Introduction to Theory: Karl Marx - Value, Price and Profit

In this third installment of our Introduction to Theory series, Maxximilian Seijo explores the economic theory of Karl Marx. Specifically, Maxx investigates Marx's 1865 speech and posthumously published book Value, Price and Profit.

This episode, drawn from Maxx's pedagogy at the University of California, Santa Barbara, interrogates the relationship between Marx's labour theory of value and the capitalist mode of production. Through close attention to Marx's theory of price, Maxx teases out (and ultimately contrasts) Marx's classical formulations from the Money on the Left Editorial Collective's heterodox economic foundations.

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