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Wednesday, June 2, 2021

Michael Roberts: Introduction to Marx's Labor Theory of Value

Richard Mellor

I attended three short sessions on an introduction to Marxian economics by Michael Roberts whose views we share regularly here at Facts For Working People. These introductions are crucial in helping workers like myself understand how the  the capitalist mode of production, the economic system in which we live, actually works. 

As in all subject, there are various levels of complexity and there are those that will become actual experts in a field. Michael Roberts is one of them. But it is not necessary for everyone to understand or spend their lives studying every aspect of a subject to grasp the general processes at work. However, once we grasp that, the road ahead becomes easier. 

The presentation above on Marx's law of Value is the first of the sessions, the law of accumulation second and the law of profitability will be last.  Michael Roberts' introductions are very clear and in a way that workers interested in the subject can understand and want to know more. 

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