Aggregate Quote by Rudolf Hiferding
“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.”
About This Quote
Marx never abandoned the law of value for individual goods; he kept it for the total market of commodities.
In simple terms: Marx’s law of value applies to aggregates, not single items.
Key Takeaway
Value law is aggregate, not individual.
Themes
Marxist economics
value theory
commodity exchange
aggregate analysis
Mood
analytical
critical
Type
theoretical
explanatory
When to use this quote
- academic debate on Marxist theory
- economic textbook explanations
- lecture on value theory
Key Concepts
law of value
commodity
aggregate
marxist theory
Practical Applications
- teaching Marxist economics
- writing scholarly articles
Questions to Reflect On
- How does the aggregate view affect price formation?
- What implications does this have for micro‑economic analysis?
