Problems of Value Production (1) By S. Artesian

5 December 2018 — The Wolf Report: Nonconfidential analysis for the anti-investor

The intensity of production

Competition, according to an American economist, determines how many days of simple labor are contained in one day’s compound labor. Does not this reduction of days of compound labor to days of simple labor suppose that simple labor is itself taken as a measure of value? If the mere quantity of labor functions as a measure of value regardless of quality, it presupposes that simple labor has become the pivot of industry. It presupposes that labor has been equalized by the subordination of man to the machine or by the extreme division of labor; that men are effaced by their labor; that the pendulum of the clock has become as accurate a measure of the relative activity of two workers as it is of the speed of two locomotives. Therefore, we should not say that one man’s hour is worth another man’s hour, but rather that one man during an hour is worth just as much as another man during an hour. Time is everything, man is nothing; he is, at the most, time’s carcase. 

Quality no longer matters. Quantity alone decides everything; hour for hour, day for day;  

Marx – The Poverty of Philosophy

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Video: The 1% and Piketty

30 April 2014— The Real News Network

Welcome to The Real News Network. I’m Jessica Desvarieux in Baltimore. And welcome to this edition of The Hudson Report. Now joining us is Michael Hudson. Michael is a distinguished research professor of economics at the University of Missouri-Kansas City. His two newest books are The Bubble and Beyond and Finance Capitalism and Its Discontents. Continue reading

People’s Inquiry – a grassroots vision for our NHS? By John Lister

14 October 2013 — Our NHS

As the NHS groans under cuts and chaotic reorganisation, government bodies are calling for yet more ‘radical change‘ and ‘difficult decisions’. Will their answers be hospital closures and privatisations? The new People’s Inquiry is calling for evidence to support a different way forward. 

Contested Reproduction and the Contradictions of Socialism By Michael A. Lebowitz

13 September 2013 — The Bullet • Socialist Project E-Bulletin No. 877

Some Explanations About the Fall of ‘Real Socialism’

Why did ‘real socialism’ and, in particular the Soviet Union, fall? Let me note a few explanations that have been offered. With respect to the Soviet Union, one very interesting explanation that has been suggested is that it’s all the fault of Mikhail Gorbachev. And not simply the errors of Gorbachev but the treachery. Those who offer this explanation rely in particular upon a document which is sometimes described as his confession. This document begins as follows:

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Video: The Impact of Robots: Abundance and the Need for Radical Structural Reform

1 September 2013 — Solidarity Economy

Marx anticipated the problem as capitalism’s systemic crisis, the growth in the ‘organic composition of capital’ (machines) in an inverse relation to ‘living labor’ (jobs). The way out, in the shorter run, is a social wage combined with shorter hours, and in the longer run, socialism on the path to a classless society. McAfee here sees the problem, if not the full solution. – Carl Davidson

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