Labour, Value and Exploitation
An online introduction to Marxist economics
The course runs for eight weeks from Monday 10 April.
It caters for those starting out and also those with more experience.
It is based on interactions between students and between students and the tutor.
Register up till Monday 10 April: Fee £20 (unwaged £10).
Upon payment you will be sent by email your user name and password and the ULR for the education website.
This course provides a basic 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 ofCapitalto 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