Marxism Today | Marx's Law of Value: Intro to Marxist Economics | Socialism 101 @Marxism_Today | Uploaded 3 years ago | Updated 32 seconds ago
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An introduction to Marxist Economics and Karl Marx's Law of Value
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Resources

Reading:

Karl Marx (1847) "Wage Labour and Capital": marxists.org/archive/marx/works/1847/wage-labour

Karl Marx (1865) "Value, Price and Profit": marxists.org/archive/marx/works/1865/value-price-profit

Karl Marx (1875) "Critique of the Gotha Programme": marxists.org/archive/marx/works/1875/gotha (especially chapter 1 for more on Value: marxists.org/archive/marx/works/1875/gotha/ch01.htm)

Ernest Mandel (1967) "An Introduction to
Marxist Economic Theory": marxists.org/archive/mandel/1967/intromet/index.htm (Sections 1 and 2 of this text are very useful. Treat Section 3 on "Neo-Capitalism" with caution and remember that it was written in 1967)

Karl Marx (1867) "Capital: Volume 1": marxists.org/archive/marx/works/1867-c1

Karl Marx (1885) "Capital: Volume 2": marxists.org/archive/marx/works/1885-c2/index.htm

Karl Marx (1894) "Capital: Volume 3": marxists.org/archive/marx/works/1894-c3


Videos/Podcasts:

Red Menace Podcast "The Fundamentals of Marxism: Intro to Political Economy" redmenace.libsyn.com/political-economy

"Marx's Law of Value Led by Michael Roberts": youtu.be/y7xp2UB4on0

The Marxist Project "Fundamentals of Marx: The Commodity (REUPLOAD)": youtu.be/0UAbbfzO2zc

The Marxist Project "Fundamentals of Marx: Surplus Labor and Value": youtu.be/xzqm9QHls60

The Marxist Project "Fundamentals of Marx: Falling Profit Rates (LTRPF)": youtu.be/EKdQB58g89M

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Marx Quote (Capital Vol 1, Ch. 1): marxists.org/archive/marx/works/1867-c1/ch01.htm
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General Resources:

MLM Basic Course: http://bannedthought.net/MLM-Theory/MLM-Intro/MLM-BasicCourse-CPI(Maoist)-2016-OCR.pdf


Learn from the Reddit community: reddit.com/r/communism101

AzureScapegoat’s Socialism101 site: socialism101.com


Timestamps:

00:00 Introduction
00:38 1. Commodities and Value
03:06 2. Marx's Law of Value and Socially Necessary Labour
05:09 3. Wage-Labour & Labour-Power as Commodity
06:22 4. The General Formula of Capital
09:16 5. Surplus Labour and Exploitation

11:18 6. The Rate of Exploitation
12:15 7. Maximising Surplus Value (Absolute and Relative Surplus Value)
14:31 8. Recap
16:08 Credits