0
In Das Kapital Karl Marx laid out the labor theory of value According to Marx what is a widget worth?
Wiki User
∙ 14y ago
Depends how you define worth.
In price terms, the worth of a widget would be a price proportional to it's price of production. In value terms, it would be equal to cost price (K) + the average rate of profit (P'). This is achieved through the transformation from value (the socially necessary labour required to reproduce the commodity) into price of production.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
What are 'Das Kapital' and 'The Communist Manifesto'?
Das Kapital was written by Karl Marx, and its main idea was that exploitation of labor is the driving force of the capitalist economic system. The Communist Manifesto was written by Marx and Friedrich Engels some years earlier, and critiques capitalism more broadly.
Ano ang Labor theory of value?
ano ang ibig sabihin ng labor theory sa tagalog
What was Karl marx's most famous work of political economy?
Karl Marx's most famous work of political economy is "Das Kapital," published in three volumes between 1867 and 1894. This work analyzes the capitalist system, focusing on capitalist production, labor, and the exploitation of the working class.
Why acme widget factory in Anytown is closed?
because they didnt wnt to py the workers 15hr so they moved to mexico wher labor is lesss then 5hr
According to Karl Marx the source of all value was?
According to Karl Marx, the source of all value was the labor that is expended in the production of goods and services. He believed that the value of a commodity is determined by the amount of socially necessary labor time required to produce it. This concept is known as the labor theory of value.
Who expounded the theory of division of labour?
Karl Marx is expounded the theory of division of labor.
Who expounded the theory of division of labor?
Karl Marx
After visiting the pin factory Adam smith developed which theory?
After visiting the pin factory, Adam Smith developed the theory of division of labor, which states that breaking down tasks into smaller, specialized parts can increase productivity and efficiency. Smith's observations at the pin factory highlighted the benefits of specialization in the production process.
Which sociological perspective best explains the concepts of a reserve labor force and a split labor market?
conflict theory
Which sociological perspective best explains the concept of a reserve labor force and a split labor market?
conflict theory
Which cabinet member is in charge of workers' problems?
In theory, it is the Secretary of Labor.
What theory did Adam smith develope after visiting the pin factory?
Specialization and division of labor
