POLI 243 Lecture Notes - Classical Marxism, Overproduction, Underconsumption

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18 Mar 2013
Liberalism and Marxism
Marx Attacked Liberalism
Marx criticized liberal policies by claiming they failed to deliver promised results
What I am observing is not really voluntary exchange
When land was taken from a village, it was land taken from the commons
That land was privatized
Those people could not succeed as farmers but they moved to the cities, unhappily
Involuntary exchange
Arguments based on dialectical logic (events are driven by contradictions)
Contradictions are not obvious
They are logically identified inconsistencies
Marx, there are periods of stability and then change
The change has inconsistencies
Marxism relies on the Labour Theory of Value
All value is created first by labour
Classical Marxism
The Primary Actors are Social Classes
Classes act in their own material interests
Expropriation of surplus value is exploitation
Material gains are being reaped other than workers
The Labour Theory of Value
Value, Kapital, Wages, Surplus Value
A liberal would have no problem with this except V may be Cost and the other, the
things that go into producing the good, and SV would be Profit
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