The law of value is a central concept in Karl Marx‘s critique of political economy, first expounded in his polemic The Poverty of Philosophy (1847) against Pierre-Joseph Proudhon, with reference to David Ricardo‘s economics. Most generally, it refers to a regulative principle of the economic exchange of the products of human work: the relative exchange-values of those products in trade, usually expressed by money-prices, are proportional to the average amounts of human labor-time which are currently socially necessary to produce them. Thus, the fluctuating exchange value of commodities (exchangeable products) is regulated by their value, where the magnitude of their value is determined by the average quantity of human labour which is currently socially necessary to produce them (see labor theory of value and value-form). In itself, this theorem is fairly simple to understand, and intuitively it makes sense to many working people. Theorizing its implications is, however, a much more complex task; it kept Marx busy across more than two decades.
Beliefs: The clearer you are about what you value and believe in, the happier and more effective you will be. Beliefs are the assumptions we make about ourselves, about others in the world and about how we expect things to be. Beliefs are about how we think things really are, what we think is really true and what therefore expect as likely consequences that will follow from our behavior. According to Jemie Smart, an NLP guru, you can model beliefs as ‘feed-forward’ mechanisms that sort and filter data in order to prove themselves to be true. Beliefs are valuable resources, generalizations that people use to give themselves a sense of certainty and a basis for decision-making in an uncertain and ambiguous world.
Values: Are the beliefs you put to test. The Law of Value, is a law of success in life. Your true worth is determined by how much more you give in value than you take in payment.” Now, this may seem like a paradox, you may be thinking that this is a recipe for bankruptcy, but the key to this law is really understanding what value is. Price is not the same thing as value. We are not giving more than we receive in payment, but we are adding more value to people that we serve. It is not a strategy to in turn get more from the people we serve but it is the opposite because it comes from a deep desire to really make a difference in the lives of those around us. We can not view it as a formula for success but instead a way of life. – See more at: http://www.imasocialentrepreneur.com/go-giver-law-value/#sthash.gIcFQlAQ.dpuf