Table of Contents1. Marxism 11.26

Marxism ___11.26

• Why are the hardest working people sometimes the poorest?

• Why do the rich get richer while the poor get poorer? Why is society so unequal?

Think About This…

• Nabisco factory worker $10 / hour• In an average 8-hour work day, the worker

makes $200 worth of Oreo cookies.• Value of worker’s labor: $200• Value he is compensated (paid): $80• Surplus labor value (profit): $120

• It costs the Nabisco factory worker $80 to pay for his family’s food, gas, housing, utilities each day.

• $80 = subsistence (survival) level.• The worker can saves $0 each day because

Nabisco pays him subsistence level wages.

Karl Marx

• 19th century German philosopher/economist• Published in 1848 The Communist Manifesto.• Kicked out of Germany for his radical ideas.

Marxism

• Two types of people: capitalists aka bourgeoise (10%) and workers aka proletariat (90%)

• Ws produce labor value ($200 of cookies each day by working)

• Cs produce nothing- exploit the surplus labor value ($120) of workers to survive.

Why do the workers have to go along with this system?• Cs pay Ws subsistence level wages to keep Ws

down. • Cs control the means of production.

Means of Production

• The things needed to make commodities/ products Ex: MoP for an apple:farm landSeedswaterfarm machines / pesticide

Ex: NBA game:Jerseysstadiumbasketballbroadcasting equipment

Classwork• There are FIVE small sections of reading in the packet. Find a

partner and divide up the reading/questions. Write the answers in your notebook.

• Do not just write the answer! You won’t understand it later on when you use your notes to review. Ex:

1. When the capitalist takes more money beyond what is needed.1. Surplus value: When the capitalist takes more money beyond what is needed.• Make sure you write the date (11.26) in your notebook and

underline/highlight key terms. • Do not copy from your classmates- have them explain/read

their answers to you.

Homework (Due Tuesday 11.27)

• Finish the reading and answer ALL questions in your notebook ready to be checked off tomorrow.

• Have your video notes complete and ready to be checked off tomorrow.

Ways points will be taken off

1. Only wrote the answers down…

-3 points

2. Late -5 points3. Only partially done Depends on how much is

complete/quality of answers