Rudolf Hiferding

It is obvious, moreover, that the formation of price in capitalist society must differ from the formation of price in social conditions based upon the simple production of commodities. ↗

— Rudolf Hiferding

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It is therefore utterly false to say that Marx revokes the law of value as far as individual commodities are concerned, and maintains it in force solely for the aggregate of these commodities. ↗

— Rudolf Hiferding

#as far as #commodities #concerned #false #far

The expansion of the market creates a need for enhanced and more regular supply, and this in turn impels commercial capital to acquire control of production as well. ↗

— Rudolf Hiferding

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The object of the law of value is to elucidate the actual exchange relations of commodities. ↗

— Rudolf Hiferding

#commodities #elucidate #exchange #law #object

Value is consequently the necessary theoretical starting point whence we can elucidate the peculiar phenomenon of prices resulting from capitalist competition. ↗

— Rudolf Hiferding

#competition #consequently #elucidate #necessary #peculiar

Value manifests itself as exchange value, as a quantitatively determined relationship, in virtue of the fact that one commodity can be exchanged for another. ↗

— Rudolf Hiferding

#commodity #determined #exchange #exchanged #fact