III. Marx’s Analysis of Capitalism (cont.)
1. Reorganization of Class Relations
a) Free wage labour and capital
· Wage ‘contract’
b) Labour power
c) Surplus value and accumulation
d) Capitalist dynamism is not mystical
2. Production Geared for Market
a) Abstract market
b) Competition and extinction
3. Separation of ‘political’ and ‘economic’
a) Formal separation
IV. Capitalism, the state and democracy
1. State is not ‘neutral’
a) Conditions for capitalism
2. Political-economic divide is ideological
a) Economy is where political lies
b) Liberal politics of democracy are narrow