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Fictitious capital (German: fiktives Kapital) is a concept used by Karl Marx in his critique of political economy. It is introduced in chapter 25 of the third volume of Capital . [ 1 ] Fictitious capital contrasts with what Marx calls "real capital", which is capital actually invested in physical means of production and workers, and "money ...
Overaccumulation is one of the potential causes of the crisis of capital accumulation.In crisis theory, a crisis of capital occurs due to what Karl Marx refers to as the internal contradictions inherent in the capitalist system which result in the reconfiguration of production.
Capital: A Critique of Political Economy (German: Das Kapital.Kritik der politischen Ökonomie), also known as Capital and Das Kapital (German pronunciation: [das kapiˈtaːl]), is a foundational theoretical text in materialist philosophy and critique of political economy written by Karl Marx, published as three volumes in 1867, 1885, and 1894.
Balomenos, Christos [2024] Did Engels’ editing of Capital, Volume 3 distort Marx's analysis of the ‘tendency of the rate of profit to fall’? in Capital & Class 1–21 2024; Bell, Peter and Cleaver, Harry [1982] Marx's Theory of Crisis as a Theory of Class Struggle first published in 'Research in Political Economy', Vol 5(5): 189–261, 1982
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.
For Polanyi, the effort by classical and neoclassical economics to make society subject to the free market was a utopian project and, as Polanyi scholars Fred Block and Margaret Somers claim, "When these public goods and social necessities (what Polanyi calls "fictitious commodities") are treated as if they are commodities produced for sale on the market, rather than protected rights, our ...
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. Labour and capital are viewed as historically specific [clarification needed] forms of social relations. [1] [2] [3] [4]
In Marx's critique of political economy, capital accumulation is the operation whereby profits are reinvested into the economy, increasing the total quantity of capital. Capital was understood by Marx to be expanding value, that is, in other terms, as a sum of capital, usually expressed in money, that is transformed through human labor into a ...