law of value

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law of value

(MARXISM) the doctrine that a fall in the amount of labour embodied in a commodity as the result of technical change in the production process will bring about a reduction in the price or VALUE of a commodity, or will strongly tend to. This is a consequence of the acceptance of the LABOUR THEORY OF VALUE by Marx, who adopted this position from Ricardo. See ORGANIC COMPOSITION OF CAPITAL, TENDENCY TO DECLINING RATE OF PROFIT.
References in periodicals archive ?
In commenting on student-run journals, the authors noted that "[t]he pedagogic value of law journal courses cannot be assumed" (1) and wrote that:
Maulana FazluRehman Khalil said that America carries out drone attacks and violates the borders and interferes into other countries, there is no value of law, constitution and moralities in America and has become the contractor of the whole world, no one has given this right to America to take decision of the world and to impose restrictions on the citizens of other countries.
What could better speak to the value of law librarians?
The book has five parts: articles that address how a student might prepare for the law school decision; the law school admissions test (LSAT); the value of law school rankings; discussion about how the recent recession has negatively impacted the job market for new attorneys; and scholarship on the experience of attending law school.
This is not acceptable in a modern democracy where the value of law and order should be considered priceless.
Joe Negron, R-Stuart, chair of the House committee that oversees judicial spending, and a lawyer for 17 years, said, "I know firsthand of the value of law libraries.
The first of four resources guides in the AALL's "Law Library Insights" series, the guide is designed to educate court administrators at state, court and county law libraries about the value of law librarians.
Our leaders proclaim the value of law and democracy as they spurn the UN Security Council and ignore the World Court when their rulings don't suit them.
Next, Roger Brownsword discusses the multi-dimensional educational value of law schools, even for those who never practice.
Ward, who spends six chapters and 150 pages of his book demonstrating the value of law in literature as a critical methodology, seems completely uninterested in developing the heuristic potential of law as literature in a similar manner.