85% of container ships that would’ve transited the Red Sea are now going around the southern tip of Africa as of this morning.
The ships diverting from their… | 42 comments on LinkedIn
Fascinating to me that this all happening as I am reading the first few chapters of volume 2 of Capital. It’s all about the circulation of commodities i.e. what commodities do after they are produced, and then how the money from the sale of those commodities goes back into production. A key point Marx is hitting on in chapters 5 and 6 is that the faster you can circulate commodities, the more surplus value in total is created. So conversely, a slowdown in circulation - like the transportation of commodities taking a whole lot longer to get from A to B - can be a massive reduction of surplus value. Maybe firms aren’t feeling the pain yet but they will soon. Should get interesting.
Fascinating to me that this all happening as I am reading the first few chapters of volume 2 of Capital. It’s all about the circulation of commodities i.e. what commodities do after they are produced, and then how the money from the sale of those commodities goes back into production. A key point Marx is hitting on in chapters 5 and 6 is that the faster you can circulate commodities, the more surplus value in total is created. So conversely, a slowdown in circulation - like the transportation of commodities taking a whole lot longer to get from A to B - can be a massive reduction of surplus value. Maybe firms aren’t feeling the pain yet but they will soon. Should get interesting.