Week 4. Rühle part 4, Marx chapters 4, 5 and 6.


1. What is the purpose of the circuit C-M-C?
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2. What is the purpose of the circuit M-C-M'?
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3. Where do profits come from?
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4. What's wrong with the idea that profits come from the capitalist's 'abstinence' in investing his wealth in production rather than consuming it straight off?
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5. Are workers paid a fair wage? If so, how can we talk about exploitation?
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6. Why say labour-power is bought and sold, rather than just labour?
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7. What is wrong with the academic economists' definition of capital? 'Capital, in sum, is any previously produced input or asset of a business firm or any other producer' (Baumol).
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