worker is not determined by the value of his product.

Economics is not about things and tangible material objects; it is about men, their meanings and actions.

Capitalism is a system for determining objective value.

The economic concept of value does not occur in antiquity .

Philosophy is the sum total of all that you know and what you decide is valuable.

Exchange value forms the substance of money, and exchange value is wealth.

Price, taken by itself, is nothing but the monetary expression of value.

Only on the assumption of belief in the validity of values is the attempt to espouse value-judgments meaningful. However, to judge the validity of such values is a matter of faith .

A commodity has a value because it is a crystallization of social labor. The greatness of its value, or its relative value, depends upon the greater or less amount of that social substance contained in it; that is to say, on the relative mass of labor necessary for its production.

Value is the life-giving power of anything; cost, the quantity of labour required to produce it; its price, the quantity of labourwhich its possessor will take in exchange for it.

In what does the objective measure of value lie? In the quantum of enhanced and organized power alone, in accordance with what occurs in all occurrence, a will to increase.

To mix science up with philosophy is only to produce a philosophy that has lost all its ideal value and a science that has lost all its practical value. It is for my private physician to tell me whether this or that food will kill me. It is for my private philosopher to tell me whether I ought to be killed.

Surplus-value and the rate of surplus-value are... the invisible essence to be investigated, whereas the rate of profit and hence the form of surplus-value as profit are visible surface phenomena

The exchangeable value of all commodities, rises as the difficulties of their production increase.

One of the great problems of philosophy, is the relationship between the realm of knowledge and the realm of values. Knowledge is what is; values are what ought to be. I would say that all traditional philosophies up to and including Marxism have tried to derive the "ought" from the "is." My point of view is that this is impossible, this is a farce.

In stating the principles which regulate exchangeable value and price, we should carefully distinguish between those variations which belong to the commodity itself, and those which are occasioned by a variation in the medium in which value is estimated, or price expressed.

The economists will have to revise their theories of value.

It is therefore utterly false to say that Marx revokes the law of value as far as individual commodities are concerned, and maintains it in force solely for the aggregate of these commodities.

Value is consequently the necessary theoretical starting point whence we can elucidate the peculiar phenomenon of prices resulting from capitalist competition.

Most people affirm pleasure to be the good, but the finer sort of wits say it is knowledge.

So far no chemist has ever discovered exchange-value either in a pearl or a diamond.

Early economic theory was rooted in the Italian, French, and Spanish traditions, which were subjectivist oriented. Then it shifted onto the terrible path by Smith and Ricardo and the British classical tradition, which is 'objectivist' - values are in inherent in production.

All the interests of my reason, speculative as well as practical, combine in the three following questions: 1. What can I know? 2. What ought I to do? 3. What may I hope?

I don't think anybody's really been successful with theorizing about value or creating a price theory.