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Wage Labour and Capital" (German: Lohnarbeit und Kapital) was an 1847 lecture by the critic of political economy and philosopher Karl Marx, first published as articles in the Neue Rheinische Zeitung in April 1849. [1] It is widely considered the precursor to Marx's influential treatise Das Kapital. [2]
For Marxists, labour-as-commodity, which is how they regard wage labour, [10] provides a fundamental point of attack against capitalism. [11] "It can be persuasively argued," noted one concerned philosopher, "that the conception of the worker's labour as a commodity confirms Marx's stigmatisation of the wage system of private capitalism as ...
Abraham Lincoln in 1863. Address of the International Working Men's Association to Abraham Lincoln, President of the United States of America is a letter written by Karl Marx between November 22 to 29, 1864 that was addressed to then-United States President Abraham Lincoln by United States Ambassador Charles Francis Adams Sr. [1] The letter was written on behalf of the International Workingmen ...
Marx concludes that as value is determined by labour, and as profit is the appropriated surplus value remaining after paying wages, that the maximum profit is set by the minimum wage necessary to sustain labour, but is in turn adjusted by the overall productive powers of labour using given tools and machines, the length of the workday, the ...
Marx argued that, instead, the tendency of the rate of profit to fall is "an expression peculiar to the capitalist mode of production of the progressive development of the social productivity of labor". [38] Marx never denied that profits could contingently fall for all kinds of reasons, [38] but he thought there was also a structural reason ...
Marx argued that capital existed incipiently on a small scale for centuries in the form of merchant, renting and lending activities and occasionally also as small-scale industry with some wage labour (Marx was also well aware that wage labour existed for centuries on a modest scale before the advent of capitalist industry).
Marx/Engels Collected Works (also known as MECW) is the largest existing collection of English translations of works by Karl Marx and Friedrich Engels. Its 50 volumes contain publications by Marx and Engels released during their lifetimes, many unpublished manuscripts of Marx's economic writings, and extensive personal correspondence.
In Das Kapital (1867), Marx proposes that the motivating force of capitalism is in the exploitation of labor, whose unpaid work is the ultimate source of surplus value.The owner of the means of production is able to claim the right to this surplus value because they are legally protected by the ruling regime through property rights and the legally established distribution of shares which are ...