Fundamentals of Marx: Three Circuits of Industrial Capital
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- Опубліковано 29 вер 2024
- [REUPLOAD]
Marx considered industrial capital -- capital engaged in the production of commodities -- from the perspective of three different circuits: the money circuit, the productive circuit, and the commodity circuit. In this video, we will look at each of these circuits, how they relate to each other, and their relationship with industrial capital as a whole.
For more on this topic, see Marx's "Capital: Volume 2" (the primary source used for the video).
Read the full script here: / fundamentals-of-marx-t...
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Narration, script, and video graphics by "M."
Animated intro by Jack, co-host of the Auxiliary Statements podcast @AuxStatements on Twitter.
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Background Music:
Airport Lounge - Disco Ultralounge by Kevin MacLeod is licensed under a Creative Commons Attribution licence (creativecommon...)
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Another amazing video.
Nice video but please delete the troll comments, to keep the comment area friendly and educational
Comment for the algorithm.
A reply for the algorithm! Get dem eyes ovah hear!
Your channel helped me grow a lot intellectually. Keep up the good work!
This is a repost right? Why was the original one deleted?
Yes, this is a reupload. The person who originally voiced the video requested that it be taken down.
@@themarxistproject I see.
@@themarxistproject you are a group of people working together? I hope y'all share the means of video production, distribution and exchange!
Solidarity ❤🖤❤
Capital Volume 2 time 😎😎😎
I love your work!!! However, I have a question. What role do service workers play in the role of Capital? Like I understand in this video you discussed the process of capital in its industrial form; however, is there such a thing as service capital? I ask because I work as a cashier at a supermarket and am wondering how my labor power affects the flow of capital if at all. I’m not producing any specific commodity that is being sold, so how is my sold labor power being used to increase profit? Again, I love your work, you are great at explaining Marxist theory, and am looking forward to the next video! Keep up the great work!!!
This is definitely a somewhat complicated question. But a good place to start would be to consider Marx's approach to commercial capital -- which entails the purchase of commodities from capitalist producers and the sale of those commodities on the market. Marx demonstrates (primarily in Volume 3 of Capital) how the total annual surplus value created is distributed not only amongst the producing enterprises but also among retailers, rentiers, loaners, etc. We'd have to get into the differences between value and prices of production, but the short version is that retailers buy commodities from producers above their cost of production but below the selling price on the market. In doing this, the retailers are able to receive a "cut" of the total surplus value produced in the economy.
Commercial capital presents a number of advantages for the process of capital as a whole. The most important is probably the acceleration of the circuit of capital and the reduction of turnover times (which Marx talks about in Volume 2 (check out that video on the channel)).
So you're right in saying that, according to Marx, commercial capital doesn't produce any commodities itself. But it is an integral part of the accumulation of capital on a social scale because it is the site where the value of commodities is realized in sale. It also refines and accelerates the accumulation process.
Fred Moseley has a good section on this subject in his book "Money and Totality" (which is actually about the transformation problem but also includes other valuable insights about Marx's "macro-monetary" model).
We do need a Marxist theory of service value production.
@@DancingSoldiersOfRa you gotta make something new up because your ideology is false
Not a communist. In theory what your role is as a cashier is to count the money and make sure the store isn't being stolen from this causing a loss. Your wages are paid for out of the profits. Prior to the invention of self checkout your position scales the labor among multiple people rather than a single person inefficiently being overwhelmed. In real economics time is a commodity and so is skilled labor so the scarcity and demand of your skill and the amount of time it takes determines the subjective value of your labor. When you learn a more scarce and demanded skill your labor will be worth more capital like rare commodities that are highly saught after.
@@alexanderledvina8743 Lol "real economists" get a life bro. Invisible hand of the market? More like two lines cross here that's why people starve
Sophomore engineering student and I’ve never seen some of the math notation before, it it proprietary? Mainly the … and the lines indicating a path in the expanded form of circuit 2
Also did Marx formulate circuits of equations for feudal or other non capitalist modes of production?
Love these videos. Been struggling to read theory because I didn't understand a lot of the concepts they were talking about but this series really helped me
In short, capitalists are unnecessary. The state can fulfill their role if producing for personal consumption in the form of improving the wealth of its citizens and thus there ability to demand more consumption, thus enabling expansion of production
The cartoon Marx looks naked. It's like it's flashing us all. The animators make Marx look like some perv. Put some clothes on him, for our sake!
Marx is just a Sussy Baka sometimes
@@vladimirlenin3562 serbbicth? Is that you?
@@defaulttmc I am Lenin
great video but... 1:14 I'm still waiting for that future discussion
Thank you this helped me with the first 4 chapters of vol 2
I don't like the ... in the formlus. It makes it vary messy.
“In the former two forms, the change is formal”. Come on that had to be on purpose
Hello, how does capital reproduce itself to the point of reproducing itself independently of human action?
Thanks.
I don't think it ever does. Human action is integral & human labour is embodied within the fixed capital.
Automation could be included in the model by defining some production as carried out by existing capital that requires energy use and depreciation/maintenance costs. Labour is required to build/maintain the technological support systems that automation requires, so there is still no production that avoids labour entirely.
Marx based his economic theory on the labor theory of value, which is false. Human labor is not the only source of surplus value. Machines create surplus value, too, and much more value than human labor.
And who makes the machines?
@@Jack-tg9qm What difference does it make?! The point is that machines can produce surplus value. Marx failed to acknowledge this and insisted that only human labor could create surplus value. This is an important point because Marx’ prediction that revolution was inevitable is based on his prediction that profit rate would decline as machines played a larger role in production.
another great video
noiceee, quite complex topics delivered beautifully, will have to keep coming back as I'm sure I will understand more on repeat watches. I wonder: if the model is not '''real''', just concepts through which to analyze capitalist processes, then how do we judge the correctness/usefulness of the model? Are there other models that would be just as valid given the empirical data but lead to different conclusions? What are the motivations behind this particular formulation of the model? Finally, how does this help us theorize non-exploitative modes of production?
Just listing questions for myself to come back to,
I like how there's a few channels finally making animation-explanation videos about leftist economics nowadays. This channel is the best so far, but blobMetropolis also does good work, check it out!
Top notch video!
Удачи товарищ.
Can you Please Please Please Please make a video on state capitalism?
Where is the piano intro music from?
I love how it's meant to look like an equation to fool the uneducated and naive into believing this is some form of science and the whole ideology is based off a premise that's historically proven to be false. Value is subjective and not derived from labor, whose value is also subjective..
You're correct. Marx got many things wrong.