ECON 2540 Karl Marx Critique of The Political Economy Discussion Paper


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ECON 2540 Political Economy I
Winter 2022
Assignment II
Instructor: Srishti Yadav
Final Submission Date: 11:59 PM on April 4, 2022
• If a question has two parts, each should be discussed in equivalent depth.
• Use the serial numbers given below when you enter your response in UMLearn.
Section I
Do you agree or disagree with the following statements? Explain why for each
statement in one-two sentences; 150 words total. The more precise your
explanation, the higher the points you will be awarded. (2 points × 5 = 10 points)
Wages in Capitalism are xed at subsistence level
Capitalism is equivalent to commodity production
Machines transfer a part of their value into the nished product
Capitalist pro ts emerge in the sphere of exchange
In Capitalism, it is not possible for workers’ wages and capitalists’ pro ts to rise at the
same time
Section II
Answer any one of the following in 150 words (10 points):
1. According to the Labor Theory of Value, what is the source of surplus value in
Capitalism? Explain in relation to the working day.
2. What is the Reserve Army of Labor? What is its role in the determination of the value
of labor power?
Section 3
Answer any one of the following in 250 words (15 points):
3. What are the two primary means to increase surplus value? Explain each with a
hypothetical numerical example; show how each would impact the rate of surplus
4. Describe the ways in which gendered divisions of labor contribute to capitalist
Howard R. Harmatz (H
Academic Honesty
Citation Practices
Aim is to initiate you into practices of academic writing
Rule of thumb: If you are saying something that you learnt from
someone else, you have to acknowledge it.
direct quote: quotation marks required if 5 or more words
paraphrasing text: less than 5 words replicated
conveying an argument in your own words
Citation style: APA
ttps:// of Response
What NOT to do
Answer in one big paragraph
– Repeat the same point in several sentences without adding to it
Exceed the word limit
Answer too generally, or without using the theoretical framework
(Political Economy/Surplus Approach) developed in the course
Purchase answer to see full




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