Reading Capital With Comrades #4: MR. MONEYBAGS (Ch. 4-6)
Apr 26, 2021
Delve into the intricacies of capitalism as concepts like surplus value and labor power take center stage. The discussion reveals the stark economic realities highlighted by the pandemic, where rising foreclosures contrast with billionaire wealth. Unravel the distinctions between money and capital through Marx's lens, while examining how labor power emerges as a unique commodity. The episode critiques the high costs of education in the U.S., comparing it with global approaches that treat education as a right. Explore the ongoing class struggles that shape our economic landscape.
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C-M-C vs. M-C-M'
- The C-M-C circuit prioritizes use-value, starting and ending with a commodity.
- The M-C-M' circuit prioritizes exchange-value, aiming for monetary increase.
Surplus Value
- Capital expands value through the M-C-M' circuit (Money-Commodity-More Money).
- Surplus value (ΔM) is the difference between the initial and final money amounts.
Types of Capital
- The M-C-M’ circuit applies to merchant, productive, and finance capital.
- Finance capital appears as M-M’ but involves value production between the money exchanges.
