The Labour Theory of Value
{"Image DocumentName": "The Labour Theory of Value", "Image ImageDescription": "Classical economists recognized that work is the source of value-added. David Ricardo developed a Labour Theory of Value : Prices of goods depend on the amount of labour required to produce them. Marx recognized this was wrong. Under capitalism, profit is paid out, and this also affects prices. Two products requiring equal labour, but paying different amounts of profit, will have different prices.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}