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Marxism (Basic) Economics


Commodity An Article of Trade (An object which has value).


Use value • For Example: A Shoe = can be used to wear, saves our feet from any rough objects etc, etc.


Exchange value • For Example:

1 Shoe = 1 Comb


Note

Use value is the direct means of existence


Money For Example: 1.5 shoes = 1 Cap Therefore 1.5 shoes = 100 Rupees = 1 Cap


Relation b/w Laborer and Capitalist

C–M–C

(Laborer)

M` – C – M` (Capitalist)


Construction of the Capital

c+v=C


Surplus Value

c+v+s=C


Conclusion • Labor is the only commodity that can add value to a commodity. • With Surplus value, Capitalist can exploit human labor for their own personal gains. • They can make them work for longer hours and\or make faster productivity. • The only way we can achieve freedom from exploitation is by initially creating a worker’s state, which will slowly evolve into a communistic society.

MarxianEconomics  

Marxism (Basic) Economics Commodity An Article of Trade (An object which has value). A Shoe = can be used to wear, saves our feet from any r...

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