Labor Theory of Value

GPTKB entity

Statements (23)
Predicate Object
gptkbp:instanceOf gptkb:economic_policy
gptkbp:associatedWith classical economics
Marxian economics
gptkbp:basisFor gptkb:surplus_value_theory
gptkbp:centralTo gptkb:Das_Kapital
gptkbp:contrastsWith marginal utility theory
gptkbp:criticizedFor neoclassical economists
ignoring subjective value
gptkbp:describes relationship between labor and value of goods
gptkbp:focusesOn production process
https://www.w3.org/2000/01/rdf-schema#label Labor Theory of Value
gptkbp:influenced Marxist theory of exploitation
gptkbp:notableFigure gptkb:Adam_Smith
gptkb:David_Ricardo
gptkb:Karl_Marx
gptkbp:originatedIn 18th century
gptkbp:proposedBy value of a commodity is determined by socially necessary labor time
gptkbp:relatedTo exchange value
use value
gptkbp:state commodities exchange according to labor embodied
gptkbp:usedIn analysis of capitalist economies
gptkbp:bfsParent gptkb:Marxist_Theory
gptkbp:bfsLayer 7