Labour, Value and Exploitation

This eight week course comprising four fortnightly classes begins on 21 May 2018.

MML's online courses - with access to online resources and tutor/participant discussion forums - are an ideal way to learn remotely, flexibly and at your own pace.


This beginner's level course provides an initial introduction to the Marxist analysis of capitalist economics – comparing and contrasting its approach to that provided by neo-liberal and Keynesian interpretations.


The main text is Marx's pamphlet, Wages, Price and Profit.  This was written in 1864 at the same time Marx was finishing his great work, Capital, Volume 1, and boils down the arguments of Capital to their simple essence.


At the end of the course you should be able to contest arguments that:

  • Wages increases cause inflation
  • Collective action by workers can never increase wages in the long-run

And instead argue that

  • Labour is the only source of new value
  • Capitalist production is organised to maximise the rate of exploitation
  • Capitalist production is inherently crisis-prone.
  • Collective action by workers enhances productivity and overall economic demand


The four classes are:

1.  An introduction to Karl Marx and Wages, Price and Profit

2.  Class, political power and exploitation

3.  Labour Value and capitalist crisis

4.  Contradictions of capitalism


The course fee is £25 waged and £10 unwaged. 




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