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Blunden Andy: Marx's Capital

Marx's Capital

Hegelian Sources

Contents

Preface xi

1 Marx’s Sources 1

1 Hegel’s Theory of Science 1

1.1 The Idea of the True 4

1.2 Hegel’s Social Theory 10

1.3 Right 10

1.4 Morality 11

1.5 The State and Ethical Life 11

2 Marx’s Use of History 12

2.1 Categorical Genealogy 16

3 Marx’s Critique of Ricardo 18

3.1 The Three Sources and Component Parts of Capital 22

2 Capital 23

1 Marx’s Capital Volume One: the Process of Production of Capital 23

1.1 Part I. Commodities and Money 23

1.1.1 Chapter 1 §1, the Two Factors of a Commodity:

Use-Value and Value 23

1.1.2 Summary of Capital, Volume One, Chapter 1 28

1.1.3 Chapter 2. Exchange 29

1.1.4 Chapter 3. Money 30

1.1.5 Summary of Part I 30

1.2 Part II. The Transformation of Money into Capital 31

1.2.1 Chapter 4. The General Formula for Capital 31

1.2.2 Chapter 5. Contradictions in the General Formula

of Capital 33

1.2.3 Chapter 6. The Buying and Selling of Labour-Power 34

1.2.4 Summary of Part II 37

1.3 Part III. The Production of Absolute Surplus-Value 38

1.3.1 Chapter 7. The Labour-Process &amp; Process of Producing

Surplus-Value 38

1.3.2 §2. The Production of Surplus Value 39

1.3.3 Conclusion from Chapter 7 40

1.3.4 Chapter 8. Constant Capital and Variable Capital 41

1.3.5 Chapter 9. The Rate of Surplus-Value 42

1.3.6 Chapter 10. The Working Day 43

1.3.7 Chapter 11. The Rate and Mass of Surplus-Value 43

1.3.8 Summary of Part III 45

1.4 Part IV. The Production of Relative Surplus-Value 47

1.4.1 Chapter 12. The Concept of Relative Surplus-Value 47

1.4.2 Chapter 13. Co-operation 49

1.4.3 Chapter 14. Division of Labour and Manufacture 50

1.4.4 Chapter 15. Machinery and Modern Industry 50

1.5 Part V. The Production of Absolute and of Relative

Surplus-Value 50

1.5.1 Chapter 16. Absolute and Relative Surplus Value 50

1.6 Part VI. Wages 52

1.6.1 The Remaining Parts of Volume One of Capital 52

1.7 Capital Volume One, Conclusion 54

2 Marx’s Capital Volume Two: the Process of Circulation of Capital 59

2.1 Part I. The Metamorphoses of Capital and Their Circuits 60

2.1.1 Chapter 1. The Circuit of Money Capital 60

2.1.2 Chapter 2. The Circuit of Productive Capital 62

2.1.3 Chapter 3. The Circuit of Commodity-Capital 63

2.1.4 Summary of Part I 64

2.2 Part II. The Turnover of Capital 65

2.2.1 Chapter 7. The Turnover Time and Number of

Turnovers 65

2.2.2 Chapter 8. Fixed Capital and Circulating Capital 65

2.3 Part III. The Reproduction and Circulation of Aggregate

Social Capital 66

2.4 Summary of Volume Two 68

3 Marx’s Capital Volume Three: the Process of Capitalist Production

as a Whole 70

3.1 Part I. The Conversion of Surplus-Value into Profit and of the Rate

of Surplus-Value into the Rate of Profit 71

3.1.1 Chapter 1. Cost-Price and Profit 73

3.1.2 Chapter 2. The Rate of Profit 74

3.1.3 Chapter 3. The Relation of Rate of Profit to Rate

of Surplus-Value 74

3.1.4 Chapter 4. The Effect of the Turnover on the Rate

of Profit 74

3.1.5 Chapter 5. Economy in the Employment of Constant

Capital 74

3.1.6 Chapter 6. The Effect of Price Fluctuations 75

3.1.7 Chapter 7. Supplementary Remarks 75

3.2 Part II. Conversion of Profit into Average Profit 75

3.2.1 Chapter 8. Different Compositions of Capitals in

Different Branches of Production and Resulting

Differences in Rates of Profit 75

3.2.2 Chapter 9. Formation of a General Rate of Profit

(Average Rate of Profit) and Transformation of the

Values of Commodities into Prices of Production 76

3.2.3 Chapter 10. Equalisation of the General Rate of Profit

through Competition. Market-Prices and Market-Values.

Surplus-Profit 79

3.2.4 Chapter 11. Effects of General Wage Fluctuations on

Prices of Production 81

3.2.5 Chapter 12. Supplementary Remarks 81

3.3 Part III. The Law of the Tendency of the Rate of Profit to Fall 83

3.3.1 Chapter 13. The Law as Such 84

3.3.2 Chapter 14. Counteracting Influences 84

3.3.3 Chapter 15. Exposition of the Internal Contradictions of

the Law 85

3.4 Part IV. Conversion of Commodity-Capital and Money-Capital

into Commercial Capital and Money-Dealing Capital

(Merchant’s Capital) 86

3.4.1 Chapter 16. Commercial Capital 86

3.4.2 Chapter 17. Commercial Profit 88

3.4.3 Chapter 18. The Turnover of Merchant’s Capital.

Prices 89

3.4.4 Chapter 19. Money-Dealing Capital 89

3.5 Part V. Division of Profit into Interest and Profit of Enterprise:

Interest-Bearing Capital 90

3.5.1 Chapter 21. Interest-Bearing Capital 90

3.5.2 Chapter 22. Division of Profit. Rate of Interest. Natural

Rate of Interest 93

3.5.3 Chapter 23. Interest and Profit of Enterprise 93

3.5.4 Chapter 24. Externalisation of the Relations of Capital

in the Form of Interest-Bearing Capital 95

3.5.5 Chapter 25. Credit and Fictitious Capital 95

3.5.6 Chapter 27. The Role of Credit in Capitalist

Production 95

3.5.7 Chapter 30–35. Money-Capital and Real Capital 97

3.5.8 Chapter 36. Pre-capitalist Relationships 98

3.6 Part VI. Transformation of Surplus-Profit into Ground-Rent 98

3.6.1 Chapter 37. Introduction 98

3.6.2 Chapter 38–44. Differential Rent 99

3.6.3 Chapter 45. Absolute Ground-Rent 99

3.6.4 Chapter 46. Building Site Rent. Rent in Mining. Price

of Land 100

3.6.5 Summary of Parts V and VI 100

3 Overview and Reflections 102

1 Marx’s Capital: Overview 102

1.1 The Division of the Material by Forms of Ethical Life 102

1.1.1 Bourgeois Society 102

1.1.2 Productive Capitalism 102

1.1.3 Finance Capital 103

1.2 The Logical Division of the Subject Matter 103

1.2.1 The Immediate Production of Capital 103

1.2.2 The Circulation of Capital 104

1.2.3 The Process of Capitalist Production as a Whole 105

1.3 Analysis by Units 106

1.3.1 The Commodity (v.1 Part I) 106

1.3.2 The Embryo Capitalist, Moneybags (v.1 Part II) 107

1.3.3 Unpaid Labour Time (v.1 Part III) 107

1.3.4 The Necessary Labour Time (v.1 Part IV) 107

1.3.5 Productive Labour (v.1 Part V) 108

1.3.6 The Day’s Wage (v.1 Part VI) 108

1.3.7 The Circuit of Capital (v.2 Part I) 108

1.3.8 The Turnover Time of Capital (v.2 Part II) 108

1.3.9 The Unity of Circulation and Production

(v.2 Part III) 108

1.3.10 Cost-price and Price of Production (v.3 Part I) 109

1.3.11 The Average Rate of Profit (v.3 Part II) 109

1.3.12 Accumulated Constant Capital (v.3 Part III) 109

1.3.13 The Commercial Capitalist (v.3 Part IV) 109

1.3.14 The Finance Capitalist (v.3 Part V) 109

1.3.15 The Landowner (v.3 Part VI) 110

2 Marx’s Capital: Outstanding Issues 110

2.1 Commodities 111

2.2 Precarity and Gig Work 113

2.3 The Advertising Industry 114

2.4 State Intervention 115

2.5 Summary 116

3 Reflection 116

3.1 The Capital/Logic Debate 116

3.2 My Journey to Capital 117

4 Conclusion 120

References 123

Index 124

How apprenticeship shaped the English economy Apprenticeship dominated training and skill formation in early modern Europe. Years spent learning from a skilled master were a nearly universal experience for young workers in crafts and trade. In England, when apprenticeship reached its peak, as many as a third of all teenage males would serve and learn as apprentices. In The Market for Skill, Patrick Wallis shows how apprenticeship helped reshape the English economy. Some historians see apprenticeship as a key ingredient in the industrial revolution; others agree with Adam Smith in seeing it as wasteful and conservative. Wallis shows that neither of these perspectives is entirely accurate. He offers a new account of apprenticeship and the market for skill in England, analyzing the records of hundreds of thousands of individual apprentices to tell the story of how apprenticeship worked and how it contributed to the transformation of England. Wallis details the activities of apprentices and masters, the strategies of ambitious parents, the interventions of guilds and the decisions of town officials. He shows how the system of early modern apprenticeship contributed to the growth of cities, the movement of workers from farms to manufacturing and the spread of new technologies and productive knowledge. In this groundbreaking study, Wallis argues that apprenticeship succeeded precisely because it was a flexible institution which allowed apprentices to change their minds and exit contracts early. Apprenticeship provided a vital channel for training that families could trust and that was accessible to most young people, whatever their background.

Apprenticeship and Economic Growth in Early Modern England

The Market for Skill

Roads Not Taken

A definitive collection of essays by one of the leading living theorists of social power, brought together here for the first time. In this consolidated summation of his works, Steven Lukes reflects on the central questions and changing nature of 'the power debate' as it has evolved since the publication of his seminal work Power: A Radical View. Including six essays on power as it relates to central themes of truth, domination and moral responsibility, and engaging with nine influential recent and contemporary theorists of power, Power and Domination and Other Essays provides a major critique of a debate that remains as alive and contentious as ever. Bringing up to date Lukes's work on power in one accessible volume, this book is an essential companion to Power: A Radical View, now in its third edition, and useful for all undergraduate and postgraduate students of the history of social and political thought, political science and political sociology.

Power and Domination and Other Essays

Renowned economist Josh Ryan-Collins provides the ideal pedagogical resource for anyone concerned with the major role central banks play in shaping all of our economic opportunities and daily lives. This book provides a concise, authoritative overview of the history and stated purpose of central banks. With critiques of principles and actions that have emerged since the 2008 crash, Ryan-Collins's own and others' proposals offer a solution of how to reform them. In a clear, easy-to-follow structure, it offers historical-normative descriptions of the evolution and role of central banks alongside "myth-busting" chapters explaining the salient critiques of, and proposed alternatives to, principles at the heart of central-bank thinking. Along the way, it covers the major issues preoccupying critical central banking studies and political economics today, including housing inequalities, climate change, digital currencies, and the potential impact of artificial intelligence.

Rethinking Central Banking and Macrofinancial Policy for the Age of Polycrisis

The Gods that Failed

We vow for richer for poorer. We sacrifice for our children, we give back to our parents. Because in true love and family matters, money's irrelevant and it would be terrible to suggest otherwise. Right?

We vow for richer for poorer. We sacrifice for our children, we give back to our parents. Because in true love and family matters, money's irrelevant and it would be terrible to suggest otherwise. Right?

The Modern Money Questions That Could Save Your Relationships

Yours or Mine?

This book responds to the dynamics of the currently much changed financial market environment by providing a text that presents a more up-to-date description of financial markets – one that offers more current insight into the behaviour of financial markets and financial sector institutions than is currently represented in available books on the subject.

Financial Markets and Institutions

The award-winning author of The Entrepreneurial State and Mission Economy offers a scathing indictment of a global financial system that incentivizes taking over making and extraction over creation "A stimulating analysis of the underlying causes of inequality and growth which forces us to confront long-held beliefs about how economies work and who benefits." -Martin Wolf, Financial Times The Value of Everything is a penetrating and passionate argument that modern capitalism has failed to clearly delineate between value creation and value extraction. As economist Mariana Mazzucato shows, from Silicon Valley to Wall Street and beyond, foggy notions of value create confusion between rents and profits, reward extractors rather than creators, and distort the measurements of growth and GDP. Asset management companies profit exorbitantly off of income generated elsewhere; big pharma uses value-based pricing to justify astronomically high prices for vital medicines that are publicly funded. In the process, innovation suffers and inequality widens. Now updated with a new preface, The Value of Everything reignites the debate over how we measure value in our society-and in so doing, shows how we can shape our economy to be more innovative and inclusive.

Making and Taking in the Global Economy

The Value of Everything

In striking black-and-white portraits, dozens of survivors of Michigan's cruel sentencing of children to life without parole-now free adults-are portrayed with irrepressible dignity&nbsp; 
 
The United States is the only country in the world that sentences children to serve time in adult prisons without the possibility of parole. The portrayal of children in conflict with the law, particularly children of color, as inherently threatening, dangerous, and adult-like has been key to denying these youth a second chance and foundational in justifying their cruel and excessive punishment in the criminal legal system.. 
 
In&nbsp;Morning from Now On, LaBelle, himself a survivor of childhood incarceration, cocreates astute and nuanced portraits with more than fifty of the hundreds of people in Michigan incarcerated as children. Accompanying essays provide critical context on the history of and impact on a society that locks away our children. 
 
In witnessing these survivors' yearning for freedom, the obstacles they face upon reentry, as well as the wonder and joy of being reunited with their families and communities, this collection reminds us of their unfathomable losses and calls on us to cherish&nbsp;all&nbsp;our children. 
 
With contributions by Jose Burgos, Bernardine Dohrn, Xavier McElrath-Bey, Timothy Connors, and Alison Leal Parker

Portraits of Life after Juvenile Incarceration

Morning from Now On

Edition Politik

Is shrimp becoming Ecuador's new oil&nbsp;– and at what cost? Valerie Lenikus uncovers the political-economic drivers and the socio-ecological implications of extractivism: how export-led aquaculture has razed mangroves, displaced coastal livelihoods, and sharpened struggles over land and natural resources. Based on the Latin American debate on extractivism, historical conditions and inequalities, and the controversial constitution of 2008, the complex power relations on different spatial levels are depicted, linking the central role of the state and its policies with concrete struggles of communities.

Conflicts and Power Relations in Ecuador's Shrimp Sector

Tides of Extraction

A collection of eye-opening natural experiments, showing how economists uncover cause-and-effect relationships and reveal insights about our world. Does having a daughter change how a congressperson votes? How did a nineteenth-century doctor help discover germs? Is it better to go first or second in a penalty shootout? Why don’t diplomats pay their parking tickets? Do leaders really matter? These are all questions economists ask. Some of these questions are serious, others less consequential. But all are interesting—and can be answered by way of the natural experiment. A natural experiment is an event in the real world that neatly divides people into a treatment and control group—and it is one of the greatest tools in the economist’s toolkit. In Daughters, Diplomats, and Death, Patrick Gourley discusses why and how economists have leveraged this powerful method to answer questions that were long thought unanswerable. In the vein of Freakonomics, Nudge, and The Tipping Point, the book takes the reader on a lively and engaging tour of some of the most fascinating natural experiments, explaining how they work, how they help social scientists answer questions, and what conclusions they reached. The experiments illuminate a wide range of timely issues in health, education, reproductive issues, and the environment, lending rich and much-needed nuance to the complex debates that shape today’s headlines.

A collection of eye-opening natural experiments, showing how economists uncover cause-and-effect relationships and reveal insights about our world. Does having a daughter change how a congressperson votes? How did a nineteenth-century doctor help discover germs? Is it better to go first or second in a penalty shootout? Why don’t diplomats pay their parking tickets? Do leaders really matter? These are all questions economists ask. Some of these questions are serious, others less consequential. But all are interesting—and can be answered by way of the natural experiment. A natural experiment is an event in the real world that neatly divides people into a treatment and control group—and it is one of the greatest tools in the economist’s toolkit. In Daughters, Diplomats, and Death, Patrick Gourley discusses why and how economists have leveraged this powerful method to answer questions that were long thought unanswerable. In the vein of Freakonomics, Nudge, and The Tipping Point, the book takes the reader on a lively and engaging tour of some of the most fascinating natural experiments, explaining how they work, how they help social scientists answer questions, and what conclusions they reached. The experiments illuminate a wide range of timely issues in health, education, reproductive issues, and the environment, lending rich and much-needed nuance to the complex debates that shape today’s headlines.

How Economists Use Natural Experiments to Decipher Our World

Daughters, Diplomats, and Death

Evolutionary Economics and Social Complexity Science

This is the first book to present a new approach of institutional design as an evolutionary applied policy based on coherent conceptualization and methodology, and to study the actuality and implications of diversifying real/virtual community currencies. In contrast to a de facto standard theory, an institutional ecosystem can be composed of various institutions that continue to coexist with changing relative frequencies. In this view, diversified monetary institutions with local rules are feasible and realistic. Community currencies are worldwide attempts to redress such problems as financial instability, chronic stagnation, and decline of communities caused by globalization of the economy. Considering those alternative movements as a new type of policy, "evolutionist institutional design", this book clarifies the feasibility and significance of community currencies in the current era of globalization. The book also provides a better understanding than mainstream approaches of such platform institutions as money that determine fundamental means of cognition and action of interacting agents. Money is a symbolically generalized communication medium in the mesodomain that mediates between socioeconomic performance and patterns in the macrodomain and motives and cognitive frameworks in the microdomain. Conventional national systems of money and finance are platform institutions that determine basic replicators for a capitalistic market economy to evolve. In contrast, community currencies conveying both economic and social/cultural values are distinct platform institutions that are expected to endogenously change such basic replicators in outer and inner institutions for agents to a noncapitalistic market economy. These currencies are considered target institutions for "media design" in the framework of evolutionist institutional design.

This is the first book to present a new approach of institutional design as an evolutionary applied policy based on coherent conceptualization and methodology, and to study the actuality and implications of diversifying real/virtual community currencies. In contrast to a de facto standard theory, an institutional ecosystem can be composed of various institutions that continue to coexist with changing relative frequencies. In this view, diversified monetary institutions with local rules are feasible and realistic. Community currencies are worldwide attempts to redress such problems as financial instability, chronic stagnation, and decline of communities caused by globalization of the economy. Considering those alternative movements as a new type of policy, “evolutionist institutional design”, this book clarifies the feasibility and significance of community currencies in the current era of globalization. The book also provides a better understanding than mainstream approaches of such platform institutions as money that determine fundamental means of cognition and action of interacting agents. Money is a symbolically generalized communication medium in the mesodomain that mediates between socioeconomic performance and patterns in the macrodomain and motives and cognitive frameworks in the microdomain. Conventional national systems of money and finance are platform institutions that determine basic replicators for a capitalistic market economy to evolve. In contrast, community currencies conveying both economic and social/cultural values are distinct platform institutions that are expected to endogenously change such basic replicators in outer and inner institutions for agents to a noncapitalistic market economy. These currencies are considered target institutions for “media design” in the framework of evolutionist institutional design.

An Evolutionist Institutional Design Approach

Community Currency

The Long Wait for the (Gen)AI Innovation Renaissance in Banking and What it Will Take to Finally Make it Happen

Are We There Yet?

Marx's Capital

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