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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.
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
A periodization of capitalism seeks to distinguish stages of development that help understanding of features of capitalism through time. The best-known periodizations that have been proposed distinguish these stages as:
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.
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 ...
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 ...
(2) The position of those who consider that compared to the Marx of Capital, the Marx of the Manuscripts sets out in a more "total" and "integral" way the problem of alienated labor, especially by giving an ethical, anthropological, and even philosophical dimension to the idea; these people either contrast the two Marxs or else "re-evaluate ...