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Podcast: Anti-Imperialist Network Podcast
Episode: Political Economy of Unequal Exchange #1: Cost-Price, Average Profit, and Price of Production Schema
Description: To begin this series on key concepts in the political economy of unequal exchange, we introduce the notion of price of production schemas, based on average profits and cost-prices. The concept of the "price of production" is a central element of the economic analysis outlined in Volume III of "Capital." The price of production represents the average cost of production for a commodity in a given industry, including not only the direct costs of labor and materials but also a portion of the total capital invested in fixed assets (machinery, buildings, etc.). It is distinct from market prices, which...