Center for Global Studies CGS 1023 Lecture Notes - Lecture 6: Productive Forces, Immanence
31 Mar 2019
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Document Summary
Post 1945: south asia, south east asia and brics. Crisis is inherent in capitalism contradictions of capitalism. Law of value: noor: 5 mins -- (cost of production, matthew: 6 mins: , ernest 4 mins: . Their breads are brought out and sold in a competitive market. In the market, their private labour becomes social. Factories/people who were spending more labour than was socially necessary were considered more inefficient. The only way values gets created is at the stage of production. There is competition for reducing the socially necessary labour time. Labour exploitation: surplus value is extracted by making them work more efficiently advanced for of labour exploitation. It"s the race for super profit: that creates a race for technological advancement. Workers do not make enough money to provide sufficient demand for goods they have produced.
