Capitalist Economic Crisis
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Capitalist Economic Crisis
- 3. You too can be a player! (you've got no choice)
- 4. Get your own share of surplus value.
- 5. Surplus value? What's that?
- 6. I. What is the Labour Theory of Value? II. What is Capital and Capitalism?
- 8. Read up. Watch some videos. www.marxists.org/archive/mandel kapitalism101.wordpress.com
- 10. $700 Billion
- 11. $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.
- 12. $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....
- 14. In your dreams
- 17. So where did this crisis come from?
- 18. Topics for discussion FACT: The post war boom ended in 1974
- 19. 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)
- 20. FACT FACT: The sub prime mortgage collapse while a symptom is not a main cause of the crisis.
- 21. FACT: Governments have always intervened in the economy ... but always on the side of the capitalists. The free market is a neo-liberal myth.
- 22. Examples: Work Choices Social Welfare Superannuation Corporatisation of state enterprises The Prices & Incomes Accord Establishing investment focus...
- 23. ● FACT: When you drive down incomes you also drive down consumption.
- 24. Work Harder
- 25. Work longer
- 26. For less
- 27. Remember?
- 28. And working people try to make up for the shortfall... ...by borrowing
- 30. To survive (us and whole third world countries) To generate investment capital (Capitalists)
- 31. Then...
- 32. Inflation rises While the... General rate of profit declines.
- 33. Invest in production? To produce commodities (stuff) = new value + new profit
- 34. Invest in claims on new value and profit This is called Fictitious Capital
- 35. 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%.
- 36. 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.