Fundamentals of Marx: Three Circuits of Industrial Capital

[REUPLOAD]
Marx considered industrial capital -- capital engaged in the production of commodities -- from the perspective of three different circuits: the money circuit, the productive circuit, and the commodity circuit. In this video, we will look at each of these circuits, how they relate to each other, and their relationship with industrial capital as a whole.

For more on this topic, see Marx's "Capital: Volume 2" (the primary source used for the video).

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Narration, script, and video graphics by "M."
Animated intro by Jack, co-host of the Auxiliary Statements podcast @AuxStatements on Twitter.
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Background Music:

[surafelgeleta]

Your channel helped me grow a lot intellectually. Keep up the good work!

[SomeGuy]

This is a repost right? Why was the original one deleted?

[DuckyPoBucky]

I love your work!!! However, I have a question. What role do service workers play in the role of Capital? Like I understand in this video you discussed the process of capital in its industrial form; however, is there such a thing as service capital? I ask because I work as a cashier at a supermarket and am wondering how my labor power affects the flow of capital if at all. I’m not producing any specific commodity that is being sold, so how is my sold labor power being used to increase profit? Again, I love your work, you are great at explaining Marxist theory, and am looking forward to the next video! Keep up the great work!!!

[Kyup]

Love these videos. Been struggling to read theory because I didn't understand a lot of the concepts they were talking about but this series really helped me

[leesnotbritish]

Sophomore engineering student and I’ve never seen some of the math notation before, it it proprietary? Mainly the … and the lines indicating a path in the expanded form of circuit 2

[defaulttmc]

The cartoon Marx looks naked. It's like it's flashing us all. The animators make Marx look like some perv. Put some clothes on him, for our sake!

[petrosbein]

Thank you this helped me with the first 4 chapters of vol 2

[gaberobison]

In short, capitalists are unnecessary. The state can fulfill their role if producing for personal consumption in the form of improving the wealth of its citizens and thus there ability to demand more consumption, thus enabling expansion of production

[michaelbailey]

great video but... 1:14 I'm still waiting for that future discussion

[pootca]

I don't like the ... in the formlus. It makes it vary messy.

[pjweiner]

“In the former two forms, the change is formal”. Come on that had to be on purpose

[inominado]

Hello, how does capital reproduce itself to the point of reproducing itself independently of human action?
Thanks.

[wiiuwiiu]

noiceee, quite complex topics delivered beautifully, will have to keep coming back as I'm sure I will understand more on repeat watches. I wonder: if the model is not '''real''', just concepts through which to analyze capitalist processes, then how do we judge the correctness/usefulness of the model? Are there other models that would be just as valid given the empirical data but lead to different conclusions? What are the motivations behind this particular formulation of the model? Finally, how does this help us theorize non-exploitative modes of production?

Just listing questions for myself to come back to, <3 for stimulating this

[syourke]

Marx based his economic theory on the labor theory of value, which is false. Human labor is not the only source of surplus value. Machines create surplus value, too, and much more value than human labor.

[atashikokoni]

Nice video but please delete the troll comments, to keep the comment area friendly and educational

[ritamsarkar]

Can you Please Please Please Please make a video on state capitalism?

[alexanderledvina]

I love how it's meant to look like an equation to fool the uneducated and naive into believing this is some form of science and the whole ideology is based off a premise that's historically proven to be false. Value is subjective and not derived from labor, whose value is also subjective..