The Circulation of Commodities through Money | Chapter 3

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5 жыл бұрын

This video covers Chapter 3 - 'Money, or the Circulation of Commodities' of Das Kapital by Karl Marx. In this chapter, Karl Marx takes a closer look at money and its different roles.
Labor Theory of Value: en.wikipedia.org/wiki/Labor_t...
Quantity Theory of Money: en.wikipedia.org/wiki/Quantit...
pages summarized: 36

Пікірлер: 58
@ChapterbyChapter
@ChapterbyChapter 3 жыл бұрын
Support the channel and get the book through our (affiliate) link: amzn.to/3bdHSiB
@kra3525
@kra3525 Жыл бұрын
I thought the background audio was terrible and too loud. But as I kept watching and I focused on the young gentledude's voice I began to calm down and focus on the spoken words. Huge flex when he was reading in German and switched back to English. Somehow the whole video worked out pretty well. Thanks for an awesome video gentledude.
@Filmsfromthebear
@Filmsfromthebear 5 жыл бұрын
These are very intuitive videos! Thanks a ton for taking the time to put them out
@4umata
@4umata 4 жыл бұрын
this is nice but pls filter abit more the background music, it sounds way too upfront and interrupting I feel
@virtusoroca7724
@virtusoroca7724 4 жыл бұрын
There's a point wich sounds quite strange to me. That some marxists reject Marx theory of value. Very unlikelly. This statement was linked in the video to the fact that things that dont have value, could have price. I dont see how the first statement connects to the other. Specially considering that the case for price-with-no-value issue is explicitly tackled by Marx in the last chapters of Das Kapital, book 3. He calls this an irrational value-form, and identifies that price in this case is determined not by socially necesary labor-time to produce it (afterall the thing in question is not product of labor) but by future gain (the obvious case is price of land, being determined by land revenue). Maybe youre presenting chapters before reading the hole book. I highly recommend reading it all first. I could give you guys some help if you like. Let me know. Great vídeo anyway. Thanks for the effort.
@stogerat
@stogerat 3 жыл бұрын
There are analytical marxists or some other schools of marxist thought that reject the LTV but come to a lot of the same conclusions regardless while valuing marx's materialist theory of history or other aspects of his philosophy/sociology/economics.
@im2randomghgh
@im2randomghgh 21 күн бұрын
He also significantly overstates modern dismissal of the labour theory of value. It doesn't seem to be a complete account, because of irrational prices and unrefined resources. The same is true of marginalism though, which short circuits when supply and demand are in equilibrium.
@marcusmeindel2103
@marcusmeindel2103 2 жыл бұрын
Wow, really precise! And well played jokes! I love the last second after the quotations :) Thanks for doing this and greetings from Graz!
@sholomantian
@sholomantian 4 жыл бұрын
Why this style of music in the background?
@seedee3d
@seedee3d 3 жыл бұрын
cancer
@B_e_e_k_a_y
@B_e_e_k_a_y 3 жыл бұрын
@@seedee3d lmao
@pampachakraborty8309
@pampachakraborty8309 2 жыл бұрын
@@seedee3d bro people with adhd may find this nice
@socialistquickfix
@socialistquickfix 3 жыл бұрын
great video, background music is fine why the hate
@wy7128
@wy7128 4 жыл бұрын
which episode is the concept of socially necessary labor time?
@SaifRizwan
@SaifRizwan 4 жыл бұрын
Great stuff, but the background music's a little distracting.
@ChapterbyChapter
@ChapterbyChapter 4 жыл бұрын
We've been getting that a lot lately and I agree, do you think we should turn it down a bit or do videos completely without background music? -R
@johan_r59
@johan_r59 4 жыл бұрын
@@ChapterbyChapter I'd say completely get rid of it.
@pampachakraborty8309
@pampachakraborty8309 2 жыл бұрын
@@ChapterbyChapter people with adhd may find it helpful
@SuicidalLaughter
@SuicidalLaughter 4 жыл бұрын
I would argue the labour theory of value can explain why uncultivated land has value. That land of itself may have no value, but labour done elsewhere can imbue it with value. Imagine for a moment land surrounded by ocean with no fish, covered in useless rocks, too far away from any place to be easily reached and with many other hospitable islands coler to shore. This land would have no value or price and would not be bought or sold. However, imagine the land on the pacific coast before colonization by Europeans. At first it had no value, as the labour being done on it by Natives wasn't being used to produce commodities, but then, as the Europeans colonized the lands displacing or wiping out the native and so giving them access to it can building trails or rails near the land will give it value and building an timber mill elsewhere will make the trees more useful and therefore bring them value. This value was not inherent in the land or the trees on their own but in the potential to use labour upon them to create value. That potential in itself is created by labour done elsewhere and thus has value, and the price of that land is an estimation of its ability to facilitate future profits, that price is that value which will be re-payed by employing labour-power on that land in the future. And it must be re-payed by doing so, for if no labour is done on the land, for example because better land was found or it's resources lose their demand, it loses it's value, and ceases to be a commodity.
@jotapeguarnieri
@jotapeguarnieri 4 жыл бұрын
I see your point, but I don't think this means uncultivated land has "value". It has a price, which reflects its potential for value generation. It doesn't, however contain actual value, which is only generated in its cultivation.
@langaa09
@langaa09 4 жыл бұрын
Land doesn't have value. You cannot say 'x' sq meters of land ='y'' amount of cars. You can only point to the land that you are selling/want to sell and offer a price for exhange for that particular piece of land. There is no general term for land value e.g. 1squ meter land. Why? Because there is no form of equivalence in the labour in both objects. Ie the land has none while the car has a definite amount. Therefore, land can only have a price, but it cannot have value
@seedee3d
@seedee3d 3 жыл бұрын
@@jotapeguarnieri No, but the type of soil on the land may have use value
@chadmarx7718
@chadmarx7718 11 ай бұрын
This is a point i think david harvey slightly touched on with his newer video lecture on capital. That there's a case of externalities that may give value to non-commodities (i probably misunderstood him, but oh well)
@nbvw3
@nbvw3 3 жыл бұрын
Judging by your accent in the German passage, you should have said "Dinge, de wos an und fia sich kaane Woan net sand..." (Servus von einem Wiener)
@ChapterbyChapter
@ChapterbyChapter 3 жыл бұрын
Servus zruck! Gfreit mi, dass se Wiener des ah anschaun!
@Zach98506
@Zach98506 4 жыл бұрын
Thanks
@louisparry-mills9132
@louisparry-mills9132 4 жыл бұрын
Hey, great video. You mention that some later marxists reject the labour theory of value, do you know who the most prominent examples of this are?
@SJPYT
@SJPYT 4 жыл бұрын
Why the annoying background music?
@costbart
@costbart 4 жыл бұрын
yeah the minecraft music threw me off 35 sec in.
@schaeffer1994
@schaeffer1994 3 жыл бұрын
That is a lot of gesticulation
@alancarlosms
@alancarlosms Жыл бұрын
Excellent content, however I can't concentrate because of the background music.
@amyhernandez4407
@amyhernandez4407 4 жыл бұрын
Why is the music so sad?
@padraigtomas3617
@padraigtomas3617 4 жыл бұрын
Why any music? I want to hear what is being said. Regardless of the nature of the music, it is a distraction.
@TopLobster11
@TopLobster11 3 жыл бұрын
Because USSR failed😂
@authenticallysuperficial9874
@authenticallysuperficial9874 Ай бұрын
Conceding that the LTV is obviously wrong then saying "be nice to poor little Marxy, he doesn't know any better" is hillarious 😂
@authenticallysuperficial9874
@authenticallysuperficial9874 Ай бұрын
Entertaining a person's delusions is not a legitimate expression of kindness
@authenticallysuperficial9874
@authenticallysuperficial9874 Ай бұрын
And at any rate Marx is dead.
@triggeredliberal7236
@triggeredliberal7236 2 жыл бұрын
Read the Critique of the Gotha Program, which is quite an insight to his knowledge of what a Communist Society would look like, the end of it being very famous or infamous really, I think at the start of his Critique, the misconception that Marx thought Labor was the source of value isn't exactly true, Nature is as another source as Labor for Value for him and he used that knowledge to critique the program and Lassalle , it was true for many of the others before him though who believed in it
@chadmarx7718
@chadmarx7718 11 ай бұрын
Value and use-value are different things. Also when marx uses the word "wealth", he means use-values. He even says in chapter 1 of capital that wealth may increase while value goes down
@ws-ob4wy
@ws-ob4wy 4 жыл бұрын
The background music is annoying.
@JohnRunaway.Official
@JohnRunaway.Official Ай бұрын
I really appreciate this series, but I can't focus because the background music & the waving of hands is constantly distracting me 😂
@RobobTheGreat
@RobobTheGreat 2 жыл бұрын
Upvote/like this comment if you were expecting the red-haired woman from the first 2 videos to be narrating this one as well.
@jayrickyvillarante4202
@jayrickyvillarante4202 4 жыл бұрын
Please remove the background music!
@ChapterbyChapter
@ChapterbyChapter 4 жыл бұрын
haha unfortunately i don't have the video without music anymore
@ChapterbyChapter
@ChapterbyChapter 4 жыл бұрын
but for new videos i'll keep that in mind!
@jayrickyvillarante4202
@jayrickyvillarante4202 4 жыл бұрын
@@ChapterbyChapter Thank you!! Your videos are great except the background music. :)
@cesaralvarez2453
@cesaralvarez2453 4 жыл бұрын
Bring back the girl shes nice.
@the1onlynoob
@the1onlynoob 2 жыл бұрын
Ah yes, private power of private persons, Otherwise written in short as ‘pp of pps’
@paddycowhey3406
@paddycowhey3406 3 жыл бұрын
I love the vids but I like the girl more bc she's cute
@Luke-pk3rb
@Luke-pk3rb 9 ай бұрын
Good video but the background music was godawful it was so hard to concentrate on what he was saying cuz I felt like sleeping to that slow soft classical music
@tylertownsend4074
@tylertownsend4074 Жыл бұрын
The music on this video is so distracting 😢
@TopLobster11
@TopLobster11 3 жыл бұрын
Him: If you are here because of Marx’s revolutionary ideas and are getting frustrated with Math, bear with me. Me, a Capitalist, who’s here for the Philosophy and also to win debate against my Commie friend: Yesn’t
@pampachakraborty8309
@pampachakraborty8309 2 жыл бұрын
Respect
@FLLMALL
@FLLMALL Жыл бұрын
If you really want to debate with them, I'd recommend actually reading the book. At the end, however, you might actually become a commie yourself so...
@tofolcano9639
@tofolcano9639 3 жыл бұрын
3:47 Completely uncalled for side note... Especially after you talked about labor theory of value with no problems on chapter 1 and 2. Of course economists disagree with the labor theory of value, they haven't worked a single day in their lives! Lmao
@NomeUtenteNonDisp
@NomeUtenteNonDisp 3 жыл бұрын
Dude! You gesticulate, like, A LOT. And I say that as an Italian. That's very distracting.
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