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ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and...

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ECONOMIC ANALYSES – CHAPTER 4 KARL MARX
Transcript
Page 1: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

ECONOMIC ANALYSES ndash CHAPTER 4

KARL MARX

ECONOMIC ANALYSES

bull Marxrsquos theories of economy and society are presented primarily in Das Kapital

bull Theories continue to influence sociology

3

BASEmdashSUPERSTRUCTURE RELATIONSHIP

Ideological Superstructurereligion politics the state culture art the family

Economic Base(eg Feudalism capitalism communism)

4

BASE-SUPERSTRUCTURE BASE-SUPERSTRUCTURE CAPITALIST IDEOLOGIESCAPITALIST IDEOLOGIES

Democratic Liberties

Religious Freedom

Belief Meritocracy-American Dream

Choosing to Marry for Love

Economic Relations in Free Market Capitalism

Consumer Freedom to Buy

We are self-interested actors

BASE AND SUPERSTRUCTURE

bull Relationship of superstructure and base

bull Dialectical

bull Mutual interdependence

bull Marx wanted to analyze the core elements of capitalist societiesbull Commodities (items bought and sold)

COMMODITIES

bullMarx defined commodities as

bullExternal objects

bullCapable of satisfying human needs

THE VALUE OF COMMODITIES

bull Two important criteriandash Use-value a function of the actual physical properties of a

commoditybull The purpose to which it can be putbull Its value in consumption

ndash Exchange-valuebull The worth of the commodity relative to other commoditiesbull In modern societies exchange-value is expressed in

monetary terms (money)

ndash Use value equals the qualitative valuendash Exchange-value equals the quantitative value

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

bullAccording to Marx in capitalist societies

bullAlmost all production is directed at exchange-value rather than use-value

THE VALUE OF COMMODITIES

bull Surplus valuebull The difference between the exchange value of

a commodity and the cost of producing it ndash including the raw materials tools and labor

bull Marx focused on labor bull He claimed that the exchange value of any item

was determined by the socially necessary labor time required for its production

THE VALUE OF COMMODITIES

bull Labor time amp length of the work day

bull The greater the number of hours employees are routinely expected to work for a given wage

bull The cheaper the commodities and

bull The greater the potential benefit for the capitalist

THE COMMODIFICATION OF SOCIAL LIFE

bullCapitalism is dependent on individuals wanting more and more products

bullCapitalists generate more profit by expanding markets and selling more commodities

COMMODIFICATION OF SOCIAL LIFE

bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings

bull Becomes commodified Packaged and sold in the marketplace for profit

LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE

Commodification of Loveand Relationships

Commodification of Romance

THE CIRCULATION OF COMMODITIES

bull Marx Societies are an evolutionary process

bull In nomadic societies people owned little property

bull Most items they created had use-value to people who produced them

bull As societies evolved exchange value became more important than use value

THE CIRCULATION OF COMMODITIES

bull Simplest form of exchange was barter system

bull Economies became more complex and money was introduced

bull Process went through stages in which people continuously moved from the 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 is so worshiped that objects are evaluated in terms of monetary value

bull Money is used to express the value of all commodities

THE ACCUMULATION OF CAPITAL

bull Marx described 2 functions of money

1 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 In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed

THE ACCUMULATION OF CAPITAL

2 Buying in order to sell

bull Money can become capitalbull Accumulated goods for the production of

other goods

bull M-C-M Motivating force is exchange value rather than use-value

bull Result 2 Worthless products

3 Dangerous products

4 Waste

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 2: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

ECONOMIC ANALYSES

bull Marxrsquos theories of economy and society are presented primarily in Das Kapital

bull Theories continue to influence sociology

3

BASEmdashSUPERSTRUCTURE RELATIONSHIP

Ideological Superstructurereligion politics the state culture art the family

Economic Base(eg Feudalism capitalism communism)

4

BASE-SUPERSTRUCTURE BASE-SUPERSTRUCTURE CAPITALIST IDEOLOGIESCAPITALIST IDEOLOGIES

Democratic Liberties

Religious Freedom

Belief Meritocracy-American Dream

Choosing to Marry for Love

Economic Relations in Free Market Capitalism

Consumer Freedom to Buy

We are self-interested actors

BASE AND SUPERSTRUCTURE

bull Relationship of superstructure and base

bull Dialectical

bull Mutual interdependence

bull Marx wanted to analyze the core elements of capitalist societiesbull Commodities (items bought and sold)

COMMODITIES

bullMarx defined commodities as

bullExternal objects

bullCapable of satisfying human needs

THE VALUE OF COMMODITIES

bull Two important criteriandash Use-value a function of the actual physical properties of a

commoditybull The purpose to which it can be putbull Its value in consumption

ndash Exchange-valuebull The worth of the commodity relative to other commoditiesbull In modern societies exchange-value is expressed in

monetary terms (money)

ndash Use value equals the qualitative valuendash Exchange-value equals the quantitative value

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

bullAccording to Marx in capitalist societies

bullAlmost all production is directed at exchange-value rather than use-value

THE VALUE OF COMMODITIES

bull Surplus valuebull The difference between the exchange value of

a commodity and the cost of producing it ndash including the raw materials tools and labor

bull Marx focused on labor bull He claimed that the exchange value of any item

was determined by the socially necessary labor time required for its production

THE VALUE OF COMMODITIES

bull Labor time amp length of the work day

bull The greater the number of hours employees are routinely expected to work for a given wage

bull The cheaper the commodities and

bull The greater the potential benefit for the capitalist

THE COMMODIFICATION OF SOCIAL LIFE

bullCapitalism is dependent on individuals wanting more and more products

bullCapitalists generate more profit by expanding markets and selling more commodities

COMMODIFICATION OF SOCIAL LIFE

bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings

bull Becomes commodified Packaged and sold in the marketplace for profit

LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE

Commodification of Loveand Relationships

Commodification of Romance

THE CIRCULATION OF COMMODITIES

bull Marx Societies are an evolutionary process

bull In nomadic societies people owned little property

bull Most items they created had use-value to people who produced them

bull As societies evolved exchange value became more important than use value

THE CIRCULATION OF COMMODITIES

bull Simplest form of exchange was barter system

bull Economies became more complex and money was introduced

bull Process went through stages in which people continuously moved from the 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 is so worshiped that objects are evaluated in terms of monetary value

bull Money is used to express the value of all commodities

THE ACCUMULATION OF CAPITAL

bull Marx described 2 functions of money

1 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 In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed

THE ACCUMULATION OF CAPITAL

2 Buying in order to sell

bull Money can become capitalbull Accumulated goods for the production of

other goods

bull M-C-M Motivating force is exchange value rather than use-value

bull Result 2 Worthless products

3 Dangerous products

4 Waste

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 3: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

3

BASEmdashSUPERSTRUCTURE RELATIONSHIP

Ideological Superstructurereligion politics the state culture art the family

Economic Base(eg Feudalism capitalism communism)

4

BASE-SUPERSTRUCTURE BASE-SUPERSTRUCTURE CAPITALIST IDEOLOGIESCAPITALIST IDEOLOGIES

Democratic Liberties

Religious Freedom

Belief Meritocracy-American Dream

Choosing to Marry for Love

Economic Relations in Free Market Capitalism

Consumer Freedom to Buy

We are self-interested actors

BASE AND SUPERSTRUCTURE

bull Relationship of superstructure and base

bull Dialectical

bull Mutual interdependence

bull Marx wanted to analyze the core elements of capitalist societiesbull Commodities (items bought and sold)

COMMODITIES

bullMarx defined commodities as

bullExternal objects

bullCapable of satisfying human needs

THE VALUE OF COMMODITIES

bull Two important criteriandash Use-value a function of the actual physical properties of a

commoditybull The purpose to which it can be putbull Its value in consumption

ndash Exchange-valuebull The worth of the commodity relative to other commoditiesbull In modern societies exchange-value is expressed in

monetary terms (money)

ndash Use value equals the qualitative valuendash Exchange-value equals the quantitative value

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

bullAccording to Marx in capitalist societies

bullAlmost all production is directed at exchange-value rather than use-value

THE VALUE OF COMMODITIES

bull Surplus valuebull The difference between the exchange value of

a commodity and the cost of producing it ndash including the raw materials tools and labor

bull Marx focused on labor bull He claimed that the exchange value of any item

was determined by the socially necessary labor time required for its production

THE VALUE OF COMMODITIES

bull Labor time amp length of the work day

bull The greater the number of hours employees are routinely expected to work for a given wage

bull The cheaper the commodities and

bull The greater the potential benefit for the capitalist

THE COMMODIFICATION OF SOCIAL LIFE

bullCapitalism is dependent on individuals wanting more and more products

bullCapitalists generate more profit by expanding markets and selling more commodities

COMMODIFICATION OF SOCIAL LIFE

bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings

bull Becomes commodified Packaged and sold in the marketplace for profit

LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE

Commodification of Loveand Relationships

Commodification of Romance

THE CIRCULATION OF COMMODITIES

bull Marx Societies are an evolutionary process

bull In nomadic societies people owned little property

bull Most items they created had use-value to people who produced them

bull As societies evolved exchange value became more important than use value

THE CIRCULATION OF COMMODITIES

bull Simplest form of exchange was barter system

bull Economies became more complex and money was introduced

bull Process went through stages in which people continuously moved from the 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 is so worshiped that objects are evaluated in terms of monetary value

bull Money is used to express the value of all commodities

THE ACCUMULATION OF CAPITAL

bull Marx described 2 functions of money

1 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 In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed

THE ACCUMULATION OF CAPITAL

2 Buying in order to sell

bull Money can become capitalbull Accumulated goods for the production of

other goods

bull M-C-M Motivating force is exchange value rather than use-value

bull Result 2 Worthless products

3 Dangerous products

4 Waste

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 4: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

4

BASE-SUPERSTRUCTURE BASE-SUPERSTRUCTURE CAPITALIST IDEOLOGIESCAPITALIST IDEOLOGIES

Democratic Liberties

Religious Freedom

Belief Meritocracy-American Dream

Choosing to Marry for Love

Economic Relations in Free Market Capitalism

Consumer Freedom to Buy

We are self-interested actors

BASE AND SUPERSTRUCTURE

bull Relationship of superstructure and base

bull Dialectical

bull Mutual interdependence

bull Marx wanted to analyze the core elements of capitalist societiesbull Commodities (items bought and sold)

COMMODITIES

bullMarx defined commodities as

bullExternal objects

bullCapable of satisfying human needs

THE VALUE OF COMMODITIES

bull Two important criteriandash Use-value a function of the actual physical properties of a

commoditybull The purpose to which it can be putbull Its value in consumption

ndash Exchange-valuebull The worth of the commodity relative to other commoditiesbull In modern societies exchange-value is expressed in

monetary terms (money)

ndash Use value equals the qualitative valuendash Exchange-value equals the quantitative value

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

bullAccording to Marx in capitalist societies

bullAlmost all production is directed at exchange-value rather than use-value

THE VALUE OF COMMODITIES

bull Surplus valuebull The difference between the exchange value of

a commodity and the cost of producing it ndash including the raw materials tools and labor

bull Marx focused on labor bull He claimed that the exchange value of any item

was determined by the socially necessary labor time required for its production

THE VALUE OF COMMODITIES

bull Labor time amp length of the work day

bull The greater the number of hours employees are routinely expected to work for a given wage

bull The cheaper the commodities and

bull The greater the potential benefit for the capitalist

THE COMMODIFICATION OF SOCIAL LIFE

bullCapitalism is dependent on individuals wanting more and more products

bullCapitalists generate more profit by expanding markets and selling more commodities

COMMODIFICATION OF SOCIAL LIFE

bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings

bull Becomes commodified Packaged and sold in the marketplace for profit

LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE

Commodification of Loveand Relationships

Commodification of Romance

THE CIRCULATION OF COMMODITIES

bull Marx Societies are an evolutionary process

bull In nomadic societies people owned little property

bull Most items they created had use-value to people who produced them

bull As societies evolved exchange value became more important than use value

THE CIRCULATION OF COMMODITIES

bull Simplest form of exchange was barter system

bull Economies became more complex and money was introduced

bull Process went through stages in which people continuously moved from the 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 is so worshiped that objects are evaluated in terms of monetary value

bull Money is used to express the value of all commodities

THE ACCUMULATION OF CAPITAL

bull Marx described 2 functions of money

1 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 In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed

THE ACCUMULATION OF CAPITAL

2 Buying in order to sell

bull Money can become capitalbull Accumulated goods for the production of

other goods

bull M-C-M Motivating force is exchange value rather than use-value

bull Result 2 Worthless products

3 Dangerous products

4 Waste

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 5: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

BASE AND SUPERSTRUCTURE

bull Relationship of superstructure and base

bull Dialectical

bull Mutual interdependence

bull Marx wanted to analyze the core elements of capitalist societiesbull Commodities (items bought and sold)

COMMODITIES

bullMarx defined commodities as

bullExternal objects

bullCapable of satisfying human needs

THE VALUE OF COMMODITIES

bull Two important criteriandash Use-value a function of the actual physical properties of a

commoditybull The purpose to which it can be putbull Its value in consumption

ndash Exchange-valuebull The worth of the commodity relative to other commoditiesbull In modern societies exchange-value is expressed in

monetary terms (money)

ndash Use value equals the qualitative valuendash Exchange-value equals the quantitative value

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

bullAccording to Marx in capitalist societies

bullAlmost all production is directed at exchange-value rather than use-value

THE VALUE OF COMMODITIES

bull Surplus valuebull The difference between the exchange value of

a commodity and the cost of producing it ndash including the raw materials tools and labor

bull Marx focused on labor bull He claimed that the exchange value of any item

was determined by the socially necessary labor time required for its production

THE VALUE OF COMMODITIES

bull Labor time amp length of the work day

bull The greater the number of hours employees are routinely expected to work for a given wage

bull The cheaper the commodities and

bull The greater the potential benefit for the capitalist

THE COMMODIFICATION OF SOCIAL LIFE

bullCapitalism is dependent on individuals wanting more and more products

bullCapitalists generate more profit by expanding markets and selling more commodities

COMMODIFICATION OF SOCIAL LIFE

bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings

bull Becomes commodified Packaged and sold in the marketplace for profit

LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE

Commodification of Loveand Relationships

Commodification of Romance

THE CIRCULATION OF COMMODITIES

bull Marx Societies are an evolutionary process

bull In nomadic societies people owned little property

bull Most items they created had use-value to people who produced them

bull As societies evolved exchange value became more important than use value

THE CIRCULATION OF COMMODITIES

bull Simplest form of exchange was barter system

bull Economies became more complex and money was introduced

bull Process went through stages in which people continuously moved from the 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 is so worshiped that objects are evaluated in terms of monetary value

bull Money is used to express the value of all commodities

THE ACCUMULATION OF CAPITAL

bull Marx described 2 functions of money

1 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 In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed

THE ACCUMULATION OF CAPITAL

2 Buying in order to sell

bull Money can become capitalbull Accumulated goods for the production of

other goods

bull M-C-M Motivating force is exchange value rather than use-value

bull Result 2 Worthless products

3 Dangerous products

4 Waste

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 6: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

COMMODITIES

bullMarx defined commodities as

bullExternal objects

bullCapable of satisfying human needs

THE VALUE OF COMMODITIES

bull Two important criteriandash Use-value a function of the actual physical properties of a

commoditybull The purpose to which it can be putbull Its value in consumption

ndash Exchange-valuebull The worth of the commodity relative to other commoditiesbull In modern societies exchange-value is expressed in

monetary terms (money)

ndash Use value equals the qualitative valuendash Exchange-value equals the quantitative value

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

bullAccording to Marx in capitalist societies

bullAlmost all production is directed at exchange-value rather than use-value

THE VALUE OF COMMODITIES

bull Surplus valuebull The difference between the exchange value of

a commodity and the cost of producing it ndash including the raw materials tools and labor

bull Marx focused on labor bull He claimed that the exchange value of any item

was determined by the socially necessary labor time required for its production

THE VALUE OF COMMODITIES

bull Labor time amp length of the work day

bull The greater the number of hours employees are routinely expected to work for a given wage

bull The cheaper the commodities and

bull The greater the potential benefit for the capitalist

THE COMMODIFICATION OF SOCIAL LIFE

bullCapitalism is dependent on individuals wanting more and more products

bullCapitalists generate more profit by expanding markets and selling more commodities

COMMODIFICATION OF SOCIAL LIFE

bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings

bull Becomes commodified Packaged and sold in the marketplace for profit

LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE

Commodification of Loveand Relationships

Commodification of Romance

THE CIRCULATION OF COMMODITIES

bull Marx Societies are an evolutionary process

bull In nomadic societies people owned little property

bull Most items they created had use-value to people who produced them

bull As societies evolved exchange value became more important than use value

THE CIRCULATION OF COMMODITIES

bull Simplest form of exchange was barter system

bull Economies became more complex and money was introduced

bull Process went through stages in which people continuously moved from the 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 is so worshiped that objects are evaluated in terms of monetary value

bull Money is used to express the value of all commodities

THE ACCUMULATION OF CAPITAL

bull Marx described 2 functions of money

1 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 In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed

THE ACCUMULATION OF CAPITAL

2 Buying in order to sell

bull Money can become capitalbull Accumulated goods for the production of

other goods

bull M-C-M Motivating force is exchange value rather than use-value

bull Result 2 Worthless products

3 Dangerous products

4 Waste

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 7: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

THE VALUE OF COMMODITIES

bull Two important criteriandash Use-value a function of the actual physical properties of a

commoditybull The purpose to which it can be putbull Its value in consumption

ndash Exchange-valuebull The worth of the commodity relative to other commoditiesbull In modern societies exchange-value is expressed in

monetary terms (money)

ndash Use value equals the qualitative valuendash Exchange-value equals the quantitative value

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

bullAccording to Marx in capitalist societies

bullAlmost all production is directed at exchange-value rather than use-value

THE VALUE OF COMMODITIES

bull Surplus valuebull The difference between the exchange value of

a commodity and the cost of producing it ndash including the raw materials tools and labor

bull Marx focused on labor bull He claimed that the exchange value of any item

was determined by the socially necessary labor time required for its production

THE VALUE OF COMMODITIES

bull Labor time amp length of the work day

bull The greater the number of hours employees are routinely expected to work for a given wage

bull The cheaper the commodities and

bull The greater the potential benefit for the capitalist

THE COMMODIFICATION OF SOCIAL LIFE

bullCapitalism is dependent on individuals wanting more and more products

bullCapitalists generate more profit by expanding markets and selling more commodities

COMMODIFICATION OF SOCIAL LIFE

bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings

bull Becomes commodified Packaged and sold in the marketplace for profit

LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE

Commodification of Loveand Relationships

Commodification of Romance

THE CIRCULATION OF COMMODITIES

bull Marx Societies are an evolutionary process

bull In nomadic societies people owned little property

bull Most items they created had use-value to people who produced them

bull As societies evolved exchange value became more important than use value

THE CIRCULATION OF COMMODITIES

bull Simplest form of exchange was barter system

bull Economies became more complex and money was introduced

bull Process went through stages in which people continuously moved from the 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 is so worshiped that objects are evaluated in terms of monetary value

bull Money is used to express the value of all commodities

THE ACCUMULATION OF CAPITAL

bull Marx described 2 functions of money

1 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 In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed

THE ACCUMULATION OF CAPITAL

2 Buying in order to sell

bull Money can become capitalbull Accumulated goods for the production of

other goods

bull M-C-M Motivating force is exchange value rather than use-value

bull Result 2 Worthless products

3 Dangerous products

4 Waste

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 8: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

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

bullAccording to Marx in capitalist societies

bullAlmost all production is directed at exchange-value rather than use-value

THE VALUE OF COMMODITIES

bull Surplus valuebull The difference between the exchange value of

a commodity and the cost of producing it ndash including the raw materials tools and labor

bull Marx focused on labor bull He claimed that the exchange value of any item

was determined by the socially necessary labor time required for its production

THE VALUE OF COMMODITIES

bull Labor time amp length of the work day

bull The greater the number of hours employees are routinely expected to work for a given wage

bull The cheaper the commodities and

bull The greater the potential benefit for the capitalist

THE COMMODIFICATION OF SOCIAL LIFE

bullCapitalism is dependent on individuals wanting more and more products

bullCapitalists generate more profit by expanding markets and selling more commodities

COMMODIFICATION OF SOCIAL LIFE

bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings

bull Becomes commodified Packaged and sold in the marketplace for profit

LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE

Commodification of Loveand Relationships

Commodification of Romance

THE CIRCULATION OF COMMODITIES

bull Marx Societies are an evolutionary process

bull In nomadic societies people owned little property

bull Most items they created had use-value to people who produced them

bull As societies evolved exchange value became more important than use value

THE CIRCULATION OF COMMODITIES

bull Simplest form of exchange was barter system

bull Economies became more complex and money was introduced

bull Process went through stages in which people continuously moved from the 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 is so worshiped that objects are evaluated in terms of monetary value

bull Money is used to express the value of all commodities

THE ACCUMULATION OF CAPITAL

bull Marx described 2 functions of money

1 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 In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed

THE ACCUMULATION OF CAPITAL

2 Buying in order to sell

bull Money can become capitalbull Accumulated goods for the production of

other goods

bull M-C-M Motivating force is exchange value rather than use-value

bull Result 2 Worthless products

3 Dangerous products

4 Waste

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 9: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

THE VALUE OF COMMODITIES

bullAccording to Marx in capitalist societies

bullAlmost all production is directed at exchange-value rather than use-value

THE VALUE OF COMMODITIES

bull Surplus valuebull The difference between the exchange value of

a commodity and the cost of producing it ndash including the raw materials tools and labor

bull Marx focused on labor bull He claimed that the exchange value of any item

was determined by the socially necessary labor time required for its production

THE VALUE OF COMMODITIES

bull Labor time amp length of the work day

bull The greater the number of hours employees are routinely expected to work for a given wage

bull The cheaper the commodities and

bull The greater the potential benefit for the capitalist

THE COMMODIFICATION OF SOCIAL LIFE

bullCapitalism is dependent on individuals wanting more and more products

bullCapitalists generate more profit by expanding markets and selling more commodities

COMMODIFICATION OF SOCIAL LIFE

bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings

bull Becomes commodified Packaged and sold in the marketplace for profit

LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE

Commodification of Loveand Relationships

Commodification of Romance

THE CIRCULATION OF COMMODITIES

bull Marx Societies are an evolutionary process

bull In nomadic societies people owned little property

bull Most items they created had use-value to people who produced them

bull As societies evolved exchange value became more important than use value

THE CIRCULATION OF COMMODITIES

bull Simplest form of exchange was barter system

bull Economies became more complex and money was introduced

bull Process went through stages in which people continuously moved from the 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 is so worshiped that objects are evaluated in terms of monetary value

bull Money is used to express the value of all commodities

THE ACCUMULATION OF CAPITAL

bull Marx described 2 functions of money

1 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 In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed

THE ACCUMULATION OF CAPITAL

2 Buying in order to sell

bull Money can become capitalbull Accumulated goods for the production of

other goods

bull M-C-M Motivating force is exchange value rather than use-value

bull Result 2 Worthless products

3 Dangerous products

4 Waste

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 10: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

THE VALUE OF COMMODITIES

bull Surplus valuebull The difference between the exchange value of

a commodity and the cost of producing it ndash including the raw materials tools and labor

bull Marx focused on labor bull He claimed that the exchange value of any item

was determined by the socially necessary labor time required for its production

THE VALUE OF COMMODITIES

bull Labor time amp length of the work day

bull The greater the number of hours employees are routinely expected to work for a given wage

bull The cheaper the commodities and

bull The greater the potential benefit for the capitalist

THE COMMODIFICATION OF SOCIAL LIFE

bullCapitalism is dependent on individuals wanting more and more products

bullCapitalists generate more profit by expanding markets and selling more commodities

COMMODIFICATION OF SOCIAL LIFE

bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings

bull Becomes commodified Packaged and sold in the marketplace for profit

LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE

Commodification of Loveand Relationships

Commodification of Romance

THE CIRCULATION OF COMMODITIES

bull Marx Societies are an evolutionary process

bull In nomadic societies people owned little property

bull Most items they created had use-value to people who produced them

bull As societies evolved exchange value became more important than use value

THE CIRCULATION OF COMMODITIES

bull Simplest form of exchange was barter system

bull Economies became more complex and money was introduced

bull Process went through stages in which people continuously moved from the 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 is so worshiped that objects are evaluated in terms of monetary value

bull Money is used to express the value of all commodities

THE ACCUMULATION OF CAPITAL

bull Marx described 2 functions of money

1 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 In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed

THE ACCUMULATION OF CAPITAL

2 Buying in order to sell

bull Money can become capitalbull Accumulated goods for the production of

other goods

bull M-C-M Motivating force is exchange value rather than use-value

bull Result 2 Worthless products

3 Dangerous products

4 Waste

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 11: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

THE VALUE OF COMMODITIES

bull Labor time amp length of the work day

bull The greater the number of hours employees are routinely expected to work for a given wage

bull The cheaper the commodities and

bull The greater the potential benefit for the capitalist

THE COMMODIFICATION OF SOCIAL LIFE

bullCapitalism is dependent on individuals wanting more and more products

bullCapitalists generate more profit by expanding markets and selling more commodities

COMMODIFICATION OF SOCIAL LIFE

bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings

bull Becomes commodified Packaged and sold in the marketplace for profit

LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE

Commodification of Loveand Relationships

Commodification of Romance

THE CIRCULATION OF COMMODITIES

bull Marx Societies are an evolutionary process

bull In nomadic societies people owned little property

bull Most items they created had use-value to people who produced them

bull As societies evolved exchange value became more important than use value

THE CIRCULATION OF COMMODITIES

bull Simplest form of exchange was barter system

bull Economies became more complex and money was introduced

bull Process went through stages in which people continuously moved from the 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 is so worshiped that objects are evaluated in terms of monetary value

bull Money is used to express the value of all commodities

THE ACCUMULATION OF CAPITAL

bull Marx described 2 functions of money

1 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 In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed

THE ACCUMULATION OF CAPITAL

2 Buying in order to sell

bull Money can become capitalbull Accumulated goods for the production of

other goods

bull M-C-M Motivating force is exchange value rather than use-value

bull Result 2 Worthless products

3 Dangerous products

4 Waste

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 12: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

THE COMMODIFICATION OF SOCIAL LIFE

bullCapitalism is dependent on individuals wanting more and more products

bullCapitalists generate more profit by expanding markets and selling more commodities

COMMODIFICATION OF SOCIAL LIFE

bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings

bull Becomes commodified Packaged and sold in the marketplace for profit

LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE

Commodification of Loveand Relationships

Commodification of Romance

THE CIRCULATION OF COMMODITIES

bull Marx Societies are an evolutionary process

bull In nomadic societies people owned little property

bull Most items they created had use-value to people who produced them

bull As societies evolved exchange value became more important than use value

THE CIRCULATION OF COMMODITIES

bull Simplest form of exchange was barter system

bull Economies became more complex and money was introduced

bull Process went through stages in which people continuously moved from the 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 is so worshiped that objects are evaluated in terms of monetary value

bull Money is used to express the value of all commodities

THE ACCUMULATION OF CAPITAL

bull Marx described 2 functions of money

1 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 In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed

THE ACCUMULATION OF CAPITAL

2 Buying in order to sell

bull Money can become capitalbull Accumulated goods for the production of

other goods

bull M-C-M Motivating force is exchange value rather than use-value

bull Result 2 Worthless products

3 Dangerous products

4 Waste

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 13: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

COMMODIFICATION OF SOCIAL LIFE

bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings

bull Becomes commodified Packaged and sold in the marketplace for profit

LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE

Commodification of Loveand Relationships

Commodification of Romance

THE CIRCULATION OF COMMODITIES

bull Marx Societies are an evolutionary process

bull In nomadic societies people owned little property

bull Most items they created had use-value to people who produced them

bull As societies evolved exchange value became more important than use value

THE CIRCULATION OF COMMODITIES

bull Simplest form of exchange was barter system

bull Economies became more complex and money was introduced

bull Process went through stages in which people continuously moved from the 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 is so worshiped that objects are evaluated in terms of monetary value

bull Money is used to express the value of all commodities

THE ACCUMULATION OF CAPITAL

bull Marx described 2 functions of money

1 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 In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed

THE ACCUMULATION OF CAPITAL

2 Buying in order to sell

bull Money can become capitalbull Accumulated goods for the production of

other goods

bull M-C-M Motivating force is exchange value rather than use-value

bull Result 2 Worthless products

3 Dangerous products

4 Waste

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 14: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE

Commodification of Loveand Relationships

Commodification of Romance

THE CIRCULATION OF COMMODITIES

bull Marx Societies are an evolutionary process

bull In nomadic societies people owned little property

bull Most items they created had use-value to people who produced them

bull As societies evolved exchange value became more important than use value

THE CIRCULATION OF COMMODITIES

bull Simplest form of exchange was barter system

bull Economies became more complex and money was introduced

bull Process went through stages in which people continuously moved from the 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 is so worshiped that objects are evaluated in terms of monetary value

bull Money is used to express the value of all commodities

THE ACCUMULATION OF CAPITAL

bull Marx described 2 functions of money

1 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 In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed

THE ACCUMULATION OF CAPITAL

2 Buying in order to sell

bull Money can become capitalbull Accumulated goods for the production of

other goods

bull M-C-M Motivating force is exchange value rather than use-value

bull Result 2 Worthless products

3 Dangerous products

4 Waste

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 15: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

THE CIRCULATION OF COMMODITIES

bull Marx Societies are an evolutionary process

bull In nomadic societies people owned little property

bull Most items they created had use-value to people who produced them

bull As societies evolved exchange value became more important than use value

THE CIRCULATION OF COMMODITIES

bull Simplest form of exchange was barter system

bull Economies became more complex and money was introduced

bull Process went through stages in which people continuously moved from the 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 is so worshiped that objects are evaluated in terms of monetary value

bull Money is used to express the value of all commodities

THE ACCUMULATION OF CAPITAL

bull Marx described 2 functions of money

1 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 In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed

THE ACCUMULATION OF CAPITAL

2 Buying in order to sell

bull Money can become capitalbull Accumulated goods for the production of

other goods

bull M-C-M Motivating force is exchange value rather than use-value

bull Result 2 Worthless products

3 Dangerous products

4 Waste

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 16: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

THE CIRCULATION OF COMMODITIES

bull Simplest form of exchange was barter system

bull Economies became more complex and money was introduced

bull Process went through stages in which people continuously moved from the 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 is so worshiped that objects are evaluated in terms of monetary value

bull Money is used to express the value of all commodities

THE ACCUMULATION OF CAPITAL

bull Marx described 2 functions of money

1 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 In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed

THE ACCUMULATION OF CAPITAL

2 Buying in order to sell

bull Money can become capitalbull Accumulated goods for the production of

other goods

bull M-C-M Motivating force is exchange value rather than use-value

bull Result 2 Worthless products

3 Dangerous products

4 Waste

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 17: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

THE FETISHISM OF COMMODITIES

bull Detachment of objects from human efforts that created them

bull Money is so worshiped that objects are evaluated in terms of monetary value

bull Money is used to express the value of all commodities

THE ACCUMULATION OF CAPITAL

bull Marx described 2 functions of money

1 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 In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed

THE ACCUMULATION OF CAPITAL

2 Buying in order to sell

bull Money can become capitalbull Accumulated goods for the production of

other goods

bull M-C-M Motivating force is exchange value rather than use-value

bull Result 2 Worthless products

3 Dangerous products

4 Waste

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 18: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

THE ACCUMULATION OF CAPITAL

bull Marx described 2 functions of money

1 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 In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed

THE ACCUMULATION OF CAPITAL

2 Buying in order to sell

bull Money can become capitalbull Accumulated goods for the production of

other goods

bull M-C-M Motivating force is exchange value rather than use-value

bull Result 2 Worthless products

3 Dangerous products

4 Waste

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 19: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

THE ACCUMULATION OF CAPITAL

2 Buying in order to sell

bull Money can become capitalbull Accumulated goods for the production of

other goods

bull M-C-M Motivating force is exchange value rather than use-value

bull Result 2 Worthless products

3 Dangerous products

4 Waste

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 20: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

THE ACCUMULATION OF CAPITAL

bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely

because the M does not disappear

bull Its magnitude increases as profit-making continuously expands

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 21: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

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

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 22: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

THE ARMY OF THE UNEMPLOYED

bull The army of the unemployed also reduces class solidarity by

bull Creating conflict (competition for jobs) within the proletariat

bull Making it less likely that the proletariat will organize against the capitalists

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 23: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

PURCHASING LABOR-POWER

bull Capitalism brought together

bull Owners of the means of production

bull and

bull Workers who could sell their labor-power

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 24: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

PURCHASING LABOR-POWER

bull Marx In order to maintain a fresh supply of labor-power in the market

bull Workers must be able to raise their children

bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers

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)

Page 25: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

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)

Page 26: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

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)

Page 27: ECONOMIC ANALYSES – CHAPTER 4 KARL MARX. ECONOMIC ANALYSES Marx’s theories of economy and society are presented primarily in Das Kapital Theories continue.

SOCIAL CHANGE

ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)


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