MODULE 2
In this module, we learn about how capitalists use their money to create more money through the circuit of capital.
We reflect on the ways that capitalism has been intertwined with racism and patriarchy from the beginning. By tracking how capital evolves throughout this cycle and understanding its historical underpinnings, we can then envision how we might challenge this process and reimagine our economy.
Learning Objectives:
- Explore the relationship between capitalists and workers through the circuit of capital
- Understand that capitalism has been intertwined with racism and patriarchy from its inception
- Identify four different types of capitalists
Materials
For Groups:
For Individuals:
VIDEO LESSONS:
Takeaways
- Capital is the exploitative relationship between the owners of the means of production and workers.
- It is also money trying to become more money as illustrated in the circuit of capital.
- Racist exploitation and colonialism have been foundational for capitalism. There are four different types of capitalists that make profits in distinct ways: industrial, commercial, financial and landlord capitalists.
Readings
Empire of Cotton: A Global History
Sven Beckert
The Racial Contract
Charles W. Mills
Black Marxism: The Making of the Black Radical Tradition
Cedric J. Robinson
Capitalism and Slavery
Eric Williams
How Europe Underdeveloped Africa
Walter Rodney
Understanding Capital: Marx’s Economic Theory
Duncan Foley
“Towards a Socialist Theory of Racism”
Cornell West
A People’s Guide to Capitalism
Hadas Thier
Videos
“Breathing Life into Democracy”
Nwamaka Agbo and Francisco Pérez. Economics for Emancipation Podcast, Episode 4
“To Become Ungovernable”
Elena Letona and Gopal Dayaneni. Economics for Emancipation Podcast, Episode 3
“There’s No Such Thing as the Economy”
Kali Akuno and Penn Loh. Economics for Emancipation Podcast, Episode 2
“On Black Resilience and Being Loved”
Jessica Norwood and Nia Evans. Economics for Emancipation Podcast, Episode 1
Reading Marx’s Capital Vol 1 Lecture Series
David Harvey
“What is Racial Capitalism and Why Does It Matter?”
Robin DG Kelley
“What is Capitalism?”
Center for Popular Economics (2021)
