1) Vol.II - Last Session before hols: 'Theories of Fixed and Circulating Capital - Smith and the Physiocrats'
Unfortunately we did not record the discussion from our last meeting on 'Turnover and Time & Fixed and Circulating Capital'.
Our next session will be discussing Vol.II chapters 9-10 on 'Theories of Fixed and Circulating Capital - Smith and the Physiocrats':
Monday 20th December
King's College London
"By thus establishing the definition of circulating capital as being the determinant of the capital value laid out for labour-power — this physiocratic definition without the premise of the physiocrats — Adam Smith fortunately killed among his followers the understanding that that part of capital which is spent on labour-power is variable capital. The more profound and correct ideas developed by him elsewhere did not prevail, but this blunder of his did."
The first Vol.II reading group after the hols will be Mon 17th Jan 6pm, Room tbc.
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2) Vol.I - Returning after hols: 'Exchange and Money, or the Circulation of Commodities'
The Volume I reading group will return after the holidays on Wed 12th Jan 6:30pm, Room tbc, with a discussion on 'Exchange and Money, or the Circulation of Commodities':
"All commodities are non-use-values for their owners, and use-values for their non-owners. Consequently, they must all change hands. But this change of hands is what constitutes their exchange, and the latter puts them in relation with each other as values, and realises them as values. Hence commodities must be realised as values before they can be realised as use-values."
We will be reading Vol.I chapters 2-3. The discussion from the previous session on 'The Fetishism of Commodities' is available to download here:
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