A key concept in Marx’s critique of political economy is The Law of Value.  So what is The Law of Value?  Why is it critical to understand what it is and how to undermine it order to build a just society?  Ernesto ‘Che’ Guevara took on this gargantuan task (when the revolutionaries in Cuba took state power) of methodically trying to undermine The Law of Value with the goal of transitioning Cuba into a socialist, and ultimately a communist society; Che taking on this monumental task began to see flaws in the Soviet’s system and accurately predicted that they would return to capitalism if they didn’t drastically change their economic practices ( an excellent book on this topic is called Che Guevara:The Economics of Revolution by Helen Yaffe).   Above is Part 1 of a very informative series on The Law of Value, if you like it andwant to check out the entire series click here.

2 Comments to “The Law of Value!”

1. 

   angrykarl 31 March 2011 at 10:47 am #

   These videos make some complicated concepts easy to understand. Thanks for the link and the book recommendation.
2. 

   IKONOKLAST 31 March 2011 at 6:33 pm #

   I totally agree with you Angrykarl…sometimes when you are reading you are like “huh”…LOL But yeah the videos make the concepts attainable. Glad you liked the post. Take care.