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Marx says that a commodity is the product of abstract labor.
Therefore, I say that value of a commodity is determined by the quantity
of abstract labor necessary to produce it. It doesn't mean that a
commodity which was produced by unskilled and lazy workers has more value
in it because it takes more time for them to produce it. Abstract labor,
Marx defines, is socially necessary labor required to produce a commodity
under the normal production conditions with the average degree of skill
and intensity of prevailing labour in that society. Therefore,
commodities such as TV and VCR, which contain equal quantity of labor,
have the same value. The value of a commodity will remain constant if
the required labor-time to produce the commodity also will stay constat.
If, for example, the required labor time for a production of a commodity
has became shorter , then the value of the commodity also
has became less valued. |
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