Value manifests itself as exchange value, as a quantitatively determined relationship, in virtue of the fact that one commodity can be exchanged for another.
As soon, however, as capitalist competition has definitively established the equal rate of profit, that rate becomes the starting point for the calculations of the capitalists in the investment of capital in newly-created branches of production.
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Comments on: "Rudolf Hilferding Quotes: As soon, however, as capitalist competition has definitively established the equal rate of..."
|Birth:||10th August, 1877|
|Death:||11th February, 1941|
|Profession:||Economist, Journalist, Physician|
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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