Material Detail

Lecture 11 - Marxian Exploitation and Distributive Justice

Lecture 11 - Marxian Exploitation and Distributive Justice

This video was recorded at PLSC 118 - Moral Foundations of Politics. Exploitation is an important technical--not normative--concept in the theory of Karl Marx. Although we are dealing with voluntary Pareto transactions, under capitalism, exploitation occurs whether or not an individual is better off. Capitalism is destined to fail, says Marx, because of (1) the possibility for liquidity crises, (2) the nature of capitalist competition inducing declining marginal profit on the industry-wide level, (3) the fact that capitalist competition eliminates competitors and promotes monopolies, (4) weak demand, as workers could not pool their money and buy all that they produce, and (5) the fact that "workers will come to realize that they have nothing to lose but their chains." However, communism... Show More
Rate

Quality

  • User Rating
  • Comments
  • Learning Exercises
  • Bookmark Collections
  • Course ePortfolios
  • Accessibility Info

More about this material

Browse...

Disciplines with similar materials as Lecture 11 - Marxian Exploitation and Distributive Justice

Comments

Log in to participate in the discussions or sign up if you are not already a MERLOT member.