Lecture Description
Today, Professor Shapiro continues his discussion of Enlightenment theory of Karl Marx, focusing on the foundations of his theory of capitalism. The central question is, how is wealth created under capitalism at the micro level? For Marx, Adam Smith's invisible hand is not entirely benevolent. His labor theory of value stipulates that living human labor-power is the only way to create new value, and therefore capitalists who shift toward capital-intensive production cannot actually create new value. Marx also assumes wages are at the level of subsistence, and that capitalists turn a profit by exploiting the surplus labor time of workers. Professor Shapiro also explores some corollary concepts to Marx's mode of production: the class-for-itself/class-in-itself distinction, socially necessary labor time and surplus labor time, and the extent to which workers are other-referential.
Reading assignment:
Tucker, The Marx-Engels Reader, Capital, Vol. I, pp. 294-344
Useful summaries of the analytical logic of Capital:
Mandel's introduction to the Viking/Pelican edition of Capital, vol. I [optional]
Jalee, How Capitalism Works [optional]
Course Index
- Information and Housekeeping
- Introductory Lecture
- Natural Law Roots of the Social Contract Tradition
- Origins of Classical Utilitarianism
- Classical Utilitarianism and Distributive Justice
- From Classical to Neoclassical Utilitarianism
- The Neoclassical Synthesis of Rights and Utility
- Limits of the Neoclassical Synthesis
- The Marxian Challenge
- Marx's Theory of Capitalism
- Marxian Exploitation and Distributive Justice
- The Marxian Failure and Legacy
- Appropriating Locke Today
- Rights as Side Constraints and the Minimal State
- Compensation versus Redistribution
- The Rawlsian Social Contract
- Distributive Justice and the Welfare State
- The "Political-not-Metaphysical" Legacy
- The Burkean Outlook
- Contemporary Communitarianism (I)
- Contemporary Communitarianism (II)
- Democracy and Majority Rule (I)
- Democracy and Majority Rule (II)
- Democratic Justice: Theory
- Democratic Justice: Applications
Course Description
This course explores main answers to the question, "When do governments deserve our allegiance?" It starts with a survey of major political theories of the Enlightenment—Utilitarianism, Marxism, and the social contract tradition—through classical formulations, historical context, and contemporary debates relating to politics today. It then turns to the rejection of Enlightenment political thinking. Lastly, it deals with the nature of, and justifications for, democratic politics, and their relations to Enlightenment and Anti-Enlightenment political thinking. Practical implications of these arguments are covered through discussion of a variety of concrete problems.
Course Structure:
This Yale College course, taught on campus twice per week for 50 minutes, was recorded for Open Yale Courses in Spring 2010.