OUTLINES OF SOCIALIST ECONOMIC THEORY
The sociological viewpoint pervades all Marx's work--Commodities
defined--Use-values and economic values--Exchange of commodities
through the medium of money--The labor theory of value in its
crude form--Marx and Benjamin Franklin--Some notable statements by
the classic economists--Scientific development of the labor theory
of value by Marx--"Unique values"--Price and value--Money as a
price-expression and as a commodity--The theory of supply and
demand as determinants of value--The "Austrian" theory of final
utility as the determinant of value--The Marxian theory not
necessarily exclusive of the theory of final, or marginal,
utility--Labor-power as a commodity--Wages, its price, determined
as the prices of all other commodities are--Wherein labor-power
differs from all other commodities--"Surplus Value": why Marx used
the term--The theory stated--The division of surplus value--No
moral judgment involved in the theory--Other theories of the
source of capitalist income--Wherein they fail to solve the
problem--Fundamental importance of the doctrine 235