This edition of Lecture Notes on Economics and Politics presents a concise framework for understanding how goods and services gain value, how production happens, and how natural forces and human effort interact to create wealth. It emphasizes ideas like value as a relation of mutual purchase, production as creation of value, and the central role of labor and capital in economic change.

Learn the core definitions of value, price, and the law of value, and how exchange establishes worth.
See how production is defined and why reforming production affects wealth and society.
Explore the elements of production—natural agents, labor, and capital—and how they interact.
Understand applications to consumption, public needs, and broad economic laws that guide economies.

Ideal for readers seeking a compact, classroom-friendly primer on early economic theory and its practical implications for markets, policy, and everyday choice.

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