Tag Archives: Exploitation

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 – Engels’ Preface 1894

The first part of Engels’ introduction describes the laborious process Engels confronted as he attempted to put together a draft of Volume 3 from Marx’s incomplete manuscripts and notes. It sounds like a nightmare of a task. Continue reading

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Interview with Andrew Kliman

Here is an interview with Andrew Kliman in which Kliman discusses the Marxist theory of capitalist crisis. Kliman is professor of economics at PACE university and author of the very important book Reclaiming Marx’s Capital. Kliman talks about some of … Continue reading

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Work

Work. Part One: Part Two: Human beings have always worked. But the way we work has changed over time. In working we not only create the necessities for our own survival but we create the world around us and create … Continue reading

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Consume!

This video on consumption and underconsumption theory is part of a larger, ongoing set of videos about the nature of economic crisis in a capitalist society. Continue reading

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What is Capitalism?

What is capitalism? Part 1: Part 2: In many videos I’ve argued that exploitation is central to capitalism. In my recent video on money I explained how the contradictions within money itself can only be resolved by a process which … Continue reading

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DIY exploitation

Part one: Part two: This is a follow up video to “where does profit come from?” In that video: labor creates value. therefore labor is the source of profit. review: of all inputs in production, only one input is capable … Continue reading

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Welcome to Kapitalism…

This is a place to post the text of my youtube videos which deal with various topics in economics. You will find the links to each video and their text under the “pages” section on the right.

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