Part 7/8:
The Shift from Utility to Marginal Utility
A clear distinction arises when contrasting Marxian value theory with neoclassical economic theory, particularly the concept of marginal utility. In the neoclassical view, utility is subjective, varying based on individual preference, while Marx’s classical approach views utility as objective—dependent on the use's essential function rather than the subjective feelings it incites.
This divergence highlights the ideological underpinnings that separate Marx from contemporary economic thought. As global capitalism has evolved, the interplay of these concepts remains critical—fueling discussions on how products derive meaning in an increasingly commodified society.