In the third episode of Marxian Political Economy lecture series, Prof. Venkatesh Athreya introduces the circuits of capital and the general production process under capitalism. As Marx notes, it is at the “abode of production” that bourgeois democratic ideals breaks down. This is explained in relation to surplus value that is fundamentally produced by the working class which is appropriated by the capitalist class that owns the means of production. The episode explains what constitutes surplus value and how converting labour power to a commodity alienates the worker from the process of labour as well as the product of labour.

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