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AN !NTKODUCTlON TO KAKL MAKX'5 A1A
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FKEFACE
want8 tO mndamcntmy Undct8tand CaQItaI8m. OwcVct COmmOn nOt
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Ol CaQItmt8m andt8 In many way8 mOtc COntcmQOtaty than many Othc
QOmQOU8y QaCKa_cdwOtK8wtIttcnInthcQtc8cnt.
1l wc bc_In tO tcad 0aita/, wc cnCOUntct CcttaIn dImCUtIc8.
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8tand. hc thtcc bOOK8 mctc _Itth I8 a8O IKcy tO aCt a8 a dctcttcnt.
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y U8tn_thctctm"CtItIgUcOlQOItICacCOnOmy%aO8U__c8t8thathct8
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I 0 A N lNTKODUCTON T O KAKL MAKX'5 AI1A
ICa!!yDy8ChOO!8 andmcdIalhIOu_h COnVcI8alIOn8 mdCOnICt8haVc tO
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hand Wc dI8Cu88 thc IO!c OlmaIxI8m In thc WOII8 mOVcmcnt. hc
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ChaQlcI8 7tOJlhc COntcnlOllhc lhIIdVO!umc.
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lhat WOu!d QIOCccd a8 8y8lcmatICa!!y a8 hI8 ana!y8I8 Olthc cCOnOmy. n
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lOImaOandWhatlhcydOnOl.
aIlICu!aI!y OVcI thc !a8t lcW dcCadc8 many Olthc IcduCtIOnI8m8 Ol
lIadIlIOna!"WOtdVIcWmaOI8m[e/tanschauungsmaismus)[OnlhI8
lcIm8ccChaQlcI .|haVcDccn8uD_cCtlOCtItIguc.hI8CIItIgucha8Icad
maOnOtOn!y a8lhctIadIlIOna!QcI8QcCtIVc dIda8 thc DcltcIcCOnOmI8l
DulQIImatI!ya8aCIIlICOla8OCIa!8ttuCluIc thalI8mcdIalcdDyVa!ucand
thu8 "lctI8hIZcd.hI8 "ncWIcadIn_OlmaO8 WOIkOn thc CIItIguc Ol
QO!IlICa!cCOnOmy lOIm8 lhc Da8I8 Olthc QIc8cnlInttoduction.my QIc-
8cntatIOn lhu8 DuI!d8 On a QaIlICu!aI InlcIQIclatIOn Ol maO8 thcOIy
WhI!c OlhcI8 aIc dI8mI88cd.OWcVcI lO IcmaInWIlhIn lhc 8COQc OllhI8
Inttoduction,hadlO!aI_c!yIchaInlIOmcn_a_In_WIlhOlhcIInlctQIcla-
tIOn8. cxQ!aInmy undcI8tandIn_Ollhc CIIlIguc OlQO!IlIC8! cCOnOmy In
PKElACE I I
moredetai|inHeinrich(I999 )e Adiscussiono|there|evant|iteraturecan
be|oundinHeinrich(999a).
Chapter J engages with!ac's theory o| vmue. ! suggest that this
chapterbereadparticu|ar|yc|ose|y,inc|udingbythosewhoa|readybe-
heve they understand the theory and on|y want to in|om themse|ves
abouttopicsmatbui|duponitsuchascreditandcrisis.Thischapteris
noton|ythebasis|oreverymingthat|o||ows,theabove-mentionednew
reading"o| !ac'sworkisa|soparticu|ar|yapparenthere.
!ncomp|etingtheCeman]texto|thisInttoduction,!havereceived
muchsupport.Forthesometimesmu|tip|ecritica|readingso|individua|
ptso|themanuscript,|orintensivediscussionsandimportantsugges-
nons,myparticu|argratitudegoesoutto !arcusBrskamp,AexCa||as,
]anHoB,!artinKzdzinski,nesLangemeyer,HenrikLebuhn,Koa
Lindner, Urs Lindner, Arno Netzbandt, Bodo Niend|, Sabine Nuss,
A|exisFetrio|i,Thomas Sab|owski,Dorothea Schmidt, Anne Stecer,
andngoSttz|e.
FortheEng|ishtrans|ationImustgive|argethankstoA|exLocascio,
whodid his work with enormousenthusiasm and engagement. A|so!
havetothankimKincaidandChrisWright|orreadingandcommenting
onahrstdra|to|thetrans|ationand]ohnC|egg|orhissuport.Specia|
thanksto!ichae|Yateso|!onth|yReviewFresswhoreadandcorrect-
edverycarem|ythewho|emanuscriptverycarem|y.
TRAN5IATOR'8 NOTE
Eng|ishcitationso|0aita/havebeentakenhom the FenguinC|assics
editiono|0aita/, volumei trans|atedbyBenFowkes( I99O),andvo|-
umes 2 andJ trans|ated by David Fernbach( I992 and1991,respec-
tive|y). Omer Eng|ish |anguage citations have been taken hom Ma-
Enge/ 0o//ected otk (!ECW),themostcomp|eteeditioninEngish.
!n some quotations the Eng|ish trans|ations had to be corrected, but
ts is a|ways indicated. Some quotes are taken hom!ac Enge|s
Cesamtausgabe(!ECA),thecompleteeditiono|a||workso|!arxand
Enge|s.Thesearetrans|atedbyA|exLocascio.
. LQiti8m nU NIi8m
1.1 atIs 0aita/ism
Contemporarysocietiesaretraversedby a variety ore|ationsodom-
inationand oppression that are expressedin variousorms. We hnd
asymmetrica|genderre|ations,racistdiscrimination,enorousdiBer-
encesopropertyownershipwithcorrespondingdiBerencesinsocia|
inBuence,anti-Semiticstereotypes,anddiscriminationagainstcertain
typeso sexua|orientation. Therehasbeenmuchdebateconcening
theconnectionbetweenthesere|ationsodomination,andparticu|ar|y
conceingthequestionastowhetheroneothemismoremndamen-
ta|thantheothers.Ire|ationsodominationandexp|oitationrooted
intheeconomyarep|acedintheoregroundintheo||owingaccount,
thenitisnotbecausetheyaretheon|yre|evantre|ationsodomination.
However,onecannotsimu|taneous|yaddressa||suchre|ationsodom-
ination.!ac`s critique o po|itica| economy is primari|y concerned
with theeconomicstructureso capita|istsociety,andorthatreason
they arep|acedatthecenterothepresentwork.Butone shou|dnot
succumbtothei||usionthatwithanana|ysisothemndamenta|sothe
caita/istmodeo]toductionthateverythingdecisivehasa|readybeen
saidaboutcaita/istsocieties.
I& AN NTKODUCT!ON TO KAKL MAKX'5 AI1A
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ctIc8that8tcKnOwntOu8atc `Ca888OCIctIc8. `LXQOItatOnOny mcan8
In thc ht8t In8tanCc that thc dOmInatcd Ca88 nOt Omy QtOduCc8 It8 Own
8ub8I8tcnCc but m8O that Ol thc tuIn_ Ca88. hc8c Ca88c8 haVc man-
lc8tcdthcm8cVc8IndIhctcntway8thtOu_hOuthI8tOty:8aVc8cXI8tcdOQ-
QO8Itc8aVcOwnct8InanCIcntLtccCc8ctl8cXI8tcdOQQO8ItcandOtd8In
thc %Iddc P_c8 andInCaQItaI8mthcbOut_cOI8Icthc QtOQcttIcdCa88
cXI8t8 OQQO8Itc thc QtOctatIat wa_c-dcQcndcnt abOtct8. Yhat I8 dc-
C8IVc I8 houCa88 dOmInatIOn and cXQOItatIOn mnCtOn In a QattICuat
8OCIcty. d In thI8 CaQItaI8m dI8tIn_uI8hc8 It8cl mndamcnt8 y hOm
QtcCaQItaI8t8OCctIc8IntwOtc8QcCt8:
1. 1n QtcCaQItmI8t 8OCIctIc8 cXQOItatIOn tc8tcd uQOn a te/ationhi o]
etsona/dominationanddqendenc thc 8aVc wa8 thc QtOQctty Ol
hI8 Ownct thc 8ctl wa8 bOund tO hI8 tc8QcCtVc Otd. hc Otd had
dItcCt authOtIty OVct hI8 8cCant. Ln thc ba8I8 Ol thI8 authOtty thc
`OtdaQQtOQtIatcd a QOttIOn Ol thcQtOduCtthat thc`8cCntQtO-
duCcd.\ndctCaQItM8ttcatIOn8wa_c8bOtct8 cntct IntO aCOnttaCt
wItha CaQIt8I8t.Ya_cabOtct8 atc]otma/(ee[thctc I8nO cXtcHa
lOtCcthatCOmQc8thcmtO8I_naCOnttaCtandCOnttaCt8OnCc8I_ncd
CAF!TAL!5M AND MAKX!5M I5
canbeannu||ed|ater)andare]oa/(equa/tocapita|ists( thereare
actua|advantagestotheownershipo|a|argeestate,butthereareno
ierited" |ega| priveges such as exist in a society characterized
bytheexistenceo|anobi|iq). Aetsona/re|ationshipo||orcedoes
notexistat|eastnot asaru|einthe deve|oped capita|ist societies.
There|ore,|ormanytheoristso|society,|outgeoissocieg,withitshee
andequa|citizens,appearstobethe opposite o| the |euda|society
o|the!idd|eAgeswithitscasteprivi|egesandpersona|re|ationso|
dependency.Andmanyeconomistscontestthenononthatsomething
|ike exp|oitation even exists incapita|ism and, at |east in Ceany,
pre|ertospeako|amarketeconomy."Thus itis a||egedthat vari
ous|actorso|production"(|abor,capita|,and|and)acttogetherand
receive a corresponding share o| income ( wage,proht,and ground
rent).Thequestiono| howdominationandexp|oitationincapita|ism
are rea|ized precise|y | means o]the |orma|heedom and equa|ity
betweenpartnersinexchange"wbediscussed|ateron.
2. !n precapita|ist societies, the exp|oitation o| the dominated c|ass
seredprimari|ymeconsumptiono|theru|ingc|ass:itsmembers|ed
a|uxurious|i|e,usedappropriatedwea|th|ortheirownedihcationor
|orthato|thepub|ic( theaterper|ormancesinancientCreece,games
inancientRome)ortowagewar.Froductionditect(seredthe /-
mento]uantsthem||mento|the( |orcib|y)restctedneedso|the
dominatedHassandtheextensive|uxuryandwarneedso|meru|ing
c|ass. On|y in exceptiona|cases was the wea|thexpropriatedby the
ru|ingc|assusedtoen|argethebasiso|exp|oitation,suchaswhencon-
sumpnonwassetasidetopurchasemores|aves,toproduceagreater
amounto|wea|th.But undercapitmistre|ations,production|or the
sakeo| increasing thecapacity to produceistic y the case.The
gainso|acapita|istenteqrisedonotsereinthehrstinstancetomae
a com|ortab|e |i|e |or the capita|ist possib|e,but are rather invested
anew,inordertogeneratemoregainsinthemture.Notthesatis|ac-
tiono|wants,buttheca/otationo]caita/istheimmediategoa|o|
production;theento|wantsandthere|oreacom|ortab|e|i|e|or
thecapita|istismere|yabyproducto|tisprocess,butnotitsgoa|.!|
I 0 AN !NTKODUCTlON TO KAKL MAKX'5 AI1A
thC _8tn8 8tC 8t_C CnOu_h mCn 8 8m8 QOtuOn t8 8umCtCnt tO b::8nCC
mC uXuttOu8 CXt8tCnCC Ol thC C8Qtt8t8t, 8nd thC _tC8tCt QOtttOn C8n bC
u8Cd lOt thC 8CCumu8ttOn [cn8@CmCnt| Ol C8Qtt8.
hC l8Ct th8t C8On_8 dO nOt QtIm8tty 8CCC thC COn8umQttOn Ol thC
C8Qtt8t8t but t8thCt thC COnttnuOu8 V8OttZ8ttOn Ol C8Qtt8 th8t t8 thC
tC8tC88 mOVCmCnt Ol mOtC-8nd-mOtC 8CCumu8ttOn m_ht 8Ound M-
8utd. ut thC t88uC 8t h8nd t8 nOt 8n tndtVtdu8 8Ct Ol tn88ntty. ndtVtdu8
C8Qtt8b8t8 8tC ]otcedtntO tht8 mOVCmCnt Ol tC8tC88 QtObtCCttn_ [COn8t8nt
8CCumu8ttOn, CXQ8n8tOn Ol QtOduCtIOn thC tnttOduCttOn Ol nCw tCCh-
nOO_y CtC.| by COmQCttttOn wtth OthCt C8Qtt8t8t8: tl 8CCumu8ttOn t8 nOt
C8tttCd On tl thC 8QQ8t8tu8 Ol QtOduCttOn t8 nOt COn8t8nty mOdCtntZCd
thCn OnC8 Own CntCtQtt8C t8 l8CCd wtth thC thtC8t Ol bCtn_ 8tC8mtOBCd
by COmQCtttOt8 whO QtOduCC mOtC ChC8Qy Ot whO m8nul8CtutC bCttCt
QtOduCt8. C8Qtt8t8t whO 8ttCmQt8 tO wtthdt8w hOm mt8 QtOCC88 Ol COn-
8t8nt 8CCumu8tIOn 8nd tnnOV8tIOn t8 thtC8tCnCd wtth b8nKtuQtCy. C t8
thCtClOtC lOtCCd tO Q8tttCtQ8tC whCthCt Ot nOt hC w8nt8 tO. n C8Qtt8t8m
"CXCC88tVC QtOht-8CCktn_ t8 nOt 8 mOt8 l8IutC On thC Q8tt Ol tndtVIdu88,
but t8thCt 8 nCCC88tty lOt 8utVtVIn_ 88 8 C8Qtt8t8t. 8 wbC 8hOwn mOtC
CC8ty tn thC lOOwtn_ Ch8QtCt8 C8Qtt8t8m tC8t8 uQOn 8 sstemic tC8-
ttOn8htQ Ol dOmtn8ttOn th8t QtOduCC8 COn8tt8tnt8 tO whtCh bOth wOtKCt8
8nd C8Qtt8t8t8 8tC 8ubOtdtn8tCd. Ot th8t tC88On 8 CttttguC th8t t8KC8 8tm
8t thC "CXCC88tVC QtOht-8CCktn_ Ol tndtVtdu8 C8Qtt8t8t8 but nOt 8t thC
C8QttMt8t 8y8tCm 88 8 whOC t8 tOO n8ttOw.
y caita/wC undCt8t8nd [QtOVt8tOn8y wC _Ct mOtC QtCCI8C 8tCt|
8 Q8tttCu8t 8um Ol V8uC thC _O8 Ol whtCh t8 tO bC "V8OttZCd whtCh t8
tO 88y _CnCt8tC 8 8utQu8. ht8 8utQu8 C8n bC Obt8tnCd tn V8ttOu8 w8y8.
n thC C88C Ol IntCtC8t-bC8ttn_ C8Qtt8, mOnCy t8 Cnt 8t tntCtC8t. hC tntCt-
C8t thu8 COn8ututC8 mC 8utQu8. n thC C88C Ol metchantcaita/,QtOduCt8
8tC QutCh88Cd ChC8Qy tn OnC Q8CC 8nd 8Od dC8ty tn 8nOthCt Q8CC [Ot 8t
8nOtbCt QOtnt tn umC|. hC dthCtCnCC bCwCCn thC QutCh88C QttCC 8nd thC
88C QttCC [mtnu8 thC tCCV8nt tt8n88CuOn CO8t8| COn8tttutC8 thC 8utQu8. n
thC C88C Ol industtia/caita/,thC QtOduCttOn QtOCC88 tt8Cl t8 Ot_8ntZCd
8On_ C8Qtt8t8t tnC8: C8Qtt8 t8 8dV8nCCd lOt tbC QutCh88C Ol mC8n8 Ol QtO-
duCttOn [m8CbtnC8 t8w m8tCttm8| 8nd lOt thC CmQOymCnt Ol lOtCC8 Ol
CAFlTAL!5M AND MAKXl5M 11
bOt sO lhl QtOCcss Ot QtOdUClOD COmcs abOUl UDdct lhc dtcClOD O
CQlbsl [Ot hs _cDls]. hc QtOdUCls QtOdUCcd tc lhcD sOd. t lhc
tcvcDUc s h_hct lhD lhc COsls Uscd tOt mcDs Ot QtOdUClOD Dd w_cs
lhcD lhc Ot_Dy dvDCcd CQl hs DOl ODy tcQtOdUCcd lsct bUl
hs asO ycdcd sUtQUs.
LQl D lhc scDsc OUlDcd bOvcQmty s Dlctcsl-bctD_ Dd
mctChDl CQl DOl sO mUCh s DdUslt CQlMhs cXslcd D QtC-
UCy sOCclcs D whCh cXChD_c Dd mODcy cXslcd bUl l Qycd
mDy sUbOtdDlc tOc whctcs QtOdUClOD tOt Dccd ws dOmDDl.
LDc CD htsl sQck Ot caita/umwhcD ltdc Dd bOvc QtOdUClOD s
CODdUClcd m QtcdOmDDly CQlbsl mDDct~lhl s QtOhl-OtcDlcd
tlhct lhD Dccds-OtcDlcd. LQlMsm D lhs scDsc s Qtmty mOd-
cm UtOQcD QhcDOmcDOD.
hc tOOls Ot mOdcm CQlsl dcvcOQmcDl D UtOQc cXlcDd bCk
lO lhc h_h Nddc _cs. Dly tOtc_D ltdc ws Ot_Dzcd OD CQ-
lasl bss wlh lhc mcdcva CDsdcswts Ot QUDdct~QyD_ D
mQOtlDl tOc D lhc cXQDsOD Ot ltdc. LtdUly mctChDls whO hd
Dly bOU_hl QtccXslD_ QtOdUCls lO sc D ddctcDl OCc sltlcd lO
lakc CODltO Ot QtOdUClOD: lhcy CODltClcd OUl lhc QtOdUClO

Ot CctlD
QtOdUCls dvDCcd lhc COsls tOt lhc tw mlctas Dd dCllcd lhc QtCc
l whCh lhcy QUtChscd lhc hD QtOdUCl.
hc dcvcOQmcDl Ot UtOQcD CUlUtc Dd UtOQcD CQl cXQct-
cDCcd dcCsvc UQlUtD D lhc sXlccDlh aDd scvcDlccDm CcDlUtcs. Yhl
s OtlcD dcsCtbcd m sChOObOOks s D "_c Ot LsCOvcty ws sUmm-
tzcd by NC D lhc tOuOwD_ mDDct:
The discovery ol go|d and si|ver in America, me extirpation, ens|ave-
ment and entomment in mines ol the indigenous popu|ation ol that
continent, the eginnings ol the conquest and p|under oF !nd|a, and the
conversion ol Ahica into a preserve lor the commercia| hunting ol|ack-
skins, are M things which characterize the dawn ol the era ol capita|-
ist production. The treasures captured outside Europe y undisguised
|oot|ng, ens|avement and murder, owed ack to the mother count and
were tuned into capita| there. (0apt|a|, I:915, 918)
I 8 AN !NTKODUCT!ON TO KAKL MAKX'5 AI1AI
tlhtn LutOQc CaQtla8l QtOduClOn lOOK hOd Ol mtlhct atca8 man-
ulaClOtIc8 and laClOtIc8 cmct_cd and tndu8ltta CaQtlat8l8 cmQOy In_
COn8lanly _tOwn_ abOt lOtCc8 tn8tdc Ol InCtca8In_y at_c QtOduCltOn
laCIltc8 c8labt8hcd lhcm8cVc8 aOn_8tdc lhc mctChanl CaQtlat8l8. hts
tndu8ltta CaQtlau8m dcVcOQcd tntlIay tn Ln_and tn lhc alc-ct_hlccnlh
and caty-nnclccnlh CcnlutIc8 wtlh tanCc Lctmany and lhc \ntlcd
blalc8 lOOwn_ tn lhc ntnclccnlh Ccnluty. n lhc lwcnltclh Ccnluty lhctc
OCCuttcd a lhOtOu_h CaQtlatzaltOn Ol amO8l lhc cnlttc wOtd bul lhctc
wctc a8O allcmQl8 by a lcw COunlttc8 8uCh a8 u88ta and LhIna lO cX-
ltaCl lhcm8cVc8 hOm lht8 dcVcOQmcnl by butdtn_ a "8OCtat8l 8y 8lcm
[8cc ChaQlct I2 bcOw]. tlh lhc COaQ8c Ol lhc bOvtcl \ntOn'8 aDd
Lhtna8 OttcnlaltOn lOwatd a CaQtlat8l matKcl-cCOnOmy CaQtlat8m al lhc
bc_tnntn_ Ol lhc lwcnly-ht8l Ccnluty KnOw8 nO bOundattc8 al ca8l nOl Ol
lhc _cO_taQhtCa 8Otl. PlhOu_h nO Qatl Ol lhc wOtd t8 wtlhOul CaQtlat8l
tnucnCc nOl a Qatl8 Ol lhc wOtd atc lhOtOu_hy CaQtlatzcd [a8 a _anCc
al at_c Qatl8 Ol htCa w 8hOw] bul lht8 t8nl bcCau8c CaQtlM wOud
cnCOunlct tc8t8lanCc bul bcCau8c lhc COndtltOn8 Ol VaOttzaltOn atc Ol
Vatytn_ laVOtabttly and CaQIla away 8 8ccK8 Oul lhc bc8l QO88Ibultc8 lOt
QtOhl and caVc8 lhc c88 QtOhlabc Onc8 aOnc lOt lhc lImc bctn_.
1.2 TeEmetgenceo]theotkets'Nocement
Ol Ony wa8 lhc dcVcOQmcnl Ol aQQtOQtalcy at_c lOtlunc8 a Qtc-
COndtltOn lOt lhc dcVcOQmcnl Ol tndu8ltta CaQtlat8m tl a8O tnVOVcd
lhc "hcctn_ Ol lOtCc8 Ol abOt: QcOQc whO wctc nO On_ct 8ubjcCl lO
lcuda tcaltOn8 Ol dcQcndcnCy whO wctc lOtmay ltcc and lhctclOtc
had lhc QO88tbItly lOt lhc ht8l ltmc lO 8c lhctt abOt-QOwct y cl a8O
wctc "ltcc hOm cVcty 8OutCc Ol tnCOmc whO QO88c88cd nO and lhcy
COud CultValc tn Otdct lO 8utVIVc and lhu8 wctc lOtCcd lO 8c lhctt
abOt-QOwct lO 8utvtVc.
bma Qca8anl latmct8 whO had bccn tmQOVctt8hcd Ot cXQccd hOm
lhctt and [andOtd8 had Ollcn ltan8lOtmcd CtOQaDd tnlO Qa8lutc and
8tnCc lht8 wa8 mOtc QtOhlabc] a8 wc a8 tutncd atlt8an8 and day abOt-
ct8 COn8ltlulcd lhc COtc Ol lht8 "QtOclattal whtCh wa8 Ollcn lOtCcd
CAFTAL!5M AND MAKX5M I9
nto pcmancnt wagc Iabor by thc dcpIoymcnt oIthc most brutaI statc
voIcncc-pcrsccuton oI "vagabonds" and "bcggars," thc crccton oI
so c cd workhouscs. Jhc cmcrgcncc oI modcrncaptaIsm was not a
pcaccmI, but rathcr a dccpIy voIcnt proccss, conccrnng whch Marx
wrotcn0aita/:
money, according to Auger, comes into me wor|d with a congeni-
ta| |ood-stain on one cheek," capita| comes dripping 6om head to toe,
6om every pore, with |ood and dirt. (0apt|a|, I .925-25)
AtthccostoIcnormoushumansacrhcc,ndustraIcaptaIsmdcvcI-
opcdnuropc[ntahy nngIand] atmcbcgnnngoIthcnnctccnth
ccntury.WorkdaysoIuptohItccnorsxtccnhoursandIaborIorccdupon
chdrcnoIsxorscvcnycarsoIagcwcrcjustaswdcsprcadascxtrcmcIy
unhcathy andhazardouscondtonsoIwork.AndIorm thatwagcswcrc
hardIy sumccntIorsurwvaI.
Kcsstancc arosc aganst thcsc condtons hom varous guartcrs.
Workcrssoughthghcrwagcsandbcttcrworkngcondtons.Jhcmcans
uscdto achcvcthcsc goaIs varcd,and rangcd hom pcttons to strkcs
to mItant battIcs. 5trkcs wcrc hcgucntIy put down voIcntI, through
thcdcpIoymcntoIpoIccandthcmItary,andthchrsttradcunonswcrc
oItcn pcrsccutcd as "nsurrcctonary" assocatons, thcr Icadcrs oItcn
convctcd as crmnaIs. Jhroughout thc cntrc nnctccnth ccntury,bat-
tIcs wcrc carrcd outIorthc rccognton oI tradcunonsandstrkcsas a
IcgtmatcmcansoIstruggIc.
Wthtmc, cnIghtcncd ctzcns and cvcn ndvduaI captasts crt-
czcdthcmscrabIccondtonsundcrwhchaIargcpartoIthcconstantIy
growngproIctaratvcgctatcddurngthccourscoIndustraIzaton.
UItmatcIy,thcstatcwasIorccdtonotccthatthcyoungmcnwhowcrc
subjcctatancarIy agctomcovcrIy IongworkhoursoIthcbctorcswcrc
noIongcrsutabIcIor mItary scrvcc. artaIIy undcrprcssurchomthc
ncrcasngIy strong workngcIass,partaIIy ductothcnsghtthatcaptaI
andthcstatcnccdcdhaIhayhcaIthypcopIcasIorccsoI IaborandassoI-
dcrs,thc"Iactory Iaws"wcrcntroduccdnthcnnctccnthccntury,agan
wthngIandIcadngthcway.MnmaIhcaIthprotccuonsIorcmpIoyccs
20 AN NTKODUCTON TO KAKL MAKX'5 AI1A1
weremandated,whi|etheminimumage|orchd|aborwasraisedandthe
maximumdayworkinghours|orchd|aborers|owered.U|timate|y,the
workingtime|oradu|tswas|imited.!nmostsectors,anorma|workdayo|
twe|veand|atertenhourswasintroduced.
During thenineteenthcentury,theworkers'movementgrewicreas
ingystrong,andthereemergedtradeunions,workers'associanons,md
u|nmate|y msoworkers'po|iticmparties. Wimtheextensiono|sumage,
wchwas initia||y |imitedtopropertyowners ( ormoreprecise|y: prop-
erty-owningma|es),thepar|iamentaryhactionso|thesepartiescontinued
togrow.Aconstantsourceo|debate thequestionconcegthegoa|
o|the strugg|e o|the workers'movement. theissuemere|y mat o|a
re|omedcapitismoro|theabo|itiono|capitmsm?A|sodebatedwasme
questiono|whemerstatesandgoveentswereopponentsthatshou|d
be|oughtustasmuchas capita|or whethertheywerepossib|ecoahnon
partnerswhomere|yneededtobeconvincedo|meproperperspective.
Since the hrstdecades o| the nineteenth century,there emerged an
abundance o| anmyses o| capita|ism,utopian concepnons o| socia|ism,
re|ormproposa|s,andstrategicb|ueprintsastohowparticu|argoa|swere
tobebestachieved.Fromthedd|eo|thenineteenthcenturyonwards,
!arxandEnge|swonincreasinginuencewithinthesedebates. Toward
theendo|thenineteenthcentury,bothhada|readydied,but!arsm"
was dominant within the intenationa| workers' movement. However,
evenbackthenitwasquestionab|eastohowmuchthis!arxism"had
anythingtodowith!ac'stheory.
1.3NaandNaum"
Kar|!arx( I8I8-I883) wasbon inTrier.Hecame|romaneducated
petit-bourgeois|ami|y;his|atherwasa|ayer. !ac|orma||ystudied|aw
inBonnandBer|in,butoccupiedhimse||above m|e|se withthethen-
dominantphi|osophyo|Hege|( I77O-I83I)andtheYoungHege|ans,a
radica|groupo||o||owerso| Hege|.
In I84243!arx was the editor o|theRheinischeZeimng, which
6nctionedasanorgano|the|ibera|Rhine|andbourgeoisieinopposition
CAFlTALI5M AND MAKXl5M 2
tothcauthortaran mssan monarchy. nhsartcIcs, Marxcrtczcd
russan pohccs, whcrcby thc HcgcIan conccpton oI thc "csscncc"
oI thc statc, namcIy thc rcaIzauon oI a "rcasonabIc hccdom"standng
abovcm cIassntcrcsts,scrvcdasthcbcnchmarkoIcrtcsm.urngthc
courscoI hs journaIstcactvty,Mancamcntomorcandmorccontact
wth cconomc gucstons, whch madc thc HcgcIan phIosophy oI thc
statcappcarncrcasngIy dubous.
Undcr thc nhucncc oI Ludwg cucrbach ( I8O4-1872), a radcM
crtcoIHcgcI,Manattcmptcdtotakc"rcaIhumanbcngs"ashspont
oI dcparturc rathcr than HcgcIan abstractons. n dong so, hc wrotc
hsEconomicandPhi/osohica/NanusctitsoI I844,whch wcrcncvcr
pubIshcd durng hs |Ictmc. n thcsc tcxts, hc dcvcIopcd hs "thcory
oI aIcnaton` whch wouId go on to cnjoy an cxtraordna rcccpton
n thc twcntcth ccntury. Marx attcmptcdto show that undcr captaIst
rcIatons thc spcccs bcng [0attungsuesen], thc human csscncc oI rcaI
hmans-that s to say what scparatcs thcm hom anmaIs, namcIy that
thcy dcvcIopcdmcrpotcntaIandItythroughIor-s"aIcnatcd":
as wagcIaborcrsthcy do notposscssthcproductsoIthcrIabor,nordo
thcycontroIthcIaborproccss,bothbcngsubjccttothcruIcoIthccap-
taIst.0ommunum,mcaboItonoI captaIsm,sthcrcIorc conccvcdoI
by ManasthctransccndcnccoIaIcnauon,asthcrcappropratonoIhu-
manspcccs[0attungsuesen),thchumancsscnccbcngby rcaIhumans.
urng hs tmc wth thc Rheinuche Zeitung, Marx got to know
rcdrchLngcIs( 182O- I895),thcsonoIaIactory owncrhomarmcn
[today apartoI WuppcrtaI].n I842,IorthcpurposcsoIcompIcunghs
tranng as a mcrchant, LngcIs was scnt by hs parcnts to Lngand and
wtncsscdthc mscry oIthc LngIsh ndustraI proIctarat.y thccndoI
I844thcrccxstcdbctwccnManandLngcIsacIoscpcrsonaIhcndshp
thatwouIdcndurcuntIthccndoIthcrIvcs.
n I845thcy jontIy wotcthc0eanIdo/o,awork[unpub|shcd
durngthcrhIcbmcs]thatwasntcndcd8 ascttIngoIaccountsnotonIy
wth thc "radcaI"Young Hcgchan phIosophcrs,but Mso, as Man Iatcr
wrotc,"wth our Iomcr pmIosophcM consccncc"[MLL W, 29:264).n
thswork,8nthc Theseson|achthatManwotcshortIybcIorcthc
0eanIdeo/o,ManandLngcIscrtczcdnparucuIarthcphIosoph-
22 AN !NTKODUCTON TO KAKL MAKX'5 AI13
C8 COnCcQUOn Ot 8 `hum8n c88cnCc 8nd Ot`8tcn8UOn. hc tc8y cXt8t-
tn_ 8OCt8 tc8UOn8 undct wmCh QcOQc Vc 8nd wOtk bcC8mc thc ObjcCt
Ot mVc8U_8UOn. bub8cgucnty, thc COnCcQt Ot 8 hum8n 8QcCtc8-bcn_ Ot
c88cnCc nO On_ct 8utCc8 tn %8C8 wOtk 8nd hc Ony t8tcy 8nd V8_ucy
8Qc8k8 Ot 8tcn8UOn. 1n d8Cu88tOn8 COnCcDn_ %8C tt t8 8 QOtnt Ot COntcn-
ttOn 88 tO whcthct hc 8Ctu8y d8C8tdcd thc thcOty Ot 8tcn8UOn Ot whcdct
hc 8mQy nO On_ct Q8Ccd tt 8t lhc tOtc@Ound Ot ht8 wOtk. hc dcb8tc 88
tO whcthct thctc t8 8 COnCcQm8 btc8k bctwccn thc wttttn_8 Ot thc `yOun_
md thO8c Ot thc `Od N8C t8 Qtm8tty COnCcmcd Wth tb8 guc8UOn.
%8C 8nd n_c8 wOud bcCOmc Wdcy knOwn thtOu_h thc
0ommunistNanqsto,Qubt8hcd tn 1b+b 8hOtty bctOtc thc Outbtc8k Ot
thc tcVOuUOn8 Ot thc 88mc yc8t 8 QtO_t8mm8ttC tct th8t w88 COmQO8cd
undct thc 8u8QtCc8 Ot thc Lc8_uc Ot LOmmunt8t8, 8 8m8B tcVOuUOn8ty
_tOuQ d8t cXt8tcd Omy tOt 8 8hOtt tmc. 1n thc 0ommunutNanqsto,
%8tX 8nd n_c8 COnCt8cy 8nd 8uCCtnCty Outncd thc tt8c Ot C8Qtt88m
thc tnCtc88tn_y hctCc cmct_tn_ 8nt8_On8m bcwccn bOut_cOt8tc 8nd
QtOct8tt8t 8nd thc tncVtt8bttty Ot 8 QtOct8tt8n tcVOuUOn. ht8 tcVO-
uttOn wOud c8d tO 8 COmunt8t 8OCtcj, b88cd uQOn thc OtttOn Ot
QttV8tc QtOQctty OVct thc mc8n8 Ot QtOduCttOn.
tct thc 8uQQtc88tOn Ot thc tcVOuttOn Ot 1b+b, %8tX h8d tO cc
Lctm8ny. mc 8cttcd tn LOndOn whtCh w88 thcn thc C8QttMt8t Ccntct at
exce//ence8nd 88O thc bc8t Q8Cc tO 8mdy thc dcVcOQmcnt Ot C8Qtt8t8m.
utthctmOtc N COud dt8w uQOn thc tc8OutCc8 Ot thc cnOtmOu8 B-
bt8ty Ot thc ttt8h %u8cum.
hc 0ommunutNanqetoOtt_tn8tcd mOtc bOm 8n tn_cnOu8 tntutUOn
t8thct th8n hOm my t8t-tc8Cm_ 8CcnthC knOwcd_c (8Omc 888ctUOn8
8uCh 88 thc 8c_8UOn Ot 8n 8b8Outc tmm8ct8ttOn Ot dc wOtkct8 wctc
8tct tcVt8cd by %|. %8C h8d 8tc8dy 8t8ttcd tO dc8 wd cCOnOmtC
ttct8tutc tn thc 1b+U8 but hc Ony bc_m 8 COmQtchcn8tVc 8nd dccQ 8C!-
cnttbC cn_8_cmcnt wth QOtUC8 cCOnOmy tn LOndOn. h8 cd bm 8t thc
cnd Ot dc 1bDU8 tO thc QtOjcCt Ot 8 Q8nncd mut-VOmc `LrtUguc Ot
tOutC8 COnOmy tOt whtCh 8 8ctc8 Ot cXtcn8tVc m8nu8CtQt8 wctc dc-
VcOQcd 8t8tUn_ n thc yc8t 1bD nOnc Ot whtCh hOwcVct, wctc COmQcto
Ot Qmt8hcd by %8C (8mOn_ thc8c wctc thc Intoduction Ot 1bD, thc
undtuseO1bD-Db 8nd thc Teotieo]Su:/ula/O1bb1-1bb|.
CAPlTAL5M AND MAKXl 5M 23
%8tX wOtKCd On tht8 QtOjCCt unt thC Cnd Ol ht8 tlC but wOud Qub-
t8h VCty tUC. 8 8 QtCudC thC 0ontti|utiontothe 0titiqueo]Po/itica/
Econom,8 8m8 tCXt COnCCtntn_ thC COmmOdtty 8nd mOnCy w88 Qub-
t8hCd tn oO9 but w88 nOt COnttnuCd. n8tC8d thC ht8t VOumC Ol 0aita/
C8mC Out tn o, 8nd tn oZ thC tCVt8Cd 8CCOnd CdtttOn Ol thC ht8t VO-
umC w88 tCC88Cd. NOumC8 Z 8nd 3wCtC btOu_ht Out 8ltCt %8C'8 dC8th
by ttCdttCh Ln_C8 tn ooO 8nd o9+ tC8QCCttVCy.
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Ol thtnK t8nK: thCy Cn_8_Cd tn 8n CXChm_C Ol CttCt8 wth V8tIOu8 Q8tty
C8dCt8 8nd wtOtC 8tttCC8 lOt thC bOCt8 1CmOCt8ttC QtC88.
_
hCy wCtC
88kCd tO 8t8tC thCtt QO8IttOn8 COnCCOtn_ thC mO8t v8ttCd QOtttC8 8nd
8CtCntthC guC8ttOn8. hCtt tnBuCnCC w88 thC _tC8tC8t wtthtn thC LCtm8n
bOCI8 1CmOCt8ttC 18tty [b11| lOundCd tn o9, whtCh dCVCOQCd 8t 8
Q8tttCu8ty t8Qtd Q8CC 8nd 8OOn 8CCCd 88 8 mOdC lOt thC OthCt Q8tttC8.
Ln_C8 COmQO8Cd 8 8CttC8 Ol QOQu8t wOtK8 lOt thC bOCt8 1CmOCt8Cy
[thC b11| tn Q8tttCu8t thC 8O-C8Cd Anti-Dhting.hC Anti-Dhting
8nd 8bOVC 8 thC 8hOtt VCt8tOn, Socia/um0toianandScientqc,whtCh
w88 tt8n88tCd tntO m8ny 8n_u8_C8 w88 8mOn_ thC mO8t WtdCy tC8d
tct8 Ol thC wOtKCt8' mOVCmCnt tn thC QCttOd bClOtC thC tt8t Otd 8t.
0aita/, On mC OthCt h8nd w88 u8u8y t8KCn nOtC Ol by Ony 8 8m8
mtnOttty. n theAnti-DhtingLn_C8 CtttC8y Cn_8_Cd Wtth thC tdC88 Ol
Lu_Cn 1t:httn_ 8 untVCt8tty CCtutCt tn Cttn. 1t:httn_ C8ImCd tO h8VC
dCVCOQCd 8 nCw COmQtChCn8tVC 8y 8tCm Ol QhuO8OQhy QOtttC8 CCOnO-
my 8nd 8OCt8t8m 8nd w88 8bC tO wtn 8n tnCtC88tn_ numbCt Ol 8dhCtCnt8
tn thC LCtm8n bOCt8 1CmOCt8Cy.
24 AN INTKODUCTION TO KAKL MAKX'5 AI13
Dihring's success rested upon a strong desire withintheworkers'
movement|ora %/tanschauung, or wondview,"acomprehensiveex-
planation o| thewondodering anorientauonand answers to8 ques-
tions. A|ter the worst outgrowths o| eany capita|ism had been elimi-
nated and me everyday existence o| the wage-dependent class widin
capitalism wassomewhatsecure, aspeci6cSocialDemocraucworkers'
culture developed: in workers'neighborhoods thereemerged workers'
sports c|ubs, workers'choral societies,and workers'education societ-
ies.Excludedhommeexaltedbourgeoissocietyandbourgeoisculture,
there developed within the working class a paral!el everyday Ii|e and
educationa|cu|turethatconsciouslyattemptedtodistanceitsel|homits
bourgeois counterpart,buto|tenendedupunconsciously mimickingit.
Andsoitwasthatattheendo|thenineteenthcenturyAugustebel,me
chaimano|meSfDoverthecourseo|manyyears,wasgraciouslyhon-
oredinamannersimilartothewaythatKaiserWilhelmIIwashonored
bythepetit-bourgeoisie.Withinthisclimate,thereemergedtheneed|or
a comprehensive inte|lectual orientation that cou|d be opposed to the
dominant bourgeois va|ues and worldview, in whichthe worHng class
playednoroleormerelyasubordinaterole.
Inso|ar as Engels not only criticized Dhring but a|so sought to
counterpose thecorrect"positions o| a scienti6c socialism,"helaid
the |oundations |or the worldview o| Marxism, which was apprecia-
tivelytakenupinSocialDemocratic propagandaandmrthersimp|ihed.
ThisMarxism|ounditsmostimportantrepresentativeinKar|Kauts[
[J854-J938),whountiltheIirstWor|dWarwasregardedasthelead-
ing Marxist theoretician a|terthedeatho|Engels.Whatdominatedthe
Socia|Democracyattheendo|thenineteenthcenturyunder thename
o|Marxismconsistedo| amiscellany o| rather schematic conceptions:
acrudelyknittedmaterism,abourgeoisbelie|in progress, anda|ew
strongly simp|ihedelementso|Hegelianphi|osophyandmodularpieces
o| Marxian terminology combined into simple |ormulas and explana-
tionso|theworld.farucmanyoutstandingcharacteristicso|thispopular
Marxism were ano|ten rather crude economum [ideology and politics
reduced toadirectandconscious transmission o|economic interests),
aswel|as a pronouncedhistorica|deteinismthat viewedtheendo|
CAPTALl5M AND MAKXl5M 25
capita|ism and the proletarian revolution as inevitable occurrences.
Widespreadintheworkers'movementwasnotMac'scritiqueoFpo|iti-
ceconomy,butratherthisworldviewMarxism,"whichplayedabove
m anidentity-constitutingro|e: itrevea|edone'splaceasaworkerand
socia|ist,andexp|ainedm problemsinthesimp|estwayimaginable.
AcontinuationandmrthersimplihcationoFthisworldviewMarxism
tookplacewithinthehameworkoFMarxism-Leninism."Lenin[1870-
1924),whobecameaFter 1914 so inuential,was intellectual|y rooted
mworldviewMacism.Heopen|yexpressedtheexaggeratedse|F-conh-
denceoFthis Macism":
The teaching ol Mac is a||-powerm| ecause it is true. !t is comp|ete
and hamonious, providing men with a consistent view ol the universe,
which cannot e reconciled with any superstition, any reaction, any
deFense ol ourgeois oppression. [Lenin, 7he Tree Sources and Tnree
0omponent Iartt oj Haum)
eFore1914,Leninsupportedthe5ocia|Democraticcenteraround
Karl Kautsky against the lelt wing represented by Rosa Luxemburg
[1871-1919). His breakwth the center came at the beginning oF the
FirstWoldWar,whenthe5FD votedForwarcreditsrequestedbythe
Cermangovernment.Fromthenon,thesp|itwithintheworkers'move-
menttookitscourse:A5ocialDemocraticwingthatinthenextFewde-
cadeswou|dmovemrtherawayboththeoretica|lyandpractical|yFrom
Macisttheoryandthegoa|oFtranscendingcapitalismstoodoppositea
CommunistwingthatnurturedaMacistphraseologyandrevolutionary
rhetoric,butexistedabovea||toustithezigzagsin thedomesticand
ForeignpolicyoFthe5ovietUnion[suchasduringtheHitler-5ta|inpact).
Ater his death, the Communist wing oF de workers' movement
tumedLeninintoaMarxistFi||ar-5aint."Hispolemica|writings,most
oFwhichwerewrittenwithinthecontextoFcontemporarydebateswith-
m the workers'movement, werehonored as the highest expression oF
Macistscience"andwerecombinedwitha|readyexisting Macism"
intoadogmaticsystemoFphi|osophy[DialecticalMaterialism),history
[Historical Materialism), and po|itica| economy: Marxism-Leninism.
Z AN !NTKODUCT!ON TO KAKL MAKX'5 A1A
ThisvariantoFworldvewMarxismservedaboveallelseanidentity-con-
stitutingro|e,andinthe5ovetUnioninparticu|arleginmizedthepo|iti-
ca|dominationoFthepartyandsudocatedopendiscussion.
!deasingenera|circu|ationtodayconcerningMarxandMarxianthe
ory-whethertheseareappraisedpositive|yornegativelyareessentiay
baseduponthisworldviewMacism. ReadersoFthepresentworkmight
alsohavecertain,seeminglyselF-evident,ideasconcerningMarxiantheo-
ry thatarederivedhomthisworldviewMarxism.utthesentimentMarx
expressedtohisson-in-law,FaulLaFargue,aFterthe|attergaveanaccount
oF FrenchMarxism" a|so app|ies to a |arge amount oF thatwhichas-
sumed the le|oFMarxism"orMarxism-Leninism"over thecourse
oFdetwentiethcentury!Fanythingiscertain,itisthat!myse|Fnot
aMarxist"[MECW,46:356).
However,thisworldviewMacismdidnotremaintheon|ykindoF
Macism.AgainstthebackgroundoFthesplitintheworkers`movement
into 5ocial Democratic and Communist wings, as well as the disap-
pointmentoFtherevo|utionaryhopesthatexistedaFtertheFirstWorld
War,theredeve|opedinthe1920sand1930sdihering[andwidelydi
verging)variantsoFaMarxist"critqueoF worldviewMarxism.These
new currents,which areassociatedwith,among others, Kar| Korsch,
Ceorg Lukacs, Antonio Cramsci [whosePtisonNote|ookswere pub-
|ished alter the 5econd World War), Anton Fannekoek, and the
Frankmrt5choolFoundedbyMaxHorkheimer,TheodorW.Adorno,
and Herbert Marcuse,are oFten retrospective|y aggregated underthe
|abe| WesternMarxism."
Fora|ong time,WesternMarxismonly criticizedthephilosophical
andtheoretical-historicalFoundationsoFtraditonalMarxism:Dialectical
andHistoricalMateria|ism.TheFactthatthecritiqueoFpolitica|econ-
omywasoFtenreducedtoaMarxistpolitcal economy"by traditional
MarxismandthatthecomprehensivemeaningoFthewordctitiquehad
beenlostonlyreemergedintoviewinthe1960sand1970s.Asaconse
quenceoFthestudents'movementandtheprotestsagainsttheU.5.warm
Vietnam,therewasanupsurgeoF leFtistmovementsbeyondandoutsideoF
thetraditiona|5ocia|DemocraticandCommunist partiesoFtheworkes'
movement,andareneweddiscussionconcerningMac'stheory. Nowa
CAPTALl5M AND MAKX5M 27
&r-reachingdiscussionoFMac'scritiqueoFpoliticmeconomyemerged.
ThewrinngsoFLouisAthusserandhisassociateswereveryinuentia|
m tms regard [Althusser 1965,A|thusserjalibar 1965). Furthermore,
thedscussionwasnolongerlimtedto0aita/,othercriticaleconomic
writingsbyMac,suchasthe0ndse,wereincoorated,thelatter
gainingpopularityabovemlduetoRomanRosdols['sbook[1968).For
e [West) Cerman discussion, the writings oF Hans-Ceorg ackhaus
[coectedinackhaus1997)andHe|mutReichelt'sbook[1970)played
acentrmrole,theyprovidedanewimpetusForthenewreadingoFMac's
crincaleconomicwrinngsmenionedinthe FreFacetothepresenttext.
ThepresentworkalsostandswithinthesubstantivecontextoFthis new
readingoFMac."Thediderencesbetweenthisnewreadingandtradi-
nonalMarxist politicmeconomy,mere|yal|udedtointhischapter,wl
becomeclearerthroughoutthecourseoFthiswork.
Z. hC LDjCCt O LtitiQUC in thC LtitiQUC
O OitiC LCOnOmy
n 0aita/,m8tXcX8mIncs lhcC8QIl8IslmOdcOlQtOduClIOn.hcgucs-
LOn hOwcVctIs In uhatmannetC8QIl8Ism IsUcObcCl Ol sludy: In lhc
lcl lhctc8tc8bslt8Cl-lhcOtclICMIngutIcs InlOmOncy 8ndC8QIt88swc
3mslOtICMQ8ss8_cssuCh8slhOscdc8In_ wIlhlhcdcVcOQmcnlOlC8Q-
Il1Isltc8lIOnsIn Ln_8nd. s 0aita/htsl 8nd lOtcmOsl COnCcDcd wIlh
thc m8In lc8lutcs Ol lhc histoto]caita/istdece/oment,Ot wIlh 8 Q8t-
UCu8thaseOl C8QIl8Ism Ot Is lhc QOInl t8lhct 8n a|sttacttheotetica/
dictiono]themodeo]oetationOl C8QIl8Ism: Lt lOt8Isc lhc gucsUOn
mOtc _cnctm y hOw dO hIslOty 8nd lhcOtclIC8 dcQICliOn tc8lc lO c8Ch
OlhctwIlhInlhcCtIlIgucOlQOilIC8cCOnOmy:
AmtlhctgucsUOnCOnCcmslhctc8lOnshiQbclwccnm8OsdcQICUOn
Ol lhc C8QIl8Isl mOdc Ol QtOduCUOn 8nd bOut_cOIs cCOnOmC lhcOty: s
m8O QtcscnUn_ mctcy usl 8nOlhct lhcOty Ol Uc mOdc Ol OQct8lIOn Ol
C8QIl8usm:LOcslhc"CtIUgucInlhcCtiUgucOlQOiUC8cCOnOmyCOnsIsl
sOcy OlQtcVIOusycXIsUn_ lhcOticsbcIn_QtOVcn wtOn_InCctlmnQ8Ccs
sOlh8lm8tXm8yQtcscnl8bcllctlhcOty:LtdOcs"CtIlIgucm8k8mOtc
COmQtchcnsIVc Cmm: O lOtmm8lc tmn_s mOtc _cnctm y: Yh8l dOcs
"CtIUgucmc8nwIlmnlhcb8mcwOtkOllhcCtIUgucOlQOIlIC8cCOnOmy:
30 AN lNTKODUCTlON TO KAKL MAKX'5 A1A
2. 1TeotandHisto:
Enge|shada|readysuggestedahistorica|"mannero|readingMarx's
account.Inareviewo|theearly writing,A 0ontti|utiontothe0tibque
o]Po/itica/Economo|J859,hewrotethatthe|ogic"depictiono|cat-
egoriespresentedbyMarx[/ogica/heremeaningconceptua|,theoretica|)
isindeednothingbutthehistoricaImethod,on|ystrippedo|thehistori-
ca||omando|inter|ering contingencies"[MECW, J:475).AndKar|
Kautsky,whopublishedapopularoutlineo|thehrstvo|umeo|0aita/
inJ887,wrotethat0aita/isanessentim yhistoricalwork."
Then,atthebeginningo|thetwentiethcentury,it became common
know|edgeamongthe|eadinghgureso|theworkers'movementthatcap-
italismhadenteredanewphaseo| development,thato|imperialism."
Mac's 0aita/was understood as an ana|ysis o| competitivecapitaI-
ism,"aphaseo| capitalist deve|opment preceding imperiism. Mac's
research,there|ore,nowhadtobecontinuedbyanaIyzingthenexthis-
toricalphaseo|capitalismimperialism.Hd|erding[J9J0),Juxemburg
[J9J3),andLenin[J9J7)tookupthistaskinvariousways.
Oneso6equendy hears6om contemporaryeconomists,inso|m3
theydon'trejectMarx'smalysisennre|y,thatitisatbestvahd|orthenine-
teenth cenm ut in thetwentiethcentury,economicconditions have
supposedIyundergonesuchetensivechangethatMac'stheoryiso|no
use[wbichiswhyonehearsso|itdeo|itInmosteconomicsdeparments).
Suchhistoricizing"wayso|readingMarx,wbicharesotypicalo|many
introductionstoMac's0aita/,areatthevery|eastopposedtoMac's
ownunderstandingo| hiswork.Inthe|orewordtothe6rstvolumeMac
writesthe|ol|owing conceningtheobjecto|hisresearch:
What ! have to examine in this work is the capita|ist mode ol pro-
duction, and the re|ations ol production and loms ol intercourse
hrkenrsoern|muse| that correspond to it. Unti| now, their |ocu c|asst-
cu has een Eng|and. That is the reason why Eng|and is used as the main
i!|ustration ol the theoreticaI deve|opments ! make. [ . . . | !ntrinsica|Iy, it
is not a question ol the higher or |ower degree ol deve|opment ol the
sociaI antagonisms that spring 6om the naturm |aws ol capitmist pro-
THE OB]ECT OF CKTQUE
duction. !t is a question ol these |aws themse|ves, ol these tendencies
winning their way through and working themse|ves with iron necessity.
(0apt|a|, 1.9O-9I)
3 I
HereMacexp|icit|ystatesthatheisconcernedneitherwththehis-
toryoFcapitalismnorwithaspecihchistoricmphaseoFcapitalism,but
ratherwithatheoreticm"ana|ysis oF capitalism. examined are the es-
sentia| determinants oF capitalism, those elements which must remain
thesameregardlessoFa|| historica| variationsso thatwe may speak oF
capitalism"as such. Whatisportrayed is thereFore not a [historicay
orgeographicm|y)specihccapita|ism,butrather,asMarxsaysattheend
oFthethirdvo|umeoF 0aita/,Weareonlyouttopresenttheintemal
organizationoFthecapitmistmodeoFproduction,itsidealaverage,asit
were"[0aita/,3. 970).
WiththisstatementMarxmerelyFormatestheC hemakesForhis
account.Whetherthisc|aimisactuay redeemed,whetherMarxactum y
mmagestoportraythecapitahstmodeoFproduction"m itsidemaverage,"
issomethingtobeaddressedwhenwedealwiththedetailsoFmsaccount.
Thestatementscitedabovec|aritheleveloFabstractionoFMac's
account. iFtheana|ysisiscarriedoutattheleve|oFthe ideal average"
oFthe capita|istmodeoFproduction,thenitactual|y provides thecat-
egoriesthatmustunder|ieanyresearchintothehistoryoFcapitalismor
aparticu|arphase.
Thenotionthatonemustknowmstory in ordertounderstandthe
presenthas acertainustihcationwhen app|ied to thehistory oFevents,
butnotForthestructura|historyoFasociety.Rather,theoppositeisthe
case. to examine the constimtion oF a particu|ar social and economic
structure, one has to be a|ready Familiar with the com/eted structure.
On|ythenwoneknowwhattolookForinhistory.MarxFormulatedthis
ideawiththehe|poFametaphor:
The anatomy ol man is a key to the anatomy ol the ape. On the other
hand, indications ol higher loms in the |ower species ol anima!s can
on|y be understood when the higher lorms themse|ves are a|ready
known. [MECW, 28:42)
32 AN NTKODUCTON TO KAKL MAKX' 5 AJ1A
For this reason, thehistoricaI" passages in 0aita/ come a]et
the (theoretic) depictions oF the coesponding categories and not
beFore: thus the well-kiwn chapter about the5o-called Primitive
AccumuIation,"which conces the emergence oF thehee"wage Ia
borer asapreconditionoFthe capital relationship,is pIacednot atthe
beginningbutat theendoF thehrstvolumeoF 0aita/.The historic
passages com/ementthe theoreticaIaccount, but they don`t constitute
thetheorencaccount.
AIthough0aita/ishrstandForemostatheoreticalwork(whichana
Iyzesa]/(dece/qedcapitalism)andnotahistoricwork(concerned
withthedece/omentoFcapitism),thedepictionisnotahistoricaIinthe
sensedat contemporary economicstoaIargeextentis.Economicsas-
sumesthereisageneraIprobIemoFeconomicactivitythatexistsinevery
societyproductionmustoccur,scarcemeanshavetobedistributed,and
soForth.ThisprobIem,whichisassumedtoremainconstantthroughout
allhistoricaIphases,istheneaminedusingessentiallythesamecatego-
ries(thussomeeconomistsviewthehandaxeoFtheNeanderthasasort
oFcapital).Mac,ontheotherhand,reahzesthatcapitismisaparticu-
IarhistoricmodeoFproduction,whichismndamentalIydiderenthom
othermodesoFproductionsuchasancientsIavehoIdingsocietiesorthe
FeudismoFtheMiddIeAges.!nthisrespect,everyoneoFthesespecihc
modesoFproductioncontainsspecihcreIationshipsthathaveto bede-
scribedwithcategoriesthatonIyretaintheirvaIiditywithregardtothese
modesoFproduction.!nthissense,thecategoriesthatdescribethecapi-
talistmodeoFproductionarehistorical"andinnowaytranshistoric
categories,theyarevidonlyForthemstoricalphaseinwhichcapitism
isthedominantmodeoFproduction.
23Teoand0titique
WithinworldviewMacism,Mwas regardedasthe greateconomist
oFtheworkers'movementwhohaddeveIopeda MarxistpoIiticmecon-
omy"thatonecouldopposeto bourgeoiseconomy,"thatis,theschooIs
oFeconomicsthatregardedcapitalismpositiveIy. MachadsupposedIy
THE OB]ECT OF CKITIQUE
taken overthelabor theory o| valueo|Adam Smith[J723-J790)and
DavidRicardo[J772-J823), themostimportantrepresentativeso| so-
caIIedclassicpohtica|economy.AccordingtotheIabortheoryo|value,
de va|ueo|commoditieswasdeterminedby de|abor-timenecessary
|ortheirproduction.Asdisnnct6omtheclassicaIpolitica|economists,
Machada||egedlydevelopedatheoryo|theexploitationo| |abor-power
andthe crisis-prone natureo| capita|ism.According tothisview, there
are no mndamentaI categoricaI diBerences between Macist polincal
economyandclassica|politica|economy,omydiBerencesconceningthe
conc/uionso|boththeories.
Tbisisbasica||ya|sotheviewo|contemporaryeconomics:intermso|
thesubstanceo|histheoryMacisviewedasarepresentativeo|theclas-
sicaIschoolwho draws diBerentconc|usionsthan Smithand Ricardo.
Andsinceclassicalpolitica|economyisviewedasoumodedbycontem-
poraryeconomcs[modentheoryhasbid|arewelltothedetermination
o|vuebylabor),acontemporaryeconomistdoesn'tthinkhehastoseri-
ouslyconcernhimsel|withMac.
However,asthesubtitleo|0aita/makesc|ear,Marx'sintentwasnot
toprovideanternanvepohtica|economy"butactitiqueo| politica|
economy." Today, anew scientihc approacha|socontainsacritiqueo|
previoustheories,i||ornoother reasonthantojusti[itsownexistence.
utMarxwasconcernedwth|armoredansuchacritique.Hewanted
notonlytocritiqueparticu|artheorieshedoesthatin0aita/hiscri-
nquewasaimedratherattheentitego|politica|economyhewantedto
criticizethecategotica/tesuositionso|anentirebrancho|knowledge.
Macmadeclearthecomprehensivecharactero|thiscritiqueinaletter
hewrotetoIerdinandLassaUeattheendo|theJ850s:
The work ! d presendy concened with is a 0ritique oj Economic
0ategories or, il you like, a criticm expos ol the system ol the ourgeois
economy. !t is at once an expos and, y the same token, a critique ol the
system. [MECW, 40.270, emphasis in originaI)
Thiscritiqueo|categoriesbeginswiththemostabstractcategoryo|
politicaleconomy,thato|va|ue.Marxconcedesthatpoliticaleconomy
34 AN NTKODUCTON TO KAKL MAKX'5 AJ1A
hasgraspedthecontent"concealedinvalueanditsmagnitude,thecon-
necnonbetweenlaborandvalue.utpoliticaleconomyhasneveronce
askedthequestion whythis contenthasassumed that particular Form,
that is,why labour is expressed in valueand why the measurementoF
labourbyitsdurationisexpressedinthemagnitudeoFthevalueoFthe
product"[0aita/,.173-74). Macisnotpredominandycriticizingthe
conclusionsoFpoIiticaleconomy,butratherthemannerinwhichitoses
questions,meaningthedistinctionbetweenthatwhichpoliticaleconomy
aimstoexplainandthatwhichisacceptedassoselF-evidentthatitdoesn`t
needtobeexplainedatalI[suchasthecommodityFormoFtheproduct
oF labor). Thus didAdam5mith,the progenitor oF classical economy,
proceedon the assumptionthathumans,asdistinct hom animals,had
apropensity totruck,barter,andexchange"[1776, 5mith,25).Thus
itwouldbeagenera|humantraittore|atetoallthingsascommodities.
Withinpoliticaleconomy,socialrelationshipssuchasexchangeand
commodity production arenaturalized"and rei6ed,"that is,social
relationships are conceived oF as quasi-natural conditions,ultimately
asthecharacteristicsoFthings[accordingtothisconception,thingsdo
nothrstobtain anexchangevalueonthebasisoFaparncularsocietal
structure,butratherinandoFthemselves).Throughsuchanaturaliza
tion oFsocialrelationships,it appears as iF things havetheproperties
andautonomyoFsu|ects.
Mac characterizes such conditions as an absurdity" [0aita/,
1.169), andspeaks oFaspectralobecnvity"[genstige 0egenstnd-
/ichkeit),[128,translationcorrectedbyauthorandtranslatorspectral"
insteadoFphantom-like")oroccu|t quity"[okku/te Qua/itt) [255,
correctedtranslation: quality"insteadoF ability").Wathemeansin
each case will become clearer in theFollowing chapters. !n worldview
Marxism, as weIl as in bourgeois critiques oF Mac, such conceptions
wereusually glossed over,or were viewed merely as styIistic peculiari-
ties.However,withthesedescriptionsMarxtookM atacentralissue
oFthecritiqueoFpolincaleconomy,namely,thatthenatuta/izationand
tecationoF socialrelationshipsisinnowaytheresultoFamistakeby
individualeconomists,butrathertheresultoFanimageoFreaIitythatde-
velopsindependendyasaresultoFtheeverydaypracticeoFthemembers
THE O]ECT OF CKT!QUE 35
Ol DOut_cOissOCicty.PtlhccndOl thcthitdVOumcOl 0aita/,maOCan
dctclOtccstaDbshthatQcOQcInDOut_cOIssOCIclyinhaDIt"thcDcwItChcd
dIstOttcdanduQsIdc-dOWnWOtdandlhatUIs"tci_iOnOlcVctyday ilc
[0aita/,3.969)Is nOt Ony lhcDasIsOlcVctydayCOnsC!OusncssDutasO
COnslItutcsdcDaCk_tOundlOtthcCatc_OtIcsOlQOIlICacCOnOmy
hc gucstIOn Was QOscd aDOVc as tO What "CtiUguc mcans W!din
thc COntcXtOlthc CtIlIguc OlQOblICa cCOnOmy.Ycatc nOW Mc tO QtO-
Vidc a tcntatIVc ansWct: CtItIguc aimstO DtcakdOWn dc theotetica/]e/d
[mcanIn_ thc scl-cVidcnt VicWs and sQOntancOusy atIsIn_ nOUOns] tO
WhICh thc Catc_Otics OlQOitiCM cCOnOmy OWc thcIt aQQatcnt QausIDi-
Ity dc "aDsutdIty [ cktheit)OlQOItiCa cCOnOmy shOud Dc madc
Ccat. Mctc lhc CtIUguc OlQctCcQliOnlhcgucstIOn as tO hOWQctCcQtiOn
Is QOssIDc mccts thc anaysIs Olthc CaQItaIst tcaUOns OlQtOduClIOn:
ncIthctIsQOss!DcWIthOutthcOlhct.'
MOWcVct maOs Intcnt W!lh 0aita/Was nOt sImQy tO WtItc a Ct!-
Uguc OlDOut_cOIssCIcnCcandDOut_cOisCOnsCIOusncssDut asO tOlOt-
muatc a CtiUguc OlDOut_cOIs sOCIa tcatIOns. n a cttct hc dcsCtIDcd
his WOtk-nOt Vcty mOdcstyas '`WIlhOut gucslIOn thc mOst tcttIDc
mIssuc thathasyctDccn hutcdatlhc hcads OlthcDOut_cOIsIc[andOWn-
cts inCudcd][mLLY42.358).
.
tOt thisQutQOscmaOsintcntWas tOQOintOutthc humanandsOCa
COsts COnncCtcd Wid CaQIlaIst dcVcOQmcnt. Mc attcmQts tO QtOVc lhat
`'WIlhin dc CaQ!uIst systcm m mcthOds lOttaisin_ lhcsOCIa QtOduCUV-
ijOlaDOutatcQut!ntOchcCtatthcCOstOldcindIviduaWOtkt datm
mcanslOtthcdcVcOQmcntOl QtOduClIOnundct_OaninVctsiOnsOthatdcy
DcCOmcmcansOldOminaUOnandcQO!latiOnOlthcQtOduCcts[0aita/,
1.799,COttcCtcd uansaUOn].'LtashcQutItInanOdctQassa@.
Capita|ist production, thereFore, on!y deve|ops techniques and the de-
gree oF comination oF the socim process oF production y simu!tane-
ous|y undemg the originm sources oF M wea|ththe soi| and the
worker. [0aptta|, 1:638)
maO dOcsnOtintcndtOmakcamon/CtItIgucWilhsuChCOmmcnts.
maOdOcsnOtaCCuscCaQIlaism[OtcVcnindIViduaCaQitaists] OlVIOat-
30 AN NTKODUCTON TO KAKL MAKX'5 AI1A
ingsomeetenalnormso|justice.Heisaimingrathertostateamattero|
|act:thatthereisanimmanentdesttucticeotentia/o|capitalismthatis
activatedtimeandtimeagain[seechapters5and9).Onthebasiso|its
mannero| mnctioning, capitalismmustalwayscontravenetheelemen-
tary interestso||aborers.Within capita|ism, theseelementary interests
canonlybeprotectedinatemporaryand|imitedway,butthesituation
canonlybemndamentallyalteredwhencapita|ismisabolished.
Mac does not advmce a moral right" to an unscathed eistence
or something simi|ar againsttheimpositions o| capita|ism.Instead, he
hopes that with megrowng insight into the destrucnve nature o| the
capita|istsystem[whichcan beestablishedwithoutrecoursetomoral-
ity),theworkingc|asswil|takeupthestruggleagainstthissystemnot
onthebasiso|mota/it,butratheronthebasiso|itsownintetest.Not ,
however,onthebasiso|aninteresto|abettersituanonwithincapita|ism,
butratheronthebasiso|aninterestinagoodandsecureli|e,whichcan
on|yberea|izedbynanscendingcapitalism.
2.3Dia/ectisANaistosettaStone"
WheneverMac'stheoryisspokeno| ,eventual|ythecatchworddia/ecti
[or: dia|ectica| development, dialecnca| method, dia|ecncal portrayal)
pops up, andinmost cases , there is noexplanationo|whatexactly is
meantbythisword.MostnotablyinMacistpohncalparties,opponents
inanargumenthequentlyaccuseeachothero|havinganundia|ectica|
conception"o|whatevermatterisbeingdebated.Alsotoday,inMarxist
circlespeop|espeako|somethingstandinginadiecncrelationship"
to another thing, which is supposed to clari[ everything. Andsome-
nmes, wheneveronemakes acriticalinquiry, oneisansweredwiththe
know-it-al|admonishmentthat onehasto see thingsdialectical|y." In
thissituanon,oneshouldn'ta|lowonesel|tobeintimdated,butshou|d
ratherconstantlyannoytheknow-it-allbyaskingwhatexact|yisunder-
stoodbythetermdialectics"andwhatthedia|ecncalview"lookslike.
Moreo|tenthannot,thegrandioserhetoricaboutdialecticsisreducible
tothesimple|actthateverytbingisdependentuponeverythingelseand
THE O]ECT Ol CKT@UE 1
I8 In a 8lalc Ol InlctaClIOn and lhal Il8 8 talhct COmgICalcdWhICh I8
ltuc In mO8l Ca8c8 Dul dOc8nl tcay 8ay anylhIn_.
1l dI8cClIC8 I8 8gOXcn Ol In a c88 8ugcthCa 8cn8c lhcn Onc Cm maXc a
tOu_h dI8lInCuOn Dcccn lWO Way8 Ol u8!D_ mI8 lctm. 1n Onc 8cn8c dIa-
cCuC8 I8 COn8Idctcd lO Dc aCCOtdm_ lO Ln_c8 lcxl AntiDting, "mc
8CIcnCc Ol lhc _cnct8 aW8 Ol mOuOn and dcVcOgmcnl Ol nalutc human
8OCIcly and lhOu_hl [mLL 25:131|. PCCOtdIn_ lO lhI8 COnCcguOn dIa-
cCuC8 dcVcOgmcnl dOc8 nOl gtOCccd unuOtmy and In a Incat mamct
Dul I8 talhct a "mOVcmcnl In COnltadICuOn8. Ll gatuCuat ImgOtlanCc lOt
dmOVcmcnl atc lhc "Chan_c Ol Qumuly InlO QuaIly md lhc "nc_auOn
Ol mc nc_alIOn. hctca8 Ln_c8 Wa8 Ccat mal WIlh 8uCh _cnct8 8lalc-
mcnl8 nOlh!D_ I8 undct8lOOd aDOul IndIVIdua gtOCc88c8 lhI8 any-
lh!n_ Dul Ccat WmIn lhc hamcWOtX Ol WOtdVIcW maDI8m "dIacClIC8
undct8lOOd a8 lhc @nctM 8CIcnCc Ol dcVcOgmcnl Wa8 Ollcn VIcWcd a8 a
8Otl Ol O8clla olOnc Wlh Wh!Ch cVctylhIn_ COud Dc cxgaIncd.
hc 8cCOnd Way In WhICh dI8cCuC8 I8 8gOkcn Ol tcalc8 lO lhc lOD
Ol dcgICuOn In lhc CtIlIQuc Ol gOIuC8 cCOnOmy. m 8gcaX8 On VatI-
Ou8 OCCa8IOn8 Ol hI8 "dI8cClIC8 mclhOd and In dOIn_ 8O 88O gtaI8c8
c_c8 aChIcVcmcnl8. LI8cCuC8 gaycd a Ccnlta tOc In c_c8 ghIO8O-
ghy OWcVct maO ac_c8 mal c_c "my8mcd dIacCuC8 and lhal hI8
dIacCuC I8 lhctclOtc nOl lhc 8mc a8 c_c'8. hI8 mclhOd _8In8 ImgOt-
lmCc WIlh lhc "dI8cCuCa gtc8cnlauOn Ol Calc_OtIc8. hI8 mc8D8 lhal In
lhc COut8c Ol lhc gtc8cnlalIOn lhc !ndIVdua Calc_OtIc8 atc un]o/dedhOm
Onc anOlhct: lhcy atc nOl 8Imgy gtc8cnlcd In 8uCCc88IOn Ot aOn_8Idc caCh
Omct. alhct lhcIt InlcttcauOn8hIg [hOW Onc Calc_Oty ncCc88Ilalc8 mc cx-
I8lcnCc Ol anOlhct| I8 madc Ccat. hc smteOl lhc dcg!ClIOn I8 mctclOtc
nOl a dIdaCuC Quc8lIOn lOt m Dul ha8 a dcCI8IVc su|stanticemcanIn_.
OWcVct lhI8 dIacClIC8 gOtltaya I8 In nO Way lhc tc8ul Ol lhc "ag-
gICalIOn Ol a tcady-madc "dIacClICM mclhOd lO lhc COnlcnl Ol gOIl!-
C8 cCOnOmy. tctdInand La88Mc Inlcndcd 8uCh an "aggICalIOn WhICh
Cau8cd maO lO cxgtc88 lhc lOOWIn_ In a cllct lO Ln_c8: "c w dI8-
COVct lO hI8 CO8l lhal Il !8 Onc lhIn_ lOt a CtIlIQuc lO laXc a 8CIcnCc lO lhc
gOInl al WhICh Il admIl8 Ol a dIacClICa gtc8cnlalIOn and QuIlc anOlhct lO
aggy an 8D8ltaCl tcady-madc 8y8lcm OlO_IC lO Va_uc gtc8cnumcnl8 Ol
_u8l 8uCh a 8y8lcm [mLL 40:261|.
38 AN NTKODUCTON TO KAKL MAKX'5 AI1A
Thepreconditionofadiecticporayisnottheag/icationofa
method[awidespreadconcepnoninwor|dviewMarxism),butramerme
categotica/ctitique,discussedintheprevioussecnon.Andsuchacategor-
ica|crinquepresumesan exactanddetaedfamiliaty andengagment
withthesstanceofaheldofknow|edgetowhichthecategoriesrefer.
eactdiscussionofMarx`sdia|ecnca|presentation"istherefore
on|y possib|e ifone ready knows something about the categories be-
ingportrayed:onecannottalkaboutthe dia|ectica|"characterofMac`s
accountor eventhere|anonship between Marx`s diectic andHege|'s
beforeonehasengagedwithMac`saccountitse|f.Thehequentchar-
acterization ofMarx`s account asadvancing hom the abstract to the
concrete"[MECW,28:38)alsosaysvery|itt|etothosewhoarehrstbe-
ginningtoreadMax's0aita/.Abovem else,theactustrctureofthe
presentationin0aita/isconsiderablymorecomplexthanthisformula,
whichstemshomthe !ntroduction"of1857,wou|d|eadonetobe|ieve.
Otherthanintheforewordandafterword,Macspeaksveryseldom
ofdialecncsin0aita/. Hepracncesadiecticportray,butwithout
demandingfromhisreadersthatthey dewiththesubectofdialectics
beforereading0aita/.On|yinhindsightL onesaywhatisdiecn-
ca|"aboutMarx`s account.Forthatreason,thepresentwork doesnot
beginwithasectionondia|ectics.
. UC DOr %OnCy
3. 1 0sela/ue,Exchange la/ue,andla/ue
maO'8 Inlcnl In 0aita/I8 lO anayZc lhc CagIla:8l mOdc Ol gtOduClIOn
Dul h:8 an81y8I8 dOc8 nOl Dc_:n ImmcdIalcy WIlh CagIl81. n lhc ht8l lhtcc
Chaglct8 Ony lhc COmmOdIly md mOncy atc mcnlIOncd and CagIla I8
dc8l W:lh cxgICIUy Ony ltOm lhc lOutlh Chaglct OnWatd. IlhIn lhc
hamcWOtX Ol lhc hI8lOt:Ca mannct Ol tcadIn_ 0aita/mcnbOncd aDOVc
lhc ht8l lhtcc Chaglct8 atc lhctclOtc undct8lOOd a8 an M8ltaCl dc8CtIg-
lIOn Ol a gtcCagIla:8l "8Imgc [Ot gclly| COmmOdIly gtOduCl:On. ul
lhc ht8l lWO 8cnlcnCc8 maXc Il Ccat lhal lhc Chaglct I8 nOl MOul gtc-
CagIlaI8l COndIbOn8:
The wea|th ol societies in which the capita|ist mode ol production pre-
vs appears as an inunense coection ol commodities", the inmvidual
conunodity appears as its e!ementary Fom. Our investigation therelore
egins with the anmysis ol me commodity. (0apttal, I: I25)
ctc maO gOInl8 Oul a 8gcCIhC a8gcCl Ol caita/ut8OCIaIZal:On: In
CagIlMI8l 8OC:clyand Ony In CagIla1I8l 8OCIclylhc "COmmOdIly I8 lhc
lygICM lOtm Ol Wc81lh. LOmmOdIbc8 [Wh:Ch Wc Can dchnc gtOVI8IOnay
& AN NTKODUCTlON TO KAKL MAKX'5 AJ1A
a8 _OOd8 Inlcndcd lOt cxChan_c] al8O cxI8l In Olhct 8OCIclIc8 bul Ony In
CaQIlau8l 8OCIcly dO lhc OVcChcmIn_ majOtIly Ol _OOd8 COn8I8l Ol COm-
mOdIlIc8. n lhc lcuda 8OCIclIc8 Ol lhc caty NIddc _c8 Ony a 8ma
Ounl Ol _OOd8 wctc cxChan_cd lhc COmmOdI{ lOtm wa8 mOtc Ol an
cxCcQtIOn lhan lhc tulc. hc OVcFhcmIn_ mgOtIly Ol _OOd8 COn8I8lcd
Ol a_tICuluta QtOduCl8 and lhc8c wctc cIlhct QtOduCcd lOt Onc'8 Own
u8c Ot lutncd OVct lO andlOtd8 [nObc8 Ot lhc LhutCh] nOl cxChan_cd.
Ol unlI CaQIlm8m dOc8 cxChan_c bcCOmc COmQtchcn8IVc and wIlh Il
lhc COmmOdIty lOD Ol _OOd8. Lnly wIlh CaQIlMI8m dOc8 wc8lh laKc lhc
lOD Ol a "COlcClIOn Ol COmmOdIlIc8 and Ony wIlh CaQIlaI8m I8 lhc
COmmOdIly lhc "clcmcnlaty lOtm Ol wcMlh. hI8 COmmOdIly lhc COm-
mOdIly In CaQIlMI8l 8OCIclIc8 I8 whal NaO Inlcnd8 lO an8ly zc.
Lnc Only dc8CtIbc8 8OmclhIn_ a8 a commodit Il Il I8 cxChan_cd,
8OmclhIn_ lhal In addIlIOn lO Il8 ue ca/ueal8O ha8 an exchange ca/ue.
hc u8c Vauc Ol 8OmclhIn_ I8 nOlhIn_ Olhct lhan Il8 u8cmnc88 lOt cx
8mQc lhc u8c Valuc Ol a ChaIt COn8I8l8 Ol lhc laCl lhal Onc Can 8Il On Il.
hc u8c Valuc I8 IndcQcndcnl Ol whclhct Ot nOl lhc ObjcCl I8 cxChan_cd.
Ow Il cxChan_c lhc Ch8t lOt lwO 8hccl8 Ol Incn lhcn lhc cxChan_c
V8uc Ol lhc ChaIt I8 twO 8hccl8 Ol Incn. l cxChan_c lhc ChaIt lOt I 00
c__8 lhcn 100 c__8 atc lhc cxChan_c Vauc Ol lhc ChaIt. l dOnl cx
Chan_c lhc ChaIt al m ,bul Ony u8c Il lhcn Il ha8 nO cxChan_c V8uc and
Il I8 a8O nOl a COmmOdIly bul mctcy a u8c V8luc a ChaIt On whICh Onc
Can mOtc Ot c88 COmlOtlably 8Il.
O bc a COmOdIly lO thctclOtc haVc an cChan_c Valuc In addIlIOn
lO a u8c Vauc I8 nOl a "naluta QtOQctly Ol lhIn_8 bul talhct a "8OCIal
Onc: Ony In 8OCIclIc8 whctc lhIn_8 atc cxChan_cd dO lhcy QO88c88 an cx-
Chan_c Vauc Ony lhcn atc lhcy COmmOdIlIc8. 8 NaO nOlc8 u8c Valuc8
"COn8lIlulc lhc malctIa COnlcnl Ol wcallh whalcVct Il8 8OCIal lOtm may
be" [0aita/,1:126).
nd wIlh lh18 wc COmc lO 8n cxttcmcly ImQOtlanl dI8lInCtIOn. hc
"COnlcnl Ol 8OmclhIn_ [Il8 "naluta lOD] I8 dI8tIn_uI8hcd bOm Il8 "8O-
OlOD8Omcumc8 NaO 8Qc8K8 Ol an "cCOnOmIC lOtm-dclctmInauOn
[konomucheFo|timmung).hc "naluta lOtm Ol mc ChaIt I8 8Im-
Qly It8 malctI8 COmQO8IlIOn [lOt cxamQc whclhct Il I8 madc Ol wOOd Ot
mcla]. "bOCIa lOtm On mc Othct hmd mcan8 lhal lhc ChaIt I8 a "COm-
VALUE, LAOK, MONEY 4
modity,"somethingthatuexchangedandthatthereforepossessesanex-
changevaue."ThatthechrisacommodItyisnotacharacteristicofthe
chritselfasatmng,butratherofthesocietyinwhichthisthingexists.
!ndividuaactsofexchangeoccurinm formsof societythatareknown
tous.utitisaspeci6caspectofcapitaistsocietythatamosteverything
isexchanged.Thishasconsequencesforquantitativereanonshipsofex-
change.!nthecaseofexchangeasanisoatedphenomenon,therecanbe
variousquantitative exchange reationships:Icanexchange thechaIrat
onepointfortwosheetsoflinen,oratanotherpointforthree,etc.utif
exchangeisthenonaforminwhich goodsaretransferred,then indi-
vidureationsofexchangehavetomatch"eachotherinacertainway:
intheCpeabove,achairwasechangedfortwosheetsofinenorfor
100eggs.!fthisisso,thenitmustasobethecasethatonecanexchange
100eggsfor2sheetsofinen.Whyisthat?!fthiswerenotthecase,iffor
eampe1 00eggscoudonybeexchgedforonesheetofinen,then
byacleverseriesofactsofexchange!coudconsttymakeapro6t: !
exchangeasheetofinenfor1 00eggs,thenI00eggsfor1chr,then1
chairfor2sheetsoflinen.Throughmereexchange,!woudhavedou-
bedmyinventoryofinensheets,dthroughanumberofcorrespond-
ingactsofexchange!coudcontinuousyincreasemyweath.However,
thiswoudonybepossibeasongas!coudhndexchangepartnerswho
woudbepreparedto carryoutthereciprocaacts ofexchange.Atera
shortperiodoftime,theotherparticipantsinmemarketwoudwantto
imitatemypro6tabechain,andtherewoudbenobodyewhowouId
wanttoengageinexchangehomthe otherside.Reations ofexchange
canonybestabewhentheyexcudethepossibiitythatpro6tandoss
canresutmereythroughaparticuarsequenceofexchangeacts.
Forcaita/utsocieties,inwhichexchangeistherue,wecanthere-
foreconcude:thevariousexchangevauesofthesamecommod:tyaso
haveto constituteexchangevaIuesforeachother.!fachaircanbee-
changedfor2sheetsofinen,andonthe other handfor100eggs,then
onemustasobeabetoexchange2inensheetsfor100eggs.
Now, when such a reguarity ofexchange exists (and itmust exist
forexchange to 6:nction smoothy),then one cannothelpaskingwhat
achair,2|inensheets,and1 00eggshaveincommon.Theanswersug-
9Z AN NTKODUCTON TO KAKL MAKX'5 AI1A
gestedbyoureverydayexperienceis:thesethreethingshavethesame
vue."Through experiencewith exchangewe have arather exactap-
preeiationofthevaIueofmanythings.Iftmsdvergesinactuaexchange
homournotionofwhatathingisworth,thenweconcudethataparticu-
arthingisustcheap"orexpensive."utthequestionsforusare,what
isitthatconsututesthis vue,"andhowismerespectivemagnitudeof
vaIuedetermined?
Longbefore Mac,economists had concened themseveswith this
quesuon and came totwo6:ndamentaydierentanswers. One answer
is: thevueofsomethingisdetermnedbyitsusemness.Forsomething
thatisofgreatuseto me,!'mpreparedtopayaot,whereasI'Ipayvery
ittIe,ornothingatah,forsomethingthatisofitteusetome.ThisutiI-
itytheoryofvaue,"however,facesagreatprobIemthatAdamSmthhad
areadyfonuatedveryceary:waterisof greatuse,wecoudn'thvewith-
outwater,butthevaIueofwaterisvery sma. Compared towater,the
utihtyofadiamond is in6nitesima!ysma,butitsvaIueis huge.Smith
thereforedrewtheconcIusionthatitwouIdnotbetheusemnessofatmng
thatdeterminesitsvaIue.Rather,Smithconsidered thequantityofabor
necessarytoproducesomemingasconstituungitsvaIue.Thisisthesec-
ondmndamentaanswertothequestionastowhatmakesupvaue.
This abortheoryofvaue"wasthecommonunderstandingwithin
poiticaeconomyduringMac'stime.Appied to ourexampe above,
theabortheoryofvauesays thatachair,2inensheets,and I 00eggs
havethesamevaue,becausethesamequantityofaboris necessaryto
producethem.
There aretwo obvious obections to the abortheoryofvaue.For
one,thingsareasoexchangedthatarenotproductsofIabor(forexam-
pe, virgin soi).For another, there are certnproducts ofabor (such
asworksofart)whoseexchangevaueiscompeteyindependentofthe
abor-timeexpendedfortheirproduction.
Regardingthe6rstpoint,itshoudbenotedthattheabortheoryof
vaIue onyexpains thevueofproductsofabor.Things thatarenot
products ofabordonotpossessavaIue." !fthey're exchanged,mey
haveanexchangevaue orprice,butnovaue,andthis exchangevaue
hastothenbeexpainedseparatey(Marxdidthisinvo.3of0aita
VALUE, LAOK, MONEY 43
As to the secondpoint:aworkofartis aproductofabor,butun-
mnormacommodines,itisauniqueobject,somethingthatonyexists
once.Thepricethatabuyerispreparedtopayforitisacoector'sprice,
whichhasn'tthe sightestto dowith the aborexpendedby the artist.
However,mosteconomicproductsarenotunique,butrathermass-pro-
ducedgoods,anditismevaueofthosegoodsthatshoudbeexpained.
Macaso sees thevaueofcommoditiesas accountedforby com-
modity-producingabor. Asanobjecti6cationofequahumanabour,"
commoditiesare ca/ues.Themagnitudeo]ca/ue isdeterminedbythe
quanntyofthe'vaIue-foningsubstance,'theabour,containedinthear-
tice"[0aita/,I . I20).
ut,Macconnnues,itisnottheabor-timeindicidua/expended
byisoatedproducersthatcreatesvue(achairthenproducedbyasow
carpenterwoudhavemorevauethananidenticachairproducedbya
speedycarpenter).Rather,itisthesociahynecessaryIabor-nme"that
createsvaue.
Socia||y necessary laour-t|me is the !aour-time required to produce
my use-va|ue under the condiuons ol producnon nomm lor a gven so-
ciety and w|th the average degree ol sk||l and |ntens|ty ol |aour preva-
|ent |n that soc|ety. (0aptta|, 1:129)
However, me abor-time sociaIy necessary forthe producnon ofa
parncuarusevauedoesnotremainconstant.!fmeproductivityofa-
borincreases,ifmoreproductscan becreatedinthesametimespan,
thentheabor-timesociaIIynecessaryfortheproducnonofasingeitem
hasdiminishedandthemagnitudeofitsvauedecines.!f,however,the
producnvity ofabor decines, then the abor-time sociaIIy necessary
forproductionincreases,andthemagnitudeofasingeproduct'svaue
increases.This coudbethe consequence,forexampe,ofnaturacon-
ditions:ifahanestis spoied,thenthesamequantityofaboryiedsa
smaer output,moreaborisnecessaryfortheproductionofasinge
fruit,anditsvaueincreases.
!fexchangeexists,thenadivisionofaborisimpied.!onIyexchange
forthings mat!donotmysefproduce.Divisionofaborisaprecondi-
44 AN NTKODUCTON TO KAKL MAKX'5 A1A
tiono| exchange, butexchangei snotaprecondition|orthedivisiono|
|abor, as aglanceat any |actory wou|d conhrm:wimina |actory, there
isahigh level o|divsiono| labor, buttheproductsthemselvesare not
exchanged|oroneanother.
Upuntilnow,onemighthavehaddeimpressionthatwhentheterm
commodity"isused,itre|erssole|ytophysica|objects.utwhatisre|-
evant here istheact o|exchange, notthe|actthat physica| objectsare
beingexchanged.Servcescana|sobeexchangedandthere|orebecome
commodities.Thediderencebetweenamaterimproductandanimma-
terial"serviceconsistsso|e|yo|adiderenttempora|relationshipbetween
productionandconsumption: themateria|productishrstproducedand
subsequent|y consumed[abreadrollshou|dbeconsumed onthesame
day,butanautomobilecanremainbyitsmanu|acturer|ora|ewweeksor
evenmonthsbe|oreIhavethechancetouseit).Inthecaseo|asenice
[whetherwearetaIkingaboutam ride,amassage,oratheaterper|or-
mance),theacto|productionisconcurrentwiththeacto|consumption
[asthetaxidriverproducesachangeo|p|ace,Iconsumeit).Thedider-
ence betweenservices andphysical objects consists o|a disunctiono|
dematetia/content,thequesuonastowhethertheyarecommodities
permnstotheirsocia/ ]o,andthatdependsuponwhetherobjectsand
servicesareexchanged.Andwiththat ,wehavesortedoutthemattero|
thehequentlystatedargumentthatwiththetransitionhommindustri-
altoase~ceeconomy"orinthele|t-wingvarianto|HardtandNegri~
thetransitionhommaterial"toimmateria|"productionMac'sva|ue
theoryhasbecomeoutmoded.
Theaspectso|va|uetheorythatwehaveconsidereduptothispoint
were|argely dea|twithby Maconthehrst sevenpages[outo| atota|
o|h|ty)o| the6rstchaptero|0aita/. IormanyMarxists,andmosto|
Marx'scritics,thisconstitutesthecoreo|Mac'sva|uetheory:thecom-
modityisuseva|ueandva|ue,valueisanobjectihcationo|human|abor,
themagnitudeo|va|uedependsuponthesocial|ynecessary|abor-time"
required|ortheproductiono|acommodity[the|astpointishequently
re|erredtoasthelawo|value"). I| that wereactum|y m|there istoit ,
thenMac'svaluetheorywou|dnothavegoneveq|arbeyondclassical
politicmeconomy. utthecentralvalue-theoretica|insightso|Marxare
VALUE, LAOK, MONEY 45
nOt Im:tcd tO thc8c 8Imgc gtOgO8ItIOn8. hc dcCI8IVc mO8l :mgOttnt
8gcCt8 Ol mtx8 V1uc thcOty y DcyOnd Wht h8 lhu8 lt Dccn Out-
Incd WhICh 8hM Dc mdc Cct In thc tc8l Ol thI8 Chgtct.
3.2APtoo]o]theLa|otTeoto]la/ue
jIndicidua/AgencandSocia/Stctute)
Icd ug WIth thc Quc8tIOn COnCcDIn_ lhc dIhctcnCc Dcccn mO'8
VMuc lhcOty nd C88ICM VMuc thcOty :8 thc Quc8tIOn Ol Whcthct mO
hd "gtOVcn lhc DOt lhcOty Ol Vuc Ul :8 Whcthct hc hd c8tDI8hcd
DcyOnd thc 8hdOW Ol dOuDt tht DOt nd nOlhn_ c8c undctIc8 thc
VMuc Ol COmmOdIly. h:8 Quc8t:On h8 Dccn hcQucnty dI8Cu88cd m
thc Ilcttutc DOut mO. ut 8 Wctc DOut tO 8cc mtx W8 nOt t 8
:nlctc8tcd In 8uCh "gtOOl.
Pdm om:th hd "gtOVcn thc dclctmIntIOn Ol COmmOd:ty8
Vuc thtOu_h DOt WIth thc t_umcnl tht DOt cntI8 chOtt nd thl
Wc thctclOtc c8t:mtc thc vuc Ol 8Omcth:n_ CCOtdIn_ tO hOW muCh
chOtt I8 InVOVcd :n gtOduCIn_ :l. ctc Vuc I8 8CtIDcd dItcCty tO
thc tationa/considetationsOl I8Otcd IndIV:du8. mOdcD ncOC88:C
cCOnOmIC thcOty t_uc8 In 8:m:t mnnct tXIn_ utIIly-mxImIZIn_
IndIvIdu8 8 gOInt Ol dcgttutc nd cxg:n:n_ cxChn_c tctIOn-
8hIg8 On thc D8:8 Ol utu:ty c8l:mtc8. Oth C88IC nd ncOC88:C
cCOnOmIC thcOty Dc_In 8 mllct Ol COut8c WIth :8Otcd Ind:V:du8
nd thcIt c_cdy un:Vct8 humn 8tttc_:c8 nd ttcmgt tO cxgIn
thc WhOc Ol 8OCIcly ltOm thI8 8lttIn_ gOInt. 1n Otdct tO dO th:8 thcy
hVc lO gtO_cCt OntO IndIVIdu8 8Omc Ol thc lclutc8 Ol lhc 8OCIcty thcy
gutgOtl tO cxg:n. hu8 dOc8 Pdm omIth dchnc thc "gtOgcn8:ly lO
ttuCX Dttct nd cxChn_c 8 thc ChtCtct:8t:C tht dI8tIn_u:8hc8 hu-
mn8 hOm nImM8 nd ltOm thctc :t I8 Ol COut8c nO gtODcm tO dctIVc
thc 8ttuCtutc8 Ol n cCOnOmy D8cd ugOn COmmOd:ly cxChn_c ltOm
thc tt:OnIly Ol th:8 8Ott Ol gct8On [thc COmmOdIty OWnct| lO dcCtc
thc8c 8ltuCtutc8 8 un:Vct8y humn.
tOt mO On thc Olhct hnd :t W8 nOl thc lhOu_ht gtOCc88c8 Ol :ndI-
V:duM8 lhl tc mndmcntM Dul tthct thc socia/te/ationsIn Wh:Ch mc
40 AN NTKODUCTON TO KAKL MAKX' 5 A1A
individuaIsareembeddedatanygiventime.AshepointedIyFormuIated
itinthendtuse:
Society does not consist ol individua|s, ut epresses the sum ol re|a-
t|onsh|ps and condit|ons in wh|ch these |ndividua|s stand to one another.
[MEC, 28. I95)
ThesereIationsimposeacertainFormoFrationaIitytowhichaIIindi-
viduaIsmustadhereiFtheywishtomaintaintheirexistencewithinthese
conditions.!FtheiractionsconespondtothisrauonaIity,thentheactivity
oFindividuaIssoreproducesthepresupposedsociaIreIations.
Let`smaLethisconnecuoncIearusinganobvousexampIe.!nasoci-
etybaseduponcommodityexchange,everyonemustFoIIowtheIogicoF
exchangeiFheorshewantstosurvive.!tisnotmereIytheresuItoFmy
utiIitymaximizing"behavioriFIwanttoseIImyowncommoditiesdear-
Iy andbuy other commodiues cheapIy. Rather,!haveno otherchoice
(unIess!amsorichthat!canchoose toignoreexchangereIationships).
Andsince!amnotcapabIeoFseeinganaItenative,maybe!evenperceive
myownbehaviorasnaturaI."Whenthemajoritybehavesinthemanner
indicated,they aIso reproduce the sociaI reIations that commodity ex-
changeisbasedupon,andthereForethecompuIsionForeveryindividuaI
tocontinuetobehaveaccordingly.
MacmereForedoesnotaccountForhis vaIuetheoryon the basisoF
theconsiderationsoFthoseengagedinechange.ontrarytoacommon
misunderstanding,histhesisisnotthatthevaIuesoFcommoditiescor-
respondtotheIabor-umesociaIIynecessaryFortheirproductionbecause
thoseengagedinexchangewantittobeso.Onthecontrary,Macmain-
tains thatpeopIeengagedinexchangeinFactdo notLnowwhatthey're
actuaIIydoing[0aita/,I : I-7).
WithvaIuetheory, MacseeLstouncoveraspecihcsociaIstructure
thatindividuaIsmustconFonto,tegatdsso]uhatthethink.Theques-
tionposedbyMacisthereForecompIeteIydiherentthanthatposedby
cIassicaI orneocIassicaIeconomics,inprincipIe,Adam Smithobse~es
asing actoFexchangeandasLshowthe tensoFexchangecanbede-
termined.Macsees the individuaI exchange reIauonas part oFaat-
VALUE, LAOK, MONEY 47
ticu/atsocia/tota/igatotaIityinwhichthereproducuonoFsocietyis
mediatedbyexchange
-
andaskswhattmsmeansFortheImorexpended
by the uho/esocieg.Ashe madecIearin aIetterto his mend Ludwig
KugeImann,aprooF"oFtheIabortheoryoFvaIueisnotthepoint:
The chatter abouttheneed toprove theconceptolvalue arises only
6om compIeteignorance both olthe subectunderdiscussionand ol
themethodolscience.EverychddLowsthatanynationthatstopped
working,notlorayear,butletussay,ustloralewweeks,wouIdperish.
Andeverychildknows,too,thattheamountsol productscorresponding
to the diheringamounts olneeds demanddihering d quantitativeIy
determinedamounts olsociety'saggregateImour. !tissell-evidentthat
thisnecessityolthedistributionolsocimlabourinspecihcproportions
iscertainIynotmolishedbythespecihclormolsocialproduction,itcan
onIychangeitslormolmanilestation.Naturmlawscannotbeabolished
ataIl.Theonlythingthatcanchange,underhistoricalIydiheringcondi-
tions,isthelorminwhichthoselawsassertthemseIves.Adthelormin
whichthis proportionm distributionollabourassertsitseUinastateol
societyinwhichtheinterconnectionolsociaIIabourexpressesitsellas
theprivateexchangeoltheindividuaIproductsollabour,ispreciseIythe
exchgevalueoltheseproducts.(MEC,43.68)
!F,undertheconditionsoFcommodityproduction,thedistributionoF
privateIyexpendedIaborontoindividuaIbranchesoF productionismedi-
atedbymevaIueoFcommodities (consciousreguIauonoradistribution
predeterminedbytradiuondonotexist),thentheinterestingquestionis
howthisisataIIpossibIe,orstatedmoregener y,howprivateIyexpend-
edIaborbecomesacomponentpartoFthetotaIIaboroFsociety. SovaIue
theorydoesn'tprove"thatanindividuaIactoFexchangeisdetermined
bytheproductiveIynecessaryquantityoFIabor.Rather,itshouIdexpIain
mespecihcsocicharacteroFcommodity-producingIaborand Mao
doesthismainIybeyondthehrstsevenpagesoF0aita/discussedabove,
whichtraditionaIMarxismasweIIasmanycriucsoFMactaketobethe
mostimportantForMarx`svuetheory.
48 AN NTKODUCTION TO KAKL MAKX'5 AI1A
3.3A|sttactLa|ot
Rea/A|snacbonandRe/ationo]Socia/la/idation
Oundctsl8ndwh8lsbchIndlhcsQcCIhCsOCI8Ch8t8ClctOlCOmmOdIly-
QtOduCIn_8bOtwch8VclOdc8wlhlhcdIslInCuOnbclwccn"COnCtclc
8nd "8bslt8Cl8bOt.n mOsl 8CCOunls Ol m8tXs V8uc lhcOty lhis dIs-
lInClIOnIsbtIcy mcnlIOncdbulIlsImQOtl8nCcIsbcgucnlynOlundct-
slOOd.m8tXhImsclQOInlcdOulIlsmnd8mcnl8sI_nIhC8nCc:
!wasthehtsttopointoutdtoexminecriticaIlythistwololdnature
olthe lmout containedin commodities.As this point is cncial to an
understanding ol political economy, it tequites h:tther elucidation.
[0aptta|, 1:132)
Yh8ldOcslhIsmc8n:l lhc COmmOdIly h8s8lwOlOdCh8t8Clct 8s
usc V8uc8nd V8uclhcn commodigtoducing/a|otmusl MsO h8Vc 8
lwOlOd Ch8t8Clct. IlIs8bOtlh8l nOlOny QtOduCcs8uscV8ucbulMsO
V8uc. [MctcIlIsImQOtl8nllOnOlclh8lnOl8bOth8s8lwOlOd Ch8t8C-
lctbult8lhctOny commodigtoducingMOt.]
@u8Il8lIVcy dIhctcnl "COnCtclc 8bOts QtOduCc gu8Il8lIVcy dIl-
lctcnl usc V8ucs: C8tQcnlty QtOduCcs 8 Ch8It Incn wc8VIn_ QtOduCcs
8 Incn shccl. Yhcn wc "c8tn 8 lt8dc wc sludy lhc Q81lICu8tIlIcs Ol 8
COnCtclc 8CuVIly whcn wc Obsctc 8 QctsOn wOtkIn_ lhcn wc Obsctc
hImOt hctcXcCulIn_ 8COnCtclc8ClOl 8bOt.
N8uc hOwcVct Is nOl COnslIlulcd by 8 Q8tlICu8t COnCtclc 8bOt Ot
lhtOu_h 8 Q8tlICu8t 8sQcCl Ol COnCtclc 8bOt.Eceacto]/a|otuhose
toductjuhichcana/o|easetcice) isexchangedtoducesca/ue.Ps V8-
ucs lhc COmmOdIlIcs 8tc qua/itatice( cgu8 lhctclOtc lhc V8tIOus 8Cls
Ol 8bOt lh8l QtOduCc V8ucs musl h8Vc lhc sl8lus Ol qua/itatice(equa/
human/a|ot.L8tQcnltydOcs nOlQtOduCcV8uc8sC8tQcnlty [8s C8tQcn-
lty Il QtOduCcs 8Ch8It] t8lhctIlQtOduCcsV8uc8s hum8n 8bOt whOsc
QtOduClucXCh8n_cdwIlh Olhct QtOduClsOlhum8n8bOt. bOC8tQcnlty
QtOduCcs VMuc QtcCIscy 8s 8bOt a|sttacted]omits conctete manqes-
tation 8s C8tQcnlty. m8O lhctclOtc sQc8ks Ol V8uc-QtOduCIn_ 8bOt 8s
"8bslt8Cl8bOt.
VALUE, LAOK, MONEY 49
Abstract |aboristhusnotaspecia|qpeo||abor ependiture,such
asmonotonousassemb|y-|ine|aborasopposedtoarnsana|,content-rich
carpentry.As|aborconstitutinguseca/ue,monotonousassemb|y-|ine|a
borisustasmuchconcrete|aborascarpentry.Assemb|y-line|abor_ust
m caqentry) on constitutes ca/ueasequa/human /a|ot,abstracted
homitsconcretecharacter,or,inshort:assemb|y-|ine|aborandcarpen-
yon|yconstituteva|ueasa|sttact/a|ot.
Acrysta|s"o|abstract|abor,commoditiesarevalues." !arxthere-
|oredescribesabstract|aborastheva|ue-|omingsubstance"orasthe
substanceo|va|ue."
Thesubstanceo|va|ue"asahgureo|speechhashequendybeenun-
derstoodinaquasi-physica|,substannmst"manner: theworker hase-
pendedaspecihcquanntyo|abstract|aborandthisquanntyexistsuithin
theindicua/commodigandnsmeiso|atedarnc|eintoanobecto|vm-
ue.Thatthingsarenotsosimp|eshou|da|readybeapparentbythe |actthat
!acdescesthevmue-obectivity asa spectra|obectivity"sentige
0estnd/ichkeit, 0aita/, 1:128, conected ns|anon), m the mmu-
scriptinwhich!mnotedrevisiono|thestedinono|0aita/prepmng
mesecondednon,t nzungenundlendngezumetstenBandd
aita'"heevenspeakso|a'ure|yEntasncobecnvity"[tei

hanta-
tuche0egstnd/ichkeit).!| the substannist"understandingo|!m's
va|uemeorywereaccumte,menitwou|dbedimcu|ttounderstandwhatis
supposedtobespectrm"or|antasnc"abouttheobecntyo|vmue.
Letusdea|withabstract|aborinmoredetal.Abstract|aborisnotvis-
ib|e,on|yapticu|arconcrete|morisvisib|e,ustastheconcepto| tree"
isn'tvisib|e:!'mon|ycapab|eo|perceivingaconcretebotanica|p|ant.As
withthetemtree,"abstract|morisanabsnacnon,butacomp|etmy di|-
|erentkindo|abstracnon.Normm|y,mstracnonsareconsntutedinhuman
thought.We re|er tothe commonines among individua|Cp|esand
thenestabshanabstractcategory,suchasnee."Butm thecaseo|abstract
|abor,wearenotdea|ingwithsucha'enta|abstracnon"butwimarem
msnaction,"by which we meananabsnactionthatis canied outm the
actua|behavioro|hs,regard|esso|whethertheyareawareo|it.
Duringtheacto|exchange,anabstracnonismadehomtheuseva|ue
o|commodnes,andthecommoditiesareequatedasca/ues. ( O|course,
50 AN NTKODUCTON TO KAKL MAKX'5 AI1A
the individuaIbuyer onIypurchases acommoditybecausehe is inter-
ested in its use vaIue,and,as the casemaybe,rehainshom exchmge
iFhe does not desire this use vaIue, however, iFexchange occurs,then
mecommoditiesareequatedasvaIues.)OnIywiththeequanonoFcom-
moditiesasvaIuesdoesanabstractionhomtheparticuIarityoFtheIabor
thatproduces them actuaIIy occur,anditonIy counts asvaIue-Foning
abstract"Iabor. So the abstractiontea/ occurs,independentoFwhat
meparticipatingcommodityownersthink.
ThispointisnotaIwaysmadecIearIybyMac.HespeaksoFabstract
Iabor as an expenditure oFhumanIabourpower, in the physioIogicaI
sense"[0aita/,I : I37).ThereductionoFvarioustypesoFIabortoIabor
inaphysioIogicaIsense,however,isapureIymentaIabstraction,towhich
anykindoFIaborcanbesubjected,regardIessoFwhetheritproduces a
commodity. Furthermore,thisFormuIanon suggeststhatabstractIabor
has acompIeteIy non-sociaI,naturaIFoundation, andhas thereFore ac-
cordingIyprovoked naturaIisnc"interpretations oFabstractIabor. '!n
otherpassages,however,MacexpressesbimseIFcIeadyconcemngthe
non-naturaIistic Foundation oFabstractIabor. He writes in the revised
manuscripttothehrstedition(Marx-EngeIsCesamtausgabeorMECA,
I!.6. 4I, MacincIudedthissentenceintheFrenchtransIation):
Thereductionolvariousconcreteprivateactsollmortothisabstracnon
ol equalhumanlaborisonlycarriedoutthroughexchange,whichinlact
equatesproductsoldm erentactsollaborwitheachother.
AccordingIy, itis exchange, that consummates the abstraction that
underIiesabstractIabor(independentoFwhetherthepeopIeengagedin
exchangeare aware oFthis abstraction).utthena|sttactImorcannot
bemeasuredinterms oFhours oFIabor:everyhouroFIabormeasured
by acIockisan houroFaparticuIarconctete actoFIabor,expendedby
aparncuIarindivduaI,regardIessoFwhethertheproductisexchanged.
AbstractIabor,ontheotherhand,cannotbeexpended"atm .Astract
Iaboris ate/ation o]socia/ca/idation [0e/tungsceth/tnis) thatis con-
stitutedinexchange.!nechange,the concrete acts oFexpendedIabor
countasaparticuIarquantumoFvaIue-constitutingabstractImor,orare
YALUE, LAOK, MONEY 5 I
ca/idasaspecihcquantumo|abstract|abor,andthere|oreasane|ement
o|thetota||aboro|society.
Thisva|idation[0e/mng) o| private|y expendedconcrete |abor as a
particu|arquantumo|va|ue-constitutingabstract|aborimp|iesthreedi|-
|erentactso|reduction.
i. !ndividua||y expended |abor-time is reduced to socia||y necessary
|abor-time.On|y |aborthatisnecess|ortheproductiono|ause
va|ue under average conditions counts as va|ue-constituting. The
|eve|o|avemgeproductivity,however,isnotdeterminedby anindi-
vidua| producer,but rameruponthe ennrety o| producers o|a use
va|ue.Theaveragechangesconstant|yandon|ybecomesapparentin
meacto|exchange;on|ythendoestheindividua|producerhndout
towhatextenthisindividua||y expended|abor-timecorrespondsto
thesocia||ynecessary|abor-time.
2. !n traditiona|!arxism,a techno|ogica||y determinedsocia||y nec-
essary |abor-time" wasusuay understood as the so|e determinant
o|va|ue-consntuting|abor.Whetherthe use va|uesproduced|aced
acorresponding monetarydemandappearedto p|ay no

o|ein the
determinanono| theirva|ue.However,!ac noted that inorder to
produceacommodityonehastoproducenot on|y auseva|ue,but
rather use-va|ues |or others,socia|use-va|ues"[0aita/, 1: 1i ).!|
a greater quantityo| a use va|ue, a |inen sheet|or eamp|e,ispro
ducedbeyondthato|the( monetary)demandexistinginsociety,then
thismeansthattoogreataportiono|thetota|socia||abour-timehas
been expended in the |ormo| weaving.The eBect is the smeas i|
eachindividua|weaverhadexpendedmorelabour-timeonhispar-
ticu|arproductthanwassociaynecessary"[0aita/,1 :202).
Cnly Iabot-time expended undet the avetage existing conditions ol
ptoductionU we|| U lotthe satisfactionolmonetatysocialdemand
constitutes vaIue.Towhat extent the ptivately expended labotwas
actuaIlynecessaty to satis[demanddepends onthe onehandupon
theamountolthisdemandandontheothethanduponthevolumeol
52 AN !NTKODUCT!ON TO KAKL MAKX'5 AI1A
productionolotherproducersbotholwhichhrstbecomeapparent
inexchange.
3. !ndividuactsoFIaborexpenditurearenotonIy disnnguishedhom
oneanotherintheirconcretecharacter(ascarpentry,astmIoring,etc.)
butinregardtothequaIihcationsoF therequiredIaborpower.SimpIe
Iabour-power"istheIabour-powerpossessedinhisbodiIyorganism
byeveryordinaryman,onmeaverage,withoutbeingdeveIopedinany
speciway"[0aita/,1:135).Exacdywhatcounts asaquhcanon
beIongngtothesimpIeaverageIaborForceandwhether,ForexampIe,
readingandwrinngorcomputersH sarecountedamongmesequaIi-
hcationsvarieshomcountrytocounnyandamongmherentcuIturaI
epochsbutremainshrmIyestabIishedwithinaparticuIarcountryata
parncuIarpointintime.TheIaboroFmorehighIyquaIihedForcesoF
IaborcountsassHIIed"Iabor,andisregardedasconsntutingagreater
magnitudeoFvaIuethansimpIeaverageIabor.To whatdegreeapar-
ncuIarmountoFsH edIaborconstitutes morevaIue than the same
amountoFsimpIeIaborisagainonIyapparentinexchange.NotonIy
dothequcanonsoFtheIaborForceemphaaizedbyMpIayaroIe
inthe quantitativereIation,aIso decisiveareprocessesoFsociaIhier-
archizanonthatarerehected,ForexampIe,intheFactthatFemaIepro-
Fessions"have aIowerstatusthanmaIeproFessions,"whichintun
mhuenceshowactivitiesareconsideredsimpIe"orskiIIed."
TheextenttowhichprivateIyexpendedindividuaIIaborcountoris
ctice(ca/idasvaIue-constitutingmstractIaboristheresuItoFthese
threereducnonsthattakepIacesimu/taneous(intheactoFexchange.
3. 4Sectta/0|ecticig":
APtoductionot0itcumtion Teoo]la/ue
VaIue-objectivity(ettgegenstnd/ichkeit)isnotpossessedbycommodi-
tiesasobjectihcanonsoFconcreteIabor,butratherasobjectihcationsoF
abstractIabor.However,iFaswejustoudined,abstractIaborisareIation
YALUE, LAOK, MONEY 53
oFsociaIvaIidationexistingonIyinexchange(whereprivateIyexpended
Iaborcountsas vaIue-constituting, a5stractIabor)thenvaIue aIso hrst
exists in exchange.What'smore,vaIue is notatm aproperpthatan
individuaIthingpossesses inandoFitseIF. ThesubstanceoFvue,that
constitutestheFoundationoFthisobjecnvip,isnotinherenttoindividuaI
commodities,butisbestowedmutua/intheactoFexchange.
The mostemphatic statementonmis byMarcanbeFoundinhis
revisedmanuscriptForthehrstedition.Therehestatesthatwhenacoat
isexchangedForIinen,thenbotharereducedtoanobjectihcationoFhu-
manIa5orperse."However,itshouIdnotbeForgottenthat
noneo[/othu inando[itseq oa/ue-o/ectioigettgegenstndIichkeit],
theyatethisonlyinsolatasthatmiso/ectioigu common(he/dbythem.
Cutsideoltheirtelanonshipwitheachothetthetelationshipinwhich
theyate equmizedneithet coat notlinenpossessvaIue-obectivity ot
obectivityascongelationsolhumanlabotpetse.(MECA,2.6:30)
Asaconsequence,
aptoductollabot,considetedinisolation,isnotvmue,notisitacom-
modity. ItonlybecomesvalueinitsunitywithanothetptoductolIabot.
(MECA, 2.6.3I)
With this we aIso come cIoser to the phantom-Ide"(better trans-
Iated. spectraI) character oFvaIue-objectivip thatMac spoke oFat the
beginningoF0aita/.ThesubstanceoFvaIueis notsomethingthattwo
commodities have in commonin the way, ForexampIe, that bothahre
truckandanappIehave mecoIorredin common.othareredevenin
isoIationhomeachother,andwhentheyarepIacedaIongsideeachother,
we detectthattheyhavesomethingincommon.ThesubstanceoFvaIue,
andthusthevue-objectivty,issomethingonIyobtainedbythingswhen
theyaresetintoreIationwithoneanotherinexchange. !t'sasiFthehre
truckandappIewereonIyredwhenthey`reactuaIIystandingaIongside
one another,andhadnocoIorwhenseparated(mehretruckinthehre
station,theappIehanginghomanappIetree).
54 AN !NTKODUCT!ON TO KAKL MAKX'5 A1AI
Poma!Iy, objcctvc propcrttcs oI thngs arc nhcrcnt, rcgardIcss oI
thcrrc!attonshtptoothcrthtngs.WcdonotrcgardpropcrttcsoIthtngs
thatonIy cxtstnaspcchcconnccuontoothcrthngsasobjccttvc,tnhcr-
cntpropcrtcsoIthoscthtngs,butrathcrasrc!atons.Iso!dcrAscom-
mandcdby stahscrgcant ,thcnAsa subordnatcandts asupcror.
Jhcpropcrty oI bcngasubordnatcorasupcrorarscshomthcspcchc
te/ationshibctwccnAandwthtnam!tary hcrarchy,butarcnotn-
hcrcnttothcmaspcop!coutsdcoIthtshcrarchy.
n thc casc oI vaIuc, a propcrty that on!y cxsts wthn arcIatonshp
ageatstobcanobjcctvcpropcrtythatsaIsotnhcrcntoutsdcoIthsrc-
Iauonshtp.Iwcattcmpt to!ocatc thts objccuvty outsdcoIthc cchangc
rc!auonshp,ttcIudcsourgrasp.JhcobjcctvtyoIvaIuctsguttcItcr y a
"spcctrMobjcctvtty."
JraduonaIMantsm was aIsotakcntnbythc t!|ustonthat vaIuc was a
propcrty oIanndtvduMcommodtty.JhcsubstanccoIvaIucwasundcr-
stoodna"substantaIst"way,asapropcrtyoIanindicidua/commodty.
Jhc magn:tudc oIvaIuc was a!so undcrstood as a propcrty oI antnd-
vdua! commodty and tt was bcIcvcd to bc dctcrmncd, tndcpcndcnt
oIthccxchangcproccss,bythcguanuty oIsocta|!y ncccssaryIabor-tmc
cxpcndcdtnthctoductionoIthccommodqL onccptonsthatcmpha-
stzcd thc mportancc oIcchangc wcrc accuscd oI advancng a ctrcu!a-
ttonthcory oIvaIuc, andthusoIapproachtng vaIucbyp!acngcmphass
onasupposcdIyncgIgb!caspcct.
Howcvcr,cvcn thcgucsttonas to whcmcr vMuc andthc magnttudc
oIvaIuc arc dctcrmncdn thc sphcrcoIproductton or n thcsphcrcoI
crcu!atton[thcsphcrcoI buytngandscLng]tsthcrcsuItoIaIataIrcduc-
ton.VaIuc tsn`t just "thcrc" aItcr bcng "produccd"somcpIacc. n thc
cascoIabrcadroI!,onccanatIcast poscthc gucsuon [cvcntIthcanswcr
tssomcwhatobvous]astowhcrcttcomcsntocxtstcncc-nthcbakcry
ornthcactoIpurchascovcrthcsMcscountcr.utva!ucsn`tathtng!tkc
thcbrcadroI!,butrathcrasocta!rcIatonshpthataeats0 atangi|
chatactetisticoIathng.Jhc soca!rcIatonshpthattscxprcsscdnvaIuc
andthcmagntudcoIva!ucsconsttutcdnproductonandcrcuIatton,
sothatthc"cthcr]or"gucstonsscnscIcss.
VALUE, LAOK, MONEY 55
hc maitudeo]ca/ueI8 DOt y cl dclcImIDcd bclOIc cxChaD_c but
a8O dOc8 DOt cmcI_c COIDCIdcDtay dutID_ lhc cxChaD_c aCt. t I8 lhc
Ic8ut Ol lhc lhIcclOd IcduCltOD OutIDcd ID lhc QIcVtOu8 8cCttOD Ol QII-
Vatcy cxQcDdcd IDdIVIdua abOI lO ab8lIaCt abOI. hc ma_DItudc Ol
Vauc Ol a COmmOdIly I8 DOt 8ImQy a IcatIOD8hIQ bcwccD lhc indicidua/
abOI Ol thc QIOduCcI aDd thc QIOduCt [whICh I8 whal thc 8ub8taDtIaI8t
CODCcQlIOD Ol Vauc amOuDl8 tO] bul IalhcI a IcatIOD8hIQ bcwccD lhc
indicidua/ abOI Ol QIOduCcI8 aDd thc tota//a|oto]societ. LxChaD_c
dOc8 DOt QIOduCc Vauc but IalhcI mcdIatc8 thI8 IcalIOD tO lhc lOta abOI
Ol 8OCIcty. tOwcVcI ID a 8OCIcly ba8cd uQOD QIIVatc QIOduCltOD lhI8 aCl
Ol mcdIaltOD CaD ODy OCCuI ID thc aCt Ol cChaD_c aDd DOwhcIc c8c.
'
i
IIOI tO bcID_ cxChaD_cd thc ma_Dttudc Ol Vauc CaD ODy bc mOIc
OI c88 c8tImatcd. hI8 c8ttmatIOD I8 a8O Ic8QOD8Ibc lOI whclhcI a COm-
mOdIty QIOduCcI takc8 uQ QIOduCttOD. ul thc c8tImatIOD Ol a Vauc I8
ID DO way thc 8mc thID_ a8 thc cxt8lcDCc Ol lhI8 Vauc a QaIDm laCl thal
8Omc QIOduCcI8 cxQcIIcDCc hI8thaDd.
hc8c COD8IdcIatIOD8 8hOud maKc It CcaI lhat NaO8 u8c Ol mc lctm
8ub8taDCc Ol Vauc 8hOud DOt bc uDdcI8tOOd ID a 8ub8taDtIaI8l way ID
thc 8cD8c lhal a 8ub8laDCc I8 QIc8cDl wtthID IDdIVtdua thtD_8. LbjcCttVtly
a8 Vauc I8 DOl a taD_Ibc a8QcCt Ol aD IDdIVtdua COmmOdIty. LD
[
y wth thc
aCl Ol cxChaD_c dOc8 Vauc ObtaID aD ObjcCtIvc V8uc lOIm thu8 thc ImQOI-
laDCc Ol thc Vauc lOtm aDay 8I8 lOI NaO'8 thcOty Ol Vauc.
'
'
3.52eFoo]a/ueandNone
jEconomicDetetminateFotm)
Ilh lhc aDay 8I8 Ol thc lOtm Ol Vauc NaO CaIm8 lO aCCOmQI8h 8Omc-
lhID_ lhat ha8 DO COuDlctQaIt ID bOuI_cOI8 cCODOmy. tc wtItc8:
Evetyoneknows,ilnothingelse,thatcommoditieshaveacommonvalue-
lorm,whichcontrastsinthemoststrikingmannerwiththemotleynatu-
rallormsoltheiruse-va!ues.!teler to themoneylorm.Now, however,
wehavetoperlotmataskneverevenattemptedbybourgeoiseconomics.
Thatis,wehaveto showtheorigin[0eneru] olthismoney-lorm,we
0 AN !NTKODUCT!ON TO KAKL MAKX'5 AI1A
havetotracethedeveIopmentol theexptessionol valuecontainedinthe
vaIue-reIation olcommodities 6om its simplest, almostimpetceptible
outIinetothedzlingmoney-lotm.(0aita/,I : I39)
This sentencehasbeenlrequentIyunderstood3 ilMarx'sintentis
totrace,atahighIevelolabstraction,thehistoricaIemergenceolmoney,
startinghom the simpleexchange olproducts.utilthatwere the case,
thenhis attempt to distinguish himseIlhom bourgeois economicsby
c!aimingto accomp!ish somethingthattheIatternevereven attempted
wou!d be compIeteIy exaggerated. Lven in Marx's time such abstract-
historicaIsketchesbeIongedtothestandardrepertoireoleconomists.'
utIetusrecaI!thatinthehrstsentenceol0aita/MarcIearIystates
thathisintentisnottoana!yzeaprecapitaIistcommodity,butratherthe
commodity as it exists in capitaIism (see the beginning olsection 3. I
above).HenceitiscIearthatwiththephraseorigin"[0enesu)hedoes
notmeanthehutotica/emetgenceo]mone,butratheraconcqtua/te/a-
tionshi o]dece/qment. He isnot concerned with the historicaIdeveI-
opment olmoney (not even inacompIeteIy abstract sense)butwith a
conceptuaIreconstrucnonoltheconnectionbetweenthesimpIe lom
ol vaIue"(acommodityexpressingitsvaIuethroughanothercommodity)
andthemoneylom."ThisisareIanonthatexistswithincontemporary
capitaIism.MoregeneraI!y,thequestioniswhethermoneyinacommod-
ity-producingsocietyismereIyapracticaIaid(whichis otherwisebasi-
c ydispensabIe)orwhethermoneyisinlactanecsig
InMar'stime,misquestionwasnotamereIyacademicone.Various
sociaIist tendencies, in devisingaIternatives to capitaIism,aspired to a
societyinwhichprivatecommodityproductionwou!d continue to ex-
ist,butmoneywou!dbeabo!ishedandrepIacedbycertihcatesolentitIe-
menttogoodsorsIipsdenotinghoursolperlomedIor.Theproolthat
moneyandcommodityproductionareinseparabIewasaIsointendedasa
critiqueolsuchtendencies.
Inhisana!ysisolmoney,Marproceedsinthreesteps.
I . First,inalorm ana!ysis (meaningthatlormdeterminations are ana-
IyzedwhiIedisregardingthecommodityowners),thegenera!equiva-
VALUE, LABOK, MONEY 01
Ientlorm (respectiveIy, the money lorm) olvaIueisdeveIopedasa
necessarylormol vaIue.
2. SubsequentIy, the acticigo]commodigounetsis deaItwith. actua/
mone,which must correspond to the determinants olthe generaI
equivmentlorm,hrstemergesonthebasisolsuchactivity.
3. FinaIIy, the various]nctions that money assumes within simpIe
circuIation" (meaning the circuIauon olcommodities and money,
abstractinghomcapitaI)aredeveIoped.
ourgeoiseconomicsusumIybeginsitstreatmentsolmoneybyenu-
meratingthevariousmnctionsolmoney. Thatmoneyexistsatahisex-
pIainedwiththeargumentthatwithoutmoneyitwouIdberatherdimcuIt
to organize exchange,that is, the]ustihcation occurs atthe IeveI olthe
activityolcommodityowners.Form-anaIyncaIconsiderationsaboutthe
connectionbetween ca/ue andca/ueocannotbeloundataIIwithin
bourgeois economics,yet this connection is exactIy the 0enesis" that
Marspokeolintheabovequotation.
However,manyMarxistshavedimcuItiesunderstandingMar'sanm-
ysis. SubstantiaIist interpretations, by bourgeois economists, normaIy
pIace emphasis upon the]tnctionso]moneand are generaIIy ataIoss
todeaIwiththeconceptuaIdeveIopmentolthemoneylormandmoney.
ut even non-substantiaistinterpretations olten ignore the diderences
between the hrsttwo steps. the conceptuaI deveIopment olthe mone
]tm,andtheconceptuaIdeveIopmentolactua/mone.We`IIdemwth
thehrststepinthissubsectionandhandIesteps2and3intheloIIowng
twosubsections.
MarxbeginstheanaIysisolthevaIuelomwththeexaminanonol the
simpIe,isoIated,oraccidentaIlormolvaIue." Thisistheexpressionol
acommodity'svaIueinanother.
xcommodityA ycommodity
58 AN NTKODUCTON TO KAKL MAKX'5 AI1A
OrMarx'samousexmpIe.
2OyardsoIinen coat
ThevaIueotheIinenisexpressed,andthecoatservesasameanso
expressingthevaIueotheIinen.othcommoditiesthuspIaycompIeteIy
diderentroIesin theorm oexpression ovaIue, and Marxassigns di-
erenttermsto theseroIes.ThevaIue othehrstcommodity(Iinen) is
expressedasreIativevaIue"(meaninginreIationtosometmngeIse),this
commodityisinthete/atice]otmo]ca/ue.Thesecondcommodity(the
coat)seresasanequivaIent"orthevaIueothehrstcommodity,itism
theequica/ent ]oo]ca/ue.
InthesimpIeexpressiono vaIue,onIythevaIueoonecomoditycan
beexpressedatanygivennme,omythevueotheIinenisexpressed-
3aspecihcquanntyocoat. ThevaIueothecoat,ontheotherhand,is
notexpressed.However,theexpressionovaIue2OyardsoIinenare
worth one coat"-aIsoimpIiesthereverse. Onecoatisworth 2O yards
oIinen."NowthecoatisinthereIativeormovaIueandtheIinenisin
theequivaIentorm.
VaIue cannotbegraspedwitmnan individuaIusevaIue,itonIy ob-
tainsatangibIeormintheexpressionovaIue: thecommoditythatap-
pearsasmeequivaIentorm(commodity)nowhasthestatusobeing
the embodiment othevaIue othe commodity in the reIative orm o
vue(comodityA).utconsideredinisoIation,thesecondcommod-
ityis]ustasmuchausevaIueasthehrstcommodity.However,uithinthe
extessiono]ca/ue,thesecondcommodityintheequivaIentormpIaysa
specihcroIe.IthasthestatusnotonIyobeingaparticuIarusevaIue,but
aIsocountssimu/taneou(,in itsmaniestationas usevaIue,asaditect
embodiment ovaIue. Hence,in thevue-reIation,in which the coat
istheequivaIentotheIinen,theorm othecoatcountsas theorm o
aue" [0aita/,I : I 43).
ThevaIueo theIinenonIyacquiresano|ecticeormbecausethev-
ueassumestheormothecoat,thevaIueotheIinenbecomestangibIe,
visibIe,andmeasurabIeasaspecihcquantityocoat. Marsummarizes
thisasoIIows.
YALUE, LAOK, MONEY
The inten opposition etween use-va|ue and va|ue, hidden within the
commodiq, is, therelore, represented on the surBce y m exten oppo-
siuon, i.e. y a re|ation etween two commodiues such tmtthe one com-
modiq whose own value is supposed to e expressed, counts direct|y
only d a use-va|ue, whereas the other commodity, mwhich that value is
to e epressed, counts direct|y on|y as exchange va|ue. (0aita/,I: I53)
0
VaIueissomethingpureIysociaI,itexpressestheeqa/socia/ca/id
itoFtwo compIeteIy diherentconcreteactsoFIabor,anditisthereFore
a specihc socia/temtionshi. This sociaI reIationship acquires, in the
equivaIentFon,theshapeoFathing,inourexampIe,vaIueappearstobe
directIyidenticwithacoat.ThecoatcountsasanembodimentoF vue,
butonIywithintheFormoFexpressionoFvaIue.Thatmecoathasdiher-
entpropertieswithintheFormoFexpressionoFvaIuethanitdoesoutside
oFitissuIIcIearinthecaseoFthecoat.Withregardtomoney,however,
thisisnoIongerobvousIyvismIe.
ThesimpIeFonoFvaIueexpressesthevaIueoFcommodityAinan
object,maLesittangibIeandmeasurabIe,butisnonetheIessinsumcient,
sinceitonIyreIatescommodityAtoasingcommodity, commodity,
mddoesnotyetreIatecommodityAto othercommodities.
!Fwe now consider the vaIue reIationship oFcommodityA(in this
casetheIinen) to othercommodities,thenwe obtainthe totaIorex-
pandedFormoFvaIue".
2OyardsoFIinenareworth coat,
2OyardsoFIinenareworthI 0Ibs.oFtea,
2OyardsoFIinenareworth4Oms.oFcohee,etc.
ThevaIue oFtheIinennowstandsinreIation to the entireworIdoF
commodities(andnotusttoasingIecommodity),andatthesameume
itbecomescIearthatthevaIueoFthecommodityisindiherenttowardthe
particuIarFormoFusevaIuenwhichitisepressed:acoat,butaIsotea
andcoheeandsoForth,canse~eastheembodimentoFthevaIueoFthe
Iinen.ThevaIueoFtheIinenremainsthesame,whetheritismaniFested
in acoatorin cohee.ThusitaIsobecomescIearthatthe quantitative
00 AN NTKODUCTON TO KAKL MAKX'5 AI1A
exchangereationshipisinnoway coincidenta,afactthatwas notyet
visibeinthecaseofthesimpeformofvaue.
However,theexpandedformofvaueisasoinadequate:theexpres-
sion ofthevaueofcommodityAis incompete and without cosure.
Furthenore,theexpressionsofvaueareheterogeneous,wehavemu-
tipespecihcequivaentfonsthatmutuayexcudeeachother.
Thetotaformofvaueisnothingotherthanaseriesofsimpeforms
ofvaue. ut every singe one ofthese simpe forms ofvaue contains
withInitsefitsowninversion.!fwereversetheseriesofsimpeformsot
vaue,weacquirethegeneraformofvaue":
i coatis
i Obs.ofteaare
4Os.ofcoeeare
worth2Oyoflit:e
Thevaueofcommodities is nowexpressedinasim/eandunqed
fon,becauseasingcommodity,thegeneraequivaent,"senesasan
expressionofvaueforaothercommodities. Sothis formperformsa
decisivemnction:
ThroughitsequationwithIinen,thevalueoleverycommodityisnow
notonlydiherentiatedlromitsownuse-value,buthomaIIuse-vaIues
generaIIy,andis,bythatverylact,expressedasthatwhichiscommonm
aIIcommodities.B this[otm, commoditiate,[otthe]tsttime, tea/g
/to_htintotemtionwitheachothetU oa/u. (0aita/,I. I58,empha-
sisadded)
The vaue-objectivity [ ettgegenstnd/ichkeit) is not an inherent
propertyofanyindicidua/commoditybutratherasocicharacterIstic,
becauseitexpresses thereationshipofindividuacommodities (or,re-
spectivey, theindivduaactsofaborproducingthesecommodities)to
theentirewordofcommodities(respectivey,thetotaaborofsociety).
Thus,notonydoesvauenecessitateano|ecticeformofvaue,itneces-
sitatesaformofvauethatexpressesthissocicharacter,andthisis6rst
accompIshedwththegeneta/]otmo]ca/ue.
VALUE, LABOK, MONEY
ThespecihcsociacharacterothegeneraIormo vaIueisshownin
amrther quity that distinguishes thegeneraI orm ovaIue homboth
theeIementaryandtheexpandedormovaIue.Inbothcases,itisthe
privatetask,so tospeak,otheindividuaIcommoditytogiveitselaorm
ovaIue."utnow:
3hc _cnct8lotm olV8!uc,onlhc olhct h8nd, C8non!y8tI8c 88 lhc_oInl
ConltIDulIonollhcWho!cWotdolCommodIlIc8.ACommodIlyony8C-
guItc88_cnct8cXQtc88IonolIl8VMucIl 8llhc88mclImcolhctCom-
modIlIc8 cXQtc88 lhcItV8!uc8 In lhc 88mc cguIV8cnl 8nd cVcty ncW!y
cmct_cnlCommodIlymu8l looW 8uIl. llhu8 DcComc8cVIdcnllh8lDc
C8u8clhc oD_cCtIVIlyolCommodIlIc8 88V8uc8 I8thcQutc!y"8oCI8!cXI8
lcnCcollhc8c lhIn_8itcanong/eextessedthrvughthewhohtangeo[
theitsocia/te/ations. (0aita/,1: 1J9cmQh88I88ddcd]
WhatbecomesevidenthereissomethingthatisnotcIeartoeveryday
consciousness,butishrstapparent3aresuItoscientihcanaIysis.theso-
cia/chatactetovueexpressesitseIinaspecihcaIIysocia/ormovaIue.
Vaue andmagnitude ovaIuewhichareactuaIIynotproperties o
mindividuaIcommoditycannow,withthehelpothegenet/equica
/ent, be expressed so thatit seems as itheywere simpIe properties o
individuaIcommodities.QuaIitativeIy, the vue ocoats (or tea,codee,
etc.)consistsintheirequaIitywithIinen. thevueoacoat(or2O Ibs. o
tea,4OIbs.ocodee,etc.)is 2OyardsoIinen.
Themone]otmisuItimateIydisnnguishedhomthegeneraIomo
vaIuemereIybytheactthattheequivaIentormhascoaIescedbysociaI
custom"withthe specihcnatura orm oaparticuIar commodity(his-
toricIythishasbeengoId,andtoaIesserextentsilver).Thiscommodity
thusbecomesthemoneycommodity."
Thereerenceto sociaIcustom"makesitcIearthatwththe money
orm,wehndourseIvesattheIeveIotheactivityocommodityowners.
Uptonow,commodityownershavenotbeendiscussed.Thecommodig
]o otheproduct oIaborandmeexchange te/ationo]commodities
havebeenobsered,but nottheexchangeacto]commodigounets.
Z AN !NTKODUCTlON TO KAKL MAKX' 5 A1A
3. 0NoneandExchange
jActicigo]0ommodit0unets)
OnIywiththesecondchapterol0aita/doesMardeaIexpIicitIywith
commodityownersandtheiractivity.as commodityowners,peopIeare
mereIyrepresentanves olcommodities.Forthat reason, the commodity
hadtobeexaminedhrst.
IloneconsidersonIytheexchangereIationolcommodines,thenev-
erycommodityedectiveIyseresasamanilestationolthevaIueolevery
othercommoditylorwhichitcanbeexchanged.Thecommodityowner,
however,doesnotwishtoexchangehiscommodityloranyarbitrarycom-
modity,butratherlordehnite,particuIarcommodities. Forhim,thecom-
modityheownsisnotausevaIue,anditsexchangeshouIdprovidehim
with meusevaIueherequires.The commodipownertherelorewouId
Iiketotreathisown commodityIikeageneraIequivaIentthatcanbedi-
tect(exchanged lor other commodities. ut since every commodity
ownerwantsthishomhiscommodity,nocommodityisageneraIequiva-
Ient. Forthisreason,thecommodityownersintheprocessolexchange
areapparentIylacedwithanirresoIvabIeprobIem.Marsummarizesthe
actua/soIutionratherincisiveIy.
n lhcIt dImCu!uc8 outCommodIly-oWnct8 lhInK !IKc 8u8l: "n lhc Dc-
_InnIn_W88 lhcdccd.(!m4n[angwatdieTa"Coclhc 1aUt 8tl I ,
bCcncJ.]3hcyh8Vclhctclotc8!tc8dy8ClcdDclotclhInK:n_.3hcn8lut8!
!8W8ollhc CommodIlyh8Vcm8nIlc8lcdlhcm8c!Vc8mlhcn8lut8!In8lInCl
ollhc oWnct8 olCommodIlIc8. 3hcy C8n on!y DtIn_ lhcIt CommodIuc8
Inlotc!8lIon88V8!uc88nd lhctclotc 88 Commod:lIc8 DyDt:n_In_ lhcm
Inlo8noQQo8In_tc!8lIonWIlh8omconcolhctCommodIly WhICh8cCc8
88 lhc unIVct88! cguIV8!cnl. Yc h8Vc 8tc8dytc8Chcd lh8l tc8u!l Dy out
8n8!y8I8ol8CommodIly. g3hc lotm8n8y8I8undctl8KcnDy %8tXIn lhc
ht8l Ch8QlctlmtWcdc8!lWIlhInlhc QtcV:ou8 8cClIon.%.1.]Butong
theactiono[societ canr aatticu/atcommodig intotheunioetsa/
equioa/ent. 3hc 8oCI8 8ClIon ol8!! olhct CommodIlIc8 lhctclotc 8cl8
8Q8tllhcQ8tlICu!8tCommodIlyIn WhIChlhcy8!!tcQtc8cnllhcItV8uc8.
3hcn8lut8lotmollhI8CommodIlylhctcDyDcComc8lhc8oCI8!!ytcCo_-
YALUE, LABOK, MONEY
nIcd cguIV8cnl lotm. 3htou_h lhc 8_cnCy olhc 8oCI8QroCc88 IlDc
Comc8 lhc 8QcCIhC 8oCI8mnCuonollhc CommodIlyWhIChh88Dccn8cl
8Q8rllo DclhcunIVcr88 cguIVcnl. llhu8DcComc8moncy. (0aita/,
1: J o~o1 cmQh88I88ddcd]
J
The anaysis of the commodity reveaed the necessity of the genera
equivaent ]tm.In order to behave toward things as commodities,that is,
to reate things to each other as ca/ues,the owners of commodities must
reate their commodines to a genera equivaent. Their socia act" must
make a comodity into a generaI equivaent and thus rea money."
The peope engaged in echange are 6ee" in meir acuvity, but as com
modigounetsthey must foow the aws imposed by the nature of comod-
iues. As Marx aready obsened in me preface to 0aita/,indivduas ony
enter the stage insofm they are personi6cations of economic categries"
[I:92). If the anaIysis begins by considering the acuvity and consciousness
of commodity owners, then the socia contet that needs to be epained m
been men for granted. This is the reason why it was necessary for Mac to
disunguish between the ]otmdeteinant thecommoditand the actic-
igcommodigounets, and ininaIy depict the fon detemts as such,
since they are the given precondiuons for me acuvity md considerations of
the comodity ownerswho then continuay reproduce these condiuons
through their own acuvity [see secuon 5.2 above).
Realy existing money is a resut of the activty of commodity own-
ers, but in no way rests upon a sient contract, as |ohn Locke, one of the
most important phiosophers of the eary bourgeois era, thought. Money
is not simpy introduced with deiberate consideranon in one go, which
is what economists who argue that money is used as a means of simpi[-
ing exchange assume. Commodity owners, emphasized Mac, a/tead
acted|e]ote thinking", their activity necessati( brings about money as
a resmtothenise, it is not at a possibe to reate commodities to one
another as vaues.'
So money is in no way merey a hep6: means of simping ex-
change on the practicaI eve and an appendage of vue theory on the
theorenca eve. Mac's vaue theory is rather a monetatheoto]ca/ue:
without the vaue form, commodities cannot be reated to one another
04 AN NTKODUCT!ON TO KAKL MAKX'5 A1A
a8Vauc8and On!yWIlhthcmOncylODdOc8anadcguatclOImOlV8uc
cxI8l. "ouD8lantIaI8t COnCcQlIOn8 OlVauc WhICh attcmQl lO c8taD!I8h
thcclcnCcOl Va!uc1thInIndIV1dumOD_cCt8aIcte-monetatheoties
o]ca/ue.hcy altcmQt tO dcVc!OQ a lhcOIy OlV8uc WIlhOut IclcIcnCc lO
mOncy. Olh lhc!aDOI lhcOIy OlV8uc OlC!a88ICa!QO!ItICm cCOnOmyand
thcthcOIyOlmaI_Ina!utIItyOlncOC!a88IC8cCOnOmIC8aIcQIc-mOnctaIy
lhcOIIc8Ol Vauc.hcu8ua"maIxI8lVauclhcOIythal8!!c_c8lhatVa!uc
I8 8!Icady COmQ!clc!y dctcncd Dy "8OCIm!y ncCc88aIy !MOI-tImc I8
a8OaQIc-mOnclaIyVa!uclhcOIy. '
3.7TeFunctionso]None, theNone0ommodig,andthe
0ontemotatNonetaSstem
maIx dI8tIn_uI8hc8 Dctccn thIcc mndamcnla! mnCuOn8 OlmOncy lhat
aII8c lIOm lhc "8ImQ!c CIICualIOn OlCOmmOdIlIc8 and mOncy lOnc
COn8IdcI8 Uc tOta! QIOCc88 OlCaQIlmI8l QIOduCbOn and IcQIOduCuOn
thcIcaIcaddItIOnamnClIOn8OlmOncy[8ccChaQtcI8Dc!OW|.
hc hI8tmnCuOnOlmOncy COn8I8l8 Ol8cI_a8 lhcncIa! mca8uIc
OlVa!uclhcVa!uc OlcVcIyCOmmOdIlyI8 cIc88cd a8a8QcCIhC guanly Ol
mOnc
LOmmOdIuc8 aIc V8uc8 a8 "CIy8la8 Ol thcII COmmOn 8uD8tanCc
aD8lIaCt!MOI. oO It I8 nOt mOncy thatmMc8 COmmOdIuc8 COmmcn8u-
I8D!cDullhc COmmOnIclcIcnCc tOaD8tIaCt!aDOI. maO lhcIclOIc nOtc8.
"mOncya8amca8uIcOlVa!ucI8lhcncCc88aIylOIm OlaQQcaIanCc Olthc
mca8uIc OlV8ucWhIChI8InlIIn8ICtOCOmmOdIlIc8namc!y!aDOuI-bmc
[0aita/,1.188).
ulWIlhlhI8thcguc8lIOnI8a!8OQO8cda8lOWhyVa!uc CanDOlDcIm-
mcdIalc!ycxQIc88cdIn!aDOI-tImc OIWhymOncy dOc8 nOl dIIcCl!yIcQ
Ic8cnl !aDOI-lImc. maOVcIy DIIchy dc88 WIlh lhI8 guc8lIOn In 0aita/
In a lOOtnOlc and IclcI8 tO hI8 caI!IcI tcxl Ol1859,A 0ontti|utiontothe
0titiqueo]Po/itica/Econom.nthI8 lcxthcWIOtc:
LommodIlc88tclhcdItcClQtoduCl8olI8o!8lcdIndcQcndcnlIndIVIdu8
knd8ol!8Dout_oeteinte/tetuna/m ngigetPtioatat/eiten],8ndlhtou_h
VALUE, LABOK, MONEY
UcIt8!Icn8uon ntu[eng]InUcCout8col IndIVIdu8!cXCh8n_clhcy
mu8l QtoVc lh8l lhcy 8tc _cnct8! 8oCI8! !out m olhct Wotd8 on lhc
D88I8 olComodIlyQtoduClIon, /a/out/ecomsocia/ /a/outongasa
tesuho[theunioetsa/a/ienation ntu[eng] o[indioidua/kindo[
/a/out. [%LY Z:JZJ~ZZcmQh88I88ddcd]
O
h8l whtCh C8n bc mc88utcd by 8 COCk t8 8w8y8 ju8l lhc tndtVtdu8
QttV8lc 8bOt cXQcndcd bctOtc thc 8Cl Ot cXCh8n_c. 8 nOlcd tn lhc 8cCttOn
COnCcmtn_ 8b8lt8Cl 8bOt Ony wtd cXCh8n_c C8n tl bc 8hOwn hOw muCh
Ot lh:8 QttV8lcy cXQcndcd 8bOt w88 8Clu8!y V8uc-COn8ltluun_ 8nd lhu8
V81:d 88 8n ccmcnl Ot 8OCt8 8bOt-ltmc. NMuc-COn8ltlultn_ 8bOt-ltmc (Ot
lhc m8_ntludc Ot 8b8lt8Cl 8bOt| C8nnOl bc mc88utcd bctOtc, Ony dut:n_
cXCh8n_c8nd whcn lhc V8uc8 Ot 8 COmmOdtttc8 8tc 8cl tnlO tc8ttOn
wtlh Onc 8nOlhct lhcn lht8 8Cl Ot mc88uttn_ C8n Ony bc COnduClcd by
mc8n8 Ot mOncy. Ot lh8l tc88On mMC8n 8Qc8k Ot mOncy 88 lhc `ncCc8-
88ty tOtm Ot 8QQc8t8nCc Ot lhc tmm8ncnl VMuc mc88utcmcnl by Ot-
ttmc: VMuc-COn8ulultn_ Ot-umc C8nnOl bc Olhctwt8c mc88utcd cXCcQl
lhtOu_h mOncy.'
hc cXQtc88tOn Ot lhc V8uc Ot 8 COmmOdtly tn mOncy lctm8 t8 tl8
ce.O 8QcCt] lhc QttCc Ot 8 COmmOdtty lhctc mu8l bc 8 Cc8t undct-
8l8ndtn_ Ot wh8l mnCltOn8 88 mOncy (_Od 8tVct, 8 Q8Qct nOlc| , bul thc
mOncy mu8l nOl ncCc888t:y bc 8l h8nd tl mctcy 8cDc8 hctc tn 8n `tm8_-
tn8ty Ot tdc8 C8Q8Ctly [0aita/,I : I 90).
hc m8_mludc Ot V8uc Ot 8 COmmOd:ly t8 cXQtc88cd tn tl8 Qt:Cc8nd
dt8 t8 lhc 0nQ QO88tb::ly tOt thc m8_n:ludc Ot V8uc lO bc cQtc88cd. t lhc
m8_n:tudc Ot 8 COmmOd:ly8 V8uc Ch8n_c8 tt dctc t8 8 ncw tc8ltOn8htQ
Ot thc tnd:Vtdu8y cXQcndcd 8bOt lO lhc lOl8 8bOt Ot 8OCtcly lhcn dc
QttCc Ot lhc COmmOdtly 88O Ch8n_c8. mOwcVct, lhc tcVct8c t8 nOl lhc C88c:
nOl cVcty QttCc t8 lhc cXQtc88tOn Ot 8 8QcC:hC m8_n:ludc Ot V8uc nOt dOc8
cVcty Ch8n_c tn Qt:Cc tnd:C8lc 8 Chm_c tn lhc m8_n:tudc Ot V8uc.
htn_8 `wtthOul V8uc, mc8:n_ lhO8c lhtn_8 lh8l 8tc nOl QtOduCl8
Ot `8b8lt8Cl 8bOt C8n 88O h8Vc 8 Qt:Cc. h8l C8n bc lhc C88c tOt bOd
cCOnOmtC8y tttccV8nl t88uc8 (tOt cX8mQc thc QttCc Ot 8 nObc t:lc| 8nd
tOt gutlc tmQOtl8nl Onc8 (tOt cX8mQc lhc QttCc Ot 8 8lOCk OQltOn lh8l t8
lhc QttCc Ot lhc t:_hl lO buy 8 8lOCk undct _u8t8nlccd COndtltOn8|.
AN NTKODUCTON TO KAKL MAKX'5 AI1A
hcChan_cInQIICcOlasing/eCOmmOdIqCana8OIndICalcaChan_c
In Il8 ma_nIludc OlVaucDul Il Can a8O Dca8I_n Olc8QcCI8ylOIlunalc
OIunlOIlunalc CIICum8lanCc8 [mOmcnlaQ 8hIh8 In8uQQyand dcmmd|
undcI WhICh lhc COmmOdIly I8 8O!d. hc 8Imu!lancOu8 Chan_c In lhc
QIICc Ola//commodities,lhalI8 aChan_cInlhcQIICc !cVc_cncIaydOc8
nOlIndICalc a Chan_c In a ma_nIludc8 OlV8ucDul IalhcI a Chan_c In
lhcVaucOlmOncy.lhcdcV8ualIOnOlmOncyI8IclcClcdIna_cncIaII8c
InQIICc8[in[ation),WhI!caII8cInmOncy8V8ucI8IchcClcdIna_cncIa
dcCInc In QIICc8 [dation).
nWhallOOW8IlI8mO8l!ya88umcdlhalCOmmOdIlIc8aIccxChan_cd
"al lhcII lIucVauc8.hI8 mcan8 lhalWc dI8Ic_aId mOmcnlaIy luClua
lIOn and lhcQIICc8 OlCOmmOdIlIc8 aIc a88umcd lO Dc adcgualc cxQIc8-
8IOn8 OllhcIIVauc. OWcVcI In 8cClIOn 7.2 Wc w8cc lhalundcI nOI-
mmCaQIl81I8lCOndIOn8COmmOdIlIc8aIcnOlcxChan_cdallhcIIVauc8
mcanIn_ lhal nOIm8QIICc8aIc nOl 8Oc!y lhc cxQIc88IOn Ollhcma_m-
ludc OlV8uc OlCOmmOdIlIc8.
hcsecond]nctionOlmOncyI8 a8 amcan8 OlCIICualIOnWhIChmc-
dIalc8 lhc aCa! cxChan_c OlCOmmOdIlIc8. n cxChan_c lhc OWncI Ol
LOmmOdIlyP [lOIcxamQcaWcaVcIWhOQIOduCc8Incn|WhO8cCOm-
mOdIly dOc8 nOl IcQIc8cnl au8cVauc lO hImWanl8 lO lIan8lOD IlInlO
LOmmOdIly [lOICQcaChmI|WhO8cu8cVauc I8OlInlcIc8llO hIm.
c 8c!8 lhc Incn lOI 20 cuIO8 and 8uD8cgucnl!y QuICha8c8 a ChmIWIU
lhc8c20 cuIO8. maO dc8CIIDc8 lhI8QIOCc88a8lhc"mclamOIQhO8I8OlUc
COmmOdIq[lOIlhcWcaVcIUcIncnha8DccnlIan8lOImcdInlOaCh8II|.
hc matetia/su|stanceOllhI8mclamOIQhO8I8 I8 lhc 8uD8lIlulIOn Ol
Onc u8cVauc Dy anOlhcI. maOa8O 8Qcak8 Ollhc "8OCIa mcl8DOI8m.
hctesu/tI8lhc8amca8lhalOla8ImQcaClOl8WaQQIn_IncnlOIaCh8II.
OWcVcI lhc]otmOllhI8QIOCc88I8 COmQclcydIhcIcnland lhI8 dIhcI
cnCc OllOImI8 QIcCI8c!ylhcQOInlhcIc.
P8dI8lInClhOma8ImQc8WaQlhcmclamOIQhO8I8OllhcCOmmOdIly
I8mcdIalcdDymOncylhcQIOCc88ha8 lhc lOIm LOmmOdIlymOncy
LOmmOdIly[LmL|OICOnCIclcyhOmlhc 8landQOInlOllhcWcaVcI
IncnmOncyChaII.
Yhal I8 lOI lhcWcaVcI lhc hI8laCl OlUcQIOCc88 L~m Uc lIan8-
lOImalIOnOllhc!IncnInlOmOncy I8lOIlhcQO88c88OIOllhcmOncyWhO
VALUE, LAOK, MONEY
buystheinentheconcusionoFmemetamorphosisoFhisoriginalcom-
modity.ThepurchaseoFthechairpresentsitselFtomeweaverasthecon-
cusionoFhiscommodity'smetamorphosis,andincontrast,Forthecar-
penterwhoselsmechair,thisactisthebegnningoFthemetamorphosis
oFthecoodity.
The metamorphoses oF commodities are abyrinthine and never-
ending: in their totaity they constitute the citcu/ation o]commodities.
ThesimpeexchangeoFproductsusevaueForusevaueisincontrast
mereyatwo-sidedaBair,whichisexhaustedintheindivdualactoFex-
change. The circuation oFcommodities and the echange oFproducts
arethusmndamenta!lydiBerent.
The Factthat the interreation oFvarious individual acts is estab-
hshedthroughmoneyinthecirculanonoFcommodities(asopposedto
mereexchangeoFproducts),alsomeansreciprocalythattheinteen
tion oFmoneyaso contains thepossibiityoFtheinterruptionoFthis
cohesion.IFtheweaversellshislinen,butholdsontothemoneywith-
outbuyinganything, then not only is the metamorphosis oFhis own
commodity,thelinen,interrpted,butsoisthemetamorphosisoFother
commodities (Forexampe,the chair).ThepossibiityoFinterruption
andmereForeoFctisisisierenttothemediationoFthesociacircula-
tionoFmatterthroughmoney. utForthemereossi|i/itoFcrisis to
becomeanactua/ctisis,a series oFrthercircumstancesmustcome
intoplay(discussedinchapter9).
Themetamorphosis oFthecommodity, CM-C,begnswith one
commodityandendswithadiBerentcommodityoFthesamevaluebut
adiBerentusevalue.Thecommodityemanates6omaparticuarcom-
modityownerdretuns to himinadiBerentphysicalForm. To that
extent,the commodityispartoFanactoFcitcu/ation.The moneythat
mediatesthiscircuation,onmeotherhand,tracesorbit:duringthe
hrstact,CM,thecommodityownerreceivesmoney,butonyinorder
tospenditagain(undernormallymnctioningcircumstancesoFcommod-
itycircation)andcompetethesubsequentactoFMC.!nitsmnction
asameansoFcircuation,moneyconstanyremainswithinthesphereoF
circuation.However,mereysm|o/icmoneissumcientForcircu!ation,
sincethecommodityownersareonlyconcernedwiththecommodities
AN INTKODUCTON TO KAKL MAKX' 5 AI1A
lhal thcy Can Duy W:lh Il md mOncy Can Dc 8uD8l:lutcd lOI mcIc "8ym
DO8 Ol V0uc lhal aIc thcm8cVc8 WIthOut VMuc [8uCh a8 QaQcI D:8|.
Lny w:th Il8 thitd]nctiondOc8 mOncy utImatcy mnCtIOn a8 tea/
mone, a8 lhc magnitude o]ca/ue mOncy dOc8 nOt aCtuay haVc tO Dc
QIc8cnt and Idca mOncy I8 8umCIcnt a8 a meanso]citcu/ationmOncy
ha8 lO Dc QIc8cnl Dut 8ymDOIC mOncy I8 8umCIcnt. Lny 8 a unIly Ol
ma_nItudc Ol Vauc 0nd mcan8 Ol CIICualIOn I8 mOncy IcaHy mone,lhal
I8 anindqendentem|odimento]ca/ue,and lhI8 ImQ:c8 a 8cIIc8 Ol ncW
dctcImInatIOn8.
hcIca8 lhc VaI:Ou8 COmOdIt:c8 In thcII malcIIa cxI8lcnCc IcQIc-
8cnt QaIlICuaI u8c Vauc8 and lhcII Vauc ["aD8lIaCt WcMlh| Can Ony Dc
Ima_:ncd Ica mOncy I8 thc "malcIIa DcIn_ Ol aD8lIaCl Wcath [%L
29:558, COIIcCtcd tIm8alIOn|. hatcVcI malcIIa OD_cCl mnCt:On8 a8
mOncy COunt8 a8 a lhIn_ Ol Vauc m It8 ImmcdIalc matcIIa cx:8lcnCc. P8 a
lhIn_ Ol Vauc It Cm Dc cxChan_cd at any lImc lOI any OthcI COmmOdI[
and Can lhu8 Dc tIan8lOImcd InlO any u8c VMuc. ca mOncy I8 lhcIclOIc
"thc malcII0 8ymDO Ol Qhy8ICa Wcath [%L 29:558).
ca mOncy mcan:n_ mOncy a8 an IndcQcndcnt manIlc8lalIOn Ol
Vauc ha8 VcIy 8QcCIh.C mnCtIOn8. t mnCl:On8 a8 a hOaId a8 a mcan8 Ol
Qaymcnt and a8 unIVcI8a mOncy.
P8 a hOaId mOncy I8 W:thdIaW hOm CIICuatIOn. l nO On_cI mcdIatc8
lhc CIICuatIOn Ol COmmOdIlIc8 Dut In8tcad 8crc8 a8 m IndcQcndcnl
manIlc8talIOn Ol Vauc Oul8Idc lhc QIOCc88 Ol CIICual:On. n OIdcI tO
hOaId a COmmOdI[ OWncI 8c8 COmmOdIlIc8 W:lhOut cn_a_In_ In a
8uD8cgucnt aCt Ol QuICha8c. hc _Oa Ol lhc 8ac I8 lO hOd On tO mOncy
a8 an IndcQcndcnl man:lc8tat:On Ol Vauc. VcIy COmmOdIly QIOduCcI
In OIdcI nOt tO QO8tQOnc hI8 OWn QuICha8c8 unl: hI8 COmmOdIlIc8 aIc
8Od [OI In OIdcI tO cn8uIc a_aIn8t hI8 laIuIc lO 8c a COmmOdIty| I8
dcQcndcnl uQOn a 8m0cI OI _IcalcI hOaId Ol mOncy.
n It8 h1nClIOn a8 a mcan8 Ol Qaymcnt mOncy a8O aCl8 a8 an
IndcQcndcnl manIlc8talIOn Ol Vauc. l a COmmOdIly I8 nOt QaId lOI at
lhc mOmcnl Ol QuICha8c Dut atcI thcn thc DuycI DcCOmc8 a dcDtOI and
lhc 8c!cI DcCOmc8 a CIcdItOI. %Oncy dOc8 nOl mnCtIOn hcIc a8 a mcan8
Ol CIICualIOn lhat mcdIalc8 a QuICha8c Dut a8 a mcan8 Ol Qaymcnl lhal
COnCudc8 a QuICha8c thal ha8 aIcady haQQcncd. [hc QhIa8c "mcan8 Ol
VALUE, LAOK, MONEY 09
payment"isusedbyMaconyinthissense,incontemporaryeveryday
usage, as wel as in contemporary economics,any money used to pay
Forpurchase isdescribedas ameans oFpayment,regardlessoFwhether
paymentis madeimmediateyorater.) !Fmoneyis used as ameans oF
circulation,thenthecommodityownerinitialyengagesinanactoFsale,
C-M.Hethensubsequentlymakesapurchase,andconsummatesMC.
!nthecaseoFmoneybeingusedasameansoFpayment,thesequenceis
reversed:hrstthecommodityownermakesapurchase,thenheengages
masales actto obtain themoneyFormeetinghispayment obligations.
AcquiringmoneyastheindependentmamFestationoFvalueisnowthe
mnctionoFthesale.
Finay, moneymnctions aswordmoneyonmewordmarket. On
thewordmarket,moneycanbeusedasameansoFcirculationinorder
to mediate a sae,as ameans oFpayment, For concudinga sale, oras
the universaly recognized socia materimization oFweath" [0aita/,
I :24) whennotusedForsaeorpayment,buttotransFerwealth6omone
countrytoanother(Forexampe,aFterawar).
!n 0aita/,Macassumesthatmoneyaways has to beied to a
particuarcommodity. DuringMac'sume,godpayedtheroleo|this
money commodity." ut even back then, itwas hardly thecase that
pieces oFgod were widey used in everyday commerce, smal sums
were paid with silver or copper coins, arger sums with bamotes."
ankoteswereoriginalyissuedbyindividuabanks,whichpromised
to honorthenotes ingod.Ultimatey, banknoteswereoyissuedby
state centrmbanks,which aso promised to honor the notes m gold.
Asarule,thecentrabankso|indivdualcountrieswerenotalowedto
print an arbitrary amountoFbamotes,butratherhad to ensure that
mebanknoteswerecoveredbyaproportionateamountoFgoldresees.
Coldwashardlycirculated,butthepapermoneyincirculauonactedas
arepresentationoFgod.
AttheendoF theSecondWodWar,ataconFerenceinrettonWoods,
NewHampshire,aninteationacurrencysystemwasagreeduponthat
wassbaseduponagodstandard.utonytheU.S.doarwascovered
bygold,thirty-hve doars correspondingtoanounceoFgold.Aother
currencieshadahxedexchangeratetothedolar.However,theobigation
70 AN NTKODUCTON TO KAKL MAKX'5 AI1AL
lO hOnOt dOat8 m _Od Wa8 nOl VaId lOt gtIValc IndIV1dua8 Ony lOt
8lalc Ccnlta DanX8. l lhc cnd Ol lhc 1 U8 Il had DcCOmc Ccat lhal lhc
ma88IVc amOunl Ol dOat8 m CItCualIOn had tcndctcd lhc COug1n_ Ol lhc
dOat lO _Od a hClIOn. l lhc Dc_InnIn_ Ol lhc 118 lhc _Od 8landatd
Wa8 lOtma1y aDOI8hcd a8 Wctc bXcd CuttcnCy cxChan_c talc8.
oInCc lhcn lhctc I8 nO On_ct any COmmOdIly lhal h1nClIOn8 al a
nalIOna Ot mlcDalIOna cVc a8 a mOncy COmmOdIly. ^OW mOncy I8
c88cnlI81y lhc gagct mOncy I88ucd Dy lhc 8lalc Ccnlta DanX8 and lhctc
I8 nOUn_ lOt WhICh lhI8 gagct mOncy C8n Dc tcdccmcd. Ll COut8c Onc
Can 8li Duy _Od WIlh lhI8 gagct mOncy Dul nOW _Od I8 _u8l anOlhct
COmmOdIly !Xc 8IVct Ot ItOn and nO On_ct gay8 lhc 8gcCIa tOc Ol a
mOncy COmmOdIly ncIlhct c_ay nOt Dy dclaul.
maO COud nOl Ima_Inc a CagIlab8l mOncy 8y8lcm cxI8lIn_ WIlhOul a
mOncy COmmOdIly Dul lhc cxI8lcnCc Ol 8uCh a COmmOdIly I8 m nO Way
a ncCc88aty COn8cQucnCc Ol hI8 8Day8I8 Ol lhc COmmOdIly 8nd mOncy.
IlhIn lhc hamcWOtX Ol lhc anay8I8 Ol lhc COmmOdIly lOD hc dcVcOgcd
lhc lOtm-dclcDInalIOn8 Ol lhc _cncta cQuIVacnl and lhc anay8I8 Ol lhc
cxChan_c gtOCc88 y:cd8 lhc tc8ul lhal COmmOdIly OWnct8 dO m laCl haVc
lO tcalc lhcIt COmmOdIlIc8 lO a _cncta cQuIV8cnl. ul lhal lhc _cnct8
cQuIV8cnl mu8l Dc a 8gcCIhC COmmOdIly Wa8 nOl gtOVcn Dy matx mctcy
a88umcd. hal WhICh 8cFc8 a8 a _cnctM cQuIVacnl [Whclhct an aClua
ghy8ICa COmmOdIly Ot mctcy gagct mOncy| CannOl Dc dclctmIncd al
lhc cVc Ol 8Imgc COmmOdIly CItCualIOn [lOt a mOtc cxlcn8IVc anMy8I8
8cc cIntICh 1 2|. LDy Whcn lhc CagIlaI8l CtcdIl 8y8lcm I8 laXcn
InlO COn8IdctalIOn [8cc 8cClIOn b.2 DcOW| dOc8 Il DcCOmc Ccat lhal lhc
cxI8lcnCc Ol a mOncy COmmOdIly I8 mctcy a hI8lOtICa1y ltan8IlIOnM 8lalc
Ol ahaIt8 Dul dOc8 nOl COttc8gOnd lO "lhc CagIl8I8l mOdc Ol gtOduClIOn
In Il8 Idca aVcta_c lhal matx 8Ou_hl lO anayZc [8cc 8cClIOn 2. 1 aDOVc|.
3.8eSeeto]theFetishismo]0ommoditiesandNone
hc hna 8cClIOn Ol lhc ht8l Chaglct Ol 0aita/I8 lIlcd "hc tcu8hI8m
Ol lhc LOmmOdIly and l8 ocCtcl. hc lctm "COmmOdIly lclI8h ha8
cn_Oycd a Cctlmn amOunl Ol gtOga_alIOn 8InCc maO8 lImc Dul I8 nOl
VALUE, LAOK, MONEY 1
awaysusedandunderstoodinawayreFerringtophenomenadealtwim
byMac.MacdidnotusethetermcommodiqFetish"todescribehow
peopleincapitaismplaceanundueimportanceupontheconsumption
oFcommodities,orthattheymakeaFetishoutoFparticularcommodities
thatseeasstatus symbols.Thetermaso does notreFer tomaking a
FetishoFbrandnames.Thereisnosecret"behindpossessingexpensive
commodinesasstatus symbosthatneedstobedeciphered.
!tisoFtenthecasethatthecommodiqFetishischaracterizedsoleyas
astateoFaBairsinwhichthesocialreationshipsbetweenpeopeappear
associalrelationshipsbetweenthings(therelationshipsoFthoseengaged
m exchange appearasavaue reationship between theproductsbeing
exchanged),sothatsocialrelationshipsbecome thepropertyoFthings.
utiFweleaveitatthat,thenFetishismappearstobemerelyamistake:
peope ascribe Faseproperties to the products oFtheir abor and Fai
to see thatinrealiq"a social relationship bemeenpeopleliesbehind
merelationshipbetweenthings.FetishismwouldthereForebeaForm oF
FaIseconsciousness"thatmereyconceaIsthereaIconditions."''!Fthat
werethecase,thenthisFaIseconsciousnessmustdisappearoncetherem
condinons have beenexpained. !n this reductiomstconception oFthe
commodiqFetish,importantpointsoFMarx's anaysis arelot. We w
thereForedealwithMarx'sargumentationingreatdetai.To oBerabetter
overvew,theFoowingisdividedintoetteredsections.
a. Onemusthrstposethequestion,wherecanwepinpointthesecret"
thatMacspeaksoFinthesectionheadingandthatheseekstodeci-
pher?MaccommenceswiththeFollowing.
A CommodIly 8QQc8r8 8l hr8l 8I_hl 8n cXltcmc!y oDVIou8 lrIVI8! lhIn_.
ul Il8 anagsisDtIn_8 oul lh8l Il I8 8Vcty 8lt8n_c lhIn_ 8DoundIn_ In
mcl8Qhy8ICm 8uDdclIc8 8nd lhco!o_ICm nICclIc8. (0aita/, I . I 63,cm-
Qh88I8 8ddcd]
Thecommodiqisthusonlyaverystrange"andmysteriousthing
not in terms oFeverydayperception, but as aresult oFthe analysis
72 AN NTKODUCT!ON TO KAKL MAKX'5 AI1A
[as rendered thus far). A tabe, for exampe, is an ordinary, sensous
thing. But as soon as it emerges as a commodity, it changes into a
thing, which t:nscdsensuousness"[0aita/,I . I 3).This transa-
tion is wrong, Mac iteray writes that as a commodity it is changed
into a sensuous extrasensory thing" [sinn/ich|etsinn/ichesDing).
To our everyday perception, a tabe is above a particuar use
vaue. As a commodity, it so has a particmar vaue. Both aspects are
not at mysterious to our spontaneous, everyday consciousness.
And the notion that the magnitude of vue depends upon the vo-
ume of expended abor-time may be accepted or contested, but the
circumstance iuef is in no way mysterious. The sensuous extrasen-
sory" character of me commodity is 6rst made cear by anysis: the
anysis shows that the vue-obectivty of the commodity cannot be
epressed within the commodity itsef [and is therefore extrasen-
sory," that is, a spectr obectivty") but ony in another commodity
that eectivey acts as a direct embodiment of vaue. The substance
of vaue, abstract abor, was demonstrated to be ust as eusive as the
obectivty of vue. The anaysis has thus unearthed a number of dis-
concerting 6ndings.
b. Mac then asks, Whence, then, arises the enigmatic character of the
product ofabour, as soon as it assumes the form of commodities,"
md formuates the foowing answer:
L!c8t!yIl8tI8c8uomthI8lotmIl8c!l.3hccQu8!Ityollhc KInd8 olhum8n
8Doutl8Kc8on8Qhy8IC8!lotmmthccQu8oD_cClIVItyollhcQtoduCt8ol
8Dout88V8!uc8thcmc88utcolthccXQcndItutcol hum8n!8Dout-QoWct
Dy Il8 dut8lIon l8Kc8 on thc loD ollhc m8_nItudc ollhc V8uc ollhc
QtoduCl8ol!8Dout8ndhn8!!yUctc!8lIon8hIQ8DctWccn lhcQtoduCct8
WIlhInWhICh lhc 8oCI8! Ch8t8ClctI8lIC8 olthcIt!8Dout8 8tc m8nIlc8lcd
l8Kc onlhclotm ol88oCI8!tc8lIonDclWccnlhcQtoduCl8 ol!8Dout.
3hc my8lctIou8 Ch8t8Clct ollhc CommodIty-lotm Con8I8t8 Uctclotc
8ImQyInlhc l8Ct,lh8llhc CommodIly tchcCt8 thesocia/chanctetistico[
men'sown/a/outo/ectioechatactetuticso[thetoducto[/a/outthem-
se/oes,Uthesocio-natuta/tqettiesgese//cha]/icheNatuteigcha]]
VALUE, LAOK, MONEY
o[thethings. Henceita/otgectsthesocia/te/ationo[thetoducento
thesum tota/o[m/outU asocia/te/ation, which exists aatt]omand
outsidethetoducets.(0aita/,1: JU9UJcmQh88I88ddcd]
73
Inevery sociaIlorm olproductioncharacterizedby adivision ol
Iabor,peopIestandinaparticuIarsociaIreIationshiptooneanother.
In commodity production, this socia! reIationship between peopIe
appearsas arelationshipbetweenthings.itisnoIongerpeopIewho
standin aspecihc reIationsmpwth oneanother,but commodites.
FeopIe`ssociaIreIationshipsthereloreappearto themassocio-nat-
uraIproperties"oltheproducts olIabor.whatMarmeans can be
demonstratedusingtheexampIeolvaIue. ontheonehanditiscIear
that vaIue"is not anaturaIpropertyolthingsIikeweightorcoIor,
but onthe other,lorthe peopIe inacommodity-producingsociety,
itseemsasilthingsinasociaIcontextautomaticaIIypossessvaIue"
andthereloreautomaticIyloIIowtheirownob]ectiveIawstowhich
humans must submit. Under the conditions olcommodityproduc-
tion, things takc on aIleoltheirown,lorwhichMaronIyhnds a
suitabIecomparisonin me mistyreaIm olreIigion". in reIigion,it
is theproductsolthehuman mindthattake onaIleolt
_
eir own,
whereas in the worId olcommodities it is the products olmen`s
hands"thatdoso.
C8 thI8thcctI8hI8mWhICh8tl8Chc8Il8c!llo thcQtoduCl8ol!8Dout88
8oon88 thcy8tcQtoduCcd 88 CommodIlIc88nd I8 thctclotc In8cQ8t8D!c
uomlhc QtoduCtIon olCommodIlIc8.(0aita/,J : J UJ]
c. Illetishism attaches itseIl`to commodities,thenitmustbesome-
thing morethansimpIy acase ollaIse consciousness, the letishism
must aIso express an actuaIsituanon.And,underthe conditions ol
commodity production,toducets d notte/ateto oneanothetin a
ditect,socia/ua, theyhrstenterintoareIationshipwithoneanother
during the act olexchangethrough the products oltheir Iabor.
ThattheirsociareIationshiptooneanotherappearsasasociaIreIa-
tionship between things is therelore not at aII miBusion.To those
74 AN NTKODUCTON TO KAKL MAKX'5 AI1A
engagedinexchange,writesMarx,thesocirelationsbetweentheir
private abours appear as what they are, i.e.they do not appear as
directsocialrelations betweenpersons m their work, but ratheras
material ding/ich relations between persons and socia relations
betweenthings"[0aita/,I : I ,emphasisadded).
ThatthingshavesociacharacteristicsunderthecondinonsoFcom-
modityproductionisinnowaywrong.Watiswrongistheassum
tion that they possess these social characteristics automatica/(,m
ecetsocialcontext.FetishismdoesnotconsistoFproductsoFlabr
beingregarded as obects oFvauein bourgeois society, products
oFlaborthat are exchanged are in Fact obects oF vauebut this
obectivItyoFvmueisconsideredaseF-evidentandnature-imposed
necessity"[0aita/,I : I 75).
d. WatmustinterestcommodityownershrstandForemostisthevalue
oFtheircommodities.Thesevauesaretheobective expressionoFa
socia/connectiontoduced| humans,|utnotttansatenttothem.
%cn do nol lhctclotc DtIn_ lhc QtoduCl8 ollhcIt !8Dout Inlo tc!8lIon
WIlh c8Ch olhct 88 V8!uc8 DcC8u8c lhcy 8cc lhc8c oD_cCl8 mctc!y 88 lhc
m8lctIm Inlc_umcnl8 ol homo_cncou8 hum8n !8Dout. 3hc tcVct8c I8
lDc: Dy cgu8lIn_lhcIt dIhctcnl QtoduCl8 lo c8Ch olhct In cXCh8n_c 88
V8!uc8lhcycgu8lc lhcItdIhctcnlKInd8ol8Dout88hum8n!8Dout. Jbe
dothiswithout/eingawateo[it. (0aita/,J: 1UU,cmQh88I88ddcd]
Commodityproducersproducetheirsociaconnecnonprecisey
notas aresult oFaparticularawareness concening the connection
betweenvaueandlabor,butindependentoF suchawareness.Itwoud
thereForebecompetelywrongtounderstandMac'stheoryoFvalue
as caiming that people exchange their commodities according to
eirvaluesbecausetheyknowhowmuchlaboriscontainedwithin
theindivIdualproducts.ItisMac'sintenttoshow thathumans act
uithoutbeingawareoFtheconditionsoFtheiraction.
e. ThisunconsciouslyproducedFetishismisnotsimpyastateoFFalse
VALUE, LAOK, MONEY 75
COn8CIOu8nc88DutI8thcIQO88c88c8m8tcIIMlOICc.hcthcImyIndI-
VIdu8y cXQcndcd 8DOI I8 IcCO_nIZcd 88 8 COmQOncnt Olthc tOt8
8DOI Ol8OCIcty 8nd tO Wh8t dc_IccI8 nOt InlOD8tIOn QIOVIdcd tO
mcdIIcCtyDy8OCIcty DutDythcVMucOlmyCOmmOdItyIncXCh8n_c.
ndmyQIO8QcIItyOImI8lOItuncdcQcnd8uQOnthI8InlOD8uOn.ut
thc m8_nItudc8 OlV8ucOlCOmmOdItIc8
VQConlInuM y IndcQcndcndyolhcWI!otcknoWcd_c8nd8ClIon8o
lhccXCh8n_ct8. Theitownmooementwithinsocieghas [otthemthe[o
o[amooementmad/things, which[at ]om/eingundettheitcontto/,
in[actcontto/them. (0aita/,1 : 1U9~1cmQh88I88ddcd)
hcV8ucOl COmmOdItIc8I88ncXQIc88IOnOl8nOVcrhcmIn_8OCI8
IntcI8CtIOnth8tC8nnOtDcCOntIOcdDyIndIVIdu88.1n8COmmOdIj-
QIOduCIn_8OCIcty QcOQc [8Olthcm|8IcundcIthcCOntIOOlthIn_8
8ndthcdcCI8IVc Ic8tIOn8 OldOmIn8tIOn 8Ic nOtQcI8On8Dut"OD_cC-
tIVc[sach/ich).hI8ImQcI8On8OD_cCtIVc dOmIn8tIOn,8uDmI88IOnIO
"InhcIcntncCc88ItIc8 dOc8 nOtcI8tDcC8u8c thIn_8 thcm8cVc8 QO8-
8c88 Ch8I8CtcII8tIC8 th8t _cncI8tc 8uChdOmIn8tIOn OI DcC8

8c 8OCIM
8CtIVIty ncCc88It8tc8 thI8mcdI8tIOn thIOu_h thIn_8, Dut OmyDcC8u8c
eotemtetothingsinaatticu/atuaascommodities.
L h8t thI8 OD_cCtIVc dOmIn8tIOn[sach/icheHescha])8nd thc OD_cC-
tIhC8tIOn Ol8OCI8Ic8tIOn8hIQ8 tO QIOQcItIc8 OlthIn_8I8 8Ic8utOl8
8QcCIhCDch8VIOIOlhum8n8I8nOttI8n8Q8IcnttOcVcIyd8yCOn8CIOu8-
nc88.OIthI88QOnt8ncOu8COn8CIOu8nc88"lOIm8WhICh8t8mQQIOd-
uCt8 88 COmmOdItIc8. . . QO88c88 thchXcd Qu8Ity Olnatuta/]otmso]
socia//q"[0aita/, . I 8, cmQh88I88ddcd|.1n8ddItIOntOcVcIyd8y
COn8CIOu8nc88 C888ICM QOItIC8 cCOnOmy [8nd mOdcD ncOC888I-
CM cCOnOmIC8| 8DOI8 undcI thc dcu8IOn Olthc8c lOIm8. 1OWcVcI
thI8 dcu8IOnI8 nOt thc Ic8ut Olthc 8uD_cCtIVc dcu8IOn OlIndIVIdu8
cCOnOmI8t8.%8IXcmQh88IZc8th8tthI8dcu8IOnI8It8clD88cduQOn8
8QcCIhCo|ecticit8ndthcIclOIch88 8CcIt8InncCc88Ity.
3hcC8lc_otIc8oDout_coI8cConomIC8Con8I8lQtcCI8c!yooD8olhI8
70 AN !NTKODUCT!ON TO KAKL MAKX'5 AI1A
kInd. 3hcy 8tc[otmso[thoughtWhICh 8tc socia/g oa/id, andthetgote
o/ectioege//scha[/ichg/tige, M8oo/ektioe0edanken[otmenj,[otlhc
tc!8lIons olQtoduClIon Dcon_In_ lo thI8 hI8totICM!y dclctmIncd modc
ol8oCI8QtoduCtIon I.c. CommodIly QtoduCtIon. (0aita/, 1: 1U9 cm-
Qh88I88ddcd]
hc8c "OD_cCtIVc lOrm8 Ol thOu_ht COn8tItutc Wh8t IndIVIduM
cCOnOmI8t8 QcrCcIVc 88 8 m8ttcr OlCOur8c tO Dc thc immediate, o|i-
ouo|ectOlQOItICM cCOnOmy. 1n thI8 Q8888_c ItDcCOmc8 Cc8rWh8t
%8O mc8nt Dy "CrItICM cXQO8 Olthc 8y8tcm OlthcDOur_cOI8 cCOn-
Omy In hI8 cttcrtO L888Mic [QuOtcd In 8cCtIOn 2.2): thc ctitiqueo]
|outgeois categoties I8 nOt 8D8tr8Ct cXcrCI8c In thc QhIO8OQhy 0l
8CIcnCcDutI8 r8thcrIn8cQ8r8DchOm It.
hc V8rIOu8 8ChOO8 OlQOItICM cCOnOmy dO nOt cn_8_c IndcD8tc
COnCcDIn_thc ]otmdetetminationsOlthcIr8uD_cCtm8ttcrDutr8thcr
COnCcDIn_ thc content o]these]otm-detetminations. 1n COntr88t
%8Orcndcr8 8 mnd8mcntM CrItIQuc8CrItIQuc8QQIcd tO thc lOun-
d8tIOn8OlDOur_cOI8cCOnOmIC8: %8OCrItICIZc8lOrm8 d8t8rcMW8y8
tesuosedDy DOur_cOI8cCOnOmIC8:
o!IlIC8 cConomyh88 Indccd 8n8!y8cd V8uc 8d Il8 m8_nItudc, hoW-
cVctInComQ!ctc!y8ndh88unCoVctcdthc ConlcnlConCc8cdWIthInthc8c
loD8. ul Il h88 ncVct onCc 88kcd lhc guc8lIon Why thI8 Conlcnl h88
888umcd lh8tQ8tuCu!8tlotm, lh8l I8 lo 88y Why !8Dout I8 cXQtc88cd In
VMuc8ndWhythcmc88utcmcntol!8DoutDyIt8dut8lIonI8cXQtc88cdm
lhcm8_nIludcolthcVMucollhcQtoduCl.(0aita/,1: 11J~1+]
cC8u8cV8uc-OD_cCtIVIty[%ttgegenstnd/ichkeit)I88rc8utOl Vcry
8QcCIhCDch8VIOrDyhum8nDcIn_8n8mcyQrOduCIn_thIn_8QrIV8tcy
8nd cCh8n_In_ thcm thI8 COrrc8tIOnI8nOt 8QQ8rcnttO cIthcr 8QOn-
t8ncOu8cVcryd8y COn8CIOu8nc88 OrtOQOItIC8 cCOnOmI8t8. Oth8cc
In thc COmmOdIty lOrm 8 "8OCIO-n8tur8 QrOQcrty [gese//cha]/iche
Natuteigenscha]).1n thI8 rc8QcCt DOth cVcryd8y COn8CIOu8nc88 8nd
thc 8CIcnCc Ol cCOnOmIC8 rcm8In ImQrI8Oncd wIthIn th:8 lctI8hI8m.
8 %8rXm8Kc8 thI8lctI8hI8m rcCO_nIZ8DchcnOtOmyQrOVIdc8 thc
VALUE, LAOK, MONEY
loundatonsloracritiquc olconscousncss and thchclds olknow-
cdgc,hcmakcsclcarthatsocrcabonshpsmustnnoway rcmain
thcwaythcyarc.thcrulc olvaucovcrhumanssnotanaturawol
socicty, butthcrcsutolavcryspcchcbchaviorbyhumans,andthis
bchaviorcan-at lcast n principc-bc changcd.A socicty wthout
comodtcsandmoncysconccvabc.
g. cbshsmsnotlmitcdtothccommodty. ltsasoinhcrcnttomoncy.
Moncyas an indqendentmanlcstaton olvucposscsscs a spcc
lomolvuc.tcxstsnthclormolthcgcncracquivacnt othcr
commodtcsdonot.Jhcspcccommodty[orpcccolpapcr)that
mnctonsasmoncycanonymnctonasmoncy|ecause othcrcom-
modticsrcatctotasmoncy.Howcvcr,thclormolmoncyappcarsto
bca"socio-naturpropcrty"olthiscommodity.
Yh8l 8QQc8t8 lo h8QQcn I8 nol lh8l 8 Q8tlICu8t CommodIly DcComc8
moncyDcC8u8c8olhct CommodIlIc8 cXQtc88 lhcIt V8uc8 In IlDulon
lhc Conlt8ty lh8l8olhct CommodIlIc8 umVct88y cXQtc88 lhcItV81uc8
In 8Q8tlICu8tCommodIly DcC8u8c Il I8 moncy. Temooemntthtough
whichthisncesshas/eenmediatedoanuhin itowntesu/t,/eaoingno
ttace/ehind.YIlhoul 8ny InIlI8lIVc onlhcItQ8tllhcCommodIlIc8 hnd
lhcIt o V8uc-Com_ut8lIon tc8dy lo h8nd, In lhc lotm ol8 Qhy8IC8
CommodIly cXI8lIn_ oul8Idc Dul m8o 81on_8Idc Ucm. (0aita/, J: o1
cmQh88I88ddcd]
Whatappcs to thc commodity so appcs to moncy. onlyas
arcsutolthc spccihc bchavor olcommodityowncrs docs moncy
posscssitsspcchcpropcrtcs.utthsmcdiationsnolongcrvsblc,
it "vanishcs."or that rcason, it sccms as lmoncy posscsscs thcsc
propcrtcsnandol itsclL!nthccascolmoncy,whcthcritisamoncy
commodty or a pccc olpapcr, a soca rclationshp appcars as an
ob]cctivcpropcrtyolathing.And]ustaswththccommodity, soci
actors donothavctobcawarc olthcmcdiatngrcatonin ordcr to
act. "Anyonc can usc moncy as moncy wthout ncccssariy undcr-
standngwhatmoncyis"[Teotieso]Suq/usla/ue,MLCW32:J48).
AN !NTKODUCTON TO KAKL MAKX'5 AI1A
h. Jhc"absurdty" l ettcktheit [0aita/, I: I 9) otthsrchcatonot
socarcatonshps s ncrcascd n thc casc otmoncy. ltproductsot
aborarcturncdntocommodtcs,thcyacqurcavaluc-ob]cctvityn
addtontothcrphyscaob]cctvtyasuscvaucs.Jhs vauc-ob]cc-
tvity,aslustratcdabovc,sa"spcctraob]cctvty,"apparcnty]ustas
ob]cctvc as uscvaucbutnoncthclcssnottangbcorvsbcwthn
thcndvduob]cct.utmoncynowcountsasanindeendentman-
tcstatonotvuc.Whcrcas commodtcsarcuscmob]cctsthataddi-
tiona/(havc thcob]cctvcstatus otbcngvalucs,moncy sditect(a
"vauc-mng"[ettding).nthchrstcdtonotvolumcI ot0aita/,
Marxmakcsthspontclcarusngancccxampc.
tI8 88 I, In8ddItIonto !Ion8 tI_ct8h8tc88nd 8 othcttcm!y cXI8tIn_
8nIm8!8 WhICh to_cthcr Con8tItutc thc V8tIou8 8mIIc8 8QcCIc8 8uD-
8QcCIc8 ctC. othc 8nIm8 KIn_dom theanima/Wou!d 8!8o cXI8t thc
IndIVIdu81 InC8tn8tIon othc cntItc 8nIm8! KIn_dom. [%L .J:J1
cmQh88I8InotI_In8!]
Jhat"thcanma"waIksaboutamongthcvarousconcrctcanmas
snotonytactuaympossbc,tssoogcalnonscnsc.thcabstract
catcgorysplaccdatthcsamccvclasthcndvdualshomwhchthc
abstractcatcgorys dcrvcd.utmoncy s thc rc cstcncc otths
absurdty.
. nbourgcossoccty,pcoplc'sspontancousconscousncsssuccumbs
tothctctshsmotthccommodtyandmoncy.JhcratonaItyotthcr
bchavors aways a sort otratonaltyuithinthe]nmeuotkset|
commodittoduction.ltthc ntcntons otsoca actors [thatwhch
thcy "know") arc madc thc pont otdcparturc otanyss [as s thc
casc n ncocasscal cconomcs and varous socologc thcorcs),
thcnthat whch ndvdus "don'tknow," thchamcworkthatprc-
condtons thcr thought and actvty, s bankcd out otthc anyss
homthcvcrystart.!rocccdnghomthsconsdcraton,notonlycan
wc crtczc a consdcrabc porton otthc toundatons otbourgcos
cconomcsandsocoogybutaso apopuarargumcntotwor!dvcw
VALUE, LABOK, MONEY 79
Manism.namclythatthcrccxistsasocialsub]cct[thcworkingclass],
which, on thc basis olits particular position in bourgcois socicty,
posscsscs asecia/ity to scc through socia rclationships.Many
rcprcscntativcs oltradibonal Manism cxprcsscd thc nccd to "takc
thc standpoint olthcworkingclass"inordcrtoundcrstandcapit-
ism.utindoingso,thcyovcrlookcdthclactthatworkcrs[justc
capitalists]inthcirspontancous consciousncssarcalsosub]ccttothc
dclusionsolthccommoditylctish.nthcncxtlcwchaptcrs,wc'lscc
thatthccapitaistmodcolproductionbrings lorth othcrinvcrsions
andabsurdibcstowhichbothworkcrsandcapitalistssuccumb.nc
cannot mcrclorc spcak olatici/eged position olpcrccption occu-
picdby thcworkingclass-butoncso cannotmakc thcclaimthat
lctishismisinprinciplcmpcnctrablc.
+. LQit bUtQU8 UC nU LXQOittiOn
4. 1 2eNatketEconomand0aita/
2eanition]omNoneto0aita/"
1nlhcht8llhtccChQlct8Ol0aita/,%txdc8WIlhlhcCOmmOdIlynd
mOncyndI8 cxQbCIllhlCQIlMdOc8nOlyclcnlctlhcQICtutc.hI8h8
cd 8Omc ulhOt8 lO thc undct8lndIn_thl lhc8c ChQlct8 dcQICl l
VctyhI_hcVcOlD8ttClIOnQtcCQIl8I8l8OCIclyOl"8ImQcCOmmOd-
ItyQtOduClIOnmOdcOl QtOduCtIOnInWhIChCOmmOdIly- ndmOncy-
tclIOn8dOmInlcDulWIlhnOOtOnyVctyundcVcOQcd,CQIl8.hI8
nOtIOn Qtc8uQQO8c8 lhl COmmOdItIc8 tc cxChn_cdCCOtdIn_ lO lhcIt
[DOt-| Vuc8 DcCu8c lhc QtOduCct8 tc Wtc Ollhc QunlIty OllhcIt
OWn DOt cxQcndIlutc ndthl OlthcItQttnct8IncxChn_c. hcmO8l
QtOmncnl tcQtc8cnllIVc OlthI8 VIcWW8tIcdtICh n_c8WhO lcW
yct8 llct %O8 dcthlOtmulcd IlIn h18 QQcndIx lO thc lhItd VO-
umcOl0aita/ndlhctclOtcInucnCcdmny%txI8l8.'"ullhI8IdcI8
QtODcmlICInmnytc8QcCl8:
8 hutotica/88ctlIOn: cxChn_c h8 DccnQtCuCcdlOtthOu8nd8
Olyct8 nd COIn mOncy h8 cxI8lcd l c8l 8InCc 500 B.C.E. Dul COm-
mOdIty- nd mOncy-tclIOn8 In QtcCQIlm8l ct8 Wctc Wy8 "cmDcd-
dcd In Othct tclIOn8 OlQtOduCtIOn lhcy Wctc ncVct COmQtchcn8IVc
82 AN lNTKODUCTON TO KAKL MAKX'5 AI1A
and thc cCOnOmy Wa8 nOl dOm:natcd Dy thcm. hI8 I8 Ony lhc Ca8c W:th
thc 8QIcad Ol thc CaQIl8I8l mOdc Ol QIOduCl:On.
P8 a theotetica/COnCcQl: It I8 Q:cCI8cy %aD8 Intcnl tO 8hOW that lhc
dclcImInat:On Ol cxChan_c lhIOu_h V8uc dOc8 nOt Ic8t uQOn a COn8CIOu8
aQQIaI8a Ol thc 0DOI-t:mc cxQcndcd thal thO8c cn_a_cd In cxChan_c dO
nOt KnOW Whal lhcyIc dOIn_ Dul IathcI lhcII 8OCIa COhc8IOn I8 COn8um-
matcd "DchInd lhcII DaCk8 [bcc 8cClIOn 5.8, d and c aDOVc|.
P8 an ex/anationOl lhc hI8l lhIcc ChaQtcI8 Ol 0aita/thI8 mI8undcI-
8tand8 Whal Il I8 lhal %aD dcQICl8: "8ImQc CIICualIOn. y thI8 %aD
undcI8taDd8 thc CIICuIatIOn Ol COmmOd:ty and mOncy a8 a lOIm Ol 8OCI8
InlcIaClIOn dOmInalIn_ lhc cnt:Ic cCOnOmyDut hOm a quaIIhcd and Ic-
8tI:Clcd V1cWQOInl: %aIx aD8lIaCt8 hOm thc cxI8tcnCc Ol CaQIl8. %aD
I8 nOl anayZIn_ QIcCaQIl8I8t IcatIOn8 lhal cx:8lcd al 8Omc t:mc :n lhc
Qa8l Dut IalhcI CaQItaI8l COnlcmQOIaIy COndIt:On8 [thc hI8l 8cntcnCc Ol
0aita/QO:Dt8 lhI8 Oul a8 cmQha8IZcd aDOVc| WhIc dI8Ic_aId:n_ CaQIla.
hal CaQIt0 I8 dI8Ic_aIdcd I8 nOl an aIDIltaIy WhIm Ol lhc lhcOIclICI0D
and It I8 08O nOl a dIdaCtIC COn8IdcIalIOn. P 8QcCIhC a8QcCl Ol Ic8Ity I8
cxQIc88cd In th:8 aD8lIaCtIOn. 8ImQc CItCuat:On aQQcaI8 "a8 lhat WhICh
I8 ImmcdIalcy QIc8cnl On thc 8uImCc Ol DOuI_cOI8 8OCIcty [ 0tundtisse,
MLCW, 28: I8), lhc cCOnOmy lOI a Intcnt8 and QuIQO8c8 8ccm8 tO
COn8I8l Ony Ol aCl8 Ol Duyn_ and 8cIn_.
Pt hI8t @anCc thc cCOnOmy 8ccm8 lO la InlO thIcc aI_c 8cQaIatc
dOmaIn8:
I . hc 8QhcIc Ol QtOduClIOn: al thc Ic8QcCt:Vc cVc Ol lcChnOO_:Ca
QO88:D::ty _OOd8 aIc QIOduCcd and 8crICc8 IcndcIcd
2. hc sheteo]citcu/ation:_OOd8 and 8crICc8 aIc cxChan_cd u8uay
nOl dIIcCUy Dul lOI mOncy
5. hc shete o] consumtion _OOd8 and 8crICc8 aIc COn8umcd
cIthcI Dy IndIV:dua8 lOI thc QuIQO8c Ol ImmcdIatc 8urIVa [8uCh
a8 _IOCcIIc8 COlhIn_ clC.| OI WIthIn lhc QIOCc88 Ol QIOduCtIOn a8
a mcan8 Ol QIOduClIOn [8uCh a8 maChInc8 OI IaW matcIIa8| lO maKc
mOIc QIOduCt8.
CAFTAL, 5UKFLU5 VALUE, AND EXFLOlTATON 83
nthc proccss,thcpcrccptoncmcrgcs thatthcsphcrc olconsump-
tonhassolclytodowththcnccdsolconsumcrsandthcsphcrcolpro-
ducuonwth purcy tcchnca possbltcs,so thatonly crculaton rc-
mnsasthcactuasphcrcolcconomcactivity.
Jhcrcductionolthccconomytothcsphcrc olcrcuatonhas con-
sdcrlc conscqucnccs. Jhc sphcrc olcrculaton s onlyconccrncd
wthbuyngandsclng,wthtransactions,thcrclorc,nwhch-atlcast
nprincpc-pcoplclacccach othcras hccand cqualpartncrs,andn
whch,nsolar as thc commodtcscxchangcdhavc thc samcvuc,no-
body s llccccd, robbcd, orcxplotcd. !lthc pcopc arc n lact not so
cqua,bccausc,lor cxamplc,onc pcrson owns alot and thc othcrpcr-
sonownsvcrylttc,thcnthatmaybcarcgrcttabccrcumstancc,butt
docs notcountaganstthc"markctcconomy." sparitcsnowncrshp
havc norcalthcorctical rclcvanccn thcmanylbcra thcorcs thatsng
thcprascsolthcmarkctcconomy. Jhcyappcarto bcascxtrancousto
thcproccssolbuyngandsclling,andthcrclorcto thcmarkctcconomy
as,lorcxamplc,thcphyscanhrmtcs olthcpartcpantsncxchangc.
rom ths pcrspcctvc, thc "markct" appcars to bc a ncutr cntity lor
thc dstrbuton olgoods and thc satslacton olnccds, as an cmccnt
[and complctcly non-burcaucratc) nsttuton lor thc transmsson ol
nlormaton conccrnng what s nccdcd, whcrc, and n what quantty.
Accordngtothspcrspcctvc,lthcnstitutoncalcd"thcmarkct"docs
notmnctonsowcl,thscanonybcthcrcsutolunlortunatcmargna
condtonsorcxtcrnaldsturbanccsthathavctobcrcmovcdbythcstatc.
NotonlyssuchmarkctcuphoraprcscntcdasincontrovcrtibIctmthin
[amost)cvcrycconomcstcxtbook,unvcrsitycconomcsdcpartmcnts,
and thcbusncssscctonsolthc argc daiy ncwspapcrs, altcr I989,t
wasalso adoptcd n dhcrcnt varatons bymany lomcr cltsts. Jhc
markct and capitalwcrc somctmcs cvcn]uxtaposcdas downright op-
posng lorccs, and potca conclusons drawn accordngy. whcthcr
n thc lorm olthc dcmand to curb thc powcr ollargc corporatons to
hcpmplcmcntthc bcnchcaI chccts ol"thcmarkct"ornthc lom ol
"markctsocasm,"nwhichcaptalstbusncsscswoudbcrcplaccdby
workrs'coopcratvcsthatwoudthcnbrskycompctcwthoncanothcr
"onthcmarkct."
84 AN !NTKODUCTON TO KAKL MAKX'5 A1A
OO Whclhcr thc m8rkct 8nd C8QIl8 mcrcy cXI8tIn 8ncXlcD8 OO8c
rc8tIOn8hIQ, Or Whclhcr thcrc I8 8n InlrIn8IC ncCc888Iy COnncCtIOn Dc-
tWccnlhclWOI8 thcrclOrc nOtmcrcy8n8C8dcmICQuc8lIOn.b8thcrthc
8n8Wcrh88 dIrcClQOItIC8COn8cQucnCc8.
1llhc CIrCu8tIOn OlCOmmOdItIc8 8nd mOncy dcQIClcd In thc hr8l
thIcc Ch8Qlcr8 Ol0aita/I8 not8OmcthIn_ 8cl-COnt8Incd 8nd IndcQcn-
dcnlOlC8QIl8[88 cXQrc88cdDy %8rX In hI8 u8c Ollhc Qhr88c"8uIl8Cc
tO dc8CrIDc 8ImQcCIrCu8lIOn|lhcnthI8 dcQcndcnCcmu8l8rc8dym8kc
Il8cllct.b8thcr8Im8rtO lhc rc8lIOn8hIQDctWccn mcCOmmOdIly8nd
mOncy 8n InlIIn8IC ncCc888ry COnncCtIOn DclWccn mOncy d C8QIt8
mu8tDcrcVcacd.
Lctu88hOIlyIcC8QItu8tclhrccc88cnlI88lcQ8InthcCOur8cOldcQIC-
tIOnOlthcCOmmOdIly8nd mOncy:
1. hc COmmOdIly W88 8n8yZcd. 1l Qrc8cnl8 It8cl88 h8VIn_ 8 lWOlOd
n8turc: 88 8 u8c V8uc 8nd 88 V8uc. 1l8 V8uc-OD_cClIVIly luD8 Out lO
Dc 8OmcthIn_8QcCIM: IlI8 8Qurcy 8OCI8 Ch8r8CtcrI8tICWhICh I8 nOl
Inhcrcnt lO 8n IndIVIdu8 COmmOdIty Dut OnycXI8l8 88 8 common
QrOQcrty OlCOmmOdItIc8 lh8t 8rc cXCh8n_cd [hcnCc thc "8QcClrM
Ch8r8CtcrOlVMuc|.
2. Or thI8 8QcClr8V8uc lO DcCOmct8n_IDcItrcQuIrc8 8nindeendent
m8nIlc8t8tIOn. 1tODl8In8 thI8 In mOncy. %Oncy I8 lhcrclOrc nOl 8uQ-
Qcmcnt8 tO lhc WOId OlCOmmOdIlIc8 Or 8 mcrc cXQcdIcnl mOncy
I8 ncCc888rytOcXQrc88 lhcVMucOlCOmmOdItIc8tO COmQrchcn8IVcy
rc8tc COmmOdIlIc8 tO Onc 8nOthcr 88 V8uc8 [hcnCc lhc Ch8r8CtcrIZ8-
lIOnOl%8D8 lhcOryOlV8uc 88 8"mOnct8Iy thcOIyOlVMuc|.hI8
88O mc8n8 lh8t COmmOdIly QIOduCtIOn 8nd mOncy 8Ic In8cQ8r8Dc.
LncC8nnOt88 8Omc 8OCI8I8t8 thOu_ht8DOI8hmOncyWhIc rcl8In-
In_QrIV8lcCOmmOdIjQrOduClIOn.
5. %OncyI8 8nIndcQcndcntm8nIlc8l8tIOn OlVMucDul88 lhc mc88urc
OlVMuc8 8nd 88 thcmc8n8 OlCIrCu8lIOnItdOc8 nOt8QQc8r88 8uCh
mOncy 8ctc8 hcrc 88 8 mcrc cXQcdIcnt. Lny88 8 unIty Olthc m8_-
nItudc OlV8uc 8nd mc8n8 OCIrCu8lIOn ["mOncy 88 mOncy| dOc8
CAPTAL, 5UKPLU5 VALUE, AND EXPLOTATON 85
mOnCy DCCOmC8nIndCQCndCnl m8nIlC8t8tIOn OlVMuC. 1lI8 nOl Ony
8n IntCtmCdI8ty th8t COn8l8nly dI88QQC8t8 [In lhC C88C OllhC mC8n8
OlCItCu8lIOn| Otlh8tdOC8ntCVCnh8VCtO DCQhy8ICMyQtC8Cnl[88In
thC C88C OllhC mC88utC OlV8uC8|IlnOWDCCOmC88DCndInIt8CL nOl
_u8tca/ue,Dul thC indqendent8ndCOn8t8nt m8nIlC8l8tIOn OlV8uC
mOnCy I8lO DCtCl8InCd8nd mulIQICd.
mOWCVCt 88 lhC C88C OlhO8tdIn_8hOW8lhCIndCQCndCnCC 8nd Im-
QCtI8h8DIIlyOlmOnCyI8:mItCd:IlmOnCyI8WIlhdt8WnhOmCItCu8tIOn
lO DC hO8tdCd IlulIm8tCyDCCOmC8 8 u8CC88 OD_CCt.utIlItI8 lhtOWn
IDtO CItCu8lIOnmC8DIn_IlIlI8u8Cd tO QutCh88C COmmOdIlIC8lhCIndC-
QCndCntm8nIlC8l8lIOnOlV8uCI8O8t.
IdIn 8ImQC CItCu8lIOn mOnCy I8 8n :DdCQCndCnt 8nd dutMC
m8nIlC8t8lIOn OlVMuCDulthI8 IndCQCndCnCC 8nd dutMIbtyI8 nOWhCtC
tO DC 8CCn Il C8nnOt tC8y CxI8l 8t thC CVC Ol8ImQC CItCu8lIOn. 1lIt
u lhCtClOtC COttCCl th8tWIthIn 8ImQC CItCu8tIOn lhC cI8lCnCC OlCOm-
mOdIlIC8 nCCC88It8tC8thC CxI8lCnCC Ol8nIndCQCndCnlCxQtC88IOnOlV8-
uC [mOnCy| Dut thI8 IndCQCndCnCC OlVMuC C8nnOt cI8t WIlhIn 8ImQC
CItCu8tIOn Il lhu8 lOOW8 lh8l 8ImQC CItCu8tIOn C8nnOl DC 8OmClhIn_
IndCQCndCnl. b8thCtItmu8l CxI8l 88 8 mOmCntWIthIn 8nd tc8ul Ol8n
undCtyn_QtOCC88n8mCylhCC8QIl8I8lQtOCC88 OlVMOtIz8tIOn88w
8OOnDC8hOWn.
1lmOnCy I8 In l8Ct 8n IndCQCndCnl 8nd dut8DC CxQtC88IOn OlVMuC
thCn It mu8l CntCt IntO lhC QtOCC88 OlCItCu8lIOn Il C8nnOl CxI8l 8CQ8-
t8tCyDul 8l thC 88mC lImC Il C8nnOt O8C It8 IndCQCndCnCC 8nd du-
tM:Ity 88 I8 thC C88C WIlh thC 8Cl Ol8ImQC QutCh88C %L wlh lhC
8uD8CQuCntCOn8umQuOn OllhC COmmOdIty. hCIndCQCndCnCC8nd du-
t8DuItyOl V8uCI8ODy888utCdWhCnmOnCyCOn8 8tC8lhCmOVCmCnt
%L%. ut thI8 mOVCmCntlhC QutCh88C Ol8 COmmOdIty 8Dd thC
8uD8CQuCnl88C OlthI8 COmmOdIly lOtlhCIdCntIC88umOlmOnCydOC8
nOt yICd 8ny 8dV8nl8_C. 8dV8nt8_C I8 Ony _8InCd W1lh thC mOVC-
mCnl %L%WhCtC %'I8 _tC8lCt lh8n %. 1n lhI8 mOVCmCnl [%8O
dC8CtIDC8It 88 "thC_CnCt8lODu8lOt C8QIt8|mOnCynOtOny tCl8In8
Il8IndCQCndCnllOtmIlM8O InCtC88C8 Il8Cl 8Olh8lIttC8y dOC8 DCCOmC
lhC8Im OlthCWhOCQtOCC88. Lny88 C8QIl8 dOC8lhCIndCQCndCntlOtm
80 AN !NTKODUCT!ON TO KAKL MAKX' 5 AI1A
olVuchnyhndIl8dcQulc ndQQtoQt:lc cxQtc88IonotloQulIl
nolhctWy lhc Qctmncnl cxI8lcnCc olVuccnComQ88In_lhccnlItc
cConomy I8 onyQo88IDcWhcnV8uc cxcCulc8 lhc moVcmcnl olCQIl
%L%.Ilhlhc moVcmcnl %~L%` hoWcVctWccVclhctcm
ol8ImQc CItCulIon noWWchVc lo cxmnc lhc 8uD8lnCcnd ncCc8-
8tyCondIlIon8 ollhI8moVcmcnl.
2
4.2The0ccu/tQua/ig"o]la/ue:N0N
Lcl'8ht8llkc ookonCc_Inllhc 8cQucnCcL%LWhIChCom-
mndcd outllcnlIonIn Qtl 2.2 dutIn_ lhc dI8Cu88Ion olmoncy'8 dIl-
lctcnlmClIon8. hcCommodIlyQtoduCcth8QtoduCcdCommodIlyL
WIlh QtlICutu8cVuchc8c8lhI8CommodIly nd u8c8 lhcmoncy
lhu8 oDlIncd lo Duy dIhctcnl CommodlyWIlh dIhctcnl u8cVuc.
hcmoncyI8dchnIlcysent,lhcIm ollhcQtoCc88I8lhcCon8umQlIon
ollhc 8cCondCommodIly. hcmc8utcollhcWhocQtoCc88I88clDylhc
nccd8 ollhc QtoduCct8 nd lhc QtoCc88 I8 ConCudcd WIlh lhc 8u8lC-
uonollhc8cnccd8.
oWcl'8 l8kc ookllhc8cQucnCc %L%.hc8cQucnCc Con-
8I8l8 ollhc 8mc ccmcnl8 %L nd L%8 lhc 8cQucnCc L%L
onylhcotdctdIhct8:noWCommodIlyI8QutCh8cdmotdctlo8cIll-
lctWtd.%oncyI8lhc8ltlIn_QoInlndcndQoInlol lhcQtoCc88.mounl8
olmoncyCnonydIhcthom oncnolhctQunullIVcy nolQu8IllIVcy.
hc h_utc olCItCulIon ony yIcd8ndVnl_cIllhc mounlolmoncy
llhccnd ollhc 8cQucnCcI8_tclctmlhcmounlolmoncyllhcDc-
_Inn:n_ollhc 8cQucnCcWhcnIlI8 lhctclotc C8col%L~%`Whctc
%` I8_tclctlhn %. oWlhcQoInlollhc WhocQtoCc88I8 lhcQunlIl-
lIVcInCtc8c ollhc otI_Inmounlolmoncy. hcmoncyI8nol 8Qcnl [8
IlI8InlhcC8colL-%~L|tlhctlhcmoncyI8adcanced.1lI8_IVcnoul
onyInotdctlo lkcInt_ctmounlllcFtd.
A8um olVuc lhl Qctlotm8 lhI8 moVcmcnl I8 caita/.Amctc 8um
olVucInndolIl8clWhclhct Inlhclotmolmoncy otCommodIlyI8
nolyclCQIl.A8In_cClolcxChn_c8o doc8 nolmkcCQIloulol
QtlICut8umolVuc.LnylhcInkIn_olVt:ou8cxChn_cQtoCc88c8
CAF!TAL, 5UKFLU5 VALUE, AND EXFLO!TAT!ON 87
WIlh thc QuIQO8c OlInCIca8In_ thc InIlIa! 8um OlVa!ucyIc!d8 lhc tICa
mocemento]caita/:CaQIla!I8nOlmcIcyVaucDutIalhcIseca/otizing
ca/ue,mcanIn_a 8um OlVa!uc lhalQcIlOIm8 lhc mOVcmcnl mL-m`.
hcInCIca8cInVauc ODtaIncdWIththcmOVcmcnlOlCaQItalhcdIhcI-
cnCc Dcccn m and m I8 Whal maIx Ca8 suq/us ca/ue.n Ca88ICa
QOIlICacCOnOmyandInmOdcDcCOnOmICthcOIythI8COnCcQldOc8nOl
cI8l. P8 Wc 8ha! 8ccatcI8uIQ!u8VaucI8 nOt mcIcy a dIhcIcnlnamc
lOIQIOht OI_aIn8DutIathcI8OmclhIn_ dIhcIcnt. OWcVcI allhI8 tImc
thcIcI8 nO nccd lO COnCcH OuI8cVc8 WIth lhI8 dIhcIcnCc [On thc cxaCl
mcamn_ OlQIOht 8cc ChaQtcI 7, On lhc mcanIn_OlQIOhlOlcntcIQII8c
8ccChaQtcI 8).
hc Ony M OllhcmOVcmcnl OlCaQIla I8 lhcInCIca8c Olthc 8um
OlVa!uc lhal I8 InItIa!y adVanCcd. ul lhI8 QuIcy guantItalIVc InCIca8c
knOW8ncIthcImca8uIc[Why8hOuda IQcICcnlInCIca8cDcdccmcdIn-
8umCIcntWhIc COn8IdcIIn_a20 QcICcnlInCIca8c38umCIcnl:| nOIImIl
[Why8hOudthcQIOCc88cndahcIa8In_uaImOVcmcnlOIcVcntcn8uCh
mOVcmcnt8:|. \nIkc thc 8ImQ!c COmmOdIly CIICuatIOn Ol LmL
WhICh ha8 an M Out8IdcOlthc8QhcIcOlCIICualIOn [lhc aCguI8IlIOn Ol
u8cVa!uc8 lOIthcQuIQO8cOl8atI8n_nccd8|andlhalhnd8It8mca8uIc
In lhc nccd andIl8ImItIn lhc 8atI8laClIOnOlthal nccd thcmOVcmcnlOl
CaQItaI8anendiniteun/imitedandcease/ess.
lOncCOn8IdcI8COmmOqlyQIOduClIOnWhcaD8lIaCtIn_hOmCaQI-
la Onc mI_hl _ct lhc Idca that thc aIm OlCOmmOdIty QIOduCtIOn and
cChan_cI8 thc _cncIa! 8atI8laClIOnOlnccd.LVcIyOnc 8alI8hc8 hI8OIhcI
OWn nccd8Dy QIOduCIn_a COmmOdIly lhat 8alI8hc8 thcnccd8 OlOlhcI8.
hI8COmmOdIlyI8thcncChan_cdlOImOncyInOIdcItOu8cthI8mOncy
lO QuICha8caCOmmOdIlylhat8alI8hc8 Onc8 nccd8.OuI_cOI8cCOnOm-
IC8 [DOlh Ca88ICa!QOIlICa!cCOnOmya8Wca8 mOdcInncOCa88ICacCO-
nOmICthcOIy|undcI8land8COmmOdIlyQIOduClIOnInthI8Way.
0aita/ist commodigtoduction [lhc _cncIaIZatIOn Ol COmmOdIly
QIOduClIOn hI8lOCCuI8 hI8lOIICay undcICaQIlaI8l COndIlIOn8| I8 hOW-
cVcI nOt _caIcd lOWaId lhc 8au8laClIOn Olnccd8Dul tO lhc Va!OIIZauOn
OlVa!uc.hc8atI8laCtIOnOlnccd8OnyOCCuI8a8aDy-QIOduClIn8OlaIa8
IlCOInCIdc8WIththcVa!OIIZatIOnOlCaQIla.hcaimOlCaQItaI8tQIOduC-
uOnI88uIu8Va!ucandnOllhc8au8laClIOnOlnccd8.
88 AN lNTKODUCTlON TO KAKL MAKX'5 AJ1A
\Q m nOW Wc haVc 8QOkcn Olcaita/,Dul nOlycl Olcaita/ists.
oOmcOnc WhO QO88c88c8 a !aI_c 8um OlVauc I8 nOl ycl a CaQIlaI8l
8OmcOnc I8 Ony a CaQIlau8l Whc hc I 8hc aCluay dI8QO8c8 OllhI8
8um OlVa!uc a8 CaQIla makIn_ lhc mocementOlCaQIla! a8 an endin
itse a8uD_cClIVc aIm.
tI8on!yIn8ol8t88lhc8QQtoQtI8lIonol cVctmotcWc8!lhInthc8D8tt8Ct
I8 lhc 8o!cmotIVcDchInd hI8 oQct8Uon8 th8t hc mnCtIon8 88 8 C8QItm-
I8l, I.c., 88 C8QIl8! Qct8onIhcd 8nd cndoWcd WIlh Con8CIou8nc88 8nd 8
W. |se-oa/uesmwtthetqoteneoet/etteatedastheimmediateaimo[
thecaita/ist,.ictmusttheto]tonan sing/e ttanaaction. Hu aimis
tathet the unceasingmooemento[to]t-making. (0aita/, I:ZJ9 cm-
Qh88I8 8ddcd)
P QcI8On I8 lhcIclOIc a "CaQIlmI8lOmyWhcn hc OI 8hc I8 "CaQIla
QcI8OnIhcd mcanIn_ lhalhI8 OIhcIaClIVItylO!OW8 thc O_IC OlCaQIla!
[ImIUc88 and Cca8cc88VaOIIZauOn|and lOI lhI8 IlI8 nOl ncCc88aIythal
thI8 Qct8OnDc lhc ounetOlCaQIla.Pnd On!y In thI8 8cn8cCaQIta!I8l8 a8
CaQItaQcI8OnIhcdI8thclctmCaQIl8!I8lu8cd In lhclOOWn_ChaQlcI8.
LaQItau8l8aIc"QcI8OnIhCatIOn8Ol cCOnOmICIcatIOn8OI"cCOnOmIC
ChaIaClcIma8k8[0aita/, . 19|.'' hI8I88ImI!aI lOWhalWc OD8cIVcd
WIth Ic_aId lO thc aCtIVty OlCOmmOdIty OWncI8 [8cc 8cClIOn8 3.28nd
3.):aQcI8OnDchaVc8!IcaCOmmOdIlyOWncIOICaQIt8I8lIn8OlaIa8hI8
OIhcIDchaVIOI lO!OW8 a 8QcCIhCIatIOna!Ity. hI8IauOn8!IqI8 a Ic8u!l
OlthclOIm-dclcImInalIOn Ollhc cCOnOmIC QtOCc88 [lhc cCOnOmIC lOIm-
dclcImInatIOn Olthc COmmOdIq OI CaQIla, Ic8QcCtIVcy|. P8 QcOQ!c8
DchaVIOICOnlOD8lOthI88QcCIhCIatIOnaIty thcyIcQIOduCclhcQIcCOn-
dItIOncd cCOnOmIC lOD-dclcDInanl. n maIx8 QIc8cnlalIOn thc cCO-
nOmIClOIm-dclcImInatIOnmu8lDcana!yZcdhI8lDclOtclhcDchaVIOIOl
QcOQ!cI8addIc88cd.
AaCtu8OWncIOlmOncymI_hlQuI8ucOthcI_Oa!8Dc8Idc8thcV8!O-
IIZalIOnOlCaQIlaDulthcnhcnOOn_cIOQcIalc8cxCu8IVcya8a"CaQIt8!-
I8l.hclaCllhallhcIndIVIdua!CaQIl8I8lCOn8lanUyallcmQt8lOInCIca8c
hI8 QIOhl I8 nOl IOOlcd In any Q8yChOO_ICm tIaIl Ikc "_Iccd. alhcI
8uChDchaVIOII8 come/dDythcCOmQctItIVc8lD__!camOn_CaQIlaI8l8.
CAFTAL, 5UKFLU5 VALUE, AND EXFLOlTATlON 89
Theindivduacapitaist,insoFarasheorshewshestoremainacapita-
ist,requiresincreasingretusnottosatisanincreaseinpersonacon-
sumption,whichinthecaseoFargecapitalconstitutesanny6actionoF
totaretuns,butprimariytomodernizeproducnonFacnesorproduce
newproductswhenthereisnoongerdemandForoderones.!Facapita
istForgoesmodernizationorchange,heorshewlsoonbebankrupt.!n
section5. 2,wewi!returntothesecoetcice/auso]cometition.
WiththepassageoFtime,theextenmFonoFappearanceoFthecapi-
taisthasundergonesomechanges.The6eeentrepreneur"oFthenine-
teenthcentury,whomanagedhisbusinessandnotuncommonyFounded
aFamiydynasty,wasargeyrepacedinthemennethcentury,ateastin
meargerbusinesses,bythemanager,"whooFtenownedonyasmaer
shareoFstockinthebusinesshemanaged.otharecaita/utsinMac's
sense,thatis,personicationsoFcapita.TheybothdisposeoFasumoF
vaueascapita.
!FthecapitaistmerelyeecutestheogicoFcapita,thenitisnothe,
butrathercapita,seF-valorizingvaue,thatisthesubect"oFtheprocess.
MacreFerstocapitainthisregardastheautomancsubect"[0aita/,
I:255),aphrasethatmakestheparadoxcear:ontheonehand,capitais
anautomaton,somethingiFeess,butontheother,asthesubect,"itis
thedeteniningagentoFthewhoeprocess.
Asthedominantsubect"[|eteqndesSu|ekt) [0aita/,I :255)
in the process oFvaorization, vaue needs anindependent Form and
obtainsitinmoney. MoneyisthereForethestartingpointandterminal
pointoFthevaorizanonprocess.
Moneywasareadytheindependent,iFinadeuate,FormoF uewith-
intheprocessoFsimpecircuanon.Ascapita(torepeat:capitaisneither
moneynorcommoditytakenbyitseF,butrathertheimitessandcease
essmovementoFapprecianon,MC-M),vauenotonypossessesan
indeendentFon,itisnowaseF-movngsubstance,whichassesthtough
atocesso]it oun,"arathercurioussubectwithextraordinarypowers:
n ltulh, hoWcVct V8!uc I8 hctc lhc 8uD_cCl ol8 QtoCc88, In WhICh
WhI!c Con8l8nl!y 888umIn_lhc !otm In lutnomoncy8nd CommodI
lIc8, Il Ch8n_c8 Il8 oWn m8_nIludc. . . . y VItluc olDcIn_ V8uc, Il
90 AN lNTKODUCTON TO KAKL MAKX'5 A1A
h888CQuItcdthcoccu/tqua/iglo8ddV8uc loIl8cl. (0aita/,I .255.
CottcClcd lt8n88tIon]
tseemsasilvucis abc to incrcascitscl[somcbanksusc thcad-
vcrtisingsogan"ctyourmoncyworkloryou,"whichischaractcristic
olthisiusion).Nowct'scamincwhatthis"occultqualty"rcstsupon.
4.30/assRe/ations:TeotketFteeintheDou|/eSense"
bolar,wchavc onylorma!ydctcrmincdwhatcapitais.asumolvauc
that vaorzcs itscl, that cccutcs thc movcmcnt M-C-M. ut thc
qucsbonrcmains,howisthismovcmcntata!ossi|/e,ortoputitanothcr
way,uhetedoessu:/usca/uecome ]om
ithinthcsphcrcolcircuation,vaorizationwoudonlybcpossibc
ilcommodityCispurchascdbcowitsvaucorsodabovcitsvauc.n
thiscasc,thcsumol vucadvanccdcanbcncrcascd,butonccapitaist's
gainisonypossibcilanothcrcapitaisttakcsaossolthcsamcamount.
Atthccvcolsocictyasawhoc,thcsumol valuchasnotchangcdithas
simpybccnrcdistributcd,]ustasilasimpcactolthclthadoccurrcd.
Capitaist proht woud thcrclorc bc cxpaincd as a cio/ation olthc
aws olcommodity production. llwc assumc thc norma conditions ol
commodity production and circuation, thcn thc "cxchangc olcquiva-
cnts"app!ics.thccommodibcsthatarccxchangcdloroncanothcrhavc
thcsamcmagnitudcolvauc,thcpriccpaidisanadcquatc cxprcssionol
thcmagnimdcolvaucolthccommodityand docs notcxprcssacoinci-
dcntaygrcatcrorcsscrmagntudcthccommoditicsarccxchangcd"at
thcirtrucvucs."lsurpusvaucisanormphcnomcnonolcapita!ist
commodityproductionandnot ]ustancxccption,thcnitscxistcnccmust
bccxpaincdundcrthcprcsuppositionolan"cxchangcolcquivacnts,"
andthisiscxactythcqucstionthatManposcs.
Man'sdcibcrationscanbcsummarizcdas loows:ilcquivacntc-
changc is assumcd,thcnsurpus vauc cannotbc constitutcd in circu-
ation, not in thc hrst act olcirculation, M-C, nor in thc sccond act,
C-M. Achangcmusttakcpaccbctwccnbothacts. utoutsidc olmc
CAPlTAL, 5UKPLU5 VALUE, AND EXFLOTATlON 9I
sphcrcolcrcuaton,thcuscvalucol thcpurchascdcommodtysmcrcy
consumcd.Jhusthcowncrolmoncymusthndacommodtyonthcmar-
kctuhoseuseca/ueossessthequa/igo]|eingasoutceo]ca/ue,so that
thc usc olths commodty crcatcs vuc, and morcvauc than thccom-
modtytscllcosts.
buch a spcca commodtycxsts. ts thccommodty cacd /a|ot-
ouet.Jhc tcrmlabor-powcrrclcrsto thca|i/ig olhumanstopcrlorm
!abor, and undcr thc condbons olcommodtyproducton, thc cxpcn-
dturc ollabor canbc a sourcc olvaluc. l scl!mylabor-powcr, thcn
rc!nqushthsabtytosomconcclscloraspcchcpcrodoltmc.nthc
cascolscngabor-powcr,thccntrcpcrsonsnotsod[Idonotbccomc
aslavc),buttssonotmccascthatlaborssod.Laborsthca/ica-
tionolabor-powcr.Jhatonythca|i/igtom|otwassold,andnotlabor
tscll,sshownamongothcrthngsby thcstuatonwhcrcrawmatcras
arc tcmporarly mssngand mc owncrolmoncy cannot usc thc abor-
powcrhchaspurchascd.
Jhatthcowncrolmoncycncountcrsabor-powcr0acommodigon
thcmarktsnotamattcrolcoursc.Jwocondtonshavc tobcsatshcd
lorthstobcthccasc.rst,thcrcmustbcpcoplcwhoactas ]eetoti
etotsolthcrownabor-powcr,whoarcthcrclorcnapostontoscthcr
abor-powcr.Aslavcorascrlsthcrclorcnotnsuchaposton,snccthc
sclcrsolabor-powcrmustbc/ega/( ]eeeq/e.
utlthcscpcoplchavcmcansol productonatthcrdsposandcan
producc and scllthcr own commodtcs orcan subssthom thcprod
uctsolthcrownabor,thcnthcyw probabynotsclthcrlabor-powcr.
JhcyarconlydticentoscIthcrlabor-powcr,andthssthcsccondcon-
dbon,lthcydonotownanymcansolproducton,lthcyarcthcrclorc
notomycgalylrccbutalsohccolsubstantvctqetg.Jhcnthcyactu-
y trcat thcr labor-powcr as a commodty. Jhc cxstcncc olworkcrs
whoarc"hcc"nths doubc scnscsanndspcnsabc socaprccond-
bonolcaptalstproducton.
Jhusaspcchcte/ationshi|etueensocia/c/assesundcrlcsthccap-
tastmodc olproducton. on thc onchand, thcrc must cxsta c/ass o]
tqetgounets[owncrsolmoncyandmcansolproducton),andonthc
othcrhandthcrcmustcxstac/asso]/ae(toett/ess, |ut/ega/(]ee
92 AN lNTKODUCTlON TO KAKL MAKX'5 AI1A
uotkets.This reationship between socia casses is usuay what is meant
when Marx speaks not oF capita, but oF the caita/-temtion.
When Marx deas with casses," he is doing so without deveoping a
m cass-theo" The term reFers simpy to posiuons within the socia
process oF production, in our case to owners oF means oF producuon and
those who are excuded hom this ownership, respectivey. However, with
regard to these casses de6ned by their socia position, Mac does not as-
sume that the individua members oF a cass automaticaIy possess a com-
mon cass consciousness" or even that they exhibit a common cass
acuvity." At this eve oF depiction, cass" is in the 6rst instance a purey
sttuctuta/category, whether cass means anything more has to be ex-
amined in each respective concrete context. When moden socioogy-
against Marxcaims to discover the end oF cass society within capitaI-
ism, then it usuay cites as evidence the ack oF cass consciousness, on
the basis oF possibiities For upward mobiity or the indivduaizauon" oF
society It thereFore makes use oF a criterion that Marx does not at aI ap-
py to the structura concept oF cass predominant in 0aita/. However,
tradiuona Wondview Marxism oen drew the concusion oF a common
consciousness arising From a structuray common socia position and
tended toward assuming a common socia agency. Thus, instead oF con-
ceivng cass rue" as a snuctuta/reationship between socia casses, it
was conceived as an intentiona/temtionshi,where one cass imposes its
w upon another cass.
The sheer existence oF this cass reationsbipowners oF money
and means oF production on the one hand, properqess but egay hee
workers on the otheris in no way natura," but the resut oF a hutoti-
ca/dece/oment.This historicaI deveopment beongs to the tehutot
oF capitahsm. In order to continue with the anaIysis oF the mndamentaI
structures oF capitaIism, it is sumcient to take the resuts oF this prehis-
tory as given. For that reason, the historic process oF emergence oF the
worker as hee" in a doube sense is sketched at the end oF the 6rst vo-
ume oF 0aita/under the tite The So-CaIed Primitive Accumuation."
Using Engand as an exampe, Mac shows that this was an extremey
vioent and boody process, which resuted in no way hom the market"
but was activey assisted by the state (we aready hinted at this process in
CAPlTAL, 5UKFLU5 VALUE, AND EXFLOlTATON 95
secoons I . I and I .2).However, primitive accumuation" is not a histori-
cay singuar process: in the course oF the goba spread oF capitaism,
simiar deveopments occur.
4. 4Tela/ueo]the0ommodigLa|ot-Pouet,
Suq/usla/ue, andEx/oitation
To understand the emergence oF surpus vaue~in spite oF the
exchange oF equivaents~we have to concern ourseves in greater detai
with the commodity caed abor-power. Like a other commodities,
abor-power has a use vue and a vaue. The useca/ueoFabor-power
consists oF its appication, that is to say, abor itseF. Labor expenditure
creates new vaue, which prior to the act oF exchange can ony be esti-
mated. The extent to which the abor expenditure was actuay vaue-
constituting is reveaed on the basis oF the reduction that occurs in
exchange (see section 3.3above).
Marx views the vaue oF abor-power as being determined, as in
the case oF every other commodity, by the abour-time necessary For the
production, and consequenty aso the reproducoon, oF this specia ar-
tice." Every individua requires For his or her own maintenance a range oF
means oF subsistence in the broadest sense, not just Food, but so coth-
ing, sheter, etc. Mac then concudes: ThereFore the abour-time neces-
sary For the production oFmour-power is the same as that necessary For
the production oF those means oF subsistence, in other words, theca/ue
o]m|out-ouetutheca/ueo]the meanso]su|sutencenecessa]otthe
maintenanceo]itsounet"[0aita/,I :27 4, emphasis added).
Since the continued existence oF the capita-reation requires that
abor-power is continuousy oered For sae on the market, the vaue oF
abor-power must aso cover the costs that are necessary For a worker's
entire Fmy, incuding the costs oF education For the worker's ospring.
IF the traditiona nucear Famiy, in wmch the me hires mmseF out as a
wage aborer whe the woman takes over the reproducove abor, is sociay
predominant, the vaue oF the (mae) abor-power has to cover the costs oF
reproduction. IF, in contrast, the usua case is one in which two peope are
94 AN NTKODUCTlON TO KAKL MAKX'5 AI1A
cmQOycdthI888OInlucnCc8thcV8ucOl8DOI-QOWcI: thcCO8t8Ol IcQIO-
duCuOn II8c8InCc8Q8ItOlthcIcQIOduCtIVc8DOInOOn_cIOCCuI8Inthc
hOu8chOd8nd COnc8QOndIn_ QIOduCt8 8nd 8cIVICc8 h8Vc tO In8tc8d Dc
QuICh88cdOIQIOVIdcdDythc8t8tcWhIChInthc8ttcIC88cthcnh8VctODc
hn8nCcdDy hI_hcI t8Xc8.hc CO8t8OlIcQIOduCuOn lOI8lmymu8tnO
On_cIDcCOVcIcdDy8sing/e8DOI-QOWcIDutDythc8uOlV8ucOl|oth
8DOI-QOWcI8,8Oth8tthcV8ucOlIndIVIdu88DOI-QOWcIdc8QItcII8In_
CO8t8 OlIcQIOduCtIOn~W tcndtO 8InK.
8 WIth cVcIy COmmOdIty [8cc 8cCtIOn 3.78DOVc|ticechangeslOI
thc COmmOdIty 8DOI-QOWcI dO nOt 8W8y8 cXQIc88 8 Ch8n_c InV8uc
DutmI_ht88OIchcCtthcmOmcnt8IIyl8VOI8DcOIunl8VOI8Dc8Itu8tIOn
lOIthc 88cOlthI8 COmmOdIty[8tcmQOI8Iy8C8ICItyOI8tcmQOI8Iy8uI-
Qu8 Ol8DOI-QOWcI|.CtuMchangesinca/ueOl8DOI-QOWcI C8n Ic8ut
hOmtWO8OuICc8:hOm8Ch8n_cInthcV8ucOlthcmc8n8Ol8uD8I8tcnCc
ncCc888Iy lOIthcIcQIOduCtIOn Olthc 8DOIcI OI hOm 8 Ch8n_cIn thc
extentOlthc 8mOunt Ol mc8n8 Ol 8uD8I8tcnCc ncCc888Iy lOI thc IcQIO-
duCtIOn Olthc 8DOIcI. hc cXtcntOl"ncCc888Iy mc8n8 Ol8uD8I8tcnCc
dIcI88mOn_thcV8IIOu8 COuntIIc88ndhI8tOIIC8QcIIOd88nddcQcnd8
uQOn Wh8t I8 nOIm8y COuntcd 8mOn_ thc ncCc888Iy IcQuIIcmcnt8 Ol
Ilc88Wc88WhIChC8Im8WOIKcI88Ic8DctO888cIt.OInCcItI8nOtncC-
c888IIy thc C88c th8tC8QIt8I8t8WIIn_y COnCcdc 8uCh C8Im8It I8 thc
c/asssnu@/eDctWccn WOIKcI8 8nd C8QIt8I8t8 th8t dctcImInc8 thcV8uc
Ol8DOI~QOWcI 88 8QcCIhC C8Im8 8Ic ImQO8cdOI nOt. 1nthI8 COntcXt
%8O 8Qc8K8 Ol8 "hI8tOIIC8 8nd mOI8 ccmcnt [0aita/, I :275)th8t
cntcI8 IntO thc dctcImIn8tIOn Olthc V8uc Ol8DOI-QOWcI WhICh I8 nOt
thcC88cWIthOthcICOmmOdItIc8. ''
1OWcVcI thcIc I8 8 mIthcI dIcIcnCc DctWccn thc COmmOdIty Ol8-
DOI-QOWcI 8nd OthcI COmOdItIc8WhICh %8IX dOc8 nOt 8ddIc88. hc
V8uc Olmc8n8 OlQIOduCtIOn u8cd tO QIOduCc 8 nOIm8 COmmOdIty
lOIm8 Q8It OlIt8 V8uc88Wc88 thc ncW V8uc 8ddcd Dy thc 8DOI th8t
CIc8tc8 thchnI8hcdQIOduCthOm thc8cmc8n8 OlQIOduCtIOn.hI8I8nOt
thcC88cwIththcCOmmOdIty8DOI-QOWcI. It8V8ucI8dctcImncd 8Ocy
Dy thc V8uc Olthc mc8n8 Ol8uD8I8tcnCc th8t h8Vc tO Dc QuICh88cd On
dcm8IKct.bcQIOduCtIVc8DOIC8IIIcdOutInthchOu8chOd[hOu8cWOIK
ChIdIc8IIn_|QtIm8IIy Dy WOmcn dOc8 nOt lOtm 8Q8It Olthc V8uc Ol
CAFlTAL, 5UKFLU5 VALUE, AND EXFLOITATlON 95
abor-power. Femimst authors have evied the accusation at Mac that
the critique of pohtic economy has a bind spot" [for exampe, the
programmatic essay by Caudia von Werhof, I978).However, it is not
Marx's determination of the vaue of the commodity abor-power that is
wronghe gives an account of how its detenination appears in capita-
ismwhat is wrong is that he does not emphasize the distinctiveness of
this determination of vaIue, but instead attempts to prove its consistency
with the determination of the vaue of a other commodities.
Within capitaism, the particuar determinanon of vaue of the com-
modity ofabor-power is necessary: if workers woud receive consider-
aby more than the vaue of the means of subsistence that they have to
buy on the market, then they woud in the ong term no onger be without
property, and would be abe to at east partiay 6ee themseves hom the
compusion to sel their abor-power. The restriction of the vaue ofabor-
power to the costs of reproduction is a mnctiona necessity of capitaism,
but the achievement of this restriction is in no way a matter of course. It
is entirey conceivabe that a wel-organized working cass womd be ahe
to impose correspondingy high wages by means ofabor strugges. How
this restriction of the vue ofabor-power is nonetheess imposed auto-
maticaIy" in the course of the capitaIist process of accumuanon wi be
shown in secnon 5..
The dierence between the [dmy) vaue ofahor-power [the sum of
vue required on average by abor-power for its own dmy reproduction)
and the new vaIue that the individua worker is abe to produce in one
day under norma conditions accounts exacJy for the surpus vue re-
fened to above in the case of the formua M~CM. The fact that the
dy vaue ofabor-power [the vaue tequitedfor its own reproduction) is
ower than tbe vaue that can be cteatedin a day by the use ofabor-power
[through expenditure of abor-power) is the foundation of the occut
quaIity" of vaIue to create new vaue.
The [daiy) vaue ofabor-power thus consntutes ony a portion of tbe
vaIue newy created tbrough the [daiy) use ofabor-power. For exampe,
u a particuar sum of vaIue is created tbrough the expenditure of abor-
power during an eight-hour workday, then this newy created vue can
be formaly divded into the vaue ofabor-power and the surpus vaue.
90 AN lNTKODUCTON TO KAKL MAKX'5 AI1AI
IF the daiy vaue oFabor-power amounts to 3[8 oF the vaue created over
the course oF an eight-hour workday, then one can Formy state that the
vaue oFabor-power was produced in three hours and the surpus vaue
was produced in 6ve hours. Marx thereFore reFers to the 6rst three hours
as necessary" abor-time (abor-time required to reproduce the vaue oF
mor-power) and the remaining 6ve hours as surpus abor-time (abor-
time perFormed by the worker beyond that necessary to reproduce his
or her own abor-power). Since the workers in our exampe receive the
vaue produced in three hours as payment, Mac reFers to the necessary
abor-time as paid abor" and the surpus abor-time that the capitaist
receives in the Form oF surpus vaue as unpaid abor."
The Fact that the individua worker receives a esser vaue hom the cap-
itaist than the vaue he produced through his abor is reFened to by Marx
as ex/oitation"aterm that can be misunderstood in various respects.
The term expoitation is not meant to aIude to especiaIy ow wages
or especiay bad working conditions. Expoitation reFers soey and ex-
cusivey to the Fact that the producer ony receives a portion oF the newy
produced vaue that he or she creates-regardess oF whether wages are
high or ow or worHng condiuons good or bad.
Expoitationcontrary to a widespread notion and despite cor-
responding statements by many Marxists"is aso not meant to be a
mota/category. The point is not that something is taken away hom work-
ers that actuay" beongs to them, and that this act oF taking is some-
thing moraIy reprehensibe. The reFerence to paid" and unpaid" abor
is aso not intended to argue For the compensation oF aJ" oF the a5or
expended. On the contrary: Mac emphasizes thataccording to the
aws oF commodity exchange-the seer oF the commodity abor-power
receives exacty the vaue oFhis or her commodity. The Fact that the buyer
obtains a particuar advantage hom the use vaue oF the commodity is no
onger oF any concern For the seer. Marx compares this to the exampe oF
an oi deaer: the deaer obtains the vaue oF oi as payment, but does not
receive anything in addition For the use vaue oF the oi [0aita/,I .30 I).
Expoitation" and the existence oFunpaid abor" are not the resut oF
an in]ingementoF the laws oF commodity exchange, but are rather in
com/iancewith them. IF one wishes to a5oish expoitation, then this
CAPTAL, 5UKPLU5 VALUE, AND EXPLOlTATON 97
cannotbcaccomplishcd through arctormotthc rclabons otcxchangc
wthncaptaIsm,butonlythroughthcaboItionotcapitaIism.
. 5Tela/ueo]La|otAn ImaginaExtession"
Valorzaton rcsts upon thc appropriaton ot"unpaidlabor-tmc". thc
capitaist docs not pay thcvauc otthcproductcrcatcd byworkcrs,but
paysthcvucotlaborpowcr. utaccordingtocvcrydayconscousncss,
wagcsarcrcgardcdaspaymcnttorthclaborpcrtormcd: cxploitabonas
mcnormalstatcotcapitaistproductionisnotvsiblc.Lxplotationomy
sccms to occur tawagc s "too low." ltsccms astthc wagc docs not
cxprcssthcca/ueo]/a|otouet,butramcrthcca/ueo]m|ot.
Manrctcrs tothctcrm"vaIucotlabor"asan "magnary"and"irra-
bonal"cxprcssion[0aita/,I:677,679).Lor-morcprccscly,abstract
labor-sthcsubstanccandm ancntmcasurcot vauc.Laborcteatesval-
uc,butdocsnottsclthavcwuc.toncspcaks otthc"vaucotlabor"and
asks howlargc thcvauc otaworkday otcighthours is,thcn oncwould
havctoanswcr.thccght-hourworkdayhasavaucotcghthoursotlabor,
astatcmcntthatMarxrightIydcscribcsas"absurd"[0aita/,I:675).
Howcvcr,thcphrasc"vaucotlabor"isnot ]ustanabsurdcxprcssion.
Manmaintainsthat"maginarycxprcssons"Ikcvalucotlabororvauc
otland"arsc,ncvcrthclcss,homthcrclatonsotproducbonthcmsclvcs.
Jhcy arc catcgorics torthctorms otappcarancc otcsscntia rclabons"
[0aita/,I.677).
Jhcessentia/rclationsthcvalucotthccommodtylabor-powcr,but
taeatsnthctormotthcwagcasthcvalucotlabor.buchtormsotap-
pcarancc "arc rcproduccddrcctIyandspontancously, as currcnt modcs
otthought,"whcrcasthccsscntialrcIations"musthrstbcdscovcrcdby
scicncc"[0aita/,I.682).
Jhc"vauc otlabor" isannvcrtcd and nconcct conccption, not
brought about through conscious manpulation, but rathcr cmcrgng
homsocalrclabons.tisonc otthc"ob]cctivctorms otthought"[o|ek-
tice0edanken]otmen)[0aita/,I: I 69,sccscc.3.8,partt)thatstructurcs
thc conscousncssotpcoplc caughtupwthinthccondtonsotcapta-
98 AN lNTKODUCTlON TO KAKL MAKX' 5 AJ1A
I8m. rOmthcVIcWQOInlOlthcWOrKcr8ncI_hl-hOurWOrKd8yh88lODc
mm cd InOrdcr tO ODl8In 8 Q8ruCu8r W8_c 8mOunt. hc W8_c 8ccm8
tO Dc lhc Q8ymcnl lOr thI88DOr,8n Iu8IOnmrthcr8trcn_lhcncd Dy lhc
u8u8 lOrm8 OlW8_c8 lhc "tImc r8lc [Q8ymcnl 8CCOrdIn_ lO hOur8 Ol
WOrK] 8nd lhc "QIcCcr8tc[Q8ymcnt8CCOrdIn_tO lhcnumDcrOl8rtICc8
QrOduCcd].1nthclOrmcrC88c,It8QQc8r888Ilthc8DOrQcrlOrmcddurIn_
8Q8rtICu8runIt OllImcI8 COmQcn88tcd8ndInthc 8ltcr C88c thc 8DOr
QcrlOrmcdlOrlhcQrOduCtIOnOl88In_c 8rtICc.
L8QIt8lI8t8 88O 8uCCumD lO thI8 Iu8IOn. 1l I8 8 "8QOnt8ncOu8y
cmcr_In_ InVcr8IOn Ol rc8Ily tO WhICh 8 Q8ruCIQ8nl8 [88 Wc 88 thc
m8_OrIty OlcCOnOmI8l8] 8uDmIl. 8 lhc W8_c I8 undcr8tOOd 88 Q8ymcnl
lOr lhc "V8uc Ol8DOr8 8DOt 8ccm8 tO Dc Q8Id 8DOr. burQu8 8DOr
unQ8Id 8DOr, dOc8 nOt 8ccm lO cXI8l. hI8 InVcr8IOn Olrc8!Ity h88 l8r-
rc8ChIn_COn8cQucnCc8.
A lhcnolIon8 o _u8lICchc!dDyDolhWotKct8ndlhc C8QIl8!I8llhc
my8lIhC8uon8oUcC8QIl8!I8lICmodc oQtoduClIon,M C8QIlMI8m8I!!u
8Ion8 8Doul hccdom M lhc 8Qo!o_clIC ltICK8oVu!_8tcConomIC8h8Vc
88 lhcItD88I8 lhc otm o8QQc8t8nCc dI8Cu88cd8DoVcWhICh m8Kc8 lhc
8Clu8! tc8lIon InVI8IDc,8nd Indccd Qtc8cnl8 lo lhc cyc lhc QtcCI8c oQ
Qo8Ilc olh8ltc!8lIon.(0aita/,I.680)
hcW8_c lOrm COn8tItulc8 thclOund8lIOnlOr8mrthcr "my8tIhC8-
tIOn8 Ollhc C8QItM-rc8uOnWhICh CumIn8tc In thc "tInIly Ormu8
[8cc Ch8Qlcr I0). ul 8t thc Qrc8cnt QOInt Wc mu8t nOtc th8t_u8t88 thc
8QOnl8ncOu8COn8CIOu8nc88OlamcmDcr8OlDOur_cOI8 8OCIctyI88uDOr-
dIn8lcd lO thc lctI8hCh8r8ClcrOlthcCOmmOdIly8ndmOncy [8cc 8cCtIOn
3. 8), DOth WOrKcr8 andC8QIt8I8l8 8rc cQu8y 8uDOrdIn8lc lO thc my8-
uhC8tIOn Olthc W8_c lOrm.' hc InVcr8IOn8 _cncr8tcd Dy lhc C8QIt8!I8t
mOdc OlQrOduClIOn dO nOl 8tOQ 8tthcdOOr8tcQ OlthcruIn_C888[lhc
In8I_htOllhI8C888InlO8OCI8rc8tIOn8I8thcrclOrc88OlImIlcd]nOrdOc8
thcDcd8nd cXQOIlcd C888 cn_Oy 8 QrIVIc_cd QO8ItIOn hOm WhICh It
I8 8Dc lO 8cc thrOu_h lhc8c InVcr8IOn8thc "8t8ndQOIntOlthcWOrkIn_
C888muChV8untcdDytr8dItIOn8%8rXI8t8I8OlnO mrmcrhcQhcrc.
. C LQiti8t tOCC88 O tOUUCtiOn
5.10onstant0aita/andlatia|/e0aita/,
theRateo]Sut/us la/ue,theotkda
Inthc third chaptcr,thcduaIcharactcrolcommodty-producnglabor
was dcmonstratcd. concrctc, usc valuc-producng labor and abstract,
valuc-consttuting labor. Jhc caita/ist tocess o]toduction also has
suchadualcharactcr.tisthcunityolthc/a|ottocess[whchproduccs
aspccihcuscvaluc)andthcca/otizationtocess.
lndcpcndcnt ol socia lorm-dctcmnations, a distnction can bc
madc among hxnctonal activity [labor), thc ob]cct ollabor [which is
modhcd by labor), and thc mcans ol labor [thc toolswith which this
proccss olmodhcabonis madc possiblc) asclcmcnts olthc labor pro-
ccss. Jhc laborproccss occurs bctwccn humans and naturc. Humans
actuponnaturc,changngmcmsclvcsatthcsamctmc,dcvcIopngthcr
owncapabltics.Howcvcr,thclaborproccssncvcrcxistsinapurclorm
assuch.Italwaysoccurswthasocalydctcrmncdlorm.asaproducbon
proccssbascduponslavclabor,asaproductonproccssollcudscrls,as
aproductionproccssol ndcpcndcntartisans,orasaproducbonproccss
ol wagc-laborcrsincapitaism.
2
I 00 AN NTKODUCTION TO KAKL MAKX'5 AI1A
YIlhIn lhc CaQIla!1sl QtOCcss OlQtOduClIOn, mc aDOt QtOCcss cx-
hIDIls lWO dIsunClIVc ChataClctIslICs: htsl IlQtOCccds undct lhc COnltO
Ollhc CaQIlaIsl [as CaQIla QctsOnIhcd], and scCOnd lhc QtOduCl Ollhc
aDOt QtOCcss Is lhc QtOQctty Ollhc CaQIla!1sland nOl Ollhc dItcClQtO-
duCct.hc CaQIlaIsl hasQutChascd lhc aDOt-QOWct and mcans OlQtO-
duClIOn[OD_cClsOlaDOtandmcansOlaDOt].hcaDOtQtOCcssIslhusa
QtOCcssOCCuttIn_DclWccnlhIn_sDcOn_In_lOlhcCaQIlaIsl.s atcsul
lhc QtOduCl OlaDOtasO DcOn_s lO lhc CaQIlaIsl.hIs QtOduClIs a usc
Vauc.ulInlhcCaQIla!1slQtOduClIOnQtOCcsslhIsuscVaucIsOnyQtO-
duCcdInsOlatasIlcmDOdIcsVaucandsutQusVauc.
Yc wnOWcxam1nc lhIs dclctmInalc CaQIlaIslQtOCcss OlQtOduCuOn
InmOtcdclaI.ulhtslclsIDltOduCcalcWmndamcnlaCOnCcQlslhalatc
OlCcnuImQOtlanCcnOlOnyInlhIsChaQlctDulmsOmlhOscmallOOW.
hc cxQtcssIOn%~L%'Is dcsCtIDcdaDOVcas "lhc_cnctalOtmu-
alOt CaQIla. Lcls laXc a COsct OOX al Il. NaOtIZalIOn Is Ony QOssIDc
DcCauscaQatlICuatCOmmOdItyIsQutChascdandCOnsumcd:aDOt-QOW-
ct.ulIn OtdctlO "COnsumc mIs COmmOdIty lhcmcans OlQtOduClIOn
[taWmalctIasmaChIncsclC.]atc ncCcssaty. satcsulOllhc QtOCcss Ol
QtOduClIOna ncW mass OlCOmmOdIlIcs Is CtcalcdWIlh a Vauc _tcalct
lhan lhalOllhcCaQIlaadVanCcdWhIChwIDcsOdlOt%.
YIlh tc_atd lO lhc Vauc Ollhc ncWy QtOduCcd COmmOdIlIcs lhc
mcans Ol QtOduClIOn and aDOt-QOWct Qay COmQclcy dIctcnl tOcs.
hcVaucOl lhcmcansOl QtOduClIOnCOnsumcdInlhcCtcalIOnOlaCOm-
mOdIlyCOnslItulcsQatlOllhcVauc OllhcncWyQtOduCcdCOmmOd1ty. l
mcansOl QtOduClIOnatcCOmQclcyuscduQInlhcQtOCcssOl QtOduClIOn
lhcnlhcVaucOllhcsc mcans OlQtOduClIOnIs COmQclcy ltanslcttcd lO
lhc ncWy QtOduCcd mass OlCOmmOdIlIcs. ul Ilmcans OlQtOduClIOn
suCh as lOOs OtmaCh1ncs atc nOlCOmQclcyuscd uQ lhcn Onya Qatl
OllhcItVaucIs ltanslcttcd. llOtcxamQcaQatuCuatmaChInchas aIlc
sQanOllcnycatslhcnOnc-lcnmOlIlsVmucIs ltanslcttcd lO lhcmass Ol
COmmOdIlIcs QtOduCcd WIlhIn a ycat. hcQOtlIOn OlCaQIla mdOul
Inmcans OlQtOduClIOnw ,undctnOtma COndIuOnsnOlChan_cVauc
dutID_lhcQtOduClIOnQtOCcssDulaQOtuOnOlIlsVauc w COnsululca
QOtuOn OllhcVauc OllhcCOmmOdIlIcs QtOduCcd. %aOCaslhIsQOt-
lIOnOlCaQIlaconstantcaita/,OtclOtshOtl.
THE CAFITAL5T FKOCE55 OF FKODUCTlON
Things are diherentwithIabor-power. ThevaIue oFIabor-poweris
notItransFerredtothecommoditiesproduced.ThevaIueneu(genet
atedbytheconsumption"oFIabor-power,thatis,byIaborexpenditure,
iswhatistransFerredtothevaIueoFthenewIycreatedcommodities.The
diherent roIes pIayed bymeans oFproduction and Iabor-powerin the
compositionoFvaIue is iLustrated by the FoIIowing. iFthe vaIue oFthe
meansoFproduction changes,then there is acorrespondingchangein
thevaIueoFtheproduct.AchangeinmevaIueoFIabor-powerhardIyhas
any ehectuponthevaIueoFtheproduct. HowmuchvaIue theworker
adds totheproductoFIabordoes not depend upon thevaIueoFIabor-
power,butupontheextenttowhichtheIaborexpendedcountsasvaIue-
creating,absnactIabor.
ThediherencebetweenthenewIyaddedvaIueandthevaIueoFIabor-
poweristhesuq/uca/ue,ors.OrtoputitdiherentIy,thenewIyadded
vueisequaItothesumoFthevaIueoFIabor-powerandsurpIusvaIue.
MarxcaIIstheportionoFcapitaIusedtopaywagescatia|/ecaita/, or
c For short. This portion oFcapitaI changesvaIueduring the produc-
oonprocess,theworkersarepaidwithc,butproducenewvueinthe
amountoFcs.
ThevaIue oFamassoFcomoditiesproducedw:thinasecihcpe-
riodoFtime(adayorevenayear)canthereForebeexpressedas:
ccs
HerecindicatesthevaIue oFtheconstantcapitaI consumed, thatis,
thevaIueoFtherawmateriaIsandtheproportionateshareoFthevaIueoF
tooIsandmachines,insoFarastheyareused.
ThevaIorizationoFcapitresmtssoIeIyhomitsvariabIecomponent.
TheIeveIoFvaIorizationcanthereForebemeasuredbyreIatingthesur-
pIus vaIue to thevariabIecapitaI.MaccaIIs the quanotys/c thetateo]
suq/uca/ue.!tissimuItaneousIyaIsothemcsureoFtheexpIoitaoonoF
Iabor-power.Therate oFsurpIusvaIueisusuaIIygivenas apercentage.
ForexampIe,iFs* 40andc* 40,thenonedoesnotspeakoFarateoF
surpIusvaIueoF1 butratheroFarateoFsurpIusvaIueoFI 00percent.!F
s 20andc 40,thantherateoFsuqIusvaIueamountsto50percent.
I 02 AN lNTKODUCTlON TO KAKL MAKX'5 AI1A
Therate oFsurpusvaueis ananaynca category thatowesits ex-
istence to the scientihcunderstandingoFthe vaorizationprocess,itis
preconditioneduponourknowinghowvaIorizationisachieved.utFor
thepractica consciousness oFthe capitaIists it is irreevant. capitaists
cacuatethatanadvanceoFcapitaintheamountoFcoisnecessaryin
ordertoreaizeato]toF regardessoFhowthisprohtiscreated(oras
thecasemaybe,theprohtisregardedasthe6uitoFcapitaI").Thecapi-
taist'smeasure oFvaorization isthetateo]to]t: [ (c). Prohtand
rateoFproht,whichpaysuchadecisiveroeintheeverydayIFeoFcapi-
tmism,aredeatwithbyMarxinthethirdvoumeoF0aita/(seechapter
7).Thisis one reason amongotherswhythe reader shoud absoutey
takeaIthreevoumesoF0aita/intoconsideration.
TheengthoFtheuotkdaisgivenbythesumoFnecessaryabor-time
(inwhichthevaueoFabor-powero isproduced)andsurpusabor-time
(inwhichthevaueoFsurpus-vaue isproduced).!FthevaueoFabor-
powerwithinaparticuarsocietyataspecihcpointintimeisgiven,then
theamountoFnecessaryabor-timeismsogivenbutnotyettheamount
oFsurpusabor-time.
!neverysocietybaseduponcassdivisions,adisnnctioncanbemade
betweennecessaryabor-time"(inwhichthoseproductsareproduced
thatarenecessaryForthereproductionoFtheexpoitedcass)andsur-
pusabor-time"(inwhichthesurpusproductisproduced,thatis,the
portionoF thetotasociaproductappropriatedbytheingcass). Marx
casattentiontoacruciaIdiBerencebemeenprecapitahstandcapitaIist
societies:!tishowevercearthatinanyeconomicFormationoFsociety,
wheretheuse-vaueratherthan theexchangevaIue oFtheproductpre-
dominates,surpusabourw berestrictedbyamoreoressconhedset
oFneeds,andthatnoboundessthirstForsuqusabourw ariseFrom
thecharacteroF productionitseF'' [0aita/,i :345).
utthis boundess thirstoFsurpus abour"that characterizes the
capitaist mode oFproductionis notusedbyMarxasamoraIreproach
againstindividumcapitaists. AthoughthisneedForsurpusaborm-
pies-since it knows no imits-mat capita "takes no account oFthe
heathandtheengthoFiFeoFtheworker"[0aita/,i :38I ), andthereFore
asoimpiciHyacceptsthedestructionoFabor-power,thisisnotamora
THE CAPlTALl5T FKOCE55 OF FKODUCTlON
l8Iurc OlIndIVdu8 C8QIt8b8t8DutthcO_IC8 COn8cQucnCc OlC8QIt8I8t
COmmOdItyQrOduCtIOn.
1lthcC8QIt8I8th88QurCh88cd8DOr-QOWcr8tIt8 d8IyV8!ucthcnthc
C8QIt8!I8th88 thcrI_httO 8QQy8DOr-QOWcrOVcrthc COur8cOl8d8y. ut
thccn_thOl8WOrKd8yI8IndctcDIn8tc. Ith88tODc8hOrtcrth8ntWcnty-
lOurhOur88Oth8ttImc rcm8In8 lOrthcQhy8IC88ndQ8yChICrc_cncr8tIOn
OlthcWOrKcr8DuthOWmuCh 8hOrtcrth8ntWcnty-lOurhOur8I8nOtCc8r-
ydctcrmIncd.1lthc C8QIt8I8t8ttcmQt8 tO cn_dcn thcWOrKd8y thcnhc
I8mcrcy8ttcmQun_IKc Odcr COmmOdItyDuycr8tO m8K thc mO8t
Olthcu8cV8ucOlthcCOmmOdIty_u8t88Onc8ttcmQt8 tO 8QuccZcthc88t
DItOltOOthQ88tc lrOmthctuDc.hcCOmQctIuOn8mOn_C8QIt8I8t8COm-
Qc8thcIndIVIdu8C8QIt8I8ttOm8Kc8mQcu8cOlhI8rI_ht888Duycr Ol
m8XImumuuIZ8tIOnOlthcCOmmOdIjhch88QurCh88cd.
OrKcr8 88O Dch8Vc 8CCOrdIn_ tO thc O_IC OlDuyn_ 8nd 8cIn_
Whcn thcy 8ttcmQt tO 8hOrtcnthc cn_th Olthc WOrKd8y. 1n Ordcr tO 8c
thcIr8DOr-QOWcr8ncWthcyh8VctOdI8QO8cOlItInIt8rc_u8rCOndItIOn.
utIlthcQrc8cntWOrKd8yI8 tOOOn_thcnth8tI8ntthcC88c.
hcC8QIt88tWIthhI88ttcmQt8 tOQrOOn_thcWOrKd8y 88Wc88thc
WOrKcr8WIththcIr8ttcmQttO8hOrtcnItC8nDOthInVOKcthc8W8 OlCOm-
mOdIty cXCh8n_c 8 ImIt tO thc WOrKd8y C8nnOt Dc dcrIVcdhOm thc8c
8W88ndthI8mc8n8 thcrcI8thcrclOrc
8n 8ntInomy oltI_ht 8gn8ttI_ht Doth cgu8y Dc8tIn_ thc 8c8 ollhc
8W olcXCh8n_c.clWccncgu8 tI_ht8lotCc dcCIdc8.1cnCcIn lhchI8-
totyolC8QIt8I8tQtoduCtIonthcc8t8DI8hmcntol 8noDlotthcWotKIn_
d8y Qrc8cnt8 It8cl8888tru__cDctWccn CocClIVcC8QIl8,i.e. thc C888ol
C8QIt8I8t88ndCocCtIVc8Douri.e. lhcWotKIn_ C888. (0aita/,1:J44
hcrcVcrW8_c8DOrcr8 8rc nOtIn8QO8ItIOntO COnlrOntC8QIt8WIth
8umCIcnt rc8I8t8nCc 8ndthcrcI8 cnOu_h Ol8hc8h 8uQQytO rcQ8Cc dc-
8ttOycd8DOr-QOWcrC8QIt88trIVc8tO cXtcnd8DOr-tImcDcyOndaQhy8-
IC8 ImIt8. hc 8tru__c lOr thc nOD8 WOrKd8y WhICh %8D dc8CrIDc8
cXtcn8IVcyIn 0aita/,cdInthcnInctccnthCcnturyInLn_8nd8ndthcn
InOthcrCOunttIc8 tO 8c_8ImItOld8Iy8DOr-tImc.c WI8ddrc88thc
8QcCIhCtOc Olthc 8t8tcInthI8QrOCc88 InCh8Qtcr I I .
I 04 AN lNTKODUCTlON TO KAKL MAKX'5 AI1A
5. 2A|so/uteandRe/aticeSuq/usla/ue,
theItonLauo]0ometition
Capita, sct-vaorizng vauc, has no ntrinsic mts to vaorization,
andtorthatrcasonnoratcotvaorzaton,onccrcachcd,issumcicnt.
Wth s/c as thc mcasurc otvaorzation, thcrc arisc two basic pos-
sbitics torincrcasngthcvaorization otcapita,whchMarxrctcrs
toasthcproductionotabsoutc surpusvaucandthcproductionot
rcatvc surpus vauc, rcspcctvcy. [Whcn wc takc into account thc
ratcotprohtasamcasurc otvaorizationnchaptcr1,wcwcncoun-
tcratcwturthcrpossbitics].
Ata givcn vauc otor-powcr, s/c w risc its s ncrcascd. Jhc
quantityotsurpusvaucproduccdbyasngcabor-powcrcanbcrascd
by a cngthcning otthc surpus abor-timc, and surpus abor-tmc s
cngmcncdbycngthcningthcworkday. Manrctcrstothisincrcasngot
surpusvaucandthcratcotsurpusvaucbycngthcningthcworkdayas
thcproductonota|so/utesuq/uca/ue.
Wth thc scttng ota [cga] norma workday, thc producton otab-
soutc surpus vauc docs notyct rcach its mt. A cngthcning otthc
workdaydocsnot]ustoccurwhcnthcnumbcrotdayworkinghoursin
incrcascd,butasowhcn thoschoursarc uscdmorc cmccnuy. through
thcshortcnngotbrcaktimcsorbynoongcrcountingccrtain]obprcpa-
rationsaspartotthcworkngtimc.urthcrmorc,anncrcascinthccvc
otintcnstyotabor[thats,aspccd-up otthcaborproccss]hasthcsamc
chcctasacngthcnngotabor-timc.Antcnshcdworkdayyicdsaarg-
crvaucproductthananomaworkday,]ustastthcworkdayhadbccn
cngthcncd.Conlctsaroundthcuscotabor-tmcandthcntcnshcation
otaborarcpartotcvcrydaybusincsstc cvcntoday.
ut surpus abor-timc can aso bc incrcascd without changing thc
cngth otthcworkday or by morc cmccnt usc otabor-bmc. whcn thc
ncccssaryabor-timcsrcduccd,mcanngwhcnthcvaucotabor-powcr
dccrcascs.tprcvousy, inthccascotancght-hourworkday,tourhours
wcrcrcqurcdin ordcr to producc thc dayvaucotabor-powcr, thcn
tourhoursotsurpusaborrcmain.tthrcchoursnowsumcctorthcpro-
ductonotthcvaucotabor-powcr,thcnhvchoursotsurpusabor-timc
THE CAPlTALl 5T PKOCE55 OF PKODUCTON 05
remmn. Mac refers to the enlargement of surpus vaue and the rate of
suqus vue through a decrease of necessary abor-time as the produc-
non of te/aticesuq/uca/ue.
The necessary abor-time must sumce to produce the vaue of the
means of subsistence required by abor-power for its own reproduction.
If me vaue ofabor-power is to be my compensated [and this must be
assumed ifnorma" capitaist reanons are being considered), then a re-
duction in necessary abor-time is ony possibe when either the qua-
ity and quantity of the means of subsistence considered necessary is
reduced [meaning the norm" standard of iving of the working cass
is owered, which is dimcut to impement and which cannot happen per-
manenty) or-and this is the typic case deat wIth hereif the vaue of
these means of subsistence decreases.
The atter is the case when either the productivity of abor increases
mthose branches that produce means of subsistence [understood in the
broadest sense, not ust foodstus), or when the productivIty increases in
those branches that deiver raw materias or machines for the branches
that produce means of subsistence: with cheaper means of production,
the vaue of the means of subsistence aso sinks. The production of rea-
tive surpus vaue impies, through an increase in the productivity of a-
bor, a reduction in the vaue of means of subsistence and therefore a de-
crease in the vaue ofabor-power.
Lengthening of mor-time and increasing productivity are thus the
two mndamenta possibiIities for raising the rate of vaorization of capita.
But these two possibiities can ony be reaized through the acticitof
individua capitaIists.
The idea that capitaists have an interest in the proonganon ofabor-
nme is intuitivey pausibe: at a given eve of the vue of abor-power,
eery hour of the proonged workday directy raises the surpus vaue
obtained by the individua capitaist.
The case is dierent with the increase in the producnvity ofabor. If,
for exampe, a producer of wooden tabes increases productivity, then
tabes become cheaper. However, ony to the extent that the vaue of ta-
bes is a component of the vaue ofabor-power does this so cheapen
the vaue of abor-power. The eect is mnim, and in most cases aso
I 00 AN lNTKODUCTlON TO KAKL MAKX'5 AI1A
lcmQOt8y dc8ycd.s8nindicidua/moncelOtInCtc8sIn_QtOduClIVIly
lhIssm88ndunCctlmn8dV8nl8_cIsh8tdysumCIcnl.
oOmclhIn_ COmQclcy dIctcn| mOlIV8lcs IndIVIdu8 C8QIl8!Isls lO
InCtc8sc QtOduClIVIly. hc cxlcnl lO WhICh IndIVIdu8y cxQcndcd 8-
DOt-lImc COunls 8s V8uc-Ctc8lIn_8DOtdcQcnds [8mOn_Olhct lhIn_s]
uQOn Whclhct lhc "sOCI8y ncCcss8ty 8DOt-lImc [lh8l Is lhc 8DOt-
lImcncCcss8ty8t8sQcCIhCsOCI8yCOnVcnlIOn8cVcOllhcQtOduClIV-
Ily8ndInlcnsIly Ol8DOt: scc scClIOn. ] W8s cxQcndcd Ot nOl.1l lOt
cx8mQclhc sOCI8yncCcss8ty8DOt-lImctcQuItcdlOtlhcQtOduClIOn
Ol8sQcCIhClyQcOll8Dc8mOunls lO lcnhOuts8ndIl8Q8tlICu8tQtO-
duCctIs8Dc lOQtOduCclhIsl8DcIncI_hlhOutslhcnhch8sQtOduCcd
lhc s8mcV8ucIncI_hlhOuts lh8l OlhctQtOduCcts dOInlcnhOuts. mc
C8nlhctclOtcsc8QtOduClOlcI_hlhOutsOl8DOt8sIlIlW8slhcQtOd-
uClOllcnhOutsOl8DOt.
hIsIscx8ClylhcC8scIl8C8QIl8IslIslhchtsllOInCtc8sclhcQtOduC-
lIVIlyOl8DOtWIlhIn8Q8tlICu8tQtOCcssOlQtOduClIOn.Lcls8ssumclh8l
lOtlhcQtOduClIOnOl8sQcCIhC_OOds8y8Q8tlICu0tCOmQulctCOnsl8nl
C8QIl8cWIlh8V8ucOlXIsuscd.1n8ddIlIOn8WOtXd8yOlcI_hlhOuts
OldItcCl 8DOt Is ncCcss8ty lO 8sscmDc lhc COmQulct bOm Ils COmQO-
ncnls.hc d8IyV8uc Ol!8DOt-QOWctIs b8ndlhct8lcOlsutQusV8uc
Is QctCcnlsO lh8l lhcsutQusV8ucQtOduCcdd8IyDy8nIndIV:du8
8DOt-QOWctIs 8sO b.hc V8uc OllhcQtOduClIs lhctclOtc:
c*c* X *b*bO
OWcl's8ssumclh8l8Q8tlICu8tC8QIl8Isl[InIlI0y8s8nIndIV:du8]
suCCccdsIn tcduCIn_ lhcdItcCl8DOt-lImctcQuItcdlOtlhcQtOduClIOnOl
lhcCOmQulctltOmcI_hlhOuts lOlOuthOuts.hcV8uc OllhcCOmQulct
slI COnlODs lO sOCI8y 8Vct8_c COndIlIOns 8ndInIlI8ytcm8Ins8lO.
Lutsm8tl C8QIl0Isl hOWcVct nO On_cth8slO mQcnd V8tI8Dc C8QIlm
Inlhc 0mOunl OlbDult8lhctmctcyInlhc 8mOunl Ol+.mIsCOsts8tc
lhctclOtclh8lOl
X[COnsl8nlC8QIl0] *+[V0tI8DcC8QIl8] X+
THE CAFlTALl5T FKOCE55 OF FKODUCTON I 07
If he ses the product for 360,there then remains for ma surpus
vue of I20So in addition to the sociay conventiona surpus vaue of
80per computer, our capitalst rezes an extra surpus vaue of 40and
a rate of surpus vaue of 300percent instead of I00percent. This extta
suq/usca/ueor as the case may be ottato]t[see the remarks on pro6t
m section 5. I )and not the mture cheapening of abor-poweris the
capitaist's motivation for increasing de productivity ofabor.
This extra surpus vaue remains for de capitaist as ong as the new
method of production has not yet become generized. But if the meth-
od has caught on, it means that the sociay necessary abor-time for the
production of a computer has decreased. If in the meantime everything
ese has remained constant [the vaue ofabor-power, de vaue of the ee-
ments of constant capita, etc.), then the new vaue woud be:
c c s 200 40 40 280
The extra surpus vaue for our capitist disappears, and his rate of
surpus vaue is once again I00percent.
But et us remain with the capitaist who was the 6rst to introduce
the productivity increase. He no onger requres the same amount of im-
mediate abor-time to produce the same mass of products. He cm either
continue to produce the same amount as before but with fewer work-
ers, or produce a arger amount of products with the same amount of
abor-time and workers. The 6rst possibility is usuaIy not reaistic for
the capitaist, since de increase in the productivity ofabor is often ony
possibe when de voume of production increases at the same time [we
wretun to this interreationship in the next section). We can assume
that de increase mproductivity is usualy accompanied by an increase in
the number of products. The simpest way of seing the arger amount of
products consists in sinkng prices: the individua product is sod beow
its previous vaue. Even if our innovative capitaist sels beow the previ-
ous vue, he sti does not have to competey forgo the extra surpus
vaue. If, in de exampe above, he ses the computer [with costs of240)
for ony 350instead of 360,then he reaizes a tot surpus vaue of I I0,
which compared to the usua surpus vaue of 80is stiI an extra surpus
I 08 AN NTKODUCTION TO KAKL MAKX'5 A1A
Vauc Ol. ut lhc InCtca8cd tutnOVct lOt Out CagIl8I8t mc8n8Il nOth-
In_ c8c In thc cCOnOmy Chan_c8 lO DtIn_ aDOut an InCtca8cd tOl8 dc-
mandthal Olhct CagIlaI8t8 WhO Ohct thc 88mc gtOduCt WI 8c c88 and
In cxltcmc Ca8c8 _O DanXtugt. 1l thcy Wanl tO dclcnd lhcIt matXct 8hatc
lhcy 88O haVc tO 8c al a OWct gtICc. 1l thc mcthOd Ol gtOduClIOn tc-
maIn8 thc 8amc lhI8 WOud cad tO a tcduClIOn In thcIt 8utgu8 V8uc. hc
Othct CagItaI8l8 thu8 haVc nO Olhct ChOICc man lO taI8c thc gtOduClIV:ty
OlaDOt and tcduCc CO8t8 tO Xccg ug In thc gtICc COmgctIlIOn.
hu8 dOc8 COmgctIuOn COmgc CagItaI8t8 [aWay8 haVc In mInd
"CagItah8t tclct8 nOt ncCc88aIIy lO an OWnct Ol CagIla Dut tO CagIla gct-
8OnIbcd: 8cc 8cClIOn 9.2| lO _OIn In lhc InCtca8c In gtOduCtIVIly InIlIalcd
Dy 8nOthct CagIt8I8l cVcn Il at an IndIVIdua cVc lhcy haVc nO Inlctc8t In
an InCtca8In_ VaOIIZalIOn Ol CagIl8. hc inttinsic/auso]caita/,8uCh
a8 lhc lcndcnCy tOWatd cn_thcnIn_ lhc WOtXday and thc dcVcOgmcnl
Ol gtOduCtIV:ly atc Indcgcndcnt Ol mc VOItIOn Ol IndIVIdua CagIl8I8l8.
hc8c aW8 ImgO8c lhcm8cVc8 a8 iton/auso]cometition.oInCc caCh In-
dIVdua CagIlaI8l I8 lamIIat WIlh lhI8 gtc88utc hc nODay dOc8 nOl WIt
untI Il I8 ImgO8cd ugOn hIm Dy hI8 COmgclItOt8 Dut In8lcad attcmgl8 lO
Dc thc ht8l lO InCIca8c gtOduCtIV:ly 8O thal hc Can at ca8t haVc 8Omc Ol
lhc cxtta 8utgu8 V8uc In8tcad Ol _u8t mInImZIn_ hI8 O88c8. P8 a tc8ul
cVcty CagIlaI8l gut8 lhc 8CtcW8 On a! Othct CagIlaI8t8_u8t a8 hc hIm8cl
I8 8uD_cCt tO mc 8amc gtc88utc. Pd lhcy a dO lhI8 Dy lOOWIn_ a DInd
"Inhctcnt ncCc88Ily. OWcVct ltu_a lhc IndIVIdua CagIt8I8t hc CannOt
aD8taIn hOm thc hunt lOt gcIgcluay InCtca8In_ gtObla8 On_ a8 hc
WI8hc8 tO tcmaIn a CagIt8I8t.
5.3TeNethoso]PtoducingRe/aticeSuq/ula/ue
0ooetation,theDicuiono]La|ot,Nachinet
LagIt8I8l gtOduClIOn Dc_In8 Whcn a at_c numDct Ol WOtXct8
DIOu_hl lO_cthct undct thc COmmand Ol a CagItaI8t WOtX lO_cthct lOt
lhc gIOduCtIOn Ol lhc 88mc lygc Ol COmmOdIty. Pn OWnct Ol mOncy WhO
Datcy 8uCCccd8 In cmgOyIn_ tWO Ot thtcc WOtXct8 Dut WhO 8tI mu8l
COnlIIDutc tO thc aDOt gtOCc88 lO 8cCutc hI8 !IVcIhOOd I8 nOt a CagIl8I8t
THE CAFlTAL5T FKOCE55 OF FKODUCTlON I 09
In lhc 8lIICl 8cn8c Dul I8lhcI 8 "8mM m88lcI. c DcCOmc8 8 C8QIlMI8l
Whcn hc C8n OQcI8lc 88 C8QIl8 QcI8OnIhcd mc8In_ lh8l hc C8n dcVOlc
M hI8 lImc lO lhc OI_8n!Z8lIOn 8nd COnlIO O lhc C8QIl8I8l QIOCc88 O
QIOduClIOn 8nd lhc 8Mc O QIOduCl8.
hc coqetationo]manuotketsDIIn_8 8DOul cVcn WIlhOul 8 Ch8n_c
lO lhc lcChnICM COndIlIOn8 O QIOduClIOn 8 IcduClIOn In VMuc O QIOd-
uCl8. hcIc 8Ic lwO Ic88On8 OI lhI8. Lnc I8 lh8l m8ny mc8n8 O QIO-
duClIOn 8Ic u8cd In COmmOn 8O lh8l lhcy COnlIIDulc 8 8m8cI 8h8Ic O
VMuc lO lhc QIOduCl ( I00 WOIkcI8 mI_hl QIOduCc lcn umc8 mOIc lh8n
I0 WOIKI8 Dul lhcy WOnl nccd OI cX8mQc lcn lImc8 88 m8ny DuId-
In_8). hc OlhcI Ic88On I8 lh8l ncW QOWcI cmcI_c8 hOm lhc COOQcI8lIOn
O m8ny IndIVIdu8 8DOI-QOWcI8: 8 8I_c lIcc lIum C8nnOl Dc mOVcd Dy
8n IndIVIdu8 WOIkcI Ic_8Idc88 O hOw muCh lImc hc I8 _I8nlcd lO 8C-
COmQI8h lhc l88k Dul OuI WOIkcI8 Can mOVc lhc lIunk In8l8nly. cn
QcOQc 8II8n_cd In 8 Ch8In C8n lI8n8QOIl 8 O8d COn8IdcI8Dy 88lcI lh8n I
c8Ch IndIVIduM COVcI8 lhc dI8l8nCc On hI8 OWn 8nd 8O OIlh.
mIlhcI InCIc88c In lhc QIOduClIvIly OaDOI I8 8ChIcVcd lhIOu_h lhc
dicisiono]/a|ot. COmQcX 8DOI QIOCc88 I8 DIOkcn dOWn InlO 8 numDcI
O 8ImQc 8uDmnClIOn8. hI8 l88k C8n u8uMy Dc cXcCulcd 88lcI Whcn In-
dIVIdu8y QcIOImcd I8lhcI lhm QcIOImcd WIlhIn lhc h8mcWOIk O lhc
OVcIM QIOCc88. hIOu_h COIIc8QOndIn_ QI8ClICc 8nd cXQcIIcnCc WIlh
lhc 8uQQOIl O 8QcCIM lOO8 8d8Qlcd lO lhc8c 8QcCIM l88k8 lhc IndIVIdu8
WOIkcI 8QcCI8IZIn_ In 8 Q8IlICu8I l88k C8n DcCOmc cVcn 88lcI. hc lIQ
8Idc I8 lh8l lhc IndIVIdu8 aDOIcI DcCOmc8 8 8I_cy dcQcndcnl dcl8I 8-
DOIcI 8nd lhc mOnOlOnOu8 8lI8!n C8n c8d lO Qhy8IC8 8nd ncIVOu8 Im-
Q8IImcnl. n OQcI8lIOn In WhICh lhc QIOduClIOn QIOCc88 I8 D88cd uQOn
8n cXlcn8IVc dIVI8!On O8DOI Dul In Wh1Ch nO OI h8Idy 8ny m8ChInc8 8Ic
u8cd I8 IccIIcd lO 88 manu]actute.
l lhc Dc_InnIn_ O lhc lWcnlIclh Ccnlury lhc dIvI8IOn O aDOI W88
C8IIIcd lO lhc cXlIcmc8 In 8yOII8m n8mcd 8hcI lhc cn_InccI F. W.
8yOI. 8yOI DIOkc lhc mOVcmcnl8 O lhc aDOI QIOCc88 dOWn InlO lhc
8mMc8l ccmcnl8 In OIdcI lO 888I_n 8n IndIVIdu8 WOIkcI 8 8m8 num-
DcI O mOVcmcnl8. Imc W88lIn_ 8nd 8cCIcl DIc8k8 WOud Dc mInImIZcd
Dy lhI8 8y8lcm. OuCh COnCcQl8 WcIc 8QQIcd QIIm8IIy In 888cmDy-Inc
IOduClIOn. OWcVcI, lhI8 cXlIcmc OIm O lhc dIVI8IOn O 8DOI dId nOl
I I 0 A N lNTKODUCTON TO KARL MAKX'5 AJ1A
Ony btIn_ dVnl_c8 lOt CQIlM. n lhc C8c OlCOmQcx QtOduClIOn
COnCcHcdWIlh hI_h cVc OlQuIlyn OVcty 8ltOn_ dIVI8IOnOlbOt
QtOVcd lO bc rthct Ob8lruClIVc 8InCc Il QtOduCcd lOO muCh W8lc. n
lhc COut8c Ollhc dcVcOQmcnlOllhcCQIl:8lQtOduClIOnQtOCc88Inlhc
lWcnlIclh Ccnluty yOt:8m lhctclOtc cxQct:cnCcd bOlh dI88cm:nlIOn
ndCutlumcnl.
hc dcCI8IVc hcI_hlcn:n_ Ol mc QtOduClIVIly Ol 8DOt I8 Ch:cVO
lhtOu_h lhc u8c OlmChIncry. mChIDc I8 nOl mctcyt_c lOO.hl
I8 c88cnlI8I8 lhl lhc lOOI8nOOn_ctlOO:n lhc hnd8 OlnIndIVduN
bul lhl Il I8 lhc lOO Ol mcCh8nI8m. hc numbct OllOO8 thl Cn bc
8:mulncOu8y OQctlcd by mChInc I8 hccd hOm h COn8uInl.
mtlhct InCtc8c In QtOduCuVIly I8 Ch:cVcdWhcn IndIVIdu mCh:nc8
tc COmbIDcdlO lOHstemo]machinemllhc Ob_cClOlbOtQ88c8
lhtOu_h.P cnlctQt:8cb8cduQOnmChIncQtOduCuOnI8Ccd ]acto.
n mcChnIZcdlClOty 8IdchOm ClIVIlIc8 lhltcnOlyclmcCh-
nIZcd lhc tcmInIn_ l8K c lO humn8 I8 lhl OlmOu:lOtIn_ lhc m-
ChInc8 tcQIt:n_ lhc mChInc8 8lndIn_ by nd c:mInlIn_ mI8lKc
Cu8cdbylhcmChInc8.hI8I8nOlmndmcnlylctcdbylhc dcQOy-
mcnlOlCOmQulct lcChnOO_y. numbctOlmOnIlOtIn_ndCOnltO l8K
tc ulOmlcdbullhcCOnltOIn_COmQulcth8lO bcmOu:lOtcdndIl8
QtO_tmmIn_dQlcd lOChn_In_tcQuItcmcnl8.
hc dIV8IOn OlbOt In manu]actute QtOCccd8 hOm lhc tlI8n
8KI8 Ollhc bOtlOtCc. LQIl tcmIn8tcInluQOnlhI88ub_cClIVc 8K
cVcnIlIlI8 tcduCcd lO "dclIdclctIly. aLtorgb8cdmChIncQtOduC-
lIOnmndmcnl8yChn_c8lhu8:
3hI8 8uD_cCtIVc QtInCIQ!c olthc dIVI8Ion ol!8Dout no !on_ct cxI8t8 In
QtoduCtIon Dy m8ChIncQ. 1ctc, thc totM QtoCc88 I8 cx8mIncd oD_cC-
tIVc!y,VIcWcdIn 8nd lotIt8c!l, 8nd 8n8!y8cdInto It8 Con8tItutIVc Qh88c8.
3hcQtoD!cmolhoWto cxcCutc c8ChQ8ttICu!8tQtoCc88,8nd toDIndthc
dIhctcnt Q8ttI8!QtoCc88c8 to_cthct Into 8Whoc,I8 8oVcd Dy thc8Id ol
m8ChInc8ChcmI8tty,ctC.(0aita/,I:JI-2)
Ilh mChInc QtOduClIOn CQIlM CndclCh Il8clhOmlhc8QcCIM
8K OlIndIVIdu bOt-QOWct. ndIVIdu bOtct8 tc nO On_ct_u8l
THE CAPTAL5T FKOCE55 OF PKODUCTlON I I !
rcduccd to thc mnction oldctail aborcrs. Kathcr,wth thcprcscnccol
adcvcopcd,wc-mnctonng systcm olmachnc producton,laborcrs
mcmcrcappcndagcsolthis systcm.Jhcdomnatonolcapitaovcrthc
workcrsmatcrializcs,soto spcak,nthcmachncsystcm:
Everykindolcapitalistproduction,insolarasitisnotonIyaIabourpro-
cessbutaIsocapitaI'sprocessolvaIorization,hasthisincommon,butit
isnotmeworkerwhoempIoysthecondinonsolhiswork,butratherthe
reverse,theconditionsolworkempIoytheworker.However,itisonIy
wimthecomingolmachinerythatthisinversionhrstacquiresatechni-
calandpaIpabIereality.Bymeansolits conversionintoanautomaton,
theinstrumentolIa5ourconhontstheIabourer,duringtheIabour-pro-
cess,intheshapeolcapitaI,oldeadlabour,thatdominates,andpumps
dry,livingIa5our-power.(0aita/,J.548)
Coopcration,thcdivisionollabor,andthcuscolmachincrybring
aboutariscnthcproductivcpowcrollabor.wththcsamcamountol
labor cxpcndturc, alargcrnumbcr olproducts can bc produccd, so
thc vauc olthcndividua product sinks.Jhisrascdtoducticit o]
/a|otappcarsundcrcaptastcondtonsolproductonas thctoduc-
ticeoueto]caita/.Jhisisarcadythccascwthsimpc coopcraton.
snccndvdualabor-powcrsdonotdsposcolthcaddtonaproduc-
bvcpowcrarsnglromthcr coopcratonasndvduals,andonlyco-
opcratcundcrthccommandolcaptal,thcaddtionalproductvcpowcr
sccmstobcaproductivcpowcrbcongngtocapta.Jhs mprcsson
intcnsihcsn manulacturc and in thc lactory. ndvdual labor-powcr
s rcduccd to a submnction thatis amost compctcly usclcss outsidc
olmanulacturcandthclactory. Jhc lactthatworkcrs candoanything
atallwth thcrabiltcssccmstobca rcsult brought aboutby captaI.
Jhs appcarancc olcapitaas apowcr cndowcdwthts ownproduc-
tivcpowcrcanbcrclcrrcdtoasthc]etishismo]caita/.]ustaswththc
lctishism olcommodtcs, thc lctishsm olcapita is not mcrcy lasc
conscousncssorasimpcmsapprchcnson.tsloundatonsthccapi-
taistorganizatonolthcproductionproccss:
I 2 AN NTKODUCTON TO KAKL MAKX'5 A1A
The possibmty oF an inteIIigent direction oF production expands in one
direcnon, because it vanishes in many others. What is lost by special-
ized workers is concentrated in the capitaI which conhonts them. !t is a
result oI the division oF Iabour in manuFacture that the worker is brought
Face to Face wid the inteIIectuaI potentiaIities oF the material process oF
production as the property oF another and as a power which ruIes over
him. This process oF separation starts in simpIe cooperation, where the
capitaIist represents to the individuaI workers the unity and the wiII oF
the whoIe body oF sociaI Iabour. !t is developed in manuFacture, which
mutiIates the worker, tunng him into a hagent oF himseIt !t is com-
pleted in Iarge-scaIe industry, which makes science a potentiaIity For pro-
duction which is disnnct hom Iabour and presses it into the servce oF
capitaI. (0aita/,I.482)''
n Onc Ic8QcCl InCIca8In_ QIOduClIVIly Dy mcan8 OlImQcmcnlIn_
maChIncIy I8 mndamcnlay dI8lInCl hOm InCIca8In_ QIOduClIVIly Dy
mcan8 OlCOOQcIalIOnOIlhc dIVI8IOnOlaDOI. hc InlIOduClIOn Olma-
ChIncIy CO8l8 lhc CaQIlI8l8Omclmn_ and 8InCc lhc maChInc I8 u8cdIn
lhc CaQIl8I8lQIOCc88 OlQIOduClIOnIllIan8lcI8 Il8 Vuc lO lhc QtOduCl.
hI8 mcan8 lhalIn8lcad OlChcaQcnIn_lhc QIOduCl lhc u8c OlmaChIn-
cIy cad8 InIlIa!1y lO an InCIca8c In lhc V8uc Ollhc QIOduCl. AIn m a
ChcaQcnIn_Ol lhcQIOduClOnyOCCuI8WhcnlhcInCIca8cInVaucCau8cd
DylhclIan8lcIOl V8uchOmlhcmaChIncI8OVcICOmQcn8alcdlhIOu_han
aCCOmQanyn_IcduClIOnOlImmcdIalcaDOI-lImc.
Lcl8 a88umc lhalduIIn_lhc QIOduClIOn OlaQaIlICuaIQIOduClIaW
malctIa8 haVIn_ aVuc OlO aIc u8cd, a8 Wc a8 b hOuI8 OlaDOI-lImc
lhalundcInOIm COndIlIOn8 QIOduCcaVauc Olb.hcn lhc lOOWIn_
aQQIc8 lOIlhcVauc OllhcQIOduCl:
O [IaWmalcIIa8| *b[DOI-lImc| ~
^OWcl8a88umclhallhcQIOduClI8madcWIUlhc hcQOlamaChInc.
hcmaChIncha8aVaucOlZandCanDcu8cdlOQIOduCc IQIcC-
c8 unuIlI8 u8cd uQ. Vauc OlZ I8 lIn8lcIIcdu caChIndIVIduaQIcCc.
hc IndIVIdumaChInc-QIOduCcd QIOduClImuay InCIca8c8InVauc Dy
THE CAFlTALl5T FKOCE55 OF FKODUCTlON I I 3
20. lhOuI8OlaDOIaIc8aVcd,8OlhalIn8lcadOlbOny5 hOuI8aIcncCc8-
8aIylhcnUcV8ucOllhcmaChInc-QIOduCcdQIOduCladd8uQlO:
50 [IaWmalcIIa8| *20 [maChInc| * 50 [aDOI-lImc| - I20
hcQIOduClha8DccnIcduCcdInVa!ucDy I0 unIl8lhc20 addIlIOna
ul8 OlVa!uc Ic8u!lIn_ hOm lhc u8c OlmaChIncIyhaVc Dccn OVcICOm-
Qcn8alcd Dy CullIn_ dOWn On lhIcc !aDOI hOuI8. lOny Onc 8DOI hOuI
hadDccn 8aVcdlhcnlhcVauc Ollhc maChInc-QIOduCcdQIOduClWOud
haVcII8cn lhcmaChIncWOu!dnOlhaVc COnlIIDulcd lOIaI8In_QIOduClIV-
Ily and ChcaQcnIn_lhcQIOduCl.
ullOIlhc CaQIl8I8lu8c OlmaChIncIy IlI8nOl8umCIcnllhallhcu8c
OlmaChInc8 _cncIa!y ChcaQcn8 lhc QIOduCl. hc CaQIla!I8lI8 nOlInlcI-
c8lcdInlhcca/ueOlaQIOduClDulIalhcIInsuq/usca/ueOIQIOhl,a8lhc
Ca8cmay Dc. [occIcmaI8In8cClIOn 5. I.) P8 dcmOn8lIalcdInlhcQIcVI-
Ou8 8cClIOn lhc CaQIla!I8lInlIOduCc8 an InCIca8c InQIOduClIvIly 8O lhal
hI8 IndIVIdu8 CO8l8 aIc !OWcIlhan lhc 8OCIaaVcIa_c,8Olhalhc nOl On!y
ODl8In8lhc nODa! 8uIQu8VaucDulancxlIa8uIQu8 V8uc [cxlIaQIOhl|.
OW!cl8 a88umc aIalcOl8uIQu8Vauc OlI00 QcICcnl lOI lhc cxMQ!c
aDOVc. hc WOIkcIWhO !MOI8 lOI cIl hOuI8 and CIcalc8 aV8uc OlbU
IcCcIVc8 a Wa_c Ol40. hc IcmaInIn_ 40 I8 lhc 8uIQ!u8 Va!uc ODlmncd
Dy OuICaQIlaI8lQcIQIOduCl. clOIc lhc InlIOduClIOn OlmaChIncQ, OuI
CaQIlaI8lha8 CO8l8Ol:
50 [IaW malcIIa8| * 40 [Wa_c8lOIbhOuI8| -90
PhcIlhcInlIOduClIOnOlmaChIncIy, lhcCaQIl8I8lha8CO8l8Ol:
50 [IaWmalcIIa8| *20 [maChInc| * 25 [Wa_c8lOI5 hOuI8| ~95
PlhOu_h lhcmaChIncIcduCc8lhc tota/exendituteOlaDOI lOI lhc
QIOduClCOnCcHcdIlwnOlDcInlIOduCcd,8InCcIldOc8nOl88OIcduCc
lhccostlOIOuICaQIla!I8l.hc8c CO8l8w hI8lDcIcduCcdWhcnmOIcI8
8aVcdInWa_c8[QcIQIOduCl|lhanlhcVauclIan8lcIIcdDylhcmaChInclO
lhcIndIvIdu8QIOduCl. lInOuIcxamQ!clhcVa!uclIan8lccdDylhca-
I I 4 AN lNTKODUCTON TO KAKL MAKX'5 A1A
Ch:ncI8 ZlhcnmOIclhnlOuIhOuI8OlbOIhVc lO bc8VcdInOIdcI
lOI lhc ImQcmcnllIOn Ollhc mChInc lO bc WOIlhWh:c. LI cxQIc88cd
nOlhcIWy lhcadditiona/constantcaita/c,WhIChI8 cxQcndcd Onlh0
IndIVIdu QIOduCl duIIn_ mCh:nc QIOduClIOn h8 lO bc c88 lhn lh0
catia|/ecaita/cWh:ChI8 Cul dOWn lhIOu_hlhcIcduClIOnInbOI-mc.
bO lhc CQIlI8lw nOl IbIlIIIy cxQcnd Ol OlddIlIOn COn8lnl
CQIlQcIIlICcbulmxImycxQcnd8 muCh 8 hc I8 8c lO 8Vcm
VII8bcCQIlQcIIlICc.
hclhcI OInOlQIlICuImChInc [WhICh lIn8lcI8 8QcCIhCQOI-
uOn OlIl8 Vuc lO lhc IndIVdu QIOduCl] I8 InltOduCcd lhcIclOIc dc-
Qcnd8 uQOn hOWmuCh VIIbc CQIl I8 8Vcd. ul lhc VIIbc CQIl8
8Vcd dOc8 nOl 8Ocy dcQcnd uQOn lhc bOI hOuI8 8Vcd bul8O uQOR
lhccVcOlW_c8.1n OuIcxmQc bOVclhcWOIKcI8 IcCcIVcd W_c O
+lOIn b-hOuIWOIKdyWhIChmOunl8 lO QcIhOuI.hcbOIhOuI
8Vcd dduQ lO 8VIn_ Ol VtIbcCQIlIn mc mOunlOl1 8O lhl
lhc InlIOduClIOn Ollhc mChInc W8 nOldVnl_cOu8 lOI lhc CQIlI8l.
1lW_c8 hd bccn hI_hcI lOI cx8mQc b QcI hOuI lhcn lhc lhIcc bOI
hOuI8 8Vcd WOud Ic8ul In lOl8V:n_8 OlZ+.Pl lh:8 cVc OlW_c8
lhc ddIuOn COn8lnl CQIl [Z] WOud hVc bccn COmQcn8lcd by
lhc 8VcdVIIDc CQIlnd OuI CQIlI8l'8 CO8l8WOud hVc bccnIc-
duCcd. hc 8mc mChInc lhl l OW-W_c cVc bIIn_8 nO 8V:n_8 In
CO8llOIlhcCQIlI8lI8lhcIclOIcnOlInlIOduCcd.1OWcVcIlhI_hcVc
OlW_c8IlIcduCc8CO8l8ndI8InlIOduCcd.
5.4TheDesttucticePotentia/o]the0aita/istDece/qment
o]theFotceso]Ptoduction
hcCOOQcIlIVcbOIQIOCc88IcQuIIc8 COOIdInlIOn.1nlhc CQIlI8l
QIOCc88 OlQIOduClIOn lhc CQIlI8l88umc8 lhI8 COOIdInlOI mnCuOn.
1OWcVcIdIIcClIOnbylhcCQIlI8ldOc8nOl _u8lmm lcChnIC-OI_m-
ZlIOnmnCuOn8IlI8 M8O lhc OI_nIZl:On OlcxQOIll:OnndI8 lhcIc-
lOIc COndIlIOncd by lhc nl_OnI8m bclWccn cxQOIlcI nd cxQOIlcd
Wh:Chcd8 NOlO lhcCOnCu8IOnlhlCQIlI8ld:tcClIOn"InlOtmIlI8
QuIcydc8QOlIC[0aita/,1 :+].Ilh I_cnumbcIOlWOIkcI8lhcIc
THE CAFTALl5T PKOCE55 OF FKODUCTON 1 1 0
u 8 nCCd lOt8ImI8t lO lhC mIIl8tyIndu8ltI8 COmm88IOnCd OmCCt8
MdQCllyOmCCt8WhOCOmm8ndInC8QIl8'8n8mC.
hC lOD Ol m8n8_CtI8 hICt8tChy h88 undCt_OnC 8OmCWh8l l8t-
tC8ChIn_Ch8n_C8InlhC lWCnlIClhCCnluty.L8QIl8I8ldC8QOu8mh88CXQC-
HCnCCd COn8u8nl8 lhtOu_h C_8 tC_u8lIOn8On lhCOnC h8nd 8ndlt8dC
unIOn b8t_8InIn_ QtOCCdutC8 On lhC OlhCt. LutIn_ lhC 88l dCC8dC In 8
numbCtOlIndu8ltIC8lhCtCh88bCCn8 lCndCnCybyC8QIl8 lO 8uCn_lhCn
lhC8ulOnOmyOlCmQOyCC8OVCtlhC8bOtQtOCC88.OWCVCtmtOu_hOul
M OllhC8CCh8n_C8lhC 8Im OlC8QIl8I8lQtOduClIOn~lhC V8OtIz8lIOn Ol
C8QIl8 lhC QtOduClIOn Ol8utQu8 V8uCW88 nOl CMCd InlO guC8uOn.
hC8CV8tIOu8Ch8n_C88lI 8CrCd8OCylO 8CCOmQI8hlhI8M. nd In
lhC C88C Ol8kICdlt8dC8IlhCguCnUyQtOVCdlObCmOtC8dV8nl8_COu8 lO
mOlIV8lC CmQOyCC8 lO VOunl8tuy btIn_ InlhCItCXQCtICnCC8 8ndQCtlOt-
m8nCC C8Q8bIIuC8lhtOu_h8hI_hCVCOl8ulOnOmy t8lhCtlh8nlOtCIn_
lhCmlO dO8OmtOu_h COn8l8nlQtC88utC8nd8uQCtV8IOn. ullhCCOn8C-
guCnCC8OllhI88ulOnOmylOtCmQOyCC88tCu8um y_u8l88dC8lHClIVC88
lhCOddC8QOuClOtm8CXCCQllh8llhI8dC8ltuClIOnI8nOW8Cl-Ot_8nIzCd.
hC dC8ltuCuVC [lOt8bOt-QOWCt| lCndCnCIC8 OlC8QIlMI8lInCtC88C8 In
QtOduCuVIly8tCImmCdI8lCyVI8IbCInlhClCndCnCylOW8td clCn8IOn8nd
tCCCnUy"lCbmz8lIOnOl8bOt-umC.8In_QtOduCuVIlymC8t\8lh8llhC
88mC8mOunlOlQtOduCl8 C8nbCm8dCIn8 8hOtlCt QCtIOd OllImCbulun-
dCtC8QIl8I8lCOndIlIOn88tI8CInQtOduClIVlydOC8nOlC8dlO88hOtlCnIn_
Ol8bOt-mC. t8tlICu8tyWhCnlhCtI8CInQtOduClIVIlyI8 8ChICVCdbylhC
InltOduClIOnOlm8CmnCtylhCtC8ulI8 8Cn_lhCmn_ Ol8bOt-lImC88WC!
88 8hI- 8nd nI_hl-WOtkIn OtdCt lO 8CCOmQI8h lhC On_C8l QO88IbC tun
lImClOtlhC m8ChInC.hCtC8tCm8nytC88On8 lOtlhI8.
8 On_ 88 lhC nCW m8ChInC h88 nOl yClbCCOmC lhC 8OCIM 8l8nd8td
mC C8QIl8I8lWhO CmQOy8IlInQtOduClIOn tC8IzC88nCXlt88utQu8V8-
uC. hC mOtC QtOduCl8 hC QtOduCC8 8nd 8C8 In lhI8 CXCCQlIOn8 8Ilu8-
lIOn lhC _tC8lCt lhI8 CXlt8 8utQu8 V8uC. llhC u8C OllhC m8ChInC 8lCt
bCCOmC8Q8tlOllhC8OCI8y8VCt8_CCOndIlIOn8OlQtOduClIOn 8On_tun
umC lOt lhC m8ChInC I8 8lI 8n 8dV8nl8_C. OW On_ lhC m8ChInC C8n
bC QtOhl8by u8Cd dCQCnd8 nOl Ony uQOn Qhy8IC8 WC8t Md lC8t bul
M8OuQOnWhClhCt8nCWCtbCllCtm8ChInCI8 OnlhCm8tkCl.hCl88lCt8
m8ChInClt8n8lCt8Il8VMuClO lhCQtOduCl8IlhCQ8lO QtOduCClhCOWCt
! I 0 AN lNTKODUCTlON T O KAKL MAKX'5 AI1A
the risk that it has to be repaced by a newer, better machine before it
has transferred its tota vaue. !f the engthening of the workday runs up
against imits set by aw or coective bargaining, then the capitaist usua-
y attempts to impose an intensi6cation of work, such as through a higher
machine speed.
Since the production process is detached 6om the imitations of in-
dividua abor-power and becomes the obect of scienti6c Cination aa
an obecuve process, moden industry never views or treats the exist-
ing form of a production process as the de6nite one. !ts technica basis
is therefore revouuonary, whereas a earlier modes of producuon were
essentimy conserative" [0aita/,: I7). The technica foundations of
production are constanty revouuonized, the producuvity of abor con-
stanty increased. !ncreasing pro6t is the soe mouvaung factor for mis. !n
the course of this process, massive investments are made to acquire new
machines or constnct new production faciities. !nsofar as this invest-
ment seres to reduce the cost of the product, they count as necessary.
!nvestments that sere to make working conditions for empoyees more
comfortabe or even ust to minimize dangers to heath and safeq consu-
tute deductions 6om pro6t and are avoided. Even today one can obsere
in many sectors:
3hc cConomIC8 u8c ollhc 8oCI8 mc8n8 olQtoduClIon m8lutcd 8nd
lotCcd 88 In 8 holhou8c Dy lhc l8Clory 8y8lcm I8 luDcd In lhc h8nd8
olC8QIl8Inlo 8y8lcm8lICtoDDctyolWh8lI8ncCc888tylotlhcl1lc ollhc
WotKctWhIc hc I8 8lWotK I.c. 8Q8Cc1_hl 8It 8nd QtolcClIon 8_8In8l
lhcd8n_ctou8otlhcunhcMlhyConComIl8nl8ollhcQtoduClIonQtoCc88
nol lo mcnlIon lhc lhcll ol8QQI8nCc8 lot lhc Comlotl ol lhc WotKct.
(0aita/,I. 552-3)
Lega coercion or the decisive resistance of empoyees is constanty nec-
essary in order to impose even the simpest improvements in workng con-
ditions. The foIowing statement by Nis of contemporary reevance:
Yh8l Coud Dc motc Ch8t8ClctI8lIC ollhc C8QIlMI8l modc olQtoduC
lIonlh8nlhcl8Cllh8lIlI8ncCc888ty DyClol8tI8mcnllolorCcuQon
THE CAF!TALl5T FKOCE55 OF FKODUCTlON
the capitaIsts the simplest applimces For maintaining cleanliness and
health? (0aita/,1: 11
I I 7
hc 8Oc Im OlCQIlI8l QtOduCtIOn I8 lhc COn8lnl QtOduClIOn Ol
8utQu8Vuc.LOmQctItIOnlOtCc8 dcIndIVIdu8CQIlm8lOnQInOlm8
tuIn8 CQIlI8llOmkclhchunllOtInCtc8In_8urQu8VuclhcIm
OlhI8 ClIVIty. 'atMt_u8l:kc DOt-QOWct I8mctcy n In8ttumcnl lOt
llInIn_ lhI8 _OM. n CCOtdmCc WIlh Il8 IDltIn8IC O_C CQIl I8_u8l
8 IndIhctcnl lOWtd lhc dc8ltCtIOn Ollhc nlut8 lOunduOn8 OlIlc
[lhtOu_h W8lc tunOhnd cxhu8l mmc8 lhtOu_h lhc dc8ltuCuOn nd
QOI8ODIn_OlcnlItc tc_IOn8| 8 IlI8 lOW81d lhcdc8ltClIOnOlIndIVIdu
DOt-QOWct. Ody n Indu8ltI8 mOdc OlQtOduClIOn D8cd uQOn lhc
COmDu8lIOnOllO88:mc8I8mInlIncdndcxQndcdcVcnthOu_hOC
8 Wc 8 _OD cCOO_IC dc_tdtIOn8 tc8ul OlCImlcChn_ctc
lOtc8ccDc.
hI8dc8ltuCtIVcQOlcnuOllhc CQIlI8ldcVcOQmcnlOllhc lOtCc8
OlQtOduClIOn Cn OnyDc tc8ltIncd "hOm Oul8IdclhtOu_hlhc tc8I8-
lnCc OlWOtkct8 Ot thc QOWct Ollhc 8llc. 1l8uCh tc8ltInl8 tc nOl In
QCcOtIllhcy tcWckcncdlhI8 dc8ltuCuVcQOlcntIImmcdIlcy 8-
8ctl8Il8cl_mn8ltOn_ctlh8DDclOtc. 1lI88tIltuclhl
capitalist production, thereFore, only develops the techniques and the
degree oF combnation oF the social process oF producuon by simultane-
ously undermining the original sources oF M wealththe soil and de
worker. (0aita/,1:Jb)
1n lhc lCc Ollhc 8Cc OlcnVItOnmcnl dc8ltuCtIOn nd dn_ct lO
hcth cmntIn_ hOm lhc Indu8ltI mclhOd OlQtOduClIOn VI_Ot-
Ou8 dcDlc OCCuttcd dutIn_ lhc 8l lhItd Olthc lWcntIclh Ccnluty 8 lO
WhclhctlhI8dc8ltuClIOnI8 InltIn8IC lO lhc mlctI COndIuOn8 Olin0-
ttia/QtOduCtIOnOtWhclhctIlI8 lhccaita/istCOndItIOn8thlht8lDtIn_
lOtlh 8uChCl8 Oldc8ltuCtIOn.
hctc I8 nO cxQICIl dI8Cu88IOn Ol lhI8 QtODcm In %O'8 WOtk.
mOWcVcthc cmQh8Izcd thl d8tInCtIOn mu8l Dc mdc "DclWccn thc
InCtc8cdQtOduClIVItyWhIChI8 duclOthcdcVcOQmcnlOllhc8OCI8QtO-
I I 8 AN NTKODUCTlON T O KAKL MAKX'5 AI1A
cess of production, and that which is due to the capitahst epoitation by
the capitmists of that deveopment" [0aita/,I :54 7). Thus Man was of-
ten accused of regarding the industria production process itseIf" posi-
tivey and criticizing omy its capitmst shelI. This was aIso me position o
Marxism-Leninism. Accordingy, in the Soviet Union capitaist methods
of production were to some extent adopted competey uncriticaly [as
a criuc of the corresponding interpretation of Marx, see ]acobs, I997).
Today it is Er cIearer than in Man's time that not every industriaI
process of production simpy has to be detached 6om its capitaist ap-
pIication to suddeny deveop its pureIy bene6cia eects. Some ines
of deveopment of industriaIizauon are not ust destructive as a resut of
their capitaist appication: if atomic energy were put to use in a sociaist
society, then the risks woud stiI be enormous, and the widespread use of
fossi meIs woud stil ead to cimate change. The destructive potentia of
capita does not ust assert itsef in the way a technoogy is a/ied,but in
the choiceof particuIar technicm-industria athso]dce/qment.
5.5Foa/andRea/Su|sumtion,Fotdism,
Ptoducticeand 0ntoducticeLa|ot
In the case of an aready existing abor process being subordinated
to capita, Man speaks of the ]otma/su|sumtiono]/a|otundetcaita/.
The soe dierence 6om pre-capitaist conditions consists in the fact that
aborers work for a capitaist rather than for themseves. The coercive
reIation of capita expresses itsef simpy: the aborer works onger than
is necessary for his own sef-preservation, and the capitaist appropriates
the surpus vaIue thereby generated. On the basis of forma subsumption,
omy the production of absoute surpus vaue is possibe.
!f the abor process is transformed in order to increase productivity,
M speaks of the tea/su|sumtion o]/a|otundetcaita/.The abor
process under the command of capitaI is not ony formay distinct 6om
the pre-capitaist abor process, it is distinct in its entire organization and
structure. the capitalist mode of production creates the materia guise of
production corresponding to its socia fon. Rea subsumption is pos-
THE CAFTAL5T FKOCE55 OF FKODUCTON I I 9
sibeonthebasisoFFormasubsumption.WithmerealsubsumptionoF
laborundercapita!,theproductionoFreativesuqlusvaueisposse.
Uptinow,whenconsidengreativesuqusvauewehaveassumed
thatthequantitativeamountoFmeansoFsubsistencenecessarytorepro-
duce labor-power (or theFamiyoFmea5orer,as the case maybe) re-
mainsconstant,thatthestandardoFivingFortheworkingcIassdoesnot
change.utthisisnotnecessariythecase.
Let'sassumean 8-hourworkdayandarateoFsurpusvaueoFI00
percent. Then the workday breaks downinto Fourhours oFnecessa
labor-timeusedtoreproducethevmueoFabor-power,andFourhoursoF
surpluslabor-timeinwhichsurplusvaueisproduced. Let'sassumemr-
therthatthemonetaryexpressionoFthevmuecreatedineighthoursun-
dernormaconditionsis I0 euros,thedai!yvmueoFabor-poweris80
euros,andtheamountoFsurpusvaueproduceddailyisaso80euros.
Nowet'ssaytheproductivityoFaborinMbranchesoFtheeconomy
doubles. ThenM goods can be produced inhaFthe timepreviously
required,andtheirvalueisreducedbyahal.ThedaiyvaueoFla5or-
power is then ready produced in twohours ratherthan Four, its
6om 80 to 40 euros.Two additionahours remainFortheproduction
oFsurplusvalue,itsmagmtudeisraised6omFourtoshour,andthe
suqusvaluerises80to I20 euros.ThevalueoFabor-powerhasbeen
reducedby ahaF6om 80 to 40 euros,butFor40 eurosustas many
means oFsubsistencecan be purchasedaspreviouslyFor80 euros,and
thestandardoFlivingFormeworker'sFamiyhasremainedconstan.
Nowlet's assume mrther matworkers succeedasaresutoFlabor
struggles oranghtlabormarket,Forepleinobtaimngaswagesnot
ustthevauecreatedintwohours,butmevauecreatedinthree,0 euros
insteadoF40 euros.Intiscase,thevaueoFlabor-powerwoudhavest
declined(6om80euros to 0 euros),thesuqusaborwoudhaves
increasedbyhour(6omFourtohvehours,thesuqusvauenowbe-
ingI00 euros),butnowmestandardoFivingFortheworker'sFami!yhas
increased.SincemevueoFmes oFssistencehasbeenreducedby
haIFasaresultoFthedoubingoF producnvty,theworng-classhousehold
nowhasatitsdisposanotusthF,butmree-FourmsoFthepreviouswage.
!Fourworking-dasshousehodcbuyustasmymesoFsubsistence
I 20 AN NTKODUCTON TO KAKL MAKX'5 AJ1A
lOt40 cutO8a8IlCOudDclOtclOtbcutO8Dulha80 cutO8alIl8dI8QO88
lhanIlL InCtca8c lhcVOumc Olmcan8 Ol8uD8I8lcnCcDy 50 QctCcnl. Lt
lO cxQtc88mI8InlcD8lhalatcCOnVcnlIOn8lOday:nOmInaWa_c8 [mcan-
In_ Wa_c8 cxQtc88cd In mOncy| haVc cn Dy 25 QctCcnl [hOm 80 lO 0
cutO8|Dul tca Wa_c8 [Wa_c8 cxQtc88cd a8 QutCa8In_ QOWct| haVc tI8cn
Dy 50 QctCcnl[50 QctCcnlmOtc _OOd8 CanDcQutCha8cd|.
P8anchcClOllhcInCtca8cInQtOduClIVIly atiseinthestandatdo]/ic
ingo]theuotkingcmssha8 aCCOmQanIcdanincteaseo]thesut/usca/ue
atotiated| thecaita/ut.P dcCInc In lhc Vauc OlaDOt-QOWct 8I-
mulancOu8 lO an InCtca8c Ollhc 8utQu8 Vauc QtOduCcd Dy IndIVdu
aDOt-QOWct mcan8 lhal lhc talc Ol8utQu8 Vaucs/c,and WIlh Illhc cx-
QOIlalIOnOlaDOt-QOWctha8 InCtca8cd.Incteasedex/oitation[mcan:D_
lhal a _tcalct QOtlIOn Ollhc WOtKday COn8I8l8 Ol8utQu8 aDOt| and an
incteasedstandatdo]/icing ]ttheuotkingc/assatclhctclOtcnOlmulu-
aycxCu8IVc.
Inay In Out 0amQc a 8hOtlcnIn_ OlaDOt-lImc I8 a8O QO88IDc.
Lcl8a88umclhallhcdaIyaDOt-lImcI8 tcduCcdhOm b hOut8 lO 1..1l
aDOt-QOWct8l:tcCcIVc8 0 cutO8[lhcVaucCtcalcdInlhtcchOut8|4.5
hOut8 tcmaIn a8 8utQu8 aDOt-lImc [halan hOutmOtc lhan DclOtc lhc
QtOduClIVIly InCtca8c| lhc 8ugu8 Vauc WOud Dc 90 cutO8 [ I0 cutO8
mOtc lhanDclOtc lhcQtOduClIVIlyInCtca8c|.
hc cxQc _u8l OulIncd COttc8QOnd8nOl In lctm8 Olan cxaCl
QuanlIlalIVc tcalIOn8hIQDul In lctm8 OlIl8 lcndcnCylO lhc COut8c Ol
dcVcOQmcnlInlhcadVanCcdCaQIlaI8lCOunltIc8.hclaCllhallhcWOtK-
In_Ca88Inlhc8cCOunltIc8ha8 ahI_hct8landatdOlIVIn_lhanIldId blly
Ot a hundtcdycat8 a_O In nO Way mcan8a8 I8 COn8lanUy M c_cd~lhal
cxQOIlalIOn ha8 tcCcdcd Ot cVcn dI8aQQcatcd. n lhc QtcVIOu8 ChaQlct
Wc atcady nOlcd lhal cxQOIlalIOn dOc8 nOlmcan a QatlICuaty Dad Ot
mI8ctaDc 8lalc OlahaIt8 Dul lhal WOtKct8 Ctcalc a at_ct 8um OlVauc
lhanlhalWhIChlhcytcCcIVca8Wa_c8.hctalcOlcxQOIlalIOnI8nOlmca-
8utcdDylhc8lDdatdOlIVIn_DulDy lhctalcOl8utQu8Vauc.1lI8QuIlc
QO88IDc lhalatI8cInlhc8landatd OlIVIn_and8hOtlcmn_OlaDOt-lImc
aCCOmQanIc8 anInCtca8cIn8utQu8Vaucand lhctalcOl8utQu8Vauc.
hcdynamICcmanalIn_hOmlhcQtOduClIOnOltcauVc8utQu8Vauc
OulIncd aDOVc [aCCcctalcd lcChnICa dcVcOQmcnl a tI8In_ 8landatd Ol
THE CAFTALl5T FKOCE55 Ol FKODUCTON I 2 I
bVtn_ Ol thC WOtKtn_ CI888 8tmut8nCOu8 tO tt8tn_ QtOb.t| t8 8ub_CCt hOW-
CVCt tO 8 QtCCOndtltOn nOt htthCttO 8ddtC88Cd: thC m8_Ottty Ol mC8n8 Ol
8u8t8tCnCC COn8umCd tn thC WOtKtn_-C888 hOu8ChOd h8VC tO bC C8Qt-
tmt8ttCmy QtOduCCd. 8 On_ 88 WOtKtn_-C888 hOu8ChOd8 8lt QtOduCC
8 8t_C QOtttOn O thCtt mC8n8 Ol 8ub8t8tCnCC thCm8CVC8 Ot Obl8In thCm
hOm tndCQCndCnt 8tmCt8 8nd 8ttt88n8 thC QtOduCttVIty tnCtC88C tn C8Qt-
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btC8KdOWn Ol mC 8bOt QtOCC88 Cnty Otd Wtth ht8 8utO l8CtOtIC8 8uC-
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m888 QtOduCt On thC 888Cmby ItnC, COn8tdCt8by tCduCtn_ thC CO8t Ol thC
QtOduCt 8nd mtn_ tt tntO 8 COn8umCt _OOd lOt btO8d 8CCttOn8 Ol thC
QOQu8tIOn. t thC 88mC tImC Otd t8t8Cd W8_C8 [8t C88t lOt 8 CCtt8tn
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thC 8VCt8_C lOt th8t ttmC, tn OtdCt tO tCduCC tutnOVCt tn thC 8bOt lOtCC.
Ct thC bCCOnd Otd 8t Otdt8m W88 C8t8bt8hCd 8CtO88 thC bO8td:
COn8umCt _OOd8 8uCh 88 C8t8 tCht_Ct8tOt8 W88htn_ m8ChtnC8, 8nd tCC-
vt8tOn8 WCtC COn8l8nty ChC8QCnCd thtOu_h 8yOtt8m 8nd 888Cmby-IInC
QtOduCtIOn but tC8 W8_C8 tnCtC88Cd. btnCC thC V8uC Ol 8bOt-QOW-
Ct dCCItnCd dC8QttC tt8tn_ tC8 W8_C8 8 tt8C In QtOht W88 8tI QO88tbC.
bt8nd8tdtZCd m888 QtOduCttOn 8n CXQm8tOn Ol m888 COn8umQuOn 8nd
tt8tn_ QtOht WCnt h8nd-tn-h8nd lOt _u8t 8bOut tWO dCC8dC8 8nd WCtC 8n
tmQOtl8nt tl nOt thC 8OC b88t8 lOt thC ittchatuundet[LCOnOmtC
%tt8CC| Ol thC QO8tW8t Ct8 tn LCtm8ny 8nd 8OmC OthCt COuntttC8 tn
C8tCtn LutOQC 8nd Otth mCttC8.
hC 8tm Ol thC 8bOt QtOCC88 COn8tdCtCd tndCQCndCnty hOm tt8
CCOnOmtC lOtm-dCtCtmtn8ltOn, COn8t8t8 tn thC QtOduCuOn Ol 8 8QCCthC
u8C-V8uC. tOm thC 8t8ndQOtnt Ol lhC 8bOt QtOCC88 thC 8bOt th8t CtC-
8tC8 tht8 u8C V8uC [Ot t8 tnVOVCd tn tt8 CtC8ttOn| t8 QtOduCttVC 8bOt. hC
M Ol thC C8QttM8t QtOduCttOn QtOCC88 COn8t8t8 tn thC QtOduCttOn Ol
8utQu8 V8uC. tOm thC 8t8ndQOtnt Ol lhC C8Qttmt8t QtOduCuOn QtOCC88
Ony 8bOt th8t QtOduCC8 8utQu8 V8uC t8 toductice/a|ot.hCn tn Wh8t
I 22 AN lNTKODUCTON TO KAKL MAKX'5 A1A
lOOW8WcdI8Cu88QIOduCtIVc8DOI thI8 C8QIt8I8tmc8nIn_I8 Intcndcd
unc88 OthcIWI8c8QcCIhcd.
hcthcI 8 8QcC:hC t_c Ol8DOI cXQcnd:IuIc I8 QIOduCtIVc 8DOI In
thc C8QIt8:8t 8cn8c dOc8notdcQcnd uQOn thc COnCIctc Ch8I8CtcI Olthc
8DOI Dut uQOnthcCOnCIctccCOnOmICCIICum8t8nCc8InWhIChIt OCCuI8.
l D8kc 8 QIZZ8In OIdcI tO c8tItmy8clOI OhcI It tO my hIcnd8 thcn
h8VcCIc8tcd8u8cV8ucDutnOt8COmDOdIty [thcQIZZ8I8nt 8Od|8nd
lOI th8t Ic88Onh8Vc 88O nOt QIOduCcd 8ny V8uc OI8uIQu8V8uc.ut
IlhIIcd 88 8COOkIn 8C8QIt8I8t Ic8t8uI8nt8ndu D8kc8QIZZ8th8l
I8 c8tcn Dy Q8yIn_ _uc8t8 lhcn h8Vc nOt OnyQIOduCcd V8uc Dut 88O
8uIQu8V8uc8nd mthI8 Ic8QcCtmy8DOIW88 "QIOduCtIVc.
hcthcImy8DOII8QIOduCtIVcI8nOtdcQcndcnt uQOn dcCh8I8CtcI
OlIhc u8c V8uc QIOduCcd Dut uQOn WhcthcI QIOduCc 8 COmmOdIty
th8t M8O COnt8:n8 8uIQu8 V8uc. P8 QOIntcd Outm 8cCtIOn 3. I, nOtOpy
m8tcII8QIOduCt8 Dut8cIVCc8In8Ol8I88lhcy8Ic 8Od 8IcCOmmOU:IIc8.
n 8C8QItMI8tthc8tcI thc 8CtOI8 8Ic lhcIclOIc_u8t 88 muCh "QIOduClIVc
8DOIcI888 8tccWOIkcI8 WhO WOIkm 8 C8QIt8I8t8tccm .hcthcIOI
nOt8 Q8ItICu8I 8ItICc I8 "Ic8by u8cm lOI thc IcQIOduCuOn Ol8OCIcty
88O dOc8 nOtQ8y8nyIOcIndctcImInIn_It8 Ch8I8CtcI 888 COmmOdIty.
PuuIy y8Cht 8VIdcO COmmcICI8 OI t8nk8 8Ic 8lCOmmOdItIc8 Ilthcy
ht1d 8 DuycI. Pnd Ilthc8c 8Ic QIOduCcd undcI C8QIt8I8t COndItIOn8thc
8DOIcXQcndcd duIIn_ thcII QIOduClIOnI8"QIOduCt:Vc8DOI.
nOIdcI tO QcIlOIm QIOduCtIVc 8DOIm8C8QIt8:8t8cn8ch8Vc tO Dc
8W8_c-8DOIcI. OWcVcIIhc OQQO8Itc I8 nOtncCc888IIydc C88c.OtcV-
cIyW8_c-8DOIcII88utOm8uCM y8"QIOduCuVc8DOIcI.Lct8 8l8yWIth thc
QIZZ8eQc8DOVc:Ilm8COOkIn8C8QIt8I8tIc8l8uI8ntmy8DOII8QIO-
duCuVc.utnOWct8888umcthcOWncIOlthcIc8t8uI8ntI88DctOm OId8
QIIV8tc COOk8nd8W:tChhOmWOIkIn_mthcIc8t8uI8nttOWOIk_Indc
hOu8chOdOlIhcIc8t8uI8ntOWDcI.Icm8In8W8_c-8DOIcIDutnOOn_cI
QIOduCc 8ny COmmOdItIc8Onyu8c V8uc8: Ihc QIZZ8 th8tQIcQ8Ic mIhc
hOu8chOdkItChcnOlthcIc8t8uI8ntOWDcII8 nOt8OdDutI8COn8umcdDy
thc Ic8t8uI8nt OWncI 8nd h:8 hIcnd8. h8Vc QIOduCcd ncIthcI V8uc nOI
8uIQu8V8uc8ndthcIclOIc8n"unQIOduCuVcW8_c-8DOIcI.
cIc thc mc8mn_ Olthc dI8tInClIOn DctWccn QIOduCtIVc 8nd unQIO-
duCtIVc 8DOIC8nDcm8dcQcIlcCtyCc8I: Il 8mcmQOycd888COOkIn8
THE CAPTALl5T PKOCE55 OF PKODUCTlON I 23
Ic8l8uI8nllhcn lhc Ic8l8uI8nlOWncIh88lO8yOulmOncylOImyW8_c8
3Wc3 thclOOd8luh8WOIkWIlh_u8l88hcWOud Il WcIccmQOycd
88hI8QIIV8lc COOk. uldcmOncyhcCQcnd8lOIhI8Ic8l8uI8nlDu8Inc88
uOnyadcancedIlthIn_8 _OWcblOIlhcIc8t8uI8nlDu8Inc88thcmOncy
IcluIn8lOlhcOWncIInCIc88cdDylhc8mOunlOl8uIQu8VMuc.hcmOn-
cyQ8Id lO mc 88 8QIIV8lc COOk I8 sent,thcIc8l8uI8nlOWncIIcCcIVc88
u8cV8ucInIcluODulnOmOncy.nOIdcIlO 8QcndmOncylOI8QIIV8lc
COOk lhc Ic8l8uI8nl OWncI nccd8 thc 8utQu8 VMucQIOduCcdDy 8 COOk
m dc Ic8l8uIml. hc8mOunlOlunQIOduClIVc8DOIth8lthcIc8t8uIml
OWncIC8n8hOId I8umItcdDylhc 8mOunl Ol8uIQu8V8ucQIOduCcdDy
dcQIOduClIVc8DOIcI8InthcIc8l8uI8nl.
5.Accumu/ation,theInduttia/ReseeA,Immiseation
l8l lhc cnd Ollhc C8QIl8I8lQIOduCuOnQIOCc88 thc QIOduClI8 8uC-
Cc88my8OdlhcC8QIl8D8lODt8In8nOlOnythcOII_n8y8dV8nCcd8um
OlC8QIl8Dul8n8ddIlIOn88uIQu8V8uc.hI88uIQu8V8ucI8thc8ImOl
C8QIt8I8l QIOduClIOn. OWcVcI Il dOc8 nOl cXI8l lO 8cFc thc COn8umQ-
uOnOlthcC8QIlMI8llhcnlhc8ImOl QIOduCtIOnWOudOnyDthcm888
Olu8cV8uc8 lh8l C8nDcDOu_hlWIththc 8uIQu8V8uc~DulI8lhcIdc
mIlhcIV8OIIZ8uOn OlC8QIl8: thc V8OIIZ8uOn OlC8QIt8I8 8n endinit
seq[8cc 8cClIOn 4.2). Pl thc cnd Olthc V8OIIZ8lIOn QIOCc88 %L-%
mOncy I8 OnCc 8_8In 8dV8nCcd 88 C8QIl8 8nd nOl 88 lhc InIu8 8um Ol
VMuc %Dul I8thcI 8 8um OlVMuc InCIc88cd Dy thc 8mOunl Ol8uIQu8
V8uc [mInu8 lhc COn8umQlIOn cXQcndIluIc8 Ollhc C8QIt8!I8l| th8l un-
dcIOlhcIWI8c8l8DcCOndItIOn8yIcd8IntuO8nInCIc88cd8uIQu8VMuc.
hcu8n8lOIm8tIOnOl8uIQu8V8ucInlO C8QIlMI8 CM cdaccumu/ation.
LOmQclIlIOn dIIVc8 lhc IndIVIdu8 C8QIl8I8l lO 8CCumu8lc. c
mu8lQ8IlICIQ8lcIn lhc I8Cc lOI8 COn8l8nlInCIc88cInQIOduClIVIly lO
kccQuQInlhcQIICcCOmQclIlIOn.nCIc88In_QIOduClIVIlylhtOu_h thc
InlIOduClIOnOlm8ChIncty I8_cncI8y cXQcn8IVc. 1Icgucnly IlI8nOl
8uCIcnl lOInVc8llhc88mc8um OlV8ucInOthcIm8ChInc8 8hI_hcI
8um OlV8uc I8 Ollcn nccdcd 8O lh8l 8CCumu8tIOn I8 ImQO8cd uQOn
lhc IndIVIdu8 C8QIl8I8l.
I 24 AN NTKODUCTON TO KAKL MAKX'5 AI1A
hccxlcnlOlCCumulIOnCnluHOulVctydIctcnlylOtIndIVIdu-
CQIl8.nlhcC8cOlt_cInVc8lmcnl8WhcncnlItcQtOduClIOnlCII-
lIc8 hVctObcrcnOVlcdlhctcCOmc8QOIDlWhcn lhcQtcVIOu8yCtcl-
cd8utQu8VucI8In8umCIcnl.n8uChC8clhc clcnl OlCCumulIOn
CnbccnnCcdbyCtcdIl. LnlhcOlhcthndlhctcCn8O bc C8c8 m
WhICh thc cnlItc 8utQu8VucI8 nOltcQuItcd lOt CCumulIOn 8Oml
lhctc8lOllhc 8utQu8Vuc CnbcInVc8lcd8Inlctc8l-bctIn_CQIll
bnk8 OtIn lhc hnnCI mtkcl8. nbOlh C8c8 lhc tlc OlInlctc8l I8
dcCI8IVcQunuly.hccxmInlIOnOlInlctc8l-bctIn_CQIlCtcdIlnd
8O OnQtc8uQQO8c8 lcWInlctmcdIlc 8lcQ8nd:8 CttIcd OulbyNO
InlhclhItdVOumc Ol0aita/[8ccChQlct8). 1I8dcQIClIOnOllhcCCu-
mulIOnQtOCc88Inlhcht8lVOumc [uQOnWhIChlhI8 8cClIOn I8b8cd|I8
lhctclOtc nOl COmQclcbyltWhICh_InIndIClc8lhcncCc88IlyOlnOl
tc8ltInIn_Onc8tcd:n_Ol0aita/lO lhcbt8lVOumc.
Pllhcbc_InnIn_Ol lhI8ChQlctlhcdI8lInClIOnbcwccnconstantca
ita/,c[lhlQOtlIOnOlCQIldVnCcdlOtmChInc8tWmlctI8clC.|
nd catia|/e caita/, c [CQIl dVnCcd lOt W_c8| W8 InltOduCcd.
NOtclct8 lO lhI8 tlIO OlCOn8lnllO VtIbc CQIl c/c,8 lhc ca/ue
comositionOlCQIl8. n8Olt 8 lhc Vuc-COmQO8IlIOn OlCQIl I8 dc-
lcHIncd by lcChnOO_IC COmQO8Il:On NOtclct8 lO Il 8 lhc otganic
comositiono]caita/[0aita/, I: 762).hu8 lhI8 Ot_mC COmQO8IlIOn
Ony CCOunl8 lOt 8uCh Chn_c8 OlVuc-COmQO8IlIOn lhl tc8ul hOm
ChD_c8InlcChnIC COndIlIOn8 [8uCh 8WhcnncWcxQcn8IVcmChInc
I8 InltOduCcd| bul nOl lhO8c lhl tc8ul hOm Chn_c In VMuc Ollhc
mcn8OlQtOduClIOn u8cd.1OtcxmQcIlCOMbcCOmc8mOtccxQcn8IVc
lhcn lhc COn8lnl CQIlMcIn8lccmIInCtc8c8ndc/c M8O InCtc8c8
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hcnWcWtIlcbcOWbOullhcCOmQO8IlIOnOl CQIllhcnWcmcnlhc
V8uc-COmQO8IlIOnndnOllhcOt_nICCOmQO8IlIOn.``
lCQIlI8CCumulcdundctCOn8lnlCOndIuOn8c8QcCIyIn lhc
C8c OlCOn8lnlVuc-COmQO8IlIOnCOn8lnlVuc OlbOt-QOWctnd
COn8tnlcn_lh OllhcWOtkdy lhcn lhc dcmndlOtbOt-QOWct_tOW8
_u8l8 8ltOn_y 8CQIl.1OtcxmQcIl8O muCh 8utQu8 VucI8 ltD8-
lOtmcd InlO CQIl lhl lhc 8um OlVuc dVnCcd8 CQIl tI8c8by20
THE CAPTALl5T PKOCE55 OF FKODUCT ON Z0
percent,then20 percentmoreabor-powerisasorequired.Therising
demandForabor-powerinitialyimprovesthe condinonsunderwhich
abor-power is sod,so that the current price oFabor-power can rise
aboveitsvaue.Thisaso diminishessurpusvaue,whichsowsmrther
accumuation,putsabrakeonthedemandForabor-power,andthereFore
asoanymrtherriseinwages.
tFwagesrise,thenthisasohasconsequencesFortheintroductionoF
abor-savingmachines.Asexpainedinsection5 . acapitahstwony
introduce a machine iFtheincreasein production costs [as aresut oF
thevauetransFerred6ommachinetoproduct)isessthanthereduction
oFthe costs oFvariabecapita.However,theamountoFvariabecapita
thecapitaistsaveswhenhereduceslabor-timebyaspeci6cquantityde-
pendsupontheeveoFwages.Hence,inthecaseoFtheexistenceoFhigh
wages,machinesareintroducedthatwoudhavebroughtnocostadvan-
tageataoweveoFwages.Risingwagesthuseadtoanacceeratedin-
troducnonoFlabor-savingmachines.Thetypica accumuanonprocess
doesnottakepaceunderconstantconditions,butunderanincreasing
vaue-compositionoFcapita:consequenty,eveninthecaseoFacontinu-
ousaccumuationprocess,thedemandForabor-powerandarisemwag-
escanbeimited.Asareadymentionedinsection4.4, thecapitaistac-
cumuationprocessitseFensuresthatwagesonaverageareimitedtothe
vmue oFabor-powerandthat this vaue,althoughhistoricayvariabe,
cnotchmbsohighthatitseriousyimpairsthevaorizationoFcapita.
ThemassoF workerswhoarewiing[orimpeed)tosetheirabor-
powerbutwhodon'thndanybuyersarereFerredtobyMarxasthein-
duia/tesetcea. ThesizeoFthisindustriareserearmydepends
upontwo opposingeects.Ontheonehand,accumuationoFcapita,
andthereForeanextensionoFproduction,occurs,whichataconstant
eveoFvaue-compositionrequiresmoreabor-power[empoyment
eectoFaccumuation).Ontheotherhand,anincreaseinproductivity
oFaborthatexpressesitseFinanincreasingvaue-compositioneads,
ataconstanteveoFproductionoutput,toessabor-powerbeingre-
quired[aborredundancy eectoFrisingproductivity).Whetherthe
demandForabor-powerrisesorFasdependsuponwhichoFthesetwo
eectsispreponderant.
I 20 AN lNTKODUCTlON TO KAKL MAKX'5 AI1A
1 wc a88umc lhal lhc grOduCuVIly O aDOr dOuDc8 Ony ha O lhc
aDOr-gOwcr I8 ncCc88ary Or lhc grOduClIOn O a garuCuar guanlIly O
grOduCl8. 8O muCh 8urgu8 Vauc I8 lran8ODcd InlO ncw CagIla lhal
lhc grOduClIOn w dOuDc lhcn lhc numDcr O cmgOycd aDOrcr8 rc-
maIn8 lhc 8amc. c88 CagIla I8 aCCumualcd lhcn lhc VOumc O _OOd8
grOduCcd InCrca8c8 Dul lhc ar_cr VOumc O _OOd8 I8 grOduCcd Dy a
8macr numDcr O wOrKcr8.
%aF a88umcd lhal CagIla lcnd8 lO Dr:n_ Orlh an InCrca8In_y _rOw-
In_ Indu8ltIa rc8crVc army. l a rOu_hy COn8lanl numDcr O OrCc8 O
aDOr lhI8 I8 Ony gO88IDc whcn lhc rcdundanCy chcCl O lhc tI8c In
grOduClIv:ly OulDaanCc8 lhc cmgOymcnl chcCl O aCCuuauOn. 1 Onc
laKc8 an IndIVIdua CagIla InlO COn8IdcralIOn Onc CannOl _cncray grc-
dICl whICh chcCl I8 8lrOn_cr. OwcVcr %arX ar_uc8 lhal lhcrc arc lwO
gO88IDIIlIc8 O _rOwlh Or IndIvIdua CagIla8. Lnc OCCur8 duc lO lhc
lran8OtmalIOn O 8utgu8 Vmuc InlO CagIla %aF rccr8 lO lhI8 lygc O
_tOwlh a8 lhc concenttationo]caita/,lhc Olhcr OCCur8 duc lO lhc a__rc-
_auOn O dIhcrcnl IndIVdua CagIla8 [whclhcr In a "gcaCch1 m8IOn Or
a "hO8lBc lcOVcr| whICh hc Ca8 lhc centta/ationo]caita.n lhc
Ca8c O CcnlraIZauOn lhc IndIVIdua CagIla _rOw8 COn8IdcraDy wh:Ch
I8 lhcn u8uay a8O cXgrc88cd In an aCCccralcd lcChnICa rcVOulIOn [lhc
InCrca8cd CagIla ha8 mOrc gO88IDIIlIc8 Or InVc8lmcnl al Il8 dI8gO8a
Il Can aCguIrc maChInc8 Or whICh lhc mcan8 O lhc 8macr CagIlm wa8
nOl 8umCIcnl clC.| wlhOul a _rOwlh In lOla CagIl8. n lhI8 rc8gcCl grO-
duClIVIly InCrca8c8 VIlh 8I_n:hCanl rcdundanCy chcCl8 a8 a rc8ul O mc
CcnlraIZalIOn wIlhOul any OggO8In_ cmgOymcnl chcCl a8 a rc8ul O aC-
CumualIOn. hI8 lhOu_hl I8 guIlc gau8IDc Dul whclhcr an cmgOymcnl
chcCl Or rcdundanCy chcCl OCCur8 In lhc uho/cCOnOmy dcgcnd8 ugOn
lhc hcgucnCy O 8uCh CcnlraIZalIOn grOCc88c8 and lhc rcalIOn Dclwccn
lhc rcdundanCy chcCl8 rc8ulIn_ hOm lhcm lO lhc cmgOymcnl chcCl8 O
lhc rcmaImn_ CagIla8.
hc tendenqo]agtouingIndu8lr:a rc8cCc army a88umcd Dy %aF
CannOl Dc 8lt:Cly 8uD8lanlIalcd a8 a CaIm. OwcVcr Il I8 al ca8l Ccar lhal
lhc Indu8ltIa rc8cCc army In CagIlaI8m CannOl dI8aggcar In lhc On_ -
lagIlaI8m VIlh m cmgOycnl I8 away8 an cCcglIOn: mcmgOymcnl
aOw8 wOrkr8 lO ImgO8c hI_hcr wa_c8 whICh cad8 lO a 8OwdOwn :n
THE CAPITAL5T PKOCE55 OF PKODUCTON I 27
theaccumuationprocessandjortheimpementationoFlabor-savingma-
chines,sothatanindustriareserearmyemergesonceagain.
For the individua capitalist, the existence oFthis industrial resere
armyoersadoubleadvantage.Foronething,theunempoyedForcesoF
aborexertadownwardpressureonthewagesoFtheempoyed,andFor
another,theyreaydo constitutearesere"Forvolatileexpansions oF
accumulation:aquickexpansionoF production,Forexampe,onthebasis
oFnewsaespotentiasinForeigncountries,isnotpossibIeinthecaseoF
mempoyment.orthatreason,appeastobusinesstodosomethingto
helpreduceunemploymentarealwaysobase.AcritiqueoFcapitalism
thataccusescapitalismoFproducingunemploymentismsowrong,how-
ever:thesoleaimoFcapitalisvalorization,notthecreanonoFmempoy-
mentorevenagoodiFeForthemajorityoFthepopuation.
Subsequentto the examinationoFthe resere army oFabor,inthe
twenty-third chapter oFthe 6rstvoume oF0aita/ one hnds various
statements that are interpreted as a theory oFimmiseranon." In the
I920s,thistheoryoFimmiserationwasunderstoodasatheoryoFrevou-
non: in capitaismthemassesareimpoverished,so thattheyinevitably
realizethattheyhavenootheroptionthantherevoIutionaryaboitionoF
capitalism.However,theeampeoFFascism[butnotonythiseample)
showsthatthemostimpoverished"sectorsoFthepopulationinnoway
automancay move to the eFt, they canjustas we turn toward right-
wing,nationalist,andFascistmovements.
DuringthetimeoFtheeconomicmirace" [ittschauundet) in
WestCermany and the period oFpostwarprosperity in generaI in the
I90s and I970s, exponents oF capitalism eagery pointed out that
Mar's immiseranon theoryhadobviouslybeen re6:tedbymllempoy-
mentandtheconstantyrisingstandardoFivingoFworkers,whichwas
then expanded to a mndamenta argument against Mao's critique oF
pohncal economy. The aleged FaIsepredictionconcermngcapitmism's
developmentprovedhowtotaywrongMao'sanalysishadbeen.
Marxistsdidnotacceptthisjudgmentandmadeadistinction[notex-
plicitypresentin Marx's work) betweenabsouteimmiseration"the
absolutedechneinthestandardoFlivingoFtheworkingclassandrea-
tiveimmiseration":theremightbeariseinthestandardoFliving,butthe
28 AN NTKODUCTON TO KAKL MAKX'5 AI1A
shatc lhal lhc WOtkIn_ Casshas OllhclOl0Wcalh OlsOCIcly dcCIncs
tcalIVc lO lhalOllhcCaQIl0Isls.
ouDslanlIay [alhOu_h nOlWIlhlhIsnOlIOn] %aO adVanCcd a lhc
Oty OlaDsOulc ImmIsctauOn In lhc 0ommunistNanqesto Ol I848,Dul
In lhchtslVOumc Ol0aita/,QuDIshcd nInclccnycats alct lhctc Is nO
On_ctanymcnlIOnOlIl.n 0aita/,%atxcmQhasIZcslhalIlIsQtcCIscy
lhc QtOduClIOn OltcalIVc sutQus Vauc [WhIChIlOncWIshcs lOCanDc
undctslOOdas alhcOtyOl"tcalIVcImmIsctalIOn]lhal0OWsanInCtcasc
In lhc slandatdOlIVIn_OllhcWOtkIn_Cass COnCuttcnlWIlhanInCtcasc
InsuQusVauc [scc scClIOnO.O].
mOWcVctInlhcmuCh-dIsCusscdQassa_cInChaQlctXOOl0aita/,VO.
I,%atxs QtImatyCOnCcDIs nOl al m aQatuCuatdIsmDuuOnOlInCOmc.
%atxwtIlcsIntclctcnCculhcQtOduClIOnOltcauVcsuQusVauc
that Wmn thc caQtalst systcm mcthods ot tasng thc socal Qto-
ductvty oabout atc Qut nto cdcct at thc cost o thc ndvdua Wotkct
that M mcans ot thc dcvcloQmcnt o Qtoducton undctgo an nvctson
so that thcy bccomc mcans o domnaton ovct, and cxQlotaton o thc
Qtoduccts thcy dstott thc Wotkct nto a bagmcnt o a man, thcy dc-
gtadc hm to thc lcvcl o an aQQcndagc o a machnc thcy dcsttoy thc ac-
tual contcnt o hs labout by mmg t nto a totmcnt thcy alcnatc j ent-
jeMdn hom hm thc ntclcctual Qotcntaltcs o thc labout Qtoccss n
thc samc QtoQotton as sccncc s ncotQotatcd m t as an ndcQcndcnt
QoWct thcy dcotm thc condtons undct Whch hc Wotks, sub]cct hm
dutng thc labout Qtoccss to a dcsQotsm thc motc hatcm! ot ts mcan-
ncss thcy ttansotm hs lc-tmc nto Wotkng-tmc and dtag hs wc
and chld bcncath thc Whccls o thc ]uggcmaut o caQtal. but mcth-
ods ot thc Qtoducton o sutQlus valuc atc at thc samc tmc mcthods o
accumuaton, and cvcty cxtcnson o accumulaton bccomcs, convctsc-
ly a mcans ot thc dcvcloQmcnt o thosc mcthods. t ooWs thctcotc
that n QtoQotton as caQta accumulatcs, thc stuaton o thc Wotkct, bc
hs Qaymcnt hgh ot loW, must gtoW Wotsc. (0aita/,1: `99
hclaCl lhal%atxIs nOlQtImatIyCOnCcDcdWIlhlhcdcVcOQmcnl
OlInCOmc Ot IVIn_ slandatds Is madc Ccat Dy lhc asl scnlcnCc. hc
THE CAPTALl5T PKOCE55 Ol PKODUCTlON \ 29
"WOIscnIn_ Ol lhc sIlu8lIOn Ol lhc WOIkcI IclcIs lO lhc lOlMly Ol hIs OI
hcI WOIkIn_ 8nd IVIn_ COndIlIOns 8s lhc lOOWID_ sl8lcmcnl 8sO m8kcs
Cc8I:
Accumulation oF wealth at one poIe is, thereFore, at the same time accu-
muIanon oF misery, the torment oF labour, slavery, ignorance, bmtiza-
non and moral degradation at the opposite pole. (0aita/,I .799)
8ts CIIlIguc Ol C8gIl81Ism cannotDc IcduCcd lO 8 gucslIOn Ol In-
COmc OI Wc8lh dIslIIDulIOn. hIs dIslIIDulIOn C8n Dc Ch8n_cd lO sOmc
cxlcnl WIlhIn C8gIl81sm 8nd Il Is guIlc In C8gIl81s InlcIcsl lh8l WOIkcIs
dO nOl sInk InlO lOlm gOVcIly sInCc lhc gu81Ily Ol lhcII 8DOI-gOWcI 8sO
suhcIs 8s 8 Icsu!l. LVcn lhc uncmgOycd lhc "InduslII81 IcscIVc 8Imy
8l c8sl In lhc sO-C8!!cd dcVcOgcd COunlIIcs shOud nOl Dc IcduCcd lO 8
Vc_cl8lIVc sl8lc sInCc lhcII !8DOI-gOWcI IcguIIcd Dy C8gIl8 In lhc C8sc
Ol 8 IcncWcd suI_c Ol 8CCumu8lIOn WOu!d nO !On_cI Dc dcgOy8Dc [scc
Ch8glcI I I DcOW|.
h8l 8Ix CIIlICIZcs Is nOl 8 sgcCIhC dIslIIDulIOn Ol _OOds OI In-
COmc Dul lhc "mIscI8Dc WOIkIn_ 8nd IVIn_ COndIlIOns In 8 COm-
gIchcnsIVc scnsc WhICh hc Ch8I8ClcIIZcs WIlh lcIms suCh 0s "cnd!css
dIud_cIy 8nd lOI "I_nOI8nCc 8nd "DIul8IZ8lIOn. 8t W8nls lO
m8kc C!c8I lh8l lhc D8sIC slIuCluIcs Ol suCh COndIlIOns 8Ic nOl _usl
m8!8dIcs Ch8I8ClcIIslIC Ol C8gIl8Isms Inl8nCy lhcy Icm8In lhIOu_hOul
lhc dcVc!Ogmcnl Ol C8gIl8IsmIc_8Id!css Ol Ch8n_cs lO lhcII COnCIclc
8ggc8I8nCc. bInCc lhc sO!c 8Im Ol lhc C8gIl8!Isl gIOCcss Is V8!OIIZ8lIOn
8nd 8n InCIc8sIn_y ImgIOVcd V8!OIIZ8lIOn 8nd hum8ns 8nd n8luIc 8Ic
lIc8lcd 8s mcIc InslIumcnls Ol V8!OIIZ8uOn lhIs gIOCcss gOsscsscs 8n
InlIInsIC dcslIuClIVcncss lOW8Id hum8ns 8nd n8luIc lh8l COnsl8nly
gIOduCcs lhcsc mIscI8Dc IVIn_ COndIlIOns In ncWcI lOIms cVcn In lhc
C8sc Ol 8n InCIc8scd sl8nd8Id Ol!IVIn_.
8Ix dOcs nOl huI! 8ny mOI8 8CCus8lIOns 8l IndIVIdu8! C8gIl8Isls 38
Icsul Ol hIs 8nmysIs Dul sImgy COnCudcs: Il Onc Is 8Clu81y InlcIcslcd m
Ch8n_m_ lhcsc mIscI8D!c COndIlIOns lhcn Onc h8s nO OmcI OgUOn lh8n lhc
a|o/itiono]caita/i.8Ixs CIIlIguc dOcs nOl COnsIsl Ol 8 mOI8! IcmOn-
slI8nCc Dul I8lhcI gIOVIdcs cVIdcnCc OlhOW C8gIlMsm 8Cm8y hnCUOns.
U. C LitCUtiOn O LQit
Ith thc VOIIZtIOn QIOCc88 CQIt tcOtcy dOQt8 thc lOIm8 Ol
COmmOdIty nd mOncy. P8 cVIdcnt In thc "_cncI lODu OlCQIt
%~L%` thc V8OIIZuOn QIOCc88 cnCOmQ88c8 DOth Ct8 OlQIOduC-
uOn nd Ct8 OlCIICutIOn. hc QIcVIOu8 ChQtcI Ony dct WIth thc
QIOduCtIOn QIOCc88 OlCQIl8 QIOCc88 dcQICtcd Dy %C 1n thc hI8t
VOumc Ol0aita/.%C cXmInc8 thc CIICuuOn QIOCc88 OlCQIt8In
lhc8cCOndVOumc.nthI8ChQtcIWcw IumIntclcWkcyCOnCcQt8
hOm%IX88ny8I8 lhtIc ncCc88IylOIn undcI8lndIn_Olthc COn-
tcntOlthcthIIdVOumc.
0. 1 e0itcuito]0aita0ostso]0itcu/ation,
Industtia/0aita/,Netchant0aita/
hc lOImu %L-% I8 n D8tICt dcQICtIOn Olthc CIICuItOlCQIt.
hI8DIck8 dOWnIntO thIcc8l_c8:
THE F! R8 T 8TACE : hc CQItI8tQQcI8 8 DuycI Onlhc mIkct
mdCOnVcIl8hI8moncaita/% InlOCOmmOdItyL. %Oncy\8thcIndc-
QcndcntlOImOlVucmOncyCQIl8I8 thcmOncylOIm OlCQ:t.ht
I 32 AN lNTKODUCTlON TO KAKL MAKX'5 AJ1A
m8kc8 lhI8 8Cl OlQuICh88c InlO 8ncQI8OdcIn lhc CIICu8lIOnOlC8QIl8I8
lhc COnlcXl In WhICh Il OCCuI8: lhc C8QIl8I8lQuICh88c8 8 COmmOdIlym
OIdcIlOQIOduCcncWCOmmOdIlIc8lh8l8IclODc8OdlOI8QIOhl.hI8I8
m8dcQO88IDcDy lhc 8QcCI8m8lcII8COnlcnlOllhc QuICh88cdCOmmOd-
Ily: lhc C8QIl8I8lDuy8 mc8n8 OlQIOduClIOn [%| 8nd 8DOI-QOWcI [L|
mc8nIn_hc lIm8lOD8 mOncyC8QIl8%InlOtoducticecaita/.
THE S E C OND STACE: hc CIICu8lIOn QIOCc88 I8 InlcIHQlcd: QI0-
duClIVc C8QIl8 I8 cXQcndcd In lhc QIOCc88 OlQIOduClIOn. IOduClIVc
C8QIl8 COn8I8l8 Ol mc8n8 OlQIOduClIOn 8nd 8DOI-QOWcI Dul lhI8 dOc8
nOlmc8n lhcyWcIc 8W8y8 QIOduClIVc C8QIl8. %c8n8 OlQIOduClIOn8nd
8DOI-QOWcI8Ic 8W8y8 lhc l8ClOI8 Ollhc QIOduClIOnQIOCc88Ic_8Idc88
OlIl8 8OCI8 lOD lhcy 8Ic QIOduClIVc C8QIlM Ony uithin thecaita/t
tocesso]toduction. hc Ic8ul Ollhc C8QIl8I8lQIOduClIOn QIOCc88u
8ncW gu8nuly OlCOmmOdIlIc8 88 8lOIm OlcXI8lcnCcOlV8OIIZcd C8QI-
l8 lhI8 gu8nlIlyOlCOmmOdIlIc8I8 commodigcaita/L. 1l COn8I8l8nOl
Ony Olgu8Il8lIVcy dIhcIcnl COmmOdIlIc8 lh8n lhc OII_In8 gu8nlIly Ol
COmmOdIlIc8 L [mc8n8 OlQIOduCuOn 8nd 8DOI-QOWcI| Il 8hOud 880
QO88c88In lhcC88cOl88c8hI_hcIV8uc lh8n L.
THE T H ! R D STACE ! hc CIICu8lIOn QIOCc88 I8 COnunucd 88 lhc
C8QIl8u8l cnlcI8 lhc m8Ikl 88 8 8ccI. c 8c8 lhc ncW gu8nlIly OlCOm-
mOdIlIc8 L lOI %lh8l I8 hc lI8n8lOIm8 COmmOdIly C8QIl8 D8Ck InlO
mOncy C8QIl8Dul lhc8llcII8 nOWVMOIIZcd lh8l I8 IlI8 mOncyC8QIl8
InCIc88cdInV8uc Dy lhc8mOunlOl8uIQu8V8uc.
P8 8dI8_I8mWc ODl8In lhc lOOWIn_[lhcdOl8IndIC8lc lh8l lhc CII-
Cu8lIOnQIOCc88I8 InlcIIuQlcdDy lhcQIOduClIOnQIOCc88|:
%
/
%L . . . . . . L%
\
L
THE Cl KCULATON OF CAFlTAL
1nIt8 CItCuIt CQIt 88umc8 thc 8uCCc88IVc lOH8 OlmOncy CQItM
QtOduCUVcCQIt8nd COmOdIty CQItM. hc8c lOtm8 tc nOtIndcQcn-
dcntVtIcUc8OlCQItbuttthctIndIVIduQh8c8OlthcCItCuItOlCQIt8.
hc tImc 8Qcnt by CQIt In dc QtOduCtIOn QtOCc88 I8 thc timeo]
toduction,thc tImc 8Qcntby CQItIn thc CItCulIOnQtOCc88Whcthct
InlhclOHOlmOncyCQIt8cckIn_COmmOdIty8clct8Ot8COmmOdIty
CQIt-8cckIn_ buyct8 I8 CQIt8 tuocettime. hc tImc OlQtOduC-
UOnI8On_ctdnQutcbOt-tImc: IlmChInc8tcmInIdc OVctnI_htOt
u8uQQIc8 tckcQtIn 8tOt_c thcn CQItI8 8tIOCtcdWIthIn thc QtO-
duCUOnQtOCc88cVcnu tcmQOttI1yOut8IdcOlbOt-tImc.mOWcVctItI8
Ony dutIn_bOt-tImc thtVucnd8utQu8VuctcQtOduCcd8Otht
thcCQItI8tttcmQt8 tO kccQ cxCc88c8OlQtOduCtIOnUmc nd tuOOVct
UmcbcyOndthcCtu bOtQtOCc888OW8QO88Ibc.
0osts o]citcu/ation tI8c hOm thc CItCutIOn QtOCc88. mOWcVct
dI8UnCUOnmu8tbc mdcbctWccnlhc CO8t8 OlQtOduCtIVc CtIVIUc8 tht
InCtc8c thc u8c VMuc nd Vuc Olthc QtOduCt nd thu8 COnlInuUOn
Oldc QtOduCtIOnQtOCc88 dutIn_ CItCulIOn 8ndQutc CO8t8 OlCItCu-
UOnthtdOnOtddtO thc u8cVucnd thctclOtc nOt tO thcVucOlthc
QtOduCt 8 thcy OtI_Intc 8Ocy hOm thc changeo]]otmOlmOncy IntO
COmmOdItyOtCOmmOdItyIntOmOncytc8QcClIVcy.
hc mO8t nOtbc cxmQc Ol thc ht8t 8Ott Ol CO8t8 OlCItCutIOn I8
un8QOtttIOn CO8t8.AQtOduCtOnyh8u8cVuc lOtmcWhcn1hVc
CCc88 tO Itt thc OCtIOn In WhICh 1 W8h tO COn8umc It. Ot cxmQc
thc ttn8QOtttIOnOlbICyCchOm thclCtOty tO thcCOn8umctI8_u8t8
ncCc88ty 8 thc httIn_ OlIt8 tItc8 nd thctclOtc I8O COnttIbutc8 tO thc
VMuc OlthcbICyCc.
1n COntt8t thc mctc Chn_c OllOtm OlCOmmOdIty nd mOncy h8
nOthIn_tOdOWIthlhcu8cVucOllhcCOmmOdIty ndthctclOtcnOthIn_
tO dOWIthIt8V8uc.utc _cnt8 OlCItCutIOn[8uCh 8 C8hIct8| Cn8O
bcW_c bOtct8 WhO QctlOtm 8utQu8 bOt COmQtbc tO Othct W_c
bOtct8 In8Olt 8 thcy WOtk lOtcxmQc cI_ht hOut8 WhIIc thcIt W_c
COn8tItutc8 8um OlVuc tht undct nOtm COndItIOn8 I8 QtOduCcd In
lOuthOut8.mOWcVctthc8c_cnt8OlCItCutIOnhVcnOtthcm8cVc8QtO-
duCcd ny Vuc Ot8utQu8 V8uc. hcIt bOt I8 bOt tht I8 ncCc88ty
undctCQItI8t COndIUOn8 butI8 nOncthcc88"unQtOduCtIVcmcnIn_
I 34 AN lNTKODUCTON TO KAKL MAKX'5 AI1A
that tt docs not crcatc surp!us va!uc. Jhc wagc tor thts !abor [and thc
va!uc ot thc mcans ot production uscd by tt) ts a dcductton hom thc sur-
p!us va!uc crcatcd by producttvc !aborcrs. Jhc tact that unproducttvc
!aborcrs pcrtorm surp!us /a|otand arc thcrctorc a!so cxp!ottcd docs not
contrtbutc to suq!us ca/ue,though thc cxp!ottabon ot thc unproducttvc
!orcrs dtmtntshcs thc dcductton hom surp!us vuc.
What was ]ust satd wtth rcgard to thc costs ot purc agcnts ot crcu!a-
tton ts gcncraI!y vaItd tor thc purc costs ot ctrcu!atton: thc costs constttutc
a dcducbon hom surp!us vuc. t thcsc costs dccrcasc, thc rcmatntng
surp!us va!uc tncrcascs. or thts rcason, tt appcars as tt thc vortzatton ot
captta! rcsu!ts not hom thc cxp!ottatton ot!or-powcr tn thc producbon
proccss but tndcpcndcnt!y hom thc productton proccss tn thc ctrcu!a-
tton proccss ot captta!. Jhc caita/]etuh dca!t wtth tn thc cxaminabon
ot thc productton proccss [scc sccbon 5.3) ts h:rthcr rctntorccd tn thc
proccss ot ctrcu!atton.
Man rctcrs to captt that passcs through thc thrcc torms ot moncy
captt, producttvc captt, and commodtty captta! as industtia/caita/
Jhis tcrm ts not tntcndcd to undcrscorc thc matetia/charactcr ot thts
captta! [such as thc usc ot!argc producton tact!ttics), but ts a dtstncttvc
tcaturc hom mc pcrspccbvc ot ca/ue:
!ndustr capit is the omy mode oF exstence oF capit mwhich not
onIy the appropriation oF surpIus-vue or surpIus-product, but so its
creation, is a mnction oF captaI. (0aita/,2.I35-36)
Captta! nvcstcd n scrvicc cntcrpriscs a!so bc!ongs to thc catcgory ot
tndustrta! captta! n thts scnsc. Jhc so!c dhcrcncc conststs ot thc tact that
thc mshcd product [whcthcr a mcatcr pcrtomancc or an act ot transpor-
tabon) ts not a matcrta! ob]cct acmg as tndcpcndcnt commodity-captta; tt
can on!y bc consumcd stmu!tancous!y wtth tts proccss ot producbon, so
that thc dtagram ot tts ctrcmt appcars 3toI!ows.
THE CKCULATON OF CAPTAL
%
l
%L . . . %
\
L
35
utthcVucO 8uCh8ctVICc,IKc thcVaucO nyOthctCOmmOdIty
QtOduCcdundctCQItmI8mI8 dctctmIncdDy thc 8um OthcVucOthc
mcn8OQtOduCtIOn u8cdInIt8QtOduCtIOn LndthcVucncWyCtctcd
thtOu_thccXQcndItutc ODOt-QOWct[cs|
nCOntt8tQutc mctChnt CQIt [ttdIn_CQItm,COmmctCI CQI-
tm| ndIntctc8t-DctIn_ CQItdOnOtDcOn_tO thc Ctc_OtyOIndu8ttI-
CQIt. Oth QQtOQtItc 8htc O8utQu8Vmuc,DutthcQtOduCtIOn
OthI88utQu8VucdOc8nOtDcOn_tOthcItCQItmnCtIOn.
emetchantcaita/I8 Ony InVOVcd w1ththcQutCh8c nd 8mc O
COmmOdItIc8thcDOtct8 cmQOycdDymctChnt CQItm QctOtmunQtO-
duCuVcDOt tht dOc8 nOty1cdny8utQu8 Vuc.'hc Indu8ttImCQI-
D8t8Vc8 Onthc mOnctQcQcndItutc8 OtthI8 unQtOduCtIVc DOt [thc
Ctua CO8t8 OCItCuuOn| nd 8O Cut8 thc CItCutIOn tImc OthI8 OWD
CQILDy8cn_tOmctChnt8In8tcdOCOn8uDct8.tc 8c8thcCOmmOd-
ItIc8 QtOduCcd DyhI8 Ow CQItundetthcItVuctO thc mctChantWhO
mcn8c8mcmtthcItVmuc.ndWy thcIndu8ttImCQItm8t8htc8thc
8uQu8VucQtOduCcdDyhI8CQImWIththcmctChntCQItMI8t.
0.2TheTuoceto]0aita/, Fixed0aita/,
and0ito/ating0aita/
thc CItCuIt OCQItI8 nOt COn8Idctcd8 8In_c OCCuttcnCc,Dut8
QctIOdIC QtOCc88 Onc 8QcK8 Othc tuocetOCQIt. hc tuocet
timeI8 thc 8um OQtOduCtIOn tImc nd CItCutIOn tImc ItI8 thtQctIOd
OtImc OtWhICh CQItaI8tmu8t dVnCc CQIt DcOtc hc ODtmn8 It
_In8VOtIZcd8um.
AQtt Othc mcn8 OQtOduCtIOn8uCh 8Du:dIn_8 nd mChInc8
tc Ony WOD Out tct numctOu8 QtOduCtIOn QctIOd8. n CCOtdnCc
I 30 AN lNTKODUCTlON TO KAKL MAKX'5 AJ1A
wIth thcIt aVcta_c wcat and tcat bUIdIn_8and maChInc8ttan8lct Ony a
QOtuOn Ol thcItV8Uc tO thc V8Uc Ol thc QtOdUCt: Il lOt cXamQc a Qat-
tICUatmaChInc Can bc U8cdthtOU_htwcnty QtOdUCtIOn QctIOd8 It thcn
ttan8lct8atwcntIcthOlIt8VaUctOthcQtOdUCtIncaChQtOdUCtIOnQctIOd.
Yhctca8 thc VaUcOl thI8 maChInc QattIay cntct8 thc 8Qhctc Ol CItCUa-
tIOn thc maChInc InIt8 Qhy8ICa lOtm tcmaIn8 wIthIn thc 8Qhctc Ol QtO-
dUCuOn.hcCOmQOncnt8Ol COn8tant CaQIt8 wIth thI8 ChataCtctI8tIC atc
tclcttcdtO a8]xedcaita/.LQQO8ItctOhXcdCaQIt8I8 [uidOtcitcu/ating
caita/:thI8tclct8tO thO8cCOmQOncnt8OlCaQItathatatc Qhy8ICayU8cd
UQ wIthIn a 8In_c QtOdUCtIOn QctIOd whO8c natUta lOtm thctclOtc dI8-
aQQcat8. cOn_In_ tO thc Catc_Oty Ol CItCUatIn_ CaQIta atc On thc Onc
hand thc nOn-hcd Qatt8 Ol COn8tant CaQIta 8UCh a8 taw and aUXIIaty
matctI88 cnct_y and8OOn andOnthc OthctVatIabcCaQIta.
hcdIhctcnCc bctwccnhcdandCItCUaun_CaQItaI8nOtamatctIa
Onc [8UCh a8 that bctwccn anImatc and InanImatc ObjcCt8| bUt a dIhct-
cnCc In thc citcu/ationo]ca/ue,whICh I8 Ol cnOHOU8 QtaCtICa 8I_nm-
CanCclOtthcCaQItaI8t.\ndctnOtmaCOndItIOn8 thc VaUcOlCItCUatIn_
CaQIt8 I8U8Uay tcQaCcdaltcta8In_ctUHOVctandmU8tbcImmcdIatc-
y adVanCcdlOtthcncXtQtOdUCtIOn QctIOd.hcV8Uc OlhcdCaQItaI8
Ony my ttan8lcttcdtOthcQtOdUCtIn thcCOUt8cOlmUtIQc QtOdUCtIOn
QctIOd8 andthctclOtcOny aQatt Ol ItI8tctUHcdaltcta 8In_c tUHOVct.
hc8c tctUH8 atc nOt ImmcdIatcy nccdcd bUt Ony whcn thc matctI8
ccmcnt8 OlhcdCaQIt8 aCtU8y haVctObctcQaCcd 8UCha8whcnancw
maChIncha8tObcQUtCha8cd.hcnthccntItcamOUntOlhcdCaQIt8ha8
tObc adVanCcd In Onc lc 8wOOQ. \ntI thcn thctctUH8 Olhcd CaQIt8
COn8tItUtcasinking]nd.
hc dI8tmCtIOn bctwccn hcd and CItCUatIn_ CaQItm a8 wc a8 that
bctwccn COn8tant andVatIabc CaQIt8 atc bOU dI8tInCtIOn8 OlQtOdUCtIVc
CaQIt8 Ol thc CaQIta-V8Uc ttan8lOtmcd IntO mcan8 Ol QtOdUCtIOn and
abOt-QOwct.hcdI8tInCtIOn bctwccn COn8tantandVatIabcCaQItatclct8
tOthcconstitutiono]ca/ue:COn8tant CaQIt8 cmctcy ttan8lct8It8VaUc tO
thc QtOdUCt whctca8 VatIabc CaQIta Ctcatc8 ncw V8Uc In thc amOUnt Ol
c*s1n COntta8t thcdI8tInCtIOn bctwccnhcdandCItCUatIn_CaQItatc-
lct8tOthccitcutiono]ca/ue,thc QOInt IntImc whcn thcCOttc8QOndID_
CaQIta-VaUctctUH8OnCca_mntOthc CaQItaD8t.
THE ClKCULATlON OF CAFlTAL I 37
hcdI8lInClIOnbclWccnCOn8lnlmdVtIbc CQItaQtc8uQQO8c8
8ctIc8 Oltheotetica/In8I_l8InlO lhcQtOCc88 OlVaucCtcuOn [COnCcH-
In_lhcCOnncClIOnbclWccnVucndbOtlhcdIctcnCcbclWccn8Ot
ndbOt-QOWctlhc tcCO_nIuOnlhl"W_c8 COmQcn8lIOnlOtabOt
u an "Im_Inry cxQtc88IOn ctC.]. hc8c In8I_hl8 tc nOl mltct Ol
COut8cIn cVctydy COn8CIOu8nc88 nOlcVcnlOt lhc CQIlI8l [COnCcH-
:D_cVctydy COn8CIOu8nc88 8ccChQlct 1]. 1nCOnlt8llhc dI8lInClIOn
bclWccn hxcd ndCItCuun_CQIta I8On lhc b8I8 OlIl8tactica/8I_
mCnCc ImmcdIlcy QQtcnllOtthcCQIlI8lndlOundtIOnOlhI8
CaCulIOn8.P8 lhI8 dI8unClIOn 8ub8umc8 VtIbc CQIl nd QOtuOn
OlCOn8lnlCQIl undctlhcbcOlCItCuuD_ CQIl lhc dI8unClIOn
bclWccnCOn8lnlndVtIbcCQItI8 Ob8CutcdcVcnmtlhct.
0.3 7heRetoductiono]theta/Socia/0aita/
hc CItCuIt8 OlIndIVIdu CQIl8 tc InlctwIncd aDd Qtc8uQQO8c Onc
nOlhct: lhcCItCuIlOlOncCQIlncCc88Illc8 lhl IlcnCOunlct8 On thc
mtKcl lhc QtOduCl8 OlOlhctCQIl8bOth mcn8 OlQtOduClIOn 8 Wc
8mcn8 Ol8ub8I8lcnCcCOn8umcdbylhc bOt-QOWctIlcmQOy8. 1llhc
IndIVIdu CQIt h8 QtOduCcd COmmOdIlIc8 Il I8 dcQcndcnl uQOn Il8
OWn COmmOdItIc8 cnlctIn_mcCItCuIt8OlOlhctCQIl88mcn8 OlQtO-
duClIOnOt8ub8I8lcnCc. hctcQtOduClIOnOlnIndIVIduCQIlCnnOl
mctclOtc bc COn8Idctcd In I8OlIOn Il I8 Ony QO88Ibc 8 mOmcnl In
thc tcQtOduCtIOn Ollhc tota/socia/caita/, WhICh I8 COn8lItulcd by lhc
cnlItclyOlIndIVIduCQIl8.
bO thl lhc lOl 8OCI CQIt Cn bc tcQtOduCcdthctOl QtOduCt
mu8l hVc CctlIn matetia/QtOQOtlIOnIn_: On lhc Onc hnd CctlIn
mOunl Olmcn8 OlQtOduClIOnhVc lO bc QtOduCcd8 tc tcQuItcdby
IndIVIdu CQIl8 8 WhOcnd On thcOlhct8OmnymcD8Ol8ub-
8I8lcnCchVclObcQtOduCcd8tcCOn8umcdbyWOtKct8ndCQItI8l8.
ul8InCcmcn8Ol QtOduClIOnaDd8ub8I8lcnCctcnOlmctcyaOClcd
bultthctcxChn_cdthcdclctmInlcmlctIQOtlIOnOllhclOl8OCI
QtOduClmu8l8OhVcCctlInca/QtOQOttIOn8O lhllhcmcn8 Ol
QtOduClIOnnd8ub8I8lcnCcCn8ObcQIdlOt.
I 38 AN lNTKODUCTON TO KAKL MAKX'5 AI1
YcCnmKc thI8 QtOQOtuOnIn_ Cctu8In_n cXttcmcy 8ImQIhcd
cXmQc. Lct8 88umcncCOnOmyInWhICh thctc tc OmyWOtKct8nd
CQItI8ls nd In WhICh QtOduCtIOn I8 Ot_nIzcd CQItI8uCy. Lct
u8 8O dI8tc_td hXcd CQItm, mcDn_ thl Wc 88umc tht thc cnutc
COn8tntCQItI8u8cduQW1thIn lhc QctIOdundctCOn8IdcttIOn8y
yctndttan8ct8 It8Vuc lO lhcQtOduCl.
nthI8 cCOnOmy mctc tc lhOu8nd8 OdIhctcntDtnChc8 [8tccIn-
du8tty Chcm1C Indu8tI OOd8tuh8 mnuCtutct8 COthIn_ Indu8tty,
ctC.|and mO8l O lhc8c btnChc8 Cn bc mtthct dIVIdcd IntO numDct
O 8ub-btnChc8. Ot Out QutQO8c8 Wc w Ony dI8tIn_uI8h DctWccn
tWO t_c dcQttmcnt8 OQtOduCtIOn: LcQttmcnlQtOduCc8 mcns O
QtOduClIOn nd LcQttmcnt mcn8 O COn8umQuOn In lhc DtOdct
8cn8c.hcdIhctcnCcbctWccnthctWOdcQttmcnt8Ic8Inthcu8cOthcIt
QtOduCl8: QtOduCt8 tOm LcQttmcnl cnlct IntO mtlhct QtOduCtIOn
QtOCc88c8,WhIc QtOduCt8 hOm LcQttmcnl OW IntO thc COn8umg-
lIOn OWOtk1n_-C88 nd CQItau8thOu8chOd8.A8ctIc8 OQtOduCt8Ot
cmQc utOmODIc8tcdcgulcOtbOthQutQO8c8.tOm Out8ImQ1-
hcd VIcWQOInt ct u8 mtthct 88umc thl utOmObIc8 u8cd 8 mcn8 O
QtOduCtIOntcQtOduCcdInLcQttmcnt Whctc8 utOmODIc8u8cd3
mcn8OCOn8umQtIOntcQtOduCcdInLcQtlmcnt.
bO tht thc tOl 8OCI CQIl Can Dc tcQtOduCcd thc QtOduCt8 O
bOth dcQttmcnt8 CnnOl cXI8t In n tDIttty tctIOn8hIQ Ogunuty
ndVuc.Yc wInItI!ycmInc thcItncCc88tyQtOQOtlIOnIn_undc!
thc QtcCOndIuOn Osim/etetoduuion,mcnIn_ lht Wc dI8tc_td C-
CumutIOnndlhctcOtc 88umc thtlhc cnutc 8utQu8VuchOW8IntO
thcCOn8umQtIOnOthcCQItI8t8.
C
!
ndV
I
tcthcCOn8tntndVtIDc CQItaOtLcQttmcntnd
8
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thc 8utQu8VucQtOduCcdIn lhtdcQttmcnt[WIth C
I!

V
II
nd 8
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thc
COttc8QOndIn_Vuc8 OtLcQttmcnl |thcn thc OOW1n_ I8 VId Ot
lhc tOlmQtOduCtVuc.
nLcQtlmcnt

_
^_

I
nLcQttmcnt
_

THE ClKCULATlON OF CAFTAL I 39

Theproducto|Department!consistsmateriayo|meanso|produc-
on.!|simp|ereproductionistobepossib|e,thenthisproductmustre
p|acethemeanso|productionusedinbothdepartments.There|orethe
|o||owgva|uere|ationmustbevahd:
Theproducto| Department!!consistso|meanso|consumption.!t
mustcovertheconsumptiono| the workersandcapita|istsinbothde-
partments.Thusthe|o||owingmustbeva|id:
From both equations (subtracnng the common e|ements on both
sides)it|o||owsthat:
Thusthevueo|theconsntcpita|usedinDepmentU mustbe
equiv|entuthev|ueo|vaab|ecapita|ands|usvmueinDeparment!.
Butindividua|capita|sp|antheirproductionindependento|onean-
other,and|orthatreasonthecondinons|ormu|atedabovecanon|ycome
aboutcoincidenta||Normm|y,acertaindisproportionbetweentheindi-
vidua|departmentsw a|waysoccur.
!|wenowconsidertheoansiono]tqtoduuion,musassumingtheex-
istenceo|accumu|ation,meangthetrms|ormanono|aportiono|suq|us
vueintonewcapita|,menwecaninprincip|emakemesmeassertion:
eproducto| Deparment!mustnownoton|ysumcetorep|acethemeans
o|produconusedinDeparmentsIandI!,butmusta|soproducemore
meanso|productiontomakeaccumu|ationinbothdepartmentspossib|e.
The same is true |or Deparment !!: now enough mems o|subsistence
have to beproduced noton|y to covertheconsumpnon o|workersand
capitmistsbutasadditiona|meanso|subsistencetocovertheconsumption
o|theaddinon yemp|oyed|abor-power.
!n orderto makeaccumu|ationpossib|e,bomdeparmentsmustpro-
ducemorethanwasprevious|yused:theaccumu|ationo|oneindividua|
\ 40 AN lNTKODUCTlON TO KAKL MAKX'5 AI1A
capitapresupposesthe accumuation oFothercapitas,intwo regards:
thoughouraccumuatingindividumcapitamustencountermoreprod-
uctsonthemarketthanbeFore,ititseFproducesaargerquanntyoFcom-
modiues,whichcanonybesodwhenotherindividuacapitasmsoac-
cumuate.Inmscase,thecorrectproportionscanasoomybemaintained
bycoincidence,anddisproportionsbetweendepartmentsaretherue.
InthehistoryoFMarxistdebates,thetetoducnonschemasiustrated
abovepayedanimportantroeatthebeginningoFthetwentiethcentuty,
inspiringdiscussionoverwhetheracrisis-6eecapitaismwaspossibeat
eastinprincipeandwhatdeveopmentaperspecnvesexistedForcapita-
isminunderdeveopedcountriessuchasRussia[seeRosdosky, I98b,
Milios]Economakis,2003).Butthesedebatesburdenedtheseschemas
withtoomuchexpanatorypower.ThoughtheyoerabroadovervieweF
capimistproductionand circuation,theyareaongway6ombeing
exactdepicuonoFcapitmistreproductionasitexistsinempiricareaity
Rader,theunityoFtheproductionandcircuationprocessexpressedm
thereproductionschemasconstitutestheimuaFoundationuponwhich
categoriesinwhichconcretereationsareexpressed,suchaspro6t,inter-
est,enterpriseproht,capitastock,etc.,canbemeaningmyconsidered.
. tOht PVCt_C tOht nU tC
"W O tC CnUCnCy O tC
HtC O tOht tO
nChQtct8 7thtOu_h I0 Wcw dcWImthcmc8hOmthcthItdVOumc
O0aita/.YIth thI8VOumcWc cnCOuntct thO8c Ctc_OtIc8 thtcXQtc88
thc"cmQItICMtcMItyOCQItb8ttctIOn8,mcnIn_thcWythcCQItM-
utmOdc O QtOduCtIOnQQct8tO OutImmcd1tcQctCcQtIOn.%mCht-
CtctIZc8 thc COntInuIty Othc thtcc VOumc8 O0aita/Inthc OOWIn_
WytthcDc_InnIn_ OmcthItdVOumc.
n No!umc wc InVc8lI_8lcd lhc Qhcnomcn8 cxhIDIlcd Dy lhc tocess
o[caita/isttoduction l8Kcn Dy Il8c!l I.c. lhc ImmcdI8tc QtoduClIon
QtoCc88, In whICh ConncClIon 8cCond8ty InucnCc8 cxlcD8! lo lhI8
QtoCc88wctc!clloutol8CCounl.ullhI8ImmcdI8tcQtoduCtIonQtoCc88
doc8nolcxh8u8tlhcIlcCyC!colC8QIt8!.nUcwod 88 Il8Clu8y I8,It
I88uQQ!cmcnlcdDythctocesso[citcumtion,8ndthI8lotmcdoutoD_cCl
olInVc8tI_8lIon Inthc8cCondVoumc. 1ctcwc 8howcd,Q8ttICu!8t!y In
8tt3htcc,whctcwcCon8Idctcdlhc CItCu!8lIonQtoCc8888 ItmcdI8lc8
Uc QtoCc88 ol8oCI8! tcQtoduClIon, lh8l lhc C8QIl8I8tQtoduCuon Qto-
I 42 AN lNTKODUCTON TO KAKL MAKX'5 AI1AL
cess, taken as a whole, is a unity oF the production and ctculation pro-
cesses. !t cannot be the purpose oF the present, third volume smply to
make general redections on dis unity. Our concen is rather to discover
and present the concrete Forms which grow out oF the tocesso[caita/'s
mooementconsidetedU awho/e.!n their actuaI movement, capitals con-
hont one another in certain concrete Foms, md, in relation to these,
both the shape capital assumes in the immediate production process
and its shape in the process oF circulanon appears merely as particuIar
moments. The con6gurations oF capital, as developed in this volume,
thus approach step by step the Form mwhich they appear on the surFace
oF society, in the action oF diderent capits on one another, i.e. mcom-
petition, and mthe everyday consciousness oF the agents oF production
themseIves. (0aita/,3: I I 7)
7. 1 0ostPtice,Pto]t,andtheRateo]P:]t
0ategotiandEcedaNstcation
hcVuc OlcVcIy CQIlMI8lICyQIOduCcdCOmmOdIlyCnDc dcQIClcd
8 L c WhcIc L dcnOlc8 lhc V8uc Ollhc mcn8 OlQIOduCuOn u8cd
nd c* lhcVuc ncWy CIclcd Dy lhc cXQcndIluIc OlIVIn_ DOI.1OI
lhc CQIlMI8l c* cI8 lhc c88cnlI gunlIly: Il IndIClc8 Whl lhc COm-
mOdIty CO8l8 lhc CQIl18l. %IX IclcI8 lO lhI8 gunlIty 8 lhc costtics
Ollhc COmmOdIty.
P8lI 8 lhc CIclIOnOllhc COmmOdIly8VMucI8 COnCcDcdcnd
QyCOmQclcydIhcIcnlIOc8:lhcV8ucOllhcmcn8Ol QIOduClIOnu8cd
I8 lIn8lcIIcd lO lhcQIOduClWhIclhcVMucOlMOI-QOWcIh8nOlhIn_
lO dO WIlh lhcVMuc OllhcQIOduCl8InCcncWVucD8cduQOnlhccX-
QcndIluIc OlDOI-QOWcI I8 lIn8lcIIcd lO lhc QIOduCl. %dcmtICy
lhI8ncWVuc I8 cgu lO c*s[8cc8cCuOn5. I )e
OWcVcI,lhcdIhcIcnlIOc8QycdDycnd cInlhcCIclIOnOlV8uc
Ic nOl ImmcdIlcy QQIcnl.O WIl: In lhc lOIm Ollhc W_c M DOI
QQcI8 lO Dc QId DOI. Ilh c,DOI8 COnlIIDuuOnOlVMuc lO lhchn-
I8hcd QIOduCl8ccm8 lO DcCOmQcn8lcd]u8l8 Inlhc C8c OlclhcV8uc
COnlIIDulcd Dy dc mcn8 OlQIOduCtIOn I8 lO Dc QId. P mndmcnl
FKOllT, AVEKAGE FKOlT I 43
d ctcnCcDctWccnDOthCOmQOncnt8OCQItI8 nOtQQtcnt.hc 8Oc
d ctcnCcnOtICcaDctOthcCQItI8tI8thtDctWccnhcdndCItCutIn_
CQIt cVcn thOu_h thc dIhctcnCc DctWccn hcd ndCItCuun_ CQIt
h8 nOthIn_ tO dO WIth thc CtcuOn OVucDuttthctWIth thc umc O
thctctuDO Vuc[8cc 8cCtIOn .2).
butQu8 Vuc I8 InItIy_u8t 8utQu8 Othc COmmOdIty8 Vuc
mOVc It8 CO8tQtICcWhICh I8 tO 8yDOVc thcVuc 8Qcnt OnIt8QtOduC-
uOn.hcCQItI8tI8WtcthtthI88utQu8h8It8OtI_InInthcQtOduC-
bVc QtOCcdutc8thtOCCutwthhI8 CQIL.tOWcVct 8InCc thcCQItI8t
QctCcIVc8 nO dIhctcnCc~WIth tc_td tO thc CtctIOn OVuc~DctWccn
thcCOnttIDutIOnO IndIVIduCQItmQOttIOn8thI88utQu8 8ccm8 tOcm-
ntchOmaQOttIOn8 OCQItcguy[hOmCOn8tntndVtIDcCQI-
M_u8t 8 muCh8 hOmhcdand CItCutIn_CQIt|.'
butQu8Vuc8thchuItOthctOtCQItdVnCcdI8to]t.1nthc
C8c OQtOhtthc 8mc guanutyI8 8ct In tctIOn tO thcVuc Othc tOt
CQItm dVnCcd tthct thn_u8t thc Vuc ODOt-QOWct. ut QtOht I8
nOt_u8tnOthctWOtdOt8utQu8Vuc.1tI8mQOttnttOnOtcthtQtOht
I8 InKcd tO COmQctcy dIhctcnt nOuOn Onc tht my8tIhc8 thc Ctu
COndItIOn8. butQu8 Vauc I8 thc 8utQu8 OncWVucCtctcd Dy IVIn_
DOt DOVc thc Vuc ODOt-QOWct thc cXQcndItutc OIVIn_ DOtI8
[undct CQItI8t COndItIOn8| thc 8OutCc O8uQu8 Vmuc. tOht On thc
Othct hnd I8 thc 8utQu8 Othc COmmOdIty8 Vauc aDOVc thc QOttIOn
OCQIt dVnCcd tht I8 u8cd m thc COmmOdIty

8 QtOduCtIOn hctc
CQItm QQct8 8 thc Cu8c OQtOht. %m 8ummtIZc8 thc dIhctcnCc
Dcwccn8utQu8VucndQtOht8OOW8:
n surQus-V8uc thc rc8tIOnshIQ bctwccn C8QIt8 8nd 8bOur Is 8Id b8rc.
n thc rc8tIOnshIQ bctWccn C8QIt8 8nd QrOht, I.c. bctWccn C8QIta 8nd
surQus-Vauc 8s It 8QQc8rs On thc Onc h8nd 8s an cxCcss OVcr thc COst
QrICc Ol COmmOdIty rc8Izcd In thc CIrCu8tIOn QrOCcss 8nd On thc Othcr
h8nd 8s 8n cxCcss dctcrmIncd mOrc QrcCIscy by Its rc8tIOnshIQ tO thc
tOta C8QIta caita/8QQc8rs ate/atiomhitoiteg8 rc8tIOnshIQ m
WhICh It Is dIstIn_uIshcd, d 8n OrI_In8! sum Ol V8!uc hOm 8nOthcr ncW
V8uc th8t It QOsIts. t Is In COnsCIOusncss th8t C8QIta _cncr8tcs thIs ncW
Vauc In thc COursc Ol Its mOVcmcnt mrOu_h thc QrOduCtIOn 8nd CIrCu8-
I 44 AN lNTKODUCTlON TO KAKL MAKX'5 AI1A
tIOn QrOCcsscs. ut hOW thIs h8QQcns Is nOW mystIhcd 8nd sccms u
dcrIVc hOm hIddcn Qu8ItIcs th8t 8rc Inhcrcnt In C8QIt8 Itsc. (0ata/,
3: I39,8st tWO scntcnCcs In COrrcCtcd tr0ns8tIOn|
IOhl8 my8lIhCalIOn OlaClum Ic!auOn8 ha8 anOlhcI my8CalIOna8
aQIc8uQQO8IlIOnnamc!y lhc COnCcQlIOnOllhc Wa_c a8 lhc QaymcnlOl
!MOI. Ony DcCau8c lhc Wa_c I8 nOl VIcWcd a8 Qaymcnl Ol lhc Va!uc Ol
!aDOI-QOWcIDulIalhcI a8 lhcQaymcnlOllhcVauc Ol!aDOI, Can 8uIQ!U8
VaucaQQcaIa8QIOhllhalI8,a8 lhcuIl OlCaQIlm.
ouIQ!u8VaucInlhclOImOlQIOhlI8nOl _u8laCOnCcQlIOnlhalmy8lI-
hc8 aClua!Ic!alIOn8lhI8 COnCcQlIOnI8OlQIaCuCmIc!cVanCc8InCclhcIn-
dIVdua CaQIl8I8lI8On!yInlcIc8lcdInQIOhla8a8uIQ!u8OllhcCOmmOCI-
ly8Va!ucaDOVclhcVa!ucOlCaQIlaIcguIIcdlOIIl8QIOduClIOn.hu8,c
mca8uIc OlVaOIIZauOn lOI lhc CaQIlaI8lI8 nOl lhc Ialc Ol8uIQ!u8 VaUc
s/c,DulIalhcI lhc tateo]to]t s/[c*c|. LVcIy lImc CaQIla I8 adVanCcd
lhc CaQIlmI8l ha8 an InlcIc8l In lhc hI_hc8l QO88ID!c Ialc OlQIOhl d
guanlIlyI8dcCI8IVclOIlhcQIaClICaaClIVIlyOllhcCaQIlmI8l.
hc Ialc OlQIOhl Can Dc IaI8cdundcI OlhcIWI8c COn8lanl COnd-
uOn8Dy an InCIca8c In lhc Ialc Ol8uIQ!u8 V8!uc [8cc ChaQlcI 5 On lhc
QIOduClIOn OlM8O!ulc and Ic!alIVc 8uIQ!u8 Vmuc|.ul lhc Ialc OlQIOhl
Can a!8O Dc InCIca8cd undcI a COn8lanl [and cVcn laIn_| Ialc Ol8uIQ!u8
V8!uc.undamcnla!y lhcIc aIclhIccQO88IDIIlIc8.
I . ECONOMY I N THE U5E OF CON5TANT CAP ! TAL. hc cc
mcnl8 OlCOn8lanl CaQIla aIc dcml WIlh 8QaIIn_!y ouCh 8aVID_8 Ca
aII8c hOm an extensiono]theco/umeo]toduction:QIOduCuOn lhal I8
InCIca8cd lWOlO!d dOc8 nOl ncCc88a!y IcguIIc dOuD!c lhc amOunl Ol
cncI_y DuIdIn_8, clC. hI8 I8 c8QcCIay lhc Ca8c Whcn lhc cxlcn8IOn
OlQIOduCuOn I8 aChIcVcd lhIOu_h an cxlcn8IOn Ollhc WOIkday. ID a
lWO-8hIll WOI!aCc Onc Cm QIOduCc lICc a8 muCh WIlh lhc 8mc
maChInc8andDuI!dIn_8a8InaOnc-8hIllWOIkQ!aCc.Ln!yUcIaWmalc-
IIa8 haVc lO Dc dOuD!cd. Pl a COn8l8nl Ialc Ol8uIQ!u8 Va!uc 8uQ!u8
Va!uc 8Dd VaII8D!c CaQIlm dOuD!cDul Uc COn8l CaQIla mCIca8c8Dy
laI!c888OlhallhcIalc OlQIOhlInCIca8c8cnOImOu8!y. cnCc lhc CaQI-
l81I8l Can ahOId lO Qay OVcIumc and nI_hl-8hIllDOnu8c8. Luc lO Us
FKOFlT, AVEKAGE PKOFlT I 45
lhcIalcOl8utQ!u8Va!ucdcCIca8c88I_hl!yDulOnlhcDa8I8OllhccnOI-
mOu8 8aVIn_8OlCOn8lanlCaQIlalhcIalcOlQIOhlnOncmcc88InCIca8c8.
Pl a constantco/umeo]duction, 8aVID_8 In COn8lmlCaQIlmCan Dc
aChIcVcdDyamOIcIauOnau8cOl IaWmalctIa!8 andcnct_yDula!8Oal
lhcCO8lOllhcaDOIcI8u Culun_DaCkOn8alclymca8uIc8OIDyaCCcQl-
In_aDOIQtOCc88c8 lhalatc dm_cIOu8 u WOIkcI8hcalh. Yc aIcady
addIc88cd lhc cCOnOmIZauOn In lhc aQQ!ICauOn OlCOn8lanl CaQIla! In
8cCuOn5.3,DulOn!y38Omcln_lhalIcduCc8 lhc CO8lOllhcQIOduCl.
OWIlI8C!catlhalmI8a!8OInCIca8c8lhcIalcOlQIOhl.
2 . E CONOM! Z AT! ON ! N THE P RODUCT! ON OF CON 8TANT
CAP ! TAL. llhcVaucOl lhc c!cmcnl8Ol COn8laDlCaQIla! dcCIca8c8
lhcnlhcVa!uc OlCOn8lanl CaQIla! a!8O dcCIca8c8WlhOulncCc88Ilal-
In_ myChan_c In lhc COnCIclc mclhOd OlQIOduCuOn. hcInCIca8c
In lhc Ialc OlQIOhl In Onc 8QhcIc I8 lhu8 a Ic8u!l Olan InCIca8c In
QtOduClIVIlyIn anOlhcI 8QhcIc.
J . ACCELERAT! ON OF THE TURNOVER OF CAP! TAL . l8nInd:-
Vdua CaQIla! luIn8 OVcI lWICc In aycaI lhcn lWCc a8 muCh 8utQu8
Va!ucI8QIOduCcdlhanInlhc Ca8c OlaCaQIlaWhIChundcIlhcIWI8c
IdcnlICa!COndIlIOn8OmyluD8 OVcIOnCcInaycaI.hcIalcOlQtOhl
Ollhc hI8lCaQIlaWOu!d lhu8DclWICca8hI_ha8 lhalOllhc 8cCOnd.
PCCc!cIalIOnIn lhcluDOVcIOlCaQIlaInCIca8c8lhcIalcOlQIOhl.
7. 2AcetagePto]tandPticeso]Ptoduction
Lnc lhIn_ DcCOmc8 ODvIOu8 ID !I_hl Ollhc mclhOd dc8CIIDcd aDOVc lOI
IaI8In_ lhc Ialc OlQIOhl undcI an OlhcIWI8c COn8lanl Ialc Ol8u!u8
Va!uc:lWOCaQIla8lhalQIOduCcWIlh lhc 8amcIalc Ol8utQ!u8VauchaVc
dIhcIcnlIalc8 OlQIOhlIllhcycxhIDIlad tentcomositiono]caita/CjV
al an OlhctWI8c cgua! luDOVcI lImc OI Illhcy cxhIDIl d etenttuocet
timesInlhc Ca8c Olan OlhcIW8c cguaCOmQO8IlIOnOlCaQIla!.
OI C!aIIhCalIOn8 8akc, cl8 u8c a numctICa cxamQ!c a88umIn_ lhc
Ialc Ol8uIQu8 Va!uc I8 a unIlOIm I00QcICcnl,WhI!c dI8Ic_aIdIn_ hxcd
I 40 AN lNTKODUCTlON TO KAKL MAKX'5 AJ13
capita.Thetwo capitasAand shaIhavethesametunovertimeof
one year. ForcapitaA, c= 90 and c= I0, forcapita c~0 and *
40.ThencapitalAshoudproduceasurpusvalue s I0, capitalAs
rateofprohtamountsto I 0j(90* I0)~ I0percent.Capita produces
asurpusvaIueofs~40,therateofprohthereountsto40j(0 40)
=40percent.TheunequacompositionofcapitaeadstodiBerentrates
ofproht.thehigherthecompositionofvaue,theowertherateofproht.
Nowet'stakeaookatcapitaC,whichhasthesamecompositionof
value as capitaA,butatunovertime ofceayear.Itssurpusvae
istherefore2xI 0 20,and its rate ofprohtamountsto20j(90* I0)"
20percent,whereascapitaAonIyachievesarateofprohtofI 0percent.
Theshorterthetunovertime,thehigheristhe(annua)rateofproht.
However, the composition ofvalue and the tunover time ofcapi
ta cannot be arbitrariIy seected by the capitaists, but are bound by
the concrete conditionswithinindividua branches. inasteem ,for
exampe,consideraby more constant capitaI in proportion to variabe
capital is empoyedthanin the cothingindust. Ifcommoditieswere
sodattheirvaIues,"that is,ifthe normaprices ofcommoditieswere
anadequateexpressionofthevaueofcommodities,thentheremustbe
competeydiBerentratesofprohtsamongtheindividuabranches,even
ifthe rate ofsurpus vmue, theexpoitationofabor-power,isthesame
everywhere.The soe aim ofcapitaisvalorization.The soe interestof
theownerofcapita,insofarasheorshebehavesikeacapitaist,thatis
to sayas capita personihed,consistsinachievingthegreatestpossibe
vaorizationofhisorheradvancedcapitaI.IfdiBerentbranchesoBerdif-
ferentratesofproht,mencapitaIistswiltry toputheircapitaI outof
brancheswthowratesof prohtandinvesttheircapitainbrancheswth
higherratesofproht.Ifthemovementofcapitabemeenbranchesispos-
sibe (and not, forexampe,impededbyegmrestricons),thenmore
andmorecapitawilowintobrancheswithhighratesofprohtandout
ofbrancheswithowerratesofproht.Thiseadstotheamountofava
abe commodities increasingin branches wth high rates ofprohtand
decreasinginbrancheswim owrates ofproht.Due tothe competition
betweencapitaists,theincreasingsuppyinthebrancheswthinitialy
highrates ofprohtw onthe onehandeadtodecreasing sales prices
lKOFlT, AVEKACE lKOFT I 47
and utimatey decimng proht rates, whereas on the other hand me de-
cining supp|y in the branches with initia|y |ow rates of proht |eads to a
rise in prices and utimatey increasing rates of proht. The dierent rates
of proht equaIize into an acetageor geneta/rate of proht.
The average proht attained by an indivIdum capita is equa to the
cost-price of a commodity (the costs of means of production and wages
per commodity unit) mutipIied by the average rate of proht. The prices
of production resu|t 6om the sum of the cost-price and the average rate
of proht. ' If the disbursements for means of production amount to I00
euros, for wages 20euros, and if the average rate of proht is I0percent,
then the cost-price of the commodity is I20euros, the average proht I2
euros and the production price is I32euros.
To the individua capitaist, this average proht appears to be a pre-
mium added to the cost-price. For him, the eve of his indivIdum proht
appears to depend upon two quanuties: me smes price set by the mar-
ket," that is, the price at which he can se|| the commodity and the eve
of the cost-price. If he can keep the cost-price down, such as through the
increased use of machinery and the decreased use of labor-power (see
section 5.2 on the production of reative surp|us va|ue), then he can add
more than the average pro6t to the pricethus obtaining an extra pro6t-
and sti se| the commodiq at its market price.
The actua proht of an individua| capita, which can deviate 6om the
average proht, thus seems on the one hand to depend upon objective
conditions (market prices) and on the other hand upon the subjective
ski|| of the capitaist in producing at a |ow cost of production. The fact
that proht rests upon the appropriauon of surp|us abor is not apparent.
_uite the contrary: if the indivIdum capitaist manages to produce with a
decreased amount ofabor, then usuay his proht wi| increase.
But in Bct average proht is mso dependent upon surpus vaue. not the
surpus vmue of the indicidua/unit of capita, but rather 6om the surp|us
vaue produced in the economy as a who|e, that is, 6om the surp|us value of
the tota/socia/caita/.The equaIization of rates of proht to a generm rate of
proht means noming other man a redistribution of me tom socia surp|us
vaue. If commodiues were to echange at meir vaues, men eve capita|ist
wou|d receive me surp|us vaue produced with the hep of his indivIdum
I 48 AN lNTKODUCTlON TO KAKL MAKX'5 A1A
capitaI,andtheprohtrates olvarious capitaIistswouIddivergewdeIy!l
commoditiesareechangedaccordingtopricesol producuon,denevery
capitaIistobtainsaprohtthatonaverageisproporuonaItodemagitude
olthecapitaIhehasadvanced,meaningdateachcapitaIachievesonaver-
agedesamerate olpro6t.Thecapitistsbehavetowmdtheaverageproht
msharehoIdersnacorporauon: theproportionaIprohtu thesamelor
everyone,eachsharehoIderobtansashare oldebusiness'sprohtspro-
poruonatetodemagnitudeolhismvesment.
!n thethirdvoIumeol0aita/,MarxsLetchedoutasimpIequanti
taticemethodolcaIcuIation to arrive homasystem olvaIue (meaning
thatlorthevariousbranches,c, c,andsare givens,and shouIdbethe
sameloraIIcapits widinabranch) atasystemolproduction prices.
ThismethodolcaIcuIation,however,hasproventobewrong.Thelact
thatitcontains an errorwas aIso noted by Marx [0aita/,3: 25),but
heunderestimatedthe ehecm olthis error. The translormationprob-
Iem,"thequestionas tohow(andwhether)magnitudesolvuecanbe
translormedintoproductionprices,wasdiscussedintensiveIyintheIast
century(I deaIextensiveIywiththisdebateinHeinrich,I999).
utwithinthehameworLolamonetattheoryolvaIue,therecanbe
nopointtoanysortolprocedurelorcaIcuIatingproductionpriceshom
vaIues. '"Rather,thetranslormationol vuesintopricesolproduction"
represents a concetua/adcancementolthe lorm-determination olthe
commodity.
OnecanonIyspeaLolanexchangeo]ca/ues as Iongas thesoIede-
terminingmomentolexchangeisthereIationolindividuaIIyexpended
IabortothetotaIIaborolsociety.FortheindividuIyexpendedIaborto
constitutevue,thethreeactsolreductionconsummatedinexchange
must be given (see section3.3).The commodityin this case (that is,
thecommodityasdeaItwithinchapter3)isacapitisticaIIyproduced
commodity, butthe examination olthe commodityabstracts hom the
existenceolcapitaI.
The concepts thus gainedvaIue, magnitude ol vaIue, money,
etc.-constitute the categoricpremisenecessarylor the depictionol
theproductionandcircuIationprocessesolcapitaI(seechapters5and
). ut capitaI as deaItwith in these anaIysesis stiII not capitaI asit
PKOFlT, AVEKACE PKOFlT !49
eistsinits empiricaI,individuaI manilestations. OnIy alter capitaI is
depictedas theunityolproductionandcircuIationareweatthepoint
wherewecandeaIwiththemndamentaIpropertiesolempiricaIIyexist-
ingindividuaIcapitaIs.
Thetransitionhomca/ueandsu:/usca/uetotoductionticeand
acetageto]tisnotahistoricaIorevenatemporaIsequence,butrather
atransition between diherent/ece/ o]dctition.AttheIeveI olvaIue
and surpIusvaIue,the capitaIistsociaIizationviaexchangeisconceived
mstractIy,andexchangeisdeterminedbythereIauonshipolindividuaIIy
expendedIaborto the totaI Iabor olsociety, atthe IeveI olproduction
priceandaveragepro6t,exchangeisdeterminedbythereIationshipol an
individuaIcapitaItothetotaIsociaIcapitaI.Hereitbecomesmanilestthat
exchangeisnotmereIythesociaIizationol commodityproducers,butthe
sociaIizationolcaita/istcommodityproducers.'
7.J TeLauo]theTendenqo]theRateo]Pto]ttoFa//":
A0titique
!ntheIate eighteenthandinthenineteenthcentury,thenotionthatthe
averagerateolpro6tinthedeveIopedcapitaIistcountrieshasatendency
tolaIIwas considered anindisputabIe empiriclact,thoughmerea-
sonslorthelaIIoltherateol pro6tweresubjecttodispute.Therecanbe
manydiherentcausesloralaIIintherateolpro6t,risingwages,lorexam-
pIe,orariseinmepriceolrawmateriaIs.utthosecausesareolarather
coincidentaI and temporarynature: wages can once again decIine, and
rawmateriaIscanbecomecheaper,sothattherateolpro6trisesagain.
WhatMacintended to showundertherubricIaw olthe tenden-
cyoltherate olprohttolaII"wasthat,independentolsuchtemporary
causes, there is a tendencylorthe rate olpro6t to laII deriving hom
thenatureolthecapitistmodeolproductionitseIl"[0aita/,3: 3I9).
Thatis,disregardingaIIparticuIarcircumstances,thegeneraIproperties
olcapitistdeveIopmentshouIdbringabouta tendency olthe rate ol
pro6ttolaII.WhetherornotMacmanagedtoprovideproololthisisa
topicolheateddebate.
l 50 AN lNTKODUCTlON TO KAKL MAKX'5 AJ1A
PtthcDc_InnIn_ OthI8 ChQtctItW8 QOIntcd OutthtthcttcO
QtOht Cn Dc tI8cd thtOu_h thc cCOnOmIZtIOn OCOn8tnt CQIt Ot
thtOu_h thc CCccttIOn OCQIt tuDOVct Dut tht thc Ctu 8OutCc
OVOtIZtIOn I8 thc cXQOIttIOn ODOt-QOWct. n ChQtct 5 It W8
mdc Cct tht thctc tc tWO mndmcnt QO88IDIItIc8 Ot InCtc8In_
thc cXQOIttIOn ODOt-QOWct. cn_thcnIn_ ODOt-tImc ["QtOduC-
tIOnOD8Outc8utQu8Vuc| ndtcduCIn_thcVucODOt-QOWct
thtOu_hnInCtc8cInthcQtOduCtIVItyODOt["QtOduCtIOnOtctIVc
8utQu8 Vuc|. hc cn_thcnIn_ ODOt-tImc I8 hOWcVct, Ony QO8-
8IDcWIthIn ImIt8,thu8 thc jQICy CQItI8t mcthOd Ot InCtc8In_
cXQOIttIOnI8 thc QtOduCtIOn O"tctIVc 8utQu8 Vauc,nd thtOu_h
thc ImQcmcnttIOn OInCtc8In_y cXQcn8IVc mChInc8 t tht. hc
COn8tnt tcVOutIOn OQtOduCtIOn nd thc InCtc8In_ dI8QCcmcnt O
humn DOt thtOu_h thcInttOduCtIOnOncWct nd mOtc cmCIcntm-
ChInc8~thI8 I8 thc QICtutc _IVcn Dy thc CQItI8t mOdc OQtOduCtIOn
8InCc thc tc cI_htccnth Ccntuty. buCh n CCccttcd dcVcOQmcnt O
thcOtCc8 OQtOduCtIOndIdnOtcXI8tInny Othct mOdcOQtOduCtIOn
QtcCcdIn_CQItI8m.
n ChQtct5. 2, ItW88hOwUtthcIndIVIdu CQItI8t8 InttOduCc
QtOduCtIVIty InCtc8c8 In Otdct tO ChIcVc n cXtt-8utQu8 Vuc [Ot
tthct8Wc Cn nOW 8y, n exttato]ta|ocetheacetageto]t).hI8
cXttQtOht dI8QQct8 Whcn thc InCtc8c In QtOduCtIVIty I8 _cnctIZcd.
hcnthcVuc ndthcQtOduCtIOnQtICc OthcCOmmOdItytc8QcCtIVcy
dcCtc8c.n8Ot8thc COmmOdItycntct8IntOUc COn8umQtIOnOWOtK-
In_-C88 hOu8chOd8, thcn thc Vuc ODOt-QOWct a8O dcCtc8c8 8O
tht8 tc8utthcttcO8uQu8VMucInCtc8c8.
%mIntcnd8 tO QtOVc thtthcVct_cttcOQtOht8 duc tO thI8
tyQICy CQItaI8t mcthOd OInCtc8In_ QtOduCuVIty: 8 tc8ut Othc
Cc8cc88dtIVcOtcXttQtOht,nOtOny8hOud UctcDcdcCtc8cdVuc
[OtQtOduCtIOnQtICc|OthcCOmmOdIty8tc8ut Othc_cnctIZtIOnO
thcncWCOndItIOn8 OQtOduCtIOn,Dut 8O [DchIndthcDCK8 nd_In8t
thcWI8OthcIndIVduaCQItI8t8|dcCIncInthcVct_cttcOQtOht.
Ot%tX,thctcndcnCyOtthc ttc OQtOhttO a nd CQItI8tdc-
VcOQmcnt Othc OtCc8 OQtOduCtIOn tc tWO 8Idc8 Othc 8mc COIn.
%mhdDccnDctO COnCu8IVcyQtOVcthcCOnncCtIOnthcnhcWOud
PKOlT, AVEKAGE PKOFlT O 1
h8VC shOWn lh8l 8 l8In_ t8lC Ol QtOhl DCOn_s lO lhC "CssCnCC Ol C8QIl8-
Ism. YC w nOW l8kC 8 dCl8ICd OOk 8l %8tXs 8t_umCnl8lIOn.
l lhC 8VCt8_C t8lC Ol QtOhl l8s lhC IndIVIdu8 t8lCs Ol QtOhl lOt 8
C8QIl8 unIls dO nOl nCCCss8tIy h8VC lO l8. OWCVCt, lhIs musl DC lhC C8sC
lOt mOsl Ol lhC 8t_Csl IndIVIdu8 C8QIl8s. l lhC l8!:n_ t8lC Ol QtOhl Is In
l8Cl 8 lyQIC8 lCndCn lhCn Il musl dCmOnslt8lC IlsCl In lhC C8sC Ol 8 lyQI
IndIVIduM C8QIl8. %8Os 8t_umCnls tClCt lO suCh 8 lyQIC8 IndIVIdu8
C8QIl8. gusl 8s %8tX dId WC w tCm8In In lhC lOOWn_ 8l lhC CVC Ol V-
uC [QtOduClIOn QtICCs Cnl8d 8ddIuOnM COmQIC8uOns| dIstC_8tdIn_ hXCd
C8QIl8 8nd 8ssumID_ 8 COnsl8nl luDOVCt lImC Ol OnC yC8t. hC QtOduCl
lhus h8s 8 V8uC Ol cc* s 8nd lhC t8lC Ol QtOhl 8mOunls lO s j [c*c).
s dIsCussCd In Ch8QlCt 5, 8s 8 COnsCguCnCC Ol InCtC8sIn_ QtOduC-
lIVIly VI8 lhC ImQCmCnl8lIOn Ol m8Ch:nCty lhC t8lC Ol sutQus V8uC s/c
InCtC8sCs 8s dOCs lhC V8uC-COmQOsIlIOn Ol C8QIl8 c/c.hC gu8nlIl8lIVC
dCVCOQmCnl Ol lhCsC lWO m8_nIludCs Is dCCIsIVC lOt lhC mOVCmCnl Ol lhC
t8lC Ol QtOhl. l OnC dIVIdCs lhC numCt8lOt 8nd dCnOmIn8lOt In lhC 8DOVC
lOtmu8 lOt lhC QtOhl t8lC Dy c[WC 8tC mCtCy 8DDtCVI8un_ lhC b8ClIOn Dy
c,lhus nOl Ch8n_:n_ lhC numCtIC VMuC Ol lhC b8ClIOn| lhCn WC ODl8In lhC
lOOW:n_ CXQtCssIOn lOt lhC t8lC Ol QtOhl:
s sjc sjc
m m
c c
cjc* cjc cjc
CtC, lhC t8lC Ol sutQus V8uC 8nd lhC V8uC-COmQOsIlIOn Ol C8QIl8
8tC VIsIDC 8s dClCtmIn8nls Ol lhC t8lC Ol QtOhl.
%8O D8sCs hIs 8t_umCnls lOt lhC lCndCnCy Ol lhC t8lC Ol QtOhl lO h
uQOn 8 tIsC In c/c.l s/cWCtC lO tCm8In COnsl8nl lhCn 8 tIsC In c/c WOud
8ulOm8lIC8y C8d lO 8 dCCInC In lhC t8lC Ol QtOhl [lhC numCt8lOt Ol Out
b8ClIOn tCmmns COnsl8nl lhC dCnOmIn8lOt InCtC8sCs, 8nd lhus lhC V8uC
Ol lhC b8ClIOn dCCtC8sCs|. OWCVCt, %8O C8Ims lh8l lhC t8lC Ol QtOhl
8sO l8s In lhC C8sC Ol 8n InCtC8sIn_ t8lC Ol sutQus V8uC.
lDOlh lhC t8lC Ol sutQus V8uC s/c8nd lhC VMuC-COmQOsIlIOn Ol C8QI-
l8 c/cInCtC8sC lhCn lhC QtOhl t8lC Ony l8s Il c/c * I[lhC dCnOmIn8lOt Ol
Out b8CuOn| InCtC8sCs ]atelh8n s/c [lhC numCt8lOt|. n OtdCt lO QtOVC
lh8l lhC t8lC Ol QtOhl nCCCss8tIy l8s Il Is nOl sumCICnl lO QtOVC lh8l
I 52 AN lNTKODUCTlON TO KAKL MAKX'5 AI1
c[cincreases.Onemustsoshowthatc/c increases| acettaindegtes
that the conditionjustnamed is 6xIhIIed.Ad here Iies the mndamen-
taI dimcuIty loreveryproolol the Iaw ol the tendency olthe rate cl
pro6ttolaII":ageneraIstatementaboutthedsgee]incteaselorc/c isnot
possbIe.!n onecase,aspecihcincreaseinproductivitycanbeachieved
throughasmaIIquantityoladditionaIconstantcapitaI,c/c thusincreases
onIyaIittIebit,whichcanIeadtotherateolprohtrising,notl ng,d
aresuItoldeincreasingrateolsuqIusvaIue.!nanothercase,thesame
proportionincreaseinproductivitymayrequireaIarge amountolad-
ditionaIconstantcapitaI,c/c thusincreasesstrongIy,andtherateolpro6t
eventuIydechnes.
Mac aIso does notattemptto directIyprovethatc/c aIways rises
to such a degree that the rate olpro6tlm s.!nstead,he starts withde
amount olsurpIus vue (the mass ]su/u ca/ue). The tot surpIus
vaIueolacapitaIresuItshomtheaverageper capitasuqIusvuemuIn-
pIiedbythenumber olworLers,wheretheaverageper capita suqIus
vueisequaItotherateolsurpIusvues/cmuItipIiedbytheaverageper
capitawageV_.Thus,lorthetotaIsuqIusvaIue:
s s[c * N_ *
!lthenumberolworLers decIines,thenthesuqIusvaIueproduced
is reduced. utu therateolsurpIusvaIueincreases atthe same time,
thenthedecIine inthenumberolworLerscanbecompensatedlorand
the same mass olsurpIusvaIueisproduced,thisisonIythe casewthin
certainIimits,however, since the surpIusvaIueper capitacannotbe ar-
bitrariIy Iarge. This can bedemonstrated using a simpIe exampIe (see
0aita/,3:356).!lweassumethat24worLersperlormtwohoursolsur-
pIusIaboreveryday,thenthetotamountolsurpIusIaboris48hours.
utilthenumberolworLersdecIinestotwo,thenthesetwoworLersare
notabIe toperlorm48 hoursolsurpIusIaborperday,regardIessolhow
Iarge the rate olsurpIusvaIueis.This concIusioncan be generaIized:u
thenumberolempIoyeesdechnesbeyondacertaincrincaImass,thenat
somepointtheamountolsurpIusvaIueproducedaIso decIines,regard-
IessolhowstrongtherateolsurpIusvaIueincreases.
FKOFT, AVEKAGE FKOFT I 53
MarxthoughthehadsumcientlyproventheawoFthetendencyoF
therateoF prohttoFalusingthisconsideration.utthatwasnotthecase.
decIiningmassoFsurpusvalue sonyindicatesaFaintherateoFproht
withcertaintywhenthetotacapitalccrequiredFortheproductionoF
thissurpusvaluehasnotasoFahen,buthasateastremainedconstant.
AdMarximplicityassumesthispreconditioninhiseampe.utthis
assumptionis notunprobematic.IF,to staywith ourexampe,instead
oF24workersonlytwoareempoyed,thentheamountoFwagespaidis
correspondingysmaer.IFthe value oFabor-powerremains constant,
variabecapitalwoudbereducedtoIjI2oF itspreviousvaue. utsince
therateoFsurpusvaueincreasesenormousy, thevalueoFabor-power
isalsodrasticalyreduced,andthetworemainingworkerswoudexpend
muchessthanIjI2oFthepreviousvariabecapital.Forthetotalcapita
toremainthesameitisnotsumcientFortheconstantcapitalctoincrease,
rather,itmustincreasebyacertainamount,namey,itmustincreaseby
the same amount that the variabe capit has beenreduced.Whether
ornotthisistheprohtFah cannotbeansweredatsuchagenereve:
wedon'tkowwhethertheproductivtyincreasehasbeenimpemented
withaotoraitteadditionconstantcapit.
IFconstantcapitaldoesnotincreasestrongyenoughtocmpensate
thereductionoFvariabecapita,thanthetotcapitaadvanceddecines.
Inthiscase,wehaveadecningmassoFsurpusvalueanddeciningcapi-
tal.WhethertherateoFprohtFasdependsuponwhatFahsquicker,the
massoFsurpusvalueortheadvancedcapita.IFthemassoFsuqusvaue
Fahsquickerthantheadvancedcapital,thentheprohtratedecines,iFthe
advancedcapitaldecinesquickerthanthesurpusvalue,thentherateoF
prohtincreasesdespitethereductioninthemassoFsurpusvaue.
IncontrasttoMac,wecannotassumeaawoFthetendencyoFthe
rateoFprohttoFah." Thisdoesn'tmeanthattherateoFproht can'tFaIl,
whichmayverywebethecase.However,therateoFprohtcansorise.
ong-astingtendencFortherateoFprohtto Facannotbesubstanti-
atedatthegeneraleveoFargumentationbyMacin0aita/.''
NowthequestioniswhetherMac'scritiqueoFpoiticaleconomyre-
alyosesanythingwithouttheawoFthetendency oFtherateoFproht
toFal."ManyMarxistsregardedthisaw"astheFoundationoFMarx's
l 54 AN lNTKODUCTON TO KAKL MAKX'5 AJ1A
crtsts thcory, whtch ts onc rcason why mc dcbatcs wcrc conductcd wm
such vchcmcncc. As wc w scc tn chaptcr 9,Marx's crtsts thcory docs
not rcqutrc thts "Iaw."
or Marx, thc Iaw cxprcsscd somcthtng morc gcncra!, namc!y
th8t thc C8QIt8Ist mOdc O QrOduCtIOn COmcs uQ 8_8Inst 8 b8rrIcr tO thc
dcVcOQmcnt O thc QrOduCtIVc OrCcs WhICh h8s nOthIn_ tO dO W1th thc
QrOduCtIOn O Wc8th 8s suCh but thIs Ch8r8CtcrIstIC b8rrIcr In 8Ct tcstI-
hcs tO thc rcstrICtIVcncss 8nd thc sOcy hIstOrICa 8nd tr8nsItOry Ch8r8C-
tcr O thc C8QIt8Ist mOdc O QrOduCtIOn. (0aita/,3.350)
vcn wtthout thts, thc !tmttattons ot thc capttaItst modc ot produc-
tton arc a!rcady manttcst tn mc tact that thc dcvc!opmcnt ot thc torccs
ot productton and thc productton ot wcaIth arc subordtnatc to thc vaI-
ortzatton ot vaIuc, and thts narrow goaI un!cashcs a g!ut ot dcstructtvc
torccs agatnst humantty and naturc. Whcthcr thc cxprcsston ot vaIuc tn
thc tcrms ot captta!tsts and accountants rtscs or taLs, tt docs not aItcr thc
mndamcnta!Iy b!tnkcrcd charactcr ot thc captt:st modc ot productton.
b. ntCtC8t LtCUit nU "iCtitiOU8 LQitl
. 1Intetest-|eating0aitaIntetest, andPto]to]Entettise
the0onsummationo]the0aita/Feh
Foras Iongas money has existed,ithas probabIy been Ientatinterest.
!nterest-bearingcapitaIexistedIongbeloretheentireeconomywasorga-
nizedonacapitstbasis,we6nditinthemostdiversesociaIlormations,
mthesIavehoIdingsocieties olantiquityasweIIasintheleudaIsociet-
ies olthe MiddIe Ages. !npre-bourgeois societies, Iings and princes
incurred debt as a means olhnancing theirIuxury consumpuon and
wars, outstanding debts and interest were denpaid bacLwith money
raisedthroughtaxesandconquest. utpeasantsandartisansexperienc-
ing6nancihardshipwouIdgointodebt,theyhadtopaybacLthedebt
byworLing,whichinIightoltheirpenuryandinterestratesol20 or30
percentormorewasoltennotpossibIe.AsaresuIt,theyIosttheirhomes
andlarmIands. Expropriationbyusurers"wasawidespreadphenom-
enon.LenderswereperceivedasbIoodsucLers,"andhatredlorusurers
wastheconsequence.
UndercapitaIistreIationsolproduction,thatis,whenproductionis
aIso organized capitaIisticahy,Iendingmoneyoccursunder compIeteIy
dierentconditions.OnthebasisolcapitaIistproduction,asumolmon-
I 5 0 AN !NTKODUCTlON TO KAKL MAKX'5 A1A
eycanbetransFonedintocapitaI,andonecanexpectthatthis capit
w yieId anaverageproht.Moneyis not, asitwasundersimpIecircu-
Iation,anindependentexpressionoFvaIue and thereFore exchangeabIe
witheveryothercommodity. Moneyisnowotentia/caita/
n thIs C8Q8CIty O QOtcnU8 C8QIta d8 mc8ns tO thc QrOduCuOn O QtOht It
bcCOmcs 8 COmmOdI[ Dut 8 COmmOdIty O 8 sQcCI8 kInd. Lr Wh8t COmcs
tO thc s8mc thIn_ C8QIt8 DcCOmcs 8 COmmOdIty. (0aita/,3:459~60)
ThesaIeoFthisuniquecommodityhasauniqueForm:moneyisIent.
WhatissoId"isitsabiIity(undercapitaIistconditions)toyeIdapro6t
withinaspecihc period oFtime.The price"paidForthisuniquecom-
modityisintetest.Thisinterestispaidhomtheprohtthatwasmadewith
theheIp oFthemoney.
Non-capitaIists-suchas wage Iaborers-aIsoborrowmoney,wheth-
erasaresuItoFhnanciaI dimcuItiesorinordertohnanceconsumption.
TheseIoansmustthenbepaidbackoutoFwages.Suchconsumercred-
its"arequitemeaningmIandaIsopIayanimportantroIeinthecourseoF
theaccumuIationprocess,sincetheycontributetothestabiIizationoFde-
mand.utwhatisnewincapitaIismisthataIargenumberoFIoansserve
theentichmento]thede|tots:theyborrowmoneytouseit0caita/.This
FormoFcredit,whichonIyexistedasanexceptioninpre-bourgeoissoci-
eties,isthetypicaIFormoFcreditForcapitistenterprises,anddominates
m otherForms.ThespeciaIForm oFcircuIauonoFmodernintetest-|eat-
ingcaita/is thereFore.
M-M--M~
M

Moderninterest-bearingcapitaI (and intheFoIIowingwereFeronIy

to this t_e,andwiII thereForeIeave out meadjectivemodern")isthus
adcancedtuice: oncebyits ownertotheindustriaIcapitaIist,andthenby
the industriaI capitmsttohnance aproht-yeIdingproductionprocess.
ThereFoIIows adou|/etetu:hrsttotheindustriaIcapitaIist,andthen
hom theindustriaIcapitaIisttotheIender.The return to the indusniaI
lNTEKE5T, CKEDT, AND "llCTTOU5 CAFlTAL" 1 O
C8QItM:8t COnt8In8 8 QIOb.t [In thC C88C Ol 8uCCC88m V8OI:z8tIOn| 8nd thC
ICtuIn tO thC CndCI COnt8In8 IntCIC8t Wh:Ch I8 Q8Id hOm thI8 QIOht.
hC l8Ct th8t IntCIC8t I8 Q8Id Out Ol QIOb.t dOC8 nOt yCt 88y 8nythIn_
8bOut thC I8tC Ol IntCIC8t. \ndCI "nOrm8 C8QItMI8t COndItIOn8 thC I8tC
Ol IntCIC8t WIl IC 8bOVC zCIO [OthCrWI8C thC CndCI Ol mOnCy WOud h8VC
nO IC88On tO Cnd It| but undCI thC 8VCI8_C I8tC Ol QIOht [OthCIwI8C thC
Indu8tIIM C8QIt8I8t WOud nOt dCm8nd 8ddItIOn8 C8QIt8|. hC I8tC Ol
:ntCIC8t 8t 8ny _IVCn tImC WIl dCQCnd uQOn thC CVC8 Ol 8uQQy 8nd dC-
m8nd 8 "n8tuI8 IntCIC8t I8tC OI 8 "n8tuI8 IC8tIOn8hIQ bCtwCCn thC
I8tC Ol IntCIC8t 8nd thC 8VCI8_C I8tC Ol QIOht dOC8 nOt CX:8t. ""
N8C IClCI8 tO thC C8QIt8I8t WhO Ow8 IntCIC8t-bC8rIn_ C8QItM 88
thC mone-caita/ut, WhCIC88 thC C8QItMI8t WhO bOIIOW8 thI8 C8QIt8
I8 thC ]nctioningcaita/ist,In WhO8C h8nd8 thC IntCIC8t-bC8IIn_ C8QI-
t8 bCCOmC8 ]tnctioningC8QIt8 WthIn thC ICQIOduCtIOn QIOCC88. 8Ch
mnCtIOnIn_ C8QIt8 yICd8 8 CCIt8In QIOht thC _IO88 QIOht thC 8mOunt
Ol WhICh C8n bC 8bOVC OI bCOW th8t Ol thC 8VCI8_C QIOht. 1ntCIC8t I8
Q8Id hOm thI8 _IO88 QIOht 8nd Wh8t ICm8:n8 I8 thC to]to]enteqtise
[ 0nteehmetgeuinn)ICCCIVCd by thC mnCtIOn:n_ C8QItMI8t.
hC dIVI8IOn Ol _IO88 QIOht IntO IntCIC8t 8nd QIOht Ol CntCIQI:8C I8
In:tI8y _u8t 8 quantitaticedIVI8IOn. OWCVCI thI8 Qu8ntIt8tIVC dIVI8IOn
COn8Oud8tC8 IntO 8 qua/itaticeOnC th8t CVCn C8QIt8I8t8 WhO dOnt bOIIOW
C8QItM InCudC In thCII dClIbCI8tIOn8.
hC mOnCy-C8QIt8lI8t I8 thC OWnCI Ol IntCIC8t-bC8IIn_ C8QIt8. C IC-
CCIVC8 IntCIC8t lOI QuttIn_ hI8 QIOQCIty 8t thC dI8QO88 Ol OthCI8. hu8
intetest8QQC8I8 tO bC mCICy thC hIt Ol thC ounetshi Ol C8QItM C8QIt8
th8t 8CCm8 tO CX:8t Out8IdC Ol thC QIOduCuOn QIOCC88. 1n COntI88t to]t
enteqtue8CCm8 tO bC thC IC8ut Ol C8QIt8 ]nctioningIn thC QIOduCuOn
QIOCC88. 1ntCIC8t 8nd QIOht Ol CntCrQII8C thCIClOIC 8QQC8I tO bC qua/ita-
ticedIhCICnt 8mOunt8 OII_n8tIn_ hOm dIhCICnt 8OuICC8. hI8 Iu8IOn I8
8tICn_thCnCd by thC l8Ct th8t thC I8tC Ol IntCIC8t dCVCOQ8 On thC m8IkCt 88
8 un1lOrm Qu8ntIty nOt dCQCndCnt uQOn InO:VIduM C8QIt8I8t8 WhCIC88 thC
I8tC Ol QrObt Ol 8n :ndIVIdu8 C8QItM [8nd thCIClOIC M8O th8t Ol thC IC8QCC-
uVC QIOht Ol CntCIQII8C 88 8 8urQu8 8bOVC thC I8tC Ol IntCIC8t| C8n dChn1tcy
bC 8hCCtCd by mC88uIC8 t8kCn by mnCuOmn_ C8QIt8t8 [ICduCIn_ CO8t8 Ol
thC mC8n8 Ol QIOduCuOn 8hOrtCmn_ mOVCI umC CtC. 8CC 8CCuOn 7.2).
! 58 AN NTKODUCTlON TO KAKL MAKX'5 AI1A
hc dIslInClIOn DclWccn InlcIcsl 8nd cnlIcgIcncuII8! gIOhl Is 8!s0
IccV8nl lOI lhc C8gIl8!isl WhO dOcs nOl usc DOIIOWcd C8gIl8!: hc h8s lhc
ChOICc OlcndIn_ hIs C8gIl8 8nd lhcIclOIc ODl8InIn_ mcIcy lhc InlcIcsl
OI 8!OWIn_ Il lO mnClIOn In lhc gIOduClIOn gIOCcss. tOWcVcI lhc Icsu!l
Ol lhIs mnClIOnIn_ 8ggc8Is lOI 8! Inlcnls 8nd guIgOscs 8s gIOhl Ol cnlcI-
gIIsc 8nd nOl 8s lhc lOl8! gIOhl sInCc hc WOu!d h8Vc ODl8Incd lhc InlcIcsl
8nyw8y. hc C8gIl8!Isl C!8ss 8s 8 WhOc Is nOl 8D!c lO ChOOsc lhc m8nncI
In WhICh Il uscs Ils C8gIl8WIlhOul mnClIOnIn_ C8gIl8!isls nO InlcIcsl 8I
8!! COu!d Dc g8IdDul lhc IndIVIdu8! C8gIl8Dsl dchnIlc!y h8s lhc ChOICc.
nlcIcsl Is 8n cxgIcssIOn Ol lhc V8!OIIZ8lIOn Ol C8gIl8 lhc cxg!OIl8-
lIOn Ol!8DOI-gOWcI Dul C8gIl8! sl8nds In 8nl8_OnIsm lO W8_c-8DOI Omy
WIlhIn lhc cxg!OIl8lIOn gIOCcss. n lhc C8sc Ol InlcIcsl-Dc8IIn_ C8gIlm
lhIs 8nl8_Onism Is nO !On_cI VsiD!c DcC8usc C8gIl8! Is InlcIcsl-Dc8IIn_ 8s
gIOgcIly OulsIdc Ol lhc gIOduClIOn gIOCcss. hc mOncy-C8gIl8Isl dOcs
nOl COnhOnl lhc W8_c-!8DOIcI Dul COnhOnls lhc mClIOmn_ C8gIl8Dsl
WhO DOIIOWs C8gIl8!. nlcIcsl cxgIcsscs C8gIl8!s C8g8CIly lOI 8ggIOgII8l-
In_ lhc gIOduCl Ol cxlcIn8! 8DOI Dul Il cxgIcsscs lhIs C8g8CIly 8s 8 Ch8I-
8ClcIIslIC Ol C8gIl8! lh8l InhcIcs lO Il OulsIdc Ol lhc gIOduClIOn gIOCcss
8nd Indcgcndcnl Ol lhc dclcImIn8lc C8gIl8!Isl lOIm Ol gIOduClIOn.
ul lhc mnClIOnIn_ C8gIl8!isl 8!sO sccms nOl lO sl8nd In 8n 8nl8_OnIs-
lIC Ic8lIOnshIg lO lhc W8_c-!8DOIcI. hc gIOhl Ol cnlcIgIIsc _8Incd Dy lhc
mnClIOnIn_ C8gIl8Dsl 8ggc8Is lO Dc Indcgcndcnl Ol C8gIl8!-gIOgcIly [lhIs
Is 8!Ic8dy g8Id lhIOu_h InlcIcsl| 8nd Is Ic_8Idcd 8s lhc Icsu!l Ol mnC-
lIOnIn_ WIlhIn lhc gIOduClIOn gIOCcss 8 gIOduCuOn gIOCcss lh8l sccms
nOl lO cxhIDIl 8ny C8gIl8!Isl dclcImIn8lIOns Dul 8ggc8Is 8s 8 mcIc !8DOI
gIOCcss. CCOIdIn_ lO lhis gcICcglIOn lhc mnClIOnIn_ C8gIl8Isl ODl8Ins
lhc gIOhl Ol cnlcIgIIsc nOl 8s 8n OWncI Dul I8lhcI 8s 8 g8IlICu!8I lygc
Ol uotketaWOIkcI IcsgOnsID!c lOI lhc sugcIVIsIOn 8nd 8dmInIslI8lIOn
Ol lhc 8DOI gIOCcss. hc WOIk Ol cxgOIl8lIOn 8nd CgOIlcd !8DOI DOIh
COunl 8s 8DOI. A8 Icsul:
hc sOCI8 lOrm Ol C8QIt8 dcVOVcs On Intcrcst but cxQrcsscd In 8 ncutrm
and IndIbcrcnt Orm; thc cCOnOmIC mnCtIOn O C8QIta dcVOVcs On QrOht
Ol cntcrQrIsc but WIth thc sQcCIhCmy C8Qt8Ist Ch8r8Ctcr Ol ths mnCtIOn
rcmOVcd. (0aita/,3 .506)
NTEKE5T, CKEDT, AND "lICTITIOU5 CAFTAL" I 59
Whatispecuiartointerest-bearing capitaisnotinterestthis is
mereyaparticuarexpression oFthevaorizationoFcapitabutthe
seemingy unmediated Form oFthis vaorization as expressed in the
equationMM':moneyappears tomutipyabyitseF. Marxthere-
Fore reFerred to interest-bearing capitm as the most superhcia and
Fetishized Form" [0aita/, 3: 5 I5)oFthe reations oFcapita [For how
thecapitaFetishemerges6omthecapitaistprocessoFproduction,see
section5.3),because
thc sOCI8 rc8tIOn s COnsumm8tcd n thc rc8tIOn O 8 thIn_ mOncy tO
Itsc. g . . . ] hus It DcCOmcs 8s COmQctcy thc QrOQcrty O mOncy tO
Crc8tc V8uc tO yIcd Intcrcst 8s It Is thc QrOQcrty O Qc8r-trccs tO bc8r
Qc8rs. (0aita/,3.5I6)
AccompanyingthismostFetish-ikeForm"oFthecapitareationhis-
toricayisaseriesoFtruncatedcritiquesoFcapitmismthataIamountto
crincizingnotthecapitareationitseF, butmereytheexistenceoFin-
terest,thusdisregardingtheconnectionbetweeninterestandthecapita
reation.ThecoectionoFinterestwas,onthe onehand,contrastedto
productive"capitaandcriticizedonmoragroundsasaFormoFincome
datisnotbaseduponone'sowneort.Ontheotherhand,theexistence
oFinterestwasdecaredtobetherootoFaevinsociety:moFsocietyis
ensavedinordertounmateypayinteresttotheownersoFmoney[see
connecnontoanti-Semitism,sectionI0.2).
8.20teditNone,Bank,andFictitiou0aita/"
Intheprevioussection,weexaminedtheForm-determinationexhibited
byinterest-bearingcapitmas disnncthomindustriaIcapitm,asweas
theinvertedperceptionsarisinghomit. Nowwemustconcenourseves
withthehistoricmychanginginsntutionsthatmediatethemovementoF
interest-bearingcapimI:thebanksandcapitmmarkets."'
BankmebroLrsoFcreditmsacnons.Ontheonehand,theyreceive
deposits6omowersoFmoney, and,ondeother,deyend money.The
\00 AN lNTKODUCTlON TO KAKL MAKX'5 AI1AL
depositrateoF mterestpaidbybanksissmalIerthantheinterestratecharged
bybankswhen theymakeloans.Thebank'sincomecomeshomthe diF-
Ference.Wiateverremainsaerdeducdngthecostsisthebankingproht. '"
But banks are notustpassive intermediaries that transportmoney
homonehandtoanother.BanksaIsocreate"money:cteditmone.
Creditmoneyis atomise toa thatitselFperForms mnctions oF
money. Credit money already comes into being when person A bor-
rows 00euroshompersonBandsignsapromissorynotethatremains
withB[iFthenotehasamed,relativeIyshort-termdateoFpayment,one
speaks oFa |i//o]exchange).This promissorynote isapromise topay
homA. !FBnowpurchasesacommodityhompersonCandCaccepts
thispromissopnoteasameansoFpayment,thenAspromisetopayhas
mnctionedasmoney.AlongsidetheorignaII00eurosincash [the real
money"withwhichAcanmakepurchases),anadditionaI I 00 euros oF
cteditmone[withwhichBmakesapurchase)isalsoincircuIation. This
creditmoneyemerges hom nothing"wth the granting oFa Ioan and
vanishesagainintonothing"wththeredemptionoFthepromisetopay.
Thepromissorynoteiswpedout.
Asarule,itisnotonIypromisestopaybyprivate individuaIs that
are circuIated,but aIso those oFbanks orinstitutions similar tobanks,
hkecreditcardcompanies.!F!payForapurchasewithacheckorcredit
card,thentheseIIerdoesnotreceiveactuaImoneyhomme,butrathera
promisetopay-namely, theFormalguaranteethatheorshewreceive
moneyhomthebankorcreditcardissueruponpresentationoFthecheck
orsalesdraFt,respectiveIy.However,!amnottheonewhoguaranteesthis
promise,thebankdoes'
Creditmoneyresultshomeverydepositatabam.iF!deposit I
euroscashintomybankaccount,thenthebankhas I00eurosinitsre-
senes[andcanIendit,Forexample,tomakealoan),atthesametimemy
accountbalance,whichImaydisposeoFviacheckorbanktransFer,in-
creasesby00euros.Thus,inaddinontothe I00eurosthatwasmoved
hommypocketintothebank'sreserves,I 00eurosoFcreditmoneyhave
accruedtomybankaccount.
NowiFtheseJerthat!havepaidbycheckusesthechecktocredithis
account,thecreditmoneywasmerelytransFerredhommyaccounttohis
lNTEKE5T, CKEDlT, AND "FlCTlTlOU5 CAllTAL" I 0 I
d C8n COntInuC tO mnCtIOn 88 CICdIt mOnCy. Lny Il thC 8CCI C88hC8
thC ChCCk [th8t I8 tO 88y ICQuC8t8 C88h hOm thC b8nk8 IC8CrC8| I8 CICdIt
mOnCy CImIn8tCd. 1n 8Ctu8 l8Ct thC b8nk [b8IIIn_ C_M IC_u8tIOn8| Ony
h88 tO kCCQ On h8nd 8 8m8 h8CuOn Ol thC I 00CuIO8 dCQO8ItCd In thC
lOD Ol C88h IC8CDC8 [CnOu_h tO 88u8 8VCI8_C dCm8nd| 8nd thC IC8t
C8n bC u8Cd. ut 8InCC mO8t Q8ymCnt8 8IC C88hC88 Q8ymCnt8 bCtWCCn
b8nk 8CCOunt8 [8nd 8InCC mO8t O8n8 8IC nOt m8dC In C88h but 88 CICdIt
mOnCy| thC 8mOunt Ol mOnCy thC b8nk h88 tO kCCQ On-h8nd I8 8 8m8
h8CtIOn Ol thC CICdIt mOnCy It CIC8tC8.
1n OIdCI tO m8kC O8n8 b8nk8 8IC nOt 8OCy dCQCndCnt uQOn dCQO8-
It8. hCy C8n 88O bOIIOW mOnCy hOm 8t8tC CCntI8 b8nk8. hC CCntI8
b8nk8 8IC thC Ony In8tItutIOn8 8OWCd tO QIInt mOnCy. 1n 8n CCOnOmy
nO On_CI tICd tO 8 mOnCy COmmOdIty CCntI8 b8nk8 "CIC8tC IC8 mOnCy
["ICM 88 OQQO8Cd tO CICdIt mOnCy WhICh I8 Omy 8 QIOmI8C tO Q8y mOn-
Cy|. hC CCntI8 b8nk I8 nOt bOund by 8ny lOIm8 ImIt8 COnCCOIn_ thI8
mOnCy CIC8tIOn.
P8 On_ 88 thC mOnCy 8y8tCm W88 8tI tICd tO 8 mOnCy COmmOd-
Ity [lOI CX8mQC _Od| b8nknOtC8 WCIC nOt IC8 mOnCy Ony 8t8nd-In8
8nd thC I88uIn_ Ol tIC88uIy nOtC8 by CCntI8 b8nk8 W88 8tI IC8tIICtCd
by IC_u8tIOn8. hC I88uIn_ Ol mOnCy h8d tO bC COVCICd tO 8 CCIt8In
8mOunt by thC _Od IC8CIvC8 Ol thC CCntI8 b8nk. 1l 8 dCm8nd W88 m8dC
tO COnVCIt nOtC8 IntO _Od _Od IC8CDC8 dCCIC88Cd 8nd thC CCntI8 b8nk
COud Ony I88uC 8 8m8CI numbCI Ol nOtC8. ICCI8Cy In CII8I8 8Itu8-
uOn8 thCIC W88 8 Iun On _Od 8t thC 88mC umC thC nCCd lOI CICdIt _ICW
8O th8t thC b8nk8 ICQuIICd mOIC b8nknOtC8. hC Iun On _Od m8dC 8n
InCIC88C In thC I88uC Olb8nknOtC8 ImQO88IbC WIthOut 8u8QCndIn_ IC_u-
8tIOn8. hC mOnCy COmmOdIty QIOVCd tO bC 8n 8VOId8bC ImQCdImCnt
0 C8QIt8I8t ICQIOduCtIOn. OInCC thC mOnCt8Iy 8y8tCm tOd8y I8 nO On-
_CI tICd tO 8 mOnCy COmmOdIty [8CC thC COnCu8IOn Ol 8CCtIOn 3.7),thI8
ImQCdImCnt nO On_CI CXI8t8. YIthOut 8 mOnCy COmmOdIty thC b8nk-
In_ 8y8tCm C8n IC8Ct mOIC CXIby th8n bClOIC duIIn_ CII8C8hOWCVCI
I8 dOC8 nOt mC8n th8t CII8C8 thCm8CVC8 C8n bC 8VOIdCd [8CC Ch8QtCI
9IC_8IdIn_ thI8 QOInt|.
LOntI8Iy tO thC QO8ItIOn Ol N8IX th8t thC CXI8tCnCC Ol 8 mOnCy COm-
mOdIty I8 un8VOId8bC In C8QItMI8m It I8 CC8I th8t 8 mOnCt8Iy 8y8tCm tICd
I 02 AN lNTKODUCTlON TO KAKL MAKX'5 AI1A
tO 8 mOnCy COmmOdIty I8 In nO W8y 8 QIOQCIty Ol C8QItMI8m 8t It8 "IdC8
8VCI8_C [lOI mOIC On thI8 QOInt 8CC CInIICh I 999,302).
Ln thC caita/market,bOIrOWCr8 8nd CndCI8 Ol mOnCy CntCI IntO 8
dIICCt CICdIt IC8tIOn8hIQ WIth OnC 8nOthCI. OIIOWCI8 8bOVC 8 8I_C Cn-
tCIQII8C8 8nd 8t8tC8 _Ct mOnCy dIICCty hOm mOnCy OWnCI8 8nd QIOmI8C
In ICtuD tO Q8y 8 hXCd 8nnu8 IntCIC8t 88 WC 88 thC QIInCIQC 8t 8 mCd
d8tC. n ICtuD lOI m8kIn_ thC O8n CndCI8 ICCCIVC 8 seotigOI |ondm
WhICh COndItIOn8 8IC 8tIQu8tCd [bCC8u8C Ol thC hCd IntCIC8t I8tC OnC
8QC8k8 Ol 8 ed-intettsecurit).OInCC thC O8n COmC8 Oh WIthOut thC
8Id Ol 8ny b8nk' CndCI8 8nd bOIIOWCI8 C8n 8h8IC 8mOn_ thCm8CVC8 thC
dIhCICnCC bCtWCCn thC I8tC Ol IntCIC8t On b8nk dCQO8It8 8nd thC IntCIC8t
I8tC lOI O8n8 OhCICd by thC b8nk: thC IntCIC8t I8tC On 8CCuIItIC8 I8 nOIm8-
y OWCI th8n thC IntCIC8t I8tC lOI O8n8 OhCICd by b8nk8 8nd hI_hCI th8n
thC I8tC Ol IntCIC8t On b8nk dCQO8It8. OWCVCI thC CndCI nOW 8hOudCI8
thC buIdCn Ol II8k CntIICy: Il thC CntCIQII8C tO WhICh hC h88 Cnt mOnCy
_OC8 b8nKIuQt hC O8C8 hI8 mOnCy. OI th8t IC88On u8uMy Ony 8I_C C*
tCIQII8C8 888umCd tO ICm8In 8OVCnt 8IC In 8 QO8ItIOn tO I88uC bOnd8. Ln
thC OthCI h8nd Il 8n CntCIQII8C OI IndIVIdu8 bOIIOWIn_ lIOm 8 b8nk _OC8
b8muQt thI8 ICduCC8 thC b8nk'8 QIOht8 but dOC8 nOt 8hCCt dCQO8It8 88
On_ 88 thC b8nk It8Cl dOC8 nOt _O b8nkIuQt.
OCCuIItIC8 8IC nOt thC Ony mC8n8 thIOu_h WhICh bu8InC88 C8n Ob-
t8In mOnCy On thC C8QIt8 m8IkCt8. hCy C8n 88O dO 8O by I88uIn_ stocs.
hIOu_h thC QuICh88C Ol 8 8tOCk OnC 8CQuIIC8 8 8h8IC Ol thC IC8QCCuVC
CntCIQII8C bCCOmIn_ 8 CO-OWnCI. OImI8I tO hCd-IntCIC8t 8CCuIIuC8 thC
8tOCk COn8tItutC8 8 c/aim: thC OWnCI Ol thC 8tOCk I8 CntItCd tO VOtC 8t
8h8IChOdCI8' mCCtIn_8 8nd tO 8 8ICC Ol thC dI8tIIbutCd C8DIn_8 [C8Cd
dicidend),bOth QIOQOItIOn8 tO thC IndIVIdu8'8 QCICCnt8_C Ol thC Cn-
tIICty Ol 8h8IC8. OWCVCI thCIC I8 nO CntItCmCnt tO thC ICQ8ymCnt Ol thC
QIICC Ol thC 8tOCk by thC CntCIQII8C 8nd thC CVC Ol dI8tIIbutCd _mn8 I8
88O nOt hCd but dCQCnd8 uQOn thC COuI8C Ol bu8InC88.
:XCd-IntCIC8t 8CCuIItIC8 8nd 8tOCk8 C8n bC 8Od On thC C8QIt8 m8IkCt.
hCy h8VC 8 tce,thCII IC8QCCtIVC matkettice OI shaterice [OnC L
IC8d thC QICVIOu8 d8y'8 8tOCk CXCh8n_C QuOt8tIOn8 In thC bu8InC88 Q8_C8 Ol
m8_OI nCW8Q8QCI8|. OWCVCI thC8C Q8QCI8 h8VC nO V8uC but COn8tItutC
mCIC cmimsOn V8uC [IntCIC8t 8nd dIVIdCnd8|. Yh8t 8IC tI8dCd 8IC Cmm8:
lNTEKE5T, CKEDT, AND F!CTTl OU5 CAlTAL" I 03
mct thc 88c thc cnlcQtI8c nO On_ct Q8y8 Inlctc8t Ot dIVIdcnd8 lO ct8On
A,bul tO ct8On . 1n cVctyd8y Ilc 88 Wc 88 In lhc dOmIn8nl cCOnOmIC
cOtIc8 nO dI8tInCtIOn I8 m8dc bclWccn QtICc 8nd V8uc: thc m8tXcl QtICc
Ol lhc 8tOCX Ot hcd-Inlctc8l 8cCutIty COunl8 88 It8 ''V8uc.
hc 8mOunt thc OWnct Ol 8 ]xed-intetest8cCutIty Obt8In8 lOt It8 88c
[lhc m8tkct V8uc| dcQcnd8 uQOn lhc CuIIcnl m8tkt Inlctc8l t8lc. Lcl8
888umc lh8t AbOu_hl 8 8cCutIly hOm bu8Inc88 Y In lhc 88l yc8t 8nd Q8Id
I,000cutO8 lOt lhc tI_hl lO bc Q8Id 50cutO8 8nnu8y lOt tcn yc8t8 8nd
lhc OtI_In8 QtInCIQc Ol I,000 cutO8 8l thc cnd Ol thI8 lcn-yc8t QctIOd.
ct8On Ah88 lhu8 QutCh88cd 8 bOnd WIth thc nOmIn8 V8uc Ol ,
cutO8 8nd 8n Intctc8t t8tc Ol 5QctCcnl [tc8lIVc tO thc QIInCIQc|. ^OW
cl8 mtlhct 888umc lh8l In thc ncxt yc8t Inlctc8l t8lc8 CImb lO 7QctCcnt.
h8t mc8n8 th8t lOt 8ny ncW bOnd CO8tIn_ JcutO8 lhc 8nnu8 Inlct-
c8t Q8ymcnt I8 70cutO8. 1l AnOW W8nl8 tO 8c hI8 bOnd hc WOnl hnd
8nyOnc WhO wQ8y hIm I,000cutO8 lOt Il 8InCc thc Intctc8l Q8ymcnl I8
Bxcd 8t 50cutO8. ct8On Aw Ony bc 8bc tO 8c thc bOnd Il hc 8cltc8
lOt 8n 8mOunt c88 U8n cuIO8 lhc m8tXcl V8uc Ol lhc bOnd l88
bcOW lhc nOmIn8 V8uc Whcn Intctc8l t8lc8 tI8c. 1n thc C88c Ol l8In_
Intctc8t t8tc8 thc m8tXcl V8uc WOud tI8c MOVc thc nOmIn8 V8uc.
LIkWI8c In thc C88c Ol lhc 88c Ol stocks:hctc thc 8h8tc QIICc8 8tc COn-
8l8nty Ch8n_n_. ul lhcIt mOVcmcnt I8 nOt dcCIdcd 8Ocy by lhc Cuttcnt
OIVIdcnd8 bul 88O by lhc ]tuteto]ts Ol lhc bu8Inc88. 1IVIdcnd8 Q8y
Ony 8 8cCOnd8Iy tOc 8InCc Ony 8 lIny QOtlIOn Ol thc QtOhl I8 dOcd Oul
lO 8h8tchOdct8 In thc lOIm Ol dIVIdcnd8thc _tc8tct QOtlIOn I8 InVc8l-
cd. mOWcVct lhc mtutc QtOht I8 ncVct 8 Cctl8Inly but t8lhct 8n exected
quantig.1l lhc exectationsOl QtOhl8 InCtc88c thcn lhc 8h8tc QtICc8 88O
InCtc88c Il cxQcCl8lIOn8 dcCbnc Ot Il lhctc I8 _tc8l unCctl8Inly COnCctn-
In_ thcm thcn thc 8h8tc QIICc8 dcCInc. 1n thI8 tc8QcCt lhc COut8c Ol thc
8h8tc QtICc dOc8 nOl cxQtc88 COnlcmQOt8ty dcVcOQmcnl8 bul t8lhct ex-
ectationsconceing]tutedece/qments.
hc CItCu8lIOn Ol 8cCuIIuc8 8nd 8tOCX8 COn8tItulc8 8n 8Ct Ol duQIC8-
uOn 8ImI8t lO CtcdIl mOncy. 1n lhc C88c Ol CtcdIt mOncy Q8ymcnt QtOm-
I8c8 CItCu8tc 8On_8Idc tc8 mOncy Whctc88 In lhc C88c Ol 8lOCX8 8nd
bOnd8 Wc 8tc dc8In_ On thc Onc h8nd WIth tea/caita/OWIn_ hOm
mVc8tOt8 lO 8 bu8Inc88 8nd u8cd by thc 8llct 8nd On lhc Othct h8nd 8
I 04 AN !NTKODUCTlON TO KAKL MAKX'5 AI1A
c/aim On Inlctc8lOtlhc Qymcnl OldIVIdcnd8 lhl I8 ltdcd nd CItCu-
lcd l uClulIn_mtkclQtICc8.
uc lO lhcIt 8QcCIhC "Vuc dclctm:nlIOn [mcnIn_ lhc dclctm-
nlIOn Olmtkcl V8uc Oul:ncd 8DOVc| %O tclct8 lO lhc8c CItCul-
In_ Cmm8 8cCutIlIc8 nd 8lOCk8 8ctitiou caita/. hI8 lctm dOc8
nOl mcn lhl lhc8c Cmm8 CnnOlDc tcdccmcd. lhct Il tclct8 lO lhc
lCl lhl lhc tc8 CQIlM lhc OWnct OtI_Iny QO88c88cd In lhc lOtm Ol
mOncyh8 DccndVnCcd Ony OnCcdut:n_ lhcQutCh8c Ol8lOCk8 8nd
DOnd8.lct lhl Il I8 QO88c88cd Dy lhc Du8Inc88 nd I8 dVnCcd Dy Il.
bcCutIlIc88lOCk8ndDOnd8 tcQtc8cnlmctcCIm8 lOCctlInQymcnl8
lhcIt "VMuc [lhc mtXcl Qt:Cc| h8 nOlhIn_ lO dO WIlh lhc mOunl Ol
VMuc OtI_nMyQIdlOt lhc8c C:D8 [nOWlhI8 mOunl OlVuc cx:8l8:n
lhc lOtm Ol lOt cxmQc QtOduClIVc CQIl8 WIlhIn n cnlctQt:8c OtIn
lhc C8c Ol_OVctnmcnlDOnd8h8Dccn8QcnlDy lhc 8llc|.hc "VMuc
Ol8uCh CIm8 I8 n t:lhmclIC VucWhICh Inlhc C8c Olhxcd-Inlctc8l
8cCuDlIc8tc8l8 uQOn lhc tclIOnDclWccnlhcInlctc8ltlcOllhc8cCutIly
md lhc Cuttcnl mtkcl tlc OlInlctc8lnd WhICh In lhc C8c Ol8lOCX8
tc8l8uQOnQtOhlcxQcCllIOn8.' hccxlcnllO WhICh lm8 "V8ucI8 COn-
8lnlndcd8lO COttc8QOndIn_QyOul8InlhcOn_ lctmdcQcnd8uQOn
lhcCluQtOhl8 Ollhctc8QcClIVc cnlctQtI8c.
bInCcQtOhlcxQcCllIOn8CnCh8n_cQuICkylhcCOut8cOl8lOCk8Cn
M8O Chn_c QuICXy 1Otlhltc8OndutIn_ 8In_c ltdIn_dy Dm :On8
OlcutO8InmtkclVuc [dlI8DIOn8InhCl:lIOu8CQIl|tcdc8ltOycd
On lhc mtkclInlhcC8cOltQIdydcC:n:D_8htc Qt:Cc8ndDIIOn8Ol
cutO8 In mtkcl V8uc tc CtclcdIn lhc C8c Ol8ltOn_yInCtc8In_8htc
QtICc8. hc8c mOunl8 tc nOl tc8crvc8 lhl Cn Dc dc8ltOycd Ot ncWy
Ctclcd Dd hyQOlhclICy InVc8lcd lOt Olhct QutQO8c8 Dul tlhct tc
tIlhmcuCVulIOn8 OlCOmmctCIQQct8.mOWcVctlhc8chuClul:On8
tc 88O nOl :D8I_n:hCnl OCCuttcnCc8. 1l8htc8 nd DOnd8 tc u8cd8
COlctM lOtOn8lhcnlhcCOlctI8dcVucdInlhc C8c OldcC:Dn_
mtkcl QtICc8. hc DOttOWct lhcn h8 lO Ohct mtlhct COlct Ot Qy
DCk lhc On Il hc C8Dl dO lhl hc _Oc8 DnktuQl. 1l lhc Dnk cxQcH-
cnCc8 lOO mny 8uCh dclul8IlI8 M8O lhtclcncdWIlhD8DktuQlCy
xQcCllIOn8hVclcndcnCylOtcInlOtCclhcm8cVc8OVctQctIOdOl
umc: Il8htcQtICc8 tI8cmnyQcOQcWnllOhOQ OnlhcDndW_Onlhc
NTEKE5T, CKEDT, AND "FCTTOU5 CAFTAL" I 05
demandincreases,sharepricesrisemrther,andevenmoremoneyown-
erswanttojumponthebandwagon,iFsharepricesF ,thenmanypeope
wanttogetridoFtheirstocks,thesuppyincreases,sharepricesmrther
decine,etc. StrongoscdationsinperFormanceare the consequence: a
bumarket [strongyrisingshareprices) is Foowed by abearmarket
[FaIingprices).
.J 7he0reditSstemasaRegu/atingInstance
o]the0aita/istEconom
We cansumthingsupbyreFerringtoba andcapitmmarkets as the
redit sstem. The movement oF interest-bearing capitm mediated by
thiscreditsystemisnotamereaddition,asuperstructure"restingatop
industrim capita.Athough,asw bemade cearshorHy, interest-bear-
ingcapitaemanates6omdecircuationoFindustriacapita,themove-
mentoFindustrimcapitmisnotatmpossibewithoutcredit.
Inchapter3we emphasizedthatMao'svaIuetheoryisamonetary
theoryoFvmue: thecommodityandvauecannotexistanda

ocannot
be conceptuaizedwithout reFerence to money. The same canbe said
conceningthereauonsbipbetweencapitaandcredit. However,within
uaditionaMarxism,anon-monetarytheoryoFvaIuewasdominant,as
wasaconceptionoFcreditthatreducedittoamereappendagethatwas
umecessaryFortheexistenceoFcapitaI,andunnecessaryForanunder-
standingoFcapitm.
InthecircuauonoFindustriacapitmthereemergesanarrayoF6:nds
datconsistoFtemporariyide"capitm: asaresutoFthe saeoFcom-
modities,advancedcapitmreturnsthatcannotbeimmediateyempoyed
ascapitaI.Mostimportantareaccumu/ation ]nd[surpusvaIuetobein-
vested,butonyataatertime,becauseForexampeamuamountis
requiredForinvestment)andsinking]tnds[inwhichthevaueeements
oF6ed capitm are coected, see section 6.2).Unti they are invested,
suchmndscanbeusedasinterest-bearingcapitaI.
InsteadoF waiungFordese6:ndstom up,aportionoFaccumuIation
3 weas the renewaoF6ed capitaI canbe6nancedthroughcredit,
! 06 AN lNTKODUCTlON TO KAKL MAKX'5 AI1A
8O lh8l lhc cn8uIn_ tcluH8 dO nOl OW InlO 8n 8CCumu8tIOn Ot 8Inkng
mnd bul lOW8td thc Q8ymcnl Ol Inlctc8l 8nd QtInCIQc On lhc O8n.
\lIm8lcy lhc CItCu8lIOn Ol 8utQu8 V8uc [lh8l Q8tl Ol lhc lOl8 80-
CI8 QtOduCl WIth 8 V8uc CODc8QOndIn_ lO thc lOl8 8OCI8 8utQu8 V8uc]
I8 nOl QO88:bc WIthOul cIlhct thc cXI8lcnCc Ol tc8cCc8 Ot lhc I88uIn_ 0
O8n8: dI8tc_8tdIn_ hcd C8QIl8 thc C8QIl8:8l8 Ol 8 8In_c COuntty 8d-
V8nCc C8QIl8 WIlh 8 VMuc ccIn lhc COut8c Ol 8 yc8t bul QtOduCc Qt0d-
uCl8 WIlh 8 VMuc Ol ccW. hc guc8tIOn I8 thu8 QO8cd 88 lO Whctc thc
mOncy lO Q8y lOt thc QtOduCl8 COmQtI8In_ lhc VMuc Ol W 8hOud C0mc
hOm. Lnc QO88IbIIty COn8I8l8 In 8 Q8tl Ol lhc C8QIl8I8l8 QO88c88In_ 8
tc8cCc mnd In 8ddItIOn lO lhc C8QIlM 8dV8nCcd lOt QtOduClIOn. hcy
COud lhcn QutCh88c 8 QOtlIOn Ol W 8nd thc C8QIl8:8l8 lh8l h8Vc 8Od
lhI8 QOtlIOn C8n In luH u8c lhI8 mOncy lO QutCh88c COmmOdItIc8 hm
mc ht8l _tOuQ Ol C8QIl8:8l8 8O lh8l 8l lhc cnd Ol lhc QtOCc88 m Ol dc
QtOduCl8 h8Vc bccn 8Od 8nd lhc tc8ctVc8 tcluH lO lhcIt OtI_In8 Ow-
ct8. tOWcVct 8 tc8cCc mnd cxI8lIn_ Omy lO l8CIIl8lc CItCu8lIOn ImQ:c8
lOt_OIn_ lhc Ch8nCc lO V8OtIZc lhI8 8um. l C8QIl8I8l8 lOOW lhc m8XIm
Ol lhc _tc8lc8l QO88Ibc V8OtIZ8lIOn Ol C8QIl8 lhcn thcy wnOl QO88c88
8uCh 8 tc8ctVc bul w In8lc8d hn8nCc lhc COttc8QOndIn_ QutCh88c8 by
mc8n8 Ol 8hOtl-lctm O8n8.
l I8 thu8 thc CItCu8lIOn Ol C8QIlM lh8l _cnct8lc8 lcmQOt8tIy Idc C8QI-
l8 On lhc Onc h8nd 8nd lhc dcm8nd lOt CtcdIl On thc Olhct h8nd. hc
VOumc Ol CtcdIl InCtc88c8 WIth lhc _tOWth Ol lOt8 8OCI8 C8QIl8. hc
mctc _tOWlh Ol CtcdIl tt8n88CtIOn8 I8 Il8cl nOl 8 8I_n Ol C8QIl8:8l CtII
Ot In8l8bII.
AdcVcOQcd CtcdIl 8y8lcm m8Kc8 Il QO88Ibc lOt 8n indicidua/caita/
lO lOt_O lhc 8CCumu8lIOn Ol tc8cCc8 8nd cnd Oul Idc C8QIl8. ul by
l8KIn_ Oul 8 O8n 8n IndIVIduM C8QIlM h88 lhc QO88IbIIty lO 8CCumu8lc
l8t mOtc lh8n mctcy lhc QtOhl8 Ol lhc QtcVIOu8 QctIOd. hu8 lOt 8 C8QI-
l8I8l cnlctQtI8c 8 Cctl8:n 8mOunl Ol dcbl I8 In nO W8y "unhc8lhy Ot 8
8I_n Ol Wc8Knc88. n QtcC8QIl8I8l 8OCIclIc8 QtOduCct8 u8u8y Wcnl Int0
dcbl Ony 88 8 tc8ul Ol cmct_cnCIc8 8nd mOtc Ollcn h8d QtObcm8 Q8y:n_
lhc Inlctc8l On O8n8. \ndct C8QItMI8l tc8lIOn8 CtcdIl 8ctc8 Qt:m8tIy l0
hn8nCc 8ddItIOn8 8CCumu8lIOn: CtcdIl 8hOud t8I8c lhc t8lc Ol QtOhl 88
mc88utcd by lhc cguIty Ol 8 8In_c C8QIl8. Lcl u8 888umc lhc 8Vct8_c t8lc
NTEKE5T, CKEDT, AND "IlCTTOU5 CAPlTAL" I 07
OlQtOhtI88QctCcnt8nd thc m8tkctt8tcOl Intctc8ttObc5QctCcnt.1l 8
08QIt81I8tInVc8t8 8mIlIOn cutO8hc C8nOnycxQcCt 8QtOht Ol80,000
cutO8.1lhcbODOW8 8mtthctmIIOn 8ndthI8 8cCOndmIIOn 88OyIcd8
thc8Vct8_cQtOhtdcnOutC8QImI8tObt8In88n 8ddItIOn880,000cutO8
BOmWhICh hch88tO Q8y b8Ck 50,000cutO8 88 Intctc8t tOthccndct Ol
lhc 8cCOnd mIIOn. mI8 tOt8QtOht8mOunt8 tO 80,000Qu8 30,000,Ot
II0,000cutO8: hI8 OWn C8QIt8 [thc ht8t mIIOn| h88 btOu_htIn 88 8
tc8ut OlthcO8nnOt_u8tthc8Vct8_cQtOhtOl8QctCcntbut I I QctCcnt.
hI8 InCtc88c In thc t8tc OlQtOht I8 thc QtIm8ty mOUVc lOt t8kIn_ Out
O8n8. 1lcxQcCt8UOn8 8tc nOt h1hcdWhcthct bcC8u8c 8n IndIVIdu8
Vcntutcl8OtWh:c thc _cnct8 cCOnOmIC 8Itu8tIOn dctctIOt8tc8thcn
Itm8yCOmc tO Q888 th8t thc 8Ctu8 t8tc OlQtOht Obt8Incd lIc8 bcOW lhc
OmCI8t8tc OlIntctc8t.1nthI8 C88c thcbOttOWcdC8QIt8h88 nOtyIcdcd
8ddItIOn8QtOhtbut8O88 [thcdIctcnCcbctWccnIntctc8t8ndQtOht|.
utthct thc cxI8tcnCc OlCtcdIt 88O h88 ccCt8 uQOn thc tota/socia/
caita/.hc mOVcmcnt OlC8QIt8bctWccnbt8nChc8thtOu_hWhICh thc
cQu8IZ8tIOnOlQtOhtt8tc8OCCut8 [8cc8cCtIOn7.2),c88cntI8yCOn8I8t8Ol
8Ch8n_c OlCtcdItOW88Oth8tIn Oncbt8nCh8OtI88CCumu8tcdWhIc
mOthct8 c88 I8 8CCumu8tcd thc 8hIltOl8tc8dyInVc8tcd C8QI

8WOud
OthctWI8c bc COn8Idct8by mOtc dImCmt 8nd 8bOVc8 tImc-COn8umIn_.
LtcdIt8nd8dcVcOQcdCtcdIt8y8tcmm8kcItQO88IbctO COnCcntt8tc8nd
tcdItcCtcnOHOu8m888c8 OlC8QIt8In 8 8hOtt QctIOd OltImc.LltcnthI8
u_u8tWh8tI8 tcQuItcd lOtthc 8CCcct8tcd dcVcOQmcnt OlncWlOtCc8 Ol
QtOduCtIOn8InCc thcInttOduCtIOnOlncWtcChnOO_Ic8u8u8ydcm8nd8
COn8Idct8bc InItI8InVc8mcnt8.
hc cxI8tcnCc Olthc CtcdIt8y8tcm m8kc8 ItQO88Ibc nOt_u8tlOtIn-
dIVIdu8C8QIt88butlOtthc tOt8 8OCI8 C8QIt8 tO8CCumu8tcmOtc th8n
_u8t thcQtOht8 OlthcQtcVIOu8QctIOdIn8Ol8t88 thcOb_cCtIVc COndItIOn8
Ol8CCumu8UOn8tcInQ8Cc.ncxQ8n8IOn OlcndIn_Cmthu888O c8d
tO 8 COn8Idct8bc 8ut_c Ol8CCumu8tIOn _u8t 88 tc8ttICtIVc cndIn_ C8n
ChOkc Othc 8CCumu8tIOn QtOCc88|. O thI8 cxtcnt thc CtcdIt 8y8tcm
COn8tItutc8 8 stctuta/ te/ating instance Ol thc C8QIt8b8t cCOnOmy.
L8QIt8I8t8 8tc 8nxIOu8 tO InVc8t 88 muCh C8QIt8 88 QO88Ibc In 8Qhctc8
Whctc thc hI_hc8tt8tc OlQtOhtI8 cxQcCtcd. oInCc thc8cInVc8tmcnt888 8
tuc8tc8tc88tQ8ttIm yh.n8nCcdthtOu_hO8n8OtthcI88ucOl8h8tc8thc
I 08 AN NTKODUCTlON TO KAKL MAKX'5 AI1A
CxlCnl lO WhICh lhC mOVCmCnl Ol CgIt _OC8 8mOOthy nd lhC 8gCcd Ol
CCumuuOn mndmCnl8y dCgCnd ugOn lhC CrCdIl 8y8lCm lhl I8, thc
Dnk8 nd CgIl mrkCl8.
hC CrCdIl 8y8lCm _rnl8 CCumulIOn Il8 lCxIDIuly. 1l "CCcCrlc8
thC mlCrI dCVCOgmCnl Ol lhC grOduClIVC lOrCC8 nd thC CrClIOn Ol thc
WOrd-mrkCl Dul Il I8 8O thC "thC grInCIgM CVCr Ol OVCrgrOduCIIOn
nd CxCC88IVC 8gCCulIOn In COmmCrCC [0aita/,3. 572). hC rC_u-
lIOn Ol CCumuuOn Dy thC CrCdIl 8y8lCm I8 thOrOu_hy CrI8I8-grOnc
grOCC88. hC _r8nun_ Ol CrCdIl, Dul DOVC thC lrdC In 8lOCk8 nd
DOnd8 "IVC On CgCCttIOn8 nd In8CCurIly. "ogCCuuOn mu8l OC-
Cur md lhI8 8gCCulIOn Cm 8O l: nd Cd lO lhC dC8lruCuOn Ol lhc
InVC8lCd CgIl. Ln thC h.nnCI mrkCl8 lhI8 Cm Cd lO 8gCCuuVc
"DuDDC8 [CxCC88IVC 8hrC grICC8| nd thC 8uD8CguCnl "Cr8h [ 8uddcn
l In grICC8| Dul DClOrC lhC Cr8h OnC nCVCr knOW8 lOr 8urC WhClhCr l I8
DuDDC Or WhClhCr hI_h 8hrC grICC8 rC IndICtIVC Ol n InCrC8C In lhc
grOhl8DIuty Ol lhC rC8gCCuVC CgIl8.
l WOud DC WOn_ lO OggO8C "8gCCulIVC hnnCI mrkCl8 lO "8O-
Id CgIlI8l grOduClIOn. VCry Cl Ol CgItMI8l grOduCuOn COnlIn8
8gCCulIVC CCmCnl 8InCC nO CgIlI8l Cm DC COmgClCy 8urC hC w rc-
IzC hI8 VuC Or l Whl grICC. ogCCuuOn On hnnCI mrkCl8 I8 mOrc
ODVOu8 nd rgId Dul mnO Wy 8OmClhIn_ guIllIVCy dICrCnt hOm
CgIt8118l grOduClIOn. Oth grOCCCd hOm nCCC88rIy unCCrlIn cxgCCll-
lIOn8 nd DOlh llCmgl lO ChICVC lhC 8mC lhIn_ thrOu_h lhC lrdC m
lhCIr rC8gCClIVC grOduCl8: lhC mxImIzuOn Ol grOhl.
OWCVCr thC rClIOn8hIg DClWCCn hn8nCI mrKCl8 nd Indu8trIm
grOduCuOn I8 nOl COn8lml In CIthCr gunullIVC Or guullIVC rC8gCCL
hI8 rClIOn Cn DC dICrCnl mVrIOu8 COunlrIC8 nd Cn 8O Chn_c
In lhC COur8C Ol CgIlM8l dCVcOgmCnl. hu8 dI8Cu88IOn8 COnCCH_
thC mClmOrghO8C8 Ol thC hnmCI mrkCl8 COn8ululC OnC Ol lhC CCnttm
thrCd8 Ol lhC dCDlC In thC g8l lCW yCr8 COnCCrnIn_ _ODIzlIOn.
J. Lti8i8
9. 1 0c/eand0tisis
oCVCrC dI8HglIOn8 :D lhC CCOnOmIC rCgrOduClIOn Ol 8OCICly rC rClCrrCd
u 8 m economic u. 1n CgIlM8l CCOnOmy lhI8 mCn8 lhl r_C
nunDCr Ol lhC COmmOdIuC8 grOduCCd rC nO On_Cr 8CB8DC: nOt DCCu8C
mCrC I8 nO C8un_ nCCd lOr lhC COrrC8gOndIn_ grOduCl8 Dul DCCu8C lhCrC
unO dCmnd DCKCd Dy |uingouet. LOmmOdIly CgIl Cn nO On_Cr
DC COmgClCy u8lOmCd InlO mOnCy CgIlM 8O lhl lhC dVnCCd CgIl
I8 gOOry VOrIzCd nd CCumuuOn dCCrC8C8. hC dCmnd On lhC grl
Ol CgIl!I8l CnlCrgrI8C8 lOr lhC CCmCnl8 Ol grOduCuVC CgIl8mCn8 Ol
grOduClIOn nd DOr-gOWCr8O dCCrC8C8. %88 unCmgOymCnl nd
dCCInC In lhC COn8umglIOn Ol lhC WOrKIn_ C88 C lhC COn8CguCnCC8 lhu8
CdIn_ lO h1rlhCr dCCInC In dCm8Dd ml mrlhCr :DlCn8IhC8 lhC CrI8I8.
LgIlI8m I8 nOl lhC Ony mOdC Ol grOduClIOn In WhICh m88IVC gOV-
Crly CxI8l8 MOn_8IdC CnOrmOu8 WClh Dul Il I8 mC Omy mOdC Ol grOduC-
uOn WhCrC 8urgu8 Ol _OOd8 COn8lIlulC8 grODCm: un8CDC _OOd8
Cd lO lhC ruIn Ol lhCIr OWnCr WhIC gCOgC WhO nCCd lhC8C _OOd8 lhC
mO8l rC unDC lO 8C lhC Omy lhIn_ lhCy gO88C88: mCIr DOr-gOWCr.
hC rC8On I8 lhl CgIl h8 nO nCCd lOr lhCIr DOr-gOWCr 8InCC Il Cn-
nOl grOhlDy mkC u8C Ol Il.
I 70 AN lNTKODUCTlON TO KAKL MAKX'5 AI1A
Ever since the earIy nineteenth century, when industrial capitaIism
became dominant in EngIand, and then in France, Cermany, and the
United States, crises occurred in the deveIoped capitist societie at
roughlyten-yearintens.FeriodsoFacceIeratedaccumulanonwithhigh
ratesoFprohtandincreasingwages wereFoIIowedbystagnanonandcti-
sis,whichultimatelycuIminatedinaninitiaIIysIow,andthenacceIerated
recoveryoFaccumuIaHon.
!nthetwentiethcentury,thiscycIicaldeveIopmentcontinued,butthe
cycIes were increasingIyIesspronounced than beFore. The importance
oFsuper-cycIicdevelopmentsincreased:withthegIobeconomiccn-
sis oFI929,alongperiod oFeconomicdepression set in thatwas onIy
surmounted in the I950s,and in NorthAericaandWestenEurope
gavewayto the Iong boomoFthe I950sand I960s,which rested on
Fordism"[seesection5.5).This ittcha]suundtcapitaIismbrougt
notomyhighprohtratesbutsomemploymentandanetensionoFme
welFarestate intheIeading capitaIistcountries.!nthisphasetherewere
aIsostilIcycIes,butwithoutacutecnses.ThccapitalismknowntoMao,
whichwascharacterizedbycrises,unempIoyment,andimpoverishment,
seemedtohavebeentranscended,atIeastinthecapitaIistmetropoIises.
ButthisstateoFadairschangedmndamentaJywimtheglobeconomic
crisis oFI974-75: the FordistmodeI oFaccumulation withits cheap"
methods oFincreasing productivity [TayIorism and mass production)
had reacheditsIimits,prohtratesdecIined,and cycIicaImovementsm-
creasedinstrength, aIthough even inperiods oFrecovery growth rates
weremodestand unemploymentremained high. Froht rates recovered
in the I980sand I990sprimarily 3 a resuIt oFstagnating ordecIining
reaIwagesasweIlascomprehensiveL cutsForbusinessesandwealthy
individualsthatwerehnancedprimarilybycutsinsociaIexpenditures.
TherecanbenodoubtthatthecourseoFcapitaIistdevelopmentin
the Iast I 80years was d]acto marked by crisis. However, the answer
tothequestionastothecausesoFthesecrisesissubecttodebate.The
maorityoFcIassicaIpolinceconomistsasweII ascontemporaryexpo-
nentsoFneoclassicaIeconomicswouIddisputethatcrisesarearesuItoF
the mndamentmechanics oFcapitaIism.For classicalandneoclassical
economists,crisesarecausedbyextenal"inluences[Foreample,state
CK5!5 I 7 I
CCOnOmIC QOICI8] Dul lhC CQIlI8l mIKCl CCOnOmy QI 8C I8 hC Ol CII-
8I8. Lny _Ohn %ynId yn8 [ I883-I946)llIIDuld ICuDnl m88
unCmQOymnl lO Cu88 InlIIn8IC lO CQIlb8m [yn8 I 936),lhu8 y-
In_ lh COInCI8lOn lOI "CynC8InI8m.
1n COnlI8l %O llCmQld lO QIOV lhl CrI88 IC8ul hOm lhC CQIl-
I8l mOdC Ol QIOduCuOn Il8l nd lhl CII8I8-hCC CQIlm8m I8 ImQO88:DC.
UOWvI On CDnOl hnd COmQIChCn8IVC lhOIy Ol CD8I8 In %O8
wOIK Dul IlhCI 8CllCICd mOI-OI-C88 CDOIlCd OD8CIVlIOn8 lhl hV
bCn WOIKd uQ Dy %OI8l8 InlO QuIl dI8lInCl lhCOrI8 Ol CrI8I8.
YIlh lh ny8I8 Ol mOnCy 8 mCn8 Ol CIICulIOn %O hd dC-
lCCld In lhC mdIlIOn Ol CXChn_ Dy mOny lh _nI ossi|i/itOl
CII8I8: OnC Cn 8 OnC8 OWn COmmOdIly WIlhOul nCCC88IIy DuyIn_
nOlhCI COmOdIly wIlh lhC mOny lhu8 Dd; Dy hO!d1n_ On lO lh
mOnCy mC QIOC88 Ol ICQIOduClIOn I8 InlCIIuQld [8CC 8ClIOn 3. 7,Dd
0aita/, I :208-9)."by8 LW WhICh CIm8 lhI I8 nC88Iy QuI-
BbIIum DlWn Duy1n_ nd 8CIn_ OI lhl 8uQQy nC88IIy InduCC8 D
CQu dCmnd I8 Ony VId WhCn lh CIICulIOn Ol COmmOdIu8 [mCdI-
ld Dy mOnCy] I8 CQulCd Wlh dIICl DIlCI: Omy lhCn dO8 Ch "8
COmCd WIlh 8ImulnOu8 "QurCh8. hu8 Whn C88IC nd nCO-
C88IC COnOmIC8 QuIQOIl lO 8uD8lnulC lh CIm Ol n In1CICnUy
CI18I8-hC CQIlI8m lhy D8IC!y 88um CQIlI8m WIlhOul mOny.
1l mu8l D CXQInCd hOW Clu CII8I8 IC8ul8 hOm lhC mCI QO8-
8IDIIly Ol CII8I8 Why lh ChIn Ol ICQIOduClIOn I8 InlCIIuQlCd. Ll lh VII-
Ou8 %tXI8l QQIOCh8 lO m!8 Qu8lIOn COn8IdIlIOn8 D8d uQOn lh
"W Ol lhC lCndnu l In lh IlC Ol QIOhl [8 8ClIOn 8. 3DOV]
Qyd ImQOIlnl IO In lIdIlIOn %rXI8m: 8 IC8ul Ol lh lIn_
IlC Ol QIOhl lhC QIOhl m88 w 8O CVCnluy l 8O lhl CCumu-
uOn InCIC8In_y 8OW8 dOWn nd ulImly d8 lO CI!8I8. hI8 QQI-
nUy CO8C lI DClWCCn CII8I8 lhCOIy nd lhC "W Ol lhC lCndCnu lm In
mC Il Ol QIOhl W8 u8u!y DChInd lhC Vhmnl dClCn8 Ol lhI8 W.
OWVI %O8 dCI8IV I_umnl8 COnCIn1n_ lhC lhOIy Ol CII8I8 I
COmQClCy IndQndCnl Ol lhI8 "W.
1n lh hI8l VOum Ol 0aita/,%IX hd Idy Idnl!hd lh QrO-
duClIOn Ol IClIV 8uIQu8 Vu 8 lhC mndmnl lCndCnCy Ol CQIlmI8l
dVCOQmnl: dCCI8In_ lh Vu OlDOI-QOWI Dy InCIC8In_ lh QIO-
I 72 AN lNTKODUCTlON TO KAKL MAKX'5 A1
duClIVIly OlMOI. hc mO8l ImQOIlanl mclhOd lOI dcVcOQIn_ lhc QIO-
duClIVIly Ol aDOI I8 lhc InltOduClIOn Ol InCIca8In_y ImQIOVcd maChIn
cIy [8cc 8cClIOn8 b.Z-b . J|. hc CO8l-8aVIn_ InlIOduClIOn Ol maChIncty u
mO8ly lIcd lO lhc cxlcn8IOn Ol lhc VOumc Ol QIOduClIOn. Pn InCIca8c m
QIOduClIVIly I8 lhcIclOIc aCCOmQanIcd Dy an InCIca8c In lhc guanlIly O
_OOd8 QIOduCcd WhICh I8 mIlhcI Inlcn8Ihcd Dy Uc ncCc88Iuc8 Ol COmQc-
lIuOn [lhc nccd lO Dc lhc hI8l lO OOd lhc maIXcl WIlh _OOd8 lhc nccd lO
anlICIQalc lhc dcVaualIOn Ol lhc mcan8 Ol QIOduClIOn Dy allcmQlIn_ lhc
la8lc8l QO88IDc cxhau8uOn Ol lhcII QIOduClIVc CaQaCIly|. hc lcndcnQ
lOI an unImIlcd cxlcn8IOn Ol toductionCOnlIOnl8 an a|i/igtoconse
In 8OCIcly lhal I8 bmIlcd In a VaIIcly Ol Way8 WhICh NaIx mak8 CcaI m
VOumc Ol 0aita/[JZh.|.
hc lOla socia/consumtionI8 nOl ImIlcd lO lhc IndIVIdua COn8umQ-
uOn Ol cnd COn8umcI8. 1l COn8I8l8 Ol lhc COn8umQlIOn Ol lhc WOIKIn_
Ca88 lhc uxuIy COn8umQlIOn Ol lhc CaQIlaI8l8 and InVc8lmcnl8 OI mOIc
QIcCI8cy lhc IcQaCcmcnl InVc8lmcnl8 lhal IcQaCc u8cd uQ maChIncIy
and lhc cxQan8IVc InVc8lmcnl lhIOu_h WhICh addIuOna mcan8 Ol QIO-
duClIOn aIc aCguIIcd lhal I8 lhIOu_h WhICh CaQIla I8 aCCumualcd.
hc COn8umQuOn Ol lhc WOIKIn_ Ca88 I8 COn8lIIClcd Dy lhc O_IC
Ol CaQIla VaOtIZalIOn: CaQIlaI8l8 allcmQl lO XccQ Wa_c8 a8 Wc a8 lhc
numDcI Ol cmQOycd aDOIcI8 a8 OW a8 QO88IDc 8InCc lOI an IndIVIdua
CaQIlaI8l lhc Wa_c I8 mcIcy an cxQcn8c laClOI. "\ndcICOn8umQlIOnI8l
lhcOIIc8 Ol CII8I8 aIc Da8cd uQOn lhI8 COn8lIIClcd QOWcI Ol COn8umQlIOn
Ol lhc WOIKn_ Ca88. P8 an cxQanalIOn lOI lhc cxI8lcnCc Ol CII8c8 lhc
aI_umcnl Ol cxCc88IVcy OW Wa_c8 and lhc Ic8ulIn_ "dcmand _aQ I8
In8umCIcnl: Wa_c8 aIc aWay8 OWcI lhan lhc lOla Vauc Ol lhc QIOduCl
[lhI8 lOla Vauc I8 cgua lO c W WhcIca8 Wa_c8 aIc Ony cgua lO u|.
Ya_c8WhclhcI hI_h OI OW~aIc ncVcI 8umCIcnl cnOu_h lO COn8ululc
lhc dcmand lOI lhc lOla QIOduCl.
n addIlIOn lO lhc COn8umQuOn dcmand Ol lhc WOIXIn_ Ca88 lhcIc
a8O cxI8l8 Uc uxuIy dcmand Ol Uc CaQIlaI8l8 WhICh I8 OW IcalIVc lO
lhc lOla cCOnOmy hOWcVcI 8O Wc Can nc_cCl Il hcIc. Inaby lhcIc I8 In-
Vc8lmcnl dcmand. hI8 I8 lhc dcCI8IVc VaIIaDc. lhc dcmand Ol CaQIla lOI
addIuOna mcan8 Ol QIOduCuOn dcQcnd8 uQOn Il a8 dOc8 IndIIcCly lhc
mIlhcI dcVcOQmcnl Ol lhc COn8umQlIOn Ol lhc WOIXIn_ Ca88 In8OlaI a8
CKl5l5 I 73
additiona abor-power is empoyed or not. Whether investments in pro-
ducnve capita (means oF production and abor-power) are high or low
depends, on the one hand, upon the exectedTo]tiF ony a sma pro6t
is expected, then investment is hed backd on the other hand, upon
de dierence between the expected rate oF proht and the rate oF interest.
The individua capitaist, abeit not the capitaist cass as a whoe, aways
has the choice oF investing his capitm in productive capita or oF empoy-
ing it as interest-bearing capita. Investment in 6ctitious capim increases
reanve to investment in productive capita when interest rates are high or
when expectations oF a rise in share prices increase.
So capitaist production and capitaist consumption are not just diF-
Ferenty detenined. Rather, their determining Factors are aso downright
antagonistic: a potennay unimited production con6onts a imited con-
sumpnon (imited not in terms oF human needs and desites but by the
ogic oF vaorization). Jhe consequence is a tendency toward the ocet
toductiono]commodities(overproduction reative to buying power) and
the ocet-accumu/ationo]caita/(accumuated capita that either cannot
be vaorized at a, or ony very poory), which utimatey eads to crisis:
reproduction stagnates, invested capita is devmued or even competey
wiped out, the east prohtabe production Faciities are cosed down, the
east prohtabe individum capitas go banktupt, workers are d o and
wages dechne with the rise in unempoyent. Crises are aso enormous
processes oF destruction. socia weath is annihiated and the hving con-
dinons oF a arge number oF peope worsen consideraby.
However, it is precisey these destnctive moments that vioenty
eiminate the imbmance between production and socim consumption.
Crises do not have ony a destructive side, For the capitaist system as a
whoe they are quite producnve": the destruction oF unprohtabe capi-
tas reduces production, and the devmuation oF mnctioning capim and
ow wages increase the rate oF proht For the remaining capitas. Uomatey,
interest rates once again dechne, since the demand For borrowed capita
aso decreases. AoF these Factors combined cear the way For a renewed
upturn, which is oFten supported by the introduction oF technoogca
improvements: an increased demand For new machinery stimuates in-
vesment in Department I (the sector producing means oF producnon)
I 74 AN lNTKODUCT!ON TO KAKL MAKX'5 AI1A
nd 8 COn8cgucnCc OlII8In_ cmQOymcnl 8O CCccIlc8 CCumU-
uOn InLcQIlmcnl 11 [lhc 8cClOI QIOduC:n_ mcn8 OlCOn8umQuOn|.
ncWuQluDbc_:n8lhlmlImlcyCumInlc8:n lhcncxlCII8I8.
bOCII8c8 Ic nOl_u8l dc8lIuClIVc.lhcIIn CII8c8 lhc unIlybclWccn
8QhcIc8 [8uCh 8QIOduClIOnnd COn8umQuOn| lhlbcOn_ lO_clhcIbul
bcCOmc IndcQcndcnl OlOncnOlhcI [QIOduClIOn nd COn8umQuOnlO-
OW dIhcIcnldclcDInuOn8| I8VIOcnlyIc8lOIcd. mm m8kc8 COn8Ml
IclcIcnCc lO lhc lCllhlCII8c8QcIlOImVuDc8cDICclOImcCQIM-
I8l 8y8lcm QIcCI8cy by mcn8 Ol lhc8c Cl8 Oldc8lIuClIOn [8cc lOI *
mQc0aita/,3:357,4I9.
1VcnIl IlI8QO88IbclOh_uIc Oullhc mcChn:8m8 OlCI:8I8In_cncm
CII8c8 lhcm8cVc8 CnnOl8ImQybcQIcVcnlcd.OIOnclmn_lhcQIc88UIc
OlCOmQcuuOn]otcesIndIV:duM CQIlMI8l8 lO cn__cIn 8QcCIhC bchVIOI
cVcnIllhcyknOW lhl mI8bchV:OIh8 lO_clhcIdc8uuCuVcchcCl8~bul
nO IndIVIdu8 Cm 8:mQyOQl Oul nd lhc 8Oc hOQc COn8I8l8IncmcI_n_
IclIVcyun8Clhcd.'OInOlhcIlhIn_lhc 8QcCIhCQcI:OdOllhcCyCcOl
CII8I8 In WhICh Onc hnd8 Onc8clCn ncVcI bc dclcImIncdWIlh CcIl8IDq.
18 lhccCOnOmy8uInQcIIOdOluQluDndw lhI8 COnlInuc8O lhl
cxlcn8IOn OlQIOduCuOnI8 8uWOIlhWhIc: LIh8 lhc8llcOlOVcIQIO-
duCuOnIcdybccnIcChcdndw IlmKcIl8cllclIn8c88umQ:1l
I8QIcCI8cylhcCOn8lDldcVcOQmcnlOllhclOICc8 OlQIOduCuOnlhIOu@
lhc InlIOduClIOnOlncWmclhOd8 OlQIOduCuOn~lOICcd uQOn cVcIyQIO-
duCcIWhOWI8hc8 lO 88cIlhI8 OI hcI QIc8cnCc On lhc mIkcllhlcd8
lO 8hIll8 In dcmd OW8. `cW bI8nChc8 cmcI_c Od Onc8 dI8QQcIOI
O8c mcII ImQOIlnCc mChInc8 md IW mlcII8 lhl WcIc QIcVIOu8y
ImQOIlnlIc nO On_cI8OOdcnlcQII8c8Ic dcVucdncW Onc8cmcI_c
WIlhOulCcIl:nly8 lOWhclhcIlhcyw ycdQIOhl8llhccxQcClcdcVc.
hc Ony lhIn_ CcIl:n In lhI8 cCOnOmIC luImO: I8 unCcIlInly. hc 8Oc
ChnCc lOI 8uIVIVIn_ 8 CQIlb8lundcI 8uCh CIICum8lnCc8 COn8I8l8m
u8In_m QO88IbIIlIc8lOIInCIc8In_QIOblIc_Idc88OlmcCOn8cgucnCc8.
Ilh:nCQIl8I8m, CI:8c8 CnnOl bc VOIdcdcVcnIlOnc CnmOIc OIc88
b_uIc Oul lhc dcVcOQmcnl8 lhlw cdlO CII8I8.
Pl lhc _cncIMcVcOldcQIClIOnInlcndcd by mm In 0aita/,nOlH-
In_mIlhcI Cn bc8:d COnCcIu:n_ lhc COnCIclc dcVcOQmcnl Ol8QcCIbC
CII8c8.hc QIO_Ic88IOn Ol8QcCIhC CII8c8 I8 dcQcndcnl uQOn lhc Ic8QcC-
CK5!5 75
uve concrete circumstances, such 3 technica and operationa deveop-
ments, the structure oF the credit system, the posinon oF a country on
the word market (a priority For capita particuary in times oF crisis),
the organization oF the working cass and its stngges, d the manner
oF state interention in the business cyce. This is not omy true For the
course oF the usua economic cyce oF roughy ten years, but particuary
For ong-term, super-cycica deveopments. At this point, we reach the
mts oF Mao's intended depiction oF the capitast mode oF producnon
at its idea average."
9.2IsTheteaTheoo]0o//ase"inNa'sotk
8ecause oF their destructive sides, economic crises were oFten regarded
in the cassica workers' movement as an existennm threat For capitahsm.
The possibi!ity For economic crises eading to a crisis oF the poitica
system was conceived as Foows. in ight oF the dimcuties oF economic
reproducnon, poitica power reationships woud ose their egitimacy,
and peope woud begin to rebe. In the eary I850s, Mao saw the revo-
unonary movements that shook Europe in I 848-49 as a consequence
oF the heavy economic crisis oF I 847-48. Somewhat hastdy, he genera-
ized this resut and expected the next revoution to come with the next
crisis [MECW, I0: 5I 0). The Foowing economic crises made it cear that
there is no necessariy direct connection between crisis and revoutiona
movement. Since the twentieth centu at the ve atest, we have eaned
dat the insecurity brought about by dramatic economic crises can aso
provide a breeding ground For nationmst and Fascist movements.
In the history oF the workers' movement, the notion that economic
crises woud utimatey ead to the coapse oF capitasm, that capitm-
ism was marching toward its hna crisis," was widespread. 0aita/was
interpreted as providing a Marxian theory oF coapse." We can hnd this
idea in the od Cerman Socia Democranc Party beFore I9I4, in the work
oF Rosa !uxemburg, and in eaborated Form in the work oF Henryk
Crossmann. In Cermany in the I990s, this od idea was revived by
Robert Kurz and the group Krisis."
I 70 AN INTKODUCTlON TO KAKL MAKX'5 A1A
n lhc lhItd VOumc Ol 0aita/,N8O 8Qc8X8 Ol lhc "b8ttIct8 Ol lhc
C8QIl8:8l mOdc Ol QtOduClIOn bul nOl In lhc 8cn8c Ol 8 lcmQOt8 cnd. P
"b8tt:ct 8hOud bc undct8lOOd hctc 88 8 tc8lt:Cl:On: C8Q:l8l dcVclOQ8 lhc
lOtCc8 Ol QtOduCuOn lO 8n cxlcnl unXnOwn :n QtcVIOu8 mOdc8 Ol QtO-
duClIOn bul lhI8 dcVclOQmcnl mctcy 8crc8 lhc 8m8-m:ndcd 8:m Ol lhc
VOt:Z8lIOn Ol C8Q:l8l.
hc he/attietOl C8Qt8st QrOduCtIOn Is caita/itet I
g
th8t C8Qt8
and Its scl-cxQ8nsIOn 8QQc8r 8s thc st8rtIn_ 8nd hnIshIn_ QOInt 8s thc
mOtIvc 8nd thc QurQOsc Ol QrOduCtIOn QrOduCtIOn s Ony QrOduCtIOn
lOr caita/8nd nOt thc rcvcrsc, I.c. thc mc8ns Ol QrOduCtOn 8rc nOt sm-
Qy mc8ns lOr 8 stc8dI!y cxQ8ndIn_ Q8ttcD Ol Ilc lOr thc socieg Ol mc
QrOduCcrs. (0aita/,3.358)
N8tx lhcn 8Qc8X8 Ol 8 "Qct8:8lcnl COn!lICl bclwccn Uc untc8ltICl-
cd dcVcOQmcnl Ol lhc lOtCc8 Ol QtOduCl:On 8nd lhc tc8lt:Clcd C8QIl8b8l
8Im-bul lhctc :8 nO mcnlIOn Ol 8 "COl8Q8c Ol my 8Otl.
1n Ony Onc 8In_c Q8888_cnOl In 0aita/, bul In lhc c8tIct
un0r886dO wc hnd 8 COmmcnl lh8l COuld bc InlctQtclcd 88 8 lhc-
Oty Ol CO18Q8c. N8tx nOlc8 lh8l wIlh:n lhc COnlcl Ol lhc InCtc88:n_ m-
QOtl8nCc Ol lhc 8QQIC8lIOn Ol 8C:cnCc lO lhc QtOduClIVc QtOCc88 Il I8 n0
On_ct Qt:m8Dy lhc 8bOt cxQcndcd In lhc QtOduClIOn QtOCc88 lh8l I8 0l
8I_n:hC8nCc bul t8lhct lhc 8QQlIC8l:On Ol 8CIcnCc lhc "_cnct8 QtOduC-
lIVc lOtCc. N8O lhu8 dt8w8 lhc COnClu8IOn Ol 8 "COl8Q8c Ol lhc wh0c
mOdc Ol QtOduCl:On tc8ullIn_ hOm lhc8c Ch8n_c8 w:lhIn lhc C8Q:l:8l
QtOCc88 Ol QtOduClIOn:
s sOOn 8s mOur mIts ImmcdI8tc lOrm h8s Cc8scd tO bc thc _rc8t sOurCc
Ol Wc8th 8bOur-tmc Cc8scs 8nd must Cc8sc tO bc Its mc8surc 8nd
thcrclOrc cxCh8n_c v8uc gmust Cc8sc tO bc thc mc8surc] Ol usc-v8uc.
hc sur/w/a/outo[themassesh8s Cc8scd tO bc thc COndItIOn lOr thc
dcvcOQmcnt Ol _cncra Wcth ust 8s thc non-/a/out o[the]w h8s
Cc8scd tO bc thc COndItIOn lOr thc dcvcOQmcnt Ol thc _cncr8 QOWcrs
Ol thc hum8n mInd. s 8 rcsu!t QrOduCtIOn b8scd uQOn cxCh8n_c v8uc
CO8Qscs. (MECW,29:9!)
CK 55 I 77
1n hI8 lCr WOrk8 %rx dOC8 nOl rCluD lO mI8 IdC hOm lhC
0tundtisse. Ln lhC COnlrry, %r ImgICIly rC_CClCd hI8 lOrmCr r_u-
mCnl8 Or CO!lg8C. Ir8l lhC 8I_nIhCnCC Ol 8CICnCC lOr lhC CgIl81I8l
grOduClIOn grOCC88 I8 dCl Wlh In mny g88_C8 Ol lhC hr8l VOumC Ol
0aita/,Dul lhC "8CgrlIOn Ol lhC InlCCClu lCulIC8 Ol lhC grOduClIOn
grOCC88 hOm mnu 8DOur [0aita/,I :548) I8 nOl rC_rdCd 8 WCkCn-
In_ lhC CgIlI8l mOdC Ol grOduClIOn, Dul 8 lOrCC lOr InCrC8In_ lhC
gOWCr Ol CgIlM OVCr DOr [8CC 8CClIOn 5.3).
oCCOnd, lhC VluC 8IdC Ol lhI8 grOCC88, lhC lCl lhl InCrC8In_y
C88 DOr mu8l DC CxgCndCd In lhC grOCC88 Ol grOduCIn_ 8In_C COm-
mOdIly, I8 nOl rC_rdCd In 0aita/8 lCndCnCy lOWrd COg8C Dul
8 lhC lOundlIOn lOr lhC grOduClIOn Ol rClIVC 8urgu8 VluC. hC
ggrCnl COnlrdIClIOn lhl 8O 8lOnI8hCd %rx In lhC 0tundtisse,
lhl CgIl "8lrIVIn_ lO rCduCC DOur lImC lO mInImum WhIC, On
lhC OlhCr hnd gO8IlIn_ DOur lImC 8 lhC 8OC mC8urC nd 8OurCC
Ol WCllh [%L, 29:9I), WhICh I8 CCVlCd Dy COnlCmgOrty rCg-
rC8CnllIVC8 Ol "COg8C lhCOty IkC ODCrl urz lO "O_IC 8Cl-
COnlrdIClIOn Ol CgIl nCCC88rIy CdIn_ lO CgIlI8m8 COg8C,
I8 C8uly dCCIghCrCd Dy %rx In lhC hr8l VOumC Ol 0aita/8 n Od
rIddC Ol gOIlIC CCOnOmy WIlh WhICh lhC CI_hlCCnlh-CCnluIy rCnCh
CCOnOmI8l @uC8ny hd hrrICd hI8 OggOnCnl8. hI8 rIddC, CCOrd-
In_ lO %rx I8 C8y lO _r8g WhCn OnC COn8IdCr8 lhl lhC IndIVIdu
CgIlI8l I8 nOl COnCCrnCd WIlh lhC D8OulC VuC Ol COmmOdIly,
Dul W1lh lhC 8urgu8 VuC [Or grOhl| lhl lhC COmmOdIly DrIn_8 In.
hC DOr-lImC nCCC88ty lOr lhC grOduClIOn Ol 8In_C COmmOd-
Ily Cn dCCInC lhC VuC Ol lhC COmmOdIly dCCrC8C8, 8 On_ 8 lhC
8urglu8 VuC Or grOhl grOduCCd Dy lhC CgIlI8l8 CgIl InCrC8C8.
hClhCr lhC 8urgu8 VuC]grO:l I8 ggOrlIOnCd mOn_ 8m num-
DCr Ol grOduCl8 Ol hI_h VuC Or r_C numDCr Ol grOduCl8 WIlh
8mCr VuC I8 lhCrClOrC In8I_nIhCnl [0aita/,I.43 7).
VCn dI8rC_rdIn_ m lhC dClICd OD_CClIOn8, mCOrIC8 Ol COlg8C rC
COnhOnlCd WIlh lhC mndmCnl grODCm lhl lhCy Cmm n InCVIlDC
dCVCOgmCnll lCndCnCy lhl CgIlI8m I8 8O unMlC lO dCl WIlh lhl Il8
mrlhCr CxI8lCnCC nCCC88rIy DCCOmC8 ImgO88IDCrC_rdC88 Ol Whl-
CVCr hggCns In lhC Clul COur8C OlhI8lOry.
I 78 AN NTKODUCTlON TO KAKL MAKX'5 AI1A
Or lhC Cll lhC lhCOry Ol lhC COg8C Ol CgIlI8m h8 hI8lOrICBy
Wy8 hd CxCu8lOry mnClIOn: rC_rdC88 Ol hOW Dd COnlCmgOrQ
dClCl8 WCrC lhC OggOnCnl8 Cnd W8 CCrlInly. O CrIlICIzC 8uCh lhCO-
rIC8 Ol COg8C mCn8 m nO Wy lO dClCnd CgIlI8m [8 8OmC rCgrC8CB-
llIVC8 Ol COg8C lhCOry mInl81n] 8uCh CrIlIC _u8l Im8 lO h_hl _81n8l
CgIlI8m WIlhOul Iu8IOn8 lhl rC8l On Ddy lOundCd lhCOrIC8.
0. C Cti8i8m O bOCil HCltiOn8
in OUt_COi8 bOCiCty
10. 1 TheinigFoum
Yilh lhc QrcdOm1nanCc Ol lhc CaQilM8l mOdc Ol QrOduCuOn lhcOd c8lalc8
and lcudm rcauOn8mQ8 lO_clhcr Wim lhcir QO1uCm 8nd rC_iOu8 lIaQQIn_8
di88OVc. L8lalc8 QriVc_c8 8nd inhcDlcd 8ci_n:Ora_c8 ladc aW8y bcmnd lhc
cgum1ly Ol COmmOdily OWcr8 Wilh unccn QrOQcrly a8 lhc Ony IncguMly.
Jhc 8y8lcmauC dcVcOQmcnl Ol 8CicnCc 8nd lcCmOO_y rcgucd md QrO-
mOlcd by CaQilM8m undcImInc8 Cu8lOm8Iy Qrc_udiCc8 md rcb_iOu8 Ca-
nauOn8 Ol lhc WOtd. LQOn lhi8 lOundauOn cmcr_cd lhc 8cl-COnCcQuOn Ol
bOur_cOi8-CaQilM8l 8OCicly a8 a ba8uOn Ol cnB_hlcmcnl CiV:izauOn md
Culurc In WhICh lCCidcnl8 CiV::zauOn had rcaChcd il8 8uQQO8cd d.
rOm lh:8 Qcr8QcCuVc m Olhcr 8OCi8 lOrmauOn8 aQQcar a8 undcrdcVcOQcd
QrcCur8Or8 Ol bOur_cOi8 8OCicly Or a8 "QrmuVc dcmOn8ualcd mOn_
Olhcr d_8 by lhcir "lcu8hi8m in Wh:Ch ma_Cm QOWcr8 8rc allCbulcd lO
a QicCc Ol WOOd Or COlh. Tm lccbn_ Ol 8uQcI:Orily 8uQQ:cd lhc COOu18-
I8m Ol lhc u1nclccnlh md lWcnuclh Ccnluic8 Wilh il8 idcOO_iC8 cmbcm8h-
mcnl: il W8 8uQQO8cdy mcrcy lhc Ca8c dl Culurc 8nd CwauOn Wcrc
bcIn_ brOu_hl lO lhc COOnizcd QOQuauOn8.
I 80 AN NTKODUCTON TO KAKL MAKX'5 AI1A
The rationaist seF-conception oF the bourgeois-capitaist epoch was
mso echoed by socioogica refection. Thus did M Weber (I8+
I920), one oF the most important Founding Fathers oF modern socio-
ogy, estabish the disenchantment oF the word" and a rationalizatien"
penetrating a spheres and reations oF iFe as decisive characteristics eF
capimist societies.
Mao and Enges aso had such disenchantment" in mind as they
characterized the consequences oF the rise oF the bourgeoisie in the
0ommunistNanqstooF I 848:
Thebourgeoisie,whereverithasgot theupperhand,hasputanend
toM leudaI,patriarchaI,idyIIicreIations. . . . Inoneword,lor expIoita-
tion,veiledbyreligousandpoIiticaIilIusions,ithassubstitutednmed,
shameIess,direct,brutaIexpIoitatione . e . A med,last-6ozenreIations,
with theirtrnolancientandvenerabIe preudicesandopinions,are
sweptaway,new-lonedonesbecomeantiquatedbeloretheycanos-
si[.A thatissoIidmeItsintoair,thatishoIyisprolaned,andmanis
atIaetcompeIIedtolacewithsobersenses,hisreaIconditionsollile,and
hisrelationswithhiskind.(HLCW, :+8-8)
!n the 0ommunistNanto,Marx and Enges sti hod the opinion
that with the estabishment oF capitaism, socia reations woud become
increasingy transparent: dominabon and expoitabon are no onger mys-
b6ed and disguised, but openy visibe. Comected with this view was
the hope that the oppressed and expoited, now that th were Forced
to perceive their situation with sober senses," woud increasingy strike
back against expoitative reations.
The nobon that the oitabon oF the worHng cass in capitaism N
readiy trsparent and dat ony de mampuation oF the ruerswith the
hep oF the press, church, schoos, etc.disgmsed it was wdespread in tra-
dibona Marxism. The cntique oF ideoogy was understood 3 an act oF
eposure: one merey had to uncover the rea interests" behind a notion.
However, Mao did not remain at the eve oF anaysis oF the 0ommunist
Nanqsto.!n 0aita/,it is in no way the case that socim reations in capi-
taism are regarded as transparent. Quite the contrary, centra passages
THE FET5H5M OF 5OClAL KELATON5 I 8 I
oFtheworkdealwiththemysnhcation"oF thesesociaIreIations.That
whichMaodescribesm0aita/asFetishismmdmystihcationareinver-
sionsthatdonotarisehomthemanipulationoFtheruIingcIass,butrath-
erhomthestructureoFbourgeois societyandtheactivtythatconstantly
reproduces this snucture. The Factthat Marx speaks oFFetishismis a
pointedbarbagainstmeenIightened-rationalistseIF-conhdenceoFbour-
geoissociety, aswelIasagainsttheempiricaIselF-conceptionoFpoIiticaI
economy,whichrestsuponthisFetishism[seesection3.8).
ThevariousFetishFonsandmysnhcationsmatweredeaItwithinthe
prevouschaptersdonotexistunconnectedalongsideoneanomer.They
constituteawhoIethatMaooutlinesmsummaryattheendoFthethird
voIumeoF0aita/underthetideTheTrinityFormula"[chapter48).
Thecapitalistprocess oFproducnonis aspecihchistoricalForm oF
the sociaIprocessoFproduction.!tsFoundationisthe separationoFdi-
rectproducershomthemeans oFproduction,whichiswhyworkers-
aIthoughFormIyheeareForcedbymaterialcircumstancetoselItheir
Iabor-power to the capitaIist,who owns the means oFproduction.The
capitalistpaysthevalueoFlabor-power[its costoFreproduction)inthe
FonoFwages,butalIowslabor-powertoworklongerthanisnecessary
ForthereproductionoFitsvaIue:thecapitaIistextractssurplusIaborhom
hisempIoyeesandthissurpluslaborisreaIizedassurplusvaIuewhenthe
productis sold.ButthesuqlusvaIue does notremainentirelywiththe
capitalist: hrsthemustpaygtoundtenttothe Iandowner [orbuyIand,
musbecomingaImdownerhimselF).CapitaIistsmustpaygroundrent,
sinceIandislimitedandistheprivatepropertyoFlandowners.Thecapi-
talistcanonlymaketheannuitypaymentsoutoFhissurplusvaIue,even
uheregardstheannuityasanormalcostFactor.ThecIassoFcapitaIists,
whoarethehrsttoappropriatesurpIusvaIue,mustshareitwiththeclass
oFIandowners.'
However,productsarenotsoIdattheirvaIue,sotheindividualcapi-
taIistdoesnotappropriateexactlytheamountoFsurpIusvaluecreatedby
meIabor-powerheempIoys.BarringcoincidentaIhuctuations,theindi-
viduaIcapitaIistobtainstheaverageproht,thatistosay,aprohtpropor-
nonaltothequmtityoFthecapitaIadvmcedbyhim.Thisaverageproht
isthendividedintointerestandprohtoFenterprise.
I 82 AN NTKODUCTlON TO KAKL MAKX'5 AJ1A
hc nnuM lOl QtOduCl Ol lhc cCOnOmy I8 mu8 dIVdcd mlctI8y
nd In lctm8 Ol vMuc DclWccn QOtlIOn lhl tcQCc8 u8cd mcn8 Ol QtO-
duCDOn QOtlIOn thl lhc WOtkct8 tcCcIvc 8 W_c8 nd I8 ncCc88ty lOt
lhcIt tcQtOduClIOn nd 8utQu8 QtOduCl DcyOnd lhl I8 ncCc88ty Ot
lhc tcQtOduClIOn Ol mcn8 Ol QtOduClIOn nd aDOt-QOWct. hI8 8l QOt-
l:On I8 d:vIdcd InlO _tOund tcnl Inlctc8l nd QtOhl Ol cnlctQtI8c.
LQIt nd nd DOt-QOWct 8 mndmcnly dIhctcnl 8 lhcy :c
hvc lhc COmmOn QtOQctly Ol DcIn_ soutceso]incomeOt tecenuelOt lhcIt
OWnct8: CQIl yIcd8 QtOhl Ot Inlctc8l nd yIcd8 _tOund tcnl ud
DOt-QOWct yIcd8 W_c [Ot 8 lhc C8c my Dc DOt yIcd8 W_c:
lhl I8 hOW Il QQct8 lO DOlh WOtkct8 nd CQIlI8l8| [8cc 8cClIOn 4.5).
hc8c :DCOmc8 Cn Dc COmQclcy COn8umcd W:lhOul lhcIt tc8QcCDvc
8OutCc8 tunmn_ dty.
LQItM I8 8OutCc Ol InCOmc DcCu8c l MOW8 lhc CQIt:8l lO c-
ltCl 8utQu8 DOt hOm lhc DOt-QOWct hc cmQOy8 nd I8 8OutCc Ol
InCOmc DcCu8c Il makc8 Il QO88IDc lOt ndOWnct8 lO lltCl QOtlIOn
Ol lhc 8utQu8 vMuc cxltClcd Dy lhc CQIlI8l nd DOt I8 8OutCc Ol
InCOmc DcCu8c lhc WOtkct8 ODlIn QOtlIOn Ol lhc vMuc lhcy Ctclc Dy
mcn8 OlDOt. LQIla nd nd aDOt tc lhu8 Ony soutceso]incomeDc-
Cu8c lhcy tc mcn8 Ol atotiation undct CQIlu8l 8OCIM tcl:On8
Dy mcn8 Ol CQIl nd nd DOt Onc Cn agtotiateaottiono]the
annua/toductinthe]otmo]income.
hc mllct 8ccm8 lO Dc Invctlcd lO mc _cnl8 Ol QtOduClIOn [CQIlM-
I8l8 ndOWnct8 nd lOtCc8 OlDOt| 8 Wc 8 In mO8l cCOnOmIC lhcO-
tIc8. O lhcm CQIl _tOund tcnl nd aDOt 8ccm lO Dc lhtcc dI8lInCI
nd IndcQcndcnl soutces o]the ca/uetoducedannua/(,nd Il I8 Ony
DcCu8c mcy tc soutceso]ca/ueuhI8 lhc COnCu8IOn tcChcd Dy DOlh
COmmOn 8cn8c 8 Wc 8 QtOlc88IOna cCOnOmI8l8~thl lhcy Cn Cl t
8 meanso]agtqtiatinglhI8 vuc. 1Ot lhc _cnl8 Ol QtOduCDOn Il
8ccm8 8 Il lhc OWnct8 Ol CQIl nd nd DOt u8uy tcCcIvc 8 InCOmc
QtcCI8cy lhl QOtlIOn Ol vuc thl lhcIt "lClOt Ol QtOduClIOn COnlt:D-
ulc8 lO lhc QtOduCl.
OW dOc8 lhI8 8cmDnCc COmc DOul: hc 8cClIOn On lhc lcl:8h
ChtClct Ol COmmOdIlIc8 [.b| CtIb.cd thl lhc ChtClctI8lIC Ol COm-
mOdIlIc8 Ol QO88c88In_ vuc QQct8 8 "8OCI-nlut QtOQctly
THE FET!5H5M OF 5OC!AL KELATlON5 I 83
[0aita/, I . I 5). athough that vaue is not a natura property ike
weight or coor, it appears as iF products automaticay possess vaue
m every socia context, and not just in a particuar one. Regarding omy
the purey materia side oF production, the individua product is the
resut oF a production process in which abor is expended (produced),
means oF production are appied, and and (in agricuture or in the ex-
traction oF raw materias) is used. The process oF vaue creation is thus
understood as an anaogue to this materia process: as the contribution
oF vaue by the Factors oF production.
The Foundation oF this inversion consists in the Fact that there seems
to be no essentia dierence between abor and wage-abor. The separa-
uon between abor and the materia condibons oF production is accepted
as natura. However, iF there is no essentim dierence between abor
and wage-abor, then there is aso no such dierence between de means
oF producbon and capita!, nor between and and anded property. Marx
summarizes this in de Foowing way:
l 8bOur 8nd W8_c-8bOur thus COInCIdc sO tOO dO thc Q8rtICu8r sO-
CI8 lOrm n WhICh thc COndItIOns Ol 8bOur COnlrOnt aLOur 8nd thcIr
OWn m8tcr8 cxIstcnCc. hc mc8ns Ol 8bOut 8rc thcn C8QIt8 8s suCh
WhIc thc c8rth 8s suCh Is 8ndcd QrOQcrty. hc lOD8 8utOnOmy thcsc
COndItIOns Ol8bOur 8CQuIrc vIs--vIs 8bOur thc Q8rtICu8t lOrm Ol thIs
8utOnOmy thcy QOsscss Is thcn 8 QrOQcrty InscQ8rabc lrOm thcm 8s
thIn_s 8s m8tcrIa1 COndItIOns Ol QrOduCtIOn 8n Imm8ncndy n_rOWn
Ch8r8Ctcr th8t ncCcss8rIy l8s tO thcm 8s ccmcnts Ol QrOduCtIOn.
hcIr sOCI8 Ch8r8Ctcr In thc C8QIt8Ist QrOduCtIOn QrOCcss dctcrmIncd
by 8 Q8rtICu8r hIstOrIC8 cQOCh Is 8n Inn8tc m8tcr8 Ch8r8Ctcr n8tur8
tO thcm 8nd ctcD8y sO 8s It Wcrc 8s ccmcnts Ol thc QrOduCtIOn QrO-
Ccss. (0aita/, 3.964)
The socia/]otm-deteinations wage-or, capita, and anded
property seemingy coincide with the matetia/conditionso]toduction
oF or, means oF production, and and, so that every abor process is
actuay mready a capitaist production process. Mac thereFore speaks
oF the rei6cation oF the reations oF production" [0aita/,3:99). with
1 9 AN NTKODUCTION TO KAKL MAKX'5 AI1A
regard to the reations oF production, it is no onger apparent that these
are speci6c historica reations between peope. Rather, these seem to
have an objective Foundation in the Fact that production occurs at m .
Wages, pro6ts, and rent thus seem to be nothing other than the por-
tions oF the product's vaue that can be traced back to the mnctiomng oF
wage-abor, capita, and anded property. At the same time, the transFor-
mation oF the vaue oFabor-power into the vaue oFlabor" (see section
4.5) is mndamenta: precisey because the wage appears to compensate
the vaue oF abor," the remaining components oF newy added vaue,
pro6t and rent, must emanate hom de remaining two Factors oF pro-
duction," capita and anded property. Since commodities are not e-
changed at their va!ues but rather at prices oF producnon, this sembance
cannot be resoved with regard to a singe commodity. There does not
appear to be any sort oF connection between de expended abor on the
one hand, and the average pro6t and rent on de other: pro6t depends
(under norma conditions) upon the size oF the capita empoyed, regard-
ess whether many or Few aborers are empoyed, and rent depends upon
which and and how much oF it is used.
Capitapro6t[interest, anded propertyrent, aborwage: this
trinity" as an expression oF a seeming connection between vaue and
its sources is reFerred to by Mao as de ttinig]ou/a. It competes,
according to Mao,
thc mystIhC8UOn Ol thc C8QIt8Ist mOdc Ol QtOduCtIOn thc rcmC8tIOn Ol
sOCIm rc8tIOns Md thc ImmcdI8tc CO8csCcnCc Ol thc m8tcrI8 tc8tIOns
Ol QrOduCtIOn WIth thcIt hIstOrICm 8nd sOCI8 sQcCIhCIty: mc bcWItChcd
dIstOrtcd 8nd uQsIdc-dOWn WOtd h8untcd by %OnsIcur c L8QIt8 8nd
%8dc Lcrrc WhO 8rc 8t thc s8mc tImc sOCI8 Ch8r8Ctcrs 8nd mctc
thIn_s. aa99
0aita/and and" in capitaist society obtain magica abihties simiar
to those oF wood or coth Fetishes in alegedy primitive societies. Peope
in bourgeois society thereFore ive in an enchanted" word, in which d
personi6cation oF things" occurs: the subjects oF the socia process are
not peope, but commodity, money, and capita. This is not merey a case
THE FETl 5Hl 5M OF 5OCAL KELATlON5 I 85
oFFase consciousness." !t is the socim practice oF capitaist society that
constanty enacts a process whereby the Factors oF production" take on
a iFe oF their own and socia cohesion is constituted as an objective ne-
cessity that individums c ony escape on pain oF run. To that extent,
personi6ed thngs soutey possess a materia Force.
A members oF bourgeois society are subordinate to the Fetishism
oF socia reabons. This Fetishism takes root as an objective Form oF
thought" that structures the perception oF a members oF society (see
section 3.8). Neither capitaists nor workers have a priveged position
dat mows them to evade this Fetishism.
However, this FetishIsm is aso not a competey cosed universa con-
tet oF deception hom which there is no escape. Rather, it constitutes
a stncturm background dat is aways present, but aects dierent in-
dividums with varying strength and can be penetrated on the basis oF
eerience and refection.
10.2ExotsusonAnti-Semitum
!n the PreFace to the 6rst edition oF 0aita/,M writes that he doesn't
by any means depict the capitaist and the andowner in rosy coours,"
/utthathudeictiondea/withindioidua/ony in so Far as they are the per-
soni6cations oF economic categones," and thereFore the point cannot be to
make the individua responsibe For reations whose creature he sociay
remains, however much he may subjecbvey rse himseIF above them"
[0aita/,I :92). As shown above (see section 4.2 or 5.2), economIc actors
Foow a rationahty that is imposed upon them by the economic reations.
Thus the constant attempts by capitaists to raise the eve oF vmonzation
(in the normm case) does not resut hom an excessive addiction to pro6t"
on the part oF the individum capitaist, it is competition that Forces such
behavior upon individua capitaists on paIn oF economic ruin. Everybody,
incuding those who pro6t hom the operaHon oF capitahsm, is part oF a
ggantic wheework. Capitaism tums out to be an anonymous machine,
wdout any Foreman who steers the machine or c be made responsibe
For the destruction wrought by the machine. !F one wishes to put an end to
I 80 AN NTKODUCTlON TO KAKL MAKX'5 AI1A
8uChdc8ttuCtIOnItI8nOt8umCIcnttO CIItICIZcCQIt88t8.HthcICQIt-
I8t 8ttuCtuIc8 IndcIIcntItctymu8t bc bOI8hcd.
ththc"QcI8OnIhCtIOnOlthIn_8ndthcIcIb.CUOnOlthcIctIOn8
OlQIOduCtIOn[0aita/,3:969),CQIt8I8m 8WhOc 8ccm8 tO bcI_cy
Immunc tO CIItICI8m. bInCc thc CQItI8t mChInc QQcI8 tO bc nOth
In_ OthcI dn thc mO8t dVnCcd mnIlc8ttIOn Olthc QIOCc88 Ol8OCIm
Ilc[tht8OCI8lOtm-dctctm1ntIOn8CnnOOn_cIbcdI8Un_uI8hcdhOm
thcII mtctI8 COntcnt I8 QIcCI8cy Wht I8 cxQIc88cd by thc ttinig]ot
mu/a),8OCIcty CnnOt cxtIICtc It8clhOm thI8 mChInc. hc 8ub_u_-
tIOntOc_cdyunVOIdbc"Ob_cCtIVcncCc88ItIc8I8 8OItWOud8ccm,
ImQO88IbctO c8CQcOncmu8t8ImQyCOmctOtctm8WIth thc8ItutIOn.
1n I_ht Olthc ImQO8ItIOn8 OlCQIt8I8mIt8 CtI8I8-QIOnc dcVcOQ-
mcnt Oltcn Ct8tIOQhIC In It8 ccCt8 uQOn IndIV1du IIVc8It8 COn8t8nt
C8In_IntOQuc8tIOn8IVIn_COndItIOn8ndCIICum8tnCc8thcIcOCCut
tImc nd tImc _8In lOtm8 Ol bInkcIcd nc_tIOn OllctI8hI8m: "_uIty
QItIc8 Ic 8Ou_ht bchInd thc nOnymOu8 CQItI8t mChIncty tht C8n
bcmdc Ic8QOn8IbclOIthcmI8cIy. ttcmQt8Icmdc tO InlucnCcthcII
CtIOn8 In cxtIcmc C8c8 thcy Ic 8uQQO8cd tO tOnc lOI dc mI8dccd8
ttDbutcdtO thcm.hu8InthcVIIOu8CQItI8t8OCIctIc8etsona/iza
tion o]]etishuticte/ationsCn bc Ob8cFcd tImc md tImc _In. mOn_
8uChlOIm8OlQcI8OnIZtIOn I8 anti-Semitism,hOWcVcIItCnnOtbcIc-
duCcd tO 8uCh QcI8OnIZt1On.''
1n 0aita/,%Ix dOc8 nOtdcWIth 8uCh Ct8 OlQcI8OnIZtIOnOI
WIthntI-bcm1tI8m.1nthI88cCUOnWcIntcndtOdc8W1ththc8cQhcnOm-
cn _In8t thc bCk_IOund Ol%Ix8 ny8I8 OllcU8hI8m thOu_h In
dOIn_ 8O Wc Dn uQ _8In8t thc ImIt8 Olthc dcQICtIOn Olthc CQItI8t
mOdc OlQIOduCtIOn tIt8"IdcVcI_c:QcI8OnIZtIOnmdntI-bcm-
ItI8m CnnOtbc "dctIVcdlIOm thc Ctc_OIIc8 Olthc CtItIQucOlQOIUCM
cCOnOmy. hc QcI8OnIZtIOn OlCQItI8t IctIOn8 Cn tkc On COm-
Qctcy dIcIcnt lOH8 dcQcndIn_ uQOn dc hI8tOtIC COntcxt nd thc
QItICuI 8OCI 8ttuCtuIc nd mutIQc lOIm8 Cn cxI8t 8ImutncOu8y
On_8Idc Onc nOthcI.
1t I8 8cdOm thc C8c tht CQItI8t8 8 WhOc Ic mdc Ic8QOn8Ibc
lOIQItICmImI8ctIc8.1tI8 tOO COn8QICuOu8 thtCQItI8t8Ic 8OOhcn
thc Onc8 bcIn_ dIIVcnhVIn_ tO Obcy thc "dcmnd8 Olthc mIkctu
THE FETl5H5M OF 5OCAL KELATON5 I 8 7
thcy dOnt Want tO _O undcr. hI8 aQQcar8 tO Dc dc Ca8c lOr 8mall and
mcdIum CaQIta8t8 Whcrca8 ar_c COQOratIOn8 and "mOnOQOlIc8 arc a-
c_cd tO haVc thc QOWcr Ol cudIn_ 8uCh dcmand8 Or DcIn_ aDlc tO Crcatc
thcm In thc hr8t QlaCc. 8 a rc8ut a dI8tInCuOn I8 madc Dcccn thc _OOd
CaQItalI8m Ol thc 8ma CaQItalI8t8 and thc Dad un8CruQulOu8 cXQlOItatIVc
CaQItaI8m Ol thc DI_ CaQItaI8t8. hc lattcr arc thcn rc_ardcd a8 QullIn_
dc 8trIn_8 In thc DaCk_rOund.
nOthcr VarIant Ol Qcr8OnalIZatIOn I8 thc rclcrcnCc tO "thc Dank8 [Or
QO88IDly "thc 8QcCuatOr8| WhICh Dy mcan8 Ol CrcdIt and 8tOCk OWncr-
8hIQ COntrO a ar_c numDcr Ol cntcrQrI8c8 and arc thcrclOrc thc 8cCrct
ma8tcrmInd8 Ol thc cCOnOmy crc a _OOd Indu8trIM-QrOduCtIVc CaQIta
I8 COntra8tcd tO an cVIl mOncy-hun_ry hnanCIa CaQItal.
hc8c aCt8 Ol Qcr8OnalIZatIOn arc Da8cd uQOn guItc rcM dIhcrcnCc8:
thc COmQctItIVc 8ItuatIOn and thc rOOm lOr mancuVcOn_ Ol a 8mal Du8I-
nc88 I8 u8ualy muCh dIhcrcnt than that Ol a lar_c Du8Inc88 DctWccn
Dank8 and Indu8trIM cntcQrI8c8 thcrc arc Oltcn COn8IdcraDc dIhcrcnCc8
Ol IDtcrc8t COnCcrnIn_ many guc8tIOn8. hcrc arc M8O Qcnty Ol cXamQc8
Ol thc DO88c8 Ol lar_c Du8Inc88c8 and Dank8 attcmQtIn_ tO cXQlOIt thcIr
QO8ItIOn8 Ol QOWcr. ct cVcn DI_ Du8Inc88c8 and lar_c Dank8 CannOt Qcr-
mancnty cXtrICatc thcm8cVc8 hOm thc COcrCIVc aW8 Ol an cCOnOmIC 8y8-
tcm mcdIatcd Dy Vauc. Lltcn DI_ Du8Inc88c8 Dank8 and 8QcCulatOr8 arc
aCCu8cd OlDcIn_ mOtIVatcd 8Olcy Dy thc guc8t lOr QrOht Dut that8 alWay8
thc Ca8c In CaQItaI8m lOr cVcry CaQItaI8t ar_c Or 8mal.
8QcCIM lOrm Ol Qcr8OnMIZatIOn OCCur8 In anti-Semitism.crc _cW8
arc aCCu8cd Ol an cCOnOmIC OrIcntatIOn tOWard mOncy and QrOhtccrIn_
that I8 ac_cdy rOOtcd In thcIr "naturc Or8InCc thc rI8c Ol"raCc thcO-
rIc8 In thc nInctccnth CcnturyIn thcIr "raCc a8 Wcll a8 an unCOndI-
tIOnM 8trIVIn_ lOr QOWcr that InCudc8 Qan8 lOr WOrd dOmInatIOn Qan8
that arc ac_cd tO haVc Dccn arcady 8uCCc88h: tO a CcrtaIn cXtcnt.
atrcd and Qcr8cCuuOn Ol _cW8 arcady cXI8tcd In Qrc-DOur_cOI8 8OCI-
ctIc8 QrImarIy In thc )urOQcan NIddc _c8. OWcVcr thcrc arc 8I_nIh-
Cant dIhcrcnCc8 DctWccn mcdIcVa hatrcd Ol _cW8 and thc antI-bcmItI8m
Ol thc nInctccnth and tWcntIcth CcnturIc8. bInCc thc Lru8adc8 [thc hr8t
OCCurrcd In I 09), hatrcd Ol _cW8 had a 8trOn_ rcI_IOu8 COmQOncnt.
_cW8 had alrcady Dccn dc8CrIDcd a8 "murdcrcr8 Ol LOd duc tO thc CH-
I 88 AN lNTKODUCTON TO KAKL MAKX'5 AJ1A
ci6xion oF esus, but with the Crusades this accusation acquired a new
quaIity: the opinion became widespread that one shoud sIay these mur-
derers oF Cod" as weI as me Mahometans" occupy:ng the HoIy Land."
In the same period, the ban on Christians earning interest was tightened
(Third CounciI oF the Lateran, I I 79), whiIe ews were simuItaneousIy
denied entry to a vanety oF proFessions (Fourth CounciI oF oF the Laterm,
I2I5). IFews did not wish to be baptized as Christians, neary the onIy
avaiIabe sources oF income were trade and moneyending.
!n pre-bourgeois societies, exchange and money mso existed, but ony
pIayed a subordinate roIe. ExpIoitation and domination were direcdy me-
diated by personm reIations oF Force and dependence (the dependence cF
sIaves upon their owners, the dependence oF serFs or peasants compeIIed
to perForm core upon andIords, etc.). The spread oF exchange and
money undermined pre-bourgeois reIations and increased the misery oF
the Iower casses, oFten, impoverishment had begun through an act oF
borrowng hom a smah moneyender.
NobIes and princes made use oF the servces oFargeewish bankers.
The Iatter received in return a priviIeged pIace at the nobe court, but
were mso oFten the objects oF generaI envy and made responsibe For po-
IiticaI and 6nancim dicuties.
ews were not the onIy peope in the MiddIe Ages and eary moden
period who were occupied with trade d moneyIending, but throughout
the course oF centuries, they were conspicuousy visibIe as an en" group
as a resuIt oF Forced comng reguIauons, hving in ghettos, and non-paruci-
pauon in Christian FestivaIs. !t was mereFore easy to iden them wth the
destructive power oF money and interest, regardIess oF whether one
adected by ddestructive power or u one had any contact wth ews at aII.
The ews became the objects oF a widespread hatred that was mrther incit-
ed by wiId rumors such as the aIIeged ntuaI murder oF Christian chiIdren.
Since the High Midde Ages, ms hate discharged increasingy in the
Form oF pogroms and expusions, ohen with the approvm oF the Church,
princes, or the urban upper cIass. !n the end, members oF both the higher
d ower orders oF society heIped themseIves to ewish properq
The reIigious aspect no onger pIays an important roIe For moden
anti-Semtism. !n an increasingIy secuIarized word, the wong" reIigion
THE FETl5H!5M OF 5OClAL KELATlON5 89
Cn nO On_cIbc dcCI8IVc CIIlcIIOn. OWcVcI cCOnOmIC bchVIOIl-
ltIbulcdlO_cW8-bcIn_InlcIc8lcd8OcyInmOncyndQIOhlnOlhVIn_
lO WOIk8 Ic8ul Ollhc QOWcI OlmOncy ndIn8lcdbVn_bOmlhc -
bOIO!OlhcI8OblIn8 bInd-ncWImQOIlnCc.mOncy lhcVOIIZlIOn
OlCQIlQIOhlmXImIZuOnndInlcIc8ldOnOl_u8lQyIOcOnlhc
mI_In8Ol8OCIclybulIc COn8lIlulIVclOIlhc CQIlI8lmOdc OlQIOduC-
lIOn.PnlI-bcmIlI8mInbOuI_cOI8-CQIlI8l8OCIclyI8 lhu8mndmcnD y
dI8lInCl hOm OlhcI lOD8 OldI8CIImInlIOn QIc_udICc nd llIIbu-
uOn. 1nbOuI_cOI8 8Wc 8 QIc-bOuI_cOI8 8OCIclIc8 OlhcI_IOuQ8WcIc
ndIc8ub_cCllO dI8COmInlIOnndlhcllIIbulIOnOlQIlICuImOdc8
OlbchV:OIOIbIIlIc8 [QIlICu1I8hIllInc88__Ic88IVc8CuQOlcnCy
clC.|. Lny In mOdcDnlI-bcmIlI8mIccentra/constimticerinci/eso]
sociegroected outuard"onto a orein"rou.hc QIO_cClIOn I8
8OnOlImlcdlOlhccCOnOmC8QhcIcImcICmluIChIClcI:8lIC8Ol
mOdcIn bOuI_cOI8 8OCIcly [InlccCluI8m mObIIly clC.| Ic llIIbulcd
OVcFhcm:n_y lO"lhc_cW8nd 8ImulncOu8ydcVucd8dcCdcnl.
Iny lhc "lOIcI_nnc88 lhl ChIClcIIZc8 _cW8 In nlI-bcmIlIC
lhOu_hl I8 COn8IdcIcd lO bc mndmcnm 8lndIn_ In OQQO8IuOn lO cV-
cIy COmmunIly. PuIkIn LcImny I8 M8O COn8IdcIcd lOIcI_nbulOuy
bcCu8c hc [c_cdy| bcOn_8 lO anotherCOmmumly. 1n nlI-bcmIlIC
lhOu_hl_cW8 Ic nOl8ImQyQcICcIVcd lO bc mcmbcI8 OlnOlhcI COm-
munIly bul8 COIIOdcI8 nd dc8lIOycI8 OlcVcIy COmunIly. 1lWcImIl
OuI8cVc8 lO lhccCOnOmy lhcnOnc CndcmOn8lIlcnlI-bcmIl:C 8lcIcO-
lyQc8In lcIm8OlVMuc-lhcOIy On dIhcIcnlcVc8.hc COnCcQlIOn Ollhc
'_cW:8hhuCk8lcICh8In_llcIcVcnlhc 8mc8ldVnl_cInlIdcnd
Qun_In_dcblOI8 InlO Cl8lIOQhcInhI8 IOc 8 "u8uIcIIcmIn8mnd-
mcnly[cVcnlhOu_hInlcIc8lI8InVOVcd|llhccVcOllhc8ImQcCIICu-
lIOnOlCOmmOdIlIc8ndmOncy.hclOICcOl Vuclk:n_OnulcOlIl8
OWn8mOncyWhIChCOnhOnl8COnCIclcbOIndu8cVucI8QIO_cClcd
OnlO"lhc_cW88lOICccmnlIn_hOmlhcm.1lI8lhcmI8undcI8lOOd
lclI8hChIClcIOl mOncylhlI8QcI8OnIZcdhcIc.
Ilhlhc COnlI8lmdc OulInQIlICuIby lhc `ZI8bclWccn"QIO-
duClIVcOIschaendem"[nOn-_cW:8h|CQIlnd"QI8Il:COIraen
dm"_cWI8h| CQIlWhcIcbylhc llcIhOd8 lhc lOImcIm 8lIn_c-
hOd lhIOu_hlhcbuk8ndbnnCImIkcl8lhc COnlIdIClIOn bclWccn
I 90 AN lNTKODUCTON TO KAKL MAKX'5 AI1A
8nIndcQcndcnlm8nIlc8l8lIOnOlV8ucInlhclOtmOlmOncy8ndCOnCtcIc
MOt I88hIllcd OnlO lhc cVc Ollhc lOl8QtOCc88 OlC8QIl8I8l tcQtOdu0-
lIOn. tI8thccaita/ tuh,InIl8mO8ldcVcOQcdlOtm88Inlctc8l-Dc8t1L_
C8QIl8WhICh I8Qct8On8IZcd.n8cClIOn8. I IlW88 8hOWnhOWInlctc8l8
thc8ccm1n_yOtI_In8huIlOlC8QIlMm8Xc8 cnlctQtI8cQtOhlInlOlhchuIl
OlcnltcQtcncutI8 8DOt 8nd lhctclOtctcduCc8 thc mnClIOnIn_ C8QIl8Il
lO 8Q8tlICu8t C8lc_OtyOl8DOtct. hcQct8OnMZ8lIOn8ddtc88cd8DOVc
DuId8 uQOn m8 8cmD8nCc. hc 8cQ8t8tIOn OlInlctc8l 8nd cnlctQtI8c
QtOhl I8 nOl C8cd InlO guc8tIOnDul lhc my8lctIOu8 QOWct OlC8QIlM lD
DtIn_8DOulInlctc8lI8. lI8"lhc_cW8WhOhOddctc8MOtct8Whcd-
ct C8QIlMI8l8 OtWOtXct8In "Inlctc8l DOnd8_c 8ndWhO 88 nOn-WOtXct8
8tc nOlh!n_Olhctlh8n "Q8t88Ilc8."
nlh8l"lhc_cW88tcdclcClcdlODclhctcMC8QIl8I8l8In8nlI-ocmIuC
lhOu_hllhcyC8nDcm8dctc8QOn8IDclOt8thc I8 8ndC8l8Cy8m8lh8l
C8QIlM8m _cnct8lc8. l lhc 88mc tImc lhcy 8QQc8t lO Dc 8-QOWctm:
lhtOu_h lhc D8nX8 8nd hn8nCIM m8tXcl8 lhcy dOmIn8lc DI_ Du8Inc88
WIlh thcIt mOncy lhcy C8n Duy dc Qtc88 [WhICh I8 8c_cdy QtOVcd Dy
cVcty ncW8Q8Qct8tlICc dItcClcd 8_8In8l 8nlI-ocmIlI8m] 8nd ulIm8lcy
lhcy InlucnCc QOIlIC8Q8tlIc8 8nd _OVctnmcnl8.l lhc 88mc l!mc"lhc
_cW8 8tc COn8Idctcd lO Dc CO8mOQOIl8n 8nd tOOlc88 Dul W!lh _OD8
COnncCuOn8 lO thcIt OWn QcOQc. hc8c lWO 8lctcOlyQc8lhc M -QOWct-
mnc88 Ol _cW8 8ndthcIttOOlc88nc88c8d8 lO 8 lhItd 8lctcOlyQcIn8nlI-
ocm1lIC lhOu_hl: lhc"_OD8_cWI8h COn8QIt8Cy[lOWhICh "_cWI8hCOm-
mun18mI8Ollcn 88O 8lltIDulcd].hc_cW8 8tc8CCu8cdOl8ccX1n_WOtO
dOmIn8lIOn8nd OlMtc8dyh8VIn_ COmc CO8c lO 8CCOmQI8hIn_lhI8_O8.
A lhtc8l8 cm8n8lIn_ hOm 8nOnymOu8 InCOmQtchcn8IDc QOWct8 nOW
ODl8In8l8Cc: thc lhtc8lOl"_OD8_cWty.
1OWcVctWth lhI8 _cnctMdclcDIn8lIOn Ol8nlI-ocmIlI8mnOlhIn_I
ycl88d8DOulWhclhct8nd lOWh8l cXlcnl8nlI-ocmIlI8mI8 8Clu8y W1dc-
8Qtc8d.hcl8Cl lh8l lhcQct8OnMIZ8l!OnOlC8QIl8I8ltc8lIOn8QtOV1dc88
tcc88clOtdcIndIVIdu888uhctIn_undctlhO8ctc8uOn8dOc8nOlncCc8-
88tIymc8n lh8l thO8cIndIV!du88 8W8y8 lOtlh8l tcc88c. ^OtWhcn
lhcy dO 8O dOc8 Il mc8n lh8l lhc 8Cl8 OlQct8On8IZ8lIOn MW8y8 h8Vc 8n
8nlI-ocmlICCh8t8Clct." lmu8lDccmQh88IZcdlh8l8llhc_cnctMcVcOl
8t_umcnt8tIOn In N8O8 0aita/,8l WmCh thc thOu_hl8 Oul!ncd MOVc
THE lETl 5Hl 5M OF 5OClAL KELATlON5
occur, no statement is possibe concerning the speci6c societa eects oF
anti-Semitism, or the extent oF the harm it inlicts.

10. 30/asse 0/assS@/e,and

Histotica/Deteinism
Many currents oF traditiona Maoism understood Mao's anaysis oF cap-
ita primariy as a cass anaysis, an examination oF the strugge between
bourgeoisie and proetariat. Most present-day conservatives and iberas
consider the concepts oFcass" and in particuar cass strugge" to be
ideoogicm," which is supposed to mean something ike unscienti6c."
As a rue, it is primariy eFtists who use these terms. However, tak oF cass
is not speci6c to Mao. Even beFore Mao, bourgeois historians spoke oF
casses and cass strugge, and David Rcardo, the most important rep-
resentative oF cassica poitica economy, pointed out the mndamentay
opposed interests oF the three arge casses oF capitaist societies (capitm-
ists, andords, and workers).
Casses and cass strugge constitute the centra point oF reFerence For
Marx's argumentabon primarily in the 0ommunistNanqsto( I 848). At
the very beginning oF that work, one 6nds the Famous sentence: The
history oF M hitherto existing socieq is the history oF cass strugges"
(MECW, :482). That which Mao saw as his own contribubon to cass
theory, he summarized in a etter to his mend Weydemeyer. Mao empha-
sizes that he m no way discovered the existence oF casses or cass strug-
ge, but that his contribution was 1. to show that de existenceo]c/asses
is merey bound up with cettainhistotica/hase inthedece/qmento]
toduction,2. that the cass stnggle necessariy eads to the dictatotshi
o]theto/etatiat,3. that this dictatorship itseF constitutes no more than a
transition to the a|o/itiono]a/c/asseand to a c/ass/esssocieg"(MECW,
39:2-5). The word dictatorship" as used here does not mean an
authoritarian Form oF rue, but rather simpy cass rue, independent oF
poitica Form. Points 2 and 3 sound very deterministic, history appears
driven by the cass struggeto move toward a particuar goa. One aso
6nds this conception in de 0ommunistNanqsto.
I 92 AN NTKODUCTON TO KAKL MAKX'5 AJ1A
In 0aita/,Marx writes repeatedy oF casses, but there is no attempt
at a systematic treatment or even a dehnition. OnIy at the end oF the third
voume does Mao begin a section on casses, and it is preciseIy here mat
the manuscript breaks od aFter a Few sentences. From this arrangement,
one can see that a systematic treatment oF casses is not the precondition
oF Mao's depiction, but rather shouId come at the end as its resuIt.
In the FoIIowing, we w not engage in specuIation as to what Matx
possiby intended to take on in the unwritten section on cIasses. Rather,
we shaI attempt to summarize what can be said about cIasses and cass
strugge on the basis oF what was said in previous chapters. The FoIowing
section thus depends strongy upon the conception oF the critique eF
poiticaI economy outined in this book.
Without cIaiming to have a my deveIoped cass theory, one c
speak oF sociaI cIasses in two distinct senses. In a structura sense, casses
are determined by their position in the sociaI process oF production. Tc
that extent, somebody can beong to a particuar socia cIass without
necessariIy being aware oF it. Distinct hom this are casses in a historica
sense. These are socim groups that in a particuIar historica situation
understand themseves to be casses as distinct hom other casses, the
members oF the cIass distinguish themseves by means oF a common
cIass consciousness."
In 0aita/, Marx uses the concept oF cass predominanty in the
stncturaI sense, such as when he estabishes that a particuar cass
reIation is at the Foundation oF the capita reIation: the owners oF money
and means oF production on the one hand, and the workers hee" in
a doube sense on the other hand [see section 4.3). Croups that are
neither bourgeois nor proIetarianprimariy the seIF-empIoyed as weIl
as artisans, smaI merchants, or smaI Brmersare reFerred to by Marx as
middIe-cIass or petit-bourgeois.
CIasses in a structuraI sense cannot be identi6ed with their respecuve
historicm maniFestations. A capitaist does not necessariy have a cigar
and chaudeur, nor can proIetarians be reduced to industria workers in-
habiting working-cIass housing estates. The dissoIution oF such stereo-
t_es is not evidence For the end oF casses, but merey For a chge in
their historica maniFestation.
THE FETl5Hl5M OF 5OClAL KELATlON5 I93
hc guc8lIOn Ol WhO bcOn_8 lO Wh8l C888 In 8 8ltuClut8 8cn8c 88O
C8nnOl bc dclctmIncd 8CCOtdIn_ lO lOtm8 QtOQctlIc8 8uCh 88 lhc cxI8-
lcnCc Ol 8 W8_c-tc8lIOn8hIQ bul Ony by lhc QO8IlIOn OCCuQIcd WIlhIn
bc QtOCc88 Ol QtOduClIOn. %Otc QtcCI8cy: Il C8n Ony bc dclctmIncd
8l lhc cVc Ol lhc "QtOCc88 Ol C8QIl8I8l QtOduClIOn 88 8 WhOc lh8l
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QtOduClIOn 8nd CItCu8lIOn I8 8tc8dy 888umcd [8cc bc_InnIn_ Ol Ch8Q-
lct 7). Pl lhI8 cVc Il I8 Cc8t lh8l lhc OWnct8hIQ Ot nOn-OWnct8hIQ Ol
mc8n8 Ol QtOduClIOn I8 nOl lhc Ony dcCI8IVc CtIlctIOn COnCctnIn_ C888
8mI8lIOn. hc Ch8Itm8n Ol lhc bO8td Ol 8 COtQOt8lIOn mI_hl lOtm8y
bc 8 W8_c-8bOtct bul In l8Cl hc I8 8 "mnClIOnIn_ C8QIl8I8l: hc dI8QO8-
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lIOn 8nd hI8 "Q8ymcnl I8 nOl b88cd uQOn lhc V8uc Ol hI8 8bOt-QOWct
bul On lhc QtOhl QtOduCcd. n COnlt88l m8ny lOtm8y 8cl-cmQOycd
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QtOcl8tI8n8 WhO IVc de ]actoltOm lhc 88c Ol lhcIt 8bOt-QOWct cxCcQl
lh8l lhI8 OCCut8 undct QOlcnlI8y WOt8c COndIlIOn8 lh8n undct 8 lOtm8
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Vcn Il lhc [8ltuClut8y dclctmIncd] QtOcl8tI8l Ot 8 8cClIOn lhctcOl
u8n8lOtm8 InlO 8 hI8lOtIC8 C888 8nd dcVcOQ8 8 C888 COn8CIOu8nc88 lhI8
dOc8 nOl 8ulOm8lIC8y mc8n lh8l lhI8 C888 COn8CIOu8nc88 COnlmn8 8 COn-
CcQlIOn Ol 8n cm8nCIQ8lOty lt8n8CcndcnCc Ol lhc C8QIl8 tc8lIOn. Vcn 8
C888-COn8CIOu8 QtOcl8tI8l I8 nOl 8ulOm8lIC8y "tcVOulIOn8ty.
n lhc C8QIlMI8l QtOduClIOn QtOCc88 bOut_cOI8Ic 8nd QtOcl8tI8l d-
tcCly COnhOnl Onc 8nOlhct lhc cxQOIl8lIOn Ol lhc QtOcl8tI8l ht8l m8Kc8
QO88Ibc lhc cxI8lcnCc Ol C8QIl8 88 8cl-V8OtIZIn_ VMuc. hc COnCtclc
I 94 AN lNTKODUCTlON TO KAKL MAKX'5 AI1A
conditions under which the vaIorization ol capitaI is consummated are
aIways contested. the vaIue olIabor-power must be sumcient lor normaI
reproduction. ExactIy what counts as nonn" depends upon what de-
mands the working cIass can enlorce (see section 4.4). )ust as contested
is the Iength ol the workday (section 5. I) and the respective conditions
under which the production process occurs (section 5.4). To that extent,
c/assst@/eaIways exists aIongside the capitaI reIation, whether or not it
is relened to as such. CIass consciousness can emerge in particuIar lrom
cIass struggIes, but this consciousness may appear in compIeteIy dierent
ways depending upon historicm condibons.
CIass struggIes do not onIy take the lorm ol a direct conhontation be-
tween bourgeoisie and proIetariat, they can aIso reIate to the state, whid
through its Iaws is supposed to codi or ehminate certain positions
(Iimitation ol the workday, protection against dismissaI, sociaI insurance,
etc.). However, cIass conict is not the onIy important sociaI cIeavage m
capitaIist socieq Conicts concerning gender roIes, raciaI oppression,
and the handIing ol immigration are aIso ol considerabIe importance lor
sociaI deveIopment.
TraditionaI Marxism ohen considered cIass conIicts to be the onIy
truIy important sociaI stnggIes. !taIian Operaismo," a radicaI Ieltist cur-
rent that emerged in the I90s, even regarded cIass struggIe as the dec-
sive lactor lor capitaIist crises. That the successmI imposition ol working-
cIass demands can intensi or trigger crises is indisputabIe. Even bour-
geois economists, such as adherents ol the contemporary neocIassicaI
schooI, point this out when mey cite aIIegedIy excessiveIy high wages,
excessiveIy strong trade unions, and (ecessiveIy worker-hiendIy) regaIa-
tion ol the Iabor market as the causes ol crisis and unempIoyment. For the
anaIysis ol the deveIopment ol capitaIism in a particuIar country during
a particuIar historicaI period, the extent and lorms ol cIass struggIe are
without doubt important 6ctors. However, at the IeveI ol depiction ol the
capitaIist mode ol production at its idem average" (meaning at the IeveI
ol depiction ol Man's 0aita/,see section 2. I ), the reduction ol crises
to cIass struggIe las short ol the decisive point ol Man's theory ol crisis.
!t was preciseIy Man's intent to show that there are crisis tendencies im-
manent to capitaI that Iead to crises compIeteIy independent ol the state
THE lET5H5M Ol 5OCAL KELATON5 !95
ol cIass stnggIe. That means that even il cIass struggIe were to come to a
compIete standstiII, crises wouId stiII occur.
CIass struggIes are initiaIIy struggIes uithincapitaIism. the proIetariat
6ghts about its conditions ol existence 0atotatiatlor higher wages,
better working conditions, the codihcation olIegm rights, etc. To that ex-
tent, cIass struggIes are not an indcator ol a particuIar weakness ol capitm
or even an impending revoIution, but rather the normaI movement pat-
ten lor conicts between me bourgeoisie and proletariat. The reasons
given lor demands rsed mso tend to remain within the hamework de-
Iimited by the ttinig]otmu/a: ua 'ust" wage is demanded, then such
a demand takes as its basis preciseIy the irrationaIity ol the wage lorm
(nameIy wage as the payment lor the vaIue ol Iabor and not as payment
lor the vaIue olIabor-power, see section 4.5) that Man diagnosed as the
loundation ol aII conceptions ol ustice on the part ol both wage Iaborers
d capitaIists. That means that when peopIe in bourgeois society, be
they workers or capitaIists, attempt to become cIear about their interests,
they initiaIIy do so within the letishistic lorms ol thought and perception
that dominate spontaneous everyday consciousness.
However, cIass struggIes aIso possess an independent dynamic.
They can Iead to processes olIearning and radicaIization in which the
capitaIist system as a whoIe is caIIed into question, preciseIy because
letishism is not impenetrabIe. FrimariIy in the earIy stage ol the impIe-
mentation ol modern industriaI capitaIism, struggIes Ied by the proIe-
tariat were olten met with bntaI state repression (lor exampIe, bans
on trade unions and strikes, the persecution ol activists) that mrther
intensihed processes ol radicaIization. Compared to the nineteenth
and earIy twentieth century, this direct repression has abated in many
countries, though it stiII pIays an important roIe in some. !n the Ieading
capitaIist countries today, there is a more or Iess strong Iegm reguIation
ol the lorms in which the direct conhontation between bourgeoisie and
proIetariat occurs. the cIass struggIe is aIIowed to take pIace, but with-
out endangering the system (lor exampIe, in Cermany the right to strike
and the right ol association are IegaIIy guaranteed, but so is the right ol
businesses to engage in Iockouts, sovereignty in coIIective bargaining is
aIso guaranteed, but poIiticaI strikes are lorbidden). That is, particuIar
I 90 AN lNTKODUCTlON TO KAKL MAKX'5 A1
lOIm8 Ol 8lIu__C IC lICC Ol dIICCl 8llC ICQIC88IOn whIC OlhCI8 IC
QCI8CCulCd lhC mOIC 8lIOn_y.
n lhC hI8lOIy Ol %IxI8m lwO l8c COnCu8IOn8 wCIC OllCn mdC
COnCCInIn_ C88 nd C88 8lIu__C. II8l Il w8 InlCIICd lhl C88 COn-
8CIOu8nC88 II8C8 8OOnCI OI lCI 8 dIICCl IC8ul Ol lhC 8IlulIOn Ol lhC
wOIKIn_ C88. bCCOnd Il w8 88umCd lhl lhI8 C88 COn8CIOu8nC88 mu8l
hVC mOIC OI C88 "ICVOulIOnIy COnlCnl. OI ml IC8On Il w8 n0l
unu8u lOI CVCIy InCIdCnCC Ol C88 8lIu__C lO bC InlCIQIClCd 8 lhC hI-
bIn_CI Ol n ImQCndIn_ ICVOulIOn hn COnlICl. l w8 88umCd lhl
In lhC COuI8C Ol CQIllI8m8 dCVCOQmCnl lhC QIOClIIl wOud dCVCOQ
InlO COn8CIOu8 ICVOulIOnIy C88. hCIC wCIC lCw 8IlulIOn8 In hI8-
lOIy In whICh 8C_mCnl8 Ol lhC wOIKIn_ C88 ClCd In ICVOulIOnIy mH-
nCI bul 8uCh 8IlulIOn8 wCIC nOl lhC IC8ul Ol _CnCI0 lCndCnCy Ol C
QIOClIIl dCVCOQIn_ InlO ICVOulIOnIy C88 bul IlhCI CxQIC88IOn8
Ol COnCIClC hI8lOIIC COndIlIOn8 [lOI CxmQC lhC O8l wI nd lhC O88
Ol C_IlImCy Ol lhC QICVIOu8y dOmInnl II8lOCIlIC-mIIlIy CIICC8 m
LCImny In 1J1o|. hC ICVOulIOnIy OIICnllIOn Ol QIl8 Ol lhC QIOC-
lIIl lhu8 0wy8 ICmInCd lCmQOIIy QhCnOmCnOn.
%ny %IxI8l "C88 ny8C8 COnCCInCd wIlh lhC QuC8lIOn Ol"wh0
bCOn_8 lO lhC QIOClIIl QIOCCCdCd hOm mC 88umQlIOn Ol nCCC8-
8Iy lIn8lOImlIOn Ol lhC QIOClIIl InlO ICVOulIOnIy C88. l w8 bC-
ICVCd lhl OnC COud dI8COVCI lhC "ICVOulIOnIy 8ub_CCl by mCn8 Ol n
nylIC dClCImInlIOn Ol lhC QIOClIIl. n8OlI 8 lhC IC QIOClIIn
wCIC nOl CCI bOul lhCII IOC lhCy 8hOud bC hCQCd On_mIny by
lhC "QIly Ol lhC wOIKIn_ C88 nd u8uy muUQC CndIdlC8 Cn__Cd
In bIllCI COmbl lOI lhC 8KC Ol CImIn_ lhl UlC.
LnC Cn 8O hnd lhC8C lwO L8C COnCu8IOn8 nd dClCImInI8lIC
COnCCQlIOn Ol hI8lOIy buIdIn_ uQOn lhCm In 8OmC Ol %m8 wOIK8
bOVC In lhC L0mmuntl 0nQl0QICCI8Cy lhC lCxl lhl COn8I8-
lCnly QyCd n ImQOIlnl IOC In lIdIlIOn %IxI8m nd In lhC VIIOu8
wOIKCI8 QIlIC8.
n L0Qtl0l %Ix I8 COn8IdCIby mOIC CulIOu8. mOwCVCI In lhl wOIK
lhCIC IC 8lI CChOC8 Ol lhC CIICI hI8lOIIC dClCImInI8m. Pl lhC Cnd Ol
lhC hI8l VOumC %Ix lCI8Cy 8KClChC8 Oul On lhICC Q_C8 lhC "mI8lOIIC
CndCnCy Ol LQIlI8l PCCumulIOn [lhC lIlC Ol lhC 8CClIOn|. II8l
THE FETl5Hl5M OF 5OClAL KELATON5 I 97
Mac summarizes the emergence oF the capitaist mode oF production as
me expropriation oF individual smal producers (sma peasants and arti-
sans). In the course oF the primitive accumuation," they ose ownership
oF the means oF production, so that they are compeled to sel their labor-
power to the capitaists. On the basis oF the capitaist mode oF production,
a mndamenta transFormation oF the production process is set in motion:
smml industry becomes large industry, concentration and centrmization
oF capita occurs, science and technology are systematicaly applied, the
means oF production are economized, and national economies are inte-
grated into the world market. Marx then continues:
On_ W:th thc COnst8nt dcCrc8sc In thc numbcr Ol C8Q:t8:st m8_-
n8tcs, WhO usurQ 8nd mOnOQO:zc 8 thc 8dV8nt8_cs Ol th:s QrOCcss
Ol tr8nslOrm8t:On, thc m8ss Ol m:scry, OQQrcss:On, s8Vcry, dc_r8d8t:On
8nd cxQO:t8tIOn _rOWs but WIth th:s thcrc 8sO _rOWs thc rcVO!t Ol thc
WOrkn_ C8ss, 8 C8ss COnst8nty :nCrc8s:n_ :n numbcrs, 8nd tr8:ncd,
un:tcd 8nd Or_8nIzcd by thc Vcry mcCh8n:sm Ol thc C8Q:t8:st QrO-
Ccss Ol QrOduCt:On. hc mOnOQOy Ol C8Q:tm bcCOmcs 8 lcttcr uQOn
thc mOdc Ol QrOduCt:On, Wh:Ch h8s OurIshcd aOn_s:dc 8nd undcr It.
hc Ccntr8:z8t:On Ol thc mc8ns Ol QrOduCtIOn 8nd thc sOC:8:z8t:On
Ol8bOur rc8Ch 8 QOInt 8t Wh:Ch thcy bcCOmc :nCOmQ8t:b!c W:th thc:r
C8Q:t8:st :ntc_umcnt. h:s Intc_umcnt :s burst 8sundcr. hc knc Ol
C8Q:t8:st Qr:V8tc QrOQcrty sOunds. hc cxQrOQr:8tOrs 8rc cxQrOQr:-
8tcd. (0aita/,I .929)
In this oumne, the development oF the proetariat into a revolution-
aclass and the overthrow oF the nle oF capita appear to be an inevi-
tabe process. And in a Footnote, Mac quotes tbe 0ommunistNanqsto,
where the Folowing is said about the bourgeoisie: Its Fah and the victory
oF me proletariat are equaly inevtable" [0aita/,I :930).
In the earIy workers' movement, such messages were eagerIy accept-
ed, given that one experienced reguary the exclusion and humiliation
brought about by the very bourgeois socieg whose end was predicted.
In the Socia Democratic press beFore the First Word War, and later in
me Communist press, this three-page excerpt hom the 6rst voume oF
98 AN lNTKODUCTON TO KAKL MAKX'5 AJJ
0aita/W88 hcQucnly QtIntcd 8nd CIlcd COn8Idct8Dy InucnCIn_ uc
QctCcQtIOn Ol thc COnlcnl Ol %8C8 8n8y8I8.
mOWcVct thc8c QtcdIClIOn8 8tc nOt D8CXcd uQ Dy %8tx8 OWn tc-
8c8tCh. hc cxtcnl tO WhICh lhc "mOnOQOy Ol C8QIl8 DcCOmc8 8 lcltct
uQOn lhc mOdc Ol QtOduCtIOn WhICh h88 OutI8hcd 8On_8Idc 8nd undct
Il I8 nOt 8l 8 ODVIOu8. h8t lhc ltuIt8 8nd 8OCI8 CO8l8 Ol C8QIl8I8t dcVc-
OQmcnl 8tc 8O cxttcmcy uncQu8y dI8ltIDutcd I8 nOt 8n ImQcdImcnl tO
C8QIl8I8l dcVcOQmcnl Dut t8thct~88 %8tx8 OWn 8n8y8I8 m8Xc8 Cc8t~
It8 InttIn8IC Q8llcO Ol mOVcmcnt. Pnd lhc Cl lh8t lhc QtOct8tI8t cxQc-
tIcnCc8 8 numctIC InCtc88c 88 8 tc8ul Ol thc ImQO8IlIOn Ol thc C8QIl8I8l
mOdc Ol QtOduCtIOn 8nd In 8 Cctlmn 8cn8c I8 "unIhcd 8nd "8ChOOcd Dy
8t_c Indu8lty [lO lhc cxtcnt lh8t lhc QtOcl8tI8l h88 lO Ot_8nIzc QOItIC8y
8nd In lt8dc unIOn8 tO COnlInuc cxI8tIn_ 88 8 QtOcl8tI8l| I8 ltuc Dul lhc
Idc8 th8t lhI8 IncVIl8Dy c8d8 tO thc COn8tItulIOn Ol 8 tcVOutIOn8ty C888 I8
In nO W8y 8 COn8cQucnCc Ol%8tx8 8n8y8I8. Ln thc COntt8ty 0aita/Ol-
lct8 thc dct8I8 lOt undct8l8ndIn_ Why tcVOulIOn8ty dcVcOQmcnt8 8tc 8O
t8tc 8nd Why lhc "tcVOt In lhc Q8888_c QuOlcd 8DOVc dOc8 nOt c8d Im-
mcdI8lcy tO 8 8ltu__c 8_8In8t C8QIl8I8m: WIth lhc 8n8y8I8 Ol lclI8hI8m
lhc Itt8tIOn8Ily Ol lhc W8_clOtm 8nd thc ttInIly lOtmu8 %8tx 8hOWcd
hOW thc C8QIl8I8t mOdc Ol QtOduCtIOn _cnct8lc8 8n Im8_c Ol It8cl m
WhICh 8OCI8 tc8lIOn8hIQ8 8tc tcIhcd 8nd Whctc C8QIl8I8l tc8lIOn8 Ol
QtOduClIOn 8QQ8tcnty 8tI8c hOm lhc COndIlIOn8 Ol 8 QtOduClIOn 8O lh8t
Ony Ch8n_c8 WIlhIn C8QIt8I8t tc8lIOn8 8tc QO88IDc. A tcVOutIOn8Q dc-
VcOQmcnl C8n 8tI8c Il I8 nOl ImQO88IDc Dul It I8 8nylhIn_ Dut IncVt8Dc.
1n thc Q8888_c cxCcQlcd 8DOVc %8tx dtcW COnCu8IOn8 8mOunlIn_
tO 8 8Ott Ol hI8tOtIC8 dctctmInI8m th8t 8tc nOl _u8tIhcd Dy hI8 C8tc_OtI-
C8 dcQIClIOn. O lh8l cxlcnl lhc Q8888_c I8 mOtc 8n cxQtc88IOn Ol hOQc
th8n 8n8y8I8 tcVOutIOn8ty cnlhu8I88m ltIumQhcd OVct lhc COO 8ChO8t.
mOWcVct thc dcQICtIOn Ol thc C8QIt8I8l mOdc Ol QtOduCuOn It8cl I8 nOl
dcQcndcnt uQOn lhc8c Quc8lIOn8Dc COnCu8IOn8. 0aita/8lu Ohct8 lhc
Dc8l COntDDulIOn lO undct8t8ndIn_ thc C8QIl8I8t mOdc Ol QtOduClIOn.
ul hOW 8nd Whclhct thI8 mOdc Ol QtOduClIOn w tc8Ch Il8 cnd C8n-
nOl Dc dclctmIncd in adoance.hctc 8tc nO Cctl8InlIc8 hctc mctcy 8
8ltu__c WIlh 8 COnCu8IOn lh8t I8 uQ lOt _t8D8.
I I . bttC nU LQit
YhCn %m lOOK uQ COmQIChCn8IVC CIIlIQuC Ol QOIlIC CCOnOmy l
lhC Cnd Ol lhC 1obU8 hC 8O InlCndCd lO wIIlC bOOk On lhC 8llC. %m
QnnCd lOl Ol 8Ix bOOK8: On CQIl ndCd QIOQCIly w_C-bOI UC
8llC lOICI_n lIdC nd lhC wOId mIKCl. n lCD8 Ol In_C Ol COnlCnl lhC
lhICC VOumC8 Ol 0aita/QQIOxImlCy COmQII8C lhC hI8l lhrCC bOOK8.
hC QnnCd bOOK On lhC 8llC w8 nCVCI wIIllCn In 0aita/lhCIC IC
Ony I8OlCd IClCICnCC8 lO lhC 8llC. P lCw _CnCI CCmCnl8 Ol lhCOIy
Ol lhC 8llC Cn bC lOund In lhC lCI wOIK8 Ol Ln_C8 lhC AntiDhting
[1o1o| nd bOVC a Te0tiginso]theFami(,PtioatePtqett, andthe
State[ ioo+|. n lhC lwCnlIClh CCnluty lhCIC w8 bIOd dCblC mOn_
%mI8l8 COnCCInIn_ 8llC lhCOIy bul Il dId nOl Cd lO COmmOn undCI-
8lndIn_ Ol lhC 8llC. ' n lhI8 ChQlCI wC w nOl llCmQl lO OhCI COm-
QCl "%mI8l lhCOty Ol lhC 8llC. lhCI wC w llCmQl lO CmQh8IzC
On lhC b8I8 Ol lCw mndmCnlM lOQIC8 Ul _In8l lhC bCK_IOund Ol
lhC CIIlIQuC Ol QOIUC CCOnOmy n lCInUVC lO bOuI_CO8 lhCOtIC8 Ol
lhC 8llC I8 nOl lhC Ony QOInllhC QOInl I8 CIIlIQuC Ol QOIlIC8. y Ul
wC mCn nOl CIIlIQuC Ol CCIlIn QOICIC8 bul IlhCI CtIlIQuC Ol lhC
8llC nd QOIUC8 8 8OCI lOIm8 lhl I8 8 QIlICuI mOdC8 Ol mCdIUn_
8OC COhC8IOn.
200 AN lNTKODUCTlON TO KAKL MAKX'5 AJ1A
11. 1 TheStateAnInsttumento]theRu/ing0/ass
Above a|I, two points addressed by Mac and LngeIs considerably
shaped subsequent theoreticaI discussions concening the state. 6rst,
the phrases base" and superstructure," and second, the conception of
the state as an instrument of the ruling class. In the I 859 Preface to 3
0ontti|utiontothe0tiqueo]o/itica/Econom,Mac summarizes m
general view of socie on about one and a half pages. Marx identi6es
the economic structure of socie as the reaI foundation, on which rises
a legal and polibcaI superstructure" and emphasizes that neither legd
reIations nor poIiticaI forms couId be comprehended whether by them-
selves or on the basis of a so-caIIed general development of the human
mind, but that on the contrary they originate in the material conditions of
life" (MLCW,29.263, 262).
Thus were the phrases base" and superstructure"hequenHy
used by Marxists though rarely by Macintroduced into the debate. In
tradibonal Marxism and Marxism-Lemnism, the terse statements of this
Preface are regarded as one of the foundationaI documents ofhistoricaI
materiaIism." The conclusion was oen drawn that the economic base"
essentiaIly determines the politicaI superstructure" (state, law, ideology)
and every phenomenon of the superstructure" must have a correspond-
ing cause in the base." This simple reduction of things to economic
causes is caIIed economism.
Many discussions among Marxists revoIved around the question as
to what etent the base" actua|Iy detenines the superstructure." In
the attempts to extrapoIate de6nitive scholarIy resu|ts hom this Preface,
it was oen overIookd that Mac was initia|Iy onIy concened with dis-
tancing himseIf from the discussions of the state predominant in his time,
which regarded the state as independent hom aII economic reIations. In
contrast, Mac emphasizes that the state and law cannot be grasped by
themselves, but must always be examined against the background of eco-
nomic reIations. With this contour it is not even foreshadowed how the
analysis of the state shouId actuaIIy Iook.
The economistic interpretation of the terms base" and superstruc-
ture" was welI suited to a characterization of the state originating primar-
5TATE AND CAPTAL 20
iywith EngeIs.At the endoFthe 0tigin o]theFami( (I 884),Enges
makes aFewgenera observations concenng the state. Heemphasizes
mat me state did notexistinahuman societies.Notuntithe emer-
genceoFsociacIasseswithantagonisticinterests,whentheseantagonis-
ncintereststhreatento tearsocietyapart,isapowerseemingystand-
ingabovesociety"necessary.Thispowerthatemergeshomsocietybut
whichincreasingIytakesonaIiFeoF itsownisthestate(MECW,26:269).
However,thestateapparentystandsonyabovecasses,inFact,itisthe
stateoFthemostpowerm,economicaIydominantcass,whichthrough
the medium oFthe state,becomes aso mepoliticady dominant cass"
(MECW,26:27I). EngeIsinitiaIIyunderstandsthestateasapowero-
osedto society. This overIaps with thegenerm,cooqmmunderstand-
ingoFthestateasaninsututionpossessingamonopoyontheegitimate
use oFForcein aparticuarsocieg: exceptincases oFseF-deFense,no-
bodymayempoyvioenceoutsideoFappointedstateorganssuchasthe
poIice orthe miIitary. EngeIs mso emphasizes that this institutionis at
me same time an instrumentoFtheruingcasseveninademocratic
repubicwithuniversmsumage,whichaccordingtoEngeIsrests upon
variousindirectmechamsmsoFrue:thedirectcorruptionoFomciaIs"
butasoontheaIiancebetweengovernmentandstockexchange"(asa
resuItoFthenationadebt,thestateisincreasingIydependentuponthe
6nanciamarkets).EvenuniversmsumagedoesnotstandinthewayoFan
instrumentaizationoFthestate,asongastheproetariatisnotyetripe
toemancipateitseF"andregardstheestabishedsociaorderastheony
possibeone(MECW,26:27I-72).
When the proet+riatuInmatey liberates itseFand estlishes aso-
ciaistjcommunist society, then,according to EngeIs,socimcassesw
asodisappearnotinoneFeswoop,butgraduaIy.Sincethestateomy
emergedasaForcestandingovesocietyasaresutoFthecIassdivide,
mestatew disappearaIongwithsocimcasses:thestatediesout"ac-
cordingtotheFamousFormuanonintheAnti-Dhting(MECW,25:268).
Theconceptionthatthestateisprimariyaninstmentinthehands
oFtheeconomicnlingcIasswasnotonIydominantinthevariousMarxist
debates,radica-democraticbourgeoiscriticsregardedateasttheexist-
ing state as aninstnmentoFdirectcassrue.Accordingto the caims
202 AN lNTKODUCTlON TO KAKL MAKX' 5 A1A
madebymodemstates,thestateisneuna/withregardtosociaIcIasses.
imperativeistheequaIityolcitizensbeloretheIawandtheobIigationol
thestatetoservethecommonweIlare.Whoeverconceivesolthestatepri-
mariIyasaninstrumentolcIass ruIe thereloreusuIyattemptstoprove
thattheactuaIactivityolthegovernmentandthemodeolmnctioningol
stateorgansruncounterto thiscIaimolneutrahty.
SuchaconceptionhasacertainempiricaIpIausibiIity:onecanaIways
hndexampIesolIawsthatprimariIybenehttheweII-ohorcapitaIistIobby
groupsexercisingIeg (or evenihegaI)inIIuence ontheIegisIauvepro-
cessand the poIiticaI activity olthe goverment. !tisindisputabIe that
particuIarhactions olcapitaIattempttouse the stateasaninstrument,
andsometimessucceedindoingso.Thequestioniswhetherawareness
olthisstateolahairsimpIiesthatonehasaIreadygraspedthemndamen-
taIcharacteristicsolthemodembourgeoisstate.
UsuaIIy statemeasures existthatbenehtthepoorerstratumsolthe
popuIation.Exponents olinstrumentaIistconceptionolthe statein-
teqretsuchmeasuresasmere concessions,ameansolpaciingtheop-
pressedandexpIoited.
0titiqe thestateisunderstoodbyexponentsol thisconceptionpri-
mariIyasexosute: theintentis toprove thattheneutraIityolthestateis
mereIyIusory.ThiscrinqueolthestateappIiesprimariIytotheparticuIm
a/icationolthestate,butnottothestateandpoIincsassociaIlorms.
!n poIiticaI practice, the instrumentaIist conception ol the state
usuaIIy Ieads to the demand lor an a/teatice use olthe state: the
cIaim olcommon weIlare shouId hnaIIybetaLen seriousIy and thein-
terests olother cIasses more strongIy taLen into consideration. The
question olhow this can be achievedis subjecttovarying appraisaIs.
RevoIutionary" tendencies emphasize thatstatepoIiciesinthe reaI"
interestolthemajorityare onIypossibIealterarevoIution.Therelore,
exactIyhowrevoIutionarypoIiticsinnonrevoIutionaryperiodsshouId
IooL remains uncIear. Relormist"tendencies,onthe other hand, be-
Iieve that under capitaIist reIations a diherent poIitics, a compromise
between cIasses,ispossibIe.CorrespondingIy, better"poIiciesareex-
pectedhom theparticipation olIeltistpartiesingovernment.The he-
quentIyresuItingdisappointmentsarethenjustihedbysomerelormists
5TATE AND CAFlTAL 203
s D UDOttUDtcy DcCcssty COst O COmQtOmsc whctcs thc mOtc
tdC tcOtmsts CtItCzc thc dsQQODtD_ QOCcs D QUcstOD Dd t-
UbUtc thcm tO thc CCOmmOdtOD Ot "bctty O thc cdcts O ctst
QttIcs. Ot UDCOmmOny thc DcXt Qtty s OUDdcd D Otdct tO "tcy
dO thD_s dIctcDty. hc dc tht thctc COUd bc sttUCtUt tcsODs Ot
thc CtIt!Czcd CCOmmOdtOD s dstc_tdcd.
11. 2Fo-Deteinationso]theBoutgeouState
Ru/eo]Lau, %qateState,Democtaq
mDdmcDt QtObcm s tcd UQ wIth thc "DstDmcDtst CODCcQtOD
O thc sttc: t ObsCUtcs thc QUtUVc dctcDCcs bctwccD Qtc-bOUt_cOs
Dd bOUt_cOs sOC tctIODs Dd ODy cmQhszcs thc dVsIOD O sOC-
cty DtO dctcDt sOC Csscs. D Dyss O thc sttc mUst bc COD-
CctDcd wth thc seci]c] by mcDs O whCh thcsc Csscs tctc tO
ODc DOthct Dd tcQtOdUCc thct Css tct!OD.'
CODOmC Dd QOtC Dc wctc DOt yct scQttc D Qtc-bOUt_cOs
sOCctcs: thc tcUOD O dOmDtIOD O sVchOdcts Ot cUd Otds ws
tht O tcUOD O QctsOD tUc OVct "thct sVcs Ot scts whCh (hOm
OUt CODtcmQOtty QctsQcCtIVc] smUtDcOUsy CODsttUtcd tctIODshQ
O QOUC QOwct s wc s tctODshQ O cCODOmC cXQOttOD.
D bOUt_cOs-CQtIst sOCcty cCODOmC cXQOttOD Dd QOtC
Dc dVct_c. hc OwDct O Dd Ot mcDs O QtOdUCtOD dOcs DOt hVc
jUdCty QOCc Ot mItty mDCtOD CODDcCtcd tO thc QtOQctty _tDtD_
hm QOItIC QOwct. CODOmC dOmDUOD thctcOtc DO OD_ct hs Qct-
sOD ChtCtct thc IDdVIdU w_c-bOtct s DOt QctsOD1y bOUDd tO
QttCUt CQtst. Ncmbcts O bOUt_cOs sOCcly cDCOUDtct cCh Othct
OD mc mtkct s c_y "cQU Dd "hcc OwDcts O QtIVtc QtOQctty
cVcD sOmc Ony OwD bOt-QOwct Dd Othcts OwD thc mcDs O QtOdUC-
UOD. NtX tcmtks stCstCy ID 0aita/:
hc sQhcrc ol CIrCu!atIon or CommodIty cxChan_c, WIthIn Whosc bound-
arIcs thc sac and QurChasc olabour-QoWcr _ocs on Is In laCt a vcry dcn
ol thc Innatc rI_hts ol man. t Is thc cxCusIvc rcmm ol rccdom QuaIty,
204 AN lNTKODUCTlON TO KAKL MAKX'5 A1A
toQctly 8nd cnlh8m. tccdom,DcC8u8c Dolh Duyct 8nd 8c!!ct ol8
CommodIly,!clu888yol!8Dout-QoWct,8tcdclctmIncdon!yDylhcItoWn
hcc W:!!. hcy Contt8Cl d hcc gct8on8,Who 8tc cgu8! Dclotc lhc 8
3hcIt Conlt8Cl I8 lhc hn8! tc8u!l In WhICh lhcIt_oInlW hnd8 8 Com-
mon !c_8 cXQtc88Ion. gu8!Ily, DcC8u8c c8Ch cnlct8 Inlo tc!8lIon WIlh
lhc olhct, d WIlh 8 8ImQ!c oWnct olCommodIlIc8, 8nd lhcy cXCh8n_c
cguIV8!cnl lotcguIV8!cnl. toQctty, DcC8u8cc8Ch dI8Qo8c8 on!y olWh8l
I8hI8oWn.ndcnlh8m,DcC8u8cc8Ch!ooK8on!ylohI8oWn8dV8nl8_c.
hc on!y lotCc DtIn_In_ lhcm lo_cthct, 8nd QultIn_ lhcm Inlo tc!8lIon
w:lh c8Ch olhct, I8 lhc 8c!h8hnc88 lhc _8In 8nd Uc QtIV8lc Inlctc8l ol
c8Ch.(0aita/,I:280)
TheeconomicreIationshipolexpIoitationanddominationisconsu-
tutedbytheagreementbetweenlreeandequcontractupartnersmd
canbe dissoIvedatanytime.TheexpIoitedconsenttotheirownexpIci-
tation becausein asocietyolprivate properqtheyhaveno other pos-
sibiIitylorsecuringtheirIiveIihood.Thewage-IaborerisnotpersonaIIy
dependentuponaparticuIarcapitaIist,buthemustseIIhisIabor-power
toacapitaIistinordertosurvive.
ThereIationoldominationbetweenthecIassesgrowingoutolprc-
duction in bourgeois society is compIeteIy diherent homM pre-bour-
geoissocienes.Forthatreason,thepoIiticaIlormolbourgeoissocieq,the
|outgeoustate,exhibitsits ownparticuIarcharacterisncs.
!n pre-bourgeois societies, peopIe conhonted one another at the
outsetasIegaIIyunequaI. Rights and obIigationsweredehnedbytheir
respective state or sociaI status, economic and poIiticaI reIations cl
dominationweredirectIyintertwined.UndercapitaIistsociaIreIations,
ditectpoIiticaIlorceisnotnecessarylorthemaintenance oleconomic
expIoitation.itis sumcientlorthestateasalorcestandingabovesoci-
etytoguaranteethataIImembersolsocietybehaveIiLeounets o]ti
catetoett.However,thestatemustbeadiscrete,indeendentlorce,
sinceithastocompeIa//membersolsocietytorecognizeone another
asprivateowners.
As the/o]/au,thebourgeoisstatetreatsitscitizensas heeand
equaIowners olprivate property. A citizens are subordinatedto the
5TATE AND CAFlTAL 205
sameawsandhavethesamerightsandobigations. ThestatedeFends
meprivatepropertyoFeverycitizen,regardessoFthatperson'simpor-
tance. This deFense consists primardy in theFactthatthecitizens are
obigatedtorecognizeoneanotherasprivateownerstheappropriation
oFpropertyisonyaowedbymutuaagreement,asarue,oneonyac-
quirespropertybyendowent,inheritance,exchange,orpurchase.
ThestatedoesinFactconductitseFasaneutrainstancewimregard
to its citizens,this neutraityism nowaymereyaniusion.Rather,it
is preciseyby means oFthis neutraity that the state secures the Foun-
dations oFcapitaistreations oFdominationandexpoitation. Thede-
FenseoFpropertyimpiesthatthosewhopossess noreevantproperty
beyondtheirownabor-powermutseItheirabor-power.Tobeeto
appropriatetheirmeansoFsubsistence,theymustsubmittocapita.This
makes the capitaist process oFproductionpossibe and reproducesin
tunthe cass reauons thatareitsprecondition.Theindividuaaborer
emerges6omtheprocessoFproductionexactyasheenteredit.Thea-
borer'swageisessentiaysumcientForhis(orhisFamiy's)reproduction.
InordertoreproducehmseFanew,hemustsehisabor-poweragmn.
Thecapitaistasoemerges6ommeproductionprocessagainasacapi-
taisthisadvancedcapitaretunstohimtogetherwithaproht,sothat
hecanevenadvanceitagaininagreaterquantity.ThusthecapitaIistpro-
ductionprocessdoesnotjustproducecommodities,itasoreproduces
thecapitareationitseIF(see0aita/, I: chapter23).
However, the Factthat the reproduction oFthe capita reation to a
argeextentoccursateastinthedeveopedcapitaistcountrieswith-
outditectstatecoercion(theForceoFthestateisawayspresentindirecty
asathreat) is arecenthistoricadeveopment.Whentheprimitiveac-
cumuation"andtheworker6eeinadoube sense" (see section4.3)
stineededtobeproduced,"thingsweredierent.AsMshowsin
det usingthe expe oFEngand,the statehad tocontinuousyand
directyintervenetoencourageandenabecapitaIistproduction.Initiay
the state did this by supporting andords expeIingpeasants 6om the
andthattheatterhadcuuvatedForaongtime(sheepraisingwasmore
pro6tabeFormeandords),andthenbyForcinguprootedandvagabond
neoneintothestrictdiscinIineoFcanitaistworknaces.Thisisnottosay
206 AN !NTKODUCT!ON TO KAKL MAKX' 5 AIA
that various govcrnmcnts to!!owcd a gcncraI p!an to introducc capitsm,
sincc such mcasurcs had comp!ctc!y dihcrcnt causcs. Howcvcr, modcm
capitaIism was onIy ab!c to cstab!ish itsc!t as a rcsu!t ot thcsc vio!cnt mca-
surcs. t took a whi!c tor a working c!ass to dcvc!op "which by cducation,
tradition and habit !ooks upon thc rcquircmcnts ot that modc ot produc-
tion as sc!t-cvidcnt natura! !aws.""' n!y thcn is thc "si!cnt compusion o
cconomic rc!ations" sumcicnt tor thc "domination ot thc capita!ist ovcr
thc workcr"-so that cocrcivc statc torcc is on!y ncccssary in cxccptionm
cascs [0aita/, I 899).lndcr dcvc!opcd capita!ist rc!ations, thc maintc-
nancc ot thc c!ass rc!ation is assurcd prccisc!y bccausc thc statc, as thc
mIc ot!aw trcats its citizcns as hcc and cqua! owncrs ot propcrty rcgard-
!css ot thcir socia! c!ass, dctcnding thcir propcrty and thcir dca!ings d
propcrty owncrs."
Morcovcr, thc bourgcois statc is not ]ust thc m!c ot!aw, mcrc!y cstzb-
!ishing a torma! tramcwork and sccuring adhcrcncc to this hamcwork
by mcans ot its monopo!y on thc usc ot torcc. t a!so guarantccs thc gcn-
craI matetia/conditions tor thc accumu!ation ot capit, insotar as thcsc
conditions cannot bc cstab!ishcd by individua! capita!s in a capitaIist
way, sincc doing so wou!d not yic!d a sumcicnt proht. Among thcsc con-
ditions, which vary or arc ot varying importancc in dihcrcnt historicm
pcriods, arc thc provision ot a corrcsponding inhastmcturc [primay
transportation and communication), rcscarch and cducationaI taciIibcs,
as wc!! as a stab!c currcncy through thc ccntra! bank. "" Jhc statc mus
acts as an "idca! pcrsonihcation ot thc totaI nation capita!" [idee/t
0esamtkaita/ist),as ngc!s ca!!cd it [MCW, 2:2bb). Jhrough its po!-
icics, thc statc to!ows thc capitist geneta/intetestot thc most prohtabc
accumuation possib!c. Jhis geneta/intetestis not a!ways idcntica! wd
thc particuar intcrcsts ot individua! hactions ot capita! or an individuz!
capitist, which is why thc statc somctimcs acts in opposition to thcsc
particuar intcrcsts-tor that vcry rcason, thcrc must bc a sc!t-containcd
instancc indcpcndcnt ot spccihc capita!s. t coursc, thcrc arc a!ways
cxamp!cs ot govcmmcnts tavoring individua! capits, but that is not
csscntiaI aspcct ot thc statc. or that vcry rcason, such acts ot tavoritism
arc a!so dcnounccd as a "scanda!" in bourgcois circ!cs that arc in no way
critica! ot thc statc and capita!.
5TATE AND CAFTAL 207
hc c88cntI8 QrcCondIlIon ol C8QIl8I8l 8CCumu8tIon I8 lhc cXI8lcnCc
Ol w8_c-8Dorcr8. hcIr rcQroduCtIon I8 m8dc Qo88IDc Dy mc w8_c Q8Id
Dy C8QIl8. or 8n IndIVIdu8 C8QIL lhc w8_c _u8l IKc oCCuQ8lIon8
hc8lh 8nd 88lcly mc88urc8| Con8lIlulc8 8 Co8l l8Clor lh8l mu8l Dc mInI-
mIZcd In ordcr lo oDl8In lhc hI_hc8l Qo88IDc Qrohl undcr lhc Qrc88urc
Ol ComQclIlIon. 1l C8QIl8 doc8 nol cnCounlcr rc8I8l8nCc In lhc lorm ol
8lron_ lr8dc unIon8 or 8ImI8r 888oCI8lIon8 lhcn cXCc88IVcy on_ worK-
In_ lImc unhc8lhy 8nd d8n_crou8 worKIn_ CondIlIon8 8nd 8l8F8lIon
w8_c8 wDc ImQo8cd lh8l QrcVcnl lhc rcQroduClIon ol 8Dor-Qowcr: 8
lcndcnCy low8rd lhc dc8lruCtIon ol8Dor-Qowcr I8 lhu8 InlrIn8IC lo C8QI-
l88 drIVc [ImQo8cd Dy ComQclItIon| lor 8n InCrc88In_y _rc8lcr V8orIZ8-
Don. hc IndIVIdu8 C8QImI8l mI_hl rcCo_nIZc lhI8 8nd cVcn rc_rcl Il Dul
hc C8nl do muCh lo Ch8n_c lhIn_8 Il hc wI8hc8 lo 8VoId D8nkuQlCy. bo
th8l C8QIla doc8 nol dc8lroy Il8 oD_cCl ol cXQoIl8tIon lhI8 oD_cCl mu8l
Dc QnlcClcd Dy ComQu8ory 8l8lc 8w8. Ac_8 worKd8y [8cc 0aita/, I
Ch8Qlcr I 0),rc_u8lIon8 ConCcrnIn_ oCCuQ8lIona hcalh 8nd 88lcly 88
wc 88 8 c_8 mInImum w8_c [or 8l8lc wcl8rc mc88urc8 lh8l mnClIon 88 8
mInImum w8_c cVc|8 ol whICh wcrc hr8l mQo8cd lhrou_h worKcr8
8tru__c8-ImIl C8QIl88 Qo88IDIIlIc8 lor VaorIZ8uon Dul 8cCurc lhcm In
mc on_ lcrm.
hc 8l8lc doc8 nol ony QrcVcnl lhc dc8lruClIon ol8Dor-Qowcr In thc
lorm ol lhc ueqatestate,Il 88o _u8r8nlcc8 Il8 rcQroduClIon In8ol8r 88 lhI8
I8 nol Qo88IDc 8ocy 88 8 rc8ul ol lhc w8_c ComQcn88uon nc_olI8lcd Dy
worKcr8 8nd C8QIl8I8l8. hrou_h V8Dou8 8oCI8 In8ur8nCc QoICIc8 lhc
8l8lc 8cCurc8 8Dor-Qowcr 8_8In8l lhc mnd8mcnm rI8K8 Il I8 cXQo8cd lo
In 8 C8QIl8I8l cConomy: lhc Qcrm8ncnl In8DIIly lo 8c aDor-Qowcr 88 8
rc8ul ol 8n 8CCIdcnl or od 8_c [8CCIdcnl In8ur8nCc 8nd od-8_c Qcn8Ion8
rc8QcCtIVcy| 8nd lhc lcmQor8ry In8DIIly lo 8c aDor-Qowcr 88 8 rc8ul
Ol Inc88 or uncmQoymcnl [hcalh In8ur8nCc 8nd uncmQoymcnl In8ur-
anCc 88 wc 88 wcl8rc|.
hc mc8n8 lor 8l8lc 8oCI8 wcl8rc mc88urc8 orI_n8lc In lhc C8QIl8
8CCumu8lIon QroCc88 rc_8rdc88 ol whclhcr mc8c mc88urc8 8rc hn8nCcd
Dy 8oCI8 In8ur8nCc ConlDDulIon8 or l8Xc8. AQorlIon ol lhc lom 8oCI8
V8uc I8 u8cd 8o m8l thc m888 ol 8urQu8 V8uc I8 rcduCcd. or mc In-
mvIdu8 C8QIlaI8l mI8 dcduCtIon Con8lIlulc8 8 rc8trICtIon _u8l IKc mc
208 AN NTKODUCTON TO KAKL MAKX'5 AI1A
QtOlcClIVc tc_u8lIOn8mcnlIOncd 8DOVc. O lh8lcXlcnl, lhc 8l8lc 88 Wc
l8tc 8l8lc VIOl8lc8 lhc dItcCl Inlctc8l Ol c8Ch IndIVdu8 C8QIl8 In m8XI-
mum V8OtIZ8lIOn 8nd lhctclOtc cnCOunlct8 COttc8QOndIn_tc8I8l8nCc.l
I8 lhu8 hcgucnlylhc C88c lh8l 8l8lc 8OCI8Wcl8tc mc88utc8 COmc8DOul
888tc8ul Ol8ltu__c8 Dylhc8DOtmOVcmcnl.hcWcl8tc 8l8lc I8 lhctc-
lOtc hcgucnlyundct8lOOd 88 8n "8ChIcVcmcnl Ollhc 8DOtmOVcmcnt,
8 COnCc88IOn lO lhc WOtXIn_ C888 [In Otdct lO Q8CI] Il]. l I8 In l8Cl lhc
C88c lh8l lhc IVc8 OlW8_c-8DOtct8 8tc COn8Idct8Dy c88Ict8ndmOtc 8c-
CutcWId 8l8lc 8OCI8 Wcl8tc mc88utc8 lh8nWIlhOul lhcm. 1OWcVctIlI
nOl lhc C88c lh8l 8uCh mc88utc8 8tc Onc-8Idcd Dcnchl8 lOt lhc lOtCc8 O
8DOtlh8l88 I8OCC88IOn8y888ctlcd8tc8dyCOn8lIlulclhcht8l8lcQu
lt8n8CcndIn_C8QIl8I8m.8lhctlhcy88lc_u8td lhccXI8lcnCc OlWOtkct
In 8 m8unct COn8I8lcnlWIlh C8QIl8I8mn8mcy88uage/a|otets.ln dc
Onc h8ndIlI8 In lhc Inlctc8l OlC8QIl8 lh8l lhO8c WOtXct8 WhO8c 8DOt
C8nnOlDcQtOhl8Dy u8cd lOt8lcmQOt8tyQctIOdOllImc~88lhctc8ulO
Inc888CCIdcnlOtlhc8CXOldcm8nd8tc8lIm8nl8IncdIn8n"Otdct-
yCOndIlIOn 8mcn8Dc lO C8QIl8. ln lhc Olhct h8nd8l8lc 8OCI8Wcl8tc
mc88utc88tc u8u8lyCOnlIn_cnluQOnlhc88cOl8DOt-QOWct[OtlhcWI-
In_nc88lO8clOnc88DOt-QOWct]:Dcnchl88uCh88uncmQOymcnlIn8ut-
8nCc Ot Od-8_c Qcn8IOn8 dcQcnd uQOn lhc QtcVIOu8 W8_c 8 COttc8uOn
lh8l 8tc8dy mnClIOn8 88 8 mc8n8 OldI8CIQInIn_ WOtXct8. n lhc C88c Ol
QcOQc Qhy8IC8ly 8nd mcnl8y 8Dc lO WOtX lhc Q8ymcnl OluncmQOy-
mcnl In8ut8nCc Ot Wcl8tc I8 88O COnlIn_cnl uQOn lhcIt 8ClIVc cOtl 0
8clhcIt8DOt-QOWct. llhI8I8 nOllhc C88cthc tcduClIOnOt8u8Qcn8IOn
OlDcnchl8I8u8cd88 8mc8n8OldI8CIQuncDy8l8lc8_cnCIc8.hcDcnchl8
OllhcWcl8tc 8l8lclhctclOtc,dO nOlhccOnchOmlhc COmQu8IOnlO8c
Onc88DOt-QOWct.
AdcCI8IVc 8hOtlCOmIn_ Ollhc COnCcQlIOn Ollhc DOut_cOI8 8l8lc 88
8n In8ltumcnl In lhc h8nd8 Ollhc C8QIl8I8l C888 I8 lh8l IlQtc8uQQO8c8
8"tuIn_ C888 lh8l I8 DOlh unIhcd 8nd C8Q8Dc Ol8ClIn_ 88Wc 88 8
Cc8tydchncdC888Inlctc8llh8l8ImQynccd88nIn8ltumcnllOtIl8Im-
Qcmcnl8lIOn.^cIlhct888umQlIOnI88cl-cVIdcnl.hc"cCOnOmICtun_
C888In C8QIl8lI8m COn8I8l8 OlC8QIl8I8l8 WIlh WIdcy V8tyIn_ cVcn OQ-
QO8In_Inlctc8l8. hctc I8 8 COmmOnInlctc8lIn lhc m8Inlcn8nCc Ollhc
C8QIl8I8l mOdc OlQtOduClIOn Dul Illhc 8y8lcm I8 nOl lhtc8lcncd Dy8
5TATE AND CAFTAL 209
revoIutionary movement, then this interest is lar too generaI to sere as
a guideIine lor normaI" state action. The interests that determine the
state's activity are not ust sitting around waiting to be impIemented,
as is assumed by the instrumentaIist conception. Rather, these interests
must hrst be constituted.
AII ol the state's measures are contested, whether the issue is me con-
crete organization ol the legaI system, the securing ol the materiaI condi-
tions ol accumuIanon, or the type and extent ol weIlare state benehts. As
a nIe, every measure brings disadvantages lor some capitaIists (some-
bmes even lor aIl capitaIists) and advantages lor others (or lewer disad-
vantages than lor the rest). Advantages expected-but not certain~over
the Iong term are pitted against immediate disadvantages. The issue ol
what the generaI capitaIist interest consists in, which chaIIenges the state
shouId react to and how-aII mat has to constantIy be ascertained. State
poIicies presuppose a constant ascertainmento]thegenera/interestand
the measureslor its impIementation.
Not uncommonIy, there are diherent possibiIities lor impIementing
the capitaIist generaI interest. A/tcaticestrategiesare possibIe, so that
state poIicies cannot be reduced to the simpIe impIementation ol ne-
cessities ol the capitaIist economy. The relerence to the economc pur-
pose behind a state measure, popuIar in Marxist circIes, is insumcient
as an expIanation. The reIations ol power between indivdum hactions
ol capitaI, cunning aIIiances, inuence within the state apparatus and
in the pubIic media and simiIar lactors are ol decisive importance lor
the impIementation or prevention ol individuaI measures or even entire
strategies. Sometimes resuIts that are even harmlul lor the generaI capi-
taIist interest are brought about. Lobbying, competing lor inuence, and
so on is not a vioIation ol the nIes, but preciseIy the way in which the
search lor consensus occurs.
State poIicies do not onIy presuppose a consensus concerning the
capitaIist generaI interest within the most important hactions ol capitm.
Such poIicies have to be /egitimized in reIation to the Iower cIasses, a
certain IeveI ol consent is aIso required hom them. OnIy then is it guar-
anteed that the Iower cIasses do not disturb the reproduction ol capitaI-
ist reIations through their sociaI pracbce (and such disturbances do not
2 I 0 AN !NTKODUCTlON TO KAKL MAKX'5 AI1A
hIslcmcI_cWIlhQOIlIC8ymOlIV8lcdIcsIsl8nCc|. nQ8IlICu8IlhcOWcI
C8sscs musl COnscnllO lhc s8CIIhCcs dcm8ndcd Ollhcm OI 8lc8slQ8s-
sIVcy 8CCcQl lhcm. OI lhc csl8DIshmcnl Olc_IlIm8Cy 8nd lhc m8Inlc
nmCc Ollhc "dIsCIQIncd mOdc OlDch8VIOI Ollhc WOIKcI 8nd CIlIZcn
IlIs nOl sumCIcnl lO sImQy "sc suCh QOICIcs `c lhc InlcIcsls Ol
lhc OWcI C8sscslhcIIInlcIcsls uithinC8QIl8Ismmc8nIn_ lhcII InlcI-
csls In 8 DcllcI cXIslcnCc 8s W8_c-8DOIcIsmusl 8l c8sl Dc l8Kcn InlO
COnsIdcI8lIOn lO Uc cXlcnl lh8l lhcy dO nOl "cXCcssIVcy InlcIlcIcWIlh
lhc C8QIl8Isl _cncI8 InlcIcslIn suCCcssm 8CCumu8lIOn. hc cXlcnl lO
WhICh lhcsc InlcIcsls 8Ic slIOn_y 8nd sk y 8dVOC8lcd lhus Q8ys 8
IOc In hOWmuChInhucnCclhcII8dVOC8lcs h8Vc InQOIlIC8 Q8IlIcslhc
sl8lc8QQ8I8luscs8ndlhcmcdI8.
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8Ic lhcIclOIcI8lhcIlhccXCcQlIOnIndcVcOQcdC8QIl8IslCOunlIIcs.
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8s8COnscnsusCOnlOImIn_lO C8QIl8Isl nOIms 8IcunIVcIs8hccccClIOns
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VOlc Oul unQOQu8IQOIlICI8ns 8ndQ8IlIcs 8nd ccClncW Oncs.hc ncW
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lhc Od Onc C8n m8InlaIn 8_8Insl CIIlICs lh8l Il h8s Dccn "ccClcd 8nd
lhcIclOIc '8nlcd Dy lhc m8_OIIly Ollhc QOQu8lIOn. hIs "c_IlIm8Cy
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5TATE AND CAF!TAL 2 \ I
satisFaction oF the popuanon concenng the impositions oF poincs is
not just oered a timey saFety vent by the possibiity oF reguar eections,
it is aso channeed, in that it is directed against indivdua poiticians
and parnes and not the poitica and economic system behnd their poi-
cies. Conespondingy, m the bourgeois pubic sphere, a poinca system
counts as doctaticwhen it oers the eective possibmty For voting out
a government.
The idemization oF democracy one encounters in parts oF the eFt,
which measures reay exisnng democratic institutions agmnst the idem
oF a citizen who shoud decide by vote about the greatest possibe num-
ber oF issues, mso disregards the socia and economic context oF de-
mocracy, just ike the mainstream oF poitica science mennoned above.
Aongside the dierent variants oF democratic systems (with strong presi-
dents, strong pariaments, etc.) there is no rem" democracy that must
6nmy be introduced, under capitaist reations, the existing democratic
system is aready the rea" democracy (whoever sees rea" democracy
in mutipe, easiy initiated pebiscites shoud take a ook, For exampe, at
Switzerand, and see iF that eads to great changes).
The state and the pubic sphere constitute, as is oFten emphasized,
an arena For dierent interests, in a democratic system, this can be seen
rather ceary. However, this arena is not a neutra paying hed. Rather,
this paying 6ed structuray aects debates and the poitica practice re-
suting 6om them. State poicies are in no way competey determined by
the economic situation, but they are aso not an open process in which
anything is possibe. On the one hand, conIicts within and between
casses as we as the reative strength and abdity oF individua groups
to hande conict, etc., pay an important roe, so that dierent deveop-
ments are constanty possibe. On the other hand, poitics must aways
accommodate the genera capitaist interest in successm accumuation.
Parties and politicians might be quite dierent in terms oF their back-
grounds and vaue systems, in their poicies, particuary when they are
in govenment, they genermy orient toward this genera interest. This
is not because they are bribed" by capita or are otherwise somehow
dependent (athough that can aso be the case), but rather because oF
the way parties assert themseves and the worHng conditions oF gov-
2 2 AN NTKODUCTION TO KAKL MAKX'5 A1A
ernment-processes and conditions that even eFtist parties who aim to
govern cannot eude.
tn order to be eected president or obtn a majority as a party, various
mterests and vaue systems have to be addressed. In order to be taken se-
riousy in the media (an essentia precondition For becoming we Lown),
reaistic," reaizabe" proposas must be made. BeFore a party can even
come cose to governing, it usuay goes through a process oF poiticm
education over the course oF many years, in which it increasingy adjusts
to necessities," that is, to the pursuit oF the capitaist genera interest in
order to have greater eectora success. tF a party hnaly gets into goven-
ment, it has to take care to obtain the necessary consent. It is now oF
particuar importance that the poitica room For maneuver" is decisivey
dependent upon hnancia possibiities: these are determined on the one
hand by the eve oF t revenue, and on the other by the eve oF expendi-
tures, oF which socia weFare benehts are among the arger items. In the
case oF a successm accumuation oF capita, U revenues are high and
weFare expenditures For the unempoyed and the poor reativey ow. In
periods oF crisis, t revenues decine and socim expenditures increase.
The materia Foundation oF the state is thus direcdy connected to the ac-
cumuation oF capitm, no government can get past this dependency. A
government can increase its hnancia room For maneuvering by borrow-
ing, but this increases the 6ture hnancia burden. Additionay, a state
can on!y obtain credit without probems as ong as mture tax receipts,
6om which the credit shoud be paid back, are certain, which in turn
presupposes again a successm accumuation oF capita.
The promotion oF accumuanon is not just the seF-evident aim oF
poiticians, it is aso a truism among broad sectors oF the popuation that
our" economy needs to perForm wel, so that '~e" can beneht 6om it.
Sacrihces" that intiaUy beneht omy the capitmists are wilngy bone in
the expectation oF better times to come. The Former Socia Democratic
chanceor oF Cermy, Hemut Schmidt, Fonuated this memoraby in
the I970s. The prohts oF today are the investments oF tomorrow and the
jobs oF the day aer tomorrow." Criticism usualy arises in the popuation
not as a resut oF the impositions oF poicies and the promotion oF poi-
cies, but due to the absence oF the expected resuts.
5TATE AND CAFlTAL Z
cIc 8_8In Wc scc lhc IccV8nCc Ollhc lclIsmsm lh8l slHCluIcs lhc
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lIInIlylOImu8lhc C8QIlaIslmOdcOlQIOduClIOn 8QQc8Is lO Dc 8 "n8lu-
I8lOImOllhcsOCI8QIOCcssOl QIOduClIOn[sccCh8QlcI I0). L8QIl8Ism
8QQc8Is lO Dc m cndc8VOI WIlhOul MlcIn8lIVc InWhICh C8QIla 8nd 8-
DOIQ8ylhcII"n8luI8IOcs.hc cQcIIcnCc OlIncQu8IlycXQOIl8lIOn
8nd OQQIcssIOn lhcIclOIc dOcs nOl IncVIl8Dy c8d lO 8 CIIlIQuc OlC8QI-
l8Ism Dul lO 8 CIIlICIsm OlCOndIUOns uithinC8QIl8Ism: "cX8__cI8lcd
dcm8nds OI8n "un_usl dIsuIDulIOn OlWc8lh 8Ic CIIlICIZcdDulnOllhc
C8QIlausllOund8lIOn OllhIs dIslDDulIOn. L8DOI 8nd C8QIl8 8QQc8I lO Dc
lhc cQuMyncCcss8Iy8nd lhcIclOIc cQuyIcsQcClcdDc8IcIs Ollhc QIO-
duClIOn OlsOCI8 Wc8lh. _8Insl lhc D8CK_IOund Ollhc lIInIly lOHu8
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hIs `hOcOlC8QIlM8nd 8DOIcnCOmQ8sscdDy lhc sl8lc Islhcn
lO 8V8QIn_ cXlcnlIn lhcIndIVIdu8COunlIIcsInVOKcd8s lhc nation,8s
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8n 8c_cd "COmmOn hIslOIy 8nd CuluIc.hIs n8UOn8 unIlyIsusu8y
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lcIn8 cncmIcs.hc sl8lc 8QQc8Is 8s lhc QOIlIC8 m8nIlcsl8lIOn Ollhc
nation: lhc "Wc-DcIn_ Ollhc n8lIOn musl Dc Ic8IZcd Dy lhc sl8lc dO-
mcslIC8y8sWc8s lhIOu_hlhcIcQIcscnl8lIOn Ollhc"nalIOn8InlcIcsl
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_cncI8 InlcIcsl sInCc lhIs Is lhc Ony COmmOn Wcl8Ic QOssIDc undcI
caita/utsocia/te/anons.
11. 3ot/dNatketandImetia/ism
n8llcmQlIn_lO 8ChIcVc UchI_hcslQOssIDccVcOlVaOIIZ8lIOnC8QIl8
h8s 8 lcndcnCy lO lI8nsCcnd n8lIOn8DOIdcIsDOlh m lhc QuICh8sIn_ Ol
lhc ccmcnls OlCOnslanl C8QIl8 [mOsl nOl8Dy I8Wm8lcII8s| 8s Wc 8s
Inlhc s8c OlIls hnIshcd QIOduCls.%8rlhusWIOlc OlUcWOIdm8IKcl
lh8l Il Is "lhc VcIy D8sIs 8nd IVIn_ 8mOsQhcIc Ollhc C8QIl8Isl mOdc Ol
2 I 4 AN NTKODUCT!ON TO KAKL MAKX'5 A1A
QtOduClIOn[0aita/,3:205).hC C8QIl8I8l_CnCt8InlCtC8lQut8uCdby
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ImQCtI8I8m.C w nOWbtIClydC8WIlhmI8 lhCOty.
l lhC bC_Inmn_ Ol lhC lwCnuClh CCnluty V8tIOu8 N8tXI8l 8ulhOt8
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by 8 lCWhtm8WhCtCbylhC 8t_C8lIndu8ltI8 hD8mCt_CWIlh lhC 81_C
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lhC 8l8lC. bInCC lhC mOnOQOIC8 C8n nO On_Ct hnd 8umCICnl QO88IbII-
lIC8 lOtV8OtIz8lIOnWIlhInlhCItOWn COunltIC8lhCy8tC COnhOnlCdwIlh
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OllhC ImQCtIMI8l COunltIC8 8QQtOQtI8lC8 8 8t_C QOtlIOn OllhC 8utQu8
V8uC OlOlhCtCOunltIC8WhCtCbyImQCtI818lC8QIlM8m Obl8In8 8"Q8t8-
8IlIC Ch8t8ClCt. bInCC mOnOQOy C8QIl8I8m I8 O8In_ VIl8Ily [88 WC 88
InhIbIlIn_ lCChnIC8 QtO_tC88|Il h88 8 lCndCnCy lO "8l8_n8lIOn 8nd dC-
C8y. mQCtIMI8lC8QIl8I8mI8lhu88"dCC8yIn_8nd "dyIn_C8QIl8I8m.
bInCC ImQCtI8I8l CXQ8n8IOn I8 QtOmOlCd m8Dy by mC dCVCOQCd
C8QIl8I8lCOunltIC888ltu__ClOtlhCdIV8IOnOllhCWOtdtC8ul8.LCnIn
tC_8tdCdlhCtIt8lOd8t888nInCVIl8bCtC8ulOllhI88ltu__C.1CnIn
CXQ8InCdlh8lImQCtI8I8lQOICIC88ndulIm8lCylhCW8tWCtC81_Cy8C-
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8yCtOllhC WOtKIn_ C888 [lhC "8DOt 8tI8lOCt8Cy| W88 "COtHQlCdby
8h8tIn_InlhClHIl8 OlImQCtI8I8m.
5TATE AND CAFTAL Z 1 O
n lhIs VIcW OllhIn_s ImQcII8Ism I s nOl_usl 8 lyQc OlQOIlICs lh8l
COudInQIInCIQcDcCOmQclcydIhcIcnlDulI8lhcI8n cCOnOmICncCcs-
sIlylh8lIcsuls hOm lhc lI8nsIlIon lIOm COmQclIlIVc C8QIl8Ism lO mO-
nOQOyC8QIl8Ism. LcnInlhus COnCcIVcd OlImQcII8Bsm 8s 8 ncCcss8Q
sl8_c In lhc dcVcOQmcnl OlC8QIl8Ism 8s lhc hn8 sl8_c OlmOnOQOy
C8QIl8Ism. OInCc lhcIc COud Dc nO mIlhcI sl8_c OldcVcOQmcnl 8llcI
mOnOQOyC8QIl8IsmLcnInIc_8IdsImQcII8Ism8s lhchI_hcsl8nd hn8
sl8_c OlC8QIl8IsmWhICh C8nOnycndInW8IOIIcVOulIOn.
7
n LcnIns lhcOIy OlImQcII8Ism lhcIc 8Ic 8 numDcI OlcXlIcmcy
QIODcm8lIC QOInls. IIsl Ol8 Is lhc 8c_cd lI8nsIlIOn lIOm COmQclI-
lIVc lO mOnOQOy C8QIl8Ism. hc _IOWlh OlIndIVIdu8 C8QIl8s 8nd 8n
InCIc8sIn_y sm8cI numDcI Ol C8QIl8s dOmIn8lIn_ 8 sIn_c DI8nCh
[lIcnds Dy lhc W8y lh8l 8Ic nOl 8l 8 unIVcIs8y dOmIn8nl 8nd lh8l
sOmclImcscVcn IcVcIsc|cd LcnIn lO COnCudc8 Ch8n_cInlhc C8QIl8-
Isl mOdc OlsOCI8IZ8lIOn: IlW8s nO On_cI V8uc Dul I8lhcI lhc WI Ol
lhc mOnOQOIsls lh8l W8s suQQOscdy dOmIn8lIn_ lhc cCOnOmy. %OIc
OI css suCCcsslu 8llcmQls 8l Q8nnIn_ Dy IndIVIdu8 C8QIl8s OI CO-
usIOn DclWccn C8Ilcs 8Ic mIsl8Kcn lOI 8 lund8mcnl8 Ch8n_c lO lhc
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sl8lc Is IcduCcd lO 8 mcIc InslIumcnl Ol lhcsc mOnOQOIsls 8nd Im-
QcII8IsmIs COnCcIVcd Ol8s lhc dIIcCl ImQcmcnl8l1On Ollhc InlcIcsls
OlIndIVIdu8 C8QIl8Isls. In8y lhc Ch8I8ClcIIZ8lIOn OlImQcII8Ism8s
"Q8I8sIlICIsQIODcm8lICnOlOnyduc lO lhcmOI8IslICundcIlOncDul
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8n8ysIs ulIm8lcy h8s 8mOsl nOlhIn_ lO dO WIlh %8IXs CIIlIQuc Ol
QOIlIC8 cCOnOmy.
Ol Ony lhcOIclIC8y Dul 8sO cmQIIIC8y LcnIns lhcOIy OlImQc-
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In lhc 8DscnCc OlQIOhl8DIIly In lhc C8QIlMIsl CcnlcIs sInCc lh8l WOud
2 0 AN NTKODUCTlON TO KAKL MAKX'5 AJ1A
mcn lhctc COudnl hvc Dccn ny CQIl cxQOtlcd lO Olhct Ccnlct8.
c8Idc8 8uCh CQIl cxQOtl W8 nOl 8cCutcd Dy lhc ImQctII8l QOICIc8
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dhctc lO LcnIn8 lhcOty I8 COnhOnlcd Dy lhc QtODcm lhl lOt lhc !nIlcd
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OWcvct llcmQl8 cxI8l lO lOtmulc lhcOty Ol ImQctIMI8m Oul8Idc
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lry Qtc88utc _In8l Olhct COunltIc8 8 imetia/m, lhcn ImQcrI818m
I8 nO On_ct QtlICut 8l_c In lhc dcvcOQmcnl Ol CQIlI8m tlhct
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Pl lhc InlctnlIOn cvc mulIQICIly Ol 8llc8 Ol WIdcy vryn_
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tIOnDy 8t8tc88tc8ct8_a:n8nd8_8:n.
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88 lOt lhc C8QIt8I8tWOtd 8y8lcm 88 8 WhOc, dI8tInCtIOn8 C8n Dc m8dc
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mnd8mcnt8COmmOn8ItIc8 DclWccn thc8c QctIOd8 th8tm8KcIlQO88IDc
lOtOnclO8Qc8KOl C8QIl8I8m[8cc8cCtIOn2. I |.ctIOdIZ8UOnthu88QQIc8
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8 QctIOdIZ8tIOn 8hOud nOt Dc mI8l8Kcn [88 hcgucntyh8QQcncd In thc
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2 I 8 AN NTKODUCTON TO KAKL MAKX'5 AJ1A
8hn8cnd-Whcmct8"hI_hc8t8t8_cOlC8QIt8I8mOtcVcn8"ncCc888ty
tt8n8ItIOntO8OCI8I8m Ot COmmunI8m.
Ln thc Olhct h8ndC8utIOn I8 C8cd lOtWhcn thc 888cttIOn I8 m8dc
th8t"nOWItI88m8llctOl8COmQctcyncWCOmQclcydIctcntC8QIt8-
I8m. hcQhcnOmcn8th8th8Vc Dccn dI8Cu88cdmlhc88llcWyc8t8undct
thc C8tChWOtd "_OD8IZ8tIOndOnOl COn8ululc 8COmQclcDtc8KIn thc
dcVcOQmcnlOlC8QItaI8mt8lhctthcya1cmctcythcmO8ttcCcnlQh88c
In lhc CtI8I8-QtOnc ImQcmcnl8tIOn Olmc C8QIt8tc8lIOn On thc WOtd
m8tKct and thc 8CCOmQ8nyin_ QtOlOund tt8n8lOtm8uOn8 In thc 8OCI8
8ndQOIuC8tc8tIOn8OlIndIV1du8 COunttIc8.
Z. LOmmUni8mbOCiCty CyOnU
tC LOmmOUity NOnCy nU tC bttC
%8Cs QOIlIC8 8ImW8s lO OVcICOmc C8QIl8Ism.sOCI8IslOtCOmmu-
nIsl sOCIcly [%8r 8nd n_cs uscd lhcsc lcIms InlcICh8n_c8Dy In lhc
1bUs| In WhICh QIIV8lc QIOQctly In lhc mc8ns OlQIOduClIOn 1s 8DO-
Ishcd 8nd QtOduClIOnIs lhcIclOIc nOOn_cIC8IIIcdOulWIlhlhc_O8 Ol
QIOhl m8XImIZ8lIOn Ws lO l8c C8QIl8Isms Q8Cc. %8r dId nOl dt8ll
8n cXlcnsIVcCOnCcQllOIsuCh8sOCIcly sOlh8lcVcnlOd8ym8ny Ic8dcts
Ol0aita/8Ic sutQtIscdWhcnlhcyhndOullh8lIldOcs nOlCOnl8IncVcn
8 sm8 Ch8Qlct 8DOul COmmunIsm. OWcVcI 8lV8IIOus QOInls [DOlh In
0aita/8s Wc 8s In c8tIcI WIIlIn_s| %8IX 8llcmQlcd lO dI8W COnCu-
sIOns hOm hIs 8n8ysIs OlC8QIlMIsm COnCcDIn_ _cncI8 dclcImIn8lIOns
OlCOmmunIsm.OInCcsuChCOnCusIOnsdcQcnduQOnlhcIcsQcClIVccVc
Ol8n8ysIs Uctc 8tc wIdcyV8IyIn_ QIOnOunCcmcnls lh8ldO nOl hOW-
cVcI8dduQ lO 8unIhcd COnCcQlIOn.
hcIcc wO wIdcsQtc8dCOmQCcs OlCOnCcQuOns Ic_8tdIn_Wh8l
COnslIlulcsCOmmunIsmIn%8IX'sscnsc.OWcVcIncIlhcth8smuChlOdO
WIlh lhc CIIlIQucOlQOIlIC8 cCOnOmy OudIncd m lhcQtcCcdIn_ Ch8QlcIs.
0ommunismasanida/.cIcIlIs8ssumcdlh8lCOmmunIsmmc8ns
8 sOCIcly 8s Ilshou/dDc lOIclhIC8Ic8sOns: QcOQc shOud nOlcXQOIl
ZZ AN NTKODUCTON TO KAKL MAKX'5 AI1A
8ndOQQIcss OlhctQcOQc lhcyshOudnOlsccKlO_8Inm8lcII88dV8n-
l8_c Dul I8lhcI shOW sOId8IIly 8nd hcQmncss clC. n %8rs c8Iy
WIIlIn_s Onc hnds 8 lcW QIOnOunCcmcnls lh8l C8n Dc InlctQIclcd In
lhIs dIIcClIOn. _8InslsuCh 8COnCcQlIOnIlIs OUcn OD_cClcd lh8l"hu-
m8ns 8Ic nOl 8s _OOd 8s COmmunIsm IcguIIcslh8l lhcy 8W8ys sccK
QcIsOn8 8dV8nl8_c 8nd lh8l COmmunIsm lhcIclOIc C8nnOl mnClIOn.
Ln lhc OlhcI h8nd QcOQc WhO 8Ic clhIC8y OI IcI_IOusy mOlIV8lcd
hnd 8 QOInl OlCOnl8Cl hcIc sInCc %8rs OslcnsIDc clhICs sccm lO Dc
slIOn_y COmQ8lIDc WIlh LhtIslI8n clhICs lOI cXaDQc. Olh sIdcs dO
nOl COnsIdcI lhc l8Cl lh8l In 0aita/,%8r dOcs nOl CIIlICIZc C8QIla-
Ism lOI mOI8 Ic8sOns [scc scClIOn Z.Z|. 8lhcI In lhc COuIsc OlhIs
8n8ysIshcdcmOnslI8lcslh8lmOI8COnCcQlIOns8IcsOCI8yQIOduCcd
[scc scClIOn 4.3).l lhus lOOWs lh8l mOI8s Ony cXIsl 8s lhc mOIas
Ol8Q8IlICu8I sOCIcly DulnOl8s 8 unIVcIs8mOI8IlyOnc C8nmc8suIc
IndIVIdu8 sOCIclIcs8_8Insl.
0ommunism 0 thenationa/izationo]the means o]toduction.hc
8DOIlIOnOl QIIV8lcQIOQcIlyIn lhcmc8ns OlQIOduClIOnIshcIc cgu8lcd
wIlh n8lIOn8IZ8l1On 8nd sl8lcQ8nnIn_Ollhc cCOnOmy. _8InsllhIslhc
OD_cClIOn Is I8Iscd lh8l sl8lc Q8nnIn_ Is l8I lOO CumDcIsOmc 8nd sOW
8ndInCudcs 8lcndcnCylOW8Id8ulhOIIl8II8nIuc. Lhcn lhc"Icm yC"
IslIn_ sOCIaIsmOllhc OOv1cl \nIOn Is Ic_8Idcd 8s 8mOIc OIcss dIIcCl
ImQcmcnl8lIOn OllhIs COnCcQlIOn OlCOmmunIsm. hc CO8Qsc Ollhc
OOVIcl \nIOnIs lhcnl8Kcn8s 8n ODVIOus QIOOllOI lhcIncVIl8Dcl8IuIc
OlCOmmun1sm. Lnc hnds dcm8ndslOIlhc n8lIOn8IZ8lIOnOlQIOduClIOn
DOlhIn lhc 0ommunistanqsto8sWc8sLn_cssAnti-Dhtingbut
Ony 8s 8 hIsl mc8suIc 8nd ncVcI 8s 8 Ch8I8ClcIIZ8lIOn OlCOmmunIsm.
8lhcI lhc mc8ns OlQIOduClIOn shOudQ8ss InlO lhch8nds OlsOCIcly
8nd lhcsl8lculIm8lcy"dIcsOul[%LLYZJ:Zb|.
n lhc lcW mndamcnl8 ODscIV8lIOns COnCcDn_ COmmunIsm lh8l
%8rmaKcs On lhc D8sIs Ollhc CIIlIguc OlQOIlIC8 cCOnOmy lWO lhIn_s
8Ic Cc8I. Fitst, lh8l COmmunIsl sOCIcly Is nO On_cI D8scd uQOn cX-
Ch8n_c. Olh lhc cXQcndIluIc Ol8DOI-QOWcI In QIOduClIOn 8s Wc 8s
lhc dIsltIDulIOn OlQIOduCls [hIsl In lhcII usc 8s mc8ns OlQIOduClIOn
8nd suDsIslcnCc lhcn 8s lhc dIsltIDulIOn OlCOnsumQlIOn _OOds 8mOn_
lhc IndIVIdu8 mcmDcIs OlsOCIcly| OCCuI In 8 m8nncI COnsCIOusy 8nd
COMMUNl5M5OClETY BEYOND THE COMMOD!TY 2 2 I
mclhOdICm y Ic_u8lcd Dy sOCIclynOlDy lhc m8IKcl OI lhc sl8lc. Ol
Ony C8QIl8 [scl-VaOIIZIn_ Vauc| Dul 8sOlhc COmmOdIly 8nd mOncy
nO On_cI cXIsl.Second,%8tX Is nOl Ony COnCcDcdWIlh 8dIslIIDulIOn
lh8l Is QuanlIl8lIVcy dIhcIcnl hOm lh8l undcIC8QIl8Ism [lhIs QucslIOn
OldIslIIDulIOn W8s cmQh8sIZcd In lI8dIlIOn8 %8IXIsm| Dul QIIm8tIy
WIlh lhcemanciationhOm 8 sOCIMncXus U8l l8Kcs On8Ilc OlIls OWn
8nd ImQOscs IlscluQOn IndIVIduas 8 8n 8nOnymOus COmQusIOn. Ol
OnylhcC8QIl8 Ic8lIOn 8s 8 sQcCIhC Ic8lIOn OlcXQOIl8UOnlh8l_cncI-
8lcs D8dand InscCuIcWOIkn_ 8ndIVIn_ COndIlIOns lOI lhc m8_OIIly Ol
lhcQOQu8lIOnshOudDc OVcICOmc lhclclIshIsmlh8l"8ll8ChcslO lhc
QIOduCls OlaDOt 8s sOOn 8s lhcy8Ic QIOduCcd 8s COmmOdIlIcs shOud
asODc8DOIshcd.OOCIacm8nCIQ8lIOnlhcIDcI8lIOnhOmscl-QIOduCcd
8ndlhcIclOIc_I8luIlOusCOnslIaInlsIsOnyQOssIDcWhcnlhcsOCIaIc8-
lIOns lh8l _cnct8lc lhcV8IIOus lOIms OllclIshIsmh8Vc dIs8QQc8Icd. Lny
lhcn Cm lhc mcmDcIs OlsOCIclylIuyIc_u8lc and OI_8nIZc lhcII sOCIa
8haIIs themse/ces8s8n "8ssOCI8lIOn Olhccmcn [0aita/, I . I I!) . %8r
IsCOnCcIncdWIlhlhIsCOmQIchcnsIVccm8nCIQ8lIOn8ndnOlmcIcyWIlh
lhcQucslIOnOldIslIIDulIOn.
n COnlI8sl Il W8s 8 CcnlI8 lcncl OllI8dIlIOn8 WOIdV1cW %8IXIsm
8nd %8IXIsm-LcnInIsm lh8l sOCIaIsm OI COmmunIsm WOud c8d lO
8nOlhcI mOdc OldIslIIDuUOn lh8l WOud OhcI IndIVIdu8s 8 lOund8lIOn
lOIOlhcI8nd DcllcIQOssIDIIlIcs lOIdcVcOQmcnl.CCOIdIn_lO lhIs dIs-
lIIDuUOn-CcnltIC COnCcQlIOn 8n 8ulhOIIl8IIm Wcl8Ic sl8lc lh8l Icl8Ins
CcIl8InslIuCluIcs Ollhcm8IKclcCOnOmyC8nDcIc_8Idcd8s sOCIaIsmOI
COmmunIsm.hc"Icay cXIslIn_sOCI8IsmIn ussI88slcD uIOQc
andLhIn8 mOVcd cX8ClyInlhIs dIIcClIOn: lhcQ8Ily cIlc OCCuQIcdQO-
sIlIOns Olsl8lc QOWcI 8nd slccIcd lhc cCOnOmy In lhc dIIcClIOn Ollhc
_Ic8lcslQOssIDcInCIc8sc Olm8lcIIa Ougul8sOmcWh8l c_8Il8tI8n dIs-
lIIDulIOn OlInCOmc 8s Wc 8s lhc _Ic8lcsl QOssIDc sOCI8 scCuIIly.'" n
lhc Icay CIslIn_ sOCIaIslWcl8Ic sl8lc lhc QOICIcs Ollhc Imn_ Q8Ily
WcIc nOl_uslImQOscdIn8n 8ulhOIIl8II8n m8nncI 8_8Insl8QOIlIC8 OQ-
QOsIlIOnsltIVIn_lOtlhcIcInltOduClIOnOlC8QIl8Ism.hcm8_OIIlyOllhc
QOQu8lIOn 8sO h8d nO 8Clu8 InlucnCcIlW8s 8 mOIc OI css Wc l8kn
C8Ic OlDulQ8ssIVc o|ectOllhc Q8Ilys QOICIcs. LQcn dIsCussIOn COud
OCCuIOnyIn8VcIyImIlcdW8yIl8la.hcIuIn_"LOmmunIslQ8IlIcs
222 AN !NTRODUCTON TO KARL MARX'5 AJ1A
Inthc "8OCI8I8t COunttIc8 88O dIdnOt8OW lhcIt mOnOQOy OlQOWct
tO Dc guc8lIOncdDy Othct COmmunI8t lOtCc8. bOCIchctcdIdnOttc_u-
8tc lhc 8OCI8 QrOCc88 thc Q8tty dId. Lc8t-8I_htcdy O88 ucmDut_
CtItICIZcd8uChtcndcnCIc8c8ty On.nhctunCOmQclcdtcXt TheRusian
Reoo/ution8hcWtIlc8:
YIthOut _cncr8 ccCtIOns, WIthOut unrcstrICtcd hccdOm Ol Qrcss 8nd
8sscmby, WIthOut 8 lrcc stD__c Ol OQInIOn, Ilc dIcs Out In cVcry Qub-
IC InstItutIOn, bcCOmcs 8 mcrc scmb8nCc Ol Ilc, In WhICh Ony thc
burc8uCr8Cy rcm8Ins 8s thc 8CtIVc ccmcnt. ubIC Ilc _r8du8y l8s
8sccQ, 8 lcW dOzcn Q8rty c8dcrs Ol Incxh8ustIbc cncr_y 8nd bOund-
css cxQcrIcnCc dIrcCt 8nd ruc. mOn_ thcm, In rc8Ity Ony 8 dOzcn
Outst8ndIn_ hc8ds dO thc c8dIn_ 8nd 8n cItc Ol thc WOrkIn_ C8ss Is
InVItcd lrOm tImc tO tImc tO mcctIn_s Whcrc thcy 8rc tO 8QQ8ud thc
sQccChcs Ol thc c8dcrs 8nd tO 8QQrOVc QrOQOscd rcsOutIOns un8nI-
mOusy-8t bOttOm, thcn, 8 CIQuc 8b8Ir. ( TheRosaLuxem/utgReadet,
%Onthy HcVIcW rcss, ZUU4, JU|
hc8l8lcIntc8y cXI8lIn_8OCIMI8mW88QtIm8tIy8nIn8ltumcntlOt
8cCutIn_ lhcQ8t8tucOVct 8OCIc. hc "dyIn_Out Olthc 8l8lcWa8
QO8gOncd tO 8dI8l8ntmtutc. OWcVct lOt N8tX8 COnCcQlIOn OlCOm-
muuI8mItI8QtcCI8cythI8QOInlth8tI8 OldcCI8IVcImQOtt8nCc:thc8l8lc
WhclhctDOut_cOI8Ot"8OCI8I8lCOn8lItutc88nIndcQcndcntlOtCc8l8nd-
In_ 8DOVc 8OCIcty th8t Ot_anIZc8 [tO 8 Cctl8In cXtcnl| 8nd ImQO8c8 [Dy
lOtCc IlncCc888ty| 8 8QcCIhC lOtm OltcQtOduCtIOn.P_8In8tthI8 thc "88-
8OCI8tIOn OlhccmcnN8C8Ch8t8CtctIZ8tIOnOlCOmmunI8mtc_u8lc8
It8 8h8It8 WIthOut tc8Ott tO 8uCh 8n cXtcD8 IndcQcndcnllOtCc 88 On_
888uCh8lOtCccXI8t8OncC8nnOt8Qc8KOl8"888OCI8tIOnOlhccmcn.
h8tOncC8nOuy8Qc8KOlCOmmunI8mWhcnnOt Ony thcCOmmOd-
Ity mOncy and C8QIl8 h8Vc Dccn8DOI8hcd Dul lhc 8t8tc 88 Wc dOc8
nOtmc8nlh8l8uCh88OCIcWOudh8Vc nO tuc8.hcmcmDct8Ol8uCh
88OCIcWOudh8VctO tc_u8tc thcIt 8OCI8IlcOt_8mZcQtOduCtIOnIn
IndIVdu8WOtKQ8Cc8COOtdIn8tcDctwccnWOtKQ8Cc8h8tmOnIZc lhcIt
dIhctcnlIntctc8l888QtOduCct88ndCOn8umct8hndW8y8Oldc8In_WIlh
mInOrItyQO8IlIOn88ndlOt8On_tImcw8mh8VctO dc8W1lhdIhctcnt
COMMUNl5M5OCETY BEYOND THE COMMODl TY 22J
Forms oFgender and racia discriminationsuch discriminationwomd
notautomaticaydisappearoncecapitaistexpoitationends.
TheenormouseortoFcoordinationthatacommunistsocietywoud
have to perForm, coordination that occurs today through the market,
shoudnotbeunderestimatedinany case,norshouddierencesoFin-
terestandconicts,asweasthedangeroFcoordinatinginstancestaking
onaiFeoFmeirownandbecomingastatestructure.WhenEngeswrites
inAnti-DhtingthatthegovenmentoFpersonsisrepacedbythead-
ministrationoFthings"(MECW,25268),thisiscorrect,butoneshoud
mso add that the administration oFthings aso contains apotentiaFor
powerthatcanawayseadtothedominationoF peope.
Despitemthesedimcuties,thereisstinoimmediateyapparentar-
gumentastowhyacommunistsocietyshoudbeimpossibeinprincipe.
However,communismiF itisnottobeacrude"communism(MECW,
3:296)thatmereymanagesscarcityistiedtocertaineconomicandso-
cim preconditions. Marx emphasizes themassive deveopmentoFpro-
ductivityonthebasisoFscienceandtechnoogy, asweasthecompre-
hensivedeveopmentoFtheabitiesoFtheworkersasessentia!precondi-
tionsForthetransitiontoacommunistsociety[0aita/, I :6I6-2I, 635,
637-38,739,3:958-59),eveniFboth ony occurincapitmismupona
narrowFoundation,imitedbythegoaoFpro6tmimization.
TwothingsareceatinconnectionwithMarx'sconsiderations.first,
itisnotsumcientForthetransiuontoacomunistsociegtoconquerand
deFendstatepowerduringawemphaseoFbourgeoisrue,ikeinRussia
inI9I7.Withoutthecorrespondingsocimandeconomcpreconditions,a
sociaistrevouuonmightbesuccessmasaproecttommntainthepower
oFapoiticmparty,butnotasaprojectoFsocimemancipauon.Second,
acommunistsociegrequires aparticmardeveopmentto transFormthe
preconditions created within capimism. Not unti a higher phase oF
communist society," where the productive Forces have aso increased
withthea-arounddeveopmentoFtheindividua,andm thespringsoF
co-operauveweathowmoreundanty"can6omeachaccordingto
msabities,toeachaccordingtohisneeds"appy(MECW,2487).
Evenwhenacommunistsocietycanomybeachievedwimdimcuty
inightoFthesocimdevastationwroughtbygobacapitaism,bycrises
224 AN NTKODUCT!ON TO KAKL MAKX' 5 AI1A
8nduncmQOymcntInthcdcVcOQcdCOunttIc888Wc88InthcCOunttIc8
Olthc8O-C8cdhItdOtdWhIcthcrccXI8t88tthc 88mct:mc8hI8tOtI-
C8yunQrcCcdcntcdcVcOlm8tctIMWc8U:InI_htOlthcdc8ttuCtIOnOl
thcn8tutMlOund8tIOn8OlIlc C8u8cdDy C8QIt8I8tQrOduCtIOn,nOOn_ct
OCCuttIn_ OC8y Dut 8hcCtIn_ thc Q8nct 88 8 WhOc [Cc8ty VI8IDc In
CIm8tc Ch8n_c| In I_ht OlCOn8t8ntW8t8 m8t 88O cm8n8tc hOm Ot 8tc
QtOmOtcdDy "dcmOCt8tIC DOut_cOI8 8t8tc8InI_tOl8th8tthcrc8rc
cnOu_h _OOdtc88On8 tO 8DOI8h C8QIt8I8m 8nd rcQ8CcItWIth 8n "888O-
CI8tIOnOlhccmcn.
iDiO_rQy
O!_Ohnc8[19|:LcrlmlJKqtlub, Ucrummc&chrt]d.Zttcbut_ 199.
lthu88ctLOu8[J9O|:!orMur[LOndOn:Nct8OZ|.
Pthu88ctLOu8a!batLtcnnc [J9O|:cudtngLaQtal[LOndOn:Nct8OZ9|.
l!hu88ctLOu8[19|:"dcOlO_yanddcOlO_CalbtatcQQatatu8c8ncntnund
htlosoqhj undUlhcrtsujs [cWXOtk: %OnthlycVIcWtc88Z1|.
!tVatctLlmat[199Z|:Lcrrcrdcs Hohblund, %un8tct.
ltVa!ctL!matu.a.[1999|:Kuqtluldoc,%un8tct.
!atctL!mt%ahnkOQlt_t[J999|: UrcnzcndcrUlo0ulrtcng. Ukonomtc,
UkologtcundoltltktndcrHcllgcsclbchuj, +.V_ubctatb.u.%un8tct.
aCkhau8Man8-LcOt_[199|: Ltulckltkdcr Hcrgor ttcbut_.
aCkhau8Man8-LcO[Z|: U0crdLoqqclstnndBg_ "oltluchcUkonomtc"
und "Krtltk"0ctMurundtndcr'!runk}trlcrchulc,'n:LOub!cnt8Ch
cnhatd[Mt8_.| HoggungurtchzumUcdchlntrand%unChcn 1~Z1.
cCkL!tCh[19oO|:tskoctcQ[LOndOn: ba_cublCatOn8 199Z|.
chtcn8Lcthatd[199a|:rkcnnlnuundUkonomtckrtltn:dct8.[M_.|Ucsclbchuj
undrkcnnlnu, ttcbut_ 1Z9~O+.
chtcn8Lcthatd [199b|: LcrkrtltschcUchulldMurschcn Hcrgormunugsc, n:
dct8.[M_.| Uecllrchujund rkcnnlnr, ttcbut_ 1O~o9.
chtcn8Lcthatd[Z+|: HcslltchcrMurtsmur, btutt_att[mLt8Chcncn|.
tcn!c!Mclmu![19o9|:oztu!orundkonomuchcs U0jckl, LQladcn.
La8tcll8%anucl[Z1~Z|: 1cnormultondgc:conomj, octclj, undCullurc,
VO!umc8[LxlOtd: !aCWc!ub!8hct8 199O|.
LOncttM8n8-LcOt_[199o|: IomundclrkuqtlulzurUlo0ultrtcng. nlwtcklungund
Krtltkdcr qoltluchcnUkonomtc,%un8tct.
LImOul8Lmtt%lO8ann8[J999|:YcttthcOtcdcO!O_cundtct8Ch8mu8n:
BctlrgczurMur-ngclr-!orschung.cuctOl_c 1999Mambut_ 1Z~O.
Lbcn _O[Z|:ZwuchcnMur,MurtsmusundMurtsmcn-eurlcndMurchcn
1cortc .tO!c-tuht-un.Ot_]tcxtc]clbc_!c8attcn.8htm!.
tOuCault%Chcl[19O|:Ltsctqltncundunrh[cWXOtk: andOmMOu8c19|.
Lct8tcnbct_ct Mcdc [199|: mqcrsonulowcr:ulorjund 1coqojlhcBourgcots
lulc[LhCa_O:MaymatkctOOk8Z9|.
L!mannY!cd ctct8lau8[Z1 |:MchrLmckdurchmchr!rcthctl.Ltcncuc
dulonomtetnddr0ctlundthrc!olgcn, Mambut_.
220 BBLlOCKAFHY
Ltam8CIntOnIO[ 19Z9~|:ruonAolc0ook[cWXOtK: LOlumbIa\nIVct8Itytc88
Z1|.
Mot|%IChac!c_tInlOnIO[ZZ|:mqtrc[Lambrd_c: MarVatd\nIVct8I|tc88
Z|.
Mau_YOll_an_tI|z[19o9|: IorsungcnzurtnjhrungtnsaQItal.u.ln.
Mau_YOll_an_rI|Z[Za|:MI8|O8Chc8]LO8Chc8In:mdrgumcnlZ1 o~9O.
Mau_YO!_an_tI|z[Zb |:YaCh8cndcZWcIlcl andctmOnc|tcnYct||hcOrIcIn:
us drgumcnlZ1, +Z+~.
McCKct,O!l[1999|:tcntrlchungs-, U0crltqmngs- unddtltomgcschtchlcdcrko-
nomuchcnMunukrtqlcunddcsaQIlalIn:!tValctu.a. [1999|ZZ1+Z.
McIntICh%IChacl[)999|: 1cctmccoIuluc: 1hc Crtltqucooltltculconomj
0clwccnctmltjccuolultonundClusstcul1rudtlton[LcIdcn:t!lCadcmIC
ublI8hct8,lOrthCOmIn_|.
McnICh%IChacl[1999a|:OmmcnlIcttcLI|cratut!8lcn:alctu.a.[1999|1oo-Z.
McIntICh%IChacl[1999b |:\ntct_an_dc8aQI|a!I8mu8:LIc tI8I8unddIctI8cIn:
lrcggc 1]19991~.
McIntICh%IChacl [Z|:LcldundtcdI|IndcttItIKdctQOItI8ChcnLKOnOmIcIn:
usdr_umcnlZ1 9~+9.
McInrICh%IChacl [Za|:mQctIaI8mu8thcOrIc:In: bChIndlctbIc_hIcd bQInd!ct,
%anucla [Mt8_.|1cortcndcrnlHultonulcnBcttchungcn, LQ!adcn Z9-o.
McIntICh%IChacl [Z+|: crruxcologtc,d0lctlungmuudcmBcgrt_unddtc
cklurcuon1xlcn.ZuHoggung!rtlzuugsdnlworluumctnmBctlrug, tn
drgumcnl21,In:usdrgumcnlZ+[ImLt8ChcIncn|.
MI!ctdIn_udO[191 |:us!tnunzkuqtlu( tanKmtl]% 19Oo.
MIt8Ch_OaChIm[199|:crnultonulc Hcll0cwcr0ssluul. luul, cmokrultcundoltltk
tmglo0ulcnKuqtlulumuscrlIn.
MOb8On_Ohn.[19Z|:crmqcrtulrmu, ln 19Oo.
Muh8ChmId_t_[ZZ|:oltluchcUkonomtcdcr!tnunzmrklc.dkluultstcrlc
Acuuujugc, Mambut_.
nItIalIV_HQQcc_ulatIOn8thcOrc[199|LlObalI8IcHn_undtI8cdc8OtdI8mu8.
LIncLIn hHn_In: cCKctbtchcnu.aejoctlsdcrAultonul6konomtcMambut_
~Z.
tOh%aKOtOLaQaVIl8a8LO8|a8[1999|:oltltculconomjoMonqund!tnuncc,
[%aCmIllan|.
_aCOb8u[199|:LandWIt|8Challund LKOlO_IcImKuqtlul,m:UXd 1o +~.
au|8Ky atl [1 oo|:KurlMur Uckonomuchcchrcn. Ucmctnccrslndltchdu_cslclll
undcrlulcrl,blutl_at|.
lL!OCKAFHY 227
8ul8ky 8tl191+|:LctmQctIalI8mu8In:LtcAcucZctlZ 9b~ZZ.
cync8,_ohn%8ynatd [19O|:dl_cmctnc1hcortcdBcschjtgung, JZtmcsundJ
UcMm,ctlIn, 19b.
t|kc,%ICh8cl [199|:b|IChWotlc: 8nk8nknolct8c,In:tslorrch-krtluchcs
H6rlcr0uchJMurumm,d. ZM8mbut_bQ. 1~ZZZZ~ZZ9~Z.
utZobct|[199|:LIcMImmcl8ht|dc8Lcldc8In:Kruu1O]1 Z1~O.
utZ,obct|[1991|:LcrKolluqsdModrtcmng,t8nkmt|]%.
utZ,obctl[1999|:chwur0uchKuqtlulrmm, tantl]%.
LcnIn[191|:nlroducltonloMur,ngcb,Murtsm[cWXotk: n|clIon8!
ub!J8hct8 19bO|.
LcnInYl8dImIt.[191|:mqcrtultsm: 1hctghcsllugcoCuqtlultsm[cWXotk:
n|cD8|Ion8lublI8hct8 19O9|
LcnInYl8dImIt.[191 8|:lulcundcuolulton[cWXotk: n|cD8lIon8lub!J8hct8
199|.
Luxcmbut_,o88[191|: 1cdccumulultonoCuqtlul[cWXotk: oucd_cZ|.
Luxcmbut_o88[191b|:"hcu88IancVo!u|IonIn 1cosuLuxcm0u_cudcr
[cWXotk: %on|hlycVIcWtc88, Z+|.
%8ndLDc8|[19Ob|:Murrlconomtc 1hcotj[cWXotk: %onlhlycVicWtc88,
19O9|.
%8ndc!LDc8|[199b|:nlroducltonloMurum[London: !u|otc88 19bZ|.
%I!Jo8,8nnI8LConom8kI8,Lcot_[Z|:ZurnlwtcklungdKrtscnlhcortcuus
dcmnleldqrodukltonsschcmulu:uon1ugun-BurunouskgzuBuchurtn,in:
BctlrgzurMur-ngc-!orschung.cucol_c ZZ,M8mbut_ 1 O~b+.
%IIo8ohnLImou!I8LImI|tI LConom8kI8Lcot_c [ZZ|:KurlMurundlhc
Clusstcs.dntsujon Iuluc, Crucsundlhc CuqtlulrlModcoroduclton, [8h_8|c|.
cu888,LhtI8lc![19Z|:mqcrtultsmmund Wllmurkl0cwcgungdcsKuqtlu,
Ltl8n_cn.
u88b8bInc[ZZ|:LoWnlo8d8|LIcb8l8hl:LI_cn|umIncInctdIl8!cnYcllIn.
UKLd 1ZO1 1~, .Qtok!8.dc.
88Chuk8nI8,Lu_cn[19Z+|:LuwundMurxrm.dUcncrul1coj[London:lu|o
tc88 19b|.
o8|onc%oI8hc[1 9bb|: 1tmc, Lu0or,undoctulLomtnulton[L8mbtId_c: L8mbd_c
\nIVct8I|ytc88199|.
ou!8n|Z88,ICo8[19|:lulc, owcr, octulum[London:Nct8oZ|.
8koW|Z8d8 [Z|:tnuchc Hurcnqtvduklton.dculunddcologtc, tcIbut_.
cIChcl|,Mclmul [19|:ZurlogtschcnlruklurJKuqtlul0cg:_0ctKurlMur
tcIbut_Z1.
228 BBLOCKAPHY
cIChclt,Mc!mu|[ZZ]:LtcMurschcKrtltkkonomtschcrKulcgortcn. U0crgungn
mm0mdcrUcllungtndcrdtulckluchcnLurlcJungmclhodctm8QIl8lm:
c|8chct,t:n_bchm:dllhcd[M_.|mumtqultonub Icrshnung, t8nkt|]%.
cI||ct8tl[ZZ|:Lctc_tIhdctab8|t8k|cntbc|n: Urundrtrsc. zctlschrtjr
ltnkclhcortcOdc0ullc 1, ZZ,b.~1o,W._tndt:88c.nc|.
ICatdO,L8VId[1o1|:"Ln|hctInCQlc8OlOlI|IC8!LCOnOmyand8|IOnIn: 1c
HorksundCorcqondcnccoLuutdtcurdo,cd.IcttOb aVOl. 1, [L8mbtId_c
191].
O8dOl8ky Om8n [19Oo|: 1cMuktngoMur's L8QI|[LOndOnlu|Otc88 199Z].
O8dO!8 Oman [19Oob]:LctbltcI|umdc %88Chcn cQrOduIOn88Chcm8|a
[19Oo|d.,Z+~9O.
bablOW8khOm88[Z|. tI8cn|cndcnzcndct8QIl8l8kkumu!8lIOnn:Lus
dt_umcnlZ1 +o-Z.
b8b!OW8kIhOma8[ZI):blIChWOt|: LlOb8!8IcHn_In:tslortsch-krtltrche
Hrlcr0uchdcsMurxumu, d. M8mbut_, bQ. oO9-o1.
bm|h,d8m[1 O|:dnnqutqtnlolhcAulurcund Cuucsolhc WullhoAultons,
ZVOl8,In:UlusgwdtltonolhcHorksundCorcsqondcnccoddummtlh,VOl.Z
[LlOtd 19O|.
b|lzlcn_O[Z|:bl8al8lhcOtIcnOdct,cCkcnt8nd8ChWIctnncndctYcl|,Vct
cInI_|LuCh!In: Umndrtrsc.zctlschrgrhmlhcortc Odc0ullcO,Z, Z~o,
._rundtI88c.ncl.
tcnk!cOtbct|[199o|:Ya8 I8|dctYct|:Y88 8Oldc tI8c:n:lrctj g [199o|,
~1.
tcnklcOtbct [Z|:aQIlul8OnVO 8Q|8!I8mu8In:Konkrcl[Z]+Zh.
V.YctlhOlLl8udI8[19o]:t8ucnatbcI|:dctblndc!cCkIndcttI|IkdctQOlI|I8Chcn
LkOnOmc,In:Bctlrgczur cmtntsluchcn 1hcorcundruxtr , 1 o~Z.
YO!lM8t8ld[1999|:dr0ctlunddulonomte.tnIcrsuchubOHtdcrqm chcund
MclumoQhoscnkuqtlultsluchcrroduklton,%un8|ct.
OtC8
I . detaIed commentary on the hrst two chapters ol 0aita/amended by com-
mentares on mrther Maran tets dealng with value theoq can be lound n
Henrch (2008). contnuation ol ths commentaj (coverng chapters 3-7)
wII appear n 20I2.
2. The descrpton New Keadng ol Mar" (veue Ha-Lekm re) was hrst
used by Hans-Ceorg Backhaus n the prelace to a coIIecuon ol his writngs
(I997). concentrated overview concemng the New Keadng ol Mar" s
given by EIbe (2008). New contrbuuons to the debate ncIude, among others,
Brentel (I989), Behrens (I 99Ja, I99Jb), Henrch (I999), Backhaus (2000),
Kakowitz (2000), Milosjmoulsj Economaks (2002), and KecheIt (2002).
Moshe Fostone (I99J) aIso beIongs n ths contet .
J. Mar used oerrcktand the derved noun lerrcktheit. lerrcktmeans mad,
rratonaI but aIso that something s dspIaced.
+. ln the hstory ol worldvew Marsm, the epstemoIogcaI sde ol Mar`s argu-
mentaton was mosdy negIected (as was the case with the bourgeos crtque ol
Mar). Western Marism rsed epstemoIogcaI questons, but the connecton
with Mar's crtque ol poItcaI economy was weak. OnIy with the renewed
dscusson ol Mar n the I960s and I970s was the epstemoIogcaI aspect
pIaced n the loreground aganst an economcaIly loreshortened reception ol
Mar's crtque ol poItcaI economy (whch onIy wanted to see n Mar the
better" economst).
. The transIation says diaIectcm nverson" but n the Ceman orginaI daIec-
tic" s not used.
6. Change ol quantty into quaIity: a quantty ncreases untiI ts quality s uIu-
mateIy changed. ll water s heated, then :U temperature ncreases, but t re-
230 NOTE5 TO PACE5 J7 - 55
m8:n8 huIdunlIlIlhn8y8l8rl8lO 8lc8m 8l !00 dc_rcc8Lcl8Iu8.Negtton o]
tke negatton: In dcVclOQmcnllhcnc_8lIOnOl8n OrI@n8l 8l8lcI8lO!lOWcdDy8
mrlhcrnc_8lIOn. 8ccd_rOW8IntO8Ql8nllhcQl8nlI8 lhc "nc_8ltOnOllhc
8ccd:llhcQlMl_rOW8 bIt8ndlc8Vc8DchInd8_rc8lcrnumDcrOl8ccd8lhI8
I8 lhc nc_8lIOn Ollhc Ql8nl 8nd lhcrclOrc 8 "nc_8lIOn Ollhc nc_8lIOn lhI8
dOc8nOlhOWcVcrlc8d D8CXlO lhc QOInlOldcQ8rlurcDulr8lhcrrcQrOduCc8
IlOn8hI_hcrlcVcl~lhc 8ccd8h8Vc mullIQlIcd.
7. McWrIlc8 In lhc Hntt krtn_ "lI8 ODVIOu8 lh8l dO nOl88y8nyUIn_ COn-
Ccrn:n_lhc parttomr QrOCc88OldcVclOQmcnlOllOrm8mQlc8_r8InOlD8r-
cyhOm_crmIn8lIOnlOlhc dc8UOllhc Il-Dc8rIn_Ql8nlIl88yIlI88nc_8-
lIOnOllhcnc_8lIOn[%LL25. I3! )s
8. OW8d8y88V8rI8nlOllhculIlIly lhcOtyOlV8ucI8dOmIn8nl8_8InWlhIn cCO-
nOmIC8lhc8O-C8!cdlhcOryOlm8r_In8l ul:lIly.
9. n lhc lhIrd VOlumc OlL8QIl8l %8D dcmOn8u8lc8 lh8l lhc 8Clu8 cxCh8n_c
rcl8tIOn8hIQ8 In nO W8y COrrc8QOnd lO lhc 8mOunl Oll8DOrcxQcndcd InQrO-
duCltOn[8ccCh8Qlcr 7).
!0. Ol_8n_rIlZM8u_InhI8 |or/esungen tur Etn[kng ins Kaptta/, dcCl8rc8
lh8l %8rxh8d lr8Ccd 8D8lr8Cll8DOrD8CX lO 8"D88I8 In n8lurc [M8u_ !989
!2!). nmy DOOXDie tssenscka] oom hrt, h8Vc 8llcmQlcd lO 8hOWlh8l
lDI8 I8 mOrc lh8n 8ImQly 8n unlOrlun8lc lOrmu8tIOn On lhc Q8rl Ol%8D. n
%8rx'8CrIlIQucOlQObuC8lcCOnOmyWchndOnlhcOnch8nd88CIcnlIhCrcVO-
lulIOn 8Drc8XWIlh lhc lhcOrclIC8l hcld OlCl888ICMQOlIuCM cCOnOmy DulOn
lhc Olhcr h8nd%8D'8 8r_umcnl8lIOn 8dhcrc8 hOm lImc lO lImc lO lhc rcm-
muOllhc8c COnCcQlIOn8WhIChhc8CluMlylr8n8Ccndcd.ouCh8mDIVMcnCc8
In %8rx'88r_umcnl8lIOn C8nOnlyDc dc8llWth 8lthcm8r_In8Ol8n InlrOduC-
lOryWOrX8uCh88lhI8 Onc.
! ! . 8 8nInlcndcdQrOOlOllhc 8uQQO8IlIOn lh8l%8rx8cc8V8luc8lrc8dyc8l8D-
lI8hcd lhrOu_hQrOduClIOn 8nd DclOrc lhccxCh8n_c8Clhc I8 Ollcn QuOlcd
lOlhcchcCllh8l"IlI8nOllhccxCh8n_c OlCOmmOdIlIc8WhIChrc_ul8lc8 lhc
m8_nItudcOllhcIrV8luc8Dulr8lhcr lhc rcVcr8clhc m8_nIludc OllhcV8luc
OlCOmmOdIlIc8 WhICh rc_ul8lc8 thc QrOQOrlIOn In WhICh lhcy cxCh8n_c
0apita/, ! : I56). hI8 OVcrlOOX8 lh8l lhI8 dc8l8 WIlh 8 rcl8lIOn Olrc_ul8-
tIOn8nd nOl8 lcmQOr8l rcl8lIOn [hr8l lhcrc'8 V8luc,lhcn cxCh8n_c OCCur8|.
8 l8r 88 lhc lcmQOr8lCOnncClIOn I8 COnCcrncd %8D Cc8rly 8l8lc8: "lI8
OnlyDyDcIn_cxCh8n_cd lh8lthcQrOduCl8Oll8DOur8CQuIrc 88OCI8lyunI-
lOrm OD_cClIVIly 88 V8luc8 ertgegenstnd/ickkett], WhICh I8 dI8lInCl lrOm
lhcIr8cn8uOu8lyV8rIcd OD_cClIVIly 88 8rlICc8 OlutIlIly [0aptta/, I. ! 66).
Or lhcQrOduCcr8 OlCOmmOdIlIc8lhcOD_cClIVIly OlV8luc Ql8y8 8 dcCI8IVc
rOlc WhICh I8 Why "lhcIr Ch8r8Clcr 88 V8uc8 h88 8lrc8dy lO Dc taken tnto
constderatton durtng production" 0apita/, I : !66, cmQh88I8 mInc|.hc l8Cl
lh8l V8luc I8 "l8Xcn InlO COn8Idcr8lIOn lhc h:lurc V8luc Ol8 COmmOdIly
c8lIm8lcd Dy lhc QrOduCcr8 I8 8OmclhIn_ dIhcrcnl lh8n IllhI8 V8lucWcrc
8OmclhIn_QrccxI8lIn_.
NOTE5 TO FACE5 55 - 80 2J
I2. The anaIyss ol the va!ue lorm occurs n the comprehensve thrd section ol the
hrst chapter ol 0apita/.
I3. Many ntroductions to 0apita/aIso understand the anaIysis ol the lorm ol
vmue n such an abstract-hstoricm way and therelore mss the pont ol Marx's
argumentaton. Thus does Haug (I989) contrast the rem hstorica! deveIop-
ment" to the anaIyss ol the lorm ol va!ue, whch soIates the Iaws ol deveIop-
ment ol the vaIue lorm n Iaboratory-Ike pure cuIture." Haug relers approv-
ngIy to EngeIs's lormuIa that the IogcaI depcton ol categores is mereIy the
hstoricaI deveIopment, strpped ol dverting chance occurrences (see secton
2. I regardng the probIem ol EngeIs's readng). Ths pont, among others, was
the subect ol a debate between Haug and me that occurred n the pages ol the
oun Da Atgment.See Haug (2003a, 2003b) md Henrch (2003, 2004).
I4. OnIy a[etmoney s scenthcaIIy deveIoped as a necessaj (not conscousIy
ntroduced) result ol the actons ol the commodty owners can one consder
the hstonca! process hom whch ths resuIt emerged. Ater deveIopng the
category ol money, Mar gves a very short and abstract outIine ol the hstorcaI
emergence ol money (0apita/,I: I8I-83).
I5. Above mI, Hans Ceorg Backhaus in the I970s ponted out the monetary"
character ol Mar's theory ol vaIue and thus had a decsve nuence upon the
new readng ol Mar" relerred to n section I.3 above.
I6. ln A0ontti/utiontotke0titiqueo[Po/itica/Lconom,Mar describes money
as the drect embodment" ol abstract Iabor (MECW, 29:297).
I 7. The term deoIogy," whch Mar uses rareIy n 0apita/,s oen understood
as a sort ol la!se consciousness" to which letshism aIso belongs. A cntcaI
dscussion ol the reIatonshp between deoIog and letishsm can be lound n
mouIsjMIos (I999).
I 8. ln section I .3 we noted that the young Mar understood captaIsm as the
aIenation" lrom human speces beng." Mar's analyss ol the letsh char-
acter ol commodties was understood by some authors as a contnuaton ol
ths theory ol aIenaton. However, a c!ose readng yeIds that Mar does not
reler to any sort ol human essence" when deaIng wth the letsh character
ol commodtes.
I9. Ths concepton beIongs to the standard repertore ol traditionaI Marxsm.
lt was dissemnated by Ernest MandeI, lor exampIe, aIong wth a hstori-
cal readng ol 0apita/n many ntroductory texts (see MandeI's Haist
Lconomic7keor).
20. The connecton between smpIe crcuIaton" and captaI s depcted by
Marx in the preImnary works that Ied to 0apita/~inthe 0tundtisseand
the so-caIIed |ttextol A0ontti/utiontotke0titiqueo[Po/itica/Lconom
but not n 0apita/.ln 0apita/,Marx begns the lourth chapter wth the anaI-
yss ol the lormuIa M -C-M'. Wth ths omsson, Marx hmse!l abetted the
interpretatons mentoned above that contrast a market economy and captaI
as separate thngs.
232 NOTE5 TO FACE5 88- \00
2!. %8rx'8cxQrc88IOn"OXOnOmI8ChcLh8r8Xlcrm88Xcndcrcr8OncnI 8tr8n8l8t-
cd88"Ch8r8Clcr8WhO 8QQc8r On thc cCOnOmIC 8l8_c 8Olhc tcrm "Ch8r8Ctcr
m88XWhICh I8 Ohcn u8cd In lhc Lcrm8ndI8Cu88IOndOc8 nOt 8QQc8rIn thc
Ln_lI8hlr8n8l8lIOnOl0apt|a/.
22. hcnhcInlrOduCc8C8QIl8lInlhc 8cCOndQ8rlOl0apt|a( VOl. !, %8C8VOId8
lhclcD"Cl888.LnyInVOl.2 dOc8 hc8trc88cxQlICItlylh8llhc "Cl888 rcl8tIOn
I8Mrc8dyQrc8uQQO8cdWhcnC8QIl8lI8l8ndl8DOrcrmccl8tlhcm8rXcllOrDuy-
In_8nd8cllIn_l8DOr-QOWcr[0apt|a/, 2: ! I 5 |.
ZJ. 1Orcx8mQlc\lrICh cCXInhI8 DOOXRtsk Socte 1oward a Jew Hodot.
24. %8rx 8Qc8X8 In 0apt|a/ Ol|ne V8uc Oll8DOr-QOWcrIn lhc 8In_ul8r 88 Il8ll
l8DOr-QOWcr h8d lhc 88mc V8luc. Mc dOc8 lhI8 DcC8u8c hc InIlI8lly WI8hcd
lO cx8mIncmnd8mcnl8l 8lruClurc8~hOW 8urQlu8 V8luc I8 QO88IDlc dc8QIlc
cQuIV8lcnlcxCh8n_c~8ndlOrlh8lQurQO8cdIhcrcnCc8In lhcV8lucOll8DOr-
QOWcr dO nOlQl8y 8 rOlc. %8rx 8cc8 lhc lOund8lIOn Ol8uCh dIhcrcnCc8 Qtt-
m8rIly In dIhcrcnl CO8t8 OlQu8lIhC8lIOn WhcrcDy lhc l8DOr cxQcndIlurc Ol
88XIllcdl8DOr lOrCc COn8lIlulc8 8hI_hcr m8_nIludc OlV8luc. MOWcVcr Wc
C8n8l8OCOnCludchOm%8rx'8cmQh88I8uQOnlhc"hI8lOrIC8l8ndmOr8lclc-
mcnlOllhcV8luc Oll8DOr-QOWcr lh8l lhI8V8luc I8 dclcrmIncd dIhcrcnlly
nOt_u8tIn dIhcrcnlCOunlrIc8 Dul 8l8OWIlhIn lhc 88mc COuntrylOrdIhcrcnl
8cClIOn8 OllhcWOtXIn_Cl888 [On lhcD88I8 Old:hcrcnlOr_8nI28lIOnh_hlIn_
8lrcn_lh tr8dIlIOn ctC.| 8nd lh8l 88ymmclrIC8l _cndcr rcl8lIOn8 8nd r8CI8l
dI8CrImIn8lIOnlc8d lO dIhcrcnCc8 In lhc V8luc Oll8DOr-QOWcr 8InCc 8QcCIhC
Cl8Im8 C8nnOlDc888crlcd.
25. 8 dI8Cu88cd In lhc QrcV:Ou8 Ch8Qlcr Only In lhc 8ClOlcxCh8n_c I8 Il h.r8l
QO88IDlc lO dclcrmInc hOWl8r_c lhc 8um OlV8luc Crc8lcd durIn_8 Q8rlICul8r
WOrXd8y8Clu8lly I8. llhc COmmOdI C8nDc8O!d 8l M! lhcn8Q8rl:Cul8r8um
OlV8lucDI_ Or8m8l!I8 Crc8lcd.hc lOlOWIn_cxQl8n8lIOnrclcr8 lO lhI88um
OlV8luc. lWrIlclh8llhcWOrXcrWOrkSlOr 8Om8nyhOur88ndlhcrclOrcCrc-
8lc8 8O muChV8lucIlI8 nOl 8m8llcrOll8llIn_ D8CXInlO 88uD8l8DlI8lI8lQrc-
mOncl8rythcOQOlV8lucDulmcrcly88ImQlIhcdh_urc Ol8QccCh.
26. ouCh 8 dcm8nd W88 lODul8lcd lOr cx8mQlcDy1crdIn8nd L8888lc ( !825-
! 864) 8ndhI8lO!OWcr88ndW888h8rQlyCr:lICIZcdDy%8C.
27. %8rx WrIlc8 Ol8]e|itn Only WIth rc_8rd lOlhc COmmOdIly mOncy 8nd C8QI-
tM: 8Q8ruCul8r 8OC8l rcl8lIOn8hIQ 8QQc8r8 88lhc QrOQcrly Ol8lhIn_. [Ln lhc
lclI8h Ch8r8ClcrOlC8QIl8l 8cc 8cCltOn 5 .J DclOW.| McWrIlc8 Olms|qca|ton
Whcn rclcrr:n_ lO lhc l8Cllh8l 8Q8rlICu8r8l8lc Ol8h8Ir8 ncCc888rIly 888umc8
8n InVcrlcdQhcnOmcn8l8QQc8r8nCc:WIlhlhcW8_clhcQ8ymcnlOllhcV8luc
Oll8DOr-QOWcr8QQc8r888lhc Q8ymcnl OllhcVMucOll8DOr.
28. nlhcnlrOduClIOnOlI85 7, %8CnOlc8lh8l8n8QQ8rcnlly8ImQlcCOnCcQtbk
"l8DOr WhICh 8QQc8r8 lO cxQrc88 8 8l8tc Ol8h8Ir8 cxt8ltn_In cVcry 8OCIcly I8
hr8lm8dcQO88IDlc 8nd "Qr8Cl:C8!!yrc8lIn C8QIl8lI8l 8OCIcly: OnlyIn C8QIlM-
I8mh8VcV8rIOu88CuVIlIc8 DcCOmc 8cQ8r8lcdhOmQcOQlc8OCI8lCOntcxlclC.
Only nOW I8 lhcrc nO 8In_lc dOmIn8nl 8CltVIly 8nd 8 8ClIVIly I8 8 mc8n8 Ol
NOTE5 TO FACE5 ~ 41 ZJJ
V8OtIz8lIOn lOt C8QIl8 8nd 8 mcan8 Ol 8utVIV8 lOt lhc W8_c 8DOtct Ony nOW
C8n Onc 8Qc8K t8lhct _cncra!y Ol"aDOt.
Z9. OWcVct lhc "Ilc 8Q8n Ol 8 m8ChInc dcQcnd8 Ony In Qatl uQOn Il8 Qhy8I-
C8 Wc8t-8nd-lc8t. l ncW 8nd ImQtOVcd m8ChInc8 COmc OnlO lhc m8tKcl lhcn
lhc m8ChInc'8 cCOnOmIC Ilc 8Q8n I8 COn8Idct8Dy 8hOtlct lh8n Il8 Qhy8ICa Ilc
8Qan. LOmQulct8 lOt cx8mQc 8tc u8u8y dI8C8tdcd nOl DcC8u8c Ucy nO On-
_ct WOtK Dul DcC8u8c muCh Dcllct Onc8 8tc 8V8I8Dc.
. DOVc Wc nOlcd lh8l lhc V8uc Ol8DOt-QOWct I8 nOl lt8n8lcttcd lO lhc QtOduCl
Dul lh8l 8DOt cxQcndIlutc Ctc8lc8 ncW V8uc. hI8 ncW V8uc I8 m8lhcm8lC8y
cxQtc88cd WIlh lhc hcQ Ol U8nd 5.
J . hc InCtc88In_ ImQOtl8nCc Ol KnOWcd_c 8nd 8cIcnCc lOt C8QIl8I8l QtOduClIOn
I8 nOl 8 ncW QhcnOmcnOn lhc W8y l88hIOnaDc Ol 8 lt8n8IlIOn hOm "Indu8-
lt8 8OCIcly lO 8 kOWcd_c 8OCIcty mI_hl 8u__c8l. nd Il I8 Cctl8Iny nOl lhc
C88c-88 I8 8OmclImc8 8c_cdth8l Il C88 lhc C8QIl8I8l lOtm-dclcDIn8lIOn Ol
QtOduClIOn InlO Quc8lIOn.
Z. hI8 cnOtmOu8 InCtc88c I8 888umcd In Otdct lO 8ImQI lhc lOOWn_ CaCu8-
lIOn8. l Onc COmQ8tc8 dIhctcnl ct88 OVct 8 dI8lanCc Ol dcC8dc8 lhcn Il I8 QuIlc
QO88ID!c lh8l QtOduClIVIty dOuDc8.
. dcCrc88c In aDOt-lImc u8uay c8d8 lO 8n Inlcn8hC8bOn Ol 8DOt [8 _tc8lct
V8uc QtOduCl I8 Ctc8lcd In lhc 88mc amOunl Ol bmc) WhICh 8land8 In _OOd 8lc8d
lOt 8n InCtc88c In 8urQu8 V8!uc. ul lh8 I8 nOl COn8Idctcd In Out cxmQc.
J+. YIlh lhc Ot_8nIC COmQO8IlIOn Ol C8QIl8! Onc Dn8 InlO QtODcm8 Whcn 8d-
dtc88In_ lhc 8Vct8_c COmQO8IlIOn Ol tota/ captta/ In 8 8OCIcty 8InCc lcChnIC8
Ch8n_c8 In Onc Dt8nCh Ch8n_c lhc Vauc Ol Il8 QtOduCl8 8nd c8d8 lO 8 Ch8n_c
Ol lhc V8uc-COmQO8ItIOn In 8 Olhct Dt8nChc8 lh8l u8c lhI8 QtOduCl. hI8
mc8n8 lh8l Ch8n_c8 In lhc Ot_8nIC COmQO8IlIOn C8n nO On_ct Dc 8h8tQy dI8-
lIn_uI8hcd hOm Ch8n_c8 In V8uc-COmQO8IlIOn.
JJ. N8D'8 lcDInOO_y dcVI8lc8 hOm lh8l u8cd lOd8y: "COnCcntt8lIOn u8u8!y
dc8CrIDc8 8 QtOCc88 lh8l 8D WOud h8Vc undct8lOOd 88 "Ccnlt8Iz8lIOn lhc
tcduClIOn Ol lhc numDct Ol IndIVIdu8 C8QIl88.
. cn 1OWKc8 lt8n88lcd "8 dIcClICa InVct8IOn In lhc cn_uIn cdIlIOn Dul In
lhc Lctm8n OtI_In8 "dIacClICM I8 nOl u8cd.
7. r8n8QOtl I8 nOl COunlcd 8mOn_ lhc mnClIOn8 Ol Qutc mctCh8nl C8QIl8 8InCc
Il COn8lIlulc8 8 8Qhctc Ol Indu8ltI8 C8QIla. Yc 8tc dc8In_ hctc WIlh COnCcQ-
lu8 dI8lInClIOn8 In tc8!Ity Il m8y Vcry Wc Dc lhc C88c lh8l 8 Q8tlICu8t C8QIlM
COmDInc8 lhc mnClIOn Ol lt8n8QOtl8lIOn 8nd lhc mnCtIOn Ol 88c mcanIn_ 8
QOtlIOn Ol C8QIl8 I8 Indu8ltI8 C8QIlM 8nd lhctclOtc Ctc8lc8 V8uc 8nd 8utQ!u8
V8uc Whctc88 8nOlhcr QOtlIOn I8 mctCh8nl C8Ql8 lh8l QtOduCc8 ncIlhct V8uc
nOt 8utQu8 VMuc.
o. c Quc8bOn 88 lO lhc OtI_In Ol lhc 8mu8 h_Vcn tI8c uWIdcy dIVc@_ nO-
bOn8 DOlh wImIn C888ICa QOb cCOnOmy d COnlcmQOm cCOnOmIC lhcOty.
9. O 8ImQI Out CMCu8lIOn8 Wc wdI8tc_8td hcd C8QIl8 8nd 888umc 8 mm-
OVct lImc Ol Onc yc8t.
234 NOTE5 TO PACE5 I48 - I03
+. Mar's strongnterestnsuch aquantitatve methodoFcaIcuIatonsanex-
pressonoFtheambvaIencesaddressedabove(sec..n.I|.!nmanypIaces,
heremanstrappedwthnthepre-monetaryvaIuetheotyoFcIasscaIpoItcaI
economythathehadtranscendednotherpIaces.!FthevaIueoFacommodty
sdetermnedndependentoFexchange(whchwasaIsothedomnantconcep
tonntradtonaIMasm),thentheresnFactaansFormatonprobIem."
+ . To thatextentthecompettonprocessouHnedabovedoesnotbrngabouta
temporaItranstionhomasstem o]va/ue toasstem o]production pricet (snce
theresnocaptmsmwherecommodtesexchangeatthervaIues),butrather
brngsthetranstonhomaprcesystemwthunequaIratesoFprohttoaprce
systemtha(tendentaI)equaIrateoFprobt.Throughproductiityncreases,
changesndemand,etc.,therearepermanentshsnpricesandunequaIproF-
tratesnndvduaIspheres,whchswhytheequaIzatonprocessmediated
bycompetitonpenanenHytakespIace.
+Z. detaIeddscussonoFpostonsthatdeFendMar'sIaw,"asweIIasdscus-
sonoFbxrtheraspectsoFtheIaw,"canbeFoundnmybookDie issenscka]t
vom ert.
9. UnderexceptonaI crcumstances, suchasdurng anacute crss,captaIsts
requestaddtionaIcredt,nottomakeaddtonaIprobt,buttomeettherout
standngpayment obIgatons and avod bankruptcy. !n such stuations, the
rateoFinterestcanIeabovetheaveragerateoFproht.
++. !nFact,atanygventmewe hndnotone rateoFnterest,butsevermdherent
nterestrates,dependngupontheIengthoFthecredtperod.Thesenterest
ratestendtolienacertanrange,ForexampIe,between+ percentand6 per-
cent.!Fonespeaks oFnterestratesrisngorFmIng,thenthatmeansthat the
entrerangeshFtsandbecomeseventuaIIynarrowerorbroader.
45. ThebxndamentaI concepts can onIy be consderedhere nanntroductory
manner. comprehensventroductoncanbeFoundnKrtke(I995)asweII
as !tohLapavtsas(I999).
46. FurthersourcesoFncomeForthebanksareFees[Forkeepnganaccount,For
exampIe)andcommissons(ForthebrokerageoFsaIesoFstocksandbonds).
4. UsuaIIy,thebankorcredtcardssueronIyguaranteesuptoapartcuarImt,
however,theseIIercanusuaIIyverthevaIdtyoFacheckorcredtcardwith
asmpIenqury.
+o. ThebanksmereIypIaytheroIeoFbroker,andobtanacommsson.
49. !usecaptaImarket"hereasanumbreIIatermForsecuritesandstockmar-
kets.OFtenthetermhnancaImarket"sused,andithenneteenthandearIy
twentiethcentury,bourse"wascommon.Sometmesadstinctionsmadebe-
tweenthecaptaImarketasamarketForIong-termIoansandthemoneymarket
asamarketForshort-termIoans.
5O. ThectenttowhchthemmkctvaIuersesordependshenoreuponme
maturtyoFthecoercmpaper(theperiodoF dmebeForerepament)w
thecredtworthinessoF thedebtor(theesdmatonoFstureabiltytopay).
NOTE5 TO FACE5 I 04 - I 89 235
5I. Ol Ony 8rc 8lOCk8 8nd hcd-Inlcrc8l 8cCurIlIc8 lr8dcd uQOn C8QIl8 m8rkcl8
Dul 88O 8 numDcr O In8lHmcnl8 lh8l 8rc mcrcy C8Im8 uQOn 8lOCk8 8nd
DOnd8, 8lrICty 8Qc8Kn_ C8!m8 lO C1m8. hc "InnOV8l:On8 lh8l h8Vc OC-
Currcd In lhc 88l cW dcC8dc8 On lhc InlcD8lIOn8 hn8nC!8 m8rkcl8 [DOVc p
8O-C8cd dcrIV8l:Vc8) COn8I8l QrIm8rIy In lhc COn8l8nl InVcnl!On O ncW OD8
O lr8d8Dc C8Im8 lh8l I8 ncW Orm8 O hClIlIOu8 C8QIt8.
52. cW yc8r8 8_O lhc C8r m8nu8Clurcr % InCrc88cd Il8 QrOduClIOn Q8n8
In lhc m!ddc O 8 CrI8I8. c8QOndIn_ lO Quc8lIOn8 Dy _OuD8I8l8 lhc lhcn-
Ch8Irm8n O lhc COmQ8ny cxQ8Incd lh8l hc W88 Wc 8W8rc lh8l lhcrc Wcrc lOO
m8ny C8r8 On lhc m8rkcl Dul lh8l lOO cW O lhcm Wcrc % 8.
53. hO8c 8r_uIn_ lhI8 Qcr8QcClIVc c8ncd Or 8uQQOrl uQOn %8rx 8nd Ln_c8'8
I845-46m8nu8CrIQl Tke Cean Ideo/og, WhICh 8h8rcd In lhI8 QOInl lhI8
8ImQc V!cW O lhc WOrd: "hc Idc88 O lhc ruIn_ C888 8rc !n cVcry cQOCh lhc
ru!n_ Idc88: I.c. lhc C888 WhICh I8 lhc ruIn_ materia/ OrCc O 8OCIcly I8 8l lhc
88mc lImc Il8 ruIn_ inte//ectua/ OrCc [%LL 5.59).
54. l I8 nOl ncCc888ry lO dc8 hcrc Wlh lhc Quc8lIOn O Wh8l thc 8mOunl O _rOund
rcnl dcQcnd8 uQOn In c8Ch IndIVIdu8 C88c. 1cl u8 Ony 88y 8O muCh W!lh rc-
_8rd lO lhc '8uc O8nd: In8Or 88 Wc 8rc dc8In_ WIlh V:r_In 8O: lhc "V8uc
O8nd I8 _u8l 88 "Im8_In8ry 8n cxQrc88IOn 88 lhc "Vuc O8DOr [8cc 8cClIOn
4.5).hI8 "Vuc dcQcnd8 uQOn lhc cxQcClcd mOunl O _rOund rcnl. hc
QrICc O 8nd I8 88 hI_h 88 lhc 8um O C8QIlM yIcdcd Dy Inlcrc8l 8l 8 nOrm
r8lc Whcn lhc 8mOunl I8 lhc 88mc 88 _rOund rcnl. hc "VMuc O8nd I8 lhu8
C8Cu8lcd In 8 m8nncr 8ImI8r lO lh8l O lhc "V8uc O hClIlIOu8 C8QIlM.
55. hc 8um O _rOund-rcnl Q8ymcnl8 COn8lIlulc8 8 dcduCl:On uOm lhc lOl8 8O-
C!8 8urQu8 Vuc. 8 8 rc8ul O lhI8 dcduClIOn thc m888 O lOl8 8OC8 QrOh.l
I8 8m8cr lh8n Il WOud h8Vc Dccn WlhOul lhI8 dcduClIOn. hc 8Vcm_c QrOhl
MW8y8 D88c8 Il8c uQOn thI8 8m8cr lOlM 8OC!8 m888 O QrOhl Il I8 thcrcOrc
dIV:dcd Ony InlO Inlcrc8l 8nd cnlcrQrI8c O QrOhl.
56. n lhc C88c O IndcQcndcnl h8ndIWOrk lhI8 8cQ8r8tIOn I8 8DOI8hcd Dul 8ccm8
lO Dc 8n 8CCIdcnl8 COInCIdcnCc O Wh8l 8rc 8Clu8y 8cQ8r8lc lhIn_8.
57. hc lcrm8 personqcation 8nd persona/itation nccd lO Dc QrcCI8cy dI8l!n-
_uI8hcd. cr8OnIhC8lIOn C8n rccr lO lhc 8Cl lh8l 8 Qcr8On mcrcy ODcy8 lhc
O_IC O 8 lhIn_ 8uCh 88 lhc C8Q!lMI8l DcIn_ 8 Qcr8OnIhC8lIOn O C8QIl8 [In
LcD8n: Penonqkation). cr8OnIhC8lIOn C8n 88O rccr lO 8 lhIn_ h8V!n_
QrOQcrlIc8 O 8 Qcr8On 8llrIDulcd tO Il 8uCh 88 C8QIl8 8QQc8r!n_ tO Dc 8 8c-
8ClIVc 8uD_cCl [In Lcrm8n: Personqtie_). cr8On8Iz8lIOn I8 lhc rcduClIOn
O 8OCI8 8lruClurc8 lO lhc COn8CIOu8 8ClIVIly O IndIVIdu88.
58. hc Cl th8l COnCOmIt8nl WIlh lhc r!8c O"r8Cc lhcOrIc8 In lhc 8lc nInclccnlh
Ccnlury 8nl!-bcmIlI8m W88 cndOWcd Wlh 8 "r8Cc-lhcOrctIC8 Ound8l:On 8Q-
Qc8r8 c88 ImQOrl8nl 88 8 Ch8r8ClcrI8lIC O mOdcD 8nlI-bcmIlI8m WhICh OWc8
mOrc lO lhc dcVOul Ilh In 8CIcnCc O lhc nInclccnlh Ccnlury 88 8nl:-bcmIlI8m
W88 _IVcn 8 8CIcntIhC _uI8c. %OdcD MlI-bcmIl!8m W88 OQcr8lIVc DcOrc lhc
r!8c O"r8Cc lhcOrIc8 88 Wc 88 8lcr lhcIr dI8CrcdIlIn_.
230 NOTE5 TO FACE5 I90 " 200
59. Ant-Semtsmnths manFestatonbuIdsuponatruncated and superhcaI
crtique oFcaptaIsm. Noteverytruncated crtque oFcaptaIism,whch,For
exampIe, seesthehnancaI markets as the soIereasonForthe s oFcaptaI-
sm,saIreadyant-Semtic,butsuchsuperhccrtquesohereasyconnectng
pointsForanti-Semtcstereoqpes.
6O. Forthatreason,tsqutepIausibIeuaddressthepsychoIogcaIstrucresgener-
atedbybouossoceuonewishes uobnmoreCCknow!edgeconcem-
ingmesprmdoFn-Semnsm.Morecnotbesdhereconcegthedebate
niuatedinmeI93OsbyHorkhemerdAdomoasweIIasWIhembc.
6I. Moshe Postone succumbs to such a hasty certainq nhs essay Ant
Semtism and Nation SocaIsm". hesuggests adirectandnevtabIepath
omthecommodqFetshtoAuschwtz.
62. From the comucopa oFconttbunons, we shalI name onIy a Few. Lenn's
State and Revo/ution, Evgeny Pashukans's Te Cera/ Teo o]Law and
Haitm, Cramsc's Priton Jote/ook, AIthusser's Ideolg and Ideolgica/
StateApparatuses_ ohannesAol'sDer Staat des Kapitah, NcosPouIantzas's
State, Power, Socia/um, andHedeCerstenberger`sImpersona/ Power.
63. !nthetngsoFtheyoungMarxhomtheearIy I 84Os,oneaIsoencounters
acrtqueoFthestate thatcontrastsnonandreaIiq.AsaresuItoFthenad-
equacy oFsuch acrtqueoFmestate,Marbegan hs engagementwth the
crtqueoFpoltceconomy.TheseearIyworksarethushardIytIFora
crtiqueoFthestateonthebassoFthecrtqueoFpoIiucaIeconomy.
64. Maremphaszesthispontn0apita/: ThespechceconomcForm,nwhch
unpadsurpIus-IabourspumpedoutoFthedrectproducers,determnesthe
reIatonshpoFdomnatonandservtude,astgrowsdrectIyoutoF producton
tseIFandreactsbackontnturnasadetermnant.Onthssbasedtheentre
conhguratonoFtheeconomccommuntyarsnghomtheactuaIreIatonsoF
producton,andhencesotsspeccpolitcaIForm[0apita/, 3.927).
65. ]eremyentham(I 748-I832)wasanEngIshphi!osopherwhoadvocatedan
ethcaIsystembaseduponuti!taranprncpIes.
66. FoIIowingMar'sweh-knownFormaton,onecouIdsaythatthsandsubse-
quentstatementsonIyappIytothebourgeosstatentsideaIaverage.")ust
as the depcton oFthe captaIstmode oFproducton n ts deaI average"
[0apita/, 3:97O)does not yeId acompIete anaIyss oFcaptaIistsocety, the
same applestothe state.ThempIementatonoFthecompIeteIegaIandpo-
itcaIequaIityoFctzens(andespecaIIyoFFemaIectzens)wasaprocessthat
IastedntothesecondhaIFoFthetwentethcenturyn some states,andsstII
gongontosomeextent.Furthenore,asaresuItoFgIobaIprocessesoFmgra-
tion,thereIventhemajortyoFstatestodaynotonIyIegahyequaIctzens,but
aIsoagrowngnumberoFctzensoFotherstateswhoenoyconsderabIyFewer,
orass thecasethilIegaImmgrants,aImostnorights.
67. Ths state oFahars,mentoned byMarx n passng,s oneoFthe centraI
themesoFMcheIFoucauIt'sDiscip/ine and Punisk. !nthscontext,FoucauIt
NOTE5 TO FACE5 200 - 22 237
CrItICIZc8thctr8dItIOn8 COnCcQtIOn OlQOWcr 88 DcIn_ 8n 888ct th8t V8rIOu8
8OCI8lC888c8C8n8ImQy8QQrOQrI8tc._8In8tthI8OuC8ut8dV8nCc88"mI-
CrOQhy8IC8 OlQOWcr th8t QcD8dc8 cVcry IndIVIdu8l InhI8 Orhcr IntcO8-
IZcd 8ttIludc88ndDch8VIOr.
b. oInCc C8QIt8l mu8t COn8t8ntly COnQucr ncW tcrrItOrIc8,QrIV8Ic QrOQcrty rc8-
tIOn8 mu8tCOn8t8ntlyDcrcc8t8DlI8hcd undcr ncWCOndIuOn88uCh88WIthlhc
nlcHcttOt8Xc 8COntcmQOr8Qcx8mQlc [8ccu882OO2).
69. hcexistence OlmOncyI8nOtD88cd uQOn 8t8tc 8ClIOn8 r8thcr ItI8 thc COm-
mOdIIy th8tncCc88It8tc8mOncy [8cc Ch8Qtcr3).MOWcVcrundcr nOrm8 C8QI-
t8lI8tCOndItIOn8thc8t8tc_u8r8ntcc8thcV8luc Ollhc Q8rlICul8rconcrete mani-
[station o]mone thrOu_h8t8tcIn8tItutIOn8 [IndcVclOQcdC8QIt8I8m,u8u8lly8
Ccntr8D8nX8ccCh8Qtcr8).
7O. Lcn1n hIm8clncIthcr dcnIcd Wh8t hc OWcd tO MOD8On nOr thc OCC88IOn8
Ch8r8CtcrOlhI8DOOX.LnythcInVcntOr8Ol"LcnInI8mtr8n8lOrmcdthI88m8l
Q8mQhctIntO8nIn_cnIOu8 C888IC8WOrXOl%8rxI8m.
7I . oInCc "dyIn_ C8QIt8lI8m ODVIOu8ly 8urVIVcd lhc Ir8lOrld 8r [88 Wcll 88
thc ocCOnd|thcthcOryOl"ot8tc%OnOQOlyL8QItI8mW88dcVclOQcdWIth1n
thc h8mcWOrX Ol%8rxI8m-LcnInI8m. "ot8tc %OnOQOly L8QIt8I8m W88 rc-
_8rdcd88thcVcryl88tQh88c Olthc bn8l8t8_c OlImQcrI8lI8m: thc m8IOn Olthc
8t8tc 8QQ8r8tu8c8WIth thc mOnOQOlIc8W88XccQIn_"dyIn_ C8QIDlI8m OnlIlc
8uQQOrtlOr8lIttlcWhIcOn_cr.
72. OrMOD8OnhOmWhOmLcnIn8l8O tOOXthc Ch8r8CtcrIZ8tIOn "Q8r88IuCthc
u8cOlthI88tlrIDutcm8dc 8cn8c DcC8u8c MOD8On W8nt8 tO COnlrOnt8 8Ound
Wcl8rc C8QIt8lI8m [WhICh hc 8uQQOrt8| WIth 8nun8Ound ImQcrI8lI8m [WhICh
hcCrItICIZc8|.
73. hc nOtIOn lOrmul8tcd DyM8rdt 8nd c_rI th8t thc ImQcrI8I8m Oln8lIOn-
8t8tc8 [WhICh lhcy unCrIlIC8lly COnCcIVc OlIn tcrm8 OlLcnIn8 thcOQ OlIm-
QcrI8lI8m| h88 Dccn 8uQcr8cdcdDy 8n "cmQIrcWIthOut8tcrrItOrI8l Ccntcr Ol
QOWcrI88_r8ndIO8cIdc81Z8tIOnOlthI8 IntcH8lIOn8Ordcr.
74. LOrruQtIOn 8nd Qcr8On8l cnrIChmcntWcrc In nO W8y r8rc OCCurrcnCc8 Dut
thI8 88y8_u8t88lIttc8DOutthcmOdcOlmnCtIOnIn_Olthcrc8ycxI8tIn_8OCI8l
8t8tc 88 COnc8QOndIn_ QhcnOmcn8 Dy DOur_cOI8 QOItICI8n8 dOc8 8DOut thc
DOur_cOI8 8t8tc.
nUCX
AccumuIaton,I23F
captaIstaccumuIaton,I 6,2O7
prmtveaccumuIaton,92,2O5
AIenaton,2I, 23I n. I 8
Ant-semtsm,I 85d
Average(rateoproht,I4Id
anks,I 59F
ase]Superstmcture,2OOF
ond,mednterestsecurty, I62F
ourgeoseconomcs,32F,45F,55d,76,
87
ourgeossocety, I5,35,78,I 79d
ourgeosste,2O3d
ourgeoseI4,I8O,I93F
CaptaI,I 6,I82
captaIFetsh,I ! !, I34,I59,I9O
captaImart,I59F
centraIzatonoFcaptaI,I26
commercaIcaptaI,I35
concentratonoF captaI,I26
constantcaptaI]varabIecaptaI,99F,
I36,I44,I53
hctuouscaptaI,I55F,I 73
medcaptaI]crcuIaungcaptaI,I35F
hnctonngcaptaI,I57
ndustraIcaptaI,I3IF
nterest-bearngcaptaI,I55d,I65,
I9O
merchantcaptaI,I3IF
productvecaptaI,I32F,I 73
CaptaIsm,I3h
CaptaIst,88F
CrcutoFcaptaI,I3!d
CrcuIaton,64F
crcuIatonoFcaptaI,I3!d
meansoF crcuIaton,66
smpIecrcuIaton,82F,23In.2O
CIass,I4F,9OF,I9Ih
cIassreIatons,9O,I92, 2O3
cIassstmIe94,I9F
structuraIcIassreIaton]hstorcaI
cIassreIaton,92, I92F
CommercaIpaper,bIIoFechange, I6O
Commodq,39
commodtycrcuIaton,67
commodtyFetsh,7Od
NDEX
commodtyowner,62
smpIecoodtyproducton,8I
Communm,2I 0d
Competiton,ronIawsoF, I 6,89,IO4,
I23, 234n.4I
CompostonoFcaptaI,I24F
organccompostionoFcaptaI,I24,
233n.34
techncmcompostonoFcaptaI,I24,
233n.34
vaIuecompostonoFcaptm I24F,
I55
Costprce,I42F,I47
CostsoFCrcuIaton,I33F
Credt,I55d
credtmoney,I59F
credtsystem,I65F
Crss,I 69d
Crtque,29d,76
CycIes,I 7O
Democracy,2IO
Determnsm,24,I96,I98
Dimectcs,36F
Econosm,24,2OO
Emancpaton,22I
EnronmentaIdestructon, II7
EquvaIentForm,58F
EquvaIent,generaI,6O
Exchangevalue,39F
ExpIoitaton,I4,96F,I2O
Extrasurplus-vmue]extraproht,IO7
Factory, I IO
FaIIngrateoFproht,tendencyoF,I49d
FamIy,andvaIueoFIabor-power,93
Fetshsm,7Od,I ! !,I 79d,23In. 7
Fordsm,I 2I
Formdetermnaton,4O,56,7O,76,99
CeneralnterestoFcaptaI,2O6
CoId,69,I6I
Croundrent,I8IF,235n.54
!mperaIsm,2I3
!ndustraIreseearmy,I25F
!nterest,I55F
!nvestment,! I6,I 72
Labor, 42
abstractIabor,48d,65
concreteImor,5I
cooperanon,IO9F
Imorpower,52,9Id,! !6F
Imorprocess,99F
prvateIyexpendedImor,47,5IF
productveIabor,I2I
239
producnvtyoFIabor,IO5F
productvtyoFIaborandncreased
reaIwages,I2O
smpIe]s edIabor,52
soca!IyexpendedIabor,75,IO6,I48
unproducnve Iabo !22, I34
LabortheoryoFvaIue,33,42,45
Labortime,5I
necessaryIabortime,96,IO2F
socaIIynecessaryIabortime,44,5I ,
IO6
surplusImortime,96,IO2F
LawoFvaIue,44
LogcaIvs.hstorcaIreadng,3OF,56
MagntudeoF value,65
ManuFacture,! !2
Marsm,2Od,5I , I8O,I96, 2OO
westemMarxsm,26
worIdvewMarxsm,24
Marxsm-Lennsm,25, 22I
Money,55F,62d
money,asmeansoFpaent,68
money,asmeansoFcrcuIaton,66
money,assymboIoFvaIue,67
money,asworIdmoney,69
MoneycaptaI,I32F
Moneycaptalist,I57
240
Moneycommodity,69, I6I
MoneyFetish,77
MoneyForm,55F
MoneyoF account,I6O
Mystbcation,97, I44, I 8I
Naton, 2I3
NominaIwage,I2O
ObjectveFormoFthought,I 85
OveraccumuIationoFcaptaI,I73
OverproductionoFcommodites,I 73
PersonaIization,I 86, 235n.57
Personbcanon,63,88,I 85,235n.57
PrecaptaIstsocietes,I4
Prce,65F
Production, 3O, I I4
FactoroFproducton,I 82
meansoFproduction,I 6, IOO,I32,
I37, I 72, I 82
prcesoFproduction,I47I 84
productonperiod,I35F
reIationsoFproducton,I 83
Probt,I43B
ProbtoFenterprise,I57
ProIetariat,I4,I9
BateoFprobt,I O2,I44F
BeaIabstraction,49
BeaIwage,I2O
BeaIIyexstngsocaIism,22O
Beibcaton,78,I 84
Beproducton,I37B,I 69
simpIereproducton]expanded
reproducon,I38F
BuIeoFIaw,2O4
Say'sIaw, I 7I
Servces,44,I22,I34
SociaIsm,222
INDEX
Stock,I62F
Stockexchangequotations,I64
SubstanceoF value,49,53
SubsumptionoF Iaborundercapital,
FormaIandreaI,I I 8
SuIus vaIue, 87, 93, I OI
absoIutesurpIusvaIue,IO4,I I 8,I 5O
rateoFsurpIusvaIue,IOIF
reIativesurpIusvaIue,I O5,I I9,I28,
I 5O, I77
TayIorism,IO9
TheoryoFco!Iapse,I 75B
Theoryommiseraton,I27F
TheoryoFunderconsumpton,I 72
TheoryoFvaIue,42,46
monetarytheoryoFvaIue,63,84,I48
substantialsttheoryoFvaIue,54,57,
64
TmeoFcrcuIaton,I33,I35
TransFormatonprobIem,I48
TrntyFormuIa,I 75F
TurnoveroFcapitaI,I35
UsevaIue,39F
VaIorzation,I5, 85F
Valorzatonprocess,99F
VaIue33,42,52F,55F
VaIueForm,55,63
deveIopedFormoFvaIue,57
generaIFormoF vaIue,6O
relativeFormoFvaIue]equivaIentFon
oFvaIue,58
smpIeFormoF value,56
WeIFarestate,I 7O,2O7F
WrtschaFtswunder(EconomcMracIe),
I2I, I7O
WorIdmarket,2I 7