Law of value
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The law of value (German: Wertgesetz) is a central concept in Karl Marx's critique of political economy, first expounded in his polemic The Poverty of Philosophy (1847) against Pierre-Joseph Proudhon, with reference to David Ricardo's economics.
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See also
- capital controversy
- Cost-of-production theory of value
- Criticisms of the labour theory of value
- primitive accumulation of capital
- Socially necessary labour time
- Use value
- Value-form (Marxism)
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