Answered: 1. Explain Marx's "Theory of Alienation…

1. Explain Marx's "Theory of Alienation "and why he considers labor a commodity and not a factor of production. 2. Discuss Marx's "Theory of Exploitation" and the creation of surplus-value.

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter18: The Markets For The Factor Of Production

Section: Chapter Questions

Problem 2QCMC

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1. Explain Marx's "Theory of Alienation "and why he considers labor a commodity and not a factor of production.

2. Discuss Marx's "Theory of Exploitation" and the creation of surplus-value.

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