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ECONOMIC ANALYSES ndash CHAPTER 4
KARL MARX
ECONOMIC ANALYSES
bull Marxrsquos theories of economy and society are presented primarily in Das Kapital
bull Theories continue to influence sociology
3
BASEmdashSUPERSTRUCTURE RELATIONSHIP
Ideological Superstructurereligion politics the state culture art the family
Economic Base(eg Feudalism capitalism communism)
4
BASE-SUPERSTRUCTURE BASE-SUPERSTRUCTURE CAPITALIST IDEOLOGIESCAPITALIST IDEOLOGIES
Democratic Liberties
Religious Freedom
Belief Meritocracy-American Dream
Choosing to Marry for Love
Economic Relations in Free Market Capitalism
Consumer Freedom to Buy
We are self-interested actors
BASE AND SUPERSTRUCTURE
bull Relationship of superstructure and base
bull Dialectical
bull Mutual interdependence
bull Marx wanted to analyze the core elements of capitalist societiesbull Commodities (items bought and sold)
COMMODITIES
bullMarx defined commodities as
bullExternal objects
bullCapable of satisfying human needs
THE VALUE OF COMMODITIES
bull Two important criteriandash Use-value a function of the actual physical properties of a
commoditybull The purpose to which it can be putbull Its value in consumption
ndash Exchange-valuebull The worth of the commodity relative to other commoditiesbull In modern societies exchange-value is expressed in
monetary terms (money)
ndash Use value equals the qualitative valuendash Exchange-value equals the quantitative value
THE VALUE OF COMMODITIES
commodity ndash noun1 A thing that exists ldquooutside of usrdquo that we
exchange for something we want or need2 Something with use-value and exchange-value
USE VALUE
=
=
Protect your feet when walking =
$65 or $20
=
(Of little use to the capitalist)
(Potential profits for the capitalist)
EXCHANGE VALUE
THE VALUE OF COMMODITIES
bullAccording to Marx in capitalist societies
bullAlmost all production is directed at exchange-value rather than use-value
THE VALUE OF COMMODITIES
bull Surplus valuebull The difference between the exchange value of
a commodity and the cost of producing it ndash including the raw materials tools and labor
bull Marx focused on labor bull He claimed that the exchange value of any item
was determined by the socially necessary labor time required for its production
THE VALUE OF COMMODITIES
bull Labor time amp length of the work day
bull The greater the number of hours employees are routinely expected to work for a given wage
bull The cheaper the commodities and
bull The greater the potential benefit for the capitalist
THE COMMODIFICATION OF SOCIAL LIFE
bullCapitalism is dependent on individuals wanting more and more products
bullCapitalists generate more profit by expanding markets and selling more commodities
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in the marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Marx Societies are an evolutionary process
bull In nomadic societies people owned little property
bull Most items they created had use-value to people who produced them
bull As societies evolved exchange value became more important than use value
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange was barter system
bull Economies became more complex and money was introduced
bull Process went through stages in which people continuously moved from the role of buyer to seller and back again (Circulation of Commodities)
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money is so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money
1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull Money can become capitalbull Accumulated goods for the production of
other goods
bull M-C-M Motivating force is exchange value rather than use-value
bull Result 2 Worthless products
3 Dangerous products
4 Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
ECONOMIC ANALYSES
bull Marxrsquos theories of economy and society are presented primarily in Das Kapital
bull Theories continue to influence sociology
3
BASEmdashSUPERSTRUCTURE RELATIONSHIP
Ideological Superstructurereligion politics the state culture art the family
Economic Base(eg Feudalism capitalism communism)
4
BASE-SUPERSTRUCTURE BASE-SUPERSTRUCTURE CAPITALIST IDEOLOGIESCAPITALIST IDEOLOGIES
Democratic Liberties
Religious Freedom
Belief Meritocracy-American Dream
Choosing to Marry for Love
Economic Relations in Free Market Capitalism
Consumer Freedom to Buy
We are self-interested actors
BASE AND SUPERSTRUCTURE
bull Relationship of superstructure and base
bull Dialectical
bull Mutual interdependence
bull Marx wanted to analyze the core elements of capitalist societiesbull Commodities (items bought and sold)
COMMODITIES
bullMarx defined commodities as
bullExternal objects
bullCapable of satisfying human needs
THE VALUE OF COMMODITIES
bull Two important criteriandash Use-value a function of the actual physical properties of a
commoditybull The purpose to which it can be putbull Its value in consumption
ndash Exchange-valuebull The worth of the commodity relative to other commoditiesbull In modern societies exchange-value is expressed in
monetary terms (money)
ndash Use value equals the qualitative valuendash Exchange-value equals the quantitative value
THE VALUE OF COMMODITIES
commodity ndash noun1 A thing that exists ldquooutside of usrdquo that we
exchange for something we want or need2 Something with use-value and exchange-value
USE VALUE
=
=
Protect your feet when walking =
$65 or $20
=
(Of little use to the capitalist)
(Potential profits for the capitalist)
EXCHANGE VALUE
THE VALUE OF COMMODITIES
bullAccording to Marx in capitalist societies
bullAlmost all production is directed at exchange-value rather than use-value
THE VALUE OF COMMODITIES
bull Surplus valuebull The difference between the exchange value of
a commodity and the cost of producing it ndash including the raw materials tools and labor
bull Marx focused on labor bull He claimed that the exchange value of any item
was determined by the socially necessary labor time required for its production
THE VALUE OF COMMODITIES
bull Labor time amp length of the work day
bull The greater the number of hours employees are routinely expected to work for a given wage
bull The cheaper the commodities and
bull The greater the potential benefit for the capitalist
THE COMMODIFICATION OF SOCIAL LIFE
bullCapitalism is dependent on individuals wanting more and more products
bullCapitalists generate more profit by expanding markets and selling more commodities
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in the marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Marx Societies are an evolutionary process
bull In nomadic societies people owned little property
bull Most items they created had use-value to people who produced them
bull As societies evolved exchange value became more important than use value
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange was barter system
bull Economies became more complex and money was introduced
bull Process went through stages in which people continuously moved from the role of buyer to seller and back again (Circulation of Commodities)
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money is so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money
1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull Money can become capitalbull Accumulated goods for the production of
other goods
bull M-C-M Motivating force is exchange value rather than use-value
bull Result 2 Worthless products
3 Dangerous products
4 Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
3
BASEmdashSUPERSTRUCTURE RELATIONSHIP
Ideological Superstructurereligion politics the state culture art the family
Economic Base(eg Feudalism capitalism communism)
4
BASE-SUPERSTRUCTURE BASE-SUPERSTRUCTURE CAPITALIST IDEOLOGIESCAPITALIST IDEOLOGIES
Democratic Liberties
Religious Freedom
Belief Meritocracy-American Dream
Choosing to Marry for Love
Economic Relations in Free Market Capitalism
Consumer Freedom to Buy
We are self-interested actors
BASE AND SUPERSTRUCTURE
bull Relationship of superstructure and base
bull Dialectical
bull Mutual interdependence
bull Marx wanted to analyze the core elements of capitalist societiesbull Commodities (items bought and sold)
COMMODITIES
bullMarx defined commodities as
bullExternal objects
bullCapable of satisfying human needs
THE VALUE OF COMMODITIES
bull Two important criteriandash Use-value a function of the actual physical properties of a
commoditybull The purpose to which it can be putbull Its value in consumption
ndash Exchange-valuebull The worth of the commodity relative to other commoditiesbull In modern societies exchange-value is expressed in
monetary terms (money)
ndash Use value equals the qualitative valuendash Exchange-value equals the quantitative value
THE VALUE OF COMMODITIES
commodity ndash noun1 A thing that exists ldquooutside of usrdquo that we
exchange for something we want or need2 Something with use-value and exchange-value
USE VALUE
=
=
Protect your feet when walking =
$65 or $20
=
(Of little use to the capitalist)
(Potential profits for the capitalist)
EXCHANGE VALUE
THE VALUE OF COMMODITIES
bullAccording to Marx in capitalist societies
bullAlmost all production is directed at exchange-value rather than use-value
THE VALUE OF COMMODITIES
bull Surplus valuebull The difference between the exchange value of
a commodity and the cost of producing it ndash including the raw materials tools and labor
bull Marx focused on labor bull He claimed that the exchange value of any item
was determined by the socially necessary labor time required for its production
THE VALUE OF COMMODITIES
bull Labor time amp length of the work day
bull The greater the number of hours employees are routinely expected to work for a given wage
bull The cheaper the commodities and
bull The greater the potential benefit for the capitalist
THE COMMODIFICATION OF SOCIAL LIFE
bullCapitalism is dependent on individuals wanting more and more products
bullCapitalists generate more profit by expanding markets and selling more commodities
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in the marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Marx Societies are an evolutionary process
bull In nomadic societies people owned little property
bull Most items they created had use-value to people who produced them
bull As societies evolved exchange value became more important than use value
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange was barter system
bull Economies became more complex and money was introduced
bull Process went through stages in which people continuously moved from the role of buyer to seller and back again (Circulation of Commodities)
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money is so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money
1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull Money can become capitalbull Accumulated goods for the production of
other goods
bull M-C-M Motivating force is exchange value rather than use-value
bull Result 2 Worthless products
3 Dangerous products
4 Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
4
BASE-SUPERSTRUCTURE BASE-SUPERSTRUCTURE CAPITALIST IDEOLOGIESCAPITALIST IDEOLOGIES
Democratic Liberties
Religious Freedom
Belief Meritocracy-American Dream
Choosing to Marry for Love
Economic Relations in Free Market Capitalism
Consumer Freedom to Buy
We are self-interested actors
BASE AND SUPERSTRUCTURE
bull Relationship of superstructure and base
bull Dialectical
bull Mutual interdependence
bull Marx wanted to analyze the core elements of capitalist societiesbull Commodities (items bought and sold)
COMMODITIES
bullMarx defined commodities as
bullExternal objects
bullCapable of satisfying human needs
THE VALUE OF COMMODITIES
bull Two important criteriandash Use-value a function of the actual physical properties of a
commoditybull The purpose to which it can be putbull Its value in consumption
ndash Exchange-valuebull The worth of the commodity relative to other commoditiesbull In modern societies exchange-value is expressed in
monetary terms (money)
ndash Use value equals the qualitative valuendash Exchange-value equals the quantitative value
THE VALUE OF COMMODITIES
commodity ndash noun1 A thing that exists ldquooutside of usrdquo that we
exchange for something we want or need2 Something with use-value and exchange-value
USE VALUE
=
=
Protect your feet when walking =
$65 or $20
=
(Of little use to the capitalist)
(Potential profits for the capitalist)
EXCHANGE VALUE
THE VALUE OF COMMODITIES
bullAccording to Marx in capitalist societies
bullAlmost all production is directed at exchange-value rather than use-value
THE VALUE OF COMMODITIES
bull Surplus valuebull The difference between the exchange value of
a commodity and the cost of producing it ndash including the raw materials tools and labor
bull Marx focused on labor bull He claimed that the exchange value of any item
was determined by the socially necessary labor time required for its production
THE VALUE OF COMMODITIES
bull Labor time amp length of the work day
bull The greater the number of hours employees are routinely expected to work for a given wage
bull The cheaper the commodities and
bull The greater the potential benefit for the capitalist
THE COMMODIFICATION OF SOCIAL LIFE
bullCapitalism is dependent on individuals wanting more and more products
bullCapitalists generate more profit by expanding markets and selling more commodities
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in the marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Marx Societies are an evolutionary process
bull In nomadic societies people owned little property
bull Most items they created had use-value to people who produced them
bull As societies evolved exchange value became more important than use value
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange was barter system
bull Economies became more complex and money was introduced
bull Process went through stages in which people continuously moved from the role of buyer to seller and back again (Circulation of Commodities)
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money is so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money
1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull Money can become capitalbull Accumulated goods for the production of
other goods
bull M-C-M Motivating force is exchange value rather than use-value
bull Result 2 Worthless products
3 Dangerous products
4 Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
BASE AND SUPERSTRUCTURE
bull Relationship of superstructure and base
bull Dialectical
bull Mutual interdependence
bull Marx wanted to analyze the core elements of capitalist societiesbull Commodities (items bought and sold)
COMMODITIES
bullMarx defined commodities as
bullExternal objects
bullCapable of satisfying human needs
THE VALUE OF COMMODITIES
bull Two important criteriandash Use-value a function of the actual physical properties of a
commoditybull The purpose to which it can be putbull Its value in consumption
ndash Exchange-valuebull The worth of the commodity relative to other commoditiesbull In modern societies exchange-value is expressed in
monetary terms (money)
ndash Use value equals the qualitative valuendash Exchange-value equals the quantitative value
THE VALUE OF COMMODITIES
commodity ndash noun1 A thing that exists ldquooutside of usrdquo that we
exchange for something we want or need2 Something with use-value and exchange-value
USE VALUE
=
=
Protect your feet when walking =
$65 or $20
=
(Of little use to the capitalist)
(Potential profits for the capitalist)
EXCHANGE VALUE
THE VALUE OF COMMODITIES
bullAccording to Marx in capitalist societies
bullAlmost all production is directed at exchange-value rather than use-value
THE VALUE OF COMMODITIES
bull Surplus valuebull The difference between the exchange value of
a commodity and the cost of producing it ndash including the raw materials tools and labor
bull Marx focused on labor bull He claimed that the exchange value of any item
was determined by the socially necessary labor time required for its production
THE VALUE OF COMMODITIES
bull Labor time amp length of the work day
bull The greater the number of hours employees are routinely expected to work for a given wage
bull The cheaper the commodities and
bull The greater the potential benefit for the capitalist
THE COMMODIFICATION OF SOCIAL LIFE
bullCapitalism is dependent on individuals wanting more and more products
bullCapitalists generate more profit by expanding markets and selling more commodities
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in the marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Marx Societies are an evolutionary process
bull In nomadic societies people owned little property
bull Most items they created had use-value to people who produced them
bull As societies evolved exchange value became more important than use value
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange was barter system
bull Economies became more complex and money was introduced
bull Process went through stages in which people continuously moved from the role of buyer to seller and back again (Circulation of Commodities)
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money is so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money
1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull Money can become capitalbull Accumulated goods for the production of
other goods
bull M-C-M Motivating force is exchange value rather than use-value
bull Result 2 Worthless products
3 Dangerous products
4 Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
COMMODITIES
bullMarx defined commodities as
bullExternal objects
bullCapable of satisfying human needs
THE VALUE OF COMMODITIES
bull Two important criteriandash Use-value a function of the actual physical properties of a
commoditybull The purpose to which it can be putbull Its value in consumption
ndash Exchange-valuebull The worth of the commodity relative to other commoditiesbull In modern societies exchange-value is expressed in
monetary terms (money)
ndash Use value equals the qualitative valuendash Exchange-value equals the quantitative value
THE VALUE OF COMMODITIES
commodity ndash noun1 A thing that exists ldquooutside of usrdquo that we
exchange for something we want or need2 Something with use-value and exchange-value
USE VALUE
=
=
Protect your feet when walking =
$65 or $20
=
(Of little use to the capitalist)
(Potential profits for the capitalist)
EXCHANGE VALUE
THE VALUE OF COMMODITIES
bullAccording to Marx in capitalist societies
bullAlmost all production is directed at exchange-value rather than use-value
THE VALUE OF COMMODITIES
bull Surplus valuebull The difference between the exchange value of
a commodity and the cost of producing it ndash including the raw materials tools and labor
bull Marx focused on labor bull He claimed that the exchange value of any item
was determined by the socially necessary labor time required for its production
THE VALUE OF COMMODITIES
bull Labor time amp length of the work day
bull The greater the number of hours employees are routinely expected to work for a given wage
bull The cheaper the commodities and
bull The greater the potential benefit for the capitalist
THE COMMODIFICATION OF SOCIAL LIFE
bullCapitalism is dependent on individuals wanting more and more products
bullCapitalists generate more profit by expanding markets and selling more commodities
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in the marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Marx Societies are an evolutionary process
bull In nomadic societies people owned little property
bull Most items they created had use-value to people who produced them
bull As societies evolved exchange value became more important than use value
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange was barter system
bull Economies became more complex and money was introduced
bull Process went through stages in which people continuously moved from the role of buyer to seller and back again (Circulation of Commodities)
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money is so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money
1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull Money can become capitalbull Accumulated goods for the production of
other goods
bull M-C-M Motivating force is exchange value rather than use-value
bull Result 2 Worthless products
3 Dangerous products
4 Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE VALUE OF COMMODITIES
bull Two important criteriandash Use-value a function of the actual physical properties of a
commoditybull The purpose to which it can be putbull Its value in consumption
ndash Exchange-valuebull The worth of the commodity relative to other commoditiesbull In modern societies exchange-value is expressed in
monetary terms (money)
ndash Use value equals the qualitative valuendash Exchange-value equals the quantitative value
THE VALUE OF COMMODITIES
commodity ndash noun1 A thing that exists ldquooutside of usrdquo that we
exchange for something we want or need2 Something with use-value and exchange-value
USE VALUE
=
=
Protect your feet when walking =
$65 or $20
=
(Of little use to the capitalist)
(Potential profits for the capitalist)
EXCHANGE VALUE
THE VALUE OF COMMODITIES
bullAccording to Marx in capitalist societies
bullAlmost all production is directed at exchange-value rather than use-value
THE VALUE OF COMMODITIES
bull Surplus valuebull The difference between the exchange value of
a commodity and the cost of producing it ndash including the raw materials tools and labor
bull Marx focused on labor bull He claimed that the exchange value of any item
was determined by the socially necessary labor time required for its production
THE VALUE OF COMMODITIES
bull Labor time amp length of the work day
bull The greater the number of hours employees are routinely expected to work for a given wage
bull The cheaper the commodities and
bull The greater the potential benefit for the capitalist
THE COMMODIFICATION OF SOCIAL LIFE
bullCapitalism is dependent on individuals wanting more and more products
bullCapitalists generate more profit by expanding markets and selling more commodities
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in the marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Marx Societies are an evolutionary process
bull In nomadic societies people owned little property
bull Most items they created had use-value to people who produced them
bull As societies evolved exchange value became more important than use value
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange was barter system
bull Economies became more complex and money was introduced
bull Process went through stages in which people continuously moved from the role of buyer to seller and back again (Circulation of Commodities)
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money is so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money
1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull Money can become capitalbull Accumulated goods for the production of
other goods
bull M-C-M Motivating force is exchange value rather than use-value
bull Result 2 Worthless products
3 Dangerous products
4 Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE VALUE OF COMMODITIES
commodity ndash noun1 A thing that exists ldquooutside of usrdquo that we
exchange for something we want or need2 Something with use-value and exchange-value
USE VALUE
=
=
Protect your feet when walking =
$65 or $20
=
(Of little use to the capitalist)
(Potential profits for the capitalist)
EXCHANGE VALUE
THE VALUE OF COMMODITIES
bullAccording to Marx in capitalist societies
bullAlmost all production is directed at exchange-value rather than use-value
THE VALUE OF COMMODITIES
bull Surplus valuebull The difference between the exchange value of
a commodity and the cost of producing it ndash including the raw materials tools and labor
bull Marx focused on labor bull He claimed that the exchange value of any item
was determined by the socially necessary labor time required for its production
THE VALUE OF COMMODITIES
bull Labor time amp length of the work day
bull The greater the number of hours employees are routinely expected to work for a given wage
bull The cheaper the commodities and
bull The greater the potential benefit for the capitalist
THE COMMODIFICATION OF SOCIAL LIFE
bullCapitalism is dependent on individuals wanting more and more products
bullCapitalists generate more profit by expanding markets and selling more commodities
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in the marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Marx Societies are an evolutionary process
bull In nomadic societies people owned little property
bull Most items they created had use-value to people who produced them
bull As societies evolved exchange value became more important than use value
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange was barter system
bull Economies became more complex and money was introduced
bull Process went through stages in which people continuously moved from the role of buyer to seller and back again (Circulation of Commodities)
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money is so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money
1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull Money can become capitalbull Accumulated goods for the production of
other goods
bull M-C-M Motivating force is exchange value rather than use-value
bull Result 2 Worthless products
3 Dangerous products
4 Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE VALUE OF COMMODITIES
bullAccording to Marx in capitalist societies
bullAlmost all production is directed at exchange-value rather than use-value
THE VALUE OF COMMODITIES
bull Surplus valuebull The difference between the exchange value of
a commodity and the cost of producing it ndash including the raw materials tools and labor
bull Marx focused on labor bull He claimed that the exchange value of any item
was determined by the socially necessary labor time required for its production
THE VALUE OF COMMODITIES
bull Labor time amp length of the work day
bull The greater the number of hours employees are routinely expected to work for a given wage
bull The cheaper the commodities and
bull The greater the potential benefit for the capitalist
THE COMMODIFICATION OF SOCIAL LIFE
bullCapitalism is dependent on individuals wanting more and more products
bullCapitalists generate more profit by expanding markets and selling more commodities
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in the marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Marx Societies are an evolutionary process
bull In nomadic societies people owned little property
bull Most items they created had use-value to people who produced them
bull As societies evolved exchange value became more important than use value
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange was barter system
bull Economies became more complex and money was introduced
bull Process went through stages in which people continuously moved from the role of buyer to seller and back again (Circulation of Commodities)
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money is so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money
1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull Money can become capitalbull Accumulated goods for the production of
other goods
bull M-C-M Motivating force is exchange value rather than use-value
bull Result 2 Worthless products
3 Dangerous products
4 Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE VALUE OF COMMODITIES
bull Surplus valuebull The difference between the exchange value of
a commodity and the cost of producing it ndash including the raw materials tools and labor
bull Marx focused on labor bull He claimed that the exchange value of any item
was determined by the socially necessary labor time required for its production
THE VALUE OF COMMODITIES
bull Labor time amp length of the work day
bull The greater the number of hours employees are routinely expected to work for a given wage
bull The cheaper the commodities and
bull The greater the potential benefit for the capitalist
THE COMMODIFICATION OF SOCIAL LIFE
bullCapitalism is dependent on individuals wanting more and more products
bullCapitalists generate more profit by expanding markets and selling more commodities
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in the marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Marx Societies are an evolutionary process
bull In nomadic societies people owned little property
bull Most items they created had use-value to people who produced them
bull As societies evolved exchange value became more important than use value
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange was barter system
bull Economies became more complex and money was introduced
bull Process went through stages in which people continuously moved from the role of buyer to seller and back again (Circulation of Commodities)
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money is so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money
1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull Money can become capitalbull Accumulated goods for the production of
other goods
bull M-C-M Motivating force is exchange value rather than use-value
bull Result 2 Worthless products
3 Dangerous products
4 Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE VALUE OF COMMODITIES
bull Labor time amp length of the work day
bull The greater the number of hours employees are routinely expected to work for a given wage
bull The cheaper the commodities and
bull The greater the potential benefit for the capitalist
THE COMMODIFICATION OF SOCIAL LIFE
bullCapitalism is dependent on individuals wanting more and more products
bullCapitalists generate more profit by expanding markets and selling more commodities
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in the marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Marx Societies are an evolutionary process
bull In nomadic societies people owned little property
bull Most items they created had use-value to people who produced them
bull As societies evolved exchange value became more important than use value
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange was barter system
bull Economies became more complex and money was introduced
bull Process went through stages in which people continuously moved from the role of buyer to seller and back again (Circulation of Commodities)
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money is so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money
1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull Money can become capitalbull Accumulated goods for the production of
other goods
bull M-C-M Motivating force is exchange value rather than use-value
bull Result 2 Worthless products
3 Dangerous products
4 Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE COMMODIFICATION OF SOCIAL LIFE
bullCapitalism is dependent on individuals wanting more and more products
bullCapitalists generate more profit by expanding markets and selling more commodities
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in the marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Marx Societies are an evolutionary process
bull In nomadic societies people owned little property
bull Most items they created had use-value to people who produced them
bull As societies evolved exchange value became more important than use value
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange was barter system
bull Economies became more complex and money was introduced
bull Process went through stages in which people continuously moved from the role of buyer to seller and back again (Circulation of Commodities)
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money is so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money
1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull Money can become capitalbull Accumulated goods for the production of
other goods
bull M-C-M Motivating force is exchange value rather than use-value
bull Result 2 Worthless products
3 Dangerous products
4 Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
COMMODIFICATION OF SOCIAL LIFE
bull More and more of social life bull Relationshipsbull Institutionsbull Desiresbull Feelings
bull Becomes commodified Packaged and sold in the marketplace for profit
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Marx Societies are an evolutionary process
bull In nomadic societies people owned little property
bull Most items they created had use-value to people who produced them
bull As societies evolved exchange value became more important than use value
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange was barter system
bull Economies became more complex and money was introduced
bull Process went through stages in which people continuously moved from the role of buyer to seller and back again (Circulation of Commodities)
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money is so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money
1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull Money can become capitalbull Accumulated goods for the production of
other goods
bull M-C-M Motivating force is exchange value rather than use-value
bull Result 2 Worthless products
3 Dangerous products
4 Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
LOVE IN CAPITALISM ldquoSHOPPINGrdquo FOR LOVE
Commodification of Loveand Relationships
Commodification of Romance
THE CIRCULATION OF COMMODITIES
bull Marx Societies are an evolutionary process
bull In nomadic societies people owned little property
bull Most items they created had use-value to people who produced them
bull As societies evolved exchange value became more important than use value
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange was barter system
bull Economies became more complex and money was introduced
bull Process went through stages in which people continuously moved from the role of buyer to seller and back again (Circulation of Commodities)
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money is so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money
1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull Money can become capitalbull Accumulated goods for the production of
other goods
bull M-C-M Motivating force is exchange value rather than use-value
bull Result 2 Worthless products
3 Dangerous products
4 Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE CIRCULATION OF COMMODITIES
bull Marx Societies are an evolutionary process
bull In nomadic societies people owned little property
bull Most items they created had use-value to people who produced them
bull As societies evolved exchange value became more important than use value
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange was barter system
bull Economies became more complex and money was introduced
bull Process went through stages in which people continuously moved from the role of buyer to seller and back again (Circulation of Commodities)
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money is so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money
1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull Money can become capitalbull Accumulated goods for the production of
other goods
bull M-C-M Motivating force is exchange value rather than use-value
bull Result 2 Worthless products
3 Dangerous products
4 Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE CIRCULATION OF COMMODITIES
bull Simplest form of exchange was barter system
bull Economies became more complex and money was introduced
bull Process went through stages in which people continuously moved from the role of buyer to seller and back again (Circulation of Commodities)
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money is so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money
1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull Money can become capitalbull Accumulated goods for the production of
other goods
bull M-C-M Motivating force is exchange value rather than use-value
bull Result 2 Worthless products
3 Dangerous products
4 Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE FETISHISM OF COMMODITIES
bull Detachment of objects from human efforts that created them
bull Money is so worshiped that objects are evaluated in terms of monetary value
bull Money is used to express the value of all commodities
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money
1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull Money can become capitalbull Accumulated goods for the production of
other goods
bull M-C-M Motivating force is exchange value rather than use-value
bull Result 2 Worthless products
3 Dangerous products
4 Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE ACCUMULATION OF CAPITAL
bull Marx described 2 functions of money
1 Selling in order to buy A commodity (C) is transformed into money
(M) then reconverted into a commodity (C)bull In summary C-M-C
bull In this form money is spentbull Resulting in use-value to the purchaserbull The commodity is consumed
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull Money can become capitalbull Accumulated goods for the production of
other goods
bull M-C-M Motivating force is exchange value rather than use-value
bull Result 2 Worthless products
3 Dangerous products
4 Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE ACCUMULATION OF CAPITAL
2 Buying in order to sell
bull Money can become capitalbull Accumulated goods for the production of
other goods
bull M-C-M Motivating force is exchange value rather than use-value
bull Result 2 Worthless products
3 Dangerous products
4 Waste
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE ACCUMULATION OF CAPITAL
bull Money unlike commodities is distinguishable only in amountbull The C-M-C transaction has a finite endbull By contrast the M-C-M continues indefinitely
because the M does not disappear
bull Its magnitude increases as profit-making continuously expands
bull ldquoMoney begets Moneyrdquo
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE ARMY OF THE UNEMPLOYED
bull The greater the size of army
bull The more capitalists can force workers to
bull Increase production and
bull Accept lower wages
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
THE ARMY OF THE UNEMPLOYED
bull The army of the unemployed also reduces class solidarity by
bull Creating conflict (competition for jobs) within the proletariat
bull Making it less likely that the proletariat will organize against the capitalists
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
PURCHASING LABOR-POWER
bull Capitalism brought together
bull Owners of the means of production
bull and
bull Workers who could sell their labor-power
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
PURCHASING LABOR-POWER
bull Marx In order to maintain a fresh supply of labor-power in the market
bull Workers must be able to raise their children
bull Food clothing fuel training and so on necessary to enable the workersrsquo children to replace current generation of workers
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
CLASS THEORY
bull Under capitalism there is antagonism between the buyers and sellers of labor power
bull Between exploiters and the exploited
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
SOCIAL CHANGE
Classes through history
bull Free men and slaves
bull Patrician and plebian
bull Baron and serf
bull Nobility and bourgeoisie
bull Bourgeoisie and proletariat
bull Exploiters and exploited
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)
SOCIAL CHANGE
ldquoThe history of all hitherto existing society is the history of class strugglesrdquo (Marx)