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 Quotes
The object of the law of value is to elucidate the actual exchange relations of commodities.
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| Birth: | 10th August, 1877 |
| Death: | 11th February, 1941 |
| Nationality: | Austrian |
| Profession: | Economist, Journalist, Physician |
About
Rudolf Hilferding was an Austrian-born Marxist economist, leading socialist theorist, politician and chief theoretician for the Social Democratic Party of Germany during the Weimar Republic, almost universally recognized as the SPD's foremost theoretician of his century, and a physician.
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