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Marx’s Economic Analysis
Theory of Surplus Value
Marx’s theory of surplus value proposed that the surplus product (surplus value) remains in the whole social product (net national income) after the production classes (workers) received their compensation (wages) (Mendel n. p.). According to Marx in his theory of classes, it is the ruling class (capitalists and politicians) who appropriates the surplus value that can be found in three different forms: (a) unpaid surplus labor (slave mode of production); (b) goods directly used (product of surplus labor), and; (c) cash.
Fetishism of the Commodity
Created for commodity ...