Introduction to Marx and Marxism Video 10 The tendency of the rate of profit to decline

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  • เผยแพร่เมื่อ 4 ม.ค. 2025

ความคิดเห็น • 13

  • @salmakheder1098
    @salmakheder1098 2 ปีที่แล้ว

    This was very helpful in explaining such a concept to a beginner!! Thank you so much for this video. :)

  • @xxmoriahxx6756
    @xxmoriahxx6756 3 ปีที่แล้ว +2

    Thank you, you explained the subject really well the equation and every thing else is so clear now.

  • @lenenlawless
    @lenenlawless 3 ปีที่แล้ว +1

    me and my partner listened to these on spotifies, love your work! I hope you're interested in doing more stuff like this more in depth!

  • @criscrypto
    @criscrypto 4 ปีที่แล้ว +2

    thank you so much for this!! ive been racking my brain trying to figure this out and this video helped me tremendously!!

  • @niallocuilleanain81
    @niallocuilleanain81 4 ปีที่แล้ว +3

    why do you assume in your example that the cost of constant capital is continually increasing? is there a necessary reason why it should do so? Even if the example is for illustrative purposes its inclusion is not theoretically clear. Presumably the rate of profit is falling not because of rising costs in constant capital but the inability of dead capital to produce surplus value? Thank you.

    • @hehe8138
      @hehe8138 4 ปีที่แล้ว +1

      If I’m getting this right, constant capital is not a quarterly expenditure. It is constant, meaning that once it is paid for, it is there to stay. Examples are factories and machines. Over time, more machines are created, so more constant capital. There is of course an investment that must be made in the maintenance of these machines, but this cost will tend to go down as machines can be used to automate the maintenance process.

    • @niallocuilleanain81
      @niallocuilleanain81 4 ปีที่แล้ว +2

      @@hehe8138 Hi John - no, I believe it is constant because it doesn't add value unlike variable capital. the Marxist proposition claims a tendency for constant capital to rise relative to variable capital over time. I think the video above seems to be unclear on the difference between embodied value terms and actual empirical prices, Best,

    • @donatopirrod
      @donatopirrod 3 ปีที่แล้ว

      @@niallocuilleanain81 Ok, Constant capital are the machines, variable capital are the workers. The reason why constan capital doesnt add value is because based on labour theory of value, commodities have value because they require human labor to be created which is then exchanged. The argument basically being that a machine that creates something without any human effort is basically value-less because there is no longer a social interaction of exchanging human work. If machines could do anything for free without human effort, there couldnt be competition betwwen humans to create this commodity and therefore, unexchangeble. I dont know if i explained it well enough, give me feedback on that.

    • @donatopirrod
      @donatopirrod 3 ปีที่แล้ว

      @@niallocuilleanain81 the reason why marx uses value rather than supply and demand prices is that it wont necessarly represent the value that is being created in a factory for example when a commodity is produced. To give you an example, if you and i were on an island and you had a watch and 10 dollars and i had coat and 10 dollars, it doesnt matter what we exchanged the both commodities for. it could have been 5 dollars for the coat and 5 for the watch, or 2 for the coat and 6 for the watch, the value present in our economy remains the same. Value is not created in exchange. the only thing capable of creating "value" or welath is labour. and whatever was happening in practice with money might not reflect the real effect of less surplus value for the capitalis, and less in wages for the worker.

    • @niallocuilleanain81
      @niallocuilleanain81 3 ปีที่แล้ว

      @@donatopirrod thanks, but I get that and the underlying ltv approach marx uses. From memory, it was the particular numerical values used in the presentation rather than underlying theoretical framework; seemed cherry picked to demonstrate a preferred point rather than established. So long since I looked at the video however...

  • @mo0nstonegirl
    @mo0nstonegirl 2 ปีที่แล้ว

    I know this might be strange John, or Random.... I'm just wondering if you're the same John Molyneux who done a DNA test with 23andme?

  • @masscreationbroadcasts
    @masscreationbroadcasts 2 ปีที่แล้ว

    Every recession has been made worse or their start was accelerated by government intervention.
    The surplus values in those equations are invented out of thin air.
    The tendency of the rates of profit to fall doesn't take into account new industries which form because the current products are cheap enough for new industries to form because no one thought to do because it was too expensive with the past products.