Correct option is D
The correct answer is: (D) Karl Marx
Explanation:
The concept of "Crystallized Labor" was introduced by Karl Marx. He used this term to describe how labor is embodied in commodities. In his work "Das Kapital", Marx explained that the value of a commodity is determined by the amount of socially necessary labor time required to produce it.
He referred to the value embedded in the commodity as "crystallized" or "congealed" labor.
Information Key Points:
"Crystallized Labor" means labor that is embodied in a commodity.
This concept is part of Marx's Labor Theory of Value.
Marx believed that all economic value in commodities arises from human labor.
This idea critiques how capitalism exploits labor by not compensating the worker fully for their contribution.
Knowledge Booster:
Marshall (A): Alfred Marshall was a neoclassical economist known for his work on supply and demand, price elasticity, and marginal utility.
Keynes (B): John Maynard Keynes developed Keynesian economics, focusing on aggregate demand, employment, and government intervention in the economy.
Mill (C): John Stuart Mill contributed to utilitarianism and classical economics, especially focusing on liberty, individual rights, and utilitarian ethics.
English
30 Questions
30 Marks
27 Mins
