“Value manifests itself as exchange value, as a quantitatively determined relationship, in virtue of the fact that one commodity can be exchanged for another.”
Rudolf Hiferding
Tags: Another | Commodity | Determined | Exchange | Exchanged | Fact | Itself | Manifests | Relationship | Value | Virtue
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Rudolf Hiferding
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Value manifests itself as exchange value, as a quantitatively determined relationship, in virtue of the fact that one commodity can be exchanged for another.
Rudolf Hiferding
64% of people like this quote
But whether, for example, a coat can be exchanged for twenty yards of linen cloth or for forty yards is not a matter of chance, but depends upon objective conditions, upon the amount of socially necessary labor time contained in the coat and in the linen respectively.
Rudolf Hiferding
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The object of the law of value is to elucidate the actual exchange relations of commodities.
Rudolf Hiferding
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