FPE - Karl Marx

Lecture 5

Explain what historical materialism is?

Marx considered that history was constitued by the material basis of existence → simple terms: The way people produce things (like food, clothes, and tools) shapes everything else in society—including politics, laws, culture, and ideas.

• Every mode of production has social relations.

• This is constituted by the economic base and the political superstructure.

• The base is production

• The superstructure is everything else; the state, culture and media.

• This base and superstructure is subject change as a result of social struggle.

What was the political and social situation in Europe when Marx and Engles wrote the Communist Manifesto?

• Poverty accross the continent.

• Famine.

• Unrest with revolutions in France, Italy and Germany.

What is the Communist Manifesto about?

• It embodies the idea of Historical Materialism.

• Describes the development of two classes: the bourgeoisie (owners of means of production) and the proletariat (exploited) → struggle with each other.

• Predicts that the bourgeoisie will be overthrown by the proletariat.

What is Das Kapital about?

• Analysis of the capitalist system.

• Seeks to lay bare the economic law of motion of modern society.

• Examines the means of exploitation, the circulation of commodities, and capital and the nature of crisis.

What is the labour theory of value according to Marx?

• The value of a commodity was determined by the amount of labour time it had taken to produce.

• Described as socially necessary labour time.

Worker sells labour in exchange of wage → wage to pay costs of living → capitalist selss commodity for a higher price than wage → surplus value (profit for capitalist).

Are value and price the same?

No.

What is a commodity fetish according to Marx?

The valuation of commodities without taking into account their social relations.

What are the circuits of capital?

• Circuits of money capital.

• Circuits of productive capital.

• Circuits of commodity capital.

What are the three types of capitalists that the circuits of capital can create?

• Finance → highly mobile capital, unstable

• Industrial → fixed capital.

• Commercial → less mobile capital.

Why did Marx believe that the capitalist system is inherently prone to crisis?

• Highly competitive nature → tendency to over produce and over accumulate.

• Too many commodities and too much money → devaluation.

How did Marx and Malthus differ?

Marx argued that people find meaning and social purpose thorugh work, unlike what Malthus believes.

Workers are alientated under capitalism.

What creates alienation?

Separation from fellow workers, their products and their exploitation.

What is at the centre of Marx’s analysis?

The way in which workers are exploited, while exploring the laws of motion of capitalism.

Difference of Marxism and Marxian scholarship?

Marxism is a political form, while Marxian scholarship is a theoretical form.