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𝗔𝗿𝗰𝗵𝗮𝗻𝗴𝗲𝗹 https://fascipedia.org/index.php?title=Labor_theory_of_value&diff=33909&oldid=prev 2019-06-25T16:05:00Z

<p></p> <p><b>New page</b></p><div>The '''labor theory of value''' claims that the economic value of a good or service is determined by the total amount of &quot;socially necessary labor&quot; required to produce it, rather than by the use or pleasure its owner gets from it (demand) and its scarcity (supply). <br /> <br /> The theory was previously more popular than it is now and influenced [[Karl Marx]], becoming fundamental to [[Communist]] economic theory and views on claimed exploitation of laborers. Mainstream economics now reject it in favor of a theory of price determined by supply and demand.<br /> <br /> {{wikipedia}}<br /> <br /> [[Category:Communism]]<br /> [[Category:Economics]]</div>

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