Comments for Kapitalism101

Comment on The Critique of Political Economy- Chapter 2 part 1 notes by Doug Prishpreed

Doug Prishpreed — Thu, 23 May 2013 08:15:01 +0000

A sort of related/unrelated question:

On inflation:

If we increased the supply of money it would obviously have to drop in value if it indeed is a measure of value.

But that assumes a perfect world were like, money has a computer chip in it that reflects its value according to money supply?
So I would assume not everyone is aware of inflation.

So then if we just printed money and put it into the economy we could make it better. If we print and employ people we could create some demand and possibly that demand might raise prices.

But that leads me to believe that a general growing demand ie. an healthy economy, it would raise prices itself and cause the effect of inflation on itself.

So that seems likely to me. Any objections or additions?

Comment on The Critique of Political Economy- Chapter 2 part 1 notes by kapitalism101

kapitalism101 — Thu, 16 May 2013 13:51:22 +0000

Yes I talk about this in my first post on the book. That is what I mean by “I assume this is what he means”.

Comment on The Critique of Political Economy- Chapter 2 part 1 notes by allan harris

allan harris — Thu, 16 May 2013 13:35:30 +0000

So what determines the value of $1 today? The major economies have been off the gold standard for decades now.

Comment on The Critique of Political Economy- Chapter 2 part 1 notes by Dr.Kividos

Dr.Kividos — Thu, 16 May 2013 08:53:47 +0000

“The difference between exchange value and price (notice he doesn’t say “value and exchange value”… though I assume this is what he means) is super-important.”

No, Marx did not have this distinction yet. This is important to know.

Comment on The Critique of Political Economy- Chapter 2 part 1 notes by skywanderer

skywanderer — Thu, 16 May 2013 08:15:38 +0000

I am wondering what you think, as I am not sure if this point has been explicitly made by Marx (it was long ago when I read Capital)

The way how I understood his critique on the capitalist use of money is that money, by virtue of its intended function to be merely a representative equivalent of a useful commodity, should NOT have a value of its own – it should merely represent an objective exchange value of certain amount of social labour contained in a commodity, yet money in the capitalist system does not satisfy these criteria either, (in addition to its failure on all other counts.)

Marx was so right in so many aspects of his critique of capitalism that his genius never stops amazing me.

Comment on Law of Value 10: Price and Value by kapitalism101

kapitalism101 — Thu, 16 May 2013 05:09:28 +0000

you couldn’t because then you would have no profit. If you make less profit than the industry average you will go out of business. Or just be less profitable. You are perfectly welcome to set any price you want. Sell below your cost of production if you like. But good luck reproducing your production the next day.

I have tired of this conversation. I have to bow out. If I cannot explain the concept to you by now I never will. You will have to try somewhere else with someone with more patients than I. Good luck.

Comment on Law of Value 10: Price and Value by kapitalism101

kapitalism101 — Thu, 16 May 2013 05:05:56 +0000

i have no idea what you mean by this because you are inventing your own terms.

Comment on Law of Value 10: Price and Value by ED

ED — Thu, 16 May 2013 05:05:02 +0000

If it was real then why could I erode it away when I am competing with you?

Comment on Law of Value 10: Price and Value by ED

ED — Thu, 16 May 2013 05:00:33 +0000

Ok BUT, notice how the price becomes the “value” but not really

For instance. Your watch parts are valued at 10. And you obviously bought them at price-value. But not value.
it becomes the price-value of inputs and consumer goods.

Comment on Law of Value 10: Price and Value by kapitalism101

kapitalism101 — Thu, 16 May 2013 04:55:50 +0000

The entire working day is divided into necessary labor (labor required to reproduce the value of the wage) and surplus labor. If surplus labor is not performed then there is not incentive for the capitalist to invest in production. You can divide the working day into 4 hours of necessary labor and 4 hours of surplus labor. Or you can divide it by the hour (half an hour of necessary, half of surplus) or you can divide it by the commodity… c+5, v+5, s+5. Any way you look at it the same proportions hold.

You keep saying that the surplus labor time is fake or made up. It is real labor time that is being performed. It’s duration is the total working day minus the labor time required to reproduce the value of the wage. This is not a made up quantity of labor time or a made up quantity of money.

Please think carefully before replying. I am truly trying to be helpful but I feel like you are not actually listening or thinking before you write. I am not a grade-school teacher. It is not my job to sit by a computer and fix your mistakes over and over again. You have to actually think for yourself and some point and try to make sense of the material.