Finding:

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   Karl Marx

   Value, Price and Profit, 1865 ... Franz Mehring's Karl Marx: The Story of His Life
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   Labor theory of value

   Other supporters of the labor theory of value used the word "value" in the second sense, to represent "exchange value". ... ↑ Marx, Karl (1865).
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   Capital, Volume I

   However, value does not mean anything unless it conjoins back to use value. ... Karl Marx examined surplus value and showed it to be a necessity in capitalism.
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   Surplus value

   So to assess profit volume or profitability, really the problem has to be looked at using a variety of different measures and a variety of difference sources (national accounts data, tax data, direct surveys, company reports and circumstantial evidence). ... Thus Marx's view that economic value is a human attribution or comparison, and that only human labour can conserve, transfer and create value is rejected.
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   Law of value

   The law of value is a concept in Karl Marx's critique of political economy. ... However, many prices are not objective either - they are only ideal prices used for the purpose of calculation, accounting and estimation, not actually charged or applying directly to anything real.
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   Organic composition of capital

   The organic composition of capital (OCC) is a concept created by Karl Marx in his critique of political economy and used in Marxian economics as a theoretical alternative to neo-classical concepts of factors of production, production functions, capital productivity and capital-output ratios. ... Others see this "problem" (the development of a mathematical relationship between prices and labor-values) as a false one, rejecting the idea that Marx aimed to use his labor theory value to understand relative prices.
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   Transformation problem

   The quantitative aspects of Marx's value and price theories—which include the transformation problem—can thus be expressed in the mathematical language of such models: see Samuelson (1971). ... First, the condition that total “profit” must equal total surplus value – in the last row of table 2 – is used to determine r. The result is then multiplied by the value of the constant capital of each industry, to get its “profit”.
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   Prices of production

   This price reflects the sale of output at producers' prices which reflect an average profit rate on capital invested that applies to various different sectors (this is the fully formed production price Marx most often has in mind in his theoretical discussions). ... The wealth of capitalist society might present itself as "a mass of commodities" (as Marx himself put it), but before and after the commodities were sold, they existed outside the market as use values.
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   Influences on Karl Marx

   Hegel's dialectical method, which was taken up by Karl Marx, was an extension of the method of reasoning by “antinomies” that Kant used. ... In 1844-5, when Marx was starting to settle his account with Hegel and the Young Hegelians in his writings, he critiqued the Young Hegelians for limiting the horizon of their critique to religion and not taking up the critique of the state and civil society as paramount.
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    Marxism

    The Labour theory of value is no longer accepted by modern economists, with the ideas of marginal utility being used instead. ... Karl Marx

Explore the following pages on Powerset:

• Karl Marx,
• Labor theory of value,
• Capital, Volume I,
• Surplus value,
• Law of value,
• Organic composition of capital,
• Transformation problem,
• Prices of production,
• Influences on Karl Marx,
• Marxism