Crisis! (the overaccumulation of capital) 1 of 2

[SilverCrimsonDragon]

Sir, you are a GENIUS at explaning Marx's theories... either that, or English is a much easier language to understand such theories than Spanish...hehe

Anyway, thanks a lot!!!

[ipwnorcs]

what cartoon is that?

[exorcistbitch420]

It could be argued that when a crisis occurs, it is both as a result of internal and external factors.

[cris750]

This is why I think that the ideas of David Ricardo should be followed and implemented. Those who work and contributed to the state would get a return equivalent to their input to the circulation of wealth. At the same time prevent the hoarding of wealth(money).

[ipwnorcs]

@cris750 Marx dispensed with ricardos fallacies in capital

[cris750]

@ipwnorcs Thanks,I am going to have to reread it.

[oraci]

My 2 cents:

Capitalism is not industrial manufacture.

Capitalism is a particular organization of Industrial manufacture.

To give a better example of a contrasting society to modern capitalism you should talk about a society where workers control the means of production and wealth is spread acoording to effort (not need).

The communal society you talk in the begining, worked because people had no need of compeating for resources. So it is not a good example.

[brendanmcooney]

Where do I state that capitalism is industrial manufacture?

I don't understand your comment about comparing primitive communal societies to capitalism "not working". What doesn't work about it. The example is not meant to idealize these societies but to show, by way of comparison, what is unique about capitalism.

[oraci]

"Where do I state that capitalism is industrial manufacture?"

well it seems to me that in 1:20 you start to descrive capitalism. If you are not descriving capitalism there than I am sorry I was wrong.

[brendanmcooney]

Yes I do describe capitalism there. What does that have to do with industrial manufacture? Are you referring to the picture of a factory? It so happens that industrial manufacture was an important part of the development of 19th century capitalism. What is your point? I don't define capitalism as a particular organization of production at any point. In all of my videos I am very consistent w/ my definition of capitalism as a social relation.

[oraci]

capitalism is not about the industrial relations (division of labor, etc) but some particular relations to means of production (Ownage Vs Use).

so what you are discribing in 1:20 is not capitalism is Industry.

you start to describe capitalism in 8:36.

If a capitalism apologist sees you video he will have a big strawman of an argument to cling on.

[brendanmcooney]

I begin my explanation of capitalism in the same way Marx does by explaining the way value coordinates the social labor process in a market society. After establishing some crucial points about value I proceed to a discussion of the inherent antagonisms in the class relations of a capitalism society. But value must be established prior to an understanding of the wage-relation.

[oraci]

"I don't understand your comment (...) "

My critic is simple: you are not describing to diferent societies in the same situation. You are describing two societies in two diferent situations.

In one there is competition for resources.

In the other there is no need for competition of resources.

A better contrasting example, would be a society where there is competition for resources and where the workers control the Means of P.

then you could extract what is unique in capitalism.

[brendanmcooney]

How is competition for resources an important characteristic for the comparison I am making? What do you think is the purpose of my comparison?

[cris750]

After decoding the meanings within the Book of Revelation I then will in later chapters go into modern economics and show flaws in various systems. My conclusion in my book: 'Book of Revolution' would present a pro-Ricardian view and also using ideas from the Old Testament(w/ Islamic views) concerning economics. I will also discredit parts of K. Marx views but also modern capitalist views. Conclusion: Recycling,space program, and no marking nor chipping of human beings,etc.

[cris750]

Correction: " Epidemic of overproduction ".

[cris750]

I think Karl Marx described this in his Manifesto as " Crisis of overproduction ". I disagree with his Atheistic view of life but as I have found out the Bible is filled with examples of Pro-Socialist leanings in the sphere of economics and social justice and economic distribution of wealth. Evidence: ECCLESIASTES ch.5vrs.6-12,2nd Kings ch.22 vrs.3-5,Proverbs ch.22 vr. 2

[cris750]

The book of Ecclesiastes(wisdom of Solomon) provides us a "David Riccardian" view of economics. Ecclessiates ch. 5 vrs. 9-12 Most prophets of the Bible are portrayed as revolutionaries within their own books i.e.,directed by God.

[VolanteRossaVideo]

"The owners of capital will stimulate the working class to buy more and more expensive commodities, houses and technologies, pushing them to take more and more credit, until their debts they will become unbearable. The non paid debts will conduct to the bankruptcy of the banks, which they must be nationalize, and the state must take the road that will bring to the communism at the end."

K.Marx,1867 from "The Capital"

[1HarveyBirdman]

On the issue of growth, capitalism at one point seemed to have solved the issue of limited growth by creating more value through capital investment ventures which characterised the financial market as opposed to investing in the production part of the economy. But as we've all witnessed, the pursuit of limitless growth in the financial markets also has its contradictions...

[brendanmcooney]

Yes b/c financial markets can't create value by themselves- they can only provide capital for productive industries to use to employ labor. The search to restore profit rates via speculation and debt generates bubbles of fictitious value just making the crash bigger when in comes.

[1HarveyBirdman]

One of the most problematic features of our current system is that of reification, something you subtly eluded to in the video. Social systems created by man take on an external and 'objective' quality that dominates man.

[pushit316]

well done

[MorganAnsons]

Fantastic video.

[Simpateeko]

So your saying value is placed upon money it's self and the goal simply becomes the accumulation of money?

[brendanmcooney]

kind of. Value is measured in money and so the goal is to accumulate more value (money) simply for the sake of accumulating more value (money).

[Simpateeko]

Thanks

[pastrychef1985]

Or rather, money is "trade in general", making the transition from one use-value to another easier, but also taking on the character of capital at a certain point.

Money = capital in its essense, as with all forms of value in capitalist society, it's an essential contradiction that use-value is only facilitated by profitability.

[metramil]

VIVA LA revolucion DEL PUEBLO!!!

[edoctorno]

long live the comunism !!!

[tomitstube]

i really don't know what the intent of this video is. a lot of your argument about accumulation is not unique to capitalism. only in that capitalist's allow accumulation to individuals and business. there are internal and external factors to every monetary system. again, quality of commodities is not exclusive. you don't mention technology and it's effect. the industrial age leant it self better to capitalism. didn't russian communism end internally?

[brendanmcooney]

the intent is to further an understanding of the unique nature of capitalist crisis. Accumulation of value for the sake of accumulating value is unique to capitalism. In past economic systems it has been the accumulation of use-values not exchange values that mattered.

Production solely for the sake of exchange value is unique to capitalism. I deal with technology more thoroughly in other videos... see for instance "The Falling Rate of Profit". Here I merely talk about efficiency.

[leosal7]

Vielen Danks, Herr McCooney for this expose which I'll make sure to Share!!

[ezseeker]

Very good video.

Easy

[Socialism4Ever]

This video is win. Because not only is it correct, but puts Marxist theory very simply and interestingly for any worker. And believe me, the American workers are going to want things like this real soon once Emperor Obama has backstabbed them.

[FreiheitKampfer]

I have 2 things to say:

1. America is NOT Capitalist, and wasn't during either Depression(assuming this is one). It is a variant of Mercantilist mixed economy, that is becoming Keynesian..

2. You seem to presuppose that demand is limited. I'm curious how you'd argue that.

I am persuaded by economists who argue that were it not for the government, the market would operate just like the tribe you showed, except with competing currencies. Government, via interventions, mis-allocate resources.

[brendanmcooney]

demand is limited by the amount of wages people have to spend.

your definition of capitalist is different than mine. If you want to discuss those differences watch my video "what is capitalism" and then consider which definition is more useful in describing the world we live in.

Yes without states capitalism would collapse into tribal anarchy and warlordism, though probably not hunter-gatherer style. But i'm sure the capitalist class would never allow this to happen.

[FreiheitKampfer]

I watched the video

1st problem: You seem utilitarian. The subjective theory of value makes more sense to me.

2: The prices of labor (wages) is, of course, determined by the demand/supply and competition for each person in that position.

3: You seem to support government manipulation of the market ('adding liquidity', etc). It's not needed. Personal incentives to take advantage('exploit') of unbalanced markets bring the market to stability. ...Maybe that's an unfair advantage for the rational

[FreiheitKampfer]

expansion on #2:

*An increased demand for labor would mean an increase in wages(assuming monetary forces are balanced).

*Without the government to enforce 'minimum wage', I think it is reasonable to assume that more percentage-based wages would be the norm, since that maximizes incentives to work hard and efficiently.

~anarcho-capitalist

[brendanmcooney]

1. The subjective theory of value cannot, by definition, explain the way social labor is apportioned between different tasks, the social relations of capitalism, economic crisis, technological change, economic growth, etc, b/c it refuses to look behind price for any deeper meaning.

2. What is your point? There is a difference between the price of labor power and the value created by labor. This is the source of profit.

3. I'm not talking about states at all.

[Gufberg]

Wouw, great video. I don't understand why this haven't got hundreds of thousands of views.

Very educational, and easy enough to understand for even me to get it :).

[DKPHTK]

Right!

America is not Capitalist!

Venezuela and Cuba are not capitalistic Countrys.

And the USA is a imperialistic Country.

Long live Socialism/Communism!

[goodagofilms]

typo sorry "Illuminati"

[goodagofilms]

This is great ,and if it wasn't for the illuminate masters you should have a show or be a you tube partner.

[FreiheitKampfer]

*eye roll*

[JFMJJ]

Excellent.

[tonyman1989]

Another great video.