Understanding Marx's Capital Volume 1 Chapter 12 - The Concept of Relative Surplus-Value

Karl Marx's Capital Volume 1
Part 4 - The Production of Relative Surplus-Value
Chapter 12 - The Concept of Relative Surplus-Value

This video is a look at Chapter 12 of Marx's Capital, The Concept of Relative Surplus-Value. Marx is examining a different way in which Surplus-Labour is extracted, by the devaluation of Labour-Power via Productivity and the devaluation of Commodities. Marx also examines the coercive competition between capitalists that drives the whole system of Capitalism on and on.

0:00 - Part 4 Chapter 12
00:15 - Absolute Surplus Value
02:05 - Relative Surplus Value
04:44 - Devaluation of Labour Power
05:26 - Productivity
08:52 - Law of Competition
13:12 - Time at Work





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[setajanot]

I just wanted to say that your capital series are amazing. I have been struggling to read and understand Marx’s capital, as my first language is not english. Thank you comrade

[AaronRinggenberg]

as soon as I got to the part where he said that the only way to increase surplus value, with hours & workers equal, was to increase productivity, I was like THAT'S IT! capitalism has, by its own motivation, developed the productive forces and given us a previously unfathomable amount of cheap commodities... while appropriating nearly all of that wealth, such that laborers can't even get more leisure for being able to make something in 1/2 the time as before.

this book is full of so many of those moments.

[lorenabueno]

thank you for the video!!!, very helpful in deciphering his concepts and their relationship, im studying the financialization of housing, and a prominent figure is David Harvey of the UK and he quotes and builds on Marx's theory

[johnmaris]

Not all form of production are created equal. Everyone can tell story, but still few can be Stephen King. The same raw material given to 2 different Craftsmen can still produce different result in value.

[kouverbingham]

bro! Fuck! This chapter would have been so much more frustrating and difficult to make the connections without these videos! Feel so lucky that i started reading capital right when you started cranking these out. These are so good, thanks for making them.