Karl Marx's "Capital" Vol. 1 (Part 2/4)

[@Spokojnietotylkoastrologia]

It's unbelievable that he wrote it in 19th century... where are we now? in the place where we still provide energy of life to objects which has to be alive in order to help us survive. And all this magic to make go world go round faster and faster...

[@fernandov1492]

Would you consider doing a follow up series on either Menger's or Hayek's theories of value? Or at least as how they compare to Marx?

[@youxkio]

Yes, the same perception and concept are related to the economies of scale.

[@Zing_art]

Thanks David. Very recently, I got to learn about ‘conscious capitalism’. Does anyone know about it?

[@anthonyesposito7]

The only thing capitalists are conscious about are ever greater profits at all cost, even human life.

[@jdavidlim1098]

thumbs up for banger intro

[@anlaroja]

Chapter 11 34:02

[@janlevani8824]

Thank you.

[@youxkio]

I am passing this on to some freshmen.

[@elel2608]

3:00

[@benjamincaddle2018]

If the labourer works for $10 an hour 8hrs a day, and needs $40 a day to survive after the first 4hrs they are earning surplus for the capitalist? It's probably true for the capitalist but it's it also true for the labourer? Because they make $80 a day, $40 to survive so they also make double survival in one day. Isn't the labourer also earning surplus by that example? I heard the further example that clarified exploitation.

[@puntme]

the point is the worker is not laboring for their own necessity after the $40 is met. they continue to make more wage money obviously (which isn't a bad thing!) but because the extra X hours are required for a full workday, that time is for the capitalists benefit. they're buying a monopoly on your time. you can't just clock out and watch football or go to the bar or whatever.

[@fogfish303]

4-6 is 150% right?

[@TheoryPhilosophy]

🤦

[@benjamincaddle2018]

The capitalist has a business entity that has a cost of living, if the capitalist negotiates time and labour for money for cost of living for the labourer, dont both costs of living needs to be made? The labourer needs $40 a days while the entity/captalist needs $40 or more to survive so the capitalist exploits more than needed and realises they can create more services/products for cost of living through specialisation? Which is how they are able to hire more workers to exploit?