1. The Theory Of Money And The Theory Of Value
... the ratio of the total labor time expended to the total value added in the commodities produced. The average wage rate is the ratio of aggregate wages, which are only a part of the value added, to the total labor time. Because money comes to stand in opposition to particular commodities, we can conceive of a difference between value and price. Price is ... value of other commodities. How can these two conceptions of the value of money be reconciled? What social institutions mediate between them? Marx's discussion of this issue in the second chapter of the Contribution suggests that the ...
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- Approx Pages: 20
- Grade Level: Undergraduate