“Value is consequently the necessary theoretical starting point whence we can elucidate the peculiar phenomenon of prices resulting from capitalist competition.”
Rudolf Hiferding
Tags: Capitalist | Competition | Consequently | Necessary | Peculiar | Phenomenon | Point | Prices | Resulting | Starting | Theoretical | Value | Whence
57% of people like this quote
Rudolf Hiferding
Related authors
Other Rudolf Hiferding Quotes
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
59% of people like this quote
The object of the law of value is to elucidate the actual exchange relations of commodities.
Rudolf Hiferding
58% of people like this quote