Dean Kenning

Chapter 1: The Commodity

Page 129

A use-value, or useful article, therefore, has value only because abstract human labour is objectified or materialized in it. How, then, is the magnitude of this value to be measured? By means of the quantity of the 'value-forming substance', the labour, contained in the article. This quantity is measured by its duration, and the_ labour-time is itself measured on the particular scale of hours, days etc.