In this episode of Marx in Minutes, we look at Chapter 8 of Capital (Chapter 6 in the Paul Reitter edition). We learn how old value stored in the means of production is transferred into new commodities. Marx explains the difference between constant and variable capital. We also consider why the ratio of constant capital to variable capital is important. -------- The Marxist Project is a proud member of Means TV. You can now support our channel by following this link and subscribing Means TV's excellent collection of anti-capitalist media: https://means.tv/orders/customer_info?o=70845&d=MARXISTPROJECT By using our code, MARXISTPROJECT, you will get a discount on the first month (or year!) of your subscription. -------- Narration, script, and editing by M. Animated intro by Jack, co-host of the Auxiliary Statements podcast @AuxStatements on Twitter. Intro music by Charles Tristan:https://soundcloud.com/charles-tristan ------- Patreon: https://www.patreon.com/themarxistproject Twitter: https://twitter.com/MarxistProject -------- References: For this video, refer to the latest (2024) Paul Reitter translation of Capital. -------- 00:00 - 00:26 Overview 00:27 - 00:40 Intro 00:41 - 01:16 Old Value and New Value 01:17 - 02:10 Value Transferred from Machines 02:11 - 03:05 Technological Advancements 03:06 - 03:20 Constant Capital 03:21 - 03:34 Variable Capital 03:35 - 04:34 Components of Capital 04:35 - 05:20 Support Means TV