Marx argued that the value of a commodity is determined by the labor time socially necessary for its production. However, Marx also had to acknowledge that in the real world, prices deviate from values based on the organic composition of capital (the ratio of machinery to labor).
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Every time you hear a politician promise "free" housing, "free" healthcare, or a "living wage" divorced from productivity, remember the Böhm-Bawerkian trap. Marx argued that the value of a commodity
Essentially, people value a "good" (like money or a loaf of bread) more highly today than they do in the future. To get someone to delay their consumption, you have to offer them more in the future—that "extra" is interest. The "Free" Market and Capital Every time you hear a politician promise "free"