The essence of Karl Marx's theory of value is that:
A) the proletariat will eventually rise and overthrow the capitalistic system.
B) the value of any commodity is determined by the amount of labor time used in its production.
C) all great political, social, intellectual, and ethical changes are based on the organization of economic systems.
D) the surplus value that belongs to capitalists is stolen by workers in order to expand and perpetuate the capitalistic system.

Question

Quizplus · Accepted Answer

Marx's theory of value is based on the labor theory of value, which states that the value of any commodity is determined by the amount of labor time used in its production. According to Marx, labor is the source of all value, and capitalist exploitation of labor is the root cause of class conflict and inequality in society. Marx believed that the proletariat would eventually rise up and overthrow the capitalist system, leading to a more equal and just society. However, this is not the essence of his theory of value.

The Essence of Karl Marx's Theory of Value Is That