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Lecture

POLI 364 - Lecture (Feb. 14th/16th)

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Department
Political Science
Course
POLI 364
Professor
William Clare Roberts
Semester
Winter

Description
thFeb 14LuxemburgDefending her argument concerning capitalist accumulationHer argument being that economic growth is a fictionCapitalist Production 1Must replace the means and materials of productionEg the capitalist produces the system of capitalist exchange2Must reproduce the means of subsistenceEg Labour the capitalist3Must produce means to expand productionThis is where the surplus value is funneled Luxemburg argues that capitalism has not made individuals wealthier in a monetary per capita basis She believes that one has more material goods because of capitalism but that these goods are worth less than in the precapitalist age and that the goods are divided amongst more individuals further diluting their valueThis appearance of economic growth is actually economic redistributionCapitalist accumulationproduction on an expanding scaleThe central problem of capitalist production with its three tenets listed above is who will buyJust because one capitalist can sell her goods does not mean that all capitalists can as wellThe totality of capitalist reproduction is simply capitalistcapitalist exchange A sells product X to B who uses it to make his product Y which is sold to C where A B and C are all capitalistsThis is the same for the means of subsistence product sold to labourer who then uses it to subsist and therefore to recontribute back into the capitalist system via his exploited labourHowever this would only prop up a static system and not a dynamic one in which there is expansion ie accumulation Therefore capitalism must seek to make
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