“Moments are elements of profit” (page 353)
The history of labour is one of exploitation. The attempt to capture other people’s time as surplus value and the attempt to get as much of it as possible for as little as possible is the essence of capitalism. essential to capitalism.
But though capitalism might want limitlessness (and to some extent, capitalists are victims of this as much as they are drivers), people have limits and can only be worked so hard and for so long. Ironically, it’s the successful attempt to limit the working day that might have stopped capital from destroying itself. Continue reading
Labour is the Only Thing
There are a lot of inputs into the creation of a product, but they can be broken down into two categories:
- constant – the materials and tools of production; the value of these is the same at the beginning and end of the process.
- variable – or labour, which is the catalyst for creating value in the process and tied tightly to time.
The usual framework for capitalism is to throw these two together to give a profit ratio, but pulling them apart leads to some uncomfortable insights.
In its earliest form, exchange of goods does not produce an increase in value.
Both of the people in the exchange can come away with a benefit, because they have achieved an increase in use values, by exchanging, they have ended up with qualitatively different things.
But under capitalism, transactions start and end in money, and money is qualitatively the same, so needs to be differentiated by quantity.
But if standard exchange does not produce an increase in quantity, something must be added to a commodity in between purchase and sale, something that can create surplus value, something called labour.
Money is the Only Commodity
When you listen to an introduction that says nearly everyone who gave up Capital gave up in Chapter 3 and Chapter 3 is the current topic, it doesn’t bode well, but here goes.
In the last lesson, we ended with money as the matrix, the concealing form that disguised the underlying labour and moved us away from the reality of production.
In this chapter, things go even deeper, and money is not only something that moves us away from the producers, but, as it takes on new roles, money is no longer a helper in the exchange of commodities, it is the only commodity.
Entering the Matrix
The first lecture had about 830k views, this one has around 136k, so by getting this far, I guess I’m in the top 16% of the class.
The video goes over chapters 1 and 2 of Capital, which is hard and painful reading. From what I read today, this is a good thing as this will help me on the road to superaging, which means you need to do things that make you feel pretty bad — tired, stymied, frustrated.
Kind of sums up my Marx experience so far, like The Matrix, this session challenged me to try and see what underlies the “socially valid” experience of the world
A quick segway from Marx.
There’s an old quote about once you buy a car, you suddenly start seeing that same car everywhere.
Frameworks fall into the same category.
New year’s resolutions come in strange forms (especially when they are begun before the new year), and one of mine is to expose myself to new texts and ideas. To be brand consistent, and in keeping with my site strapline Reading: everything I’ve already read, should have read and plenty I probably shouldn’t, below is part one of my project to work through Marx’s Capital: Critique of Political Economy v. 1 (Classics S.). Notes from the first lecture below.