Karl Marx – 10 – The Poverty of Philosophy Pt 1

Answer to the Philosophy of Poverty by M. Proudhon. That is the subtitle to this book. Marx also brought up the Ricardo's theory of labor, capital, value, etc., When the supply and demand question arises, capitalists reduce the value of labor capital to meet their expenses and increase the profits. The value which produced by the employee to the employer on the final product to be measured. Labor value strictly noted and paid later. The capitalist should gather the new demand of products. To prove their quantity levels, capitalists should not decrease the labor's salaries.

Evaluation of goods are important. In the world market, the product prices might goes rise or down. The product should be valued correctly and the demand keep its price. While economists should take care of exchange-value of the products. There is a difference between exchange-value and use value. The exchange-value product falls if supply increases, the demand remains the same. One have the find the unique product which can meet demand that will be a great product.

Since buyer has a free will to buy the products, seller has the free will to sell the products is that utility or value produced? Marx asked the question on Proudhon's thesis. Utilities might not the right answer to the market, estimated value to the products are important. While buyer needs and requirements will be change day to day. To provide the greater opportunity to buy the buyers products, the value to be provided to the products. Unique values will create the market for itself, it find their frequent buyers itself.

The value of the killed dear, is equal to hunter's day labor. Comparatively the commodity's labor price should be included in output price. If quantities are equal, one man's labor is worth of another man's labor. There is no qualitative difference. Certain quantity of labor embodied in a product is equivalent to the worker's payment, that is, to the value of labor. What are wages? They are the value of labor.

Value Is the proportional relation of the products which constitute wealth. Till now productive forces have been developed by virtue of this system of class antagonisms. Ages made to produce our needs easier. Huge volumes of products often depreciating the labor's value. Overproduction, depreciation, excess of labor followed by unemployment.