Vol. I, Ch. 1, Sec. 1
Defines the magnitude of value by 'the labour-time socially necessary for its production.'
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From Capital, Volume 1 by Karl Marx
Value is determined by socially necessary labor-time; Marx distinguishes concrete useful labor (producing use-values) from abstract human labor (producing value).
Vol. I, Ch. 1, Sec. 2
Twofold character of labor embodied in commodities: concrete vs abstract labor, a distinction Marx calls 'the pivot on which a clear comprehension of Political Economy turns.'
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