Published on October 7, 2008
Welcome to Capitalism
You too can be a player! (you've got no choice)
Get your own share of surplus value.
Surplus value? What's that?
I. What is the Labour Theory of Value? II. What is Capital and Capitalism?
Your time starts now...
Read up. Watch some videos. www.marxists.org/archive/mandel kapitalism101.wordpress.com
$700 Billion! Wanda Sykes Rich people got it good in this country ... Broke people are about to bailout rich people... It's welfare for the rich.
$700 Billion is a lot of money $750 billion : cost so far of the war on Iraq and Afghanistan 850 million human beings are starving 2.6 billion lack sewage services 800 million are illiterate 640 million children lack adequate housing... And so it goes....
In your dreams
The net effect of any bailout
So where did this crisis come from?
Topics for discussion FACT: The post war boom ended in 1974
FACT: It took the destruction and armaments build up of the Second World War to pull the world's economies out of the last Great Depression (1929/33)
FACT FACT: The sub prime mortgage collapse while a symptom is not a main cause of the crisis.
FACT: Governments have always intervened in the economy ... but always on the side of the capitalists. The free market is a neo-liberal myth.
Examples: Work Choices Social Welfare Superannuation Corporatisation of state enterprises The Prices & Incomes Accord Establishing investment focus...
● FACT: When you drive down incomes you also drive down consumption.
And working people try to make up for the shortfall... ...by borrowing
M-C-M Money -Commodity -Money
To survive (us and whole third world countries) To generate investment capital (Capitalists)
Inflation rises While the... General rate of profit declines.
Invest in production? To produce commodities (stuff) = new value + new profit
Invest in claims on new value and profit This is called Fictitious Capital
In 1980, world financial assets (bank deposits, government and private securities, and shareholdings) amounted to 119% of global production; by 2007 that ratio had risen to 356%.
REPAYMENTS :Each dollar borrowed costs more over time. INFLATION: Each dollar you possess is worth less. MARKETS: As they collapse so too does the value of your investment.
Crisis theory, concerning the causes and consequences of the tendency for the rate of profit to fall in a capitalist system, is now generally associated ...
Economic Crisis Shows: Capitalism ... there is a great need to deepen our understanding of the capitalist crisis. ... In this period of capitalism’s ...
In capitalist economic structures, ... Harvey used Marx's theory of crisis to aid his argument that capitalism must have its "fixes" but that we cannot ...
Socialist Review, a revolutionary, anti-capitalist socialist magazine based in Britain.
Karl Marx and the World Crisis. The specter of economic collapse is haunting the world. Bankers, bosses, politicians and economists talk about it but none ...
Chapter B - The General Crisis of Capitalist Society 1. The general ... Though this can delay the outbreak of an economic crisis, ...
Roots of the Current Economic Crisis: Capitalism, Forms of Capitalism, Policies, and Contingent Events. by David M. Kotz . Department of Economics ...
... and humane economic system? ... David Harvey- The Crises of Capitalism - Duration: ... Capitalism Is The Crisis (Full Movie) ...
It was six years ago, on May 2010, when the then Prime Minister George Papandreou, in a televised message from the picturesque island of Kastelorizo, was ...