Capitalism, profits and exploitation
Saturday 10:00 AM
There is an increasingly widespread acknowledgement, including among young people, that capitalism isn’t working out too well. But what exactly is capitalism? What defines it as a social system and what determines its ‘laws of motion’? In this foundations session, explore why the drive to maximise profits, competition between capitalists and worker exploitation are central to what makes capitalism tick.
Recommended Readings
- Death, destruction, destitution—and profits in Red Flag
- What’s so special about the working class? by D. Taylor and Ben Hillier in Red Flag
- The irrationality of capitalism by Tom Sullivan in Red Flag
- What is exploitation? by D. Taylor in Red Flag
- Competition: capitalism’s irrational engine by April Holcombe in Red Flag