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The original was posted on /r/thedeprogram by /u/readySponge07 on 2025-08-07 01:10:55+00:00.
Apologies for the basic question. I am left-leaning (social democrat) and currently learning about Marxism and Marxism-Leninism.
I know that Marxism differentiates between value (socially necessary labour-time required to produce something) and price (exchange rate in a market), but what I am wondering specifically is whether Marxists agree with neoclassical economists that supply and demand determine prices (not objective value) in the capitalist mode of production.
On a second and somewhat related point, if the answer to the first question is yes, then what is the Marxist response to the most common neoclassical critique of price controls- which is that they cause shortages?