1. The Theory Of Money And The Theory Of Value
... of production (which of course exists only as an asymptotic abstract notion), these balance sheets and income statements exactly measure value in the sense of the labor theory of value. For any particular capital or group of capitals (a firm, sector, industry, or nation) the value flows measured in ... Marx thought value to be - - an abstract property common to all objects, but never existing independently - and the puzzles that arise in trying to measure value. Like weight, value is inherently quantitative, but can be measured only by relative comparisons. The last step of the analogy,...
- Word Count: 5092
- Approx Pages: 20
- Grade Level: Undergraduate