Marx's Capital: Class Struggle and Commodity Fetishism

Dialectics

A method of argument involving contradiction and its reconciliation.

Thesis

An initial proposition or statement in an argument.

Antithesis

A counter-proposition that negates or contradicts the thesis.

Synthesis

The resolution of the contradiction between thesis and antithesis.

Bourgeoisie

The owning class that owns the assets and wealth/capital used to generate private profit.

Proletariat

The working class who must sell their labour to live.

Living Labour

The active labour performed by workers in the production process.

Accumulated Labour

The total amount of labour that has been stored in the form of commodities.

Alienation

The estrangement of people from their work, the products of their work, and their fellow workers.

Use-Value

The utility of a commodity, its ability to satisfy human wants.

Exchange-Value

The possibility of exchanging a commodity for something else.

Commodity

An item produced for exchange in the market, characterized by its use-value and exchange-value.

Labour Theory of Value

The theory that the value of a commodity is determined by the amount of socially necessary labour time required for its production.

Socially-Necessary Labour

The average amount of time required to produce a commodity under normal conditions of production with average skill and intensity.

Commodity Fetishism

The perception of the social relationships involved in production as relationships between commodities themselves.

Surplus Value

The difference between the value produced by labour and the actual wage paid to the labourer.

Capital

A social relation of struggle between classes, particularly between the bourgeoisie and the proletariat.

Commodities and Struggle

The concept that the commodity form is fundamental to the social relations of capitalism.

Mysterious Commodity

The dual nature of commodities as both use-value and exchange-value, leading to contradictions.

Realization of Labour

The process through which the value of labour is manifested in the production of commodities.

Objectification

The process by which labor becomes an object, leading to estrangement from the product of one's work.

Money

The alienated ability of mankind that facilitates relationships through purchasing power.

Capitalist Mode of Production

An economic system where the means of production are privately owned and operated for profit.

Social Relation of Struggle

The ongoing conflict between different social classes, particularly in a capitalist society.

Analysis of a Commodity

The examination of a commodity's use-value and exchange-value to understand its role in capitalism.

Fetishized Commodity

A commodity perceived to have intrinsic value, obscuring the social relations of its production.

Fetishism of Commodities

Viewing commodities as having magical powers.

Value Determination

The process of establishing a commodity's worth.

C-M-C

Exchanging a commodity for money to buy another.

M-C-M

Exchanging money for a commodity, then back to money.

Absolute Surplus Value

Increasing profit by extending the workday.

Relative Surplus Value

Extracting more value from the same work duration.

General Formula for Capital

M1 = M + ΔM, indicating profit generation.

Labour Power

The capacity of workers to perform work.

Socially-Necessary Labour Time

Time required to produce a commodity under normal conditions.

Production under Capitalism

Profit-driven production distinct from other systems.

Class Oppression

Exploitation of one class by another in capitalism.

Historical Materialism

Understanding history through material conditions and class struggle.

Anomie

A state of normlessness leading to social instability.

Collective Conscience

Shared beliefs and values within a society.

Social Solidarity

Unity among individuals in a society.

Regulation

Controlling social behavior to maintain order.

Revolution

Radical change in political or social structures.

Profit

Excess value produced beyond costs of production.

Exam Format

Includes short-answer and short-essay questions.

Short-answer Questions

Answer four questions in one paragraph each.

Short-essay Questions

One essay organized with introduction and conclusion.