In the opening chapters of Capital, Marx begins with the commodity and grapples with a qualitative value question AND a quantitative value question. Alternatively, he distinguishes between use value and exchange value. He also, however, identifies labour with value and the duration of socially necessary abstract labour time with values magnitude. Your essay should first explain the difference between use and exchange value and then explain (the much more important) distinction between exchange value (or, price) and value (understood in the sense just described, i.e., as socially necessary abstract labour time). 3. In the opening chapters of Capital, Marx carefully differentiates between useful/concrete labour and abstract labour. Explain this distinction and explain why it is important to Marx's theoretical project. Explain how it is that labour is involved in the constitution of value and what transformation of labour is required to find the standard/measure of value.
In the opening chapters of Capital, Marx begins with the commodity and grapples with a qualitative value question AND a quantitative value question. Alternatively, he distinguishes between use value and exchange value. He also, however, identifies labour with value and the duration of socially necessary abstract labour time with values magnitude. Your essay should first explain the difference between use and exchange value and then explain (the much more important) distinction between exchange value (or, price) and value (understood in the sense just described, i.e., as socially necessary abstract labour time). 3. In the opening chapters of Capital, Marx carefully differentiates between useful/concrete labour and abstract labour. Explain this distinction and explain why it is important to Marx's theoretical project. Explain how it is that labour is involved in the constitution of value and what transformation of labour is required to find the standard/measure of value.
