The Average Unit Of Labor In The World And The Law Of International Value

Also known as the world's average necessary labor time.

Refers to the labor time needed to produce certain use value under the current production conditions of the world economy under the average labor proficiency and labor intensity in the world.

In the world market, people only recognize the necessary labor time in the world, and the national value formed by individual countries over the world's necessary labor hours is not recognized by the international community, and the labor that exceeds the necessary labor time in the world, which can not be regarded as the labor of normal quality in the world, nor can it be formed.

Therefore, the countries whose national value is higher than international value will be at a disadvantage in the international exchange office, while the countries whose national value is lower than international value will be in a favorable position in international exchange and international competition.

The law of international value is the basic rule of commodity production and commodity exchange in the international scope.

Its basic content is that the value of goods in the international market is determined by the necessary labor time of the international community that produces the goods, and the exchange of commodities is based on the international value of commodities, and the exchange of goods is carried out equally.