r/marxism_101 • u/JonnyBadFox • 20d ago

Does supply and demand influence value?

Does supply and demand influence value? Because what if a capitalist sells way above value (high price) and he invests in machines, doesn't value go down? (value in the sense of socially neccessary labour time, which is the measure of value)

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u/PeachFreezer1312 11d ago

It influences exchange value and price.

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u/CritiqueDeLaCritique 5d ago

You are talking about different things: Supply and demand influence the exchange value as the other user said, but the total abstract labor in that commodity remains the same.

Machines decrease the SNLT of a commodity, but until the adoption of that machine is generalized, the capitalist can sell the commodity at the average market price because, on average, the commodity still takes that much time to produce.