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What Characteristic Features of Capitalism Provide the Setting for the LTV?

April 26, 2017capitalism Characteristic features LTV setting

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What Characteristic Features of Capitalism Provide the Setting for the LTV?

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The LTV applies to commodities produced and sold in capitalist societies. Commodities have both use values and exchange values. Value, in Marx’s view, is abstract labor time. The accumulation of exchange values as an end in itself distinguishes capitalism from simple commodity production.