Quotes by Rudolf Hilferding - Page 1

The object of the law of value is to elucidate the actual exchange relations of commodities.
Rudolf Hilferding / Economist
Actual
Commodities
Exchange
Object
Relations
Value
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For in the theoretical field bourgeois economics no longer engages in blithe and joyous fights.
Rudolf Hilferding / Economist
Bourgeois
Economics
Fields
Fighting
Joyous
Theoretical
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The publication of the third volume of Capital has made hardly any impression upon bourgeois economic science.
Rudolf Hilferding / Economist
Bourgeois
Economic
Impression
Made
Publication
Volume
Capital
Hardly
Third
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Value manifests itself as exchange value, as a quantitatively determined relationship, in virtue of the fact that one commodity can be exchanged for another.
Rudolf Hilferding / Economist
Commodity
Determined
Virtue
Exchange
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Value is consequently the necessary theoretical starting point whence we can elucidate the peculiar phenomenon of prices resulting from capitalist competition.
Rudolf Hilferding / Economist
Capitalist
Competition
Peculiar
Phenomenon
Starting
Starting Point
Theoretical
Consequently
Prices
Resulting
Whence
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The expansion of the market creates a need for enhanced and more regular supply, and this in turn impels commercial capital to acquire control of production as well.
Rudolf Hilferding / Economist
Acquire
Expansion
Capital
Commercial
Creates
Enhanced
Production
Market
Supply
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It is obvious, moreover, that the formation of price in capitalist society must differ from the formation of price in social conditions based upon the simple production of commodities.
Rudolf Hilferding / Economist
Capitalist
Conditions
Formation
Obvious
Social Conditions
Capitalist Society
Commodities
Differ
Moreover
Price
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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.
Rudolf Hilferding / Economist
Concerned
Aggregate
As Far As
Commodities
False
Marx
Solely
Therefore
Utterly
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Since, however, the reduced surplus value is to be distributed among them in like manner, the modification of their respective parts in the production of surplus value must find expression in a modification of the prices.
Rudolf Hilferding / Economist
Modification
Surplus
Distributed
Manner
Parts
Prices
Reduced
Respective
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As soon, however, as capitalist competition has definitively established the equal rate of profit, that rate becomes the starting point for the calculations of the capitalists in the investment of capital in newly-created branches of production.
Rudolf Hilferding / Economist
Branches
Calculations
Capitalist
Competition
Equal
Investment
Rate
Starting Point
Established
Becomes
Capital
However
Production
Soon
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But whether, for example, a coat can be exchanged for twenty yards of linen cloth or for forty yards is not a matter of chance, but depends upon objective conditions, upon the amount of socially necessary labor time contained in the coat and in the linen respectively.
Rudolf Hilferding / Economist
Conditions
Depends
Forty
Labor
Yards
Cloth
Coat
Contained
For Example
Objective
Respectively
Socially
Twenty
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Rudolf Hilferding Quotes - Page 1

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