Date of publication: 2017-08-30 04:26
The constant drive of the capitalists to keep up with “socially necessary” labour-time also explains why capitalism cannot exist without continually revolutionising the mode of production. In its turn, the introduction of machinery, together with an expansion of capital, means an inevitable tendency towards the concentration and centralisation of capital.
The action of squeezing supplies by monopoly companies will force up prices, as demand will exceed supply. This is undeniable. However, we must not mix up the question of value with that of price, which are two different things. Value is determined by the socially necessary labour expended in the product. While market price rarely corresponds to a commodity’s value, which always tends to fluctuate above or below this value.
As stated above, Freud theorized that the Ego is constantly under the strain of causing discontent on two sides (. the Id and Super-Ego). In saying that, Freud believed the Ego to be more “loyal” to the Id, in that, the Ego has a preference to water down the finer details of reality to minimize conflicts whilst simultaneously pretending to care about the said same reality. (This is where the role of the Super-Ego comes into play (see below)).
Prof, I was under the impression that the 5 comments required on your blog are due anytime before the end of the semester and as such did not comment on the first three modules. The syllabus also says rolling, and there is no indicator of timing. I noticed last week you mentioned that you did the first grading of comments which included 8775 absent 8776 . is there then a schedule for these comments? If so, what is the schedule for the rest of the term, and is there a way I can make up for my missing comment? I apologise for the inconvenience. Thank you.
We can forgive Cazenove’s indiscretion about labour being the sole source of wealth, which is false. In fact, there are forms of wealth which are supplied by nature alone, and which contains no labour whatsoever. This includes, for example, virgin forests and natural rivers. Marx explained this in Volume One of Capital. Nature and labour both play their part in the production of wealth. We should not, however, confuse wealth (which is composed of use-vaues) with value, which is completely different, as we shall see.
“And every child knows, too, that the amounts of products corresponding to the differing amounts of needs, demand differing and quantitatively determined amounts of society’s aggregate labour”, continued
The ability of an individual to retain certain messages in his mind while ignoring others is called selective retention. This is influenced by various psychological and physiological factors such as choice, values, culture, emotions etc.
Francis Wheen, in his book entitled Marx’s Das Kapital -- A Biography, believes he has hit upon a major contradiction in Marx, but simply reveals an ignorance of Marxist economics, a basic flaw with such writers.
In a conscious attempt to refute Marx, as we can see, the whole of economic theory has now been reduced to the notion of individual preferences and choices, and ceases to have any scientific value, apart from the most trivial of things. “In place of disinterested inquirers there stepped hired prize-fighters”, explained Marx, “in place of genuine scientific research, the bad conscience and evil intent of apologists.” 76 The capitalist economy was not treated by them as a global social system, but simply made up of millions of individual atomised relations between producers and consumers.
Play is an activity pursued for pleasure. The daily withdrawal of people into the mass media in their after hours is a matter of subjectivity. The effect of mass communication is not escapism nor seducing the masses. Rather it is seen as anti-anxiety producing, and are regarded as communication-pleasure.
Cognitive needs (acquiring information, knowledge and understanding)
Affective needs (emotional, pleasurable experience)
Personal integrative needs (strengthening self image)
Social integrative needs (strengthening self image)
Tension release needs (escape and diversion)
It was in The Wealth of Nations that Marx first came across the classical definition of value which he copied down word for word in his notebook: “It was not by gold or by silver, but by labour, that all the wealth of the world was originally purchased and its value, to those who possess it, is precisely equal to the quantity of labour which it can enable them to purchase or command.”
This theory puts forth the ability of the media to influence the significance of events in the public's mind. The media set the agenda for the audience's discussion and mentally order and organize their world. The theory is consistent with a "use and gratification" approach. McCombs and Shaw assert that the agenda-setting function of the media causes the correlation between the media and public ordering of priorities. The people most affected by the media agenda are those who have a high need for orientation