Wage Labour and Capital PDF ↠ Wage Labour ePUB

Wage Labour and Capital PDF ↠ Wage Labour ePUB

Wage Labour and Capital [Download] ➶ Wage Labour and Capital ✤ Karl Marx – Centrumpowypadkowe.co.uk Karl Heinrich Marx 5 May 1818 – 14 March 1883 was a German philosopher economic historian journalist and revolutionary socialist famous for developing Marxism a socialist movement that has been inco Karl Heinrich Marx May – March was a German philosopher economic historian journalist and revolutionary socialist famous for developing Marxism a socialist movement that has been incorporated by societies around the globe He published Wage Labour ePUB Ò various books during his lifetime with the most notable being The Communist Manifesto and Capital – many of which were co written with his friend the fellow German revolutionary socialist Friedrich EngelsThe text of Wage Labour and Capital came from lectures Marx delivered to the German Workmen's Club of Brussels in a time of great political upheaval The relationship between wage labour to capital is a core concept in Marx's analysis of political economy and its relationship with capitalism This book is an essential for anyone attempting to understand the development of Marxist theoryThis edition of Wage Labour and Capital is specially formatted with a Table of Contents.

  • Paperback
  • 45 pages
  • Wage Labour and Capital
  • Karl Marx
  • English
  • 03 April 2016
  • 9780828500593

About the Author: Karl Marx

Engels founded the Communist League in and published the Communist Manifesto After the failed revolution of in Germany in which Marx participated he eventually wound up in London Marx worked as foreign correspondent for several US Wage Labour ePUB Ò publications His Das Kapital came out in three volumes and Marx organized the International and helped found the Social Democratic Party of Germany Although Marx was not religious.

10 thoughts on “Wage Labour and Capital

  1. Trevor Trevor says:

    I had lunch with a group of friends a month or so ago It was the day that a speech was held at the Town Hall by the man our new government commissioned to write a report into climate change and what our response ought to be to itThese lunch things can get uite heated at times but not so much on this day What we really needed was a climate change sceptic to stir things up a bit As my friend Ian points out our only hope is that the sceptics are right and there is nothing to worry about – because if even the most conservative climate change scientists are right we are doomedWe were talking and the uestion came up as to whether Capitalism is capable of adjusting to such an extent that it does not continue to rely on ever expanding markets and exponential growth Marx fully answered that uestion about 150 years ago His answer was uneuivocal and it was noThis book is based on a series of newspaper articles Marx wrote in 1849 which Engels turned into a pamphlet after substantially editing the original in 1891 I don’t normally go into so much detail on the genealogy of a book but I find it fascinating that Engels spends so much time in his introduction worrying over this He also made changes to the Manifesto at some time after Marx’s death and I think poked around that too Given that Communists are supposed to be people who have only one absolute belief – that everything is and always will be in a state of flux – this desire to ensure the original words still exist eg “Moreover so many copies of the original text are in circulation that these will suffice until I can publish it again unaltered in a complete edition of Marx’s works to appear at some future time” Engels’s introduction strikes me as very strangeThis work is meant to be read by the uneducated masses – it is written in a style which would have been perhaps much accessible then than it appears now Even so it is no harder to follow than a Jane Austen novel – although much drier in content If it suffers from anything it is that his explanation of surplus value here relies too heavily on numbers He talks of six shillings of wages and twenty four shillings of machinery and after a while I am sure many people would have given up lost in a haze of numbers The idea is remarkably simple really Many people who have studied any economics at all will tell you that the price of something is determined by the laws of demand and supply – and naturally they are wrong Demand and supply are not enough on their own to explain the price of anything Classical economists claimed that the price of anything was the cost of labour that is expended in producing it And that sounds good but what is the price of labour itself? How is that determined? How can one work out a proper ‘wage’?Marx’s key insight is that the Capitalist only needs to pay the labourer enough money for the labourer to be able to reproduce his labour That is to feed himself and his family and to bring up his children The interesting implication of my use of ‘his’ here is the effect Marx predicted of women and children being brought into the workforce If you can raise a family on 10 a day and only the husband is working then the man’s wage – on average across society – will need to be 10 a day If women and children work the family wage will continue on average to be 10 per day This is not an argument for keeping women out of the workforce – but I think it is an argument that is confirmed by the life experience of many people today in two income households who seem no better off today than they were years ago in a one income householdI think Marx was much too concerned that people understand his theory of value and made the whole thing a bit too complicated The idea is simply that the cost to reproduce the labour of the labourer is much less than the value the labourer can produce if put to work during the day – so the labourer’s wages are always less than the value produced in exercising that labour The effect of this is to create a surplus of value which capitalists take for themselvesThis has many implications for capitalism in general Firstly it means that those producing stuff will by definition not be paid enough to be able to buy back what they produce One of Marx’s great insights was to show that every crisis of Capitalism is – for the first time in the history of the world – a crisis of over production Every other epoch lived in dread that there would not be enough – only under capitalism does having too much lead to economic collapse This is something Galbraith mentions in The Great Crash 1929 tooAs a society that is obsessed with competition and one that can only see the positive side of competition at that it is bracing to read Marx on the negative implications competition has for society Mostly this is what gets referred to as Marx’s theory of the alienation of labour What follows is the McCandless version Demand and supply mean that where there is demand and less supply there is money to be made Where there is money to be made capital will flow to seek to mop up that money If there are two capitalists producing the same thing and if the price of each article of that thing depends solely on how much labour is embodied in each article then the capitalist who can produce the thing with the least amount of labour contained in it will make the most profitSo capitalists because of competition are forever seeking to increase the productivity of labour thereby reducing the uantity of labour in any single item and thereby reducing the cost of every single item They do this by increasingly breaking down the tasks that need to be performed and by increasing the application of machinery to the productive process More skilled labour attracts a higher price – so capitalism seeks to make all labour unskilled labour that is cheap labour If today you need specialist skills to work – then tomorrow capitalism will create a machine and then you will only need to turn a handle or do something else eually moronic Marx saw this process of capitalist competition as being one that inevitably brings about the deskilling of labour And unskilled or semi skilled labour has no interest in what it produces It is alienated from its own work This labour literally sells its time to the capitalist – and as such does not see this ‘sold time’ as even part of the labourer’s ‘real’ life Think of those ‘working to live’ coffee cups There are those who thought Marx saw only the dignity of human labour – this really is a misreading of Marx I guess what he was seeking was to bring some dignity back into human labourNo sooner has the capitalist increased production than the competition also increases production – and the price of the thing produced is once again brought down to the cost of production To make a profit the capitalist must once again increase the productivity of labour – and thereby once again increase the deskilling of labour – and once again drive down the price of the goods producedThe implication of this is that Capitalism by its nature is premised on ever increasing the rate of production – ever increasing the amount of stuff produced What does this mean in a world uickly running out of resources? Clearly it means Capitalism is going to be the death of us after allThis is a remarkably short book and a remarkably easy book to read even in a single night It is available here and those wonderful people at Librivox have also recorded it as a talking book here fact that it is short and easy to read could be criticisms – but this is an excellent introduction to Marx’s ideas and by the man himself well or less – remember this is Engels’s redrafting

  2. Kevin Kevin says:

    The Good For those not ready for 1000 pages of Capital Vol 1 A Critical Analysis of Capitalist Production but want to read the words of “economic” Marx edited by Engels this pamphlet is uite helpful The last chapter Effect of Capitalist Competition on the Capitalist Class Middle Class and Working Class is the climax Of course the 8 previous chapters of abstraction were necessary but I always find application of theory to be its life and purpose for which Marx surely agrees and modern mainstream economists scorn Key points of the climax1 Capitalism has a systemic contradiction that leads to crisis capitalism is driven by profits but this is achieved through competition which lowers price to the cost of production thus sueezing profits all on an ever greater scale Note this assumption of competition reveals the Classical lineage that Marx is building fromcritiuing think Adam Smith who assumed markets would be freed from economic rent Other interesting perspectives here include capitalism's failure to free the market from economic rent Killing the Host How Financial Parasites and Debt Bondage Destroy the Global Economy various transitions of capitalism ie monopoly capitalism and other historical perspectives ex Fernand Braudel on capitalism as monopoly guaranteed by the State2 A result of competition is greater division of labor to save costs by maximizing efficiency and pay cheaper wages from deskilling This forces proletarianization as workers must work and are forced into the labor market Note if you can think of exceptions to this esp higher wages see imperialism in the section below3 Another result of competition is increased technology Increased automation sueezes the labor market while the increasing scale of technology sueezes capitalists with additional costscredit reuired 4 The outcome of capitalist competition is overproduction too many products to sell at a profit This can be resolved by new markets or by destruction which Marx does not detail here Think of WWII which saved global capitalism from the Great Depression by its creative destruction of stagnant capital and invention of the US Military Industrial Complex But the need for new and greater markets to satisfy the greater scale of production and greater credit reuired leads to “ freuent and violent” capitalist crises The Missing As you can see from the summary above this is a brief glimpse of the “economic” Marx; plenty of critiues on politics and moral philosophy to be found elsewhere I’ll have to play around with the abstract principles some Especially in social sciences the abstract one goes ie the sensory observations are stripped away in order to find core processes the I need to see observable experimentsexamples to back up each step Next steps1 More context ie what is scientific socialism? Socialism Utopian and Scientific2 The next stage of Marx? He intended but never lived long enough to include in his political economy analysis the state trade world market Thus imperialism is a crucial component to incorporate ie what happens when costs of connectivity for the global division of labor significantly decreases making the exploitation of foreign marketslaborresources affordable? Utsa Patnaik details this The Highest Stage of Capitalism3 Financedebtbanking The real force that pushed history to breakneck velocity was not the share market Share markets were simply not liuid enough to bankroll Edison sized ambitions At the turn of the 20th century neither the banks nor the share markets could raise the kind of money needed to build all those power stations grids factories and distribution networks To get those vast projects off the ground what was reuired was an euivalently sized network of credit Hand in hand shareholding and technology led to the creation of shareholder owned mega banks willing to lend to the new mega firms by generating a new kind of mega debt This took the form of vast overdraft facilities for the Thomas Edisons and the Henry Fords of the world Of course the money they were lent did not actually exist yet Rather it was as if they were borrowing the future profits of their mega firms in order to fund those mega firms’ construction Yanis Varoufakis Another Now Dispatches from an Alternative Present4 A modern and very accessible examination of capitalism Talking to My Daughter About the Economy or How Capitalism Works and How It Fails5 Post capitalism? Another Now Dispatches from an Alternative Present

  3. Morgane Morgane says:

    learned a lot about wages

  4. orion_scattered orion_scattered says:

    This essay actually brought me to tears It's one thing to read about a phrase like wage slavery in passing it's another to be explained exactly how the exploitation works What a depressing yet eye opening readMan this is it I've been grappling over the last few weeks about whether Leninism or Trotskyism or whatever other ism is right I still haven't decided that But an essay like this really does convince me Capitalism is evil and a total dead end besides I'm now a communistOk Read this book for an approachable yet detail explanation of the economics of capitalism There's no fancy philosophy here It's plain dry and to the point If you read this and don't think capitalism is wrong then you must be bourgeoise class and benefiting from it that's the only way I could imagine

  5. Tyler Tyler says:

    Classical political economy had got into a blind alley The man who found the way out of this blind alley was Karl Marx Engels' introduction to Wage Labour and CapitalWritten from Marx's lecture notes and edited by Engels after Marx's death this short pamphlet provides a great tour de force of Marx's economics It reads extremely well it is so simple as to seem like self evident facts with Marx's cool metaphors guiding along exposing the ridiculous childish mistakes of past economist Smith Ricardo Baptiste Say etcThis is essentially Marx's Capital for dummies It explains the inherent contradictions of capital fairly removed from dialectics and heady philosophy in a way that a toddler can grasp Relations between workers money wage and capitalists are spelled out with their implications very clear Namely that the division of society into a small excessively rich class and a large propertyless class of wage workers results in a society suffering from its own superfluity while the great majority of its members is scarcely or not even at all protected from extreme want This state of affairs becomes daily absurd and unnecessary It must be abolished or can be abolished

  6. Griffin Wilson Griffin Wilson says:

    An excellent introduction into the economic theories of Karl Marx He would later go on to elaborate on everything proposed here in his 3 volume magnum opus Das Kapital; however here you will find or less the fundamental essentials of his thoughtHe writes at the beginningWe shall seek to portray this as simply and popularly as possible and shall not presuppose a knowledge of even the most elementary notions of political economy We wish to be understood by the workersIn my view he lives up to this statement and I can therefore highly recommend this work although I do not necessarily agree with the whole of its content or a large portion of his thought in general

  7. Willow L Willow L says:

    A good introduction but the last part where Marx puts forward his law of increasing misery of the working class is wrong and will put people off Marx

  8. Pooja Pooja says:

    Great book I think everyone should read it

  9. Christie Neary Christie Neary says:

    An eminently readable book and a very good introduction to Marx’s economic works Written with the intent of being read by and fully understood by workers at the time of Marx it presupposes no knowledge of political economy and does a very good job of lucidly explaining several core concepts that serve as some of the building blocks of Marx’s later work

  10. Debarun Debarun says:

    This is a uick readJust my notesWhat are wages?Wages is what a labor gets in return of his sell of labor power He isn't sold whole like a slave but is a free labor ie he sells a fraction of himselfBy what is the price of a commodity determined? In relation to the cost of production obviously but the coorelation is not watertight fluctuation is the game of town For the price of a commodity is also determined by the supply and demand chain and in the process is related to the price of other commodities in the market for the price is always in relation to something else a matrix of commodities just like the Saussurean signThe Nature and Growth of CapitalBut though every capital is a sum of commodities – ie of exchange values – it does not follow that every sum of commodities of exchange values is capitalHow then does a sum of commodities of exchange values become capital?Thereby that as an independent social power – ie as the power of a part of society – it preserves itself and multiplies by exchange with direct living labour powerIt is only the dominion of past accumulated materialized labour over immediate living labour that stamps the accumulated labour with the character of capitalCapital does not consist in the fact that accumulated labour serves living labour as a means for new production It consists in the fact that living labour serves accumulated labour as the means of preserving and multiplying its exchange valueRelation of Wage Labour to CapitalBut neither the nominal wages – ie the amount of money for which the labourer sells himself to the capitalist – nor the real wages – ie the amount of commodities which he can buy for this money – exhausts the relations which are comprehended in the term wagesWages are determined above all by their relations to the gain the profit of the capitalist In other words wages are a proportionate relative uantityReal wages express the price of labour power in relation to the price of commodities; relative wages on the other hand express the share of immediate labour in the value newly created by it in relation to the share of it which falls to accumulated labour to capitalThe General Law that Determines the Rise and Fall of Wages and ProfitsThey stand in inverse proportion to each other The share of profit increases in the same proportion in which the share of labour wages falls and vice versa Profit rises in the same degree in which wages fall; it falls in the same degree in which wages riseThe improvements of machinery the new applications of the forces of nature in the service of production make it possible to produce in a given period of time with the same amount of labour and capital a larger amount of products but in no wise a larger amount of exchange valuesThe Interests of Capital and Wage Labour are diametrically opposed effect of growth of productive Capital on WagesProfit and the growth of capital is related to the lowering of relative wage albeit the real wage may rise But this process happens only if the real wages don't rise as uickly as the profits riseIn what manner does the growth of productive capital affect wages?Given division of labour and machinery and there results a greater scale upon which division of labour and machinery are exploited And competition again brings the same reaction against this resultHence as he mentions in next chapter method of production and the means of production are constantly enlarged revolutionized how division of labour necessarily draws after it greater division of labourEffect of Capitalist Competition on the Capitalist Class the Middle Class and the Working Classcompetition seeks to rob capital of the golden fruits of this power by reducing the price of commodities to the cost of production; in the same measure in which production is cheapened hence the rise of monopolies and the demise of the petite bourgoise which in the process increases the pool of labourers in effect decreasing the relative wage furtherThat is but this notwithstanding the rapid growth of capital is the most favorable condition for wage labour Marx's tone in that last sentence P

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