@book{marx2018capital,
title={Capital volume 1},
author={Marx, Karl},
year={2018},
publisher={Lulu. com}
}
A book about the political economy.
Personal analysis of the underlying ideas of the book (aka reverse engineering the book).
Marx operate in a very static setting; defining value using exchange value, not taking into account dynamics; then he associates value with labor (what about labor productivity, machines, etc)
Marx System: …
Labor as the only creator of use value. What is the consequence for Marxist theory improvement in machinary or process? It brings down exchange-value (prices) →
Does Marx understand price; supply and demand?
What is Capital for Marx?
- Marx capital a more general concept than money; being money only a form.
- Marx capital M → M’. Money → Money’; Investment; Buying and Selling**.** Marx sees capital as a process; not a thing.
Claim: Capital cannot be generated throught circulation. [A central cliam in Marx System]
Marx Assumption: The value of a comoddity is the social labour contained in it.
Labor theory of value.
Claim: The capitalist process start with the purchase of labor-power.
Reader: Reader Research Into Pay Workers