Marx Part 2: Capitalism's Consequences | Philosophy Tube | Summary and Q&A

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March 11, 2016
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Marx Part 2: Capitalism's Consequences | Philosophy Tube

TL;DR

Capitalism's reliance on automation leads to the devaluation of labor, causing profits to fall and alienation among workers.

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Key Insights

  • 🥺 The devaluation of labor through automation leads to diminishing profits in the long run.
  • 🦺 Capitalism employs safety measures to prolong profitability, but these measures often exacerbate inequality and exploitation.
  • 🖤 Marx's critique of capitalism's lack of brakes and ability to adapt may have underestimated the system's resilience.
  • 🧑‍🏭 Alienation in capitalism refers to workers' detachment from the products they make, the act of laboring, other laborers, and their own species essence.
  • 💦 Marx believed that capitalism's flaws can only be rectified through a revolution by the working class.
  • ❓ Feudalism also had its problems, but Marx's focus was on addressing the alienation and exploitation stemming from capitalism.
  • 💦 Some jobs will always require human labor, even with automation, but the goal should be to reduce the necessity for meaningless and exploitative work.
  • ❓ Part 3 of the series will explore cultural Marxism and provide further insights into capitalism's effects on society.

Transcript

March is my month of marks in part one we learned about labor and class conflict in this part two we'll be looking at capitalism's consequences visa vie alienation as well as being a generally bad time for anybody who worked in a factory the other thing Victorian England was famous for was machines automation and this is going to become very import... Read More

Questions & Answers

Q: How does automation affect the value of labor under capitalism?

Automation in capitalism reduces the value of labor as machines store and distribute value quickly, resulting in products that contain less labor and are worth less.

Q: What safety measures does capitalism have against falling profits?

Capitalism uses various safety measures like price manipulation, outsourcing, monopolies, and price fixing to artificially inflate profits and counteract falling profits.

Q: Why did Marx believe that economic crises are inevitable under capitalism?

Marx believed that economic crises are inherent in the capitalist system because of its reliance on profit maximization and exploitation of labor.

Q: How did Marx view the potential of automation under capitalism?

Marx believed that automation should have liberated people from excessive labor, but under capitalism, it leads to alienation and wasted potential.

Summary & Key Takeaways

  • Automation in capitalism leads to a decrease in the value of labor, resulting in lower profits in the long run.

  • Capitalism has safety measures, such as price manipulation and outsourcing, to counteract falling profits.

  • Marx believed that capitalism is inherently flawed and will eventually collapse, requiring a revolution towards socialism.

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