Guide to Marxist Economics - Ep. 12 Capital & Surplus Value & Cost of labor

Each episode of the series will discuss important topics of Marxist political economy.

The video covers the following topics:
-what is capital?
-the M-C-M & C-M-C circuits
-where does surplus value come from
-what is the cost of labor power
-the basic economic law of capitalism

The textbook

Other episodes: Communism For Beginners - Basics of ML playlist.

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[martindiaries]

The thumbnails are just glorious every single time! This is the best economic series! Thank you comrade FinBol! 🍀🇻🇳

[shahramtondkarmobarakie]

Dear finbol.
Persian soviet socialist republic/Tudeh party video.
-yours truly

[Karkafs-Desiderium]

May I ask why you choose this book to make such a long series about? Its great I enjoy it!

[slipknotboy]

Great work as always, comrade! It's always awesome to see you've uploaded.
I don't think it's an exaggeration to say you/ your efforts are a treasure to the international communist [(anti-revisionist) ML] movement. I was recently saying as much to another comrade, heh.

[I'm not trying to be an asskisser; I think that's legitimately the case.]

[kenseitakesi]

Ei kaikki voi olla yrittäjiä. Jos kaikki olisi yrittäjiä kuka tekisi voiton yritäjille. Ei kukaan. Kapitalismi on täysin järjetön järjestelmä.

[albertarthurparsnips]

If you’ve got the time ( & you can bear to sit through his ‘work’ ) I’m hoping that you can ‘deconstruct’ TIK’s dreadful new vilification of Karl Marx…

[chernoblyat.]

Hey comrade, i have been watching your videos and channel for the past few months since i discovered you, and i like watching your vids because you go into proper details and mention the sources too, but i just wanna ask, will you make a video on Tito, his revisionism and about the Stalin-Tito split? Some of the marxists i know (mostly from Serbia) still praise and support Tito while many of my other Marxist friends think tito of being a revisionist (i have tried looking at tito from a historic perspective but the history fhat i mostly come across about tito is from westerners who speak about how much of a strong man he was to oppose Stalin and open up to the west).
Thats it comrade. Apart from that, i really love watching your videos (and found your channel because of the videos you made about the purges in the Soviet Union)

[JohnT.]

Another banger from Finbol. Every employee, whether hourly or salaried, has to sign a contract with capitalists or petite capitalists. I like calling it "theft through contract", the binding legal document that gives the employer the right to do whatever the he/she wants to within legal bounds up to dismissal without reason. That is only possible under a capitalist controlled government and a capitalist controlled government will always have weak or ignored labor laws. It is hard these days to raise class consciousness considering that revisionism, which is capitalist concepts introduced into Marxist concepts, has weakened the Marxist concept of the workers collectively owning the means of production and distribution and having a workers state. We see China has exploitation of workers and profit making by the capitalists class both foreign and domestic. Even state own enterprises has exploitation of the workers. Yet, far too many ML's have fallen for the facade of "Socialism with Chinese Characteristics".

You speak of Sinified socialism. There is nothing of the sort in nature. There is no Russian, English, French, German, Italian socialism, as much as there is no Chinese socialism. There is only one Marxist-Leninist socialism. It is another thing, that in the building of socialism it is necessary to take into consideration the specific features of a particular country. Socialism is a science, necessarily having, like all science, certain general laws, and one just needs to ignore them and the building of socialism is destined to failure.

-Joseph Stalin, From the Conversation with the Delegation of the CC CP of China in Moscow

[primaryendo]

Can you do a video on what would life be like in a communist society? That would be awesome

[fuwe]

have you read the work of ian wright, he has a good number of short illustrative articles on value related topics

[pedrocavalcante]

What does it mean to "abolish the value form"?

My understanding was that socialism entails a transition from production for exchange-value to production for use-value. I'm not entirely clear on what it means to abolish value entirely.

[wissen]

Pre kapitalstem: all are Pore but the Rich
After kapitalisem: non are Pore (with a dictatorschip Most are Not Pore )
Conclusion kapitalisem is Bad ?? How

[lessgoo]

Hey I just wanna ask an off topic question since idk if ur gonna talk about this:
(Also great video btw)

Why were there cult of personalities in so many socialist countries? I know Stalin wasnt responsible for his but did for example eastern europe just copy him? For example Rakosi since you have a series on him (which I look forward to)
The other thing is, why did eastern eu. become revisionist? For example Kadar or Kruschev?
Thanks in advance comrade.

[numbersix]

What's the difference between labor and labor power?

[Ein_Kunde_]

Catching a fish takes 5 hours ???

😂 Bro ! What empty lakes are you fishing in ? 😂