-
Marx's Wage Labour and Capital Explained - Part 1 - What Are Wages?
Check out my Patreon: https://www.patreon.com/ComradeHakim
Summary:
A wage at first appears to be just the amount of money which a Capitalist pays a worker in return for a certain amount or period of work. From this, an assumption is made, in which the Capitalist buys the labour of the worker. This is wrong, the Capitalist buys the labour-power of the worker, not the labour.
The money given to the worker in exchange for his labour-power could’ve just as easily been used to buy a few kilos of sugar (or any other commodity for that matter). Labour-power in itself is a commodity, no different from the few kilos of sugar. This commodity of the worker, the labour-power, is exchanged for the commodity of the Capitalist (money). This exchange is expressed in a ratio (for example, 20 dollars for...
published: 07 Jul 2017
-
What is wage labor? | Made in Germany
The exchange of labor for money – when did this begin? Why did Karl Marx criticize wage labor as unjust and exploitative? Is his criticism no longer relevant – or are workers still being exploited today? Or are we perhaps exploiting ourselves?
For a related story, go to: http://p.dw.com/p/2jtAl
For more Made in Germany, visit the playlist: https://www.youtube.com/watch?v=BFGRuBtl_ZY&list=PL78D86E6E055C7D70
published: 25 Apr 2018
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Labor Markets and Minimum Wage: Crash Course Economics #28
How much should you get paid for your job? Well, that depends on a lot of factors. Your skill set, the demand for the skills you have, and what other people are getting paid around you all factor in. In a lot of ways, labor markets work on supply and demand, just like many of the markets we talk about in Crash Course Econ. But, again, there aren't a lot of pure, true markets in the world. There are all kinds of oddities and regulations that change the way labor markets work. One common (and kind of controversial one) is the minimum wage. The minimum wage has potential upsides and downsides, and we'll take a look at the various arguments for an against it.
Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse
Thanks to the following Pa...
published: 27 Mar 2016
-
Wage Labour and Capital by Karl Marx - FULL AudioBook | Greatest AudioBooks
WAGE LABOUR AND CAPITAL by KARL MARX - FULL AudioBook | 🌟🎧📚 https://GreatestAudioBooks.co 🌐 - Originally written as a series of newspaper articles in 1847, Wage-Labour and Capital was intended to give an overview of Karl Marx’s major theories related to his theories of economics between workers and "capitalists". This edition of "Wage-Labour and Capital", was published in 1891 (edited & translated by Friedrich Engels).
🌟🎧📚 https://GreatestAudioBooks.co 🌐
🛒 S h o p : https://www.amazon.com/shop/GreatestAudioBooks
💙 T w i t t e r : https://www.twitter.com/GAudioBooks
🔲Koji► https://koji.to/GreatestAudioBooks
🎧 30 day Audible audiobooks trial►https://amzn.to/2Iu08SE
📙👩🏿🚀 More vids on O d y s e e : https://odysee.com/$/invite/@GreatestAudioBooks:c
🎧 Audiobooks .com 🎧 30 day trial►https...
published: 11 Dec 2014
-
Noam Chomsky - Wage Slavery
Chomsky on wage slavery, slavery and classical liberalism.
published: 13 Jul 2015
-
Labor Markets - Change in in Equilibrium Wage Rate and Level of Employment
This lesson outlines factors that can affect the demand for and supply of labor, causing a change in the equilibrium wage rate and level of employment in a labor market.
Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
published: 23 May 2017
-
Marxism in a (few) Minute(s): Prophesies in Wage Labor, and Capital
Karl Marx wrote an essay called Wage-Labor and Capital that predicted the crises capitalism would cause.
Transcript here: https://docs.google.com/document/d/1Z4UY56TOGbvtK00c2eOF2CsdFptH69H5_RPnNF0H_s4/edit?usp=sharing
published: 13 Nov 2019
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Marx's Wage Labour and Capital Explained - Part 2 - How are Prices of Commodities Determined?
Check out my Patreon: https://www.patreon.com/ComradeHakim
Summary:
The price of a commodity is determined by three things; by the competition between buyers and sellers, by supply and demand, and by the call to offer.
There exists competition between sellers. Those who sell commodities wish to secure the largest sector of the market to themselves. The sellers who sell products of the same or superior quality for a lower price than other sellers will achieve this. This competition between sellers forces the prices of commodities down.
There exists competition between buyers as well. In this case, the price of a particular commodity or commodities will go up, as the commodity is heavily desired.
The final competition is between the buyers and the sellers. The determining factor for who ...
published: 12 Jul 2017
9:11
Marx's Wage Labour and Capital Explained - Part 1 - What Are Wages?
Check out my Patreon: https://www.patreon.com/ComradeHakim
Summary:
A wage at first appears to be just the amount of money which a Capitalist pays a worker in r...
Check out my Patreon: https://www.patreon.com/ComradeHakim
Summary:
A wage at first appears to be just the amount of money which a Capitalist pays a worker in return for a certain amount or period of work. From this, an assumption is made, in which the Capitalist buys the labour of the worker. This is wrong, the Capitalist buys the labour-power of the worker, not the labour.
The money given to the worker in exchange for his labour-power could’ve just as easily been used to buy a few kilos of sugar (or any other commodity for that matter). Labour-power in itself is a commodity, no different from the few kilos of sugar. This commodity of the worker, the labour-power, is exchanged for the commodity of the Capitalist (money). This exchange is expressed in a ratio (for example, 20 dollars for 10 hours of i.e. weaving cloth).
This money given to the worker is in fact an expression in which the commodity of labour-power is exchanged for other commodities (vegetables, meat, clothes etc. so long as they are worth the same amount price-wise).
Price is the estimation of exchange value expressed in money. Wages are simple the special name for the price of labour-power. The worker gets paid from the already existing wealth of the Capitalist, rather than from the proceeds of the selling of his work (i.e. cloth). The Capitalist buys the labour-power of the worker just as he bought raw materials and machinery. The worker is no different from the latter. The worker is himself an instrument of production, and hence has no share in the product that he made. Hence, wages are not a share of the worker in the commodities produced by the worker himself. Instead, wages are part of the already existing commodities with which the Capitalist buys a certain amount of labour-power from the worker.
The worker endures this so that he may survive. Since the worker is completely alienated from his labour, he sees this solely as a means of living, and only feels “free” after the work is done, at the dinner table, at the tavern or in bed.
Wage-labourers (free-labourers) are different from slaves and serfs in that wage-labourers sell themselves totally in fractions at a time. They submit to the will of the Capitalist class and continually sell themselves in order to live. The worker, in essence, belongs to the Capitalist class as a whole.
Source for the book and the video used:
https://www.marxists.org/archive/marx/works/1847/wage-labour/index.htm
https://www.youtube.com/watch?v=Xa0PAg7FfMk
https://wn.com/Marx's_Wage_Labour_And_Capital_Explained_Part_1_What_Are_Wages
Check out my Patreon: https://www.patreon.com/ComradeHakim
Summary:
A wage at first appears to be just the amount of money which a Capitalist pays a worker in return for a certain amount or period of work. From this, an assumption is made, in which the Capitalist buys the labour of the worker. This is wrong, the Capitalist buys the labour-power of the worker, not the labour.
The money given to the worker in exchange for his labour-power could’ve just as easily been used to buy a few kilos of sugar (or any other commodity for that matter). Labour-power in itself is a commodity, no different from the few kilos of sugar. This commodity of the worker, the labour-power, is exchanged for the commodity of the Capitalist (money). This exchange is expressed in a ratio (for example, 20 dollars for 10 hours of i.e. weaving cloth).
This money given to the worker is in fact an expression in which the commodity of labour-power is exchanged for other commodities (vegetables, meat, clothes etc. so long as they are worth the same amount price-wise).
Price is the estimation of exchange value expressed in money. Wages are simple the special name for the price of labour-power. The worker gets paid from the already existing wealth of the Capitalist, rather than from the proceeds of the selling of his work (i.e. cloth). The Capitalist buys the labour-power of the worker just as he bought raw materials and machinery. The worker is no different from the latter. The worker is himself an instrument of production, and hence has no share in the product that he made. Hence, wages are not a share of the worker in the commodities produced by the worker himself. Instead, wages are part of the already existing commodities with which the Capitalist buys a certain amount of labour-power from the worker.
The worker endures this so that he may survive. Since the worker is completely alienated from his labour, he sees this solely as a means of living, and only feels “free” after the work is done, at the dinner table, at the tavern or in bed.
Wage-labourers (free-labourers) are different from slaves and serfs in that wage-labourers sell themselves totally in fractions at a time. They submit to the will of the Capitalist class and continually sell themselves in order to live. The worker, in essence, belongs to the Capitalist class as a whole.
Source for the book and the video used:
https://www.marxists.org/archive/marx/works/1847/wage-labour/index.htm
https://www.youtube.com/watch?v=Xa0PAg7FfMk
- published: 07 Jul 2017
- views: 63453
2:12
What is wage labor? | Made in Germany
The exchange of labor for money – when did this begin? Why did Karl Marx criticize wage labor as unjust and exploitative? Is his criticism no longer relevant – ...
The exchange of labor for money – when did this begin? Why did Karl Marx criticize wage labor as unjust and exploitative? Is his criticism no longer relevant – or are workers still being exploited today? Or are we perhaps exploiting ourselves?
For a related story, go to: http://p.dw.com/p/2jtAl
For more Made in Germany, visit the playlist: https://www.youtube.com/watch?v=BFGRuBtl_ZY&list=PL78D86E6E055C7D70
https://wn.com/What_Is_Wage_Labor_|_Made_In_Germany
The exchange of labor for money – when did this begin? Why did Karl Marx criticize wage labor as unjust and exploitative? Is his criticism no longer relevant – or are workers still being exploited today? Or are we perhaps exploiting ourselves?
For a related story, go to: http://p.dw.com/p/2jtAl
For more Made in Germany, visit the playlist: https://www.youtube.com/watch?v=BFGRuBtl_ZY&list=PL78D86E6E055C7D70
- published: 25 Apr 2018
- views: 6384
10:38
Labor Markets and Minimum Wage: Crash Course Economics #28
How much should you get paid for your job? Well, that depends on a lot of factors. Your skill set, the demand for the skills you have, and what other people are...
How much should you get paid for your job? Well, that depends on a lot of factors. Your skill set, the demand for the skills you have, and what other people are getting paid around you all factor in. In a lot of ways, labor markets work on supply and demand, just like many of the markets we talk about in Crash Course Econ. But, again, there aren't a lot of pure, true markets in the world. There are all kinds of oddities and regulations that change the way labor markets work. One common (and kind of controversial one) is the minimum wage. The minimum wage has potential upsides and downsides, and we'll take a look at the various arguments for an against it.
Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse
Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever:
Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks
--
Want to find Crash Course elsewhere on the internet?
Facebook - http://www.facebook.com/YouTubeCrashCourse
Twitter - http://www.twitter.com/TheCrashCourse
Tumblr - http://thecrashcourse.tumblr.com
Support Crash Course on Patreon: http://patreon.com/crashcourse
CC Kids: http://www.youtube.com/crashcoursekids
https://wn.com/Labor_Markets_And_Minimum_Wage_Crash_Course_Economics_28
How much should you get paid for your job? Well, that depends on a lot of factors. Your skill set, the demand for the skills you have, and what other people are getting paid around you all factor in. In a lot of ways, labor markets work on supply and demand, just like many of the markets we talk about in Crash Course Econ. But, again, there aren't a lot of pure, true markets in the world. There are all kinds of oddities and regulations that change the way labor markets work. One common (and kind of controversial one) is the minimum wage. The minimum wage has potential upsides and downsides, and we'll take a look at the various arguments for an against it.
Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse
Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever:
Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks
--
Want to find Crash Course elsewhere on the internet?
Facebook - http://www.facebook.com/YouTubeCrashCourse
Twitter - http://www.twitter.com/TheCrashCourse
Tumblr - http://thecrashcourse.tumblr.com
Support Crash Course on Patreon: http://patreon.com/crashcourse
CC Kids: http://www.youtube.com/crashcoursekids
- published: 27 Mar 2016
- views: 1148914
1:42:30
Wage Labour and Capital by Karl Marx - FULL AudioBook | Greatest AudioBooks
WAGE LABOUR AND CAPITAL by KARL MARX - FULL AudioBook | 🌟🎧📚 https://GreatestAudioBooks.co 🌐 - Originally written as a series of newspaper articles in 1847, Wage...
WAGE LABOUR AND CAPITAL by KARL MARX - FULL AudioBook | 🌟🎧📚 https://GreatestAudioBooks.co 🌐 - Originally written as a series of newspaper articles in 1847, Wage-Labour and Capital was intended to give an overview of Karl Marx’s major theories related to his theories of economics between workers and "capitalists". This edition of "Wage-Labour and Capital", was published in 1891 (edited & translated by Friedrich Engels).
🌟🎧📚 https://GreatestAudioBooks.co 🌐
🛒 S h o p : https://www.amazon.com/shop/GreatestAudioBooks
💙 T w i t t e r : https://www.twitter.com/GAudioBooks
🔲Koji► https://koji.to/GreatestAudioBooks
🎧 30 day Audible audiobooks trial►https://amzn.to/2Iu08SE
📙👩🏿🚀 More vids on O d y s e e : https://odysee.com/$/invite/@GreatestAudioBooks:c
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►FB: http://www.Facebook.com/GreatestAudioBooks
► http://www.GreatestAudioBooks.co
- READ along by clicking (CC) for Closed Caption Transcript!
- LISTEN to the entire audiobook for free!
Chapter listing and length:
00 Introduction by Engels - 00:22:30
01 Preliminary - 00:04:37
02 What Are Wages? - 00:10:25
03 By What is the Price of a Commodity Determined?
- 00:11:30
04 By What are Wages Determined? - 00:03:58
05 The Nature and Growth of Capital - 00:07:25
06 Relation of Wage-Labour to Capital - 00:11:32
07 The General Law - 00:06:59
08 The Interests of Capital and Wage-Labour - 00:09:19
09 Effect of Capitalist Competition - 00:14:11
22:00,48:52,1:11:47
🎧📖 | Greatest🌟AudioBooks
#audiobook #audiobooks #freeaudiobooks #greatestaudiobooks #book #books #karlmarx #marx #communism #socialism #booktube
This video: Copyright © 2014. GreatestAudioBooks.co - All Rights Reserved.
https://wn.com/Wage_Labour_And_Capital_By_Karl_Marx_Full_Audiobook_|_Greatest_Audiobooks
WAGE LABOUR AND CAPITAL by KARL MARX - FULL AudioBook | 🌟🎧📚 https://GreatestAudioBooks.co 🌐 - Originally written as a series of newspaper articles in 1847, Wage-Labour and Capital was intended to give an overview of Karl Marx’s major theories related to his theories of economics between workers and "capitalists". This edition of "Wage-Labour and Capital", was published in 1891 (edited & translated by Friedrich Engels).
🌟🎧📚 https://GreatestAudioBooks.co 🌐
🛒 S h o p : https://www.amazon.com/shop/GreatestAudioBooks
💙 T w i t t e r : https://www.twitter.com/GAudioBooks
🔲Koji► https://koji.to/GreatestAudioBooks
🎧 30 day Audible audiobooks trial►https://amzn.to/2Iu08SE
📙👩🏿🚀 More vids on O d y s e e : https://odysee.com/$/invite/@GreatestAudioBooks:c
🎧 Audiobooks .com 🎧 30 day trial►https://tinyurl.com/2x6ac4ff
►Website http://www.GreatestAudioBooks.co
►SUBSCRIBE http://www.youtube.com/GreatestAudioBooks
►FB: http://www.Facebook.com/GreatestAudioBooks
► http://www.GreatestAudioBooks.co
- READ along by clicking (CC) for Closed Caption Transcript!
- LISTEN to the entire audiobook for free!
Chapter listing and length:
00 Introduction by Engels - 00:22:30
01 Preliminary - 00:04:37
02 What Are Wages? - 00:10:25
03 By What is the Price of a Commodity Determined?
- 00:11:30
04 By What are Wages Determined? - 00:03:58
05 The Nature and Growth of Capital - 00:07:25
06 Relation of Wage-Labour to Capital - 00:11:32
07 The General Law - 00:06:59
08 The Interests of Capital and Wage-Labour - 00:09:19
09 Effect of Capitalist Competition - 00:14:11
22:00,48:52,1:11:47
🎧📖 | Greatest🌟AudioBooks
#audiobook #audiobooks #freeaudiobooks #greatestaudiobooks #book #books #karlmarx #marx #communism #socialism #booktube
This video: Copyright © 2014. GreatestAudioBooks.co - All Rights Reserved.
- published: 11 Dec 2014
- views: 75671
3:59
Noam Chomsky - Wage Slavery
Chomsky on wage slavery, slavery and classical liberalism.
Chomsky on wage slavery, slavery and classical liberalism.
https://wn.com/Noam_Chomsky_Wage_Slavery
Chomsky on wage slavery, slavery and classical liberalism.
- published: 13 Jul 2015
- views: 357602
8:26
Labor Markets - Change in in Equilibrium Wage Rate and Level of Employment
This lesson outlines factors that can affect the demand for and supply of labor, causing a change in the equilibrium wage rate and level of employment in a labo...
This lesson outlines factors that can affect the demand for and supply of labor, causing a change in the equilibrium wage rate and level of employment in a labor market.
Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
https://wn.com/Labor_Markets_Change_In_In_Equilibrium_Wage_Rate_And_Level_Of_Employment
This lesson outlines factors that can affect the demand for and supply of labor, causing a change in the equilibrium wage rate and level of employment in a labor market.
Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
- published: 23 May 2017
- views: 118786
17:41
Marxism in a (few) Minute(s): Prophesies in Wage Labor, and Capital
Karl Marx wrote an essay called Wage-Labor and Capital that predicted the crises capitalism would cause.
Transcript here: https://docs.google.com/document/d/1...
Karl Marx wrote an essay called Wage-Labor and Capital that predicted the crises capitalism would cause.
Transcript here: https://docs.google.com/document/d/1Z4UY56TOGbvtK00c2eOF2CsdFptH69H5_RPnNF0H_s4/edit?usp=sharing
https://wn.com/Marxism_In_A_(Few)_Minute(S)_Prophesies_In_Wage_Labor,_And_Capital
Karl Marx wrote an essay called Wage-Labor and Capital that predicted the crises capitalism would cause.
Transcript here: https://docs.google.com/document/d/1Z4UY56TOGbvtK00c2eOF2CsdFptH69H5_RPnNF0H_s4/edit?usp=sharing
- published: 13 Nov 2019
- views: 1452
11:24
Marx's Wage Labour and Capital Explained - Part 2 - How are Prices of Commodities Determined?
Check out my Patreon: https://www.patreon.com/ComradeHakim
Summary:
The price of a commodity is determined by three things; by the competition between buyers an...
Check out my Patreon: https://www.patreon.com/ComradeHakim
Summary:
The price of a commodity is determined by three things; by the competition between buyers and sellers, by supply and demand, and by the call to offer.
There exists competition between sellers. Those who sell commodities wish to secure the largest sector of the market to themselves. The sellers who sell products of the same or superior quality for a lower price than other sellers will achieve this. This competition between sellers forces the prices of commodities down.
There exists competition between buyers as well. In this case, the price of a particular commodity or commodities will go up, as the commodity is heavily desired.
The final competition is between the buyers and the sellers. The determining factor for who wins between the camp of buyers and the camp of sellers is the relation between the two. Meaning, whether the competition between sellers is stronger, or between buyers is stronger. If it is the former, than the price of the commodity goes down. If it is the latter, than the price of the commodity goes up.
A rise and fall in price is precisely so only in relation to the cost of production. Above the cost of production would be a rise in price, and below would be a fall in price.
The price of a commodity expresses (in the form of money) the ratio or proportion in which one commodity will be exchanged for another commodity. if the price of a commodity rises (due to for example, a fall in supply or a rise in demand), then the price of some other commodity must fall, in proportion to the rise of the price of the first commodity.
As a consequence of a rise in price (above the cost of production), capital will migrate to this branch of industry until the levels of profit derived from it return to normal levels (or goes negative). If this happens, capital will migrate away from this branch of industry. As a result of this movement in and out of industries by capital, the prices of commodities will fluctuate above and below the cost of production.
This fluctuation will eventually balance out and the commodity will be sold at its cost of production, hence price is determined by the cost of production.
The cost of production itself is determined by the raw materials, wear and tear of tools etc., and the amount of labour that went into production the commodity. Both are measured by their duration.
Sources:
https://www.marxists.org/archive/marx/works/1847/wage-labour/index.htm
https://www.youtube.com/watch?v=Xa0PAg7FfMk
https://wn.com/Marx's_Wage_Labour_And_Capital_Explained_Part_2_How_Are_Prices_Of_Commodities_Determined
Check out my Patreon: https://www.patreon.com/ComradeHakim
Summary:
The price of a commodity is determined by three things; by the competition between buyers and sellers, by supply and demand, and by the call to offer.
There exists competition between sellers. Those who sell commodities wish to secure the largest sector of the market to themselves. The sellers who sell products of the same or superior quality for a lower price than other sellers will achieve this. This competition between sellers forces the prices of commodities down.
There exists competition between buyers as well. In this case, the price of a particular commodity or commodities will go up, as the commodity is heavily desired.
The final competition is between the buyers and the sellers. The determining factor for who wins between the camp of buyers and the camp of sellers is the relation between the two. Meaning, whether the competition between sellers is stronger, or between buyers is stronger. If it is the former, than the price of the commodity goes down. If it is the latter, than the price of the commodity goes up.
A rise and fall in price is precisely so only in relation to the cost of production. Above the cost of production would be a rise in price, and below would be a fall in price.
The price of a commodity expresses (in the form of money) the ratio or proportion in which one commodity will be exchanged for another commodity. if the price of a commodity rises (due to for example, a fall in supply or a rise in demand), then the price of some other commodity must fall, in proportion to the rise of the price of the first commodity.
As a consequence of a rise in price (above the cost of production), capital will migrate to this branch of industry until the levels of profit derived from it return to normal levels (or goes negative). If this happens, capital will migrate away from this branch of industry. As a result of this movement in and out of industries by capital, the prices of commodities will fluctuate above and below the cost of production.
This fluctuation will eventually balance out and the commodity will be sold at its cost of production, hence price is determined by the cost of production.
The cost of production itself is determined by the raw materials, wear and tear of tools etc., and the amount of labour that went into production the commodity. Both are measured by their duration.
Sources:
https://www.marxists.org/archive/marx/works/1847/wage-labour/index.htm
https://www.youtube.com/watch?v=Xa0PAg7FfMk
- published: 12 Jul 2017
- views: 33800