In 'Das Kapital, Volume I', Karl Marx presents a comprehensive critique of political economy, focusing on the nature of commodities, money, and capital. He argues that capitalism inherently exploits workers by paying them less than the value they produce, leading to surplus value. The book also examines the historical development of capitalism and its unsustainable nature due to internal contradictions.
In 'How Europe Underdeveloped Africa,' Walter Rodney argues that the underdevelopment of Africa was a direct result of European colonial exploitation and imperialism. He contends that the wealth created by African labor and resources was seized by European capitalist countries, while restrictions were imposed on Africa's ability to utilize its economic potential. The book details how the slave trade, colonial policies, and the division of Africa by European powers hindered African development and contributed to the growth of European capitalism. Rodney emphasizes that underdevelopment is not an intrinsic property of Africa but a historical product of capitalist expansion and imperialism[1][2][5].
Mike Davis's "Planet of Slums" offers a stark portrayal of global urbanization and its consequences. The book argues that rapid urbanization, particularly in developing countries, has led to the proliferation of vast informal settlements characterized by poverty, inadequate infrastructure, and social exclusion. Davis analyzes the historical and economic forces driving this phenomenon, highlighting the role of neoliberal policies and globalization. He critiques the failures of governments and international institutions to address the needs of slum dwellers, emphasizing the urgent need for alternative approaches to urban development. The book's powerful imagery and compelling narrative have made it a seminal text in urban studies and development discourse.
This book is a definitive refutation of nearly every type of socialism ever devised. Mises presents a wide-ranging analysis of society, comparing the results of socialist planning with those of free-market capitalism in all areas of life. He argues that a socialist commonwealth cannot apply economic calculation due to the absence of market prices, and defends capitalism against various criticisms. The book addresses issues such as economic inequality, the impossibility of monopoly in a free market system, and the inefficiencies of centrally planned systems.
Capitalism is a social phenomenon—yes, it is deeply grounded in concrete, material reality—but it’s a reality that ultimately relies on a series of tricks and spells, awash in deceit and veiled in subterfuge.
What is capitalism, exactly? How does it function? Why are we seemingly trapped inside of it? And, perhaps most importantly, how can we break free? Well, in this episode we’re taking a very deep dive into the crowning achievement of a man who spent his entire adult life seeking answers to these questions. Karl Marx wrote Capital Vol. 1 over ten years, spending countless hours researching and redrafting this crucial text until it was finally published in 1867. It incorporates vast amounts of historical data, concrete examples, and brilliant theorizing and is ultimately one of the most important books to ever be written. In it, Marx explains how capitalism functions. And in this episode, we’ve brought on a scholar and expert on Marx to walk us through it.
David Smith is Professor of Sociology at the University of Kansas and author of the book Marx’s Capital Illustrated. In this conversation, we explore Capital Vol. 1 through the lens of David’s accessible guide, illustrated by Phil Evans. We explore and unpack concepts like the commodity, use and exchange value, and abstract and concrete labor. We talk about what money is, what capital is, and unpack the famous concept of commodity fetishism and the role it plays as the guiding spirit of capital accumulation. We talk about how capital accumulates while taking a journey into the history of expropriation and the creation of the propertyless proletariat during the enclosures in Britain and in other parts of the world. We talk about how profit is generated by capitalists through our surplus labor, what the rate of profit is and why it has a tendency to fall, and finally, why Capital Vol. 1 remains an essential text for understanding the world around us.
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Intermission music: "November Rain" by Mount Eerie
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