Karl Heinrich Marx was a German philosopher, economist, historian, sociologist, political theorist, journalist and socialist revolutionary. Like the other classical economists, Karl Marx believed in the labor theory of value to explain relative differences in market prices. This theory stated that the value of a produced economic good can be measured objectively by the average number of labor-hours required to produce it.
You will find background story whilst make you understand the theory of Marx in this third edition Karl Marx Biography.
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