POLS 3125 Lecture Notes - Lecture 4: Physiocracy, Proletariat, Imperfect Competition
4 Oct 2017
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Document Summary
Communism is applied to the movement that aims to overthrow the capitalist order by revolutionary means and to establish a classless society in which all goods will be socially owned. Marxism: basic tenets: alternate view of capitalism, historical materialism. It provides a critique /explanation of both its success and its inherent flaws. How people have met their material needs. Slavery, feudalism, capitalism: based on relations of production. Through labour (labour theory of value: direct labour (production) Surplus value (profit: created through direct labour, appropriated by capital. Competitive capitalism: accumulation: need for constant reinvestment, results in concentration (monopoly) and falling rates of profit. For marx then, the very nature of capitalism as a an exploitative class-based mode of production, as it matured and developed, would lead to its own destruction. Exploitation of peripheral states by core: monopoly capitalism. Concentration of capital in hands of few. Late 19th century: communist internationale (comintern: a movement of different socialist groups.
