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Circulation of Capital Commodities Money’Commodities’ Money ∞
Circulation of Capital C (LP/MP) PC' M M' ∞ M = Money C = Commodities LP = Labor Power MP= Means of Production P = Production M' = More Money C’ = More Commodities ∞ = Repeat Ad Infinitum
Circulation of Capital C (LP/MP) PC' M M' ∞ Industrial Capital P-C-M-C-P Finance Capital M-C-P-C-M Mercantile Capital C-M-C-P-C
Circulation of Struggles M' ∞ Enclosure Resistance Land Wars Eco-Struggles Anti-Privatization Workplace Struggles Strikes Sabotage Occupations Piracy, Boycotts, Collective Reappropriation
Circulation of Commons Commons Association’Commons’ Association ∞
Mr. Weiss Section 4 – Module 21– Effect on AD, SRAS and LRAS Curves 5. For each of the following, describe the effect on the AD, SRAS, and LRAS curves.
The Industrial Revolution was a switch from handmade goods in the home or small shops to machine made goods in factories. People left their farms.
The Industrial Revolution Industrial Revolution The greatly increased output of machine- made goods that began in Great Britain during the 18 th century.
Industrial RevolutionIndustrial Revolution ( ) Spurred by England’s Agricultural Revolution –^efficient farm methods Iron plows Seed Drill (Jethro.
Aim: What philosophies come from the Industrial Revolution?
Industrial Revolution Vocabulary
Managerial Economics: Economic Profit
The Rise of Industrial America American Economy became Huge and Powerful Why? 1. Natural Resources 2. Cheap Labor Supply 3. Capital (Money for.
How money changes hands!. In the Circular Flow Model there are 2 groups: Households (the people) Firms (companies and businesses)
Simple reproduction I As a periodic increment of the value of the capital, or a periodic fruit borne by capital-in-process, surplus-value acquires the.
Chapter 8 Resources Economics: The Case of Labour Economics.
Industrial Revolution: Causes and Effects
Transition from farming to factory posed new problems Disrupted family life Long working hours Unsafe working conditions Low pay High rent.
THE INDUSTRIAL REVOLUTION INTRODUCTION. BACKGROUND Early 1700s to late 1800s. Begins in Britain, moves across Europe and rest of the world.
The Three Fundamental Questions... How will the goods be produced? What will be produced? Who will get the goods and services? ECONOMICS AT WORK.
Industrial Revolution Period where the means of production of goods shifted: –from making things by hand to making things with machines –From use of.
CH. 27 : THE DEMAND FOR RESOURCES. I. Resource Pricing A. Here we analyze input costs to the business (ie. Cost of labor, machines) B. Ch determined.
U.S. changed from an agricultural (farming) economy to an industrial economy.
Capital, Chapter Three: Money, or the Circulation of Commodities.
Capital, Chapters 4 & 5 The General Formula of Capital.
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