Tag Archive: Aristotle

Jun 08 2015

Anti-Capitalist Meetup: Back to Basics: The Circuits of Commodities and Capital By NY Brit Expat

Due to popular demand (which I cannot understand for the life of me), today’s piece will discuss chapters 4 and 5 in Karl Marx’s Capital, volume I. On the surface, these two chapters appear simple and in many senses unimportant.  

However, that would be erroneous to conclude. These two chapters clarify two important circuits that are essential to understand the capitalist economic system and to distinguish it from earlier modes of production. Trade and money existed before capitalism itself, so what distinguishes capitalism from ancient slave societies, feudalism, and pre-capitalist mercantile economies?

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Karl Marx

In addition, Marx describes the different functions of money differentiating money as a unit of account or medium of circulation (circuit of commodities) from money in its role as capital (circuit of capital). Additionally, these chapters introduce the notion of surplus value, the self-expansion of capital, and the notion of a transfer of revenue between capitalists as distinct from the creation of surplus value and end on a cliff-hanger before Marx’s explanation of the creation of surplus value which links his discussion in chapter 1 on the value of commodities to the labour process itself.

All references come from Karl, Marx (1867) Capital Volume I,  Penguin Classics, 1990.

Oct 19 2010

Fantasy Fun 20101018: Let’s Have Dinner Together

Well, not you and me particularly, but with some historical figures.  This was sort of spurred by Keith Olbermann’s story about Michele Bachmann’s list of people with whom she would like to have dinner.  I could not imagine a dinner with only six to eight folks, including me, wherein I could meet everyone that I would want, so I have set up a series of dinners with diverse groups of folks that I would love to get to know.  By the way, K.O. will be in a future installment if there is enough interest in this series.

Tonight’s installment will include a dinner with physicists (or their historical counterparts) that are both living and dead.  Here are my rules:  1) I am not personally acquainted with anyone mentioned (a chance meeting, like on a flight does not count), 2) within certain limits, only a maximum of eight people can attend.  More than that would make highly interactive conversation difficult, and 3) there is no language barrier.