1. Marxist Economics
Commodities are defined as an object outside of us, a thing that by its properties satisfies human wants of some sort or another (Miliband, R. 243). ... Marx defined value as "consumed labor time", and stated that "all goods, considered economically, are only the product of labor and cost nothing except labor"(Parekh, B. 386). ... Impact Analysis The major impact of Marxism is Communism. Communism had its greatest affect on the world during the early 1900's. ... Communist counties are in the red and the Ideal communism is in the yellow. ...
- Word Count: 2126
- Approx Pages: 9
- Grade Level: High School