Tag Archives: cost-price

Value-Price- a draft script

This is a draft of the script for my next video “Value and Price”. Any feedback is helpful. The footnotes have yet to be numerically linked to the main text. Intro There is a lot of confusion over Marx’s theory … Continue reading

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Das Kapital vol.3 Part 1 Chapter 2: The Rate of Profit

The summary which begins Chapter Two serves not only to remind us of some important details about the way in which value is produced but also ties together several details that will be essential for understanding our analysis of the law of value in the context of competing capitals. We are reminded first that surplus value is created in production but only realized in circulation. This is a crucial point as it really helps delineate the essential contours of Marx’s argument. The world of appearance is dominated by fetishism. We think that the coercive and tantalizing power of the market, that value, is manifest in commodities themselves as a result of their specific properties. We think that capital itself creates value. And we think that the process of exchange itself can create a profit. Continue reading

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Kapital vol. 3 Part 1 Chapter 1: Cost-Price and Profit

Marx begins by briefly reminding us of the the large-scale structure of his three volumes of Kapital. Each volume analyzes capitalism from different levels of abstraction delineated by different social relations. Continue reading

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