An Introduction To Capitalism

capitalism an introduction by lib combed org at its roots capitalism is an economic system based on three things wage labor working for a wage private ownership or control of the means of production things like factories machinery farms and offices and production for exchange in profit or some people or means a production of our capital most of us don't and so to survive we need to sell our ability to work in return for a wage or else scrape by on benefits this first group of people is the capitalist class or bourgeoisie in Marxist jargon and the second group is the working class or proletariat capitalism is based on a simple process money is invested to generate more money when money functions like this it functions as capital for instance when a company uses its profits to hire more staff or open new premises and still make more profit the money here is functioning as capital as capital increases or the economy expands this is called capital accumulation and it's the driving force of the economy those accumulating capital do so better when they can shift costs onto others if companies can cut costs by not protecting the environment or by paying sweatshop wages they will so catastrophic climate change and widespread poverty are signs of the normal functioning of the system furthermore for money to make more money more and more things have to be exchangeable for money thus the tendency is for everything from everyday items to DNA sequences to carbon dioxide emissions and crucially our ability to work to become commodified and it is this last point the commodification of our creative and productive capacities our ability to work which holds the secret to capital accumulation money does not turn into more money by magic but by the work we do every day in a world where everything is for sale we all need something to sell in order to buy the things we need those of us with nothing to sell except our ability to work have to sell this ability to those who owned the factories offices etc and of course the things we produce at work aren't ours they belong through our bosses furthermore because of long hours productivity improvements etc we produce much more than sorry to keep us going as workers the wages we get roughly matched the cost of the products necessary to keep us alive unable to work each day which is why at the end of each month our bank balance really looks that different to the month before the difference between the wages we are paid and the value we create is high capital is accumulated or profit is made this difference between the wages were paid and the value we create is called surplus value the extraction of surplus value by employers is the reason we view capitalism as a system based on exploitation the exploitation of the working class this process is essentially the same for all wage labor not just that in private companies public sector workers also face constant attacks on their wages and conditions in order to reduce costs and maximize profits across the economy as a whole the capitalist economy also relies on the unpaid labor of women working in the home competition in order to accumulate capital our boss must compete in the market with bosses of other companies they cannot afford to ignore market forces or they will lose ground to their rivals lose money go bust get taken over and ultimately cease to be our boss therefore even the bosses aren't really in control of capitalism capital itself is it's because of this that we can talk about capital as if it has agency or interests of its own and so often talking about capital is more precise than talking about bosses both bosses and workers therefore are alienated by this process but in different ways but from the workers perspective our alienation is experienced through being controlled by our boss the boss experiences it through impersonal market forces and competition with other bosses because of this bosses and politicians are powerless in the face of market forces each needing to act in a way conducive to continued accumulation and in any case they did quite well out of it they cannot act on our interest since any concessions they grant us will help their competitors on a national or international level for example if a manufacturer develops new technology for making cars which doubles productivity it can lay off half its workers is profits and reduce the price of its cars in order to undercut its competition if another company wants to be nice to its employees and not sack people eventually it will be driven out of business or taken over by its more ruthless competitor so we'll also have to bring in the new machinery and make the layoffs to stay competitive of course if businesses were given a completely free hand to do as they please monopolies would soon develop and stifle competition which would lead to the system grinding to a halt the state intervenes therefore to act on behalf of the long term interest of capital as a whole the state the primary function of the state in capitalist society is to maintain the catalyst system and aid the accumulation of capital as such the state uses repressive laws and violence against the working class when we try to further our interests against capital for example bringing in anti strike laws or sending in police or soldiers to break up strikes and demonstrations the ideal type of state under capitalism at the present time is liberal democratic however in order to continue capital accumulation at times different political systems are used by capital to do this state capitalism in the USSR and fascism in Italy in Germany are two such models which were necessary for the authorities at the time in order to court and crush powerful working-class movements movements which threatened the very continuation of capitalism when the excesses of bosses caused workers to fight back alongside repression the state occasionally intervenes to make sure business as usual resumes without disruption for this reason national and international laws protecting workers rights in the environment exist generally the strength and enforcement of these laws absent flaws in relation to the balance of power between employers and employees in any given time in place for example in France where workers are more well organized in militant there is a maximum working week of 35 hours in the UK where workers are less militant the maximum is 48 hours in the US where workers are even less light with the strike there is no maximum at all history capitalism is presented as a natural system formed a bit like mountains or and masses by forces beyond human control that is an economic system ultimately resulting from human nature however it was not established by natural forces that by intense and massive violence across the globe first in the advanced countries enclosures drove self-sufficient peasants from communal land into the cities to work in factories any resistance was crushed people who resisted the imposition of wage labor were subjected to vagabond laws an imprisonment torture deportation or execution in England under the reign of Henry the eighth's alone 72,000 people were executed for vagabondage later capitalism was spread by invasion and conquest by Western imperialist powers around the globe whole civilizations were brutally destroyed with communities driven from their land into waste work the only countries that avoided conquest were those like Japan which adopted capitalism on their own in order to compete with the other imperial powers everywhere capitalism developed peasants and hourly workers resisted but were eventually overcome by mass terror and violence cap wasn't did not arise by a set of natural laws which stem from human nature it was spread by the organized violence of the elite the concept of private property of London means a production might seem no like the natural state of things however we should remember it is a man-made concept enforced by conquest similarly the existence of a class of people with nothing to sell but their labour power is not something which has always been the case common lands shared by all was seized by force and the dispossessed forced to work for a wage under the threat of starvation or even execution as capsule expanded it created a global working class consisting of the majority of the world's population and it exploits but also depends on as Karl Marx wrote but the Brewers Razi therefore produces above all are its own gravediggers the future cap lism has only existed as the dominant economic system on the planet for a little over 200 years compared to the 200,000 years of human existence it is a momentary blip and so it would be naive to assume that it last forever it is entirely reliant on us the working class and our labor which it must exploit and so it will only survive as long as we let it

  1. Wal-Mart only has a 1% profit margin. Their profit has been on a downfall.

  2. The beauty of capatalism is that you have chose, if you feel the company is treating you unfairly guess what You can leave. Enough people feel the same way you do the company has two choses treat its workers better or go out of business. Free chose creates balance.

  3. Even if capitalism was a system born due to human nature, it wouldn't mean it's good. Assuming that something natural is good is an appeal to nature fallacy.

  4. Look, I got your idea and of course these are the ills of capitalism.. But doesn't capitalism brings innovation? why only the west is technologically the most developed? Because of capitalism… Believe it or not, there is no better system than free market….

  5. Right but shortsighted. Contracts or Shared Investment or Tax to Government Work or Free Prison Labor and shortsighted calling chores labor. I mean I clean my room is it labor? I worked on a farm for rent doing chores is it labor? Unpaid labor is more like I renovated a houses and got food in turn when I was homeless that is slave labor with no tenements.

    The Good is Investment for smart labor to afford some luxury and their within the availability of luxury items. Drama drives productivity to high motivation standards.

    The Flaws are uncertainty in most markets such as where am I going to live and what am I going to do for work. Neglecting great workers and thinkers for poor whens simply because they are poor.

  6. Make a Japanese capitalism vid pls! There's so many rules even for job interviews, like how many times you have to knock the door, how deep to bow etc, and overwork

  7. very good points that make sense, until I realized that its anti-white and doesnt work. Figure out the real (((Enemy)))!
    Signed, Murdoch Murdoch

  8. This video proves that he does not know what he is talking about and hasn't even read his own propaganda. For example, he promotes the idea that "capitalists" will only pay "workers" the bare minimum for survival. However, Karl Marx himself later abandoned this notion, stating that the laws that govern wages are "more complicated." He even ridiculed Lassalle for promoting this idea in the form of his "iron law of wages," and wrote to Engels in the 1860s saying that Lassalle "collects in his manure factory the party excrement that we dropped 20 years ago."

  9. Why a fraction of the profits lets say you make 100 hundred millions in profits and you have all employed including you let's say 999 employs with you become 1000 let's say 10% of the profits will return to all the people that make the company function(the 1000 people) math : 100 m USD * 10% = 1 m USD that one million is divided by 1000 so the result is 1000 USD per employs as a bonus. Tell me what you think? Don't be selfish with you 💡 S? 😁😀😂

  10. People where I live are so stupid they would rather back a corrupt senator and a crooked 1 percent police force that oust people based upon an income

  11. 5:13 Lol how is the primary function of the state to uphold the class structure? In fact, most capitalists (somebody who supports capitalism) would be against anti-strike laws and breaking up freedom of expression.

  12. On the idea of surplus value, I would agree but the laborers cannot sell at the full value on their own. They need the factories, and factories need them. Fairness is key.

  13. I may not agree with you on many things, but the power hungry are considered second ganders to both capitalists and socialists. We can agree that sweatshops and harm to environment is bad. 🙂

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