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Shop talks on economics
Image 19
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Marcy, Mary, 1877-1922. Shop talks on economics - Image 19. 1911. Special Collections, University of Houston Libraries. University of Houston Digital Library. Web. September 23, 2017. http://digital.lib.uh.edu/collection/scpamp/item/892/show/842.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Marcy, Mary, 1877-1922. (1911). Shop talks on economics - Image 19. Socialist and Communist Pamphlets. Special Collections, University of Houston Libraries. Retrieved from http://digital.lib.uh.edu/collection/scpamp/item/892/show/842

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Marcy, Mary, 1877-1922, Shop talks on economics - Image 19, 1911, Socialist and Communist Pamphlets, Special Collections, University of Houston Libraries, accessed September 23, 2017, http://digital.lib.uh.edu/collection/scpamp/item/892/show/842.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

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Compound Item Description
Title Shop talks on economics
Creator (LCNAF)
  • Marcy, Mary, 1877-1922
Publisher Charles H. Kerr & Company
Place of Creation (TGN)
  • Chicago, Illinois
Date 1911
Subject.Topical (LCSH)
  • Economics
  • Socialism
  • Marxian economics
Genre (AAT)
  • pamphlets
Language English
Type (DCMI)
  • Text
Original Item Extent 58, [6] pages; 18 cm.
Original Item Location HX86.M3 1911
Original Item URL http://library.uh.edu/record=b8304396~S11
Original Collection Socialist and Communist Pamphlets
Digital Collection Socialist and Communist Pamphlets
Digital Collection URL http://digital.lib.uh.edu/collection/scpamp
Repository Special Collections, University of Houston Libraries
Repository URL http://libraries.uh.edu/branches/special-collections
Use and Reproduction This item is in the public domain and may be used freely.
File Name index.cpd
Item Description
Title Image 19
Format (IMT)
  • image/jpeg
File Name uhlib_3783716_018.jpg
Transcript SHOP TALKS ON ECONOMICS 17 f "A commodity has value, because it is a crystaliza- tion of social labor. . . . The relative values of commodities are, therefore, determined by the respective quantities or amounts of labor worked up (or contained) in them." (Pages 56 and 57, Value, Price and Profit.) "In calculating the exchangeable value of a commodity we must add to the quantity of labor last employed, the quantity of labor previously worked up in the raw material of a commodity, and the labor bestowed in the implements, tools, machinery, and buildings, with which labor is assisted." (Value, Price and Profit, page 60.) The value of barrels, for example, is determined by the social (factory) labor spent in producing staves and hoops and the labor time used in producing the portion of machinery worn out in making them, as well as the necessary social labor spent in cutting and hauling (producing) raw logs for use in the mill. Every time more social labor is needed in making commodities—shoes, hats, gloves, stoves or cigars— whatever these commodities may be—their value is increased. Every time the quantity of socially necessary labor is lessened in the production of commodities, their value is decreased. Nearly all kinds of furniture have greatly decreased in value the past few years owing to the improved machines used in their production and the relatively small quantity of labor contained in furniture.