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Econ. Oct. 15

Published on Dec 02, 2015

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PRESENTATION OUTLINE

1.

karl marx

mr. melkonian 
2.

economics comes before politics, science, art, and religion

because it determines the course of human history!!
Photo by WA State Library
3.

colaborated with friedrich engels

wanted to overthrow the corrupt ruling class of landlords
4.

bourgeoisie

rich jerks
5.

published the communist manifesto

said that workers were exploited (proletariat)
Photo by midiman
6.

workers should rise up

'proletariat have nothing to lose but their chains'
Photo by StePagna
7.

a lot of revolutions took place

russia was first successful one in 1917
Photo by Earls37a
8.

karl Marx

  • Born in German Rhineland
  • Excellent scholar, went to Bonn University (philosophy)
  • Was an editor of a newspaper
  • Got in trouble because he denounced govt. decisions
  • They censored the paper first and eventually shut it down
9.

as he got more outspoken/revolutionary

he fled to germany 
10.

capital

cold critique of economics, explained why CAPITALISM would destroy itself 
Photo by the JoshMeister
11.

The times

  • Saw ill effects of Industrial Revolution
  • Workers in steam-powered factories worked long and unsafe hours
  • No laws against child labour - no time for school... stay in the slums
12.

capitalist system is immoral

people who exploited it were evil!
13.

all the work was done by working class

but they received very few of the beenfits
Photo by nhussein
14.

communist revolution would start strongest

in western europe (most exploitation of workers)
Photo by Kenny Teo (zoompict)
15.

eventually will spread through the world

Photo by Yogendra174
16.

international socialism

will be the norm
Photo by glennshootspeople
17.

worker-governed society based on the guiding principle

"from each according to ability,and to each according to need."
Photo by Ed Yourdon
18.

labour value

the value of any item is the value of all labour used in its production
Photo by Zoriah
19.

includes direct labour supplied

as well as indirect labour (machinery/manufacturing)
Photo by Kelly Short6
20.

workers only receive a portion of their labour's worth

in capitalism
21.

surplus value

the amount stolen from workers in the form of profit for capitalist
22.

A vampire fang requires $5 of labour, $1 of material, and $1 of wear and tear on machinery (depreciation). Capitalists sell it for $20. Value of indirect labour is $2 (material/machine) , surplus value is $11 (how much exploitation is taking place).

Photo by Len Radin
23.

premise of capitalism

pay people less than they're worth since 'reserve army of the unemployed'
Photo by kristiewells

Peter Melkonian