Topic 3 – Introduction to Marxist Economics

How is the Working Class Exploited?

TOPIC 3 - website pic“Capital is dead labour, that, vampire-like, only lives by sucking living labour, and lives the more, the more labour it sucks.”

Karl Marx, Capital, 1868


Reading 1: Capitalism’s Big Con: Understanding Marxist Economics (CWI)


Reading 2: Value, Price & Profit, Chapters 6-14 (Marx)

Chapter 6Value and Labour
Chapter 7Labour Power
Chapter 8Production of Surplus Value
Chapter 9Value of Labour
Chapter 10Profit is Made by Selling a Commodity at its Value
Chapter 11The Different Parts into which Surplus Value is Decomposed
Chapter 12General Relation of Profits, Wages, and Prices
Chapter 13Main Cases of Attempts at Raising Wages or Resisting their Fall
Chapter 14The Struggle Between Capital and Labour and its Results


Reading 3: Capital, selected chapters (Marx)

Chapter 26The Secret of Primitive Accumulation
Chapter 27Expropriation of the Agricultural Population from the Land
Chapter 32Historical Tendency of Capitalist Accumulation
Chapter 33The Modern Theory of Colonisation


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