UNDERSTANDING CAPITALISM COMMODITIES Something produced in order - - PowerPoint PPT Presentation

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UNDERSTANDING CAPITALISM COMMODITIES Something produced in order - - PowerPoint PPT Presentation

Aug 21, 2023 162 likes •380 views

INTRODUCTION TO MARXISM #3 UNDERSTANDING CAPITALISM COMMODITIES Something produced in order to be exchanged COMMODITIES use value exchange value VALUE Labour theory of value Law of value Capitalism: Generalised commodity

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INTRODUCTION TO MARXISM #3

UNDERSTANDING CAPITALISM

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COMMODITIES

Something produced in order to be exchanged

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COMMODITIES

  • use value
  • exchange

value

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VALUE

Labour theory of value Law of value

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Generalised commodity production

Capitalism:

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Basic commodity exchange:

C – M – C

Capitalism:

M – C – M’ (M’ = M + M) What is the source of M?

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Generalised commodity production

This implies: Labour power has become a commodity

  • use value
  • exchange value
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SURPLUS VALUE

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SURPLUS VALUE

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SURPLUS VALUE

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SURPLUS VALUE

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C + V + S C + V + S

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  • The proportion of capital

invested in raw materials and machines

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C + V + S C + V + S

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TENDENCY OF RATE OF PROFIT TO FALL

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CRISIS OF OVERPRODUCTION

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COMPETITION LEADS TO MONOPOLY

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CONTRADICTIONS OF CAPITALISM