SOC 3113 Lecture Notes - Lecture 18: Fetishism
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Capital: two chapters, commodities, ma(cid:396)(cid:454) e(cid:454)plo(cid:396)es sou(cid:396)(cid:272)es of (cid:862)(cid:448)alue(cid:863, use-value, exchange-value, surplus-value, what determines the worth or price of goods bought and sold on the market, the general formula for capital, workers: c-m-c, capitalists: m-c-m". Commodities: exchange- value: how much of a given commodity (e. g. , corn) it takes to equal the value of another commodity (e. g. , iron, must be determined by something the commodities have in common, they all have labor in common. Labor: something all commodities have in common, separate from commodities themselves (cid:862)la(cid:271)ou(cid:396), the(cid:396)efo(cid:396)e, is the (cid:396)eal (cid:373)easu(cid:396)e of the e(cid:454)(cid:272)ha(cid:374)gea(cid:271)le (cid:448)alue of all (cid:272)o(cid:373)(cid:373)odities(cid:863) Labor theory of value: the value of an object is determine by the amount of labor time it took to produce it. Surplus value: surplus value: difference between what workers earn and price/value of goods they produce, e(cid:454)ploitatio(cid:374) of (cid:449)o(cid:396)ke(cid:396)s = (cid:272)apitalists" p(cid:396)ofits, two principal means of increasing profit and market share: I(cid:374)(cid:272)(cid:396)ease (cid:862)a(cid:271)solute(cid:863) su(cid:396)plus (cid:448)alue (cid:271)(cid:455) e(cid:454)te(cid:374)di(cid:374)g (cid:449)o(cid:396)ki(cid:374)g da(cid:455) (cid:894)(cid:271)ut (cid:374)ot pa(cid:455)(cid:895)
