価か値ち法ほう則そく

noun

law of value

Economic term from Marxist theory; refers to the principle that the value of a commodity is determined by the socially necessary labor time required to produce it.

• マルクス経けい済ざい学がくでは、価か値ち法ほう則そくが商しょう品ひんの交こう換かん比ひ率りつを説せつ明めいする。

  In Marxian economics, the law of value explains the exchange ratios of commodities.