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The "capitalistic era" according to Marx dates from the 16th century, i.e. it began with merchant capitalism and relatively small urban workshops. [ 6 ] For the capitalist mode of production to emerge as a distinctive mode of production dominating the whole production process of society, many different social, economic, cultural, technical and ...
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 ...
From each according to his ability, to each according to his needs" (German: Jeder nach seinen Fähigkeiten, jedem nach seinen Bedürfnissen) is a slogan popularised by Karl Marx in his 1875 Critique of the Gotha Programme. [1] [2] The principle refers to free access to and distribution of goods, capital and services. [3]
According to Marx, capitalists take advantage of the difference between the labour market and the market for whatever commodity the capitalist can produce. Marx observed that in practically every successful industry, input unit-costs are lower than output unit-prices.
Capital is a central concept in Marxian critique of political economy, and in Marxian thought more generally.. Marxists view capital as a social relation reproduced by the continuous expenditure of wage labour.
[18]: 237 Karl Marx frequently referred to the "capital" and to the "capitalist mode of production" in Das Kapital (1867). [24] [25] Marx did not use the form capitalism but instead used capital, capitalist and capitalist mode of production, which appear frequently.
Marx maintained that central to the new capitalist system was the replacement of a system of money serving as the key to commodity exchange (C-M-C, commerce), by a system of money leading (via commodities) to the re-investment of money in further production (M-C-M’, capitalism) - the new and overriding social imperative. [45]
Capital. A Critique of Political Economy. Volume I: The Process of Production of Capital (German: Das Kapital.Kritik der politischen Ökonomie Erster Band. Buch I: Der Produktionsprocess des Kapitals) is the first of three treatises that make up Das Kapital, a critique of political economy by the German philosopher and economist Karl Marx.
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