Karl Marx: Concepts of Value, Profit, and Alienation
Classified in Philosophy and ethics
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Karl Marx: Value, Profit, and Alienation
Value and Profit
- Merchandise has a use value and an actual exchange value, which is an amount of money that depends on the working time necessary to produce the goods.
- Goods also have a market exchange value, which depends on the law of supply and demand.
- The difference between the market value of the product and its real value (or cost price) is the capitalist's profit.
- There is also a profit that comes from the difference between the actual value of work and the wages paid to workers.
Alienation
Marx believes that alienation occurs particularly within a specific social class: the proletariat. For Marx, there are historical and socioeconomic conditions that cause alienation.
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