![]() He must work for the capitalist a certain number of hours and, in that time, he expends labor, the source of value. ![]() But, in return for paying this amount, the capitalist employer obtains the worker's labor power. This applies to labor as well: the value of labor depends on how much labor is required to keep a laborer alive and able to work. The value of a commodity under capitalism depends on the socially necessary time required to produce it. Marx claimed that he had discovered the "law of motion" of capitalism, just as Newton had discovered the laws of motion in physics. ![]() 3)Įconomics of course lies at the heart of Marxism, and Mises expertly exposes Marx's key errors. ![]() That means, 'I know, but I can't explain it'. No materialist philosopher ever fails to use the word "simply". ![]()
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