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Labor Theory of Value
An economic theory, most closely associated with Karl Marx, which posits that the value of a commodity is determined by the socially necessary labor time required for its production.
Exchange Value
The worth of a good or service determined by what it can be traded or exchanged for in the market.
Use Value
The utility of a good or service for satisfying a need or providing a benefit to the user, as opposed to its exchange value or price.
Emancipatory Subject
An individual or collective agent engaged in actions and discourses aiming at liberation from oppressive conditions or structures.
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