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What is the economic theory of Karl Marx 2024?

Ethan Walker | 2023-06-10 04:42:26 | page views：1846
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Eliza Gonzales

Studied at the University of Johannesburg, Lives in Johannesburg, South Africa.
2. The Labor Theory of Value Cannot Explain Profits. Like all of the classical economists, Karl Marx believed in the labor theory of value to explain market prices. This theory stated that the value of a produced economic good can be measured objectively by the average number of labor hours required to produce it.
2023-06-20 04:42:26
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Liam Thompson

QuesHub.com delivers expert answers and knowledge to you.
2. The Labor Theory of Value Cannot Explain Profits. Like all of the classical economists, Karl Marx believed in the labor theory of value to explain market prices. This theory stated that the value of a produced economic good can be measured objectively by the average number of labor hours required to produce it.
Karl Marx - Investopedia
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