
Class 01 - Introduction
Reading Marx's Capital (audio)
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The Importance of Labor in Capitalism
The introduction of power looms into England, for example, probably reduced by one half the labor required to convert a given quantity of yarn into woven fabric. In order to do this, the English hand loom weaver needed the same amount of labor time as before. The product of his individual hour of labor now only represented half an hour of social labor and consequently fell to one half of its former value. This is 130. If the labor time required for its production also remained constant, but the latter changes with every variation in the productivity of labor. And then he reiterates, and you often find Marx doing this, by the way. He kind of figures that you didn't get the hand
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