Marx and Capital: The Concept, The Book, The History (audio) cover image

Lecture 1 - Capital as Value in Motion

Marx and Capital: The Concept, The Book, The History (audio)

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Capitalism and the Commodity Market

Capitalism cannot work unless there is already a functioning commodity market. So the capitalist goes and says alright there are workers out there who are exchanging their labor of wage. I can hire them. There are commodities out there I can buy in terms of energy inputs and cotton or whatever. And I can buy all of them. I'll take free goods if you want and if they are there. Basically I buy those commodities and I then say alright with a given technology I can put the labor together with the means of production and I can make a new commodity. That new commodity is then congealed labor time. That is, labor time has been embodied in that commodity. But Marx called socially necessary

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