Welcome to Capitalism
It's exciting.
You too can be a player!
(you've got no choice)
Get your own share of surplus value.
Surplus value?
What's that?
I. What is the Labour Theory of
Value? II. What is Capital and Capitalism?
Your time starts now...
Read up. Watch some videos.
www.marxists.org/archive/mandel
kapitalism101.wordpress.com
The Bailout...
$700 Billion
$700 Billion!
Wanda Sykes
Rich people got it good in this country ... Broke people are about to bailout rich people... It's welfare for the rich.
$700 Billion is a
lot
of money
$750 billion : cost so far of the war on Iraq and Afghanistan 850 million human beings are starving 2.6 billion lack sewage services 800 million are illiterate 640 million children lack adequate housing... And so it goes....
Behold Capitalism...
In your dreams
(Sigh)...More dreaming...
The net effect of any bailout
So where did this crisis come from?
Topics for discussion
FACT: The post war boom ended in 1974
FACT: It took the destruction and armaments build
up of the Second World War to pull the world's economies out of the last Great Depression (1929/33)
FACT
FACT:
The sub prime mortgage collapse while a symptom is not a main cause of the crisis.
FACT:
Governments have always intervened in the economy ... but always on the side of the capitalists. The free market is a neo-liberal myth.
Examples: Work Choices Social Welfare Superannuation Corporatisation of state enterprises The Prices & Incomes Accord Establishing investment focus...
●
FACT:
When you drive down incomes you also drive down consumption.
Work Harder
Work longer
For less
Remember?
And working people try to make up for the shortfall...
...by borrowing
Money -Commodity -Money
M-C-M
To survive
(us and whole third world countries)
To generate investment capital
(Capitalists)
Then...
Inflation rises
While the... General rate of profit declines.
Invest in production?
To produce commodities (stuff) = new value + new profit
Invest in claims on new value and profit
This is called
Fictitious Capital
In 1980, world financial assets (bank deposits, government and private securities, and shareholdings) amounted to 119% of global production; by 2007 that ratio had risen to 356%.
REPAYMENTS :Each dollar borrowed costs more over time. INFLATION: Each dollar you possess is worth less. MARKETS: As they collapse so too does the value of your investment.
Behold Capitalism...