Value, Price and Profit by Karl Marx - Radical Reviewer

#marxism #economics #explained
Radical Reviewer taking a look at, Value, Price and Profit by Karl Marx.

Twitter: @ReviewerRadical

Time Stamps:
0:00 Introduction
1:16 Purpose of Address (Promote a Rise in Wages)
4:27 Prices
5:32 Labor Theory of Value (LTV)
9:22 Why Fight to Raise Wages
13:36 Conclusion

[billmozart]

Does anybody else just get sad when you realize someone foresaw how capitalism would play out and offered a reasonable alternative 150 years ago? And we're still just helping rich people feel special

[lennartboehm]

for me the most striking thing was, learning, that profit for the capitalist are the work hours his employes put in but dont get paid for...

[justoneofmany]

This book is appropriate for the times. Can’t wait

[LAFC.]

The narrator says "Marx disagrees with Lenin's, State and Revolution, but this text by Marx was written before Lenin's book.

[benjaminstamper]

Can you do a Radical Review of “The 5-Thousand Year Leap”? From what I have read so far, it’s an appeal to centrism, full of Strawmen Fallacies, misguided definitions and misrepresentation of leftist ideology, and full of deep references to Christianity.

I personally would love to see a video on your review process! Where and why you highlight or mark different parts of the book and such.
Love your videos, keep up the good work comrade

[phrajilman]

LET'S FUCKING GO!!!
THANK YOU FOR DOING THIS ONE

[HowHighImHalfBaked]

would be cool to see you review, The Theory of the Leisure Class by Thorstein Veblen

[JohnT.]

Thanks there doggie. Really enjoyed the read and the education which more Lefties need to acquire.

[zrsullivan]

I should get a dog (and seize the means of production).

[ToxicTerrance]

Why doesn't this have more views?!

[nukiradio]

I think the inflation and raised cost argument against "15.00 per hour wages" is hilariously false. Not only have raises in wages not resulted in 1:1 rises in prices in most countries; but if it were a zero sum game, they'd be claiming everyone has the same purchasing power. Isnt the mere fact that different countries have different purchasing power proof that our own purchasing power can be improved???

[abbymaddox]

That explains why productivity is constantly rising with profit. How does this connect to the service industry though? For example, I was a window cleaner and when profits would rise this also meant I was expected to work faster, but two people can only do so much work in an hour. Is not hiring more labor a result of trying to cut cost for profits or is it just bad business by skimping down to make a profit? They did have bad business sense at times so that makes me wonder. I'm glad to be gone though cause I knew I was getting fucked. I had enough awhile back because it was implied at times I wasn't working hard enough when I was working as fast as I could with what energy I had. Made it worst when it was working for my in-laws who I lived with, so I took it personally.

[Necro-wvhw]

Carl Marxs said the n word in this, sus

[EsatBargan]

Gonzalez Daniel Anderson Charles Robinson Matthew

[Jcewazhere]

The surplus value theory is great for stuff makers, but what about service jobs?
Not only are the goods intangible, but their value can vary wildly and seemingly without reason.

From ringing up sales and tearing tickets at a movie theater to working at a cyber security firm I've rarely had a job that produces tangible goods.
I know I'm being shafted, especially at my last DLP job. I even started trying to unionize that place before getting laid off, but with no tangible goods the only thing I have to go on is reported profits.

At the DLP place we were making $15 an hour, 25 hours a week. It required a bachelors and a Security+ certification, aka ~$40, 000 in debt. Just on one of the clients I supported the company was making tens of thousands per month, while only paying out a few hundred a month in labor and other costs. There were 5 teams of analysts each with 5 clients, so they were making bank while us workers didn't even make enough for rent. Most of us had 2nd jobs, despite having a bachelors and Sec+.



Mini rant aside my question/request remains: What about jobs where nothing tangible is produced, like service jobs?

[CamiSheep]

Thank you, was having a bit of trouble understanding this one

[EsatBargan]

Miller Sarah Rodriguez Lisa Robinson Barbara

[BrainInJar]

I just want to give you a hug and a kiss on the forehead. You're a good boy.

[MrDoomedtofail]

Thank the algorithm, hadn't seen a video of yours in a while, then this one popped up only for me to discover I was no longer subscribed to your channel.. resubbed and hopefully youtube leaves it that way! :)

[thomase]

11:28 Why do you think this contradicts State and Revolution? Marx is talking about fighting symptoms here not about the role of the state during and after revolution.