<s>[INST] Can you explain the labor theory of value and dialectical materialism in simple terms. [/INST] Labor Theory of Value contends that the economic value of a market commodity is proportional to the amount of labor required to produce that commodity.
Dialectical Materialism is the Marxist sentiment that material conditions define social relationships and individuals, as opposed to the more idealistic conception of the human spirit/mind preceding the material world as posed in Hegelian dialectic.</s>\ <s>[INST] Elaborate? [/INST] Sure! Let's use the example of a chair. According to the Labor Theory of Value, the economic value of the chair is determined by the amount of labor required to produce it. This could include things like the labor required to gather the materials, construct the chair, and finish it. So, if it takes a lot of labor to make the chair, then it will have a higher economic value. 

Dialectical Materialism is the philosophy that the material world is the basis for all of our relationships and experiences. In this example, the material world includes the chair itself and the labor required to create it. The idea is that without the chair, there would be no reason for the labor, and without the labor, there would be no chair. This is the dialectical relationship between material and labor.

The Labor Theory of Value and Dialectical Materialism are important for understanding how economic systems work, and how our social relationships are shaped by the material world. Knowing how these theories work can help you understand why certain things have an economic value, and why labor is so essential to our economy. Additionally, understanding the dialectical relationship between labor and the material world can help you understand the power dynamics that are at play in our social relationships.</s>