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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 ...
Karl Marx borrowed the idea of capital accumulation or the concentration of capital from early socialist writers such as Charles Fourier, Louis Blanc, Victor Considerant, and Constantin Pecqueur. [7] In Marx's critique of political economy , capital accumulation is the operation whereby profits are reinvested into the economy, increasing the ...
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.
Karl Marx [a] (German: [kaʁl maʁks]; 5 May 1818 – 14 March 1883) was a German-born philosopher, political theorist, economist, journalist, and revolutionary socialist.He is best-known for the 1848 pamphlet The Communist Manifesto (written with Friedrich Engels), and his three-volume Das Kapital (1867–1894), a critique of classical political economy which employs his theory of historical ...
Marx himself obviously did not assert this at all, he only postulated the command over the surplus labour of others as the basis of the existence of capital and its economic power. Marx discusses the theoretical problem in two main places: the introduction to the Grundrisse manuscript and in chapter 51 of Das Kapital.
Marx's term is the German word "Mehrwert", which simply means value added (sales revenue minus the cost of materials used up), and is cognate to English "more worth". It is a major concept in Karl Marx's critique of political economy. Conventionally, value-added is equal to the sum of gross wage income and gross profit income.
Karl Marx, "The General Law of Capitalist Accumulation". Anwar Shaikh, "Organic Composition of Capital" Anwar Shaikh and Ahmet Tonak, Measuring the Wealth of Nations. Cambridge University Press. Angelo Reati, "The Rate of Profit and the Organic Composition of Capital in the Post-1945 Long Wave: The Case of British Industry from 1959 to 1981".
Karl Marx, Das Kapital, Vol. 1, chapter 26 Economic Manuscripts: Capital Vol. I - Chapter Twenty-Six I - Chapter Twenty-Six James Glassman (2006) Primitive accumulation, accumulation by dispossession, accumulation by ‘extra-economic’ means – Progress in Human Geography , Vol. 30, No. 5, 608–625 (2006) doi : 10.1177/0309132506070172