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

M-C-M
Money -Commodity -Money

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...