[Marx and chill 2] Profit of Capital 💵🍵 Economic and Philosophic Manuscripts of 1844 Summary
Channel: MaylingStudio
Date: 14/01/2021

Part 2 of our MARX and CHILL adventure! Today I share the summary of Profit of Capital, the 2nd manuscript of Karl Marx's Economic and Philosophic Manuscripts of 1844. 

Not gonna lie, there's some juicy insight in this piece. First of all we explore the relationship between money and someone's labor. We then discuss the power of capitalists. What is it? What does it bring to society? How does it function? And by the end of Profit of Capital, the 2nd manuscript of Karl Marx's Economic and Philosophic Manuscripts of 1844 we discuss how capitalists interact with one another, through the weight of their power.

In Wages of Labor we discussed how humans are reduced to machinery through things like the division of labor. In Profit of Capital, we examine the nature of investing money into business, and the market in which they exist. We look at strategies capitalist use to raise their profits, as well as the market's inevitable pitfalls. And of course, the consequences that the working class has to ensure through it all.

In Profit of Capital Marx concludes that the capitalist market and it's nature of free competition is unsustainable..  even for the rich! Furthermore, Marx points out that capitalism's inherent characteristics result in the accumulation of wealth in the hands of the few. It's own processes detrimental to the working class and society as a whole. 


Marx and chill playlist: https://youtube.com/playlist?list=PLyJlOW6AjvyfPyPTahC0OU3lFmwIJgrUN

PDF of the text: https://www.marxists.org/archive/marx/works/1844/manuscripts/preface.htm

**Buy Marx' Economic and Philosophic Manuscripts of 1844 -  https://bookshop.org/a/82436/9780486455617

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00:00 Intro 
00:19 Beginning of summary
01:46 The profit of capital
05:19 Accumulation of capital
08:45 Circulating vs fixed capital
10:10 Various other writers' observations
11:39 Capitalits' competition
15:15 My final thoughts

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