economic analyses – chapter 4 karl marx. capitalism capitalism contains seeds of its own...
TRANSCRIPT
ECONOMIC ANALYSES ndash CHAPTER 4
KARL MARX
CAPITALISM
bull Capitalism contains seeds of its own destruction
bull Focus on profits Unemployment
bull Class consciousness
bullRevolution (social change)
3
BASEmdashSUPERSTRUCTURE RELATIONSHIP
Ideological Superstructurereligion politics the state culture art the family
Economic Base(eg Feudalism capitalism communism)
CAPITALIST SUPERSTRUCTURE
BASE AND SUPERSTRUCTURE
bullRelationship of superstructure and base
bullDialectical
bull Interdependent
COMMODITIES
bullCore element of capitalism
bullMarx defined commodities as
bullExternal objects
bullCapable of satisfying human needs
THE VALUE OF COMMODITIES
bullTwo features
1 Use-value Function of actual physical properties of a commodity
bullPurpose to which it can be put
THE VALUE OF COMMODITIES
2 Exchange-valuebullWorth relative to other commodities
bullModern societies Exchange-value expressed in monetary terms (money)
THE VALUE OF COMMODITIES
commodity ndash noun1 A thing that exists ldquooutside of usrdquo that we
exchange for something we want or need2 Something with use-value and exchange-value
USE VALUE
=
=
Protect your feet when walking =
$65 or $20
=
(Of little use to the capitalist)
(Potential profits for the capitalist)
EXCHANGE VALUE
THE VALUE OF COMMODITIES
bullCapitalism
bullAlmost all production is directed at exchange-value rather than use-value
bullExchange value Surplus value
THE VALUE OF COMMODITIES
bull Surplus value= Profit
bull Exchange value minus production costs
bull Labor theory of valuebull Exchange value determined by labor
time required for production
CAPITALISM amp COMMODITIES
bullCapitalism Surplus value (profit)
bull Dependent on individuals wanting more and more products
bullTo Generate profitbull Expand markets
bull Sell more commodities
bull Commodification
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange--Barter
bull Economies became more complex and money was introduced
bull Stages
bull People moved from role of buyer to seller
and back again = Circulation of Commodities
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
ACCUMULATION OF CAPITAL
bullCapital=Wealth in the form of money or other assets
bullFor particular purposebull Starting a company
bull Investing
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull Money spent Use-value to purchaserbull Commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull M-C-M MoneyCommodities Money
bull Motivating force is exchange value rather than use-value
bull Result bull Worthless productsbull Dangerous productsbull Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
CAPITALISM
bull Capitalism contains seeds of its own destruction
bull Focus on profits Unemployment
bull Class consciousness
bullRevolution (social change)
3
BASEmdashSUPERSTRUCTURE RELATIONSHIP
Ideological Superstructurereligion politics the state culture art the family
Economic Base(eg Feudalism capitalism communism)
CAPITALIST SUPERSTRUCTURE
BASE AND SUPERSTRUCTURE
bullRelationship of superstructure and base
bullDialectical
bull Interdependent
COMMODITIES
bullCore element of capitalism
bullMarx defined commodities as
bullExternal objects
bullCapable of satisfying human needs
THE VALUE OF COMMODITIES
bullTwo features
1 Use-value Function of actual physical properties of a commodity
bullPurpose to which it can be put
THE VALUE OF COMMODITIES
2 Exchange-valuebullWorth relative to other commodities
bullModern societies Exchange-value expressed in monetary terms (money)
THE VALUE OF COMMODITIES
commodity ndash noun1 A thing that exists ldquooutside of usrdquo that we
exchange for something we want or need2 Something with use-value and exchange-value
USE VALUE
=
=
Protect your feet when walking =
$65 or $20
=
(Of little use to the capitalist)
(Potential profits for the capitalist)
EXCHANGE VALUE
THE VALUE OF COMMODITIES
bullCapitalism
bullAlmost all production is directed at exchange-value rather than use-value
bullExchange value Surplus value
THE VALUE OF COMMODITIES
bull Surplus value= Profit
bull Exchange value minus production costs
bull Labor theory of valuebull Exchange value determined by labor
time required for production
CAPITALISM amp COMMODITIES
bullCapitalism Surplus value (profit)
bull Dependent on individuals wanting more and more products
bullTo Generate profitbull Expand markets
bull Sell more commodities
bull Commodification
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange--Barter
bull Economies became more complex and money was introduced
bull Stages
bull People moved from role of buyer to seller
and back again = Circulation of Commodities
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
ACCUMULATION OF CAPITAL
bullCapital=Wealth in the form of money or other assets
bullFor particular purposebull Starting a company
bull Investing
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull Money spent Use-value to purchaserbull Commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull M-C-M MoneyCommodities Money
bull Motivating force is exchange value rather than use-value
bull Result bull Worthless productsbull Dangerous productsbull Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
3
BASEmdashSUPERSTRUCTURE RELATIONSHIP
Ideological Superstructurereligion politics the state culture art the family
Economic Base(eg Feudalism capitalism communism)
CAPITALIST SUPERSTRUCTURE
BASE AND SUPERSTRUCTURE
bullRelationship of superstructure and base
bullDialectical
bull Interdependent
COMMODITIES
bullCore element of capitalism
bullMarx defined commodities as
bullExternal objects
bullCapable of satisfying human needs
THE VALUE OF COMMODITIES
bullTwo features
1 Use-value Function of actual physical properties of a commodity
bullPurpose to which it can be put
THE VALUE OF COMMODITIES
2 Exchange-valuebullWorth relative to other commodities
bullModern societies Exchange-value expressed in monetary terms (money)
THE VALUE OF COMMODITIES
commodity ndash noun1 A thing that exists ldquooutside of usrdquo that we
exchange for something we want or need2 Something with use-value and exchange-value
USE VALUE
=
=
Protect your feet when walking =
$65 or $20
=
(Of little use to the capitalist)
(Potential profits for the capitalist)
EXCHANGE VALUE
THE VALUE OF COMMODITIES
bullCapitalism
bullAlmost all production is directed at exchange-value rather than use-value
bullExchange value Surplus value
THE VALUE OF COMMODITIES
bull Surplus value= Profit
bull Exchange value minus production costs
bull Labor theory of valuebull Exchange value determined by labor
time required for production
CAPITALISM amp COMMODITIES
bullCapitalism Surplus value (profit)
bull Dependent on individuals wanting more and more products
bullTo Generate profitbull Expand markets
bull Sell more commodities
bull Commodification
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange--Barter
bull Economies became more complex and money was introduced
bull Stages
bull People moved from role of buyer to seller
and back again = Circulation of Commodities
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
ACCUMULATION OF CAPITAL
bullCapital=Wealth in the form of money or other assets
bullFor particular purposebull Starting a company
bull Investing
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull Money spent Use-value to purchaserbull Commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull M-C-M MoneyCommodities Money
bull Motivating force is exchange value rather than use-value
bull Result bull Worthless productsbull Dangerous productsbull Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
CAPITALIST SUPERSTRUCTURE
BASE AND SUPERSTRUCTURE
bullRelationship of superstructure and base
bullDialectical
bull Interdependent
COMMODITIES
bullCore element of capitalism
bullMarx defined commodities as
bullExternal objects
bullCapable of satisfying human needs
THE VALUE OF COMMODITIES
bullTwo features
1 Use-value Function of actual physical properties of a commodity
bullPurpose to which it can be put
THE VALUE OF COMMODITIES
2 Exchange-valuebullWorth relative to other commodities
bullModern societies Exchange-value expressed in monetary terms (money)
THE VALUE OF COMMODITIES
commodity ndash noun1 A thing that exists ldquooutside of usrdquo that we
exchange for something we want or need2 Something with use-value and exchange-value
USE VALUE
=
=
Protect your feet when walking =
$65 or $20
=
(Of little use to the capitalist)
(Potential profits for the capitalist)
EXCHANGE VALUE
THE VALUE OF COMMODITIES
bullCapitalism
bullAlmost all production is directed at exchange-value rather than use-value
bullExchange value Surplus value
THE VALUE OF COMMODITIES
bull Surplus value= Profit
bull Exchange value minus production costs
bull Labor theory of valuebull Exchange value determined by labor
time required for production
CAPITALISM amp COMMODITIES
bullCapitalism Surplus value (profit)
bull Dependent on individuals wanting more and more products
bullTo Generate profitbull Expand markets
bull Sell more commodities
bull Commodification
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange--Barter
bull Economies became more complex and money was introduced
bull Stages
bull People moved from role of buyer to seller
and back again = Circulation of Commodities
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
ACCUMULATION OF CAPITAL
bullCapital=Wealth in the form of money or other assets
bullFor particular purposebull Starting a company
bull Investing
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull Money spent Use-value to purchaserbull Commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull M-C-M MoneyCommodities Money
bull Motivating force is exchange value rather than use-value
bull Result bull Worthless productsbull Dangerous productsbull Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
BASE AND SUPERSTRUCTURE
bullRelationship of superstructure and base
bullDialectical
bull Interdependent
COMMODITIES
bullCore element of capitalism
bullMarx defined commodities as
bullExternal objects
bullCapable of satisfying human needs
THE VALUE OF COMMODITIES
bullTwo features
1 Use-value Function of actual physical properties of a commodity
bullPurpose to which it can be put
THE VALUE OF COMMODITIES
2 Exchange-valuebullWorth relative to other commodities
bullModern societies Exchange-value expressed in monetary terms (money)
THE VALUE OF COMMODITIES
commodity ndash noun1 A thing that exists ldquooutside of usrdquo that we
exchange for something we want or need2 Something with use-value and exchange-value
USE VALUE
=
=
Protect your feet when walking =
$65 or $20
=
(Of little use to the capitalist)
(Potential profits for the capitalist)
EXCHANGE VALUE
THE VALUE OF COMMODITIES
bullCapitalism
bullAlmost all production is directed at exchange-value rather than use-value
bullExchange value Surplus value
THE VALUE OF COMMODITIES
bull Surplus value= Profit
bull Exchange value minus production costs
bull Labor theory of valuebull Exchange value determined by labor
time required for production
CAPITALISM amp COMMODITIES
bullCapitalism Surplus value (profit)
bull Dependent on individuals wanting more and more products
bullTo Generate profitbull Expand markets
bull Sell more commodities
bull Commodification
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange--Barter
bull Economies became more complex and money was introduced
bull Stages
bull People moved from role of buyer to seller
and back again = Circulation of Commodities
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
ACCUMULATION OF CAPITAL
bullCapital=Wealth in the form of money or other assets
bullFor particular purposebull Starting a company
bull Investing
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull Money spent Use-value to purchaserbull Commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull M-C-M MoneyCommodities Money
bull Motivating force is exchange value rather than use-value
bull Result bull Worthless productsbull Dangerous productsbull Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
COMMODITIES
bullCore element of capitalism
bullMarx defined commodities as
bullExternal objects
bullCapable of satisfying human needs
THE VALUE OF COMMODITIES
bullTwo features
1 Use-value Function of actual physical properties of a commodity
bullPurpose to which it can be put
THE VALUE OF COMMODITIES
2 Exchange-valuebullWorth relative to other commodities
bullModern societies Exchange-value expressed in monetary terms (money)
THE VALUE OF COMMODITIES
commodity ndash noun1 A thing that exists ldquooutside of usrdquo that we
exchange for something we want or need2 Something with use-value and exchange-value
USE VALUE
=
=
Protect your feet when walking =
$65 or $20
=
(Of little use to the capitalist)
(Potential profits for the capitalist)
EXCHANGE VALUE
THE VALUE OF COMMODITIES
bullCapitalism
bullAlmost all production is directed at exchange-value rather than use-value
bullExchange value Surplus value
THE VALUE OF COMMODITIES
bull Surplus value= Profit
bull Exchange value minus production costs
bull Labor theory of valuebull Exchange value determined by labor
time required for production
CAPITALISM amp COMMODITIES
bullCapitalism Surplus value (profit)
bull Dependent on individuals wanting more and more products
bullTo Generate profitbull Expand markets
bull Sell more commodities
bull Commodification
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange--Barter
bull Economies became more complex and money was introduced
bull Stages
bull People moved from role of buyer to seller
and back again = Circulation of Commodities
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
ACCUMULATION OF CAPITAL
bullCapital=Wealth in the form of money or other assets
bullFor particular purposebull Starting a company
bull Investing
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull Money spent Use-value to purchaserbull Commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull M-C-M MoneyCommodities Money
bull Motivating force is exchange value rather than use-value
bull Result bull Worthless productsbull Dangerous productsbull Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE VALUE OF COMMODITIES
bullTwo features
1 Use-value Function of actual physical properties of a commodity
bullPurpose to which it can be put
THE VALUE OF COMMODITIES
2 Exchange-valuebullWorth relative to other commodities
bullModern societies Exchange-value expressed in monetary terms (money)
THE VALUE OF COMMODITIES
commodity ndash noun1 A thing that exists ldquooutside of usrdquo that we
exchange for something we want or need2 Something with use-value and exchange-value
USE VALUE
=
=
Protect your feet when walking =
$65 or $20
=
(Of little use to the capitalist)
(Potential profits for the capitalist)
EXCHANGE VALUE
THE VALUE OF COMMODITIES
bullCapitalism
bullAlmost all production is directed at exchange-value rather than use-value
bullExchange value Surplus value
THE VALUE OF COMMODITIES
bull Surplus value= Profit
bull Exchange value minus production costs
bull Labor theory of valuebull Exchange value determined by labor
time required for production
CAPITALISM amp COMMODITIES
bullCapitalism Surplus value (profit)
bull Dependent on individuals wanting more and more products
bullTo Generate profitbull Expand markets
bull Sell more commodities
bull Commodification
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange--Barter
bull Economies became more complex and money was introduced
bull Stages
bull People moved from role of buyer to seller
and back again = Circulation of Commodities
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
ACCUMULATION OF CAPITAL
bullCapital=Wealth in the form of money or other assets
bullFor particular purposebull Starting a company
bull Investing
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull Money spent Use-value to purchaserbull Commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull M-C-M MoneyCommodities Money
bull Motivating force is exchange value rather than use-value
bull Result bull Worthless productsbull Dangerous productsbull Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE VALUE OF COMMODITIES
2 Exchange-valuebullWorth relative to other commodities
bullModern societies Exchange-value expressed in monetary terms (money)
THE VALUE OF COMMODITIES
commodity ndash noun1 A thing that exists ldquooutside of usrdquo that we
exchange for something we want or need2 Something with use-value and exchange-value
USE VALUE
=
=
Protect your feet when walking =
$65 or $20
=
(Of little use to the capitalist)
(Potential profits for the capitalist)
EXCHANGE VALUE
THE VALUE OF COMMODITIES
bullCapitalism
bullAlmost all production is directed at exchange-value rather than use-value
bullExchange value Surplus value
THE VALUE OF COMMODITIES
bull Surplus value= Profit
bull Exchange value minus production costs
bull Labor theory of valuebull Exchange value determined by labor
time required for production
CAPITALISM amp COMMODITIES
bullCapitalism Surplus value (profit)
bull Dependent on individuals wanting more and more products
bullTo Generate profitbull Expand markets
bull Sell more commodities
bull Commodification
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange--Barter
bull Economies became more complex and money was introduced
bull Stages
bull People moved from role of buyer to seller
and back again = Circulation of Commodities
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
ACCUMULATION OF CAPITAL
bullCapital=Wealth in the form of money or other assets
bullFor particular purposebull Starting a company
bull Investing
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull Money spent Use-value to purchaserbull Commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull M-C-M MoneyCommodities Money
bull Motivating force is exchange value rather than use-value
bull Result bull Worthless productsbull Dangerous productsbull Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE VALUE OF COMMODITIES
commodity ndash noun1 A thing that exists ldquooutside of usrdquo that we
exchange for something we want or need2 Something with use-value and exchange-value
USE VALUE
=
=
Protect your feet when walking =
$65 or $20
=
(Of little use to the capitalist)
(Potential profits for the capitalist)
EXCHANGE VALUE
THE VALUE OF COMMODITIES
bullCapitalism
bullAlmost all production is directed at exchange-value rather than use-value
bullExchange value Surplus value
THE VALUE OF COMMODITIES
bull Surplus value= Profit
bull Exchange value minus production costs
bull Labor theory of valuebull Exchange value determined by labor
time required for production
CAPITALISM amp COMMODITIES
bullCapitalism Surplus value (profit)
bull Dependent on individuals wanting more and more products
bullTo Generate profitbull Expand markets
bull Sell more commodities
bull Commodification
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange--Barter
bull Economies became more complex and money was introduced
bull Stages
bull People moved from role of buyer to seller
and back again = Circulation of Commodities
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
ACCUMULATION OF CAPITAL
bullCapital=Wealth in the form of money or other assets
bullFor particular purposebull Starting a company
bull Investing
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull Money spent Use-value to purchaserbull Commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull M-C-M MoneyCommodities Money
bull Motivating force is exchange value rather than use-value
bull Result bull Worthless productsbull Dangerous productsbull Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE VALUE OF COMMODITIES
bullCapitalism
bullAlmost all production is directed at exchange-value rather than use-value
bullExchange value Surplus value
THE VALUE OF COMMODITIES
bull Surplus value= Profit
bull Exchange value minus production costs
bull Labor theory of valuebull Exchange value determined by labor
time required for production
CAPITALISM amp COMMODITIES
bullCapitalism Surplus value (profit)
bull Dependent on individuals wanting more and more products
bullTo Generate profitbull Expand markets
bull Sell more commodities
bull Commodification
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange--Barter
bull Economies became more complex and money was introduced
bull Stages
bull People moved from role of buyer to seller
and back again = Circulation of Commodities
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
ACCUMULATION OF CAPITAL
bullCapital=Wealth in the form of money or other assets
bullFor particular purposebull Starting a company
bull Investing
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull Money spent Use-value to purchaserbull Commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull M-C-M MoneyCommodities Money
bull Motivating force is exchange value rather than use-value
bull Result bull Worthless productsbull Dangerous productsbull Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE VALUE OF COMMODITIES
bull Surplus value= Profit
bull Exchange value minus production costs
bull Labor theory of valuebull Exchange value determined by labor
time required for production
CAPITALISM amp COMMODITIES
bullCapitalism Surplus value (profit)
bull Dependent on individuals wanting more and more products
bullTo Generate profitbull Expand markets
bull Sell more commodities
bull Commodification
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange--Barter
bull Economies became more complex and money was introduced
bull Stages
bull People moved from role of buyer to seller
and back again = Circulation of Commodities
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
ACCUMULATION OF CAPITAL
bullCapital=Wealth in the form of money or other assets
bullFor particular purposebull Starting a company
bull Investing
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull Money spent Use-value to purchaserbull Commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull M-C-M MoneyCommodities Money
bull Motivating force is exchange value rather than use-value
bull Result bull Worthless productsbull Dangerous productsbull Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
CAPITALISM amp COMMODITIES
bullCapitalism Surplus value (profit)
bull Dependent on individuals wanting more and more products
bullTo Generate profitbull Expand markets
bull Sell more commodities
bull Commodification
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange--Barter
bull Economies became more complex and money was introduced
bull Stages
bull People moved from role of buyer to seller
and back again = Circulation of Commodities
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
ACCUMULATION OF CAPITAL
bullCapital=Wealth in the form of money or other assets
bullFor particular purposebull Starting a company
bull Investing
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull Money spent Use-value to purchaserbull Commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull M-C-M MoneyCommodities Money
bull Motivating force is exchange value rather than use-value
bull Result bull Worthless productsbull Dangerous productsbull Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange--Barter
bull Economies became more complex and money was introduced
bull Stages
bull People moved from role of buyer to seller
and back again = Circulation of Commodities
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
ACCUMULATION OF CAPITAL
bullCapital=Wealth in the form of money or other assets
bullFor particular purposebull Starting a company
bull Investing
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull Money spent Use-value to purchaserbull Commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull M-C-M MoneyCommodities Money
bull Motivating force is exchange value rather than use-value
bull Result bull Worthless productsbull Dangerous productsbull Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange--Barter
bull Economies became more complex and money was introduced
bull Stages
bull People moved from role of buyer to seller
and back again = Circulation of Commodities
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
ACCUMULATION OF CAPITAL
bullCapital=Wealth in the form of money or other assets
bullFor particular purposebull Starting a company
bull Investing
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull Money spent Use-value to purchaserbull Commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull M-C-M MoneyCommodities Money
bull Motivating force is exchange value rather than use-value
bull Result bull Worthless productsbull Dangerous productsbull Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange--Barter
bull Economies became more complex and money was introduced
bull Stages
bull People moved from role of buyer to seller
and back again = Circulation of Commodities
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
ACCUMULATION OF CAPITAL
bullCapital=Wealth in the form of money or other assets
bullFor particular purposebull Starting a company
bull Investing
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull Money spent Use-value to purchaserbull Commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull M-C-M MoneyCommodities Money
bull Motivating force is exchange value rather than use-value
bull Result bull Worthless productsbull Dangerous productsbull Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
ACCUMULATION OF CAPITAL
bullCapital=Wealth in the form of money or other assets
bullFor particular purposebull Starting a company
bull Investing
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull Money spent Use-value to purchaserbull Commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull M-C-M MoneyCommodities Money
bull Motivating force is exchange value rather than use-value
bull Result bull Worthless productsbull Dangerous productsbull Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
ACCUMULATION OF CAPITAL
bullCapital=Wealth in the form of money or other assets
bullFor particular purposebull Starting a company
bull Investing
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull Money spent Use-value to purchaserbull Commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull M-C-M MoneyCommodities Money
bull Motivating force is exchange value rather than use-value
bull Result bull Worthless productsbull Dangerous productsbull Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull Money spent Use-value to purchaserbull Commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull M-C-M MoneyCommodities Money
bull Motivating force is exchange value rather than use-value
bull Result bull Worthless productsbull Dangerous productsbull Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull M-C-M MoneyCommodities Money
bull Motivating force is exchange value rather than use-value
bull Result bull Worthless productsbull Dangerous productsbull Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amount
bull C-M-C transactions end
bull M-C-M continues indefinitelybull M does not disappear
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)