If you can, what do you think Karl Marx and Adam SMith think of
-Navy Pier
-Stock market
-salvation army
-the chicago tribune headquaters
Please think using their phiosophys.
Philosophy of Adam smith: the price of a good or service is determined by supply and demand for that particular good or service. If a man works 15 years to make a product it would still be worthless if nobody wants it.
Karl Marx-the value of a product is determined only by the labor of the worker who puts in his effort to create the good or service. This is called the Labor Theory of Value. Since land should be free and equally accessible to everyone and every capital good (machinery, etc) is ultimately a product of labor, Labor is the only factor of prodcution that determines value
2006-11-18
06:50:15
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1 answers
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Anonymous
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Education & Reference
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