Reading Questions on Hunt re: Marx 1.a.What is the impact of focusing on exchange, not production? b.How does the market mask relationships among workers? 2. Distinguish between the exchange value and use value of a commodity. 3. Reproduce and explain the “circuits of (industrial) capital.” What is the source of surplus value in this circuit? 4.a. Distinguish labor from labor power. b. What determines the value of labor power? 5. Distinguish between constant and variable capital. 6. Define and give the formula for the rate of surplus value. 7.a. How does Marx determine the rate of profit? b. What is the organic composition of capital & why is it important? 8. What does the transformation problem tell us? 9. List and briefly explain the “laws of motion” of capitalism. 10. Explain the tendency of the rate of profit to fall; explain several countervailing tendencies. 11. Describe Marx’s theory of structural imbalances. How does this compare with Keynes’ AD-induced crises? 12. What does Marx mean by alienation? 13. How does Marx envision the end of capitalism? What will bring this about? &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& Reading Questions on Hunt re: Marx 1.a.What is the impact of focusing on exchange, not production? b.How does the market mask relationships among workers? 2. Distinguish between the exchange value and use value of a commodity. 3. Reproduce and explain the “circuits of (industrial) capital.” What is the source of surplus value in this circuit? 4.a. Distinguish labor from labor power. b. What determines the value of labor power? 5. Distinguish between constant and variable capital. 6. Define and give the formula for the rate of surplus value. 7.a. How does Marx determine the rate of profit? b. What is the organic composition of capital & why is it important? 8. What does the transformation problem tell us? 9. List and briefly explain the “laws of motion” of capitalism. 10. Explain the tendency of the rate of profit to fall; explain several countervailing tendencies. 11. Describe Marx’s theory of structural imbalances. How does this compare with Keynes’ AD-induced crises? 12. What does Marx mean by alienation? 13. How does Marx envision the end of capitalism? What will bring this about? &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& Reading Questions on Hunt re: Marx 1.a.What is the impact of focusing on exchange, not production? b.How does the market mask relationships among workers? 2. Distinguish between the exchange value and use value of a commodity. 3. Reproduce and explain the “circuits of (industrial) capital.” What is the source of surplus value in this circuit? 4.a. Distinguish labor from labor power. b. What determines the value of labor power? 5. Distinguish between constant and variable capital. 6. Define and give the formula for the rate of surplus value. 7.a. How does Marx determine the rate of profit? b. What is the organic composition of capital & why is it important? 8. What does the transformation problem tell us? 9. List and briefly explain the “laws of motion” of capitalism. 10. Explain the tendency of the rate of profit to fall; explain several countervailing tendencies. 11. Describe Marx’s theory of structural imbalances. How does this compare with Keynes’ AD-induced crises? 12. What does Marx mean by alienation? 13. How does Marx envision the end of capitalism? What will bring this about? &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& Reading Questions on Hunt re: Marx 1.a.What is the impact of focusing on exchange, not production? b.How does the market mask relationships among workers? 2. Distinguish between the exchange value and use value of a commodity. 3. Reproduce and explain the “circuits of (industrial) capital.” What is the source of surplus value in this circuit? 4.a. Distinguish labor from labor power. b. What determines the value of labor power? 5. Distinguish between constant and variable capital. 6. Define and give the formula for the rate of surplus value. 7.a. How does Marx determine the rate of profit? b. What is the organic composition of capital & why is it important? 8. What does the transformation problem tell us? 9. List and briefly explain the “laws of motion” of capitalism. 10. Explain the tendency of the rate of profit to fall; explain several countervailing tendencies. 11. Describe Marx’s theory of structural imbalances. How does this compare with Keynes’ AD-induced crises? 12. What does Marx mean by alienation? 13. How does Marx envision the end of capitalism? What will bring this about?
