6min chapter

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PoliEdPod 1: Marx and Political Economy (Introduction to Class Unity #1)

Class Unity

CHAPTER

The Coercive Law of Competition

In the course of profit seeking, capitalists will try to use the most advanced, most state of the art technique as possible in order to produce as much as they can. And eventually, every other capitalist will be compelled to do so. Marx says that this throws capitalist production out of its old ruts and it compels capital to do new better, faster, more. That's what he means when he says the privilege of our capitalist is not long duration.

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