Capitalism at the Nada School Saturday Lecture

Capitalism at the Nada School Saturday Lecture

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60The story has changed dramatically and we are talking about capitalism

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61The Industrial Revolution made it more productive to make yarn by machine than by hand. Until then, yarn was spun by hand, but machines were invented to spin yarn, and it became more productive to use them. Technological progress has brought about a major change in social conditions.

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62Money (capital) is needed to have machinesIt was impossible for all working people to buy machines, so those with money bought machines! A situation arose where capitalists could earn capital by lending machines and the rich could earn money by buying machines, lending them to workers, and taking a share of the increased productivity.

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Karl Marx (1867) "The Theory of Capital," 63From this point on, it is a fact, but from here on, it is an interpretation.

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64Capitalism hasn't collapsed yet, though, has it? Rather, the U.S. and the Soviet Union... wait, the Soviet Union was not yet born when it collapsed.

Well, to put it bluntly, there have been cases in the past where countries that were created on the basis of "capitalism must not work" ended up not working out and were flopped. It is an observable fact that capitalism has not yet collapsed. Why is this? Marx's assertion earlier seemed to be right at first glance...Q: Why is this?

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65 Still capitalism has not collapsed, though, has it? (audience: interpretation of "may happen in the future".

The interpretation is "due to the existence of laws that redistribute wealth so that it is not too concentrated in the hands of capitalists.") I think that interpretation is also possible. Unlike science, we cannot do an "experiment to see if removing the law will cause a revolution" or something like that, so it is difficult to determine the cause, and we can only interpret it.

Other interpretations are: Q: Why is this?

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Knowledge is also capital Peter F. Drucker (1993), "Post-Capitalist Society," 66.

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67 ! Knowledge capital is not capitalist.

The concentration of capital in the capitalist is hindered by this that accumulates among the workers. It is also hindered by the redistribution of capital by law, but also by the fact that knowledge is capital. Knowledge (capital) is necessary to operate machines, not only machines.

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68 ! Knowledge capital is not capitalist.

Accumulation in the workforce, for example, experienced workers are paid more than new graduates. But new graduates have more physical strength. Why are new graduates paid less? It is the difference in knowledge. Knowledge is valued more highly than labor power.

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69 once a machine for earning money.

Just as money was invested, now it is in the knowledge to earn.

Money is being invested. Of course, there is still investment being made in machines. It's just that the weight of investment in knowledge is getting bigger. Let's think specifically about writing a program on a computer. If you buy a computer and give it to someone with no experience at all, can they start working with it tomorrow? Investment in education is necessary.

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70You are all going to invest in the future. Most of the people here will go on to college. The cost of going to college is: 4 years at a national university 2,400,000 entrance fees and tuition: 7,600,000*Total: 10,000,000You will invest roughly 10 million in your college education in the future. Please google later to find out how much it costs to attend Nada. You or your parents are making an ongoing investment in knowledge. Homework:Calculate the cost of attending Nada*Average starting salary for a high school graduate is 160,000 (cid:186), estimated at 48 months.

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71 What do you want to get out of paying 10 million? What knowledge am I investing in? What knowledge am I investing in?

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72 If we simply think of it by analogy with production machinery, we'd be investing in knowledge to improve productivity and make money more efficiently,

Knowledge to make money efficiently?

Knowledge to gain knowledge efficiently?

If "knowledge is also capital," then there is no need to earn money.

As long as you have the minimum amount of money you need to survive, wouldn't the rest be better off invested in knowledge for knowledge's sake?

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