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In Marxian economics and preceding theories, [1] the problem of primitive accumulation (also called previous accumulation, prior accumulation, or original accumulation) of capital concerns the origin of capital and therefore how class distinctions between possessors and non-possessors came to be.
Early capitalism (primitive accumulation) / colonialism / imperialism (Hobson, Lenin, Bukharin) Extensive stage / intensive stage / late capitalism ( Aglietta ) The Marxist periodization of capitalism into the stages: [ 1 ] agricultural capitalism, merchant capitalism , industrial capitalism and state capitalism .
A number of Marxian economists have argued that the inclosure acts in England, and similar legislation elsewhere, were an integral part of capitalist primitive accumulation and that specific legal frameworks of private land ownership have been integral to the development of capitalism. [4] [5]
Primitive socialist accumulation, sometimes referred to as the socialist accumulation, was a concept put forth in the early Soviet Union during the period of the New Economic Policy. It was developed as a counterpart to the process of the primitive accumulation of capital that took place during the early stages and development of capitalist ...
Capitalism is an economic system based on the private ownership of the means of production. This is generally taken to imply the moral permissibility of profit, free trade, capital accumulation, voluntary exchange, wage labor, etc.
Harvey states that accumulation "is the engine which powers growth under the capitalist mode of production. The capitalist system is therefore highly dynamic and inevitably expansionary". [ 21 ] The dynamism of capitalism is due to its persistent search for competitive advantage and consequently, its movement away from oversaturated economies ...
For Marx, the process of proletarianization was the other side of capital accumulation.The growth of capital meant the growth of the working class.The expansion of capitalist markets involved processes of primitive accumulation and privatization, which transferred more and more assets into capitalist private property, and concentrated wealth in fewer and fewer hands.
Other academics such as Susan Braedley, Med Luxton, and Robert W. McChesney, assert that neoliberalism is a political philosophy which seeks to "liberate" the processes of capital accumulation. [48] In contrast, Frances Fox Piven sees neoliberalism as essentially hyper-capitalism. [49]