Monday 22 February 2010

Karl Marx's - Value, Price and Profit

We are going to be discussing Karl Marxs economic work 'Value, Price & Profit'. There should be tea, biscuits and possibly cake aswell.

Value price and profit was originally a speech delivered by Karl Marx at the First International on June 20 and 27, 1865. On April 4, 1865, John Weston, an influential member of the General Council and English trade union’ rep, proposed that the General Council should discuss the following questions:

Can everyone’s social and material prospects be improved by wage increases?
Do the efforts of the trade unions to secure increases have a harmful effect on other branches of industry?

Weston answered no to the first question and yes to the second, Marx had other ideas...

The piece can be found at Marxists.org and a reading guide at the same site