This is the theory that prices tend toward proportionality to the socially necessary labor embodied in a commodity.

One coat and twenty yards of linen take the same amount of socially necessary labor time to make, so they have the same value.

This is because the yarn still holds 12 hours of socially necessary labor time in it (equivalent to six dollars).

Simply put, the socially necessary labour requirements set limits for the movements of product prices.

Commodities which contain the same amount of socially necessary labor have the same exchange value.

The difference between the value of a society's annual product and its socially necessary cost of production.

What's the best way to go about this unpleasant but socially necessary task while avoiding razor burn?

I'm not even sure it's socially necessary to dress like an adult anymore.

Moreover, when the state fails to invest in key resources, this creates opportunity costs with respect to "socially necessary" or world competitive infrastructure investments.

"Whose responsibility is it when a commercial company doesn't provide for things that are socially necessary in the public realm?"