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D!IOUuC!IOD
MyaimistogetyoutoreadabookbyKarlMarxcalledCap|/a/, Volume
, andto readitonMarx'sown terms.` Tis may seem abit ridiculous,
sinceifyouhaventyetreadthebookyoucantpossiblyknowwhatMarx's
terms are,but one ofhis terms, can assureyou,isthat you read, and
read carefully. Real learningalways entails a struggle tounderstandthe
unknown.Myownreadings ofCap|/a/, collectedinthe presentvolue,
willprovefarmoreenlighteningifyouhavereadthe pertinent chapters
beforehand.H isyourown personal encounterwiththistextthat want
toencourage,andbystrugglingdirectlywithMarx'stext,youcanbegin
toshapeourownunderstandingofhisthought.
This poses an immediate dimculty. Everybody has heard of Karl
Marx,oftermslike"Marxism and"Marxist,'andthere are allkinds of
connotationsthatgowiththosewords.Soyouareboundtobeginwith
preconceptionsandprejudices,favorableorotherwise,but hrsthaveto
askyoutotry,asbestyoucan,toset asideallthosethingsyou/h|nk you
knowaboutMarxsothatyoucanengagewithwhatheactuallyhastosay.
Terearestillotherobstaclestoachievingthissortofdirectengagement.
Wearebound,forexample,toapproachatextofthiskindbywayofour
particular intellectual formations and experiential histories. For many
students these intellectual formations are adected, if not governed, by
academicconsiderationsandconcerns,thereisanaturaltendencytoread
Marxfrom aparticularandexclusionarydisciplinarystandpoint.Marx
himselfwouldneverhavegottentenureatauniversityinanydiscipline,
andtothisdaymostdepartmentalapparatusesaredisinclinedtoaccept
him as oneoftheir own. Soifyou are agraduatestudent andwantto
readhimright,thenyou'd betterforget aboutwhatwillgetyoutenure
inyourheldnotinthelongrun,ofcourse,butatleastforthepurpose
ofreadingMarx.You have, in short,to struggle mightily to determine
whatheissayingbeyondwhatyoucaneasilyunderstandbywayofyour
!. KarIMarx,Cuitu/: A Critiquc o[Po/iticu/ Lconom], VoIumc!,trans.8cn
Fowkcs(London.PcngunCIasscs,!0). Futurcrctcrcnccstothsworkarcctcd
wthpagcrctcrcnccsonIy.

?
A COMANION TO MARX S CA!IA1
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ICICC
WhcntbccamcknownthatthcIccturcs!gvcannuaIIyonMarx'sCap|/a/,
VoIumc!,wcrcabouttogo onIncasavdco scrcs,!wasapproachcdby
Vcrsoandaskcdwhcthcr!wouIdhavcanyntcrcstnprcparngawrttcn
vcrson.Foravarctyotrcasons,! agrccdtothcdca.
1o bcgnwth,thctaIngcconomyandthconsctotwhat thrcatcnsto
bc ascrousgIobaIcrss,tnot dcprcsson,havc gcncratcd an upwcIIng
otntcrcst nMarx's anaIyssto scc whcthcrt canhcIpusundcrstandthc
orgnsotourcurrcntprcdcamcnts.JcprobIcm,howcvcr,sthatthcpast
thrtyycars,mostpartcuIaysnccthctaIotthc 8crInWaandthccnd
otthccoIdwar,havcotbccnavcrytavorabIcortcrtiIcpcriodtorarxian
thought, and most ccrtanIy not tor Marxan rcvoIutonary poItcs. As a
conscgucncc,awhoIcyoungcrgcncratonhasgrownupbcrchottamIarty
wth,IctaIonctranngn,MarxanpoItcaIcconomy. Hthcrctorcappcarcd
an opportuncmomcnttoproduccagudcto Cap|/a/ thatwouIdopcnthc
doortorthsgcncratontocIorctortscItwhatMarxmghtbcabout.
Jhctmngtoraconstructvc rccvaIuton otMarx'sworks opportunc
n anothcr scnsc. Jhc hcrcc oppostons and nnumcrabIc schsms wthn
thc Marxst movcmcntthatbcdcIcdthc;cs,ahcctngnotonIypoItcaI
practccs but aIso thcorctcaI orcntatons, havc tadcd somcwhat, as has
thc appcttc tor purc acadcmcsm whch,on thc onc hand, hcIpcd kccp
ntcrcstnMarxaIvcndcuIttmcs,but,onthcothcr,ddsoatthcprcc
otarcanc andohcnhghIyabstractargumcntsandrchcctons.My scnsc s
thatthoscwhowshto rcadMarxnowarctar morcntcrcstcdnpractcaI
cngagcmcnts,whchdocsnotmcanthcyarctcarmIotabstractonsbutracr
thatthcyhnd acadcmcsm borngandrrcIcvant.Jhcrcarcmanystudcnts
andactvstswhodcspcratcIydcsrcastrongthcorctcaIbasctobcttcrgrasp
howcvcrythngrcIatcstocvcrythngcIsc,soastostuatcandcontcxtuaIzc
thcr own partcuIar ntcrcsts and practcaI poItcaI work. ! hopc that ths
prcscntatonotthcbascsotMarxanthcorywhcIpthcmdothat.
!nprcparngthstcxt,!workcdtromtranscrptsprcparcdbyKatharna
8odrsky to whom manythanks) otthc audo rccordng otthc Iccturcs
gvcn n thc sprng ot zcc;. Jhc vdco Iccturcs scc davdharvcy.org),
organzcdbyChrsCarusowhoaIsodcsgncdthcwcbstc) andhImcdby
LODlCDlS
PREFACE
INTROOCTION
Ca/ta|, Iart |
1. COMMODITIES AND EXCHANGE
2. MONEY
Ca/ta|, Iart ||
{

1W L11 1 111 111
Ca/ta|, Iart |||

: THE LABOR PROCESS AND THE

PRODUCTION OF SURPLUS VALUE
}: THE WORKING DAY
Ca/ta|, Iart |V
6 RELATIVE SURPLUS-VALUE
). WHAT TECHNOLOGY REVEALS
8: MACHINERY AND LARGE-SCALE INDUSTRY
Ca/ta|, Iart V-VH|
: FROM ABSOLUTE AND RELATIVE SURPLUS-
VALUE TO THE ACCUMULATION OF CAPITAL
1o: CAPITALIST ACCUMULATION
11. THE SECRET OF PRIMITIVE ACCUMULATION
REFLECON5ANOPROGNO5E5
INOE
VII
1
1}
}}
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}
CHAPTER ONE
LOmmOO!C8 8nO XCH8n_C
CHAPTER 1. THE COMMODITY
Scc/lcn Csc- \a/uc and \a/uc
Lctmcbcgn byIookngat thc hrst sccton otcptcr1 n consdcrabIc
dctaI.!dosonpartbccauscMarxhcrcIasouttundamcntaIcatcgorcs
nana prlcrl andsomcwhatcrptc,takc-t-or-cavc-ttashonthatcouId
dowthcIaboraton. 8ut ! am aIso ntcrcstcd ngcttngyou, as guckIy
as possbIc, tamIar wh thc knd ot cIosc rcadng ot Capl/a/ that s
ncccssary tyouarcto undcrstandt.Oontworry,!wIInotcontnucat
thsIcvcIotntcnsty
Jc commodty s

arx's a prlcrl bcgnnng pont. "Jc wcaIth ot

socctcs n whch thc captaIst modc otproducton prcvaIs,' hc says,
"appcars as an mcnsc coIIccton ot commodtcs', thc ndvduaI
commodty appcars s ts cIcmcntarytorm.urnvcstgaton thcrctorc
bcgnswththcanaIyssotthc commodty z). 8ut notcc somcthng
about thc Ianguagc.ppcars occurs twcc n thc passagc, and, pIanIy,
"appcarss notthcsamc as "s.'Jc chocc ot thsword-andwatchout
tort,bccauscMaxmakcstrcgucntuscotttroughout-sgnaIs
thatsomcthng cIsc sgong onbcncaththc surtacc appcarancc.Wcarc
mmcdatcIynvtcd to thnk about what ths mghtbc.Notcc aIso that
Marx s cxcIusvcIy conccrncd wth thc captaIst modc otproducton.
Hc snot conccrncdwthanccntmodcs otprod

cton,socaIst modcs
otproductonorcvcnhybrdmodcsotproducton,butwthacaptaIst
modc ot producton n a prctty purc torm. !t s aIways mportant to
rcmcmbcrthsnwhattoIIows.
StartngwthcommodtcsturnsouttobcvcryusctuIbccausccvcryonc
has daIy contact wth and cxpcrcncc ot thcm.Wc arc surroundcd by
thcm atcvcrturn,wc spcndtmc shoppng torthcm,Iookng at thcm,
wantng thc or spurnng thcm. Jc commodty torm s a unvcrsaI
prcscncc wthn a captaIst modc otproducton. Marx has choscn /hc
common dcnomnator, somcthngthatstamIarand common to usaII,
2 A COMANION TO MARX'S CA!IA1
partcuar dscpnary apparatus,your own ntccctua tormaton and,
cvcnmorcmportant,yourown cxpcrcntahstorywhcthcrasaabor
orcmmuntyorganzcroracaptaIstcntrcprcncur).
nc mportant rcason tor takng such an opcn stancc toward ths
rcadng s that Cap|/a/ turns out to bc an astonshngIy rch book.
Shakcspcarc, thc Grccks,Faust,8aIzac, Shccy, tary taIcs,wcrcwovcs,
vamprcs and poctry a turn up n ts pagcs aongsdc nnumcrabc
poItcaI cconomsts, phIosophcrs, anthropoIogsts, journaIsts and
poItcaIthcorsts.Marxdrawsonanmmcnscarrayotsourccs,andtcan
bcnstructvcandtun-totrackthcscdown.Somcotthcrctcrcnccscan
bc cIusvc,as hc ohcn taIsto acknowIcdgcthcm drccty, ! uncovcryct
morcconncctons as ! contnuc to tcach Cap|/a/ ovcr thcycars.Whcn !
hrststartcd!hadnotrcadmuch8aIzac,torcxampIc.Latcr,whcnrcadng
8aIzac'snovcIs,!tundmyscItohcnsayng,h,that'swhcrcMarxgott
tromHcapparcntIyrcad8aIzaccomprchcnsvcyandhadthcambton
towrtcatuI studyotthc Ccmcd|c Huma|nc whcnhcgotthroughwth
Cap|/a/. RcadngCap|/a/ and8aIzactogcthcrhcIps cxpanwhy.
So Cap|/a/ s a rch and mutdmcnsonaI tcxt. !t draws on a vast
cxpcrcnta worId as conccptuazcd n a grcat dvcrsty ottcraturcs
wrttcnnmanyIanguagcsatdhcrcntpaccsandtmcs.!amnotsayng,!
hastcntoadd,thatyouwIInotbcabIctomakcscnscotMarxunIcssyou
gct a thc rctcrcnccs.8utwhat docs nsprc mc,and ! hopcwI nsprc
you,stcdcathatthcrcsan mmcnscarrayotrcsourccs outthcrcthat
can shcdIghtonwhywcIvcItcthcwaywc do. !nthc samc waythataII
otthcm arc grst torMarx's mII otundcrstandng,sowc, too, can makc
thcm grsttorourown
ou w aso ndthat Cap|/a/ s an astonshngygoo boo,ust as
a acck. Whcn rcad as a whoc, t s an cnormousy gratpng Itcrary
costructon8utwchcrchndmorcpotcntaIbarrcrstoundcrstandng,
bcauscmanyotyouwIIhavc cncountcrcdandrcadbtsotMarxnthc
coursc otyour cducaton. Maybcyou rcad thc Ccmmun|s/ Manqcs/c n
hgh schoo Maybc you wcnt through onc ot thosc courscs on socaI
thcory, spcndng two wccks on Marx, a coupIc on Wcbcr, a tcw on
Ourkhcm, FoucauIt and a host ot othcr mportant charactcrs. Maybc
you havc rcad cxccrpts trom Cap|/a/ or somc thcorctcaI cxposton ot,
say, Marx's poItcaI bcIcts. 8ut rcadng cxccrpts or abstract accounts
s cntrcIy dhcrcnt trom rcadng Cap|/a/ as a compIctc tcxt.You start
to scc thc bts and pcccs n a radcaIIy ncw Ight, n thc contcxt ot a
lNTRODUCTlON j
much grandcrnarratvc.It s vtaI to pay carctuI attcntonto thc grand
narratvc and to bcprcparcd to changc your undcrstandng otthc bts
andpcccs orthcabstractaccountsyoucarIcrcncountcrcd.MarxwouId
aImost ccrtanIywanthswork to bcrcad as atotaIty. HcwouId objcct
voctcrousIyto thc dca that hccouIdbcundcrstood adcguatcIybyway
otcxccrpts,no mattcr how stratcgcaIIychoscn.Hc wouId ccrtanIynot
apprccatcjusttwowccksotconsdcratonn an ntroductorycourscon
socaIthcory,anymorcthanhcwouIdhmscIthavcgvcnovcramcrctwo
wccks to rcadngAdam Smth.YouwIIaImostccrtanIyarrvc atagutc
dhcrcnt conccptonotMarx's thoughttrom rcadng Cap|/a/ as awhoIc.
8utthatmcansyouhavcto rcadthcwhoIcbookasa book-andthats
what!wanttohcIpyoutodo.
Jcrc |s a way n whch ntcIIcctuaI tormatons and dscpInary
standponts not onIy mattcr but aIso provdc hcIptuI pcrspcctvcs
on Cap|/a/. ! am, ot coursc, aganst thc sort ot cxcIusonary rcadngs
aroundwhch studcnts aImostnvarabIyorganzcthcrundcrstandngs,
but ! havc Icarncd ovcr thc ycarsthat dscpInary pcrspcctvcs can bc
nstructvc.!havctaught Cap|/a/ ncarIycvcryycarsncc1y)1,somctmcs
twccorcvcnthrcctmcsnasngIcycar,togroupsotaIIknds.ncycar
t waswththcwhoIcphIosophydcpartmcnt-somcwhat HcgcIan-ot
whatwasthcncaIIcdMorganStatcCoIIcgcn8aItmorc,anothcrycart
was aIIthcgraduatcstudcntsn thc EngIsh program at Johns Hopkns,
anothcr ycar t was manIy cconomsts who showcd up.What camc to
tascnatcmcwasthat cach groupsawdhcrcntthngsn Cap|/a/. !tound
myscItIcarnngmorcandmorcaboutthctcxttrom workngthrought
wthpcopIctromdhcrcntdscpIncs.
8ut somctmcs ! tound that Icarnng cxpcrcncc rrtatng, cvcn
pantuI, bccausc a partcuIar group wouId not scc t myway or wouId
nsst on gong ohonto topcs ! thought rrcIcvant. nc ycar ! trcd to
rcad Cap|/a/ wthagrouptromthcRomancc-IanguagcsprogramatJohns
Hopkns.1o myntcnsctrustraton,wc spcntaImostthcwhoIc scmcstcr
onchaptcr1. !'dkccpsayng,"Look,wchavcto movconand gct at Icast
astarasthcpoItcsotthcworkngday,'andthcy'd say,"No,no,no,wvc
got to gct ths rght.What s vaIuc What docs hc mcan by moncy as
commodty What s tctsh about and so on. Jcy cvcn brought thc
Gcrman cdton aIong just to chcck thc transIatons. H turncd out thcy
wcrc aII workng n thc tradton ot somcbody ! had ncvcr hcard ot,
(
A COMPAMIOM TO MARX'S CAPI7AI
somcbodywho ! thoughtmustbcapoItcaItnotntcIIcctu dot tor
sparkng ths knd ot approach. Jat pcrson was acgucs Ocrrda,who
spcnt tmc at Hopkns durng thc Iatc 6os and carIy ;o.Rchcctng
on hs cxpcrcncc ahcrward, ! rcaIzcd ths group had taught mc thc
vtaImportanccotpayngcarctuIattcntontoMarx`sIanguagc-whathc
says,howhcsaystandwhat,aIso,hctakcstorgrantcd-justtromgong
throughchaptcrwthahnctoothcdcomb.
8ut don`tworry! dot ntcndto do thatn thcsc rcadngsbccausc
notonIydo ! want to covcrMarx`s dscussonot thcworkng day, ! am
dctcrmncd to scc you through to thc cnd ot thcvoIumc. Mypont s
smpIy that dhcrcnt dscpInary pcrspcctvcs can uscmIIy opcn up
thc muItpIc dmcnsonsot Marx`s thought, prccscIy bccausc hc wrotc
ths tcxt out ot such an ncrcdbIy dvcrsc and rch tradton ot crtcaI
thnkng.! am ndcbtcdtothcmanyndvdusandgroupswthwhom
!havcrcadthsbookovcrthcsc manyycars,prccscIybccauscthcyhavc
taught mc so much aboutaspcctsotMarx`s workthat!wouId ncvcrhavc
rccognzcdonmyown. For mc, thatcducatonsncvcr-cndng.
Now, thcrc arc thrcc major ntcIIcctuaI and poItcaI tradtons that
nsprcthcanaIyssIadoutnCa//a|, andthcyarcaIIpropcIIcdbyMarx`s
dccp commtmcnt to crtcaI thcory, to a crtcaI anaIyss.Whcn hcwas
rcIatvcIyyoung,hcwrotcaIttIc pccc to oncot hs cdtoraI coIIcagucs,
thcttIcotwhchwas"ForaRuthIcssCrtcsmotEvcrythngJhatExsts.`
CIcarIy,hcwasbcngmodcst-and!dosuggcstthatyouactuaIIygorcad
t,bccausctstascnatng.Hcdocsn`ts,"Evcrybodysstupdand1,thc
grcat Marx, am gong to crtczc cvcrybody out ot cxstcncc.` !nstcad,
hcargucsthatthcrchavc bccn aIototscrouspcopIcwhohavcthought
aboutthcworIdhard,andthcyhavcsccn ccrtanthngsaboutcworId
thathavctobcrcspcctcd,nomattcrhowonc-sdcdorwarpcd.JccrtcaI
mcthod takcs what othcrs havc sad and sccn and works on t so as to
transtormthought-andthcworIdtdcscrbcs-ntosomcthngncw.For
Marx,ncwknowIcdgcarscsoutottakngradcaIIydhcrcnt conccptuaI
bIocs, rubbng thcm togcthcr and makng rcvoIutonary hrc. Jns s n
chcctwhathcdocs n Ca//a|: hcbrngstogcthcr dvcrgcnt ntcIIcctuaI
tradtons to crcatc a compIctcIy ncw and rcvoIutonary tramcwork tor
knowIcdgc.
JhcthrccgrandconccptuaItramcworksthatconvcrgc n Ca//a| arc
thcschrst,cIasscaIpoItcaIcconomy-scvcntccnth- tomdnnctccnth-
ccnturypoItcaI cconomy. Jns s manIy8rtsh,though not soIcIy so,
INTRODUCTION j
and t runs tromWIIamPctty, Lockc, Hobbcs and Humc to thc grand
tro otAdam Smth,MaIthus andRcardo,aswcIIasto ahostotothcrs,
IkcJamcsStcuart.JcrcwasaIsoaFrcnchtradtonotpoItcaIcconomy
Physocrats Ikc ucsnay and 1urgot and Iatcr on Ssmond and Say)
as wcII as ndvduaI !taIans and Amcrcans Ikc Carcy) who provdc
MarxwthaddtonaI crtcaI matcraIs.Marx subjcctcd aII thcsc pcopIc
to a dccp crtcsm n thc thrcc voIumcs otnotcs now caIIcd 1ccr/cs
c{ Sur|us \a|uc. Hc ddnthavcaphotocopyng machnc andhc ddnt
havc thcWcb, so hc IaborousIy copcd out Iong passagcs trom Smth
andthcnwrotca commcntaryonthcm,IongpassagcstromStcuartand
acommcntaryonthcm,and soon.!n chccthcwas practcngwhatwc
now caII dcconstructon, and ! Icarncd trom Marxhow to dcconstruct
argumcnts n ths way. Whcn hc takcs on Adam Smth, tor cxampIc,
Marxacccpts muchotwhatSmthsaysbutIhcn scahcs tothcgapso
contradctons whch, whcn rccthcd, radcaIIytranstormthc argumcnt.
Js knd otargumcntaton appcars throughout Ca/ta| bccausc, as ts
subttIcndcatcs,tsshapcdaroundacrtgucotpoItcaIcconomy.`
Jc sccond conccptuaI buIdng bIock n Marx's thcorzng s
phIosophcaI rchccton and ngury,whch tor Marx orgnatcs wth thc
Grccks.MarxwrotchsdsscrtatononEpcurus,andhcwastamIarwth
Grcckthout.ArstotIc,asyouw scc,provdcsatrcgucntanchortorhs
argumcnts.MarxwasaIso thoroughIytrancdn thcway n whch Grcck
thout camc nto thc manIy Gcrman phIosophcaI crtcaI tradton
Spnoza,Lcbnzand,otcoursc,HcgcI,aswcIIasKantandmanyothcrs.Marx
putsthsmanIyGcrmancrtcaIphIosophcaItradtonntoarcIatonshp
wththc8rtshandFrcnchpoItcaI-cconomctradton,though,agan,t
wouId bc wrong smpIy to scc ths n tcrms otnatonaItradtons Humc
was, ahcraII,as much a phIosophcr-aIbct an cmprcst -as hc was a
poItcaIcconomst,andOcscartcs`andRousscau's nhucncconMarxwas
aIso substantaI). 8ut thc manIyGcrman crtcaIphIosophcaItradton
wcghcd hcavIyon Marx bccausc that was hs ntaI tranng. And thc
crtcaI cImatc gcncratcdbywhatIatcr camc to bcknown as thcyoung
HcgcIansnthc8]osand8(osnhucnccdhmgrcatIy.
Jc thrd tradtontowhch Marx appcaIs s thatotutopansocaIsm.
!nMarx`stmc,thswasprmarIyFrcnch,aIthoughtwasanEngIshman,
Jomas Morc, who s gcncraIIy crcdtcd wth orgnatng thc modcrn
tradton-thought,too,gocsbacktothcGrccks-andanothcrEngIshman,
Robcrtwcn,whonotonIywrotccopousutopantractsbutactuaIIysout
A COMPAMIOM TO MARX'S L11
toputmanyofhisidcasintopracticcinMarx`slifctimc.ButinFranccthcrc
wasatrcmcndousburstofutopianthinkinginthc8]osand8(os,inspircd
largcly by thc carlicr writings of Saint-Simon,Fouricr and Babcuf. Jcrc
wcrc,for cxamplc, pcoplc likc Lticnnc Cabct,who crcatcd a group calcd
thc !carians, which scttlcd in thc Lnitcd Statcs ahcr 8(8, Proudhon and
thcProudhonists,AugustBlangui(whocoincdthcphrasc"dictatorshipof
thc prolctariat") and many ikc him who adhcrcd to a acobin tradition
(such as that of Babcuf), thc Saint-Simonian movcmcnt, Fouricrists likc
Victor Considcrant, and socialist fcminists likc Flora Jristan. And it was
in thc 8(os in Francc that many radicals, for thc hrst timc, carcd tocal
thcmsclvcscommunists,cvcnthoughthcyhadnoccar idca of whatthat
mightmcan.Marxwasvcryfamiliarwith,ifnotimmcrscdin,thistradition,
particuaywhcninParisbcforchiscusionin8((,and!thinkthathc
draws from it morc than hc willingly acknowlcdgcs Lndcrstandaby hc
wantcd to distancc himsclf from thc utopianism of thc 8]os and 8(os,
whichhcfcltaccountcdinmanywaysforthcfailurcsof thcrcvoutionof
8(8inParis.Hcdidntlikcitwhcnutopiansconhgurcdsomcidcalsocicty
without any idca of how to gct from hcrc to thcrc, an opposition madc
clcarinthcCcmmun/s/ Man]cs/c. Hcthcrcforcohcnprocccdsinrcation
tothciridcasbymcansofncgation,particularywithrcspccttothcthought
ofFouricrandProudhon.
Jhcsc arc thc thrcc main conccptua thrcads that comc togcthcr in
Marx`s Ca//a/. His aim is to convcrt thc radical political projcct from
what hc considcrcd a rathcr shalow utopian socialism to a scicntihc
communism.Butinordcrtodothat,hccantjustcontrastthcutopianswith
thepoliticaleconomists.Hchastorc-createandrecongurcwhatsociaI
scientic mcthod is all about. rudely put, this new scientic mehod
is prcdicatcd on thc intcrrogation of thc primariyBritishtradition of
classicapoliticalcconomy,usingthctoolsofthcmainyGcrmantradition
ofcriticalphilosophy,alapplicdtoilluminatcthcmainyFrcnchutopian
impulscinordcrtoanswcrthcfoowinggucstions:whatiscommunism,
and how should communists think How can wcboth undcrstand and
critiguccapitalism sc/cn/]ca//) inordcrtochartthcpath to communist
rcvolution morc chcctivcly As wc wil scc, Ca//a/ has a grcat dcal to
sayaboutthcscicnticundcrstandingofcapitalismbutnotmuchtosay
abouthowtobuildacommunistrcvoution.orwiwchndmuchabout
whatacommunistsocictywoudooklikc.

INTRODUCTION
I havc alrcady addrcsscd somc of thc barricrs to rcading Ca//a/ on
Marx`sowntcrmsMarx himsclf wasalltooawarc ofthcdiculticsand,
intcrcstingly,commcntcd onthcminhis various prcfaccs.Inthcprcfacc
to thc Frcnch cdition, for cxamplc, hc rcacts to thc suggcstion that thc
cdition should bc brought out in scrial form. "I applaud thc idca of
publishingthctranslationofCa//a/ asascrial,`hcwrotcin8z.
In this form thc book will bc morc acccssiblc to thc working clas, a
considcrationwhichtomcoutwcighscvcrythingclsc. . . Tatisthcgood
sidcof yoursuggcstion,but hcrcis thcrcvcrscoI thcmcdal thcmcthod
oI analysis which I havc cmploycd, and which had not prcviously bccn
applicd to cconomic subjccts, makcs thc rcading oI thc rst chaptcrs
rathcr arduous, and it is to bc Icarcd that thc Frcnch public, always
impaticnttocomctoaconclusio,cagcrtoknowthcconncctionbctwccn
gcncral principlcs and thc immcdiac qucstions that havc arouscd thcir
passions,maybcdishcartcncdbccauscthcywillbcunablctomovconat
oncc. . . TatsadisadvantagcIampowcrlcsstoovcrcomc,unlcssitbcby
forcaning and forcarming thosc rcadcrswho zcalously scckc truth.
Tcrc is no royal road to scicncc,and only thosc who do not drcad thc
Iatiguing climb of its stccp paths havc achancc oI gaining itsluminous
summits.(o)
SoI,too,havctobcginbywarningarcadcrsofMarx,howcvcrzcalously
conccrncdwiththcpursuitoftruth,thatycs,indccd,thchrstfcwchaptcrs
of Ca//a/ arc particularly arduous. Jcrc arc two rcasons for this. nc
conccrnsMarx`smcthod,whichwc`llconsidcrfurthcrshortly.Jhcothcr
hastodowiththcparticularwayinwhihhcsctsuphisprojcct.
Marx`saiminCa//a/ istoundcrstandhowcaitalismworksbywayof
acritigucofpliticalcconomy.Hcknowsthisisgoingtobcancnormous
undcrtaking.Inordcr togct thatprojcctundcrway,hchas to dcvclopa
conccptualapparatusthatwillhclphimudcrstandathccomplcxityof
capitalism,adinoncofhisintroductionshccxplainshow

cplanstogo
aboutthat."Jcmcthodof prcscntation,` hcwritcsinthcpostfacc tothc
sccondcdition,"mustdihcrinformfromthatofinguiry":
Tclattcrhastoappropriatcthcmacrialindctail,toanalyscitsdihcrcnt
forms of dcvclopmcnt and to track down thcir inncr conncction. Only
acr this work has bccn donc can thc rcal movcmcnt bc appropriatcly
prcscntcd.II hisisdoncsucccsslly,iI thcliIcoI thcsubjcct-mattcr c.,
8 A COMPA~JO~ TO MARX'S L11
thccapitalistmodcoI production isnowrccctcdbackinthcidcas,thcn
itmayappcarasiI wchavcbcIorcusanaprioriconstruction.cz)
Marx`s mcthod of inguiry starts with cvcrything that cxists-with
rcalityasit`scxpcricnccd,aswcllaswithallavailablcdcscriptionsofthat
cxpcricncc by political cconomists,philosophcrs,novclists and thc likc.
Hcsubjcctsthatmatcrialtoarigorouscriticisminordcrtodiscovcrsomc
simplcbutpowcrIul conccptsthat illuminatcthcwayrcalityworks.Jis
iswhathccallsthcmcthodoI dcsccnt-wcprocccdIromthcimmcdiatc
rcaty aroundus, looking cvcr dccpcr Ior thc conccpts fundamcntal to
that rcality. Lguippcd with thosc Iundamcntal conccpts, wc can bcgin
workingback to thcsurfacc-thcmcthodoI asccntanddiscovcrhow
dcccivingthcworldoIappcaranccscanbc.Fromthisvantagc,wcarcina
positiontointcrprctthatworldinradicallydihcrcnttcrms.
!ngcncral,Marx starts with thc surIacc appcarancc to hnd thc dccp
conccpts. !n Ca//a/, howcvcr,hcbcginsby prcscnting thc Ioundational
conccpts,conlusionshc`s alrcady dcrivcd by cmploying his mcthod of
inguiry.Hcsimplylaysouthisconccptsinthc opcning chaptcrs,dircctly
and in rapid succcssion, in a way that indccd makcs thcm look likc a
r/cr/, cvcn arbitrary constructions So,onhrstrcad,itisnotunusualto
wondcr: whcrc on carth arc all thcsc idcas and conccpts coming Irom
Why is hc using thcm in thc way hc docs Half thc timc you havc no
idca what hc is talking about.But as you movc on through thc book, it
bccomcs clcar how thcsc conccpts indccd illuminatc our world.Ahcr a
whilc,conccptslikcvalucandfctishismbccomcmcaningful
ctwconlyIully undcrstand how thcscconccptsworkbythc cndoI
thc book ow, thats an unfamiliar, cvcn pcculiar, stratcgy.Wc arc far
morcfamiliarwithanapproachthatbuildsthcargumcntbrickbybrick.
WithMarx,thcargumcntismorconion-likc.Maybcthismctaphorisan
unIortunatconc,bccausc,assomconconccpointcdouttomc,whcnyou
disscctanonion,it rcduccsyoutotcars.Marxstartsfrom thcoutsidcoI
thc onion,moving through laycrs oI cxtcrnl rcality to rcach its ccntcr,
thcconccptualcorc.Jcnhcgrowsthcargumcnt outward again,coming
backtothcsurIaccthroughthcvariouslaycrsofthcory.JhctrucpowcroI
thcargumcntonlybccomcsclcarwhcn,havingrcturncdto thcrcalmoI
cxpcricncc,wchndoursclvcscguippcdwithan cntirclyncwIramcwork
oI knowlcdgc Ior undcrstanding and intcrprcting that cxpcricncc. By
thcn,Marx has also rcvcalcd a grcat dcal about what makcs capitalism
lNTRODUCTlON Q
grow in thc way it docs.!n thisway,conccpts that at hrstsccm abstract
anda r|cr| bccomccvcrrichcrandmorcmcaningful,Marxcxpandsthc
rangcof hisconccptsashcgocson.
Jis is dihcrcnt from thcbrick-by-brickapproach,anditisnot casy
toadaptto.Whatthismcansinpracticcis thatyouhavctohang onlikc
crazy,particularlythroughthchrstthrccchaptcrs,withoutrcallyknowing
what is going on,until youcan gct a bcttcr scnsc of it all whcn yougct
furthcroninthctcxt.nlythcncanyoubcgintoscchowthcscconccpts
arcworking.
Marx`sstartingpointis thcconccpt of thccommodiAt hrst blush this
sccmsasomcwhatarbitraryifnotstrangcplacctostart.Whcnthinkingof
Marx,phrascslikcthcMan(/cs/c's "ahistoryisthchistoryofc|assstrugglc
comc to mind. ohy dost Cap||a/ startithclassstrlc Iactit
tacs about thrcchunrcd pagcsbcforc thcrs morc than a hint of that,
whichmayfrustratcthosclookingforanimmcdiatcguidctoaction.Why
docstMarxstartithmoncyActually,inhisprcparatoryinvcstigations,
hcwantcdtostartthcrc,butahcrfurthcrstudyhcconcludcdthatmoncy
nccdcd to bc cxplaincd rathcr than assumcd.Why docsnt hc start with
labor, anothcr conccpt with which hc is dccply associatcd Why docs
hc start with thc commodity !ntcrcstingly, Marx`s prcparatory writings
indicatcthatthcrcwasalongpcriod,abouttwcntyorthirtyycars,during
which hc strugglcd with thc gucstion of whcrc to bcgin.Jc mcthod of
dcsccntbroughthim to thc conccpt of thc commodity,but Marxmakcs
no attcmpt to cxplain that choicc, nor docs hc bothcr to arguc for its
lcgitimacy.Hcuststartswiththccommodity,andthatisthat.
!t`s crucial to undcrstand that hc is constructing an argumcnt on
thcbasisof an alrcadydctcrmincdconclusion.Jismakcsfor a cryptic
bcginningtohiswholcargumcnt,andthctcmptationforthcrcadcristo
bccithcrsobcmuscdorirritatcdbythcarbitrarincssofitallastogivcup
bychaptcr{. oMarxisguitccorrccttopointoutthatthcstartof Cap|/a/
isparticularlyarduous.Myinitial taskis,thcrcforc,toguidcyouthrough
thchrstthrccchaptcrs,atlcast,itdocsgctplaincrsailingahcrthat.
! havc suggcstcd, howcvcr, that thc conccptual apparatus Marx hcrc
constructs ismcant to dcal notustwiththchrst volumcof Cap|/a/ but
with his analysis as a wholc.And thcrc arc, of coursc, thrcc volumcs of
Cap|/a/ that havc comc down to us,soif you rcally want to undcrstand
:o A COMPA~JO~ TO MARX'S L11
thc capitalist modc of production, you havc unfortunatcly to rcad all
thrccvolumcs. Volumc!isustncpcrspcctivc. But,cvcwrsc,thcthrcc
volumcsof Ca//a/ arc only about ancigh (if that)of what hc had in
mind.Hcrciswhathcwrotcina prcparatorytcxtc

llcthc Crundr/ssc,
whcrcin hc sctsout various dcsigns for Ca//a/. ! havc thc ambition,hc
saysatoncpoint,todcalwiththcfollowing:
() Tc gcncral, abstract

ctcrminants which obtainin morc or lcssall

IormsoIsocicty.. .(z)Tccatcgoricswhichmakcupthcinncrstructurc
oI bourgcois socicty and on whichthc ndamcntal classcs rcst.Capital,
wagclabour,landcdpropcrty. Tcirintcrrclation. 1ownandcountry. Tc
thrcc grcat social classcs.Exchangc bctwccn thcm.Circulation.Crcdit
systcm (privatc).({) Conccntration oI bourgcoissocicty in thc Iorm oI
thc statc. icwcd in rclation to itsclI.Tc `unproductivc classcs.1axcs.
tatc dcbt.ublic crcdit.Tc population.Tc colonics. Emigration.(()
cintcrnationalrclationoI production.!ntcrnatinaldivisionoI labour.
!ntcrnational cxchangc.Export and import. Ratc of cxchangc. ) Tc
worldmarkctandcriscs. (o()
Marxncvcrcamcncartohnishingthisprojcct.!nfact,hctookupfcwof
tcsctopicsinanysystcmaticwayorinanydctailAndmanyofthcm-likc
thccrcdit systcm and hnancc,colonial activitics,thcstatc,intcrnational
rclationsandthcworldmarkctandcriscs-arcabsolutclycrucialforour
undcrstandingofcapitalism. Jcrcarchintsinhisvoluminouswritings
astohowtodcalwithmanyof thcsctopics,howbcsttoundcrstandthc
statc,civilsocicty,immigration,currcncycxchangcsandthclikc. Anditis
possibIc, as 1 tricd to shov in my ovn Limits to Capital, to pin somc ot thc
Iragmcntshclcuswithonthcsctopicstogcthcrinwaysthatmakcscnsc.
But it`s important to rccognizc that thc conccptual apparatusprcscntcd
atthcbcginningof Ca//a/ bcarsthcburdcnoflayingthcfoundationfor
thismomcntousbutincomplctcprojcct.
Volumc!,youwillscc,cxplorcsthccapitalistmodcofproductionfrom
thcstandpointofproduction,notof thcmarkct,notofglobaltradc,but
thc standpoint of production alonc.Volumc !! (ncvcr complctcd) takcs
thcpcrspcctivcofcxchangcrclations,whilcVolumc!!! (alsoincomplctc)
conccntratcsinitiallyoncrisisformationasaproductofthcmndamcntal
contradictions of capitalism,thcnalso takcs up issucsof distributionof
2. DavidHarvcy,T0c Limi/s /o Cui/uI (London.Vcrso,2006).
IMTRODUCTIOM
thcsurplusinthcformsofintcrcst,rcturnonhnancccapital,rcntonland,
proht on mcrchantcapital,taxcs and thc likc. So thcrc is a lot missing
from thc analysis of Volumc !, but thcrc is ccrtainly cnough thcrc to
furnish your undcrstanding of how thc capitalist modc of production
actuallyworks.
JisbringsusbacktoMarx`smcthod.ncofthcmostimportantthings
to glcanfrom a carcml study ofVolumc! ishowMarx`smcthod works.
! pcrsonallythinkthisisjustasimportantasthcpropositionshcdcrivcs
abouthowcapitalismworks,bccausconccyouhavclcarncdthcmcthod
and bccomcboth practiccd in its cxccution and conhdcnt in its powcr,
thcnyoucanuscittoundcrstandalmostanything.Jismcthoddcrivcs,
ofcoursc,fromdialcctics,whichis,ashcpointsoutinthcprcfaccalrcady
citcd, a mcthod of inguiry "that had no prcvlously bccn appllcd o
cconomicsubccts(o().Hcfurthcrdiscusscsthisdialccticalmcthodin
thc postfacc to thc sccond cdition.Whic his idcas dcrivc from Hcgcl,
Marx`s"dialcctical mcthod is,initsfoundations,notonlydihcrcntfrom
thcHcgclian,butcxactlyoppositctoit"oz).Hcnccdcrivcsthcnotorious
claimthatMarxinvcrtcdHcgcl`sdialccticsandstooditrightsidcup,on
itsfcct.
Jcrc arc ways in which, wc`ll hnd, this is not cxactly truc. Marx
rcvolutionizcd thc dialcctical mcthod, hc didn`t simply invcrt it. "!
criticizcd thc mystihcatory sidc of thc Hcgclian dialcctic ncay thirty
ycars ago,` hc says, rcfcrring to his critiguc of Hcgcl`s Ih/|csch) c{
R/ght. Plainly, that critiguc was a foundational momcnt in which Marx
rcdchncdhisrclationshiptothcHcgcliandialcctic.Hcobjcctstothcway
inwhichthcmystihcdformofthcdialccticaspurvcycdbyHcgclbccamc
thcfashioninGcrmanyinthc8]osand8(os,andhcsctouttorcform
it so hat it could takc account of"cvcry historically dcvclopcd form as
bcing in a huid statc, in otion.` Marx had, thcrcforc, to rcconhgurc
dialccticssothatitcouldgraspthc"transicntaspcct"ofasocictyaswcll.
Dialccticshasto,inshort,bcablcto undcrstandandrcprcscntproccsscs
of motion,changc and transformation. Such a dialcctical mcthod"docs
notlctitsclf bcimprcsscd by anything, bcingin its vcry csscncc critical
andrcvolutionary"oz-]),prccisclybccauscitgocstothchcartofwhat
socialtransformations,bothactualandpotcntial,arcabout.
What Marx is talking about hcrc is his intcntion to rcinvcnt thc
dialcctical mcthod to takc account of thc unfolding and dynamic
: z A COMPA~JO~ TO MARX'S L11
rcationsbctwccnccmcntswithinacapitaistsystcm.Hcintcndstodoso
insucha way asto capturchuidity and motion bccausc hcis,aswcwi
scc,incrcdibyimprcsscdwiththcmutabiityanddynamicsofcapitaism.
JhisgocsagainstthcrcputationthatinvariabyprcccdcsMarx,dcpicting
him as somc sortof hxcd and immovabc structuraistthinkcr. Ca//a/,
howcvcr,rcvcasaMarxwhoisawaystakingaboutmovcmcntandthc
motionthc proccsscsof, for cxampc, thc circuation of capita. So
rcadingMarxonhisowntcrmsrcguircsthatyougrappcwithwhatitis
hcmcansby"diacctics.`
Jc probcm hcrc is, howcvcr, that Marx ncvcr wrotc a tract on
diacctics, and hc ncvcr cxpicatcd his diacctica mcthod (athough
thcrc arc,aswcsha scc,pcntyof hintshcrcand thcrc). Sowc havc an
apparcntparadox.oundcrstandMarx`sdiaccticamcthod,youhavcto
rcadCa//a/, bccauscthatisthcsourccforitsacapracticc,butinordcr
toundcrstandCa//a/ youhavctoundcrstandMarx`sdiaccticamcthod.
Acarcmrcadingof Ca//a/ graduayyicdsa scnscof howhis mcthod
works,andc morcyou rcad,thcbcttcr you` undcrstand Ca//a/ asa
book.
ncofthccuriousthingsaboutourcducationasystcm,!woudnotc,
isthatthcbcttcrtraincdyouarcinadiscipinc,thccssuscdtodiacctica
mctho

you`rc ikcy to bc. !n fact, young chidrcn arc vcry diacctica,

thcy scc cvcrything in motion, in contradictions and transformations.
Wchavc to put an immcnsc chort into training kids out of bcing good
diaccticians.Marxwantstorccovcrthcintuitivcpowcrofthcdiacctica
mcthodandputittoworkinundcrstandinghowcvcrythingisinproccss,
cvcrthing is in motion. Hc docst simpy tak about abor, hc taks
about thcabormccss. Capita is not a thing, but rathcr a proccss that
cxists ony in mc//cn. Whcn circuation stops, vauc disappcars and thc
hoc systcm comcs tumbing down.Considcr what happcncd in thc
ahcrmath of Scptcmbcr 11, 2DD1, incwYork City: cvcrthing camc to
a standsti. Pancsstoppcdhying,bridgcs and roadscoscd.Ahcr about
thrcc days, cvcrybody rcaizcd that capitaism woud coapsc if things
didtgctmovingagain.Sosuddcny,MayorGiuianiandPrcsidcntBush
arc pcading thc pubic to gct out thc crcdit cards and go shopping, go
backtoBroadway,patronizcthcrcstaurants.Bush cvcnappcarcdinaV
adforthcairincindustrycncouragingAmcricanstostarthyingagain.
Capitaism is nothing if it is not on thc movc. Marx is incrcdiby
apprcciativcofthat,andhcsctsouttocvokcthctransformativcdynamism
IMTRODUCTIOM 1 j
ofcapitalJat`swhyitissovcrystrangcthathc`sohcndcpictcdasastatic
thinkcr who rcduccs capitalism to a structural conhguration. o, what
Marx sccks out in Capl/a/ is a conccptual apparatus, a dccp structurc,
that cxplains thc way in which motion is actually instantiatcd within a
capitalist modc of production. Conscgucnty, many of his conccpts arc
formulatcdaroundrc/a/lcns rathcr thanstand-aoncprincipcs, thcy arc
abouttransformativcactivity.
So gctting to know and apprcciatc thc dialcctical mcthod of Capl/a/
is csscntial to undcrstanding Marx on his own tcrms. uitc a lot
of pcopc, incuding somc Marxists, woud disagrcc. Jc so-callcd
anayticalMarxists-thinkcrslikcGA.Cohcn,ohnRocmcrandRobcrt
Brcnncrdismiss dialcctics. Jcy actuay ikc to cal thcmsclvcs "no-
bushitMarxists.` Jcy prcfcr to convcrtMarx`s argumcnt into a scrics
of analytical propositions. Othcrs convcrt his argumcnt into a causa
moclottcworl.crcis cvcna positivistway otrcprcscntingMarx
thatallowshisthcorytobctcstcdagainstcmpiricaldata.Incachofthcsc
cascs,dialcctics gcts strippcd away.ow,I am not in principlc arguing
that thc anaytical Marxists arc wrong, that thosc who turn Marx into
a positivist modcl-buidcr arc dcudcd. Maybc thcy arc right, but I do
insistthatMarx`sowntcrmsarcdiacctica,andwcarcthcrcforcobigcd
tograppcinthchrstinstanccwithadialccticarcadingofCapl/a/.
nchnalpoint:ouraimistorcadMarxonMarx`sowntcrms,butinasmuch
asIamguidingthatapproach,thosctcrmswilincvitably bcahcctcdby
my intcrcsts and cxpcricnccs. I havc spcnt much of my acadcmic lifc
bringing Marxian thcory to bcar on thc study of urbanization undcr
capitaism, of uncvcn gcographical dcvcopmcnt and of impcrialism,
and thatcxpcricncchas obviously ahcctcdthcway inwhichI nowrcad
Capl/a/. Jo bcgin with, thcsc arc practical, rathcr than phiosophical or
abstractythcorctica,conccrns,myapproachhasalwaysbccntoaskwhat
Capl/a/ canrcvcaltousabouthowdaiylifcisivcdinthcgrandciticsthat
capitalismhasproduccd.vcrthcthirty-oddycarsofcngagcmcntIhavc
hadwiththistcxt,amanncrofgcographica,historicalandsocialshis
havc occurrcd. Indccd, onc of thc rcasons I likc to tcach Capl/a/ cvcry
ycaristhatcachtimcImustaskmyscfhowitwillrcaddihcrcntly,what
about it will strikc mc thatI didtnoticcbcforc.I hndmysclfcoming
back to Marxcss forguidanccthan forpotcntialthcorcticainsightsas
gcography, history and pcoplcchangc.In thc proccss,of coursc,I havc
t
(
A COMPANJON TO MARX'S L11
n turn amcndcd my undcrstandng of thc tcxt. As thc hstorcal and
ntcllcctual clmatc confronts us wth apparcntly unprcccdcntcd ssucs
andpcrls,sothcwaywcrcadCal/a/ hasalsotoshhandadapt.
Marx talks about ths proccss of ncccssary rcformulaton and
rcntcrprctaton.Bourgcosthcoryundcrstoodthcwordnaccrtanway
nthccghtccnthccntury,hcrcmarks,andthcnhstorymovcdontomakc
thatthcoryandtsthcorctcalformuatonsrrclcvant(}-8).Idcashavc
tochangcorbcrcconhgurcdascrcumstanccschangc.Marxundcrstood
andrcprcscntcdthccaptalstwordlumnouslynthc8}osand86os,but
thcworldhaschangcd,andsothcgucstonmustalwaysbcaskcd:nwhat
wayssthstcxtapplcablctoourowntmcs Lnfortunatcly,nmy vcw,
thc ncolbcral countcrrcvoluton that has domnatcd global captalsm
ovcr thc past thrty ycars has donc much to rcconsttutc globally thosc
condtonsthatMarxsobrllantlydcconstructcd nthc8}os and86os
nBrtan.SonthcscrcadngsInscrtsomcofmyown commcntary on
boththcrclcvanccof Cal/a/ totoday`sworldandthcrcadngof thctcxt
thatsccmsbcsttohtthctcnorof thctmcs.
Mostly,though, I want you to comc away wth your own rcadng of
Cal/a/. Jats,Ihopcyouwllcngagcwththctcxtntcrmsofyourown
dstnctvccxpcrcncc-ntcllcctual,socalpoltcal-andlcarnfromtn
your own fashon. I hopc you wll havc a good and cnlghtcnng tmc
spcakng to thc tcxt, as t wcrc,and lcttng thc tcxt spcak back to you.
Jat knd of daloguc wth thc tcxt s a wondcrful cxcrcsc n scckng
to undcrstand what appcars almost mpossblc to undcrstand. H s thc
busncssof cach rcadcr to translatc Cal/a/ nto mcanng for hs or hcr
ownlIc.1crcs,andcanbc,noultmatcanddchntvcrcadngprccscly
bccausc thc world pcrpctually changcs. s Marx would probably havc
sad,Hlc Rhcdus hlc sa//al Hcrcsthcball,nowrunwtht!
: A COMPANION TO MARX
'
S CAPI7AI
irrcspcctivc of class,racc,gcndcr,rcligion, nationality,scxual prcfcrcncc
orwhatcvcr.Wcknow aboutcommoditicsinan cvcrydayway,and thcy
arc,furthcrmorc,csscntialtoourcxistcncc:wchavctobuythcminordcr
tolivc.
Commoditics arc tradcd in thc markct, and this immcdiatcly poscs
thcgucstion:whatkindofcconomictransactionisthisJccommodity
is somcthing that mccts a human want, nccd or dcsirc. H is somthing
cxtcrnal to us that wc takc posscssion of and makc ours. But Marx
immcdiatclydcclarcs hc is not intcrcstcdin"thc naturc of thcsc nccds,
whcthcr thcy arisc,for cxamplc,from thcstomach,or thcimagination.`
All hc is intcrcstcd in is thc simplc fact that pcoplc buy commoditics
andthatthisactisfoundationalto howpcoplclivc.Jcrcarc,ofcoursc,
millions of commoditics in thc world, and all of thcm arc dihcrcnt in
tcrmsoIthcirmatcrialgualitisandhowthcyarcdcscribcdguantitativcly
pounds ot our, pairs ot socs, ilowatts oI clcctricity, yards otcloth,
ctc.).ButMarxpushcsallthisimmcnscdivcrsitytooncsidc,sayingthat
thcdiscovcryof"thcmanifolduscsofthingsisthcworkofhistory,`asis
thc"invcntionof socially rccognizcdstandardsof mcasurcmcntfor thc
guantiticsofthcscuscmlobjccts"(z}).Buthcnccdstohndsomcwayto
talkaboutthccommodityingcncral."Jcuscfulncssofathing,`canbcst
bcconccptualizcdasa"usc-valuc"(z6).hisconccptofusc-valucwillbc
vitalincvcrythingthatfollows.
oticc how guickly hc abstracts from thc incrcdiblc divcrsity of
humanwants,nccdsanddcsircs,aswcllasfromthcimmcnscvarictyof
commoditics and thcir wcights and mcasurcs,in ordcr to focus on thc
unitary conccpt of a uscvaluc. his is illustrativc of an argumcnt hc
makcs in onc of thc prcfaccs,whcrc hc says that thc problcm for social
scicncc is that wc cannot isolatc and conduct controllcd cxpcrimcnts
in a laboratory, so wc havc to usc thc powcr of abstraction instcad in
ordcr to arrivc at similar scicntihcforms of undcrstanding (o).Inthis
opcning passagcyousccthisproccssof abstractionatworkforthchrst,
butccrtainlynotthclast,timc.
But "in thc form of socicty to bc considcrcd hcrc (i.c., capitalism),
commoditics"arcalso thcmatcrialbcarcrs. . . of . . . cxchangc-valuc.`Bc
crcful about thc word "bcarcr,` bccausc bcaring somcthing is not thc
samc as bcing somcthing. Commoditics arc bcarcrs of somcthing clsc
whichhasycttobcdchncd.Sohowdowcdiscovcrwhatthccommodity
isabcarcroWhcnwclookatactualcxchangcproccsscsinthcmarkct,
COMMODITIS AND XCHANC 1}
wcwitncssanimmcnscvarictyof cxchangcratiosbctwccn,forcxampc,
shirtsand shocsandappcsandorangcs,andthcsccxchangcratiosvary
agrcatdcacvcnforthcsamcproductsaccordingtotimcandpacc.So
athrstsightitsccmsasif cxchangcratiosarc"somcthingaccidcntaand
purcyrcativc"(butnotcthcword"rcativc").Fromthisitwoud"appcar"
thatthcidcaof"anintrinsicvauc,i.c.ancxchangcvaucthatisinscparaby
conncctcd with thccommodity,inhcrcntin it,sccms a contradiction in
tcrms" (z6). nthc othcr hand,cvcryhingisin principc cxchangcabc
with cvcryhing csc. Commoditics can kccp changing hands and kccp
moving in a systcm of cxchangcs. Somcthing makcs commoditics
commcnsurabc in cxchangc. From this it foows that "thc vaid
cxchangc-vaucs of a particuar commodity cxprcss somcthing cgua,
andsccondy,cxchangcvauccannotbcanythingothcrthanthcmodof
cxprcssion,thcformofappcarancc`,ofacontcntdistinguishabcfromit`
Icannotdisscctacommodityandhndthatccmcntwithinitthatmakcs
itcxchangcabc.Whatmakcsitcxchangcabcmustbcsomcthingcsc,and
that somcthing csc is discovcrabc ony whcn thc commodity is bcing
cxchangcd(andhcrcthcidcaofmovcmcntandproccssstartsto cmcrgc
as crucia).Asthccommodity changcs hands,so it cxprcsscs somcthing
about not ony its own guaitics but thc guaitics of a commoditics,
i.c., that thcy arc commcnsurabc with onc anothcr. So why arc thcy
commcnsurabc,andwhcncc docsthatcommcnsurabiity dcrivc"Lach
ofthcm"(thccommoditics),"sofarasitiscxchangcvauc,mustthcrcforc
bcrcducibctothisthirdthing"(z.
"Jis commonccmcnt,`Marxthcnargucs,"cannotbcagcomctrica,
physica,chcmicaorothcrnatura propcrtyof commoditics"(z).Jis
68dS !0 8 SIgHIBC8H! !uIH IH !h6 8Igum6H!. MrIS uSu8y d6QIC!6d 8S
an unwavcring if not fundamcntaist matcriaist. Lvcrything has to bc
matcriainordcrtobcvaidyconsidcrcd asrca,buthcrchcisdcnying
that thc matcraity of thc commodity can tc you anything you might
wanttoknowaboutwhatitisthatmakcsthcmcommcnsurabc.`Asusc-
vaucs,commoditics dihcrabovcainguaity,whicascxchangc-vaucs
thcycanonydihcringuantity,andthcrcforcdonotcontainanatomof
usc-vauc.`Jccommcnsurabiityofcommoditicsisnotconstitutcdout
of thcir usc-vaucs."If thcn wcdisrcgard thc uscvauc of commoditics,
ony onc propcrty rcmains"-and hcrc wc arc going to makc anothcr
of thosc pr|cr| caps by way of asscrtion -"that of bcing products of
abour" (z8). So commoditics arc a products of human abor.What
: A COMPANlON TO MARX'S CAPI7AI
commoditicshavcin common is that thcy arcall bcarcrs of thc human
labor cmbodicd inthcirproduction.
But,hcthcnimmcdiatclyasks,whatkindofhumanlaboriscmbodicd
in commoditics H can`t bc thc actual timc takcn-what hc calls thc
concrctclabo-bccauscthcnthclongcrtakcntoproduccthccommodity,
thcmorcvaluablcitwoudbc. WhywoudIpayaotforanitcmbccausc
somcbody tooka long timcmakingitwhcnI cangctitathalf thcpricc
fromsomcbodyclscwhoproduccditinhalf thctimc So,hcconcludcs,
allcommoditicsarc"rcduccd to thcsamckindof labour,humanlabour
inthcabstract"(z8).
Butwhatdocsthishumanaborinthcabstractlooklikcommoditics
arcrcsiducs
ot thc products ot Iabour. Jhcrc is nothing Ich ot thcm in cach casc but thc
samc phantom-Iikc objcctivity, thcy arc mcrcIy congcaIcd quantitics ot
homogcncoushumanlabour... Ascrystalsofthissocialsubstancc,which
iscommontothcmall,thcyarcvalucscommodityvalucs.(z8)
What acrisppassagc, yct withwhatincrcdiby condcnscd mcanings! If
humanabor in thcabstractisa"phantom-ikc objcctivity,` how can wc
possiblysccitormcasurcitWhatkindof matcrialismisthis
H has, you will noticc, takcn a mcrc four pagcs of rathcr cryptic
asscrtionsto lay out thcfundamcntalconccptsandmovcthc argumcnt
from usc-valuc to cxchangc-valuc to human labor in thc abstract, and
ultimatclytovalucascongcalcdguantiticsofhomogcncoushumanlabor.
H is thcir valuc that makcs a commoditics commcnsurablc, and this
valucisbothhiddcnasa"phantom-likcobjcctivity"andpasscdoninthc
proccsscsofcommoditycxchangc. Jisposcsthcgucstion:isvalucrcally
a"phantom-likcobjcctivity,`ordocsitmcrclyappcarthatway
Jis allows us to rcintcrprct cxchangc-valuc as"thc ncccssary modc
of cxprcssion, or form of appcarancc, of valuc" (z8) oticc thc word
"appcarancc" hcrc oncc morc, but now wc can look at thc rclation thc
othcr way round bccausc thc mystcry of what makcs a commoditics
cxchangcablc is now undcrstood as a world of appcaranccs of this
"phantom-likc objcctivity" callcd valuc.Lxchangc-valuc is a ncccssary
rcprcscntation of thc human labor cmbodicd in commoditics.Whcn
you go into thc supcrmarkctyou can hnd out thc cxchangc-vaucs,but
youcantsccormcasurcthchumanlaborcmbodicdinthccommoditics
COMMODITIS AND XCHANC 1Q
drcctly.H s that cmbodmcnt of human labor that has a phantom-lkc
prcscncconthcsupcrmarkctshclvcs.hnkaboutthatthcncxttmcyou
arcnasupcrmarkctsurroundcdwththcscphantoms!
Marxthcnrcturnstothcgucstonofwhatkndoflaborsnvolvcdn
thcproductonofvaluc.alucs"abstracthumanlabour. . . objccthcd. . . or
matcralzcd"nthccommodty.HowcanthsvalucbcmcasurcdInthc
hrstnstancc, ths planly hassomcthngto do wthlabor-tmc.But asI
alrcadyargucdnscttngupthcdhcrcnccbctwccnconcrctcandabstract
labor, t cannot bc thc actual labor-tmc, bccausc thcn thc commodty
would bc"morc valuablc thc morc unskllful and lazy thc workcr who
produccd t.` So"thc labour that forms thc substancc of valuc s cgual
human labour, thc cxpcndturc of dcntcal human labourpowcr.` In
ordcrto gctatwhatthc"cxpcndturc of dcntcalhumanlabour-powcr"
mghtmcan,hcnccds,hcsays,tolookat"thctotallabour-powcrofsoccty,
whchsmanfcstcdnthcvalucsofthcworldof commodtcs"(z).
Jsa r/cr/ asscrtonhashugcmplcatons.Marxdocsnot,howcvcr,
claboratc on thcm hcrc. So lctmc do so,lcst you msconstruc what thc
valuc thcory s about.Jo spcak of"thc total labour-powcr of soccty" s
tactly to nvokc a world markctthathas bccn broughtnto bcng undcr
a captalst modc of producton. Whcrc docs ths "soccty"thc world
of captalst commodty cxchangc-bcgn and cnd Rght now t`s n
Chna,t`s nMcxco,t`s n apan, Russa, SouthAfrca-t`s a global sct
of rclatons.Jc mcasurc of valuc s dcrvcd out of ths wholc world of
human laborng. But ths was truc, though obvously on a lcsscr scalc,
ofMarx`s tmc, too. Jhcrc s a brllant dcscrpton of whatwc nowcall
globalzatonnthcCcmmun/s/ Manqcs/c.
Tcbourgcoschasthroughtscxplotatonofthcworld-markctgvcna
cosmopoltancharactcrtoproductionandconsumptionincvcrycountry
. . . ithas drawn from undcr thc fcctof ndustry thcnatonal ground on
whichitstood.llold-cstablshcdnationalindustricshavcbccndcstroycd
orarcdalybcngdcstroycd.hcy arcdslodgcdbyncwndustrics,whosc
introduction bccomcs a lifc and dcath qucstion for all civiliscd natons,
byndustrics that no longcr work up indigcnous raw matcrial, but raw
matcral drawn from thc rcmotcst zoncs ndustrics whosc products arc
consumcd,not only at homc, butn cvcry quartcr of thc globc.In placc
of thcoldwants, satishcd by thc productions of thccountry,wc hndncw
wants, rcquring for thcr satsfacton thc products of dstant lands and
climcs.In placcof thcoldlocalandnatonal scclusionandsclf-sucicncy,
zo A COMPANION TO MARX' S CAP7AI
wc havc intcrcoursc in cvcry dircction, univcrsal intcr-dcpcndcncc of
nations.
It is on this dynamic global tcrrain of cxchangc rclations that valuc
isbcingdctcrmincdandpcrpctuallyrcdctcrmincd.Marxwaswritingin
ahistorical contcxt whcrc thc world wasopcning up vcry fast to global
tradc, through thc stcamship, thc railways and thc tclcgraph. And hc
undcrstood vcry wcll that valuc was not dctcrmincd in our backyard
or cvcnwithina nationalcconomy,but arosc outof thc wholc world of
commodity cxchangc.But hc hcrc again uscs thc powcr of abstraction
to arrivc at thc idca of units of homogcncous labor,cach of which"is
thcsamcasanyothcr,tothccxtcntthatithasthccharactcrofasocially
avcragcunitoflabour-powcrandactsassuch,`asifthisrcductiontothc
valucformisactuallyoccurringthroughworldtradc.
is allows him to tormulatc thc crucial dcnition ot "valuc as
"socially ncccssary labour-timc,` which"is thc labour-timc rcguircd to
produccany usc-valucundcrthcconditionsofproductionnormalfora
givcnsocictyandwiththcavcragcdcgrccofskillandintcnsityof labour
prcvalcnt in that socicty.` Hc conludcs, "What cxclusivcly dctcrmincs
thc magnitudc of thc valuc of any articlc is thcrcforc thc amount of
labour socially ncccssary, or thc labour-timc socially ncccssary for its
productio (z).Jhcrcisyourdchnition. Butit isplainlya contingcnt
dchnition, bccausc it is intcrnal to thc conccpt of "socicty"-but whcrc
docssocictybcginorcndIsitcloscdoropcnIfthatsocictyisthcworld
markct,asitsurclymustbc,thcn. . .
nc rcason Marx could gct away with this cryptic prcscntation of
usc-valuc, cxchangcvaluc and valuc was bccausc anybody who had
rcadRicardowouldsay,ycs,thisisRicardo.AnditispurcRicardowith,
howcvcr, onc cxccptional inscrtion.Ricardoappcalcd to thc conccpt of
labor-timc as valuc. Marx uscs thc conccpt of scc/a//) ncccssar) labor-
timc.WhatMarxhasdonchcrcis torcplicatcthc Ricardianconccptual
apparatus and, sccmingly innoccntly, inscrt a modihcation. But this
inscrtion,aswcshallscc,makcsaworldofdihcrcncc.Wcarcimmcdiatcly
forccdtoaskwhatissocially ncccssary Howisthatcstablishcd,andby
whom Marx givcsnoimmcdiatcanswcrs,butthisgucstionisoncthcmc
that runs throughout Ca//a/. What arc thc socialncccssitics cmbcddcd
withinacapitalistmodcofproduction
Jis,Isubmit,continucstobcthcbigissucforusIsthcrc,asMargarct
COMMODITIES AND EXCHANCE 2 1
1atchcrfamouslyrcmarkcd,"noaltcrnativc,`whichinawayislikcsaying
that thcsocialncccssiticsthatsurround usarcsoimplacably sctthatwc
havcnochoiccbuttoconformtothcmAtitsfoundation,thisgocsback
toagucstionofbywhomandhow"valucs"arccstablishcdWc alllikcto
think,ofcoursc,thatwchavcourown"valucs,`andcvcryclcctionscason
inthcLnitcdStatcsthcrcisanintcrminablcdiscussionaboutcandidatcs`
"valucs` ButMarxisarguingthatthcrcisaccrtainkindandmcasurcof
valucwhichisbcingdctcrmincdbyaproccssthatwcdonotundcrstand
andwhich is notncccssarily ourconsciouschoicc,and that thc manncr
inwhichthcscvalucsarcbcingimposcdonushastobcunpackcd.!fyou
wanttoundcrstandwhoyouarcandwhcrcyoustandinthismaclstrom
of churning valucs, you havc hrst to undcrstand how commodity
valucs gct crcatcd and produccd and with what conscgucnccs-socia,
cnvironmcntal,politicalandthclikc.!fyouthinkyoucansolvcascrious
cnvironmcntalgucstionlikcglobalwarmingwithoutactuallyconfronting
thc gucstion of by whom and how thc foundational valuc structurc of
oursocictyisbcingdctcrmincd,thcnyouarckidding yoursclf.SoMarx
insists that wc must undcrstand what commodity valucs and thc social
ncccssiticsthatdctcrmincthcmarcallabout.
Commodity vaucs arc not hxcd magnitudcs. Jcy arc scnsitivc, for
instancc,tochangcsinproductivity:
Tc introduction of powcr-looms into England, for cxamplc, probably
rcduccd by onc half thc labour rcquircd to convcrt a givcn quantity of
yarnintowovcnfabric.!nordcrtodothis,thcEnglishhand-loomwcavcr
infactnccdcdthcsamcamountoflabour-timcasbcforc, butthcproduct
of his individuaI hour of Iabour now onIy rcprcscntcd haIf an hour of
sociaIIabour,andconscqucntIytcIItoonchaItitstormcrvaIuc.(zp)
1isalcrtsustothcfactthatvalucisscnsitivctorcvolutionsintcchnology
and inproductivity.MuchofVolumc ! isgoing tobctakcn up with thc
discussionof thcoriginsandimpactsofrcvolutionsinproductivity and
thcconscgucntrcvolutionsinvalucrclations.Butitisnotonlyrcvolutions
intcchnologythatarcimportant,bccauscvalucis"dctcrmincdbyawidc
rangc of circumstanccs, it is dctcrmincd amongst othcr things by thc
workcrs`avcragcdcgrccof skill,thclcvcl of dcvclopmcntof scicnccand
its tcchnological application"-Marx is vcry takcnwiththcsignihcancc
of tcchnology and scicncc to capitalism-"thc social organization of
22 A COMPANION TO MARX'S CAP7AI
thcproccss of production,thccxtcntandchcctivcncss of thcmcans of
production,andthcconditionsfoundinthcnaturalcnvironmcnt"(:{o).
A vast array of forccs can impingc on valucs. 1ransIormations in thc
naturalcnvironmcntor migration toplaccswithmorcfavorablcnaturaI
conditions(chcapcrrcsourccs)rcvolutionizcvalucs.Commodityvalucs,
inshort,arcsubjccttoapowcrfularrayofforccs.Hcdocsnothcrcattcmpt
adchnitivccatcgorizationofalloIthcm,hcsimplywantstoalcrtusthat
what wc arccalling"valuc"is nota constant,but issubjcct to pcrpctual
rcvolutionarytransformations.
But thcn comcs a pcculiar twist in his argumcnt. Right in thc last
paragraphoI thisscction,hcsuddcnlyrcintroduccsthcgucstion of usc
valucs.A thing can bc a usc-vaIucwithout bcing a vaIuc.`Wcbrcathc
air,andsofarwchavcn`tmanagcdtobottlcitandscllitasacommodity,
although ! surc somconc is aIrcady trying to hgurc out how to do
that. Iso, "a thin can bc uscfuI, and a product of human Iabour,
without bcing a commodity.` I grow tomatocs in my backyard, and !
catthcm.Lotsof pcoplcwithincapitaIismactually do alotofthingsfor
thcmsclvcs (particularly withabitofhclpfromdo-it-yoursclf storcs).A
lot of laboring (particularly in thc domcstic cconomy) gocs on outsidc
commodity production. Jc production of commoditics rcguircs not
onlythcproductionofusc-valucs"butuscvalucsforothcrs.`otsimply
usc-valucsIorthclordof thcmanor,asthcscrfwoulddo,butusc-vaIucs
that go to othcrs throughthcmarkct.But thc implication of this is that
"nothingcanbca valucwithoutbcinganobjcctof utility.Itthcthing is
usclcss,soisthclabourcontaincdinit,thcIabourdocsnotcountaslabour,
andthcrcforccrcatcsnovaluc"(:{:). Marxcarlicrsccmcdtodismissand
abstractfromusc-valucsinordcrtogcttocxchangc-valuc,anditwasthis
thatgothimtovaluc.Butnowhcsaysthatifthccommoditydocsntmcct
ahumanwant,nccdordcsirc,thcnithasnovalucYouhavc,inshort,to
bcablctoscllittosomconcsomcwhcrc.
Lctusrcccta momcnt onthcstructurc of this argumcnt.Wcbcgin
with thc singuIar conccpt of thc commodity and cstablish its duaI
charactcr: it has a uscvaluc and an cxchangc-valuc. Lxchangc-valucs
arc a rcprcscntation of somcthing. What is it a rcprcscntation o A
rcprcscntationofvaluc,saysMarx.AndvaIucissociaIlyncccssary labor
timc. But vaIuc docsn`t mcan anything unlcss it connccts back to usc-
valuc.Lsc-valuc is sociaIly ncccssary to valucJcrcis a pattcrn to this
argumcnt,anditlooksIikcthis:
COMMODITIES A~D EXCHA~GE z
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{@UaDOtat1Ve aD0 {DDatet1a aD0 Meat1ODa,
ODO@eDeOU8j bOc1a1] Dece88at] aOOt 1Dej
Considcr,thcn,thcimplicationsofthisargumcnt.Youownacommodity
callcdahousc.Arcyoumorcintcrcstcdinits usc-valucorits cxchangc-
valuc You will likcly bc intcrcstcd in both. But thcrc is a potcntial
oppositionhcrc.!fyouwanttofullyrcalizcthccxchangc-valuc,youhavc
to surrcndcr its usc-valuc to somconccsc. !f you havc thc usc-valuc of
it,thcnitisdicultto gctacccsstothcxcangc-valuc,unlcssyoudoa
rcvcrscmortgagcortakcoutahomc-cguityloan.Docsaddingtothcusc-
valuc of thc housc for oncsclf add to thc potcntial cxchangc-valuc (A
ncwmodcrnkitchcn,probablyycs,somcspccialconstructiontofacilitatc
ahobby,probably no.)And whathappcnsto our social world whcn thc
houscthatwasonccconccptualizcdmainlyinusc-valuctcrmsasahomc
bccomcsrcconccptualizcdasawaytobuildlong-tcrmsavings (acapital
assct) tor a workn-cIass tamIy or cvcn as a vchcIc to bc "ggcd b y
anyoncwhohasacccsstocrcditforshort-tcrmspcculativcgainisusc
valuc/cxchangc-valucdichotomyis,wcll,uscful
Considcr thc argumcnt in grcatcr dctail. Jhc commodit a singular
conccpt,hastwoaspccts.Butyoucantcutthccommodityinhalf andsay,
that`s thc cxchangc-valuc, and that`s thc usc-valuc.o,thc commodity is a
uni.Butwithinthatunity,thcrcisadualaspcct,andthatdualaspcctallows
usto dchncsomcthingcallcdvaluc-anothcr unitary conccpt-as socially
ncccssary labor-timc, and this is what thc usc-valuc of a commodity is a
bcarcroButinordcrtobcofvaluc,thccommodityhastobcuscml.nthis
linkbackbctwccnvalucandusc-valuc,wcwsccallkindsofissucsarising
aroundsupplyanddcmand.!fthcsupplyistoogrcat,thccxchangc-valucw
z
(
A COMPANlON TO MARX' S CAPI7AI
godown,tthcsuppIystooIttIc,thccxchangc-vaIucwgoup-sothcrc
s an cIcmcnt hcrc otsuppIyand dcmand nvoIvcd n thc"accdcntaI and
rcIatvcaspccts otcxchangc-vaIuc.8utbchnd thcsc Iuctuatons,thcvaIuc
can rcman constant provdcd aII thc othcr torccs that dctcrmnc vaIuc,
such as productvty, do too).Marx s nottcrrbIyntcrcstcd n thc suppIy
and dcmand rcIaton. Hc wants to know how to ntcrprct commodty-
cxchangc ratos bctwccn, sa shrts and shocs,whcn suppIy and dcmand
arcncguIbrum.WcthcnnccdadhcrcntkndotanaIysswhchpontsto
vaIucascongcaIcdcIcmcntsotthssocaIsubstancccaIIcdsocaIIyncccssary
Iabor-tmc.Wchavc,wthoutnotcngt,tactIyabstractcdtromsuppIyand
dcmandcondtonsnthcmarkctnordcrtotaIkaboutcommod-vaIucs
wthsuppIyanddcmandncguIbrum) assocaIIyncccssaryIabor-tmc.
Howhas Marx`s daIcctcaI mcthodbccnworknghcrcWouIdyou say
thatcxchangcvucscauscvaIucWouIdyousaycxchangc-vaIucscauscusc-
vaIuc,orusc-vaIucsausc. . . sanaIysssnotausaI.RsaboutrcIatons,
daIcctcaIrcIatons.CanyoutaIkaboutcxchangc-vaIucwthouttaIkngabout
usc-vaIucNo,youcant.CanyoutaIkaboutvaIucwthouttaIkngaboutusc-
vaIucNo.!nothcrwords,youca`ttaIkaboutanyotthcscconccptswthout
taIkng about thc othcrs. Jhc conccpts arc codcpcndcnt on onc anothcr,
rcIatonswthnatotaItyotsomc sort.
! rccognzcthatto usc thcword"totaItys to wavc ahugcrcd hag n
ccrtan ntcIIcctuaI crcIcs. Marx had no dca what structuraIsm mght
bc about andwouIdhavchad cvcn Icss dca about poststructuraIsm.Wc
shouId bc wary otcrammng hs thought nto thcsc catcgorcs my own
vcw s that hc docs not ht nto thcm at aII). 8ut Marx ccrtanIy had thc
ambton to undcrstandthc captaIst modc otproducton as atotaIty, so
thconIygucstonotntcrcst s,cxactIywhatconccptottotaItydocshchavc
n mndWhatwc knowtromthshrstscctonsthatthstotaItycanbcst
bcapproachcdthroughthctrumvratcotconccptsotusc-vaIuc,cxchangc
vaIuc and vaIuc buIt around thc commod 8ut hc has acknowIcdgcd
that usc-vaIucs arc ncrcdbIy dvcrsc,that cxchangc-vaIucs arc accdcntaI
and rcIatvc and that vaIuc has or appcars to havc) a "phantom-Ikc
objcctvt'whchsnanycascsubjcctcdtopcrpctuaIrcvoIutonsthrough
tcchnoIogcaI changcs and uphcavaIs n socaI and naturaI rcIatons. Js
totaItysnotstatcandcIoscdbuthudandopcnandthcrctorcnpcrpctuaI
transtormaton.JnssdcntcIynotaHcgcIantotaIty,butwhatcIscwccan
sayabouttwhavctowatuntIwchavcgottcnmrthcraIongnthctcxt.

COMMODITlES AND EXCHANGE 2j
1cstorysoIarsrough|yths:Marxdcc|arcsthaths amstouncovcr
thcru|csoI opcraton oI a captalstmodcoI producton.Hc starts wth
thc conccpt oI thc commodty and mmcdatcly cstablshcs ts dual
charactcr. usc-valuc and cxchangc-va|uc. Sncc usc-valucs havc bccn
around Iorcvcr, thcy tcll us ltt|c about thc spcchcty oI captalsm. So
Marx puts thcm asdc n ordcr to study cxchangc-valucs. 1c cxchangc
ratosbctwccn commodtcsathrstappcaraccdcntal,butthcvcryactoI
cxchangcprcsupposcsthat a||commodtcshavcsomcthngncommon
that makcs thcm comparab|c and commcnsurablc. 1s commonalty,
Marx cryptca||y asscrts,sthatthcyarc a||productsoIhuman |abor.As
such, thcy ncorporatc"va|uc,`ntal|y dchncd as thc socally ncccssary
(avcragc)labor tmcncccssary toproduccthcm undcrgvcncondtons
oI labor productvty. Butn ordcr Ior thc |abortobc soca||y ncccssary,
somcbody somcwhcrcmustwant,nccdordcsrc thc commodty,whch
mcansthatuscvalucshavctobcrcntcgratcdntothcargumcnt.
In thc ana|yss that Io||ows, thcsc thrcc conccpts oI uscva|uc,
cxchangc-va|uc and va|uc arc kcpt n a pcrpctua|and somctmcs tcnsc
rc|atonshp wth onc anothcr. Marx rarc|y takcs any onc oI thcsc
conccpts n so|aton t s thc rc/a//cns ac/wccn /hcm that mattcr. Hc
docs, howcvcr, Ircgucnt|y cxamnc hc rclatonshp bctwccn just two oI
thcmwhlcholdngthcthrdtactlytooncsdc.Incxpandngonthcdual
charactcroI laborcmbodcdn a commodtynscctonz, MarxIocuscs
on thcrc|atonshpbctwccn thc usc-va|ucoIlaborngandthcva|ucthat
ths uscIu| labor cmbodcs (holdng cxchangc-va|uc constant). In thc
Io|lowngsccton,hcbrackctsoutusc-valucandcxamncsthcrclatonshp
bctwccn cxchangc-va|ucandvalucnordcrtocxp|anthcorgnandro|c
otmoney.timortanttonoticethcscchancsottocusasthcargumcnt
unIo|ds,bccauscthcstatcmcntsnany oncscctonarca|wayscontngcnt
onwhchoIthcconccptssbcngsctasdc.
1crc s yct anothcr modc oI argumcntaton hcrc that rcgurcs
clucdaton I wc arc to procccd. Havng bcgun wth usc-valuc and
cxchangc-va|uca dchotomyhc thcn arrvcs at a untary conccpt oI
a|ucthathassomcthngtodowthhumanlaborundcrstoodas"soca||y
ncccssary labour-tmc" (:z). But what knd oI human |abors socally
ncccssary1cscarchIorananswcrrcvcalsanothcrdualty,thatbctwccn
concrctc (actua|)and abstract (soca||yrc|cvant) |abor. 1csc twoIorms
oI |abor convcrgc agan n thc untary act oI commodty cxchangc.Yct
cxamnatonoIthsmomcntoIcxchangcrcvca|sanothcrdua|tybctwccn
z6 A COMPANION TO MARX' S CAPI7AI
rclatvc and cguvalcnt forms of valuc. csc two modcs of cxprcsson
of valuc arc rcuntcd n thc cmcrgcncc of onc commodty-thc moncy
commodty-whch functons as a unvcrsal cquvalcnt n rclaton to
all othcr commodtcs. What wc scc hcrc s a pattcrn n thc moc of
argumcntaton,agradualunfoldngofthcargumcntthatworksthrough
oppostons that arc brought back nto untcs (lkc thc oncy-form)
that ntcrnalzc a contradcton whch n turn gcncratcs yct anothcr
dualty(thcrclatonshpbctwccnproccsscsandthngs,matcralrclatons
bctwccn pcoplc and socal rclatons bctwccn thngs). s s Marx`s
dalcctalmcthodofprcscntatonatwork,andtcontnucsthroughout
thcwolcofCap|/a/, aswcwllscc.
Hcrc s thc pattcrn of argumcnt unfoldng n smplc dagrammatc
form.
US VAUS
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17LWL1 NL1b
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Mappngthcargumcntnthswaymakcstmuchcascrtosccthcwoods
forthctrccs.H scascrtostuatcthccontcntofany oncscctonwthn
thc ovcrall lnc of argumcnt. Jhs s not Hcgclan logc n thc strct
scnsc,bccauscthcrcsnohnalmomcntof synthcss,onlyatcmporary
momcntofuntywthnwhchyctanothrcontradctonadualty-s
ntcrnalzcdandthcnrcgurcsafurthcrcxpansonofthcargumcnt

t
stobcundcrstood.JsshowMarx`sproccssofrcprcscntatonunfolds
n Cap|/a/and ndccd, ts an unfoldng andnota logcal dcrvaton.
It produccs a skclctal structurc of argumcntaton around whch all
manncr of conccptual mattcr can bc arrangcd so that, aswc procccd,
thcrc cmcrgcs a broadcr and broadcr undcrstandng of thc ntcrnal
rclatonsthatkccpcaptalsmnapcrpctualstatcofcontradctoryunty
and,thcrcforc,npcrpctualmoton.
COMMODITIES AND EXCHANGE 2
Scc//cn z 1c Dua/ Charac/cr c{ /hc Laacur macd/cd /n
Ccmmcd///cs
Marx bcgins this scction with thc modcst claim that hc "was thc hrst
to point out and cxaminc critically this twofold naturc of thc labour
containcd in commoditics.As this point is crucial to an undcrstanding
of political cconomy,` hc says,"it rcguircs furthcr clucidatio ({z). Hc
bcgins,ashcdidinscction:, withusc-valucs.Jcscarcphysicalproducts,
produccdbyuscful,"concrctc"labor.Jcimmcnschctcrogcncityofforms
of concrctc labor proccsscstailoring, shocmaking, spinning, wcaving,
farmingandsoon-isimportant,bccauscwithout it thcrcwouldbcno
basisforanyactsofcxchangc(nobody,obviously,wouldwanttocxchangc
similar products)orasocialdivisionoflabor.
sc-valucscannotconfrontcachothcrascommoditics unlcssthcuscfuI
labour containcd in thcm is qualitativcly dihcrcnt in cach casc. In a
socictywhosc products gcncrally assumc thcform of commoditics . . .
this qualitativc dihcrcncc bctwccn thc uscful forms of labour which arc
carricdonindcpcndcntlyandprivatclyby individualproduccrsdcvclops
intoacomplcxsystcm,asocialdivisionoflabour.(:{{)
HcrcMarxbroachcsamcthodologicalthcmcthatcchocsthroughoutthcsc
chaptcrs: thc movcmcnt from simplicity to grcatcr complcxity, from thc
simplcmolccularaspcctsofancxchangccconomytowardamorcsystcmic
undcrstanding. Hc thcn dcviatcs from thc rulc of looking at rclations in
ordcrtocxamincsomcofthcunivcrsalpropcrticsofuscfullabor.Hcdocs
so bccausc"labour . . . as thc crcator of usc-valucs, as uscfl laboris a
conditionofhumancxistcnccwhichisindcpcndcntotaformsofsocicty
Lsclaboris"anctcrnalnaturalncccssitywhichmcdiatcsthcmctabolism
bctwccnmanandnaturc,andthcrcforchumanlifcitsclf "(:{{).
Jhisidcaof"mctabolism`withlaborasthcmcdiatorbctwccnhuman
cxistcnccandnaturc,isccntraltoMarx`shistorical-matcrialistargumcnt.
Hc will comc back to it at various points in Ca//a/ cvcn as hc lcavcs
thc idca rathcr undcvclopcd.Jis, too, is ocn tpical of his approach.
Hc says,in chcct,"Look, thcrc is somcthing important hcrc you should
thinkabout inthiscasc,thcrclation tonaturc .I amnotgoing towork
withitinanydctail,butI wanttoputitonthctablcassignihcantbcforc
goingontomattcrsofmorcimmcdiatcconccrn.` sc-valucs,`hcwritcs,
z8 A COMPANION TO MARX
'
S CAPI7AI
"arccombnatonsoftwoclcmcnts,thcmatcralprovdcdbynaturc,and
labour.`Hcncc,"whcnmancngagcsnproducton,hccanonlyprocccdas
naturcdocshcrscf (]]).Jsagansanmportantfoundatonalpont
whatcvcrwcdohastobcconsstcntwthnaturalaw.
Wc canonlychangcthcformofthcmatcrals.Furthcrmorc,cvcnnths
workofmodcaton wcarcconstantlyhclpcdbynaturalforccs.abour
sthcrcforcnotthconlysourccof matcralwcalth,.c.of thcusc-valucst
produccs.AsWllamctsays,laboursthcfathcrofmatcralwcalth,thc
carthstsmothcr. (]]-()
Wth thc hclp of ths gcndcrcd mctaphor (whch datcs back at lcast to
FrancsBacon),Marx ntroduccsacrucaldstnctonbctwccnwcalth
thctotalusc-vaucsatonc`scommand-andvaluc-thcsocallyncccssary
8D0I !IH0 !h0S0 uS0V8u0S I0I0S0H!.
Marxthcnrcturnstothcgucstonofvalucsnordcrtocontrastthcr
homogcncty(allproductsofhumanlabor)wththcvasthctcrogcnctyof
usc-valucsandofconcrctcformsoflaborng.Hcwrtcs,
1alorngandwcavng,althoughthcyarcqualtatvclydcrcntproductvc
actvtcs, arc both a productvc cxpcndturc of human brans, musclcs,
ncrvcs,hands ctc.,andn thsscnscbothhumanlabour.Tcyarcmcrcly
two dcrcnt frms of thc cxpcndturc of human abour-powcr. Of
coursc, human labour-powcr must tsclf havc attancd a ccrtan lcvc
of dcvclopmcnt bcforc t can bc cxpcndcd n ths or that form. But thc
valuc of a commodty rcprcscnts human labour purc and smplc, thc
cxpcndturcof humanlabourngcncral.(](-)
As such, t s what Marx calls "abstract" labor (]}). Js knd of
gcncraltyoflaborcontrastswththcmyrad concrctclaborsproducng
actua usc-valucs.!ncrcatng ths conccpt of abstractlabor,Marx hods
that hc s mcrcly mrrorng an abstracton produccd by cxtcnsvc
commodtycxchangcs.
So Marx conccptualzcs valuc n tcrms of unts of smplc abstract
labor, ths standard of mcasurcmcnt "varcs n charactcr n dhcrcnt
countrcsandatdhcrcntculturacpochs,butna partcuar socctyts
gvcn.`HcrcaganwccncountcrastratcgyfrcgucntydcploycdnCa//a|.
Jhcstandardofmcasurcmcntscontngcntonspaccandtmc,butforthc
purposcsofanalysswcassumctsknown.Furthcrmorc,nthsnstancc,
COMMODITIS AND XCHANC 2Q
hcthcngocsontosay,"complcxlabour,` c.,skillcdlabor,"countsonlyas
/ntcnsjfcd, orrathcrmu|t/|/cd simplclabour,sothatasmallcrguantityof
complcxlabourisconsidcrcdcgualtoalargcrguantityofsimplclabour":
Expcricncc shows that this rcduction is constantly bcing madc. A
commodity may bc thc outcomc of thc most complicatcd labor, but
through its valuc itis positcd ascgual to thc product of simplc labor .. .
In thcintcrcstsof simplihcation,wcshallhcnccforthvicwcvcryformof
labour-powcrdircctlyassimplclabour-powcr,bythiswcshallsimplybc
savingoursclvcsthctroublcofmakingthcrcduction.()
otably,Marxncvcrspccihcswhat"cxpcricncc"hchasinmind,making
this passagc highly controvcrsial. In thc litcraturc it is known as thc
"rcductionproblcm,`bccauscitisnotclcarhowskillcdlaborcanbcand
isrcduccdtosimplclaborindcpcndcntlyofthcvalucofthccommodity
produccd.Rathcr likc thc proposition abot valuc as socially ncccssary
labortimc,Marx`sformulationappcarscryptic,ifnotcavalicr,hcdocsnt
cxplainhowthcrcductionismadc.Hcsimplyprcsumcsforpurposcsof
analysisthatthisissoandthcnprocccdsonthatbasis.Jismcansthatthc
gualitativcdihcrcnccswc cxpcricnccinconcrctclabor,uscfullaborand
thchctcrogcncityof it,ishcrcrcduccd to somcthingpurclyguantitativc
andhomogcncous.
Marx`s point,of coursc,is that abstract (homogcncous) and concrctc
(hctcrogcncous)aspcctsoflaborarcunihcdinthcunitaryactoflaboring.
Itisnotasifabstractlaboroccursinoncpartofthcfactoryandconcrctc
laboroccurssomcwhcrcclsc.Jhcdualityrcsidcswithinasingularlabor
proccssmaklngthcshlrtthatcmbodlcshcvalc.lsmcasthcccod
bcnocmbodimcntofvalucwithoutthcconcrctclaborofmakingshirts
and, furthcrmorc, that wc cannot know what valuc is unlcss shirts arc
bcingcxchangcdwithshocs,applcs,orangcsandsoon.Jhcrcis,thcrcforc,
a rclationship bctwccn concrctc and abstract labor. It is through thc
multipliciticsofconcrctclaborsthatthcmcasuring rod ofabstractlabor
cmcrgcs.
Onthconchandalllabourisan cxpcnditurcof humanlabour-powcr,in
thcphysiologicalscnsc,anditisinthisqualityofbcingcqual,orabstract,
humanlabourthatitformsthcvalucofcommoditics.Onthcothcrhand,
alllabouris cxpcnditurcofhumanlabour-powcr inaparticularform
jO A COMPANION TO MARX
'
S CAPI7AL
andwithadchnitc aim,andit is in this guaIity oIbcingconcrctcuscIuI
Iabour that itproduccs usc-vaIucs.(;)
otc that ths argumcnt mrrors that oI thc hrst sccton. Jc sngular
commodty ntcrnalzcs usc-valucs, cxchangc-valucs and valucs. A
partcular Iabor proccss cmbodcs uscIul concrctc labor and abstract
labor or valuc (socaIly ncccssary labor-tmc) n a commodty thatwll
bc thc bcarcr oIcxchangcvaIuc n thc markct pIacc. Jc answcr to thc
probIcmoIhowskllcdorcomplcxlaborcanbcrcduccdtosmplclabor
partaIIy lcs, t turns out, n thc ncxt sccton, whcrc Marx Iollows thc
commodtyntothcmarkctplaccandtakcsupthcrclatonbctwccnvaIuc
andcxchangc-valuc.Solctusmovcontosccton.
Scc//cn 1hc \a/uc Fcrm, cr xchangc- \a/uc
is scction incorporacs,inyvicw,aIootboring atcriaIthat can
all too casly mask thc sgnhcancc oIthc argumcnt bcng madc. Marx
somctmcs puts on, as I pontcd out carlcr, an accountant`s hat, and
thc rcsult s a Iorm oI cxposton that can bc tcdous n thc cxtrcmc
whcn ths cguals that and that cguals ths and ths costs thrcc pcncc
andthshhccn,thcnthcrcsultsthatsomcthngclscscguvalcntto. .
.andsotgocs,wththchclpoIallmanncroInumcrcalIlustratonsto
Iollow. Jcwoods-Ior-thc-trccs problcm,whch ohcn arscs n Marx`s
wrtng,s at tsworsthcrc,so thssa goodpont tohgurc outhowto
approacht.I shall dcal wth ths at two lcvcls I wIl skm ovcr what s
ohcn a smpIc, tcchncal argumcnt, and thcn commcnt on ts dccpcr
sgnhcancc.
Marx`sobjcctvcstocxplanthcorgnoIthcmoncy-Iorm.Wchavc
topcrIormatask,`hc(agan,somodcstIy!)cIams,ncvcrcvcnattcmptcd
bybourgcoscconomcs.`
Tatis,wchavc to show thcorigin oIthismoncy-Iorm,wchavc to tracc
thcdcvcIopmcntoIthccxprcssionoIvaIuccontaincdinthcvaIuc-rcIation
oI commoditics Irom its simpIcst, aImost impcrccptibIc outIinc to thc
dazzIing moncy-Iorm.Whcn this has bccn donc, thc mystcry oImoncy
wiII immcdiatclydisappcar.(p)
Hc accomplshcs ths task n ascrcsoIhcavy-handcd stcps, bcgnnng
wthasmplcbartcrstuaton.Ihavcacommodty,youhavcacommodty.
COMMODITIS AND XCHANG j 1
Jcrc|a//vc va|uc ofmycommodityisgoingtobccxprcsscdintcrsofthc
vaIuc(thcIaborinput)ofthccommodityyouhoId.Soyourcommodityis
goingtobcamcasurcofthcvaIucofminc.JurnthcrcIationshiparound,
and my commodity can bc vicwcd as thc cguivaIcnt vauc of yours. In
simpIcbartcrsituationsofthissort,cvcrybodywhohasacommodityhas
somcthing with a rcIativc vauc and Iooks for its cguivaIcnti anothcr
commodity.SinccthcrcarcasmanycommoditicsasthcrcarcpcopIcand
cxchangcs,thcrc arc as manycguivaIcntsas thcrc arccommoditicsand
cxchangcs.AMarxrcaIIywantstoshowhcrcisthatthcactofcxchangc
aIwayshasaduaIcharactcr-thcpoIcsofrcIativcandcguivacntforms
in which thc cguivaIcnt commodity hgurcs "as thc cmbodimcnt of
abstract human Iabour" (:,o). hc opposition bctwccn usc-vaIuc and
vaIuc, hithcrto intcrnaIizcd within thc commodity,"gcts rcprcscntcd on
thcsurfaccbyancxtcrnaIopposition"bctwccnonccommoditythatis a
usc-vaIucandanothcrthatrcprcscntsitsvaucincxchangc(:,{).
In a compIcxhcIdofcxchangcsIikcthcmarkctpIacc,mycommodity
wiII havc muItipIc potcntiaI cguivaIcnts, andconvcrscIy,cvcrybody out
thcrchasrcIativcvaIucsinapotcntiaIrcIationwithmysinguIarcguivacnt.
An incrcasing compIcxity of cxchangc rcIations produccs an"cxpandcd
for` of vaIucthatmorphsinto a"gcncraIfor`of vaIuc(b,:,|-;, and
c, :,;-6z). Jis uItimatcIy crystaIIizcs in a "univcrsaI cguivacnt": onc
commodity that pIays thc cxcIusivc roIc of a "moncy commodity" (d,
:6z-{). hc moncy commodity ariscs out of a trading systcm and docs
not prcccdc it, so it is thc proIifcration and gncraIization of cxchangc
rcIationsthatisthccruciaI,ncccssaryconditionforthccrystaIizationof
thcmoncy-form.
H MsIc,cooIIcsIIcgoIandsIIvcrhadcmcrgcdtopIay
thiscruciaIroIc,butitcouIdinprincipIcbccowryshcIIs,cansoftunaor
ashassomctimcshappcncdin disruptivc conditions of war-cigarcttcs,
chocoIatcorwhatcvcr.Amarkctsystcmrcguircsamoncycommodityof
somc sorttofunctionchcctivcIy,butamoncycommoditycanonIycomc
intobcing through thcriscof markctcxchangc.Moncy wasnotimposcd
fromoutsidc,norinvcntcdbysomcbodywhothoughtitwouIdbcagood
idcatohavcamoncy-form.LvcnsymboIicforms,Marxargucs,havctobc
undcrstoodinthiscontcxt.
Jis givcs risc to an intcrcsting intcrprctivc gucstion, onc that crops
up a numbcr of timcs in Ca//a|. is Marxmaking a historicaI argumcnt
oraIogicaIargumcnthchistoricaIcvidcnccsupportinghiscxpIanation
] 2 A COMPANlON TO MARX'S CAPI7AI
othowthc moncy commodty arosc wouIdnow,! thnk,bc rcgardcd as
rathcr thn. uas-monctary systcms and commodtcs, rcIgous cons
andsymboIctokcnsandthcIkc,havcIongbccnncxstcncc,andwhIc
cxprcssvc ot somc sort otsocaI rcIaton, thcsc havc had no ncccssary
prmtvcrcIatontocommodtycxchangcscvcnasthcygraduaIIybccamc
mxcdupnsuchcxchangcs.!twcwcrctoconsuItthcarchacoIogcaIand
hstorcaIrccords,manywouIdnowprobabIyhoIdthatthcmoncy-torm
ddntarscthcwaythatMarxproposcsataI!amncIncdtoacccptthat
argumcnt,butthcnontopottsaythctoIIowng-andthscomcsbackto
Marx`sntcrcstn undcrstandngacaptaIstmodcotproducton.\ndcr
captaIsm,thcmoncy-tormhastobcdscpIncdtoandbroughtntoInc
wththcIogcaIpostonthatMarx dcscrbcs,suchthatthcmoncy-torm
rcIcctsthc nccds otasystcmotproItcratngcxchangcrcIatons.8utby
thc samc tokcn torgvc thc pun), t s thc proItcraton otcommodty-
cchangcrcIationsthatdiscipIincsanyandaIIprcccdingsymboIictorms
to thc moncy-torm rcgurcd to tacItatc commodty-markct cxchangc.
Jc prccursors otthc moncy-torm, whch can ndccd bc tound n thc
archacoIogcaI andhstorcaI rccord otconagc,havc to contorm to ths
IogctothcdcgrccthatthcygctabsorbcdwthncaptaIsmandpcrtorm
thctunctonotmoncy.Atthcsamctmc,tshouIdbc cIcarthatthcmarkct
couIdnothavccvoIvcdwthoutthatdscpInngtakngpIacc.Joughthc
hstorcaIargumcntswcak,thcIogcaIargumcntspowcrtu
Jhs scctonasawhoIc cstabIshcs,thcn,thc ncccssaryrcIatonbctwccn
commodty cxchangc and thc moncy commodty and thc mutuIy
dctcrmnatvcroIcthatcachpIaysnthc dcvcIopmcntotthcothcr.8utthcrc
smuchmorcgongonnthsscctontowhchwcnccdtopaycIoscattcnton.
Atthcvcrybcgnnngotthcsccton,Marxdcscrbcsthcwaynwhch
thc objcctvty ot commodtcs as vaIucs dcrs trom Oamc uckIy n
thc scnscthata manknows notwhcrc tohavctNot an atom otmattcr
cntcrs nto thc objcctvty ot commodtcs as vaIucs, n ths t s thc
drcct oppostc ot thc coarscIy scnsuous objcctvty ot commodtcs as
physcaI objccts.cmaytwst and turn asngIc commodtyaswcwsh,
t rcmans mpossbIc to graspt asathngposscssngvaIuc.Howcvcr,Ict
us rcmcmbcrthatcommodtcs posscss an objcctvccharactcras vaIucs
onIyn so tar asthcy arc aII cxprcssons otan dcntcaI socaI substancc,
humanIabour,thatthcrobjcctvc charactcrasvaIucssthcrctorc purcIy
socaI. From ths t toIIows scIt-cvdcntIy that t can onIy appcar n thc
sociaIrcIation bctwccn commodtyandcommodty. (8)
COMMODlTIES AND EXCHANGE j j
Jhisisanabsolutcly vital pointthatcannotbcovcrcmphasizcd: valucis
immatcrial butca]cc//vc. GivcnMarx`s supposcd adhcrcncctoarigorous
matcrialism,thisis,onthcfaccofit,asurprisingargumcnt,andwchavc
to wrcstlc a bit with what it mcans. Valuc is a social rclation, and you
cannot actually scc,touch or fccl socialrclationsdircctly, yct thcy havc
anobjcctivcprcscncc.Wcthcrcforchavctocarcfullycxamincthissocial
rclationanditscxprcssion.
Marx proposcs thc following idca valucs, bcing immatcrial, cannot
cxist without a mcans of rcprcscntation. H is, thcrcforc, thc risc of thc
monctary systcm, thc risc of thc moncy-form itsclf as a mcans of
tangiblc cxprcssion, that makcs valuc (as socially ncccssary labor-timc)
thcrcgulatorof cxchangcrclations.Butthcmoncy-formcomcscloscr
stcp by stcp, givcn thc logical argumcnt-to cxprcssing valuc only as
commodity-cxchangc rclations prolifcratc. Jhcrc is, thcrcforc, nothing
univcrsaloutthcrccallcd"valuc"thatahcrmany,manyycarsofstruggling
hnally gcts to bc cxprcsscd through monctary cxchangc. Rathcr, thcrc
is an intcrnal and cocvolving rclation bctwccn thc risc of thc moncy-
and thc valuc-forms. Jhc risc of monctary cxchangc lcads to socially
ncccssary labor-timc bccoming thc guiding forcc within a capitalistic
modcof production.Jhcrcforc,valucas socially ncccssary labor-timcis
historically spccihctothccapitalistmodcof production. !tariscs onlyin
asituationwhcrcmarkctcxchangcisdoingthcrcguisitcjob.
Jhcrc arc two conclusions and onc major gucstion that dcrivc from
Marx`sanalysis.Jhc hrstconclusionis thatcxchangcrclations,far from
bcing cpiphcnomcna cxprcssivc of thc dccp valuc structurc, cxist in a
dialccticalrclationwithvalucssuchthatthclattcrdcpcndonthcformcr
s much as thc formcr dcpcnd on thc lattcr. Jhc sccond conclusion
conhrmsthcimmatcrial(phantom-likc),butobjcctivc,statusofthcvaluc
conccpt.AllattcmptstomcasurcvalucdircctlywillfailJhcbiggucstion
markconccrnshowrcliablcandaccuratcthcmoncyrcprcscntationisof
valucor,inothcrwords,howthcrclationbctwccnimmatcriality(valuc)
and objcctivity (as capturcd by thc monctary rcprcscntation of valuc)
actuallyunfolds.
Marxworksthroughthcproblcminanumbcrofstcps.Hccommcnts,
H is only thc cxprcssion of cquivacncc bctwccn dicrcnt sorts of
commoditicswhichbringstovicwthcspccihccharactcrofvaluc-crcating
labour,byactuallyrcducingthcdicrcntkindsoflabourcmbcddcdinthc
1
| A COMPANION TO MARX'S CAPI7AI
dicrcnt kinds oI commodity to thcir common quality oI bcing human
labouringcncral.(iz)
Hcrcwccncountcrapartialanswcr tothcgucstionoI howthcrcduction
Irom skillcd and complcx human labor to simplc human labor occurs.
Butthcnhcgocsontosay."humanabour-powcrinitsuidstatc -and
itisstriknghowocnMarxinvokcsthcconccptoIuidityin Ca//a/
"orhumanlabour,crcatcsvaluc,butisnotitsclIvauc.Hbccomcsvaucin
itscoagulatcdstatc,inobjcctivcIorm(:z). AdistinctionthcrcIorcnccds
to bcmadcbctwccn thclabor proccssandthcthing thatgcts produccd.
JisidcaoI arclationshipbctwccnproccsscsandthings,alongwiththc
idca oI uidity,isimportant in Marx`s analysis.Jcmorchcinvokcsit,
thc morc hc movcs away Irom dialcctics as a Iormal logic to dialcctics
asa philosophyoIhistoricalproccss.Humanlaborisa tangiblcproccss,
but at thccndotthcproccss,yougctthisthing acommodityhich
"coaguatcs or "congcas vauc. Whic thc actua proccss is what is
signihcant,itisthc/h/ng thathasvalucandthc/h/ng thathasthcobjcctivc
guaitics.Jus:
c valuc oI thc lincn as a congcalcd mass oI human labour can bc
cxprcsscdonlyasan`objcctivity`,athingwhichismatcriallydicrcntIrom
thc lincn itsclI and yct common to thc lincn and aothcr commoditics.
(iz)
Jcprobcmis: how docs vauc,this"thing whichis matcriay dihcrcnt
Irom thc incn` gct rcprcscntcd Jhc answcr lics in thc moncy-
commodity Iorm. But thcrc arc, hc notcs, somc pcculiaritics in this
rcationship bctwccn vauc and its cxprcssion in thc moncy-Iorm."Jhc
hrstpccuiaritywhichstrikcsus`hcwritcs,isthataparticularusc-vauc
"bccomcsthcIormoIappcaranccoIitsoppositc,vauc,`andthis"conccas
asocialrclation(:|8-).
Hcncc thc mystcriousncss oI thc cquivalcnt Iorm, which only
impingcs on thc crudc bourgcois vision oI thc political cconomist
whcn it conIronts him in its Iully dcvclopcd shapc, that oI moncy.
c thcn sccks to cxplain away thc mystical charactcr oI gold and
silvcr by substituting Ior thcm lcss dazzling commoditics, and, with
cvcrrcncwcd satisIaction, rccling o a cataloguc oI all thc inIcrior
COMMODITIES AND EXCHANGE ,
commodtcswhch havc playcd thc rolc otthc cguvalcnt at onctmc
oranothcr.((pc)
"Jnc body otthc commodty,` hc gocs on to say, "whch scrvcs as thc
cguvaIcnt,aIways hgurcs asthc cmbodmcnt otabstracthumanIabour,
and s aIways thc product ot somc spcchc usctul and concrctc Iabour
c) .What docs ths say GoId,tor cxampIc, s a spcchc usc-vaIuc, a
spcchc commodty, produccd undcr spcchc condtons otproducton,
and yct wc arc usng t as a mcans ot cxprcsson ot aII human labor
cvcrhcrc-wcarctakngapartcuIarusc-vaIucandusngtasastand
n tor aII socaI Iabor. Jns rascs compIcatcd gucstons, as wc wII scc
whcnwcgctdccpcrntothcthcoryotmoncynchaptcr2.
Jnc sccond pccuIarty s that"concrctc Iabour bccomcs thc torm
otmantcstatonottsoppostc,abstracthumanIabour,`andthcthrd
pccuIartysthat"prvatcIabourtakcsthctormottsoppostc,namcIy
Iabour n ts drcctIy socaI torm (c). Jns mcans not onIythat thc
unvcrsaIcguvaIcnt,thcmoncycommodty,ssubjccttothcguaItatvc
andguanttatvc probIcms thatbcsctthcproducton otanyusc-vaIuc,
but that thc producton and markctng otthc moncy commodty as
wclI as ts accumuIaton (cvcntuaIIy as captaI) Ic n prvatc hands
cvcn as t pcrtorms ts unvcrsaIzng socaI tuncton. Whcn goId
was stII a domnant commodty undcrpnnnggIobaI moncy at thc
cnd otthc p6cs, tor cxamplc, thc two prmary goId produccrs wcrc
SouthAtrca and Russa, ncthcr otwhchwaspartcuIarIytrcndIyto
ntcrnatonaI captalsm.c dcmatcraIzaton otthc whoIc hnancaI
systcmnthccarIyp;candthcsystcmothoatncxchancratcs,trcc
trom anyoId standard, that thcn camc ntobcn hadthc chcct ot
dscmpowcrng thcgoIdproduccrs (cvcntthswasnotthcprmary
rcasontoccurrcd).
Jncscarcthcsorts otcontradctons that Marx`s analyssIcadsusto
contcmplatc, andwc Iatcr sccpartcularly n Volumc !!! but also n
chaptcrotthsvolumc-howthcscpccuIartcsandcontradctonsstart
toplayoutnthccrcatonotpossbItcstorhnancaI crscs.!nanycasc,
thc tundamcntal concluson has to bc that thc rclaton bctwccn vaIucs
and thcr rcprcscntaton n moncy-torm s traughtwth contradctons,
and so wc can ncvcr assumc a pcrtcct torm ot rcprcscntaton. ns
msmatch,astwcrc,bctwccnvaIucsandthcrrcprcscntatonturnsoutto
havcadvantagcscvcnastsdccpIyproblcmatc,aswcwIIscc.
j A COMPANION TO MARX'S CAP7AI
Js brngs us toanmportant passagc on ArstotIc."Jncrc can bc
no cxchangc,`says ArstotIc,"wthout cguaIty, and no cguaItywthout
commcnsurabI`JcrcIatonshpbctwccnthcrcIatvcandcguvaIcnt
tormsotvaIucprcsupposcsancguaItybctwccnthoscdongthccxchangcs.
JnsattrbutcotcguaItywthnthcmarkctsystcmstcrrbIymportant,
MarxundcrstandstasbcngtundamcntaItohowcaptaIsmthcorctcaIIy
works. ArstotIc, too, undcrstood thc nccd tor commcnsurabIty and
cguaItyncxchangcrcIatons,buthccouIdn`thgurcoutwhatIaybchnd
t.Whynot Marx's answcr s that"Grcck soccty was toundcd on thc
IabourotsIavcs,hcncchadastsnaturaIbassthcncguaItyotmcnand
otthcrIabour-powcrs z). !nasIavc-hoIdngsocctythcrc canbcno
vaIucthcoryotthcsortthatwcarcgongtohndundcrcaptaIsm.Agan,
notcthchstorcaIspcchctyotthcvaIucthcoryto captaIsm.
JsthcnbrngsMarxbacktocxpandonthcthrccpccuIaritcsotthc
moncy-torminordcrtoidcntiancmcrgcntopposition:
Tc ntcrnaI opposition bctwccn usc-vaIuc and vaIuc, hddcn within
thc commodity, is thcrctorc rcprcscntcd on thc surtacc by an cxtcrnaI
oppositon,.c.by arcIationbctwccntwocommodtcssuchthatthc onc
commodty,whoscownvaIucssupposcdtobccxprcsscd,countsdircctIy
onIyasausc-valuc,whcrcasthcothcrcommodity,nwhichthatvaIucisto
bc cxprcsscd,countsdrcctIyonIyascxchangcvaIuc.()
Jnsoppostonbcccnthccxprcssonot vaIucandthcwordot commodtcs,
an opposton that rcsuIts n an "antnomy bctwccn commodtcs and
moncy, has to bc ntcrprctcd as an cxtcrnaIzaton ot somcthng that s
ntcrnaIzcdwthnthccommodtytscIncccxtcrnaIzcd,thcopposton
bccomcs cxpIct. Jnc rcIatonshp bctwccn commodtcs and moncy s a
productotthatdchotomybctwccnusc-vaIucandcxchangc-vaIucwhchwc
spottcdasntcrnaItothccommodtyatthcvcrybcgnnng.
So,whatdowctakctromthsFrst,socaIIyncccssaryIabor-tmccannot
opcratc as arcguIatorotwhats happcnng drcctIy, bccausc t s a socaI
rcIaton. !ndrcctIy, twdo sothrough thc mcdum otthc moncy-torm.
Furthcrmorc,thc rsc otthc moncy-tormswhatpcrmtsvuc to startto
crystaIzc out as thc gudng prncpIc othow a captaIst cconomyw
!. Cui/u/, !5!. hcguotatons tromArstotIc,asctcdbyMx,arctrom
Nicomuchcun L/hic:, 8ookchaptcr 5.
COMMODJTJES A~D EXCHA~GE ;
work.And,aIways rcmcmbcr, vaIuci simmatcriaI but objcctivc.o this
crcatcsguitc aIotof probIcmsforcommonscnscIogic that assumcs valuc
canactuallybcmcasurcd,cvcnsomcMarxistcconomistsspcndalotoItimc
cxplaininghowthcycandoso.Myargumcntwouldbc.youcantdoit.!fit
isimmatcrial,youcannotmcasurcitdircctly.JohndvaIucH acommodity
byjustIookingatacommodityislikctryingtohndgravityHastonc.HonIy
cxistsinrclationsbctwccncommoditicsandonlygctscxprcsscdmatcrialy
inthccontradictoryandproblcmaticIormofthcmoncycommodity.
Lct mc now takca momcnt to rchcct furthcr on thcstatus of thc thrcc
fundamcntaIconccptsof uscvaIuc,cxchangc-vaIucandvaIucthatMarx
scts out. !n doing so, ! wilI imposc somc of my own rchcctions that
ariscoutof myspccihcintcrcsts,whichyoumayacccptorrcjcctasyou
Iikc. Jcsc thrcc dihcrcnt conccpts intcrnaIizc fundamcntalIy dihcrcnt
spatiotcmporaIrcfcrcnts.LscvaIucscxistinthcphysicaImatcriaIworId
of things that can bc dcscribcd in cwtonian and artcsian tcrms of
absolutc spacc and timc.Lxchangc-vaIucslic in thc rclativc spacc-timc
oImotionandcxchangcoIcommoditics,whilcvalucscanbcundcrstood
onIy in tcrms of thc rcIationaI spacc-timc of thc world markct. (Jc
immatcriaI rcIationaI vaIuc of sociaIIy ncccssaryIabor timcscomcs into
bcing within thc cvolving spacc-timc of capitalist globaI dcvcIopmcnt.)
ButasMarxhasalrcadyconvincingIyshown,vaIucscannotcxistwithout
cxchangc-valucs,andcxchangccannotcxistwithoutuscvalucs.Jcthrcc
conccptsarcdialccticaIlyintcgratcdwithoncanothcr.
!n thc samc way, thc thrcc forms of absoIutc, rcIativc and rclationaI
spacc-timc arc diaIccticaIIy rcIatcd within thc historicaI-gcographicaI
dynamcs otcapitaIst dcvclopmcnto Jis is my arumcnt asageographcr.
nc oI thc major conscgucnccs is that thc spacc-timc of capitalism is
not constant but variablc (as happcns with spccd-up and what Marx
cIscwhcrc calls "thc annihilation oI spacc by timc wrought through
pcrpctualrcvolutionsintransportandcommunications).!cannotrcfrain
frominjcctingthisintothcdiscussionIoryourconsidcration!!Iyouwant
to Iollow up on thcgucstion of spatiotcmporaI dynamics of capitaIism,
though,youwiIlhavctolookclscwhcrc.
2. Marx,Grundr::c, 524.
3. OavdHarvcy,Succ: o[G/o0u/ Cu/u/:m. 1owurd: u 1hcor] o[Lncvcn
Gcogruhcu/ Ocvc/omcn/ (!ondon.Vcrso,2006).
{ 8 A COMPAMlOM TO MARX'S CAP7AI
Scc/lcn q. Tc Fc/lshlsm c{ /hc Ccmmcdl/) and I/s Sccrc/
hs scctonswrttcnnacomplctclydhcrcnt, rathcrltcrary,styIc
cvocatvc and mctaphorc, magnatvc, playtuI and cmotvc, tull
ot allusons and rctcrcnccs to magc, mystcrcs and nccromanccs.
Jcrc s a markcd contrast wth thc dull accountancy stylc ot thc
prcvous sccton. Js s rathcr typcaI ot Marx`s tactcs throughout
Cal/a/, hc ohcn shhsIngustcstyIcs accordngtothc subjcct undcr
consdcraton.!nths casc, thcswtch cancrcatc somc contusonasto
thc rclcvancc otthc tctshsm conccpt n Marx's ovcrallargumcnt a
contusoncxaccrbatcdbythctactthatthsscctonwasmovcdtroman
appcndx n thc hrst cdton otCal/a/ to ts currcnt poston-along
wthsccton-onlynthcsccond,dchntvccdton) . Jhoscntcrcstcd
n dcvclopng a rgorous poItcal-cconomc thcory out ot Marx, tor
cxampIc, somctimcs sccm to vicw thc tctishism conccpt as cxtrancous,
not to bc takcn too scrousIy. n thc othcr hand, thosc ot a morc
phIosophcaIorItcrarypcrsuasonohcntrcattasthcgoIdcnnuggct,
thc toundatonaI momcnt to Marx`s undcrstandng otthc worId. So
oncotthc gucstons wchavcto asks. how docs ths sccton standn
rcIatontoMarx`sovcralIargumcnt
Jc tctshsm conccptwas aIrcadysgnalcdn hs dscusson otthc
waysnwhchmportantcharactcrstcsotthcpoItcaIcconomcsystcm
gct"conccalcdorcontuscdthroughthc"antnomcsand"contradctons
bctwccn, tor cxamplc, thc partcuIartcs otthc moncy commodty on
thconc hand andthc unvcrsaIty otphantom-IkcvaIucsonthc othcr.
1cnsons,oppostonsandcontradctonsthathavc aIrcadybccnopcncd
up nthctcxtnowcomcntordctaIcdscrutnyundcrthchcadng"Jc
ctshsmotthcCommodtyand!tsSccrct6). Jroughoutthcrcstot
Cal/a/, aswcwIlscc,thcconccptottctshsmcmcrgcsaganandagan
morcohcntactIyrathcrthancxplctly)asacsscntaItooItorunravcIng
thc mystcrcs otcaptaIst poltcal cconomy. ! consdcr thc conccpt ot
tctshsm,thcrctorc,astundamcntaltothcpoItcaIcconomyaswcIIasto
Marx`swdcrargumcnt.!nchcct,tconjonsthctwoatthchp.
Jhc analyss procccds ntwo stcps. Frst,hc dcnthcs how tctshsm
arscs and works as a tundamcntaI and ncvtabIc aspcct ot poItcaI-
cconomc ltc undcrcaptalsm. Sccond,hccxamncshowths tctshsm
smsIcadnglyrcprcscntcdnbourgcosthoughtngcncraIandclasscal
poltcalcconomynpartcular.
COMMODJTJES AND EXCHANGE
9
Commodtcs, hc bcgns by obcrvng, "abound n mctaphyscaI
subtIctcs andthcoIogcaIncctcs.
Jncmystcrous charactcr ott commodtytorm conssts . . . smpIyn
thctactthattnccommodtyrchcctsthcsocaIcharactcrstcsotmcsown
IabourasobjcctvccharactcrstcsotthcpoductsotIabourthcmscIvcs,as
thcsoco-naturaIpropcrtcsotthcsc thngs.6(-)
Jc probIcm s that "thc commodtytorm, and thc vaIuc-rcIaton ot
thc products ot Iabour with whch t appcar, havc absoIutcIy no
conncctonwththcphyscaInaturcotthccommodtandthcmatcraI. . .
rcIatonsarsngoutotths`

urscnsuouscxpcrcccotthccommodty
asusc-vaIuchas nothngtodowthtsvaIuc.Commodtcsarc,thcrctorc,
"scnsuous thngs whch arc at thc samc tmc suprascnsbIc or socaI`
Jnc rcsuIt sthata"dchntc socaI rcIaton bcwccn mcnthcmscIcs . . .
assumcshcrc,torthcm,thc tantastc torm otarcIatonbctwccn thngs`
Andt s ths condton that dchncs"thc tctsh

smwhch attachcs tscIt

tothcproductsotIabouras soo asthcyarcroduccd ascommodtcs`
Jstctshsms"nscparabIctromthcproductonotcommodtcs6).
Jssso,hcsays,bccausc"thcproduccrsdonotcomcntosocaIcontact
untIthcycxchangcthcproductsotthcrIabour`sothatthcyonIycomcto
know"thc spcchc socaI charactcrstcs otthcprvatcIabourn thcact
otmarkct cxchangc. !n othcr words,thcydontand cant knowwhatthc
vaIucotthcrcommodtysutIthcytakctto

hcmarkctandsucccssmIIy
cxchangc t. "1o thc produccrs, thcrctorc, thc socaI rcIatons bctwccn
tncrpivatcIabours appcaraswhattncyac-notcpIcasc cspciaIIythc
mportant phrasc, aear as vbat tbe) are-"c. thcy do not appcar as
drcctsocaIrcIatons bctwccpcrsonsnthcrwork,butrathcrasmatcraI
. . . rcIatonsbctwccnpcrsonsand socaIrcIatonsbctwccnthngs6-6).
SowhatsgongonhcrcYgontoasupcrmarkctandyouwanttobuya
hcadotIcttucc.!nordcrtobuythcIcttucc,youhavctoputdownaccrtansum
otmoncJncmatcraIrcIatonbctwccnthcmoncyandthcIcttucccrcsscs
asocaIrcIatonbccauscthcprcc-thc"howmuchssocaIIydctcrmncd,
andthcprccsamonctaryrcprcscntatonot vaIuc.H

cnwthnthsmarkct
cxchangc otthngs s arcIaton bctwccnyou,thc consmcr, andthc drcct
produccrsthoscwho Iaborcd to producc thc Icttucc.NotonIydoyou not
havctoknowanythngaboutthatIabororthcIaborcrswho congcaIcdvaIuc
nthcIcttuccnordcrtobuyt,nhgnIycompIicatcd systcmsotcxcnangct
(
o A COMPAMlOM TO MARX'S CAPI7AI
s/moss/a/c toknowanthngaboutthcIabororthcIaborcrs,whchswhy
tctshsms ncvtabIc n thc worIdmarkct.Jnc cnd rcsuIts that our socaI
rcIatonto thcIaborng actvtcs otothcrs s dsguscdn thc rcIatonshps
bctwccn thngs. You cannot, tor cxpIc, hgurc out n thc supcrmarkct
whcthcrthcIcttucchasbccnproduccdbyhappyIaborcrs,mscrabIcIaborcrs,
sIavcIaborcrs,wagcIaborcrsorsomcscIt-cmpIoycdpcasant.JcIcttuccsarc
mutc,astwcrc,astohowthcywcrcproduccdandwhopoduccdthcm.
Why s ths mportant Whcn ! taught ntroductory gcography
cIasscs at ohns Hopkns, ! aIways startcd ohby askng studcnts whcrc
thcr brcaktast camc trom. And thcy`d say, "h, ! bought stuh at thc
dcI`8utwhcn! askcdthcmtothnkbackturthcrthan that,thcytound
thcmscIvcs consdcr a whoIc ncrcdbIc worId ot Iaborng n radcaIIy
dhcrcntgcographcaIcnvronmcnts andundcr radcaIIydhcrcntsocaI
ondIonIaIIcyncnotngaboutandouIdnonothngabout
tromstarngatthcrbrcaktastngrcdcntsorgongntothcdcI.Jcbrcad,
thc sugar,thc cohcc, thc mIk, thc cups,knvcs and torks, toastcrs and
pIastc pIatcs-to say nothng otthc machncry and cgupmcnt nccdcd
toproduccaIIthcscthngs-Inkcdthcmto mIIons otpcopIcIaborng
awayaIIaroundthcworId. ncotthcIasksotgcographcaIcducatons
tompartsomcthngaboutthcvarctyotsoco-cnvronmcntaIcondtons,
spataIInkagcs andIaborpractccsnvoIvcdncvcryaspcctotdaIyItc,
downto puttngbrcaktastonthc tabIccvcryday.
Jnc studcnts dd somctmcs sccm to thnk! was tryng to guIt-trp
thcmtor notpayngmorc mndtothosc poor sugar-canc cuttcrs nthc
Oomncan RcpubIcwho carncd ncxt to nothng. Whcn t got to that
stagc thcy wouId somctmcs dccIarc "Sr, ! ddnt havc brcaktast ths
mornng 1othat!wouIdcharactcrstcaIIyrcpIythatthcymghtwant
todowthoutIunch,dnncr,andsuppcr too torawcckorsojusttoIcarn
thctruthotthcbascMarxanmaxmthatwchavctocatnordcrtoIvc.
!ssucsotthsknddorascmoraIgucstons.Jncrcarcthoscwho,torvarous
rcasons, proposc aII manncr ot codcs ot moraI conduct n ntcrpcrsonaI
rcIatons,butwhothcntaccthcdIcmmaotwhcthcrorhowtocxtcndthat
moraIcodcntothcworIdotcommodtycxchangcsnthcworIdmarkct.H
saIIvcrywcIItonsston"goodtacc-to-taccrcIatonsandtobchcIpmIto
onsncghbor,butwhatsthcpontotthatuwcarctotaIIyndhcrcnttoaII
thoscwhomwcdonotknowandcanncvcrknow,butwhopIay avtaIroIc
n provdng uswth our daIybrcad Jncsc ssucs arc somctmcbrought
to our attcnton.bythc"tar tradcmovcmcnt,torcxampIc,whch trcs to
COMMODITIES A~D EXCHA~GE q1
artcuatcamoraIstandardtor thcwodotcommodtycxchangc,andthc
ant-povcrtymovcmcnt,whch sccks to mobIzc chartabIc contrbutions
tordstantothcrs.8utcvcnthcscusuaIIytaItochaIIcngcthcsocaIrcIatons
thatproduccandsustanthccondtonsotgIobaIncguaIty.wcathtorthc
chartabIcdonorsandpovcrtytorcvcryonccIsc.
Marx'spontsnot,howcvcr,aboutthcmoraImpIcatons.Hsconccrn
s to show how thc markct systcm and thc moncy-torms dsgusc rcaI
socaIrcIatonsthroughthccxchangcotthngs.Hcsnotsayngthatthis
disguisc,whchhccaIIs"tctshs 6) (andpIcascnotcthatMarx`s usc
otthstcrmstcchncaIandgutcdhcrcnttromothcrcommonusagcs),
samcrciIIusion,thatitsamadc-upconstructonthatcanbcdsmantcd
tonIywccarctotry.No,ntact,whatyousccsthcIcttucc,whatyouscc
syourmoncy,youscchowmuch,andyoumakctangbIcdccsonsbascd
onthatntormation.Jnssthcsignhcanccotthcphrasc"appcaraswhat
thcyarctrcaIIysthswaynthcsupcrmarkct,andwccanobscrvctso,
cvcnastmaskssocaIrcIatons.
Jhs tctshsm s an unavodabIc condton ot a captaIstc modc ot
producton,andthasmanyimpIcatons.ForcxampIc,pcopIcdonot"brng
thcproductsotthcrIabourntorcIatonwthcachothcrasvaIucsbccausc
thcysccthcscobjcctsmcrcIyasthcmatcraIntcgumcntsothomogcncous
humanIabour.Jncrcvcrscstruc.bycguatngthcrdhcrcntproductsto
cachothcrncxchangcasvaIucs,thcycguatcthcrdhcrcntkndsotIabour
ashumanIabour66).nccagan,wcsccthatvaIucsarscoutotcxchangc
proccsscscvcnascxchangcrcIatonsincrcasngIyconvcrgctocxprcssvaIuc
assocaIIyncccssaryIabor-tmc.8utthcproduccrs
do this without bcing awarc ot it. Valuc, thcrctorc, docs not havc ts
dcscriptionbrandcdon its torchcad itrathcrtranstorms cvcry product
ot labor into a social hicroglhic. atcr on, mcn try to dcciphcr thc
hicroglyphic, to gct bchind thc sccrct ot thcir own social product tor
thccharactcristicwhich objccts ot utilityhavc otbcingvalucs is as much
mcssocialproductasisthcirlanguagc.(66;)
Jc daIcctcaIrcIatonbctwccnvaIuctormaton and cxchangc and thc
mmatcraI,"phanto guaIticsotvaIuc asasocaIrcIationcouIdnotbc
morcstarkIyportraycd.
8ut how s ths daIcctc to bc rcpIcatcd n thought Many ot thc
poIticaIcconomstsgotit (andstIIgctt)wrong,saysMarx,bccauscthcy
q2 A COMPAMIOM TO MARX'S CAP7AI
Iookatprccsntcsupcrmarkctsandthnkthat`sa!thcrcs,andthatsthc
onIymatcraI cdcnccthcynccd to constructthcr thcorcs. JcysmpIy
cxamnc thc rcIatonshp bcccn suppIy and dcmand and assocatcd
prccmovcmcnts.thcrs,morcpcrccptvc,camcto"thcbcIatcdsccnthc
dscovcrythatthcproductsotIabor,nsotarasthcyarcvaIucs,arcmcrcIy
thc matcraIcxprcssonsotthc humanIaborcxpcndcdto producc thcm`
Jhs "marks an cpoch n thc hstory ot manknd`s dcvcIopmcnt (6;).
CIasscaIpoItcaIcconomyddgraduaIIyconvcrgc onsomcdcaotvaIuc
thatIaybchndthc huctuatons otthcmarkct(ohcnrctcrrcdtoas"naturaI
prccs)andtrccognzcdthathumanIaborhadsomcthngtodowtht.
8ut cIasscaI poItcaI cconomy taIcdto undcrstandthc gap bctwccn
thc mmatcraIty otvaIucs as"congcaIcdsocaI!y ncccssary Iabor-tmc
andthcrrcprcscntatonasmoncyandthcrctorcaIsotaIcdtoundcrstand
thc roIc that Ihc proIcraton ot cxchangc pIaycd n consoIdatng thc
vaIuc torm as somcthng hstorcaIIy spcchc to captaIsm. It assumcd
thatvaIucswcrcascIt-cvdcntandunvcrsaItruth,taIngtosccthat
thcvaIuccharactcrotthc products otIabourbccomcshrmIycstabIshcd
onIy whcn thcy act as magntudcs ot vaIuc. Jhcsc magntudcs vary
contnuaIIy, ndcpcndcntIy otthc !I, torcowIcdgc and actons otthc
cxchangcrs.Tcrownmovcmcntwthnsocchastorthcmthctormot
amovcmcntmadcbythngs,andthcscthngs,tartrombcngundcrthcr
controI,ntactcontroIthcm.(6;8)
Jus Marx bcgns hs attack on thc IbcraI conccpt ot trccdom. Jnc
trccdom otthc markct s not trccdom at aII. H s a tctshstc IIuson.
\ndcrcaptaIsm,ndvduaIssurrcndcrtothcdscpncotabstracttorccs
(suchasthchddcnhandotthcmrkctmadcmuchotbyAdamSmth)
thatchcctvcIygovcrnthcrrcIatonsandchoccs.Icanmakcsomcthng
bcauttuI and takc t to markct, but t I dont managc to cxchangc t
thcn t has novaIuc.Furthcrmorc,I wont havc cnough moncy to buy
commodtcstoIvc.Markcttorccs,whchnoncotusndvduaIIycontroI,
rcguIatcus.Andpart otwhatMarxwants to do n Ca//a/ s taIkabout
ths rcguIatorypowcr that occurs cvcn "n thc mdst otthc accdcntaI
and cvcr-huctuatng cxchangc rcIatons bctwccn thc products.` SuppIy
anddcmandhuctuatons gcncratc prcc huctuatons around somcnorm
butcannotcxpIanwhyaparotshocson avcragctradcstor tourshrts.
Wthn aII thc contusons otthc markctpIacc,"thc Iabour-tmc socaIIy
COMMODITJES AND EXCHANGE
(

ncccssary to producc commoditics asscrts itsclf as a rcgulativc law of
naturc.!nthcsamcway,thclawof gravity asscrts itsclf whcna pcrsos
housc colIapscs on top of him" (:68). Jis parallcl bctwccn gravity and
valucisintcrcsting.botharcrclationsandnotthings,andbothhavctobc
conccptualizcdasimmatcrialbutobcctivc.
JhisthcnlcadsMarxdircctlyintoacritigucofhowbourgcoismodcs
of thoughthavccvolvcd inrclationship to thcprolifcrationof cxchangc
rclationsandthcriscofthcmoncy-form.
Rcection on thcforms of human life,hcncc alsoscicntic analysis of
thoscforms,takcsacourscdircctlyoppositctothcirrcaldcvclopmcnt. . .
Conscqucntly,itwassolclythcanalysisofthcpriccsofcommoditicswhich
lcdtothcdctcrminationofthcmagnitudcofvaluc,andsolclythccommon
cxprcssion of all commoditics in moncy which lcd to thc cstablishmcnt
of thcir charactcr as valucs. H is howcvcr prcciscly thisnishcd form of
thcworld of commoditics-thcmoncy form-which conccals thc social
charactcrofprivatclabourandthcsocialrclationsbcccnthcindividual
workcrs,bymaking thoscrclationsappcar asrcIationsbcccnmatcrial
objccts,instcadof rcvcaIingthcmplainly.(:68-)
Jhis failurc of vision on thc part of thc classical political cconomists
is cpitomizcd in thc way so many of thcm cmbraccd Danicl Dcfoc`s
Rca/nscn Cruscc asamodclforapcrfcctmarkctcconomyarisingoutofa
statcofnaturc.Robinson,allonhisown,marooncdonanisland,logically
constructsawayof lifcappropriatctodwcllinginastatcofnaturcandstcp
bystcprcconstitutcsthclogicofamarkctcconomy.ButasMarxamuscdly
points out Robinsonbesides supposedyeaningomepeiene,had
aIsoconvcnicntly"savcdawatch,Icdgcr,inkandpcnfromthcshipwrcck
andimmcdiatclybcgan,"likcagoodLngIishman,tokccpasctofbooks"
(:6-;o). !n othcr words, Robinson carricd with him to thc island thc
mcntal conccptions of thc world appropriatc to a markct cconomy and
thcnwcntontoconstructarclationtonaturcinthatimagc.Jhcpolitical
cconomists pcrvcrscly uscd thc story to naturalizc thc practiccs of an
cmcrgcntbourgcoisic.
! havc long thought that thc political cconomists sclcctcd thc wrong
Dcfoc story. Mc0 Randcrs is a far bccr modcl for how commodity
production and circulation work. Moll bchavcs likc thc guintcsscntial
commodityforsalc.Shcisconstantlyspcculatingonthcdcsircsofothcrs,
and othcrs arc constantly spcculating on hcr dcsircs (thc grcat momcnt
((
A COMPAMIOM TO MARX'S CAP7AI
occurs whcn, chcctvcIy brokc, shc spcnds cvcr Iast pcnny onhrng a
grandouthtncIudngcoachandhorscsandappropratcjcwcIrytogotoa
baIIwhcrcshccnamorsayoungnobIcmanandcIopcswthhmthatnght,
onIytohndoutthcncxtmornngthathcsbrokctoo,atwhchpontthcy
bothsccthchumorottaIIandamcabIypartways). ShctravcIsthcworId
cvcngocstocoIonaIVrgna),spcndstmcndcbtors'prson,hcrtortunc
huctuatcs up and down. Shc crcuIatcs Ikc a monctary objcct n a sca ot
commodtycxchangcs.Mc// F/andcrs samuchbcttcranaIogytorthcway
captaIsm,partcuIarIythcspccuIatvcWaIIStrcctvarcty, rcaIIyworks.
PIanIy, thc cIasscaI poItcaI cconomsts pctcrrcd thc Robnson
Crusoc myth bccausc t naturaIzcd captaIsm. 8ut as Marx nssts,
captaIsm s ahstorcaIconstruct,not a naturaI objcct."Jccatcgorcs
otbourgcos cconomcsarcmcrcIy"tormsotthoughtwhcharcsocaIIy
vaId,andthcrctorc objcctvc,torthc rcIatons otproductonbcIongng
to this hstoricaIIy dctcrmincd modc ot sociaI production Ioo at
thshstoryndcatcs thcImtatonsotthc supposcdunvcrsaItruthsot
bourgcosthcory."LctusnowtransportourscIvcstromRobnson`ssIand,
bathcdnIght,tomcdcvaIEuropc,shroudcdndarkncss'WhIctmay
bc "shroudcd n darkncss thc socaI rcIatons arc obvous. \ndcr thc
ccrvc systcm,Maxpontsout,"cvcryscrtknowsthatwhathccxpcnds
nthcscrvccothsIordsaspcchcguanttyothsownpcrsonaIIabour
powcr,tcudaIsubjcctswcrcvcryawarcthat"thcsocaIrcIatonsbctwccn
ndvduaIsnthcpcrtormanccotthcrIabourappcarataIIcvcntsasthcr
ownpcrsonaIrcIatons,andacnotdsguscdassocaIrcIatonsbctwccn
thngs,bctwccn thc products otIabour (:6-;o). Jc samc s truc ota
patrarchaI ruaI ndusty ot a pcasant tamIy. thc socaI rcIatons arc
transparcnt,youcansccwhosdongwhatandtorwhom.
SuchhstorcaIcomparsons,aIongwththcanaIyssottctshsm,aIIow
ustosccthccontngcnt,asopposcdtothcunvcrsaI,naturcotthctruthsIad
outH bourgcos poItcaI cconomy. "Jc whoIc mystcryotcommodtcs,
aII thc magc andnccromancythatsurrounds thc products otIabour on
thcbassotcommodtyproducton,vanshcsthcrctorcassoonaswccomc
to otcr torms otproducto (:6). Wc can cvcn hnaIIy magnc socaI
rcIatons organzcd as"an assocaton ottrcc mcn' .c., a socaIst worId
n whch "thc socaI rcIatons otthc ndvduaI produccrs, both towards
thcr Iabour andthc products otthcrIabour, arc . . . transparcnt n thcr
smpIc, nproducton aswcIIasndstrbuto (:;:-z). 8ynvokngthc
dcaotassocaton,MarxcchocsmuchotFrcnchutopansocaIstthought
COMMODJTJES AND EXCHANGE
(,
nthc:osand:osProudhon,npartcuIar,thoughMarxrctranstrom
acknowIcdgngso).Hshopcsthatwcmghtadvanccbcyondthctctshsm
otcommodtcsandtryto cstabIsh,throughassocatvctorms,adhcrcnt
way otrcIatng.Whcthcr that s practcaI ornot s akcy gucston tor any
rcadcrotMarxtoconsdcr,but hcrc sonc otthc rarc momcntsnCa/ta|
whcrcwcgImpscMarx'svsonotasocaIsttuturc.
Jc tctshsm ot thc markct gcncratcs a good dcaI ot dcoIogcaI
baggagc around t. Marx commcnts, tor cxampIc,on thc wayn whch
ProtcstantsmsthcmosthttngtormotrcIgontorcaptaIsm.Hcargucs
thatourtorms otthought-notjustthosc otthc poItcaI cconomsts
rchcctthctctshotthcrtmcs,butthssagcncraItcndcncy.Hsrcmarks
onrcIgonandtsrcIatontopoItcaIcconomcItcarcsgnhcant:
PoIiticaI cconomyhas indccd anaIyscd vaIuc anditsmagnitudc,howcvcr
ncompIctcIy,andhas uncovcrcdthc contcntconccaIcdwithn thcsc torms.
8utithasncvcronccaskcdthcgucstonwhythiscontcnthasassumcdthat
particuIartorm,thatistosay,whyIabour iscxprcsscdinvaIuc,andwhythc
mcasurcmcntotIabourbyitsduratoniscxprcsscdinthcmagnitudcotthc
vaIuc otthcproduct. Tcsc tormuIas,which bcar thc unmistakabIc stamp
otbcIonging to asocia tormationinwhich thcproccssotproductionhas
mastcry ovcr man, instcad otthc oppositc,appcar to poIiticaI cconomists'
bourgcois consciousncss tobcas mucascIt-cvidcnt andnaturc-imposcd
ncccssiasproductivcIabourtscIt.(;-)
1oths,MarxaddsaIcngthyandmportanttootnotc:
cvaIuc-ormothcproductoIabouristhcmostabstract,butaIsothc
most univcrsaI tormotthcbourgcois modc otproduction,bythat tactit
stamps thc bourgcois modc otproduction as aparticuIar kind otsociaI
production otahistoricaIandtransitory charactcr. Itthcnwcmakcthc
mistakc ottrcatingt asthcctcrnaInaturaItormotsociaIproduction,wc
ncccssariIyovcrIookthcspccihcityotthcvaIuctorm,andconscucntIyot
thc commodity-torm togcthcrwith its turthcr dcvcIopmcnts,thc moncy
torm,thccapitaItorm,ctc.(;(n.()
You wII crr, hc s suggcstng, t you naturaIzc thc vaIuc-torm undcr
captaIsm, bccausc t s thcn dcuIt, tnot impossbIc,to conccvc ot
aItcrnatvcs.
(
6 A COMPANION TO MARX' S CAP7AI
Js s what thc bourgcos poItcaI cconomsts havc donc: thcy
havc trcatcd vaIuc as a tact otnaturc, not a socaI constructon arsng
out ota partcuIar modc ot producton. What Marx s ntcrcstcd n s
arcvoIutonarytranstormatonotsoccty, andthatmcansan ovcrthrow
ot thc captaIst vaIuc-torm, thc constructon ot an aItcrnatvc vaIuc-
structurc, an aItcrnatvc vaIuc-systcm that docs not havc thc spcchc
charactcrotthatachcvcdundcrcaptaIsm.!cannotovcrcmphaszcths
pont, bccausc thc vaIuc thcory n Marx s trcgucntIy ntcrprctcd as a
unvcrsaI normwth whch wc shouId compIy. ! havc Iost count otthc
numbcr ottmcs ! havc hcard pcopIc compIan that thc probIcm wth
MarxsthathcbcIcvcsthconIyvaIdnotonotvaIuc dcrvcs tromIabor
nputs. H s not that at aII, t s a hstorcaI socaIproduct.JcprobIcm,
thcrctorc,torsocaIst, communst,rcvoIutonaranarchstorwhatcvcr,
sto hnd an aItcrnatvc vaIuc-torm thatwII workntcrmsotthc socaI
rcproductionotsocictyinadicrcntimagc.yintroducingthcconccpt
ottctshsm,Marxshowshowthc naturaIzcdvaIucotcIasscaIpoItcaI
cconomy dctatcs a norm, wc torccIosc on rcvoIutonarypossbItcs t
wcbIndIytoIIowthatnormandrcpIcatccommodtytctshsm.urtask
stogucstont.
CaptaIsm has nowayotrcgstcrng ntrnsc,"naturavaIucs n ts
caIcuIus."Sncc cxchangc-vaIuc s adchntc socaI manncr otcxprcssng
thc Iabour bcstowcd on a thng, t can havc no morc naturaI contcnt
thanhas,torcxampIc,thc ratc otcxchangc, t s IIusoryto bcIcvc,tor
cxampIc,that"groundrcntsgrowoutotthcsoI,notoutotsoccty(:;6).
8ourgcospoItcaI cconomyIooksatthcsurtacc appcarancc.!nsotar
ast had aIaborthcoryotvaIuc,t ncvcr probcddccpIynto tsmcanng
orthchstorcaIcrcumstanccs otts cmcrgcncc.JsIcavcsuswththc
taskotgcttngbcyondthctctshsm,notbytrcatngt as an IIuson,but
by addrcssng ts objcctvc rcaIty (:6|-,, :;6-;) . nc rcsponsc s to
takc thc"tartradcpath.Anothcrsto dcvsc a sccnthcpath,acrtcaI
thcory: a modc otnvcstgaton and ngury that can uncovcr thc dccp
structurc otcaptaIsm and suggcst aItcrnatvc vaIuc systcms bascd on
radcaIIydhcrcntkndsotsocaIandmatcraIrcIatons.
JhctwooptonsarcnotmutuaIIycxcIusvc.ApoItcsthatdcaIswth
thc condtons otIabor on a gIobaI bass, dcvcIopng nto, say, an ant
swcatshop movcmcnt, can casIy Icad nto thc much dccpcr thcorctcaI
tcrrtory that Marx charts n Ca//a| prccscIy bccausc thc surtacc
appcarancc, whIc tctshstc, aIways ndcatcs an objcctvc rcaIty. !
COMMODITIS AND XCHANG
(/
rccaII,torcxampIc,whcnthcstudcntsatJohnsHopknsputonatashon
show, tcaturng cIothng trom Lz CIabornc and thc Gap, wth a sdc
commcntary onboth thc tcms otcIothngand thc condtons otIabor
assocatcdwththcrproducton.Jswasanchcctvcwayto taIkabout
thctctshsmandrascawarcncsswthrcspccttogIobaIcondtons,whIc
suggcstngthcmportanccotdongsomcthngaboutt.
Marx's msson n Ca/ta|, though, s to dchnc a sccncc bcyond thc
mmcdatctctshsmwthoutdcnyngtsrcaIty. HchasaIrcadyIadaIot
otthcgroundworktorthsnthccrtgucotbourgcospoItcaIcconomy.
Hchas aIsoaIrcadyrcvcaIcdthc cxtcnttowhchwcarcgovcrncdnwhat
wc do by thc abstract torccs otthc markct and howwc arc pcrpctuaIIy
at rsk ot bcng ruIcd by tctshstc constructs that bInd us to what s
actuaIIyhappcnng.1owhatdcgrcccanyousaythatthssatrccsoccty
charactcrzcdbytrucndvduaIIbcrtyJcIIusonsotaIbcraIutopan
ordcr,nMarx'svcw,havctobcdcbunkcdtorwhatthcyarc.arcpIcaton
ot that tctshsm that dspIaccs socaI rcIatons bctwccn pcopIc nto
matcraIrcIatons bctwccn pcopIc andsocaIrcIatonsbctwccnthngs.
CHAPTER 2. THE PROCESS OF EXCHANGE
Chaptcr 2 snotonIy shortcrbutcascrtotoIIow. Marx's purposc sto
dchncthcsocaIIyncccssarycondtonsotcaptaIstcommodtycxchangc
and to crcatc a hrmcr toundaton tor thc consdcraton otthc moncy
tormthatstotoIIownchaptr.
Sncc commodtcs do notthcmscIvcsgo tomarkct,wc nccd hrstto
dchnc thc opcratvc rcIatonshp bctwccn commodtcs and thosc who
takc thcm thcrc. Marx magncs a soccty n whch "thc guardans ot
commodtcs "rccognzc cach othcr as owncrs ot prvatc propcrty.
Jhs jurdcaI rcIaton, whosc torm s thc contract, whcthcr as part ot
a dcvcIopcd IcgaI systcm or not, s a mrror bctwccn two wIIs whch
mrrors thc cconomc rcIaton . . . Hcrc thc pcrsons cxst tor onc
anothcr-notc thc ccho ot thc tctshsm argumcnt-not as pcopIc,
but"as rcprcscntatvcs and hcncc owncrs,otcommodtcs'Js Icads
hmto makcabroadcrpont.Jroughout Ca/ta/, "thccharactcrs who
appcaronthc cconomcstagcarcmcrcIypcrsonhcatons otcconomc
rcIatons,' and t s"as thc bcarcrs-pIcasc notc thc rccurrcncc otths
tcrm-"ot thcsc cconomc rcIatons that thcy com nto contact wth
cach othcr (;8p). Marx s conccrncd wth thc cconomc roIcs that
(
8 A COMPAMIOM TO MARX'S CAPI7AI
peopleplay, ratherthanwiththe individualswho playthem.Sohewill
examine relations between buyers and sellers, debtors and creditors,
capitalists and laborers. Troughout Ca//a/, in fact,the focus will be
on roles rather than persons,recognizing thatindividualscan and do
ohenoccupyseveraldiderentroles,evendeeplycontradictorypositions
as when, in our time, a worker has a pension fund invested in the
stockmarket). Tisfocusonrolesratherthanindividualsisasperfectly
legitimate as ifwe were analyzing the relations between drivers and
pedestrians inthestreetsofManhattan.mostofushavetakenonboth
rolesandadaptourbehaviorsaccordingly.
The roles in a capitalist mode of production are strictly dehned.
lndividuals arejuridical subjectswhohaveprivate-propertyownership
of the commodity they wield, and they trade it under non-coercive,
contractualconditions.ereisreciprocalrespectforthejuridicalrights
ofothers,theprincipledequivalenceofmarketexchangesthatristotle
notedisanhonoredvirtue.WhatMarxdescribeshereistheconventional
political and legal framework for properly functioning markets as
envisagedinliberaltheory.lnthisworld,acommodityis"abornleveller
andcynic,'becauseit"isalwaysreadytoexchangenotonlysoul,butbody,
with eachandeveryothercommodity''The owner is willing to dispose
ofit,andthebuyerwantstotakeit."Allcommoditiesarenon-use-values
fortheirownersanduse-valuesfortheirnonowners.Consequently,they
mustallchangehands,'but"onlytheactofexchangecanprovewhether
thatlabourisusefulforothers,andits product consequentlycapableof
satis(ingtheneedsofothers":;p-o) .
This argument as to the socially necessary institutional and legal
structurerequiredforcapitalismtoworkishistoricallyspecihc.Failure
to recognize the historical specihcity ofthe bourgeois conception of
rightsanddutiesleads toseriouserrors.ltisforthis reason thatMarx
registers,in alengthyfootnote,avigorous indictmentoftheanarchist
Proudhon,
who creates his idea ofjustice, of'justice ternelle from thejuridical
relationsthat correspondto the production ofcommoditieshethereby
proves,totheconsolationofallgoodpettybourgeois,thattheproduction
of commodities is a form as eternal as justice. Ten he turns round
and seeks to reform the actual production of commodities, and the
correspondinglegalsystem,inaccordancewiththisideal.:;,n.z)
COMMODITIS AND XCHANC Q
Proudho inedecttookthe specihcs ofbourgeois legal and economic
relations and treated them as universal and foundational for the
development of an alternative, socially just economic system. From
Marx'sstandpoint,thisisnoalternativeatallsinceitmerelyre-inscribes
bourgeoisconceptionsofvalueinasupposedlynewformofsociety.Tis
problemisstillwithus,notonlybecauseofthecontemporaryanarchist
revivalofinterest inProudhon's ideas but also because ofthe rise ofa
morebroad-basedliberalhumanrightspolitics as a supposed antidote
tothesocialandpoliticalillsofcontemporarycapitalism.Marx'scritique
ofProudhonisdirectlyapplicabletothiscontemporarypolitics.TheUN
UniversalDeclarationofHumanRightsof:pisafoundationaldocument
forabourgeois,market-basedindividualismandassuchcannotprovide
ab

sisfora thoroughgoing critique ofliberal or neoliberal capitalism.

Whetheritispoliticallyusefultoinsistthatthecapitalistpoliticalorder
live up to its own foundational principles is one thing,but to imagine
thatthispoliticscanleadtoaradicaldisplacementofacapitalistmodeof
productionis,inMarx'sview,aseriouserror.
What follows is a recapitulationand Marx frequently reiterates
earlier arguments in somewhat diderent languageof the way in
which money "crystallizes out of the process of exchange" in an
institutional environment of this sort. He echoes this theme when
he describes money as "the historical broadening and deepening of
the phenomenon of exchange" that "develops the opposition between
use-value andvalue which is latent in the nature ofthe commodity".
Teneedtogiveanexternalexpressiontothisoppositionforthepurposes
of commercial intercourse produces the drive towards an independent
form ofvalue,which hnds neither rest nor peace until an independent
form has been achieved by the dierentiation of commodities into
commoditiesandmoney.tthesamerate,then,asthetransformationof
theproductsoflabourinto commoditiesisaccomplished,oneparticular
commodityistransformedintomoney.(8)
Tereisnothingherethatwehave notalreadyseenin earliersections,
butnowMarxexpoundsonwhatthiseconomicrelationbetweenthings
impliesforrelationsbetweenpeople.Tiseconomyofmarketexchange,
hesays,impliesthatwearedealingwith"theprivateowners"of"alienable
things,'andthisinturnimpliesthatwehave"personswhoareindependent
o A COMPANION TO MARX' S CAPI7AI
of cachothcr.``Alcnablc` `rcfcrstothcfactthat"thngsarcnthcmsclvcs
cxtcrnaltoman, ".c.,frcclycxchangcablc.Jsmcansthatthccxchangcrs
arcfrccofanypcrsonalattachmcntorothcrbondtothcthingsthcyown.
Halsomplcssocalrclatonshps"ofrccprocalsolaonandforcncss"
thatarcunguctocaptalsmandaconcomtantofurdcalowncrshpof
commodtcs :z) .
Such condtons dd not prcvalnthc"patrarchalfamly,ananccnt
IndancommuncoranIncaStatc",cxchangcproccsscshadtobrcakdown
thcscprcccdngsocalstructurcs.Jshappcnsgradually,hcsuggcsts,as
occasonal tradc bctwccn communtcs cvolvcsto thc pontwhcrc"thc
constantrcpcttonofcxchangcmakcstanormsocalproccss":z).
ln thc samc proportion as cxchangc bursts its IocaI bonds notc thc
impIication ot gcographicaI cxpansion] , and thc vaIuc ot commoditics
accordingIy cxpands morc and morc into thc matcriaI cmbodimcnts ot
humanlabourassuc

,inthatproporton docs thcmoncy-formbccomc

transfcrrcd to commodtcs which arc by aturc ttcd to pcrform thc
social function of a unvcrsal cguivalcnt. csc commodtcs arc thc
prcciousmctals.)
Jhs s, as I havc alrcady pontcd out, a somcwhat dubous hstorcal
argumcntaboutthc

ssolutonof prccxstngsocalformsnthcfaccof
ncrcasingcxchangcrclatonsandthcrscofmoncy-forms.Buttslogcal
contcnt s mportant for dcmonstratng that what s socally ncccssary
s "an adcguatc form of appcarancc f valuc` and that rcgurcmcnt s
bcst satshcd byprccousmctals suchasgoldand slvcr by vrtuc ofthcr
naturalgualtcs.But,ashccarlcrpontcdout,thsmcansthatthcmoncy
commodtyntcrnalzcsadualty,bccausct sbotha commodty n thc
ordnaryscnscof bcngaproductof laborand talso"acurcsaformal
usc-valuc,arsngoutoftsspcchcsocalncton.`Inthsformalsocal
functon,"thcmoncy-formsmcrclythcrccctonthrownuponasinglc
commodtybythcrclatonsbctwccnallothcrcommodtcs":).
urthcrmorc,nts rolctspcrfcctlypossblctorcplaccthcmoncy
commodty"bymcrcsymbolsoftscl`Jhs capacty for rcplaccmcnts
notsurprsng, howvcr, gvcn that"cvcrycommodtys a symbol,sncc,
asvaluc,tsonythcmatcralshcllofthchumanlabourcxpcndcdont"
:,-6).Marxhcrcpcnsupthcpossbltytoncorporatcmanyaspcctsof
whatsnowohcnrfcrrcdtoas"thcsymbolccconomy"drcctlyntohs
COMMODITIS AND XCHANC j1
analysis.Hedoesnotattempttodoso,anditwouldundoubtedlyrequire
modihcations to the mode ofpresentation,but I think it important to
notethatthe symbolicaspectsofhowcapitalismworksarenotexternal
tohisargument.Thosewhoarguethatcapitalismisdiderentnowbecause
ofthedegreetowhichsymboliccapitalandthesymboliceconomyhave
cometothefore,andthatcapitalismhas consequentlychangeditsspots,
shouldmarkwellthatthisisnotnecessarilyso.
The danger lies in treating these symbolic qualities,which arevery
important, as purely imaginary or as"the arbitrary product ofhuman
reection'' What Marx is driving at here is that even the money
commodity cannot realizeits specihcvaluewithoutexchangingwithall
other commodities as equivalents, even as it postures as the universal
equivalentforallothercommodities."Thedimculty,'hesays,"liesnotin
comprehendingthatmoneyisacommodity,butindiscoveringhow,why
andbywhatmeansacommoditybecomesmoney"(:6).
What a]]ears to happen is not that a particular commodity becomes
moneybecause all other commodities universally express their values
init,but,onthe contrary,thatallothercommoditiesuniversallyepress
theirvaluesinaparticularcommoditybecauseitismoney.(8;,emphasis
added)
In other words, once moneyexists,then commodities hnd a means of
measuringtheirvalueeasilytohandasifthegolddrawn"fromthebowels
oftheearth"is"thedirectincarnationofhumanlabour''This,hedeclares,
is"the magic ofmoney"thatneedstobeunpacked."Te riddle ofthe
moncy tctish is thcrctorc thc riddIc ot thc commodity tctish, now bccomc
visibleanddazzlingto oureyes"8;).
Butthereisoneothervitalpointtothischapter.Withthe"magic"and
"fetish"ofmoneyhrmlyinplace,
men are henceforth related to each other in their social process of
productionin apurelyatomisticway.Teirownrelationsofproduction
thereforeassumeamaterialshapewhichisindependentoftheircontrol
andtheirconsciousindividualaction.(8;)
This sounds suspiciouslylikeatacitinvocation ofAdam Smits vision
ofaperfectlyfunctioningmarketwhosehiddenhandguides individual
j2 A COMPAMIOM TO MARX'S CAPI7AI
decisions. No individual is incommandandeveryone hasto mnction
accordingtowhatMarxlatercalls"thecoercivelawsofcompetition") .
In Smits ideal world, the state would create the institutional
frameworkforperfectlyfunctioningmarkets andprivatepropertyand
thenwatchthewealthofthestateandthewelfareofthecitizenryrapidly
improve as individual initiative and entrepreneurialism coordinated
through the hidden hand of the market would produce a result that
wasbenehcialto all.Insuchaworld,Smiththought,theintentionsand
motivationsofindividualsvaryingfromgreedtosocialmission)didnot
matter,becausethehiddenhandofthemarketwoulddothework.
Tis chapterposes a conundrum. Onthe one hand, Marx devotes a
footnotetocondemningProudhonsacceptanceofbourgeoisnotionsof
rightsandlegalityasprovidingabsolutelynoleverageintheconstruction
ofarevolutionaryalternative.Yet inthemaintextofthechapter,Marx
has seemingly accepte the liberal theory of property ownership, the
reciprocityand equivalence of noncoercive market exchange between
juridicalindividualsandeventhehiddenhandofthemarketasproposed
byAdamSmith.Howarewetoreconcilethisseemingcontradiction l
thinktheanswerissimpleenough,buttheanswerdoeshaveimportant
ramihcationsforhowwereadtherestofCa//a/.
Marx is engaged in a critique ofclassical liberal political economy.
He therefore hnds it necessary to accept the theses of liberalism and,
by extension to our own times, neoliberalism) in order to show that
the classical political economists were profoundlywrong even in their
ownterms. Soratherthansayingthatperfectlyfunctioningmarketsand
the hidden hand can never be constructed andthatthe marketplace is
always distortedbypoliticalpower,heacceptstheliberalutopianvision
ofperfectmarketsandthehiddenhandinordertoshowthatthesewould
notproducearesultbenehcialtoall,butwouldinsteadmakethecapitalist
class incrediblywealthywhilerelativelyimpoverishingtheworkersand
everyoneelse.
Thistranslatesintoahypothesisaboutactuallyexistingcapitalism.that
themoreitisstructuredandorganizedaccordingtothisutopianliberal
orneoliberalvision,thegreatertheclassinequalities.Andthereis,itgoes
without saying,plentyofevidenceto supporttheviewthatthe rhetoric
offreemarkets andfreetrade andtheir supposeduniversalbenehts to
which we have been subjected these past thirtyyears have produced
exactly the resultthat Marxwould expect. a massive concentrationof
COMMODITIES AND EXCHANCE
wealthandpoweratoneendof thesocialscaleoppositetheproliferating
impoverismentofeveryoneelse.Butinordertoprovethatpoint,Marx
hastoaccepttheinstitutionalfoundationsofliberalutopianism,andthat
ispreciselywhathedoesinthischapter.
This raises an important caveat into howwe have to read Ca/ta|. We
have to be careful to distinguish between when Marx is talking about
andcritiquingtheliberalutopianvisioninitsperfectedstate,andwen
he is attempting to dissect actually existing capitalism with all of its
market imperfections,power imbalances and institutional daws.Aswe
willsee,thesetwomissionssometimesconfoundeachother.Someofthe
muddles ofinterpretationcomefromthisconfounding.So lwilltryin
what follows to indicate when he is doingwhat and to pinpoint those
momentsofconfusionthatoccasionallyarise,includingthoseinMarx's
ownanalysis,whenhis desire toaccomplishone objectivethecritique
ofclassical political economygets in thewayofthe additionaltaskof
understandingtheactualdynamicsofacapitalistmodeofproduction.
Forthe mostpart,though,Marxhas an ingeniouswayofusingthe
theoreticalcritiqueofliberalutopianisminitsvariouspolitical-economic
guisestosheddevastatingcriticallightontheactuallyexistingcapitalism
ofhisownday.Andthisisfortunateor us,livingin aworldwherethe
theses of neoliberalism echo and, in some respects, deepen those of
liberalism, because Marx's critique offree markets and free trade can
shedasmuchdevastatinglightonourownactuallyexistingcapitalismas
itdidforthecapitalismofMarx'sowntimeandplace.
CHAPTER TWO
NOnCy
CHAPTER _. MONEY, OR THE CIRCULATION OF COMMODITIES
Bynowit'sclearthataparticularnotionof moneyhasbeencrystallizingout
ofMarx'saccountofcommodityexchange.Rwasimplicitintheopposition
between me relative and equivalent forms ofvalue and this, with the
proliferationofexchangeintoageneralsocialact,ledontotheemergence
ofauniversalequivalentthattooktheformofatangiblemoneycommodi
that representedvlueeven asit disguised the origins ofvalue in socialy
necessarylabor-time.Wenowinspectmismoney-formmoreclosely.
Chapter is longand quiteintricate.lttellsasimplestory,though,in
whatby nowshou

d be afamiliarfashion.Moneyis a unitaryconcept,
but it internalizes ual functions that miror the dualiof use- and
exchange-valuewithinthecommdity.Ontheonehand,moneyoperates
as a measure ovalue,as agoldenrepresentative,asitwere, ofsocially
necessaylabor-time.lnthisroleitmustpossessdistinctivequalitiessoas
toprovide,asfaraspssible,an accurat and emcient standard measure
ofvalue.Ontheotherhand,moneyalsohastolubricatetheproliferation
ofexchange anddo sowiththe minimumoffussanddimculty. lnthis
wayitfunctionsasamereediumandmeansformovinganincreasingly
vastarrayofcommoditiesaround.
ere is a tension, a con

radiction,eween tesetwounctions.s
a measure ofvalue,forexample,gold looksverygood.R is permanent
andcanbestoredforever,onecaassayitsqualities,onecanknowand
controlitsconcreteconditi

nsofproductionandcirculation.Sogoldis
greatasameasureofvalue.Butimagineifeverytimeyouwentforcodee,
youhdto use a grain ofgoldto purchase it.Tis is averyinemcient
form ofmoneyfromthe standpoint ofthe circulation ofmyriadsmall
quantities of commodities. Imagine everyonewith a little pouch with
grains ofgold in itwhat ifsomebodysneezedwhile countingout the
grains Gold isaninemcientmeansofcirculation,evenasitisexcellent
asameasureofvalue.
So Marx contrasts money as a measure of value (section :) and
6 A COMPANlON TO MARX'S CAP7AI
money as a means or medium ofcirculation section z).At the end of
the day, though,there isonlyonekind ofmoney section ). And the
resolutionofthattensionbetweenmoneyasanedectivemeasureofvalue
and money asan emcient means ofcirculationispartiallygivenbythe
possibility,orandthis iscontroversialthe ncccssl/), ofanother form
ofcirculation,which isthe existence ofcredit moneys.The consequent
relationbetweendebtorsandcreditors opensupnotonlythepossibility
but also thenecessityfor another formofcirculation,thatofcapital ln
otherwords,whatemergesinthischapteristhepossibilityfortheconcept,
aswellasthefact,ofcapitallnthesamewaythatthepossibilityofmoney
crystallized out of processes ofexchange, so the possibility ofcapital
crystallizesout ofthe contradictionbetween moneyas the measure of
alueandmoneyasthemeansofcirculation.Thisisthebigstoryinthis
long chapter. lfyoukeep it steadily in mind, a lot ofthe intricate and
sometimesconfusingdetailsfallmoreeasilyintoplace.
Scc/lcn :1c Mcasurc c] \a|ucs
Tere is a distinction between"money" and"the money commodity''
To consolidate his earlier argumentnamely, that value is not in itself
materially measurable but needs, rather, a representation to regulate
exchangesMarx begins by assuming gold to be the singular money
commodity.Tisis"thenecessaryformofappearanceofthemeasureof
valuewhichisimmanentincommodities,namelylabour-time":). Value
gets expressed or perhaps we should say"resides") in the relationship
betweenthe money commodityas"a formofappearance" ofvalue and
all the commodities thatexchangewithit.Thevalue ofcommodities is
unrecognizableandunknowablewithoutitsformofappearance.
Tis poses, however, some complicationsand reveals some
contradictionsthatrequire close scrutiny. Marx focuses hrst on how
pricesgetattachedtocommodities.Pricesare,hesays,imaginary,orideal
meaningaproductofthoughtorlogicalprinciple,asopposedto"real"or
empiricallyderivedconclusions) :p-po).He's referringtothefactthat
whenlmakeacommodity,lhavenoideawhatitsvalueisbeforeltake
ittomarket. lgotothemarketwith some imaginary, ideal notionofits
value.Solhangapricetagonit.Thistellsthepotentialpurchaserwhatl
thinkthevalueofmycommodityshouldbe. lhavenoideawhetherl'll
getthatpriceforit,though,because lcanhavenopriorideaofwhatits
valueis"onthemarket".
MONY j
In its function as measure ofvalue, money therefore serves only in an
imaginary or ideal capacity. This circumstance has given rise to the
wildesttheories.But,althoughthemoneythatperformsthefunctionsof
ameasure ofvalueisonlyimaginary,the price depends entirely on the
actualsubstancethatismoney.:po)
A relationship arises between the imaginary, ideal prices and the
prices actually received in the marketplace. Te received price should,
"ideally,'indicatetruevalue,butitisonlygoingtobethe appearance,a
representationandanimperfectone,atthatofvalue.
Wewouldobviouslypreferthequantitativerepresentationofvaluetobe
astablestandardofmeasurement.Goldisaspecihccommodity,though,its
valueisgivenbythesociallynecessarylabor-timeembodiedinit,andthis
is not,aswehaveseen, constant.Fluctuationsinthe concreteconditions
ofproductionadectthevalueofgold oranyother moneycommodity).
Since,however,suchchangesadect"allcommoditiessimultaneously,'then
"otherthingsbeingequal. . . /hc mu/ua/ rc/a//cns betweentheirvaluesare
unaltered,althoughthosevaluesarenowallexpressedinhigherorlower
gold-pricesthanbefore":p:-,emphasisadded).
Marx also introduces silver as a potential alternative money
commodityinordertomake asimplepoint.althoughgoldseemstobe
a solid standard ofvalueforcomparingthe relativevaluesofall other
commodities, it is insecure when it comes to establishing the absolute
value :pz-).If,asinthegoldrushof:, aninuxofgoldfloodsthe
market,thensuddenlythevalueofgoldtherepresentativemeasure of
socially necessarylabor-timedeclines, and all the commodity prices
havc to adjust ugward (hcncc thc rand naton n thc sxtccnth ccntury
whentheSpaniardsbroughtingoldfromIatinAmerica). Wearealways
dealingwiththemoneycommodityassomethingthathasaconcreteuse
value,andtheconditions ofitsownproductionhave animpactonthe
wayvalueisrepresented.Inrecentyears,goldpriceshavebeenyo-yoing
allovertheplaceforreasonswewillcometoshortly) .WhatMarxwants
toemphasizehereisthateventhoughanymoneycommoditymaesfor
a shihingmeasure ofvalue, its inconstancymakes no diderence to the
rc/a//vc values ofthe commodities beingexchangedin themarketplace
:pz-,seealso:6).
Marxgoesontoobservethat,"asmeasureofvalue,andasstandardof
price,moneyperformstwoquitediderentfunctions''Here,asub-duality
8 A COMPANlON TO MARX
'
S CAPI7AL
withinthetheoryofmoneyemerges,nottobeconfusedwiththegrand
distinction between moneyas a measure ofvalue and as a medium of
circulation.Themoneycommodity"isthemeasureofvalueasthesocial
incarnationofhumanlabour"~thisisthe"ideal"representation~butit
isalso"thestandardofpriceasaquantityofmetalwithahxedweight''
H isthe latteraspectthat allows usto saythat this commodityis really
"wort somanyouncesofgold.hisquantity,theweightofgold,iswhat
we have in mind before, and hopefully in hand aher, the exchange of
thecommodity."Forvariousreasons,'though~and theseturnouttobe
historicalreasons~"themoney-namesofthemetalweightsaregradually
separatedfromtheiroriginalweight-names":z-).
Now,thereisnoexplicittheoryofthestateinCa//a/, butifyoutrace
itsmanyappearancesthroughoutthetext,itbecomesclearthatthestate
performsessentialfunctionswithinacapitalistsystemofproductionwe
haveareadytacityinvoedthisin imagining theinstitutionsofprivate
property and a properly functioning market in chapter z). One ofthe
state'smostimportantfunctions,aswewillsee,hastodowithorganizing
the monetary system, regulating the money-names and keeping the
monetarysystemedectiveandstable.
Thesehistoricalprocesseshave madetheseparationofthemoney-name
fromtheweight-nameintoahxedpopularcustom.Sincethestandardof
moneyisonthe onehandpurelyconventio

al,whileontheotherhand
itmustpossessuniversalvalidity,itisintheendregulatedbylaw.:|)
Temoney-nameis,however,afetishconstruct."Thenameofathingis
entirelyexternaltoitsnature.lknownothingofamaniflmerelyknow
his name is Jacob. ln the same way, every trace ofthe money-relation
disappears in the money-names pound, thaler, franc, ducat, etc'' That
is, the relationship to sociallynecessarylabor-time isfurther disguised
bythese money-names."Price,'Marxconcludes,"isthemoney-nameof
thelabourobjectihedinacommodity":,). Themoney-namepounds,
ducats) isnotthesameasthemoneycommoditygold),anditsrelation
tovalueassociallynecessarylabor-timebecomesevermoreopaque,but
the dehnition ofprice as the money-name ofthe labor embodied in a
commodityisimportanttoremember.
Marx goes on to make two more important observations. The
possibilityexists,hewrites,"ofaquantitativeincongruitybetweenprice
MONEY
and magnitude ofvalue, i.e. the possibility that the price may diverge
fromthe magnitude ofvalue'andthispossibilitybelongs inherentlyto
theprice-formitself."Tis isnotadefect,but,onthecontrary,itmakes
this form the adequate one for a mode ofproduction whose laws can
only assert themselves as blindly operating averages between constant
irregularities

(:p6).Whatheissayinghereisthis.ifltakemycommodity
to market andhang aprice (a money-nameorproposedrepresentation
ofvalue)onit,youbringasimilarcommoditytomarketandhangyour
priceonit,somebodybringsanotherandhangsadiderentpriceonit,we
will have amarketplace mll ofdiderentpricesforthe samecommodity.
Teaverageprice that will actuallybe achieved on aparticulardaywill
dependonhowmanypeoplewantthecommodityandhowmanypeople
cometomarketwantingtosellit.So,theaveragerealizedpricewilljump
arounddependingonfluctuationsinsupplyanddemandconditions.
R isthroughthismechanismthatan equilibrium priceemerges.Tis
equilibrium price, or what the classical political economists called the
"naturaprice,isthepriceachievedwhensupplyanddemandhavecome
into equilibrium.At this equilibrium point, Marxwill later claim,supply
anddemandceasetoexplainanything.Supplyanddemanddonotexplain
whyashirt,onaverage,costslessthanapairofshoesandwhattheaverage
diderential price isbetween shirts and shoes. R is Marx's view that this
average diderential price is reective ofvalue, ofthe socially necessary
labor-timecongealedinthediderentcommodities.Onagivenday,though,
pricefluctuationswtellyouthestateofdemandandsupplyforshoeson
thatdayandwhyithasgoneupordownfromyesterday. Sothefactthat
we putmoney-namesoncommoditiesandconvertthe measure ofvalue
IB!0 !hIS Iu0d 0Im, !h0 QIIC0-0Im, d0WS QIIC0 HuC!ud!I0BS !0 0quIIDId!0
themarket,andthisbringsusclosertoidenti(ingaproperrepresentation
ofvalue asequilibrium ornaturalprice.What the fluctuationsin prices
achieveisaconvcrgcncc on thc avcragc soc/a/ /aaor ncccssar) to roducc a
commod/t). Withoutthisquantitativeincongruitytherewouldbenoway
ofsmoothing out demand and supplyvariations in the marketplace and
convergingonthesocialaveragepricethatrepresentsvalue.
Tesecondobservationisevenmoredimculttoabsorb.
Te price-form . . . is not only compatible with the possibility of a
quantitative incongruity between magnitude of value and price, i.e.
between themagnitude ofvalue andits ownexpression in money,but
6o A COMPANlON TO MARX
'
S CAPI7AI
itmayalsoharbouraqualitativecontradiction,withtheresultthatprice
ceasesaltogethertoexpressvalue,despitethefactthatmoneyisnothing
butthevalue-form ofcommodities.Tingswhichin andforthemselves
arenotcommodities,suchas conscience,honour,etc.,canbeoeredfor
salebytheirholders and thusacquiretheform ofcommoditiesthrough
their price. Hence athing can, formally speaking,have aprice without
having a value. The expression of price is in this case imaginary, like
certain quantities in mathematics. n the other hand, the imaginary
price-formmayalsoconcealarealvalue-relationoronederivedfromit,as
forinstancethepriceofuncultivatedland,whichiswithoutvaluebecause
nohumanlabourisobjectihedinit.(p;)
Onceyoucanhangapricetagonsomething,youcaninprincipleputaprice
tagonanything,includingconscienceandhonor,tosaynothingofbody
partsandchildren.Youcanhangitonanaturalresource,ontheviewofa
waterfallyoucancertainlyputapricetagonlandandspeculateonshis
in landprices.Te pricesystemcanoperatein these otherdimensions
toproducequalitative aswellasquantitative incongruities.Whichthen
raises the question. ifprices can be put on anything independently of
theirvalue,andiftheycaninanycasequantitativelyuctuatealloverthe
place independentlyofvalue,thenwhyisMarxsohxatedonthe labor
theoryofvalue Arent the conventional political economistseven to
thisdaycorrecttosaythatallwecanobserveandallthatcanhavereal
meaningiscontainedintheconceptofprice,andthatthelabortheoryof
valueisthereforeirrelevant
Marxdoes notdefendhis choice here, hedidn'tparticularlyhave to,
giventhatthelabortheoryofvaluewaswidelyacceptedbyhisRicardian
contemporaries. But today, with the labor theorywidelyquestioned or
abandoned,evenbysomeMarxisteconomists,itbehoovesustoconstruct
somesortofresponse.Marxwould,lthink,appealtotheconceptofthe
materialbase.ifeverybodytriedtoliveodthespectacleofwaterfallsor
through trading in conscience and honor, no one would survive. Real
production, the real transformation ofnature through labor processes,
is crucial to our existence, and it isthismaterial laborthatforms the
basis for the production and reproduction ofallhumanlife.We can't
dress in conscience and honor (remember the fable of the emperor's
newclothes),wecan'tdressinthespectacleofawaterfall,clothesdonot
come to us that way, they come to us through human labor processes
andcommodityexchange.EveninacityleWashington,D.C.,wherea
MONY 1
vastamountoftradingi nconscienceandhonorseemstooccur,thereis
alwaysthequestionofwhereeverybody'sbreakfastcomesfrom,aswellas
the electronics,thepaper,theautomobiles,thehouses andthehighways
that sustain dailylife. To pretend this all arrives magicallythroughthe
market,facilitatedbythemagicofthemoneythathappenstobein our
pocket,istosuccumbtotallytothefetishismofthecommodity.Weneed
the concept ofvalue as sociallynecessarylaor-time in ordertobreak
throughthefetishism.
WhetherornotyoubelievethatMarxwasrighttotakeapositionsuch
asthisisuptoyoutodecide.TounderstandCa/ta| onMarx'sownterms,
though,youhavetobepreparedtoacceptanargumentsomewhatalong
theselines,atleastuntilyougettotheendofthebook.Risalsoimportant
torecognizethatMarxis,nevertheless,concedingsomethingherethatis
terriblyimportant.Tatis,thepricesystemisindeedasurfaceappearance
thathasitsownobjectiverealityitreallyis"as itappears") aswellasa
vitalfunctiontheregulationofdemandandsupplyfluctuationssothat
theyconvergeonanequilibriumpriceandthissystemcaneasilygetout
ofcontrolonitsownterms.Aswewilllaterseeeveninthischapter,the
quantitativeandqualitative incongruitieshave serious consequencesfor
howmarket systems andmoney-formswork.Teycan evenyield not
onlythepossibility,but alsothe /ncv/taa/|/t), ofhnancialandmonetary
crises| )
But Marx's presumptionand i fyou are to understand him, you
must bear with him on this pointis that value as socially necessary
labor-time lies at the center ofthings. lf we assume that values are
hxed though perpetual shihs in technology and social and natural
relations constantlyremindusthat in factit'squite the contrary) then
we'll see prices uctuating over time around"natural" prices, the state
ofequilibrium between demand and supply. Tis equilibrium price is
merelyanappearance,arepresentationofsociallynecessarylabor-time
thatgenerates the value crystallized in money.And th/s value is what
the market prices are actally fluctuating around :p6). Market prices
perpetuallyandnecessarilydeviatefromvalues,iftheydidn't,therewould
benowayofequilibratingthemarket.Asforthequalitativeincongruities,
someofthem such as speculation inlandvalues andlandrents) have
animportantmaterialrole toplay nottobe taken upuntilVolumelll)
in processes ofurbanization andtheproduction ofspace. Butthis is
somethingthatcannotbeconsideredhere.
6z A COMPANlON TO MARX'S CAPI7AI
Scc/lon 2. 1c Mcans o{Clrcu/a/lon
R is useful to study Marx's introductory paragraphs caremlly since they
ohen signal ageneral argumentortheme that needs tobe borne inmind.
Hereheremindsusthat"wesawinaformerchapterthattheexchangeof
commodities implies contradictory and mutually exclusive conditions"
(:p).What is he referring to Iook back at the section on relative and
equivalent forms ofvalue. Tere, he identihed three peculiarities ofthe
moneycommodity. First,that"use-valuebecomes theform ofappearance
of its opposite, valu , second, that "concrete labour becomes the form
ofmanifestation ofits opposite, abstract human labour", and third,that
"privatelabourtakestheformofitsopposite,namelylabourinitsdirectly
sociaI torm (:, :,o, :,:).
GoId is a particuIar commodity produccd and appropriabIc by privatc
persons,with aparticular use-value,andyet all those particularities are
somehowburiedwithintheuniversalequivalentofthemoneycommodity.
"Te further development of the commodty does not abolish these
contradictions,' Marx observes, "but rather provides the form within
whichtheyhaveroomtomove''Terearesomecluesherepayparticular
attentionto that phrase,"the formwithinwhich contradictions have
room to move"as to the nature ofMarx's dialectical method. Tere
is,hesays,ageneral"wayinwhichrealcontradictionsareresolved.For
instance,it is a contradiction to depict one body as constantly falling
towardsanotherandatthesametimeconstantlyflyingawayfromit.Te
ellipseisaformofmotionwithinwhichthiscontradictionisao/h rca/lzcd
and rcso/vcd" (:p,emphasisadded) .
Earlier,Idescribedthedialecticasaformofexpansionarylogic.Some
people like to think about the dialectic as being strictly about thesis,
antithesisandsynthesis,butwhatMarxissayinghereisthatthereisno
synthesis.Tereisonlytheinternalizationofandgreateraccommodation
ofthecontradiction.Contradictionsareneverhnallyresolved,theycan
onlybereplicated eitherwithin a perpetual system ofmovement like
the ellipse) or on a grander scale. Yet there are apparent moments of
resolution,aswhenthemoney-formcrystallizesoutofexchangetoresolve
theproblem ofhowtocirculateallthose commoditiesemciently. Sowe
mightbreatheasighofreliefandsay, thankGod,wehavemoney,that's
a nice synthesis,we dont have tothink anymore.No,no,says Marx,we
MO~EY 6
nowhavetoanalyzethecontradictionsthatmoney-formsinternalize
contradictionsthatbecomeproblematiconamuchgranderscale.Tere
is,asitwere,aperpetualexpansionofthecontradictions.
For this reason l get impatient with people who depict Marx's
dialecticasaclosed method ofanalysis.ltisnot hnite, onthe contrary,
it is constantlyexpanding,and here he is explainingpreciselyhow.We
olyhaveto reviewwhatwehavealreadyexperiencedin readingCa//a|,
themovementofitsargumentis aperpetualreshaping,rephrasingand
expansion ofthe held ofcontradictions. This explains whythere is so
muchrepetition.EachstepforwardrequiresMarxtoreturntoanearlier
contradiction in order to explain where the next one is coming from.
Reflectingonintroductorypassageslikethisonehelpsto clari(Marx's
meaning,itgivesusabetterideaofwhatheistryingtodoineachsection
ashisargumentunfolds.
We see this process at work in the second section of the chapter on
money, where Marx examines what he calls the "social metabolis
and "metamorphosis ofcommodities"through exchange.Exchange,as
we have seen,"produces a diderentiation ofthe commodity into two
elements,commodity and money''When we putthese into motion,we
seethatcommoditiesandmoneymoveinoppositedirectionswitheach
changeofhands.Whilethemovementofone theexchange ofmoney)
is supposed to facilitate the other the movement of commodities),
thereisanoppositionalflow,whichcreatesthepossibilityfortheriseof
"antagonistic forms" :p-p) .Thissetsthestage for theanalysis ofthe
metamorphosisocommodities.
Exchangeisatransactioninwhichvalueundergoesachangeofform.
Marxlabelsthischainofmovementscommodityintomoney, money
intocommodity~the"C-M-C"relation.Tisisdiderentfromthe"C-C"
orcommodity-to-commoditymovementofbartering,allexchanges are
nowmediatedthroughmoney. )Thisprocessisatwofoldmetamorphosis
ofvaluefromCintoMandof MintoC:ppzoo) .
Rwouldseemonthesurfacethatthesearemirrorimagesandtherefore
inprincipleequivalent,butinfacttheyareasymmetricalTheC-Mside
ofthe exchange, the sale, involves the change in form of a particular
commodity into the universal equivalent, the money commodity. R is
a movement from the particular to theuniversalln orderto sellyour
particularcommodity,youmusthndsomebodyinthemarketwhowants
6
(
A COMPANION TO MARX' S CAP7AI
it.Whathappensifyougettomarketandnobodywantsyourcommodity
Tis provokes a whole series of questions about how needand the
production of needs through,for example, advertisinginuences the
exchangeprocess.
Perhapsthecommodityistheproductofanewkindoflabour,andclaims
to satisanewlyarisenneed,oriseventryingtobringforthanewneed
onitsownaccount. . . Todaytheproductsatishesasocialneed.Tomorrow
itmayperhapsbeexpelledpartlyorcompletelyfromitsplacebyasimilar
product.(zc)
SothetransformationfromCintoMiscomplicatedHlargepartbysupply
anddemandconditionsthatexistinemarketataparticulartime.
Vc scc thcn that connoditics arc in Iovc with noncy, but that the
courseoftruelove neverdidrunsmoot'. The quantitative articulation
. . . ofsociety'sproductiveorganism,bywhichits scatteredelementsare
integratedinto the system ofthe division oflabour,is ashaphazardand
spontaneousasitsualitativearticulation.(zcz)
Tatis,thehiddenhandofthemarketthechaosofmarketexchange,
thechronicuncertaintyofitallplacesakindsofbarriersinthewayof
adirectconversionofthecommodityintotheuniversalequivalent.
C-M-C is a single processan exchangethat can beviewed from
eitherofitstwo"poles"(zo). TeM-Csideofexchange,thepurchase,is
atransitionfrommoneytocommodity,it entailsamovementfromthe
universaltotheparticular.This is not,however,simplyC-Minreverse.
Changingmoneyintoacommodityisinprinciplemucheasier.youenter
the market withyour moneyand buy anything you want.To be sure,
potentialbuyersmayonoccasionbefrustratedbynothndingwhatthey
desire,butinthatcase,thankstotheuniversalequivalenceofthemoney
commodity,theycanalwaysbuysomethingelse.
Soin the process ofexchange,valuein edectmovesfrom one state
(that ofthe commodity) into another (that ofmoney) andback again.
Viewedasawhole,thisprocess
appearsinthehrstplacetobemadeupof twooppositeandcomplementary
movements,C-MandM -Thesetwo antitheticaltransmutationsofthe
commodity are accomplished through two antithetical social processes
MONEY
in which the commodity-owner takes part, and are reected in the
antithetical economic charateristics of the two processes . . . While
the same commodity is suc

essively passing through the o inverted

transmutations . . . theownerofthecommoditysuccessivelychangeshis
rolefromsellertobuyer.(zo6)
Marx'semphasisonantithesissignalsapotentialcontradiction,butnotone
betweenbuyersandsellersbecausetheseare"nothxedroles,butconstantly
attach themselves to diderent persons in the course of me circulation
of commodities' The contradiction has to lie in the metamorphosis of
commoditiestakenasawhole,i.e.,withinthecirculationofcommodities
in general, since"the commodityitselfis here subject to contradictory
determinations,'beingatonceanon-use-valuefromthestandpointofits
ownerand,asapurchase,ause-valuetothebuyer(zo6-;).
Tis processthe circulation of commoditiesis increasingly
mediated by money. Again, notice how important the proliferation of
exchangerelationsistoMarx'sargument.
We seehere,ontheonehand,howtheexchange ofcommoditiesbreaks
throughalltheindividualandlocallimitationsofthe directexchangeof
products,anddevelopsthe metabolic process ofhumanlabour.On the
other hand, there develops a whole network of social connections of
naturalorigin,entirelybeyondthecontrolofthehumanagents.(zo))
So where in the process of the circulation of commodities is the
contradictionWhereasapurchasedcommodity,beingause-valuetoits
consumer, might"fall out ofcirculation,'the money does not drop out
anddisappear.H keeps on moving suchthat"circulation sweats money
fromeverypore"zo) .Withthis,Marxlaunchesadehnitiveandviolent
attackuponsomethingcalledSay'slaw,whichwasapowerfulideawithin
classicalpoliticaleconomyandcontinuestothisdaytobeastrongtenet
ofbeliefamongmonetarist economists.' TheFrencheconomistJ.B.Say
heldthattherecanbenosuchthingasageneral crisisofoverproduction
withincapitalism,because everysaleisapurchaseandeverypurchseis
a sale. Bythislogic,there isalways some sortofaggregateequilibrium
between purchases and sales in the market while there may be an
i. SccmcsophsucatcddctcnscotmcIawSu]s Lw. An H|oncu/ Au(: (Prnccton,
N.PrncctonnvctyPrcss,i)) mcconscrvauvccconomstomasSowcII.
A COMPANlON TO MARX' S CAP7AI
overproductionofshoesrelativetoshirts,ororangesrelativetoapples,a
generalizedoverproductioninsocietyisimpossiblebecauseoftheoverall
equivalenceofpurchasesandsales.
Marxobjectsasfollows.
Nothingcouldbemorefoolishthanthedogmathatbecauseeverysale
isapurchase,andeverypurchaseasale,thecirculationofcommodities
necessarily implies an equilibrium between sales and purchases.
Ifthismeans that thenumber ofactual sales accomplished is equal
to thenumber ofpurchases,it is aattautology. . . No one can sell
unlesssomeoneelsepurchases.Butnoonedirectlyneedstopurchase
just because he has sold . . . To say that thesemutuallyindependent
and antithetical processes e., C-M and M-C] form an internal
unity is to say also that their internal unitymoves forward through
eternal antitheses. These two processes lack internal independence
becausethecomlementeachother enceithe assertion otheir
external independence . . . proceeds to a certain critical point, their
unity violently makes itself felt by producing~a crisis. There is an
antithesis,immanentinthecommodity,betweenusevalueandvalue,
between private labourwhich must simultaneouslymanifest itselfas
directlysociallabour,andaparticularconcretekind oflabourwhich
simultaneouslycountsasmerelyabstractuniversallabour,betweenthe
conversion ofthings into personsandthe conversion ofpersonsinto
things,theantitheticalphasesofthemetamorphosisofthecommodity
are the developed forms of motion of this immanent contradiction.
Theseformsthereforeimplythepossibilityofcrises,thoughnomore
thanthepossibility.(zo-))
Forthefulldevelopmentofthispossibilityofcrises,lamsorrytosay,you
aregoingtohavetoreadVolumesllandlll,alongwiththethreevolumes
of1ccr/cs c{ Sur|us \a|uc, because,asMarxpointsout,weneedtoknow
alotmorebeforewecanexplainindetailwherecrisesmitcomefrom.
Forourpurposeshere,though,it'sworthnoticinghowthe"theconversion
ofthingsintopersonsandtheconversionofpersonsintothings"echoes
thefetishismargumentfromthehrstchapter.
At the heart of Marx's objection to Say's law lies the following
argument. l startwith C,l go to M,butthere isnoforce that compels
meto spendthe moneyimmediatelyon anothercommodity. l can,ifl
want,simplyholdontothemoney.lmightdothat,forexample,ifIfelt
MONY
thcrc was somc InsccurIty In thc cconomy, II I was worrIcd about thc
Iuturcandwantcdtosavc.WhatwouIdyourathcrhavcInyourhandIn
dIcuIttImcs. apartIcuIarcommodItyorthcunIvcrsaIcquIvaIcnt) 8ut
whathappcns tothccIrcuIatIon oIcommodItIcs IngcncraIIIcvcrybody
suddcnIy dccIdcs to hoId on to moncy Jc buyIng oI commodItIcs
wouIdccascandcIrcuIatIonwouIdstop,rcsuItIngInagcncraIIzcdcrIsIs.
!IcvcrybodyInthcworIdsuddcnIydccIdcdnottouscthcIrcrcdItcards
Ior thrcc days,thc whoIc gIobaI cconomywouIdbc In scrIous troubIc.
RccaIIhowwc wcrc aIIurgcd to gct out ourcrcdItcards ahcr p::and
gctbacktoshoppIng.)WhIchIswhysomuchchortIsputtowardgcttIng
moncyoutoIourpockctsandkccpIngItcIrcuIatIng.
InMarx'stImc,mostcconomIsts,IncIudIngRIcardo,acccptcdSay'sIaw
zc,n. (z) .And partIy duc to thc InHucncc oIthc RIcardIans,thc Iaw
domInatcd cconomIc thInkIng throughout thc nInctccnth ccntury and
up untII thc :pos,whcn thcrc was a gcncraIIzcd crIsIs. Jcn IoIIowcd
thc typIcaI,to thIsday) chorus oIcconomIsts sayIngthIngsIIkc,"Jcrc
wouIdbcno crIsIs IIonIythccconomywouIdpcrIormaccordIngtomy
tcxtbook!"JcIactsoIthcGrcatDcprcssIonmadcadomInantcconomIc
thcorythatdcnIcdthcpossIbIIItyoIgcncraIIzcdcrIsIsuntcnabIc.
Jcn,In:p6,JohnMaynardKcyncs pubIIshcdhIs Ccncra| 1ccr) c{
m|c)mcnt, Intcrcst and Mcnc), InwhIchhctotaIIyabandonsSay'sIaw.
InhIsssa)s /n B/cgrah) :p),KcyncsrccxamIncs thc hIstoryoISay's
Iaw and what hc consIdcrcd Its IamcntabIc conscqucnccs Ior cconomIc
thcorIzIng.KcyncsmadcmuchoIsomcthInghccaIIcdthcIIuIdItytrap,
In whIch somc ructIon occurs In thc markct, and thosc wIth moncy
gct ncrvous and hoId on to It rathcr than Invcst or spcnd It, drIvIng
thc dcmnd Ior coodItIc down. SuddcnIy pcopIc cnt cII thcIr
commodItIcs. UnccrtaInty IncrcasIngIytroubIcs thc markct, and morc
pcopIchangontothcIrmoncy,thcsourccoIthcIrsccurIty.SubscqucntIy,
thc whoIc cconomyjustgocsspIraIIngdownward.Kcyncstookthc vIcw
thatgovcrnmcnthadtostcpInandrcvcrscthcproccssbycrcatIngvarIous
hscaI stImuII.JcnthcprIvatcIyhoardcdmoncywouIdbccntIccdback
Intothcmarkct.
Aswc'vc sccn,MarxsImIIarIydIsmIsscs Say'sIawasIooIIshnonscnsc
In Caita/, and sIncc thc :pos thcrc has bccn a dIaIoguc about thc
rcIatIonshIp bctwccn MarxIan and KcyncsIan thcorIcs oIthc cconomy.
Marx cIcarIysIdcswIth thoscpoIItIcaIcconomIstswho dId argucIorthc
possIbIIItyoIgcncraIcrIscsInthcIItcraturcoIthctImc,thcsccconomIsts
8 A COMPAMIOM TO MARX' S CAP7AI
wcrc rcIcrrcd to as "gcncraI gIut" thcorIsts-and thcrc wcrc rcIatIvcIy
Icw oIthcm. Jc Frcnchman SIsmondI was onc, 1homas MaIthus oI
popuIatIon-thcory Iamc) wasanothcr, whIch Is somcwhat unIortunatc,
bccauscMarxcouIdnotabIdcMaIthus,aswcwIIIIatcrscc.
Kcyncs,onthcothcrhand,praIscs MaIthus InordInatcIyInssa)s /n
B/cgmh) butscarccIymcntIonsMarxprcsumabIyIorpoIItIcaIrcasons.
InIact,KcyncscIaImcdhcncvcrrcadMarx.IsuspccthcdId,butcvcnII
hcdIdnt,hcwassurroundcdbypcopIcIIkcthccconomIstJoanRobInson,
who dIdrcad MarxandccrtaInIytoIdKcyncsaboutMarx's rcjcctIon oI
Say'sIaw.KcyncsIanthcorydomInatcdcconomIcthInkIngInthcpostwar
pcrIod, thcn camc thc antI-KcyncsIan rcvoIutIon oIthc Iatc :p;os.1hc
monctarIst and ncoIIbcraI thcory that Is prcdomInant today Is much
cIoscrto an acccptancc oISay'sIaw.Sothc qucstIonoIthc propcr status
oISay'sIawIsanIntcrcstIngoncworthyoIIurthcrInquIry.Whatmattcrs
Iorourpurposcshcrc,though,isarx'scmphaticrccctionofito
1hc ncxt stcp In Marx's argumcnt Is to pIungc Into an anaIysIs oIthc
cIrcuIatIon oI moncy. I wont spcnd much tImc on thc dctaIIs oI thIs,
bccauscMarxIsbasIcaIIyrcvIcwIngthcmonctarIstIItcraturcoIthctImc.
JcqucstIonhcIs posIng hcrc Is.howmuch moncydocsthcrc nccdto
bcIn ordcrto cIrcuIatc a gIvcn quantIty oIcommodItIcs Hc acccpts a
vcrsIon oIwhatIs caIIcdthc"quantItythcoryoImoncy' sImIIarto that
oI RIcardo. Ahcr scvcraI pagcs oI dctaIIcd dIscussIon, hc arrIvcs at a
supposcdIaw.thcquantItyoIthc cIrcuIatIngmcdIumIs"dctcrmIncdby
thcsumoIthcprIccsoIthccommodItIcs IncIrcuIatIon,andthcavcragc
vcIocItyoIthccIrcuIatIonoImoncy"z:p). JcvcIocItyoIcIrcuIatIonoI
moncyIssImpIya mcasurc oIthcratc at whIch moncy cIrcuIatcs-c.g.,
howmanytImcsInadayadoIIarbIIIchangcshands.)HchadcarIIcrnotcd,
howcvcr,that"thcscthrccIactors,thcmovcmcntoIprIccs,thcquantItyoI
commodItIcsIncIrcuIatIon,andthcvcIocItyoIthccIrcuIatIonoImoncy,
can aII vary In varIous dIrcctIons undcr dIhcrcnt condItIons" z:). 1hc
quantIty oImoncy nccdcd thcrcIorc varIcs a grcat dcaI,dcpcndIng on
howthcscthrccvarIabIcsshIh.IIyoucanhndsomcwaytospccdupthc
cIrcuIatIon,thcn thcvcIocItyoImoncy acccIcratcs, as happcns through
crcdIt-card usc and cIcctronIc bankIng, Ior cxampIc. thc grcatcr thc
vcIocItyoImoncy,thcIcssmoncyyounccd,andconvcrscIy. PIaInIy, thc
conccptoIthcvcIocItyoImoncyIsImportant,andtothIsdaythcFcdcraI
RcscrvcgocstogrcatpaInstotrytogctaccuratcmcasurcsoIIt.
MONEY 6
ConsIdcratIonsonthcquantItythcoryoImoncybrInghImbackto thc
argumcnt!IaIdoutatthcbcgInnIngoIthIschaptcr-thatwhcnItcomcs
to thc cIrcuIatIonoIcommodItIcs,IIttIcbIts oIgoId arc InccIcnt. !t Is
muchmorcccIcnttousctokcns,coIns,papcror,ashappcnsnowadays,
numbcrsonacomputcrscrccn.8ut"thcbusIncssoIcoInIng'Marxsays,
"IIkcthccstabIIshIngoIastandardmcasurcoIprIcc,IsanattrIbutcpropcr
to thcstatc"zz-z). So thc statcpIays avItaIroIc InrcpIacIngmctaIIIc
moncy commodItIcs wIth tokcns, symboIIc Iorms. Marx IIIustratcs thIs
wIthbrIIIIantImagcry.
ThcdIcrcntnatIonalunIIormswornathomcbygoldandsIlvcrascoIns,
buttakcnoagaInwhcnthcyappcaronthcworId markct,dcmonstratc
thc scparatIon bctwccn thc Intcrnal or natIonal sphcrcs oI commodIty
cIrculatIonandItsunIvcrsalsphcrc,thcworldmarkct.(zzz)
JcsIgnIhcanccoIthcworIdmarkctandworIdmoncycomcsbackInat
thccndoIthIschaptcr.
LocaIIy, thc qucstIor ccIcnt Iorms oImoncy bccomcs paramount.
"SmaIIchangcappcarsaIongsIdcgoIdIorthcpaymcntoIIractIonaIparts
oIthcsmaIIcstgoIdcoIn"whIchthcnIcadsto"InconvcrtIbIcpapcrmoncy
IssucdbythcstatcandgIvcnIorccdcurrcncy"zz().Assoon as symboIs
oImoncycmcrgc,manyothcrpossIbIIItIcsandprobIcmsarIsc.
apcr moncyIs asbol oIgold,asymbol oImoncy. ItsrclatIontothc
vaIucsocommodItIcsconsIstsonlyInthIs.thcyhndImagInarycxprcssIon
InccrtaInquantItIcsoIold,andthcsamcquantItIcsarcsymbolIcallyand
physIcalIyrcprcscntcdbythcpapcr.(zz)
MarxaIsonotcs"thatjustastrucpapcrmoncyarIscsoutoIthcIunctIon
oI moncy as thc cIrcuIatIng mcdIum, so docs crcdIt-moncy takc root
spontancousIyInthcIunctIonoImoncyasthcmcansoIpaymcnt"zz().
hcmoncycommodIty,gold,IsrcpIaccdbyamanncroIothcrmcansoI
paymcntsuchascoIns,papcrmoncysandcrcdIt.JIshappcnsbccausca
wcIghtoIgoIdIsInccIcntasamcansoIcIrcuIatIon.!tbccomcs"socIaIIy
ncccssary to Icavc goId bchInd and work wIth thcsc othcr symboIIc
IormsoImoncy.
!sthIsaIogIcaIargumcnt,ahIstorIcaIargumcntorboth CcrtaInIy,thc
hIstory oIthc dIhcrcnt monctaryIorms and thc hIstory oIstatc powcr
c A COMPANION TO MARX
'
S CAPI7AI
arc IntrIcatcIy IntcrtwIncd.8utIs thIs ncccssarIIyso,andIs thcrc somc
IncvItabIc pattcrn to thosc rcIatIons UntII thc carIy p;c,most papcr
moncyswcrcsupposcdIy convcrtIbIc IntogoId.JIs waswhatgavc thc
papcrmoncysthcIrsupposcdstabIIItyor,asMarxwouIddcscrIbcIt,thcIr
rcIatIonaIItytovaIuc. ConvcrtIngmoncyInto goIdwas,howcvcr, dcnIcd
toprIvatcpcrsonsInmanycountrIcsIromthcpzconwardandmaInIy
rctaIncd Iorcxchangcsbctwccn countrIcs to baIancc currcncy accounts.
Jc whoIc systcm brokc down In thc Iatc p6cs and carIy p;c, and
wc nowhavc a purcIysymboIIc systcm wIth no cIcar matcrIaI basca
unIvcrsaImoncycommodIty.
So what rcIatIonshIp cxIststodaybctwccn thc varIous papcrmoncys
c.g.,doIIars, curos, pcsos, ycn) and thcvaIuc oI commodItIcs Jough
goId stIIIpIaysanIntcrcstIngroIc,It noIongcrIunctIons asthcbasIs Ior
rcprcscntIng vaIuc. hc rcIatIonship oI moncys to socIaIIy ncccssary
Iabor-timc,whichwasprobIcmaticcvcninthccascofgoId,hasbccomc
cvcnmorcrcmotcandcIusIvc.8uttosayItIshIddcn,rcmotcandcIusIvc
Is notto sayIt docs not cxIst.1urmoIIInIntcrnatIonaI currcncymarkcts
hassomcthIngtodowIthIhcrcnccsInmatcrIaIproductIvItyIndIhcrcnt
natIonaI cconomIcs. Jc probIcmatIc rcIatIonshIp bctwccn thc cxIstIng
moncy-Iorms and commodIty-vaIucs that Max outIncs s stIIIwIth us
andvcrymuchopcntothcIIncoIanaIysIsthathcpIonccrcd,cvcnthough
ItscontcmporaryIormoIappcaranccIsquItcdIhcrcnt.
Scc//cn ]Mcnc)
MarxhascxamIncdmoncyasamcasurcoIvaIucandrcvcaIcdsomc oIIts
contradIctIons,partIcuIarIywIthrcspccttoIts"IdcaI"hnctIonsasprIccand
thcconscqucnt"IncongruItIcs"InthcrcIatIonshIpbctwccnprIccsandvaIucs.
Hc has Iookcd at moncyIrom thc standpoInt oIcIrcuIatIon and rcvcaIcd
anothcr sct oIcontradIctIons IncIudIng thc possIbIII oIgcncraI crIscs).
Mow-pIcaIMarx-hccomcsbacktousandsays,wcII,atthccndoIthc
day,thcrcIsonIyoncmonc1hIsmcansthatsomchowthccontradIctIons
bctwccnmoncyasamcasurcoIvaIucandmoncyasamcdIumoIcIrcuIatIon
havctohavc"roomtomov orpcrhapscvcnbcrcsoIvcd.
Hc thus bcgIns by rcItcratIng thc IoundatIonaI Idca oI moncy as
"thc commodIty whIch IunctIons as a mcasurc oIvaIuc and thcrcIorc
aIso as thc mcdIum oIcIrcuIatIon, cIthcr In Its own body or through a
rcprcscntatIvc"zz;).SowcarcbacktothcunItaryconccpt,butwcmust
cxamInc how thc contradIctIons carIIcr IdcntIhcd can opcratc wIthIn
MONY 1
It. Jc IooscnIng oIthc conncctIon bctwccn vaIuc and Its cxprcssIon
provIdcs room Ior mancuvcr, but It docs so at thc cxpcnsc oI contact
wItharcaIandsoIIdmonctarybasc.FromthIspoInt,Marxprobcsdccpcr
IntothccontradIctIonsthatcharactcrIzcthIscvoIvcdIormoIthcmoncy
systcm.HcbcgInsbyconsIdcrIngthcphcnomcnonoIhoardIng.
cnthccIrculatIon oIcommodItIcs nrst dcvclops,thcrc alsodcvclops
thc ncccssIty and thc passIonatc dcsIrc to hold Iast to thc product oI
thc nrst mctamorphosIs. TIs product Is thc transIormcd shapc oI thc
commodIty,orItsgoldchrysalIs. CommodItIcs arcthus soldnotInordcr
tobuycommodItIcs,butInordcrtorcplaccthcIrcommodIty-IormbythcIr
moncy-Iorm. Instcad oIbcIng mcrcly awayoImcdIatIng thc mctabolIc
proccss,thIs changc oIIorm bccomcs an cnd In ItsclI. . . 1hc moncyIs
pctrIncdIntoahoard,andthcscllcroIcommodItIcsbccomcsahoardcroI
moncy.(zz)-, cmphasIsaddcd)
JIs passagc Iorcshadows anothcr kInd oIcIrcuIatIon proccss, as wc'II
scc, In whIch C-M-C Is vIcwcd as M-C-M wIth thc procurcmcnt oI
moncyasancndInItscII. )
8ut whywouId pcopIc do thIs Marx ohcrs an IntcrcstIng twoIoId
answcr. Onthc onchandthcrc Is apassIonatc dcsIrc Iormoncy-powcr,
but on thc othcr thcrc aIso cxIsts a socIaI ncccssIty. Why Is hoardIng
socIaIIy ncccssary Ior commodIty cxchangc Hcrc hc Invokcs thc
tcmporaI probIcm oIcoordInatIng thc saIcs and purchascs oIdIhcrcnt
commodItIcs that takc vcry dIhcrcnt tImcs to producc and brIng to
markct.A Iarmcrproduccs on an annuaIbasIsbut aIsobuyson a daIIy
basIshcthcrcIorcnccdsto hoard rcscrvcsIrom onc harvcst tothcncxt.
AnyoncwIshIngtopurchascabIg-tIckctItcmIIkcahouscoracar)nccds
tohoardmoncyhrstunIcssthcrcIsacrcdItsystcm."InthIswayhoards
oIgoIdandsIlvcroIthcmostvarIoussIzcsarcpIIcdupataIIthcpoIntsoI
commcrcIaIIntcrcoursc"(zz).
8ut thc abIIIty tohoId thc mcans oIcxchangc Indcnancc oISay's
Iaw) aIso awakcns a passIon, a"Iust Ior goId'"1hc hoardIng drIvc,' hc
says,"Is boundIcss In Its naturc'WItncss ChrIstophcr CoIumbus."GoId
IsawoncrIuIthIng! ItsowncrIsmastcroIaIIhcdcsIrcs.GoIdcancvcn
cnabIc souIsto cntcr ParadIsc (zz-{o). Hcrc Marx,quotIng CoIumbus,
rcturns to thc Idca that oncc you can hang a prIcc tag on somcthIng,
youcanhangIt onanythIngcvcn apcrsossouI,ashIsaIIusIontothc
2 A COMPANION TO MARX
'
S CAPI7AI
CathoIIcChurcsInIamousmcdIcvaIpractIccoIscIIIngInduIgcnccsI.c.,
papaIpardonsthatpromIscdcntryIntohcavcn) suggcsts.
CIrcuIatIon bccomcs thc grcat socIaI rctort Into whIch cvcrythIng Is
thrown,tocomcoutagaInasthcmoncycrystaI.MothIngIsImmuncIrom
thIsalchcmy, thcboncsoIthc saIntscannotwIthstandIt. (zz,)
1hc saIc oIInduIgcnccs Is somctImcs rcgardcd as onc oIthchrstmajor
wavcs oI capItaIIst commodIhcatIon. H ccrtaInIy IaId thc basIs Ior aII
that hoardcdwcaIth In thcVatIcan. 1aIk about thc commodIhcatIon oI
conscIcnccandhonor!
So thcrc Is nothIng that Is not commcnsurabIc wIth moncy, In thc
cIrcuIatIon oI commodItIcs, It Is "a radIcaI IcvcIIcr, It cxtInguIshcs aII
dIstInctIons"(zz) JIsIdcaoImoncyasaradIcaIIcvcIcrIsvcryImportant.
HIndIcatcsaccrtaIndcmocracyoImoncy,ancgalItarIanIsmInIt.adoIIar
InmypockcthasthcsamcvaIucasoncInyours.WIthcnoughmoncy,you
couIdbuyyourwayIntohcavcnnomattcryoursIns!
8utmoncyIsaIso"ItscIIa commodIty, an cxtcrnaIobjcctcapabIc oI
bccomIngthc prIvatcpropcrtyoIanyIndIvIduaI.Jus thc socIaIpowcr
bccomcsthcprIvatcpowcroIprIvatcpcrsons" (zz-{o). 1hIsIs avItaI
stcpInMarx'sargumcnt.MotIcchowItcchocsthcthIrd"pccuIIarIty"oIthc
moncy-IormrcvcaIcdInthc scctIononrcIatIvc andcquIvaIcntvaIucs
I.c.,moncy'stcndcncytorcndcrprIvatcIaboramcans oIcxprcssIonIor
socIaIIabor.WIththIsstcp,though,MarxrcvcrscsthatInItIaIIormuIatIon
oIthcIogIcaIrcIatIonbctwccnmoncyandIabor.Jcrc,thcprobIcmwas
that prIvatc actIvItIcs wcrc InvoIvcd In thc productIon oIthc unIvcrsaI
cquIvaIcnt.Mow,hc Is dcscrIbIngthcway In whIch prIvatc pcrsons can
approprIatc thc unIvcrsaI cquIvaIcnt Ior thcIr own prIvatc purposc
andwc bcgInto sccthcpossIbIIItyIorthcconccntratIonoIprIvatc and,
cvcntuaIIy, cIasspowcrInmonctaryIorm.
JIs docs not aIways go downwcIIncIcnt socIcty . . . dcnounccd
It as tcndIngto dcstroythc cconomIc and moraI ordcr" (z{o). 1hIs Is a
thcmc that Marx cxpIorcd at somc Icngth In thc Crundr/ssc, whcrc hc
wrItcsonhowmoncydcstroycdthcancIcntcommunItybybccomIngthc
communItyItscII, thc communItyoImoncy. 1hIs Is thc kInd oIworId
In whIch wc ourscIvcs now IIvc. Wc may havc IantasIcs oI bcIongIng
2. Marx, Grundrssc, 224.
MONY j
to thIs or that cuIturaI communIty, but In practIcc, Marx argucs, our
prImarycommunItyIsgIvcnbythccommunItyoImoncy-thcunIvcrsaI
cIrcuIatorysystcmthatputsbrcakIastonourtabIcs-whcthcrwcIIkc It
ornot.
odcrnsocIcty,whIchaIrcadyInItsInfancyhadpuIIcdIutobythchaIr
ofhIshcadfromthcbowcls ofthc carth,grccts goId as Its HoIy raII, as
thcgIIttcrIngIncarnatIonofItsInncrmostprIncIpIcofIIfc.(zo)
1hc socIaI powcr that attachcs to moncy has no IImIt. 8ut boundIcss
though thc hoardIng drIvc may bc, thcrc Is a quantItatIvc IImItatIon
on thc hoardcr. thc amount oImoncy hc has at anygIvcn tImc.JIs
contradIctIonbctwccnthcquan///a//vc |/m//a//cn andthcqua|//a//vc |ack
c{ |/m//a//cn oImoncykccps drIvIng thchoardcrbackto hIs SIsyphcan
task. accumuIatIo z], cmphasIs addcd) . 1hIs Is thc hrst mcntIon oI
accumuIatIonInCa//a|, andItIsImportanttonotIccthatMarxarrIvcsat
ItbyuncovcrIngthccontradIctIonInhcrcntInthcactofhoardIngmoncy.
Jc IImItIcsspotcntIaIItIcs IormonctaryaccumuIatIon arc IascInatIng
to rcIIcct on.1hcrc Is aphysIcaIIImIt to thc accumuIatIon oIusc-vaIucs.
ImcIdaMarcosIsrcportcdtohavchadsomctwothousandpaIrsoIshocs,
butthIscnormousquantItyIsstIIIahnItc amount.HowmanyFcrrarIs or
McMansIons canyouownWIthmoncy-powcr, thc sky sccms to bcthc
IImIt. Mo mattcrhowmuch moncythcy carn,aII COs and bIIIIonaIrcs
want,andcangct,morc.Inzoo, thc IcadInghcdgchndmanagcrs Inthc
UnItcdStatcsrcccIvcdaround $z,o mIIIIonIn pcrsonaI rcmuncratIon,but
by zoo scvcraIoIthcm,IncIudIng corgc Soros,gaIncdncary$ bIIIIon.
caccumulatIonofmoncyasunIImItcdsocIalpowcrIsd csscntIalfcaturc
ofacapItaIIstmodc ofproductIon.Whcn pcopIc scck to accumuIatc that
socIaIpowcr,thcystarttobchavcInavcrydIhcrcntway.OnccthcunIvcrsaI
cquIvaIcnt bccomcs a rcprcscntatIon oIaII socIaIIy ncccssaryIabor-tImc,
thcpotcntIaIItIcsIorIurthcraccumuIatIonarcIImItIcss.
1hc conscqucnccs oIthIs arc IcgIon.AcapItaIIst modc oIproductIon
IscsscntIaIIybascdonInhnItcaccumuIatIonandIImItIcssgrowth.Othcr
socIaIIormatIons at somchIstorIcaIorgcographIcaI poIntrcach aIImIt,
andwhcn thcydo,thcycoIIapsc.8ut thc cxpcrIcncc oIcapItaIIsm,wIth
somc obvIousphascsoIIntcrruptIon,hasbccn charactcrIzcdbyconstant
and sccmIngIy IImItIcss growth. 1hc mathcmatIcaI growth curvcs
IIIustratIngthchIstoryoIcapItaIIsmIntcrmsoftotaIoutput,totaIwcaIth

A COMPANlON TO MARX'
S CAPI7AI
andtotaImoncyIncIrcuIatIonarcastonIshIngtocontcmpIatcaIongwIth
thcradIcaI socIaI,poIItIcaIandcnvIronmcntaIconscqucnccsthcyImpIy).
JIs growth syndromc wouId not bc possIbIc IInotIor thc sccmIngIy
IImItIcsswayIn whIch thc rcprcscntatIon oIvaIuc can bcaccumuIatcd
InprIvatchands. Monc oIthIs Is cxpIIcItIy mcntIoncd In Ca//a/, but It
hcIpsusmakcanImportantconncctIon.MarxIsscttInguphIsargumcnt
conccrnIng thc contradIctIon bctwccn thc IImItIcss potcntIaIIty oI
moncy-powcr accumuIatIon and thc IImItcd possIbIIItIcs Ior usc
vaIuc accumuIatIon. 1hIs,wc'II scc,Is a prccursor to hIs cxpIanatIon oI
tc growth dynamIcs and cxpansIonary naturc oIwhat today wc caII
"gIobaIIzIng"capItaIIsm.
AtthIspoInt,howcvcr,hcsImpIytakcsthcstandpoIntoIthchoardcr,Ior
whomthcIImItIcssaccumuIatIonoIsocIaIpowcrInthc IormoImoncyIs a
sIgnIcantInccntIvcIcavIngasIdcthcaddcdInccntIvcoIthcacsthctIcvaIuc
attachcd tobcautiIsvcrandgoIdobccts.arx noticcsthathoarding
hasapotcntIaIIyuschI hnctIon InrcIatIonto thccontradIctIonbctwccn
moncyasamcasurcoIvaIucandasamcdIumoIcIrcuIatIon.1hchoardcd
moncyconstItutcs arcscrvc that canbput Into cIrcuIatIon IIthcrc Is a
surgcIncommodItyproductIonandcanbcrctractcdwhcnthcquantItyoI
moncynccdcdIorcIrcuIatIonshrInksc.g.,ductoanIncrcascInvcIocIty).
InthIswathcIormatIonoIahoardbccomcscrucIaItomodcratIng"thc
cbbsandHows"oIthcmoncyIncIrcuIatIonz]).
1hc cxtcnt to whIch a oard can pcrIorm thIs IunctIon dcpcnds,
howcvcr,onwhcthcrItIsuscdapproprIatcIy.HowmIghthoardcdmoncy
bccntIccdbackIntocIrcuIatIonwhcnnccdcdRaIsIngthcrcIatIvcprIccoI
goIdandsIIvcr,IorcxampIc,couIdtcmptpcopIctospcndoncommodItIcs
thathavcbccomcrcIatIvcIychcapcr.1hcIdcaIsthat"thcrcscrvcscrcatcd
byhoardIngscrvcaschanncIsthroughwhIchmoncymayHowInandout
oIcIrcuIatIon,sothatcIrcuIatIonItscIIncvcrovcrHowsItsbanks"z]z).
MarxthcnconsIdcrsthcImpIIcatIonsoImoncybcInguscdasamcans
oIpaymcnt.AgaIn,thc basIc probIcm addrcsscdhcrc arIscs out oIthc
IntcrscctIngtcmporaIItIcs oI dIhcrcnt kInds oIcommodIty productIon.
A Iarmcrproduccs a crop that can bcputonthcmarkctIn Scptcmbcr.
HowdoIarmcrsIIvcthcrcstoIthcycar1hcynccdmoncycontInuousIy
butgctthcIrmoncyaIIatonctImc,onccaycar.Onc soIutIon,InstcadoI
hoardIng,IstouscmoncyasamcansoIpaymcnt.1hIscrcatcsatImcgap
bctwccnthccxchangcoIcommodItIcsandthcmoncycxchangcs,aIuturc
datc oIscttIcmcnt has to bc sct. MIchacImasbccamca tradItIonaI datc
MOMEY j
to scttIc up accounts In 8rItaIn, rcHcctIng thcagrIcuIturaIcycIc thcrc.)
JccommodItIcscIrcuIatc"ontIck'MoncybccomcsmoncyoIaccount,
wrIttcn down In a Icdgcr. SIncc no moncy Is actuaIIy movIng untII
scttIcmcntdatc,IcssaggrcgatcmoncyIsnccdcdtocIrcuIatccommodItIcs,
andthIshcIpsrcsoIvctcnsIonsbctwccnmoncyasamcasurcoIvaIucand
asamcdIumoIcIrcuIatIonz]z]).
JcrcsuItIsancwkIndoIsocIaIrcIatIon-thatbctwccndcbtorsand
crcdItors-whIchgIvcs rIsc to a dIhcrcntkInd oIcconomIc transactIon
andadIhcrcntsocIaIdynamIc
Tc scllcr bccomcs a crcdItor, thc buycr bccomcs a dcbtor. SIncc thc
mctamorphosIs oI commodItIcs, or thc dcvclopmcnt oI thcIr Iorm oI
valuc, has undcrgonc a changc hcrc, moncy rcccIvcs a ncw IunctIon as
wcll. Hbccomcsthcmcans oIpacnt.(z)
8ut notc wclI "thc roIc oI crcdItor or oI dcbtor rcsuIts hcrc Irom thc
sImpIc cIrcuIatIon oIcommodItIcs,'but It Is aIso possIbIc Ior It to shIh
IromtransIcnt,occasIonaIIormsto"amorcrIgIdcrystaIIIzatIon,'bywhIch
hcmcansamorcdchnItccIassrcIatIon.HccomparcsthIsdynamIctothc
cIassstruggIcInthcancIcntworIdandthccontcstInthcMIddIcAgcsthat
"cndcdwIththcruInoIthcIcudaldcbtors,whoIostthcIrpoIItIcaIpowcr
togcthcrwIthItscconomIcbasIs"z]]). )SothcrcIsapowcrrcIatIonwIthIn
thcdcbtor-crcdItorrcIatIon,thoughItsnaturchasycttobcdctcrmIncd.
SowhatIsthcroIcoIcrcdItInthcgcncraIcIrcuIatIonoIcommodItIcs
Supposc I am a crcdItor.YouarcIn nccd oImoncy, and l Icnd It toyou
nowwIththcIdcaIwgctItbackIatcr.1hcIormoIcIrcuIatIonIsM-C-M,
whIchIsvcrydIhcrcntIromC-M~LWhywouIdIcIrculatcmoncyInordcr
IatcrtogctbackthcsamcamountoImoncy1hcrcIsnoadvantagctomc
InthIsIormoIcIrcuIatIonunIcssIgctbackmorcmoncyatthccndthanI
startcdwIth.PcrhapsIt'saIrcadycIcarwhcrcthIsanaIysIsIsIcadIng.)
JcrcIoIIowsacrucIaIpassagc,thcsIgnIhcanccoIwhIchIsaIItoocasy
tomIss,partIybccauscoIthcwayMarxburIcsItIncompIIcatcdIanguagc.
IcItcItncarIyInIuII.
ct us rcturn to thc sphcrc oI cIrculatIon. hc o cquIvalcnts,
commodItIcs and moncy, havc ccascd to appcar sImultancously at thc
two polcs oIthc proccss oI salc. Tc moncy IunctIons now, hrst as thc
mcasurc oIvaluc In thc dctcrmInaton oI thc prIcc oI thc commodIty
A COMPANION TO MARX'S CAPI7AI
soId . . . ccondIy It scrvcs as a nomInaI mcans ofpurchasc.AIthough
cxIstIngonIyInthcpromIsc ofthcbuycrtopay,ItcauscsthccommodIty
tochangchands.otuntIIpaymcntfaIIs duc docsthcmcansofpaymcnt
actuaIIystcpIntocIrcuIatIon,I.c.IcavcthchandoIthcbuycrforthatofthc
scIIcr.TccIrcuIatIngmcdIumwastransformcdInto ahoardbccauscthc
proccssstoppcdshortahcrthchrstphasc,bccauscthcconvcrtcdshapcof
thccommodItywas wIthdrawn from cIrcuIatIon.Tcmcans oIpaymcnt
cntcrs cIrcuIatIon,but onIy ahcr thc commodIty has aIrcady Ic It. Tc
moncynoIongcr mcdIatcs thcproccss.HbrIngsIttoancndbycmcrgIng
IndcpcndcntIy, as thc absoIutc Iorm ofcxIstcncc of cxchangc-vaIuc, In
othcrwords thc unIvcrsaI commodIty. Tc scIIcr turncd hIs commodIty
IntomoncyInordcrtosatIssomcnccdthchoardcrInordcrtoprcscrvc
thcmonctaryIormofhIscommodIty,andthcIndcbtcdpurchascrInordcr
tobcabIcto pay. Ifhc docs notpay,hIs goodswIIIbcsoIdcompuIsorIIy.
Te value-]orm o]the commodt), mone), has now become the seq-su_cent
purpose o the sale, owny to a socal necessty sprnynyrom the condtons
o] the ]rocess o]c/rculat/on /tseq (z{{-, cmphasIsaddcd)
Dccodcd,thIsmcansthatthcrcnccdstobcaIormoIcIrcuIatIonInwhIch
moncy IsgoIngto bc cxchangcd Inordcrto gctmoncy.M-C-M. JIs Is
a shIh In pcrspcctIvc that makcs a worId oIdIhcrcncc. Ifthc objcctIvc
Is procurIng othcr usc-vaIucs through commodIty productIon and
commodItycxchangc,aIbcItmcdIatcdthroughmoncy,wc'rcdcaIIngwIth
C-M-C. In contrast, M-C-M Is a Iorm oIcIrcuIatIon In whIch moncy
Is thc objcctIvc, notcommodItIcs. In ordcr Ior thatto havc a ratIonaIc,
It rcquIrcs that ! gct back morc moncythan I startcd wIth. JIs Is thc
momcntInCa/ta| whcnwchrstsccthccIrcuIatIonoIcapItaIcrystaIIIzIng
outoIthccIrcuIatIonoIcommodItIcs mcdIatcdbythc contradIctIons oI
moncy-Iorms.JcrcIsabIgdIhcrcnccbctwccnthccIrcuIatIonoImoncy
as a mcdIator oIcommodItycxchangc and moncyuscd ascapItaI.Mot
a moncy Is capItaI.A monctIzcd socIcty Is not ncccssarIIy a capItaIIst
socIcty. IIcvcrythIng rcvoIvcd around thc C-MC cIrcuIatIon proccss,
thcnmoncywouIdbcmcrcIyamcdIator,nothIngmorc.CapItaIcmcrgcs
whcnmoncyIsputIntocIrcuIatIonInordcrtogctmorcmoncy.
!wantto pausc nowto rcHcctabItonthcnaturcoIMarx'sargumcntso
Iar.AtthIspoInt,wccansaythatthcproIIIcratIonoIcommodItycxchangc
ncccssarIIy Icads to thc rIsc oI moncy-Iorms and that thc IntcrnaI
contradIctIonwIthInthcscmoncy-IormsncccssarIIyIcads,Inturn,tothc
MONEY
rIscoIthccapItaIIstIorm oIcIrcuIatIon,InwhIchmoncyIsuscdtogaIn
morcmoncy.1hIsIs,crudcIysummarIzcd,thcargumcntoICa/ta| soIar.
WchrsthavctodccIdcwhcthcrthIsIsahIstorIcaIoraIogIcaIargumcnt.
II It Is thc Iormcr, thcn thcrc Is a tcIcoIogy to hIstory In gcncraI, and
capItaIIsthIstoryInpartIcuIar,thcrIscoIcapItaIIsmIsanIncvItabIcstcpIn
humanhIstory,cmcrgIngoutoIthc graduaIproIIIcratIons oIcommodIty
cxchangc.RIspossIbIctohndstatcmcntsInMarxthatwouIdsupportsuch
a tcIcoIogIcaIvIcw, andhIs IrcqucntdcpIoymcntoIthc word"ncccssary"
ccrtaInIysupports such anIntcrprctatIon.I myscIIam not convInccdoIIt,
andIIMarxdIdIndccdbcIIcvc thIs thcnIthInkhcwaswrong.
1hIs Icavcs us wIth thc IogIcaI ratIonaIc, whIch I hnd much morc
pcrsuasIvc. It Iocuscs on thc mcthodoIogy at work as thc argumcnt
unIoIds.thcdIaIcctIcaIandrcIatIonaIopposItIonbctwccn usc-vaIuc and
cxchangc-vaIucascmbodIcdInthccommodIty,thccxtcrnaIIzatIonoIthat
opposItIonIn thc moncy-Iormasawayto rcprcscntvaIucandIacIIItatc
commodIty cxchangc, thc IntcrnaIIzatIon oI thIs contradIctIon by thc
moncy-Iorm as both a mcdIum oIcIrcuIatIon and a mcasurc oIvaIuc,
and thc rcsoIutIon oI that contradIctIon through thc cmcrgcncc oI
rcIatIonsbctwccndcbtorsandcrcdItorsInthcuscoImoncyasamcansoI
paymcnt.MowwcarcInaposItIontoundcrstandmoncyasthcbcgInnIng
andcndpoIntoIadIstInctIvccIrcuIatIonproccss,tobccaIIcdcapItaI.1hc
IogIcoIMarx'sargumcntrcvcaIsthcIntcrnaIIzcddIaIcctIcaIrcIatIonsthat
charactcrIzcaIuIIydcvcIopcdcapItaIIstmodcoIproductIonundcrstood
as a totaIIty) oIthc sortthatcvoIvcd IorcontIngcnthIstorIcaIrcasons)
IromthcsIxtccnthccnturyonwardIn8rItaInInpartIcuIar.
Jcrc may, oI coursc, bc somc compromIsc to bc madc wIth thc
hIstorIcaIratIonaIc,ImpIybyconvcrtIngthcIanguagcIrom"ncccssIty"to
"possIbIII"orcvcn"probabIIIty"or"IIkcIIhood'WcwouIdthcn saythat
thccontradIctIonsInthcmoncy-IormcrcatcdthcpossIbIIItyIorthcrIscoI
acapItaIIstIormoIcIrcuIatIon,andpcrhapscvcnpoInttospccIhchIstorIcaI
cIrcumstanccsInwhIchthcprcssurcscmanatIngIromthosccontradIctIons
mIght bccomc so ovcrwhcImIng as to dIrcctIycausc capItaIIsm to brcak
through.CcrtaInIymuchoIwhatMarxattrIbutcsto"socIaIncccssIty"wouId
sccm to IndIcatc thIs.WccouIdIIkcwIsc poInt tothc Intcnsc barrIcrsthat
hadtobcdcvcIopcdIn"tradItIonaI"socIctIcstoprcvcntthccapItaIIstIorm
oIcIrcuIatIon Irom comIng to domInatcandthc socIaI InstabIIItIcs thosc
socIctIcscxpcrIcnccdasthcywcrcsubjcctcdtopcrIodIcIcastsandIamIncs
oIcIthcrcommodItytradIngorgoIdorsIIvcrsuppIy.DIhcrcntsocIaIordcrs
8 A COMPANION TO MARX' S CAPI7AI
suchasChIns)havc,atvarIoustImcs,rIddcnoutthcsccontradIctIonsIn
thcIrownIashIonwIthoutIaIIIngundcrthcdomInatIonoIcapItaI.cthcr
contcmporary ChIna has alrcady Iallcn Into thc capItaIIst camp or can
managctocontInuctorIdcthccapItaIIsttIgcrIs,howcvcr,amattcroIgrcat
ImportandasubjcctoImuchdcbatc.Imust,howcvcr,concIudcnowwIth
ascrIcsoIqucstIonstocontcmpIatc.
In Ca//a/, Marx passcs on to morc partIcuIar mattcrs. Jcrc Is, hc
notcs"acontradIctIon ImmancntInthcIunctIonoImoncyasthcmcans
oIpacnt".
cnthcpaymcntsbalancccachotcr,moncyIunctIonsonlynomInally,
as moncyoIaccount, as amcasurc oIvaluc. 8utwhcn actual pamcnts
havc to bc madc, moncy docs not comc onto thc sccnc as acIrculatIng
mcdIum, In Its mcrcly transIcnt Iorm oI an IntcrmcdIary In thc socIal
mctabolIsm, but as thc IndIvIdual IncarnatIon ot socIal labour, thc
IndcpcndcntprcscnccoIcxchangcvaluc,thcunIvcrsalcommodIty.(z{,)
JatIs,whcnmoncycomcsInto cIrcuIatIontosoIvcthIsdIscquIIIbrIum,
thosc who hoId It dont do so out oI thc goodncss oI thcIr hcarts,
rcspondIngto thc nccds oIothcrs or to thc markct's nccdIor a grcatcr
suppIy oImoncy. Rathcr,somcbodywho owns thc unIvcrsaI cquIvaIcnt
puts It Into thc markct purposcIuIIy, Ior somc rcason, and wc havc to
undcrstandwhatthat rcason mIght bc. 8ut thc "Indcpcndcncc" oIthc
unIvcrsaI commodIty and Its scparatIon Irom day-to-day commodIty
cIrcuIatIonhavcproIound conscqucnccs.
FromhcrcMarxsargumcnttakcsasurprIsIngturn.
TIs contradIctIon bursts Iorth In that aspcct oI an IndustrIal and
commcrcIaI crIsIs whIchIsownasamonctarycrIsIs.uchacrIsIsoccurs
onlywhcrcthcongoIngchaInoIpacntshasbccnllydcvclopcd,along
wIth an artIhcIal systcm Ior scttlIng thcm. cncvcr thcrc Is a gcncral
dIsturbancc oIthc mcchaIsm, no mattcrwhatIts causc,moncysuddcnly
ad ImmcdIatcly changcs ovcrIrom Its mcrcly nomInal shapc, moncy oI
accout,Intohardcash.roIanccommodItIcscannolongcrrcplacc It.(z{6)
Inothcrwords,you catscttIcyourbIIIswIth morc IOUs,you'vc gotto
hndhardcash,thcunIvcrsaIcquIvaIcnt,topaythcmoh.JIsthcnposcs
thcsocIaIqucstIonIngcncraI.whcrcIsthchardcashgoIngtocomcIrom
MarxcontInucs,
MONY Q
Thc usc-valuc oI commodItIcs bccomcs vauccss, and thcIr valuc
vanIshcsInthcIaccoIthcIrownIormoIvaluc.TcbourgcoIs,drunkwIth
prospcrItyandarrogantlyccrtaInoIhImsclI,hasjustdcclarcdthatmoncy
IsapurclyImagInarycrcatIon.CommodItIcsaloncarcmoncyhcsaId.8ut
nowthcopposItccryrcsoundsovcrthcmarkctsoIthcworld.onlymoncy
IsacommodIty.As thchartpantsacrIrcshwatcr,sopantshIssoulacr
moncy,thconlywcalth.InacrIsIs,thcantIthcsIsbctwccncommodItIcsand
thcIrvaluc-Iorm,moncy,IsraIscdtothclcvcloIan absolutccontradIctIon.
cncc moncy's Iorm oIappcaranccIshcrcalso amattcroIIndIcrcncc.
TcmonctaryIamIncrcmaInswhcthcrpaymcntshavctobcmadcIngold
orIn crcdIt-moncy,suchasbank-notcs.(z,6-))
8ackIn2OOj,thcrcwasaconscnsusthatthcrcwasanImmcnscsurpIusoI
IIquIdItysIoshIngaroundInthcworId'smarkcts.1hcbankcrshadsurpIus
Iunds and wcrc IcndIng to aImost anyonc, IncIudIng, as wc Iatcr Iound
out, pcopIcwho had no crcdItworthIncsswhatsocvcr. 8uyahouscwIth
no Incomc Surc,whynotMoncydocsntmattcr bccausccommodItIcs
IIkc housIng arc asaIcbct. 8utthcnthc prIccs oIhouscs stoppcd rIsIng,
and whcn thc dcbts IcII duc, morc and morc pcopIc couId not pay.At
thatpoIntthc IIquIdItysuddcnIydrIcsup.WhcrcIs thcmoncySuddcnIy
thc cdcraI RcscrvchastoInjcctmassIvcIundsInto thcbankIngsystcm
bccauscnow"moncyIsthconIycommodIty'
As Marx amusIngIyput It cIscwhcrc,In boomcconomIcs cvcrybody
acts IIkc a Protcstant-thcy act on purc IaIth.Whcn thc crash comcs,
though,cvcryonc dIvcs IorcovcrIn thc"CathoIIcIsm" oIthc monctary
basc, rcaI goId. 8ut It Is In thcsc tImcs that thc qucstIon oIrcaI vaIucs
andrcIIabIcmoncy-Iormsgctsposcd.WhatIsthcrcIatIonbctwccnwhat
Is goIng onIn all thosc dcbt-bottIIng plants In Mcwor Cty and rcaI
productIon Arc thcy dcalIng In purcly hctItIous vaIucs hcsc arc thc
qucstIonsthatMarxraIscsIorus,qucstIonsthatarcIorgottcndurIngthc
haIcyonycarsbutrcguIarIycomcbacktohauntusat momcnts oIcrIsIs.
OnccthcmonctarysystcmbccomcscvcnmorcdctachcdIromthcvaIuc
systcmthanItdocswIthagoIdstandard,thcnalIsortsoIwIIdpossIbIlItIcs
opcnupwIthpotcntIalIydcvastatIngconscqucnccsIorsocIaIandnaturaI
rclatIons.
Jc suddcn shortagc oIcIrcuIatIng mcdIum, at a ccrtaIn hIstorIcaI
momcnt, can IIkcwIsc gcncratc a crIsIs.WIthdrawIng short-tcrm crcdIt
Iromthc markctcan crash commodItyproductIon. A good cxampIc oI
8o A COMPANlON TO MARX' S CAPI7AI
thattookpIaccInastandSouthcastAsIabctwccnpp;andpp8.PcrIcctIy
adcquatc companIcs, producIng commodItIcs, wcrc hcavIIy Indcbtcd
butcouIdcasiIyhavc workcdthcirwayout oIthcir indcbtcdncss hadIt
not bccn Ior a suddcnwIthdrawaI oIshorttcmIIquIdIty.Jc bankcrs
wIthdrcwthcIIquIdIty,thc cconomy crashcd andvIabIccompanIcswcnt
bankrupt,scIIIngoutIorIackoIacccsstothcmcans oIpaymcnt.Wcstcrn
capItaIandthcbankscamcInandboughtthcmaIIupIoraImostnothIng.
LIquIdIty was thcn rcstorcd, thc cconomy rcvIvcd and suddcnIy thc
bankruptcdcompanIcs arcvIabIcagaIn.xccptnowthcyarc owncdby
thcbanksandthcWaIIStrcctIoIk,who can scIIthcmohatan Immcnsc
proht.InthcnInctccnthccntury,thcrcwcrcscvcraIIIquIdItycrIscsoIthIs
kInd,andMarxhadIoIIowcdthcmcIoscIy. 8(8 sawaproIoundcIcmcnt
oIaIIquIdItycrIsIs.AndthcpcopIcwhocamcoutoIthatycarcxcccdIngIy
cnrIchcdandcmpowcrcdwcrc-gucsswho-thcpcopIcwhocontroIIcd
thc goId, I.c.,thc othschIIds. cybrought down govcrnmcnts sImpIy
bccausc thcy controIIcd thc goId at that partIcuIar momcnt. In Ca//a/,
MarxshowshowthcpossIbIIItyoIthIskIndoIcrIsIsIsImmancntInthc
waycontradIctIonswIthInthcmonctarysystcmmovcundcr capItaIIsm
z]6).
JIsthcn Icads Marx to modI| thc quantIty thcory oI moncy, by
InsIstIng that Icss moncy Is nccdcd thc morc paymcnts baIancc cach
othcr out and thc morc moncy bccomcs a mcrc mcans oI paymcnt.
"CommodItIcs cIrcuIatc,butthcIrcquIvaIcnt Inmoncydocs notappcar
untIIsomcIuturcdatc'InthIsway,"crcdIt-moncysprIngsdIrcctIyoutoI
thcIunctIonoImoncyasamcansoIpaymcnt,InthatccrtIncatcsoIdcbt
owIngIoraIrcadypurchascdcommodItIcs"-whatonWaIIStrcctIsnow
InstItutIonaIIzcdascoIIatcraIIzcddcbtobIIgatIons CDOs)-"thcmscIvcs
cIrcuIatcIorthcpurposcoItransIcrrIngthoscdcbtstoothcrs"z];8).
On thc othcr hand, thc Iunction oImoncy as a mcans oI paymcnt
undcrgocs cxpansioninproportionasthc systcmoIcrcdit itscIIcxpands
. . . hcnthcproductionoIcommoditicshas attaincd accrtainIcvcIand
cxtcnt, thc Iunction oI moncy as a mcans oI paymcnt bcgins to sprcad
outbcyondthcsphcrcoIthccircuIationoIcommoditics.H bccomcs thc
univcrsaI matcriaI oI contracts. cnt, tcs and so on arc transIormcd
IrompamcntsInkIndtopaymcntsInmoncy. z]8)
WIththIs,MarxantIcIpatcsthcmonctIzatIonoIcvcrythIng,aswcIIasthc
MO~EY 8 :
sprcadoIcrcdItandhnanccInwaysthatwouIdradIcaIIytransIormboth
cconomIcandsocIaIrcIatIons.
Jc bottom IInc Is that "thc dcvcIopmcnt oI moncy as a mcans oI
paymcntmakcsItncccssarytoaccumuIatcItInprcparatIonIor thcdays
whcnthc sums whIch arcowIngIaIIduc"z(c). AgaIn,accumuIatIonand
hoardIngarcpaIrcd,butthcyhavcdIhcrcntIunctIons.
WhIIc hoardIng,consIdcrcd asanIndcpcndcntform ofsf-cnrIchmcnt,
vanIshcs wIth thc advancc of bourgcoIs socIcty, It grows at thc samc
tImc In thc form ofthc accumuIatIon ofarcscrvc fund ofthc mcans of
paymcnt.z()
JIs Icads Marxto modI|thc quantItythcoryoImoncycarIIcr statcd.
thc totaI quantIty oI moncy rcquIrcd In cIrcuIatIon Is thc sum oI
commodItIcs, muItIpIIcd by thcIr prIccs and modIhcd by thc vcIocIty
andthc dcvcIopmcnt oImcans ofpaymcnt.1othIs mustnowbc addcd
arcscrvcIundahoard)thatwIIIpcrmItHcxIbIIItyIntImcsoIHuxz(c).
IncontcmporarycondItIons,oIcoursc,thIsrcscrvcIundIsnotprIvatcIy
hcId but IIcs wIthIn thc prcrogatIvc oIa pubIIc InstItutIon,whIch In thc
USIsapproprIatcIydcsIgnatcdthccdcraIRcscrvc.)
Jc hnaI subscctIon oIthIs chaptcr dcaIs wIth worId moncy. 1o work
chcctIvcIy, any monctary systcm, as wc havc sccn, rcquIrcs a dccp
partIcIpatIononthcpart oIthc statc asarcguIatoroIcoIns andsymboIs
and ovcrsccroIthc quaIItIcs andquantItIcs oImoncy and InourtImcs
asmanagcrofthcrcscrvcfund).IndIvIduaIstatcstpIcallymanagcthcIr
ownmonctarysystcmInapartIcularwayandcancxcrcIscagrcatdcaIof
dIscrctIonInsodoIng.JcrcIsstIIIaworIdmarkct,howcvcr,andnatIonaI
monctarypoIIcIcs cannotcxcmptstatcsIromthcdIscIpIInarychcctsthat
How Irom commodItycxchangc across thc worId markct. SowhIIc thc
statcmaypIay acrItIcaIroIc Inthc stabIIIzatIon ofthcmonctarysystcm
wIthIn Its gcopoIItIcaI bordcrs,It Is ncvcrthcIcss conncctcdto thcworId
markct and subjcct to Its dynamIcs. Marx poInts to thc roIc pIaycd by
prccIous mctaIs, goId and sIIvcr bccamc,as It wcrc, thc //ngua ]ranca of
thcworIdhnancIaIsystcm.1hIsmctaIIIcbascwasvItaIbothdomcstIcaIIy
andIncxtcrnaIIntcrnatIonaI)rcIatIonsz(-]).
So thc sccurIty oI thIs mctaIIIc basc andthc moncyIorms coIns,
In partIcuIar) dcrIvcd from It bccamc crItIcaI togIobaIcapItaIIsm. H Is
8z A COMPANION TO MARX
' S CAP7AI
IntcrcstIngtonotcthatatthcsamctImcasJohnLockcwasurgIngrcIIgIous
toIcrancc, condcmnIng thc practIcc ofburnIng hcrctIcs at thc stakc,hIs
cIosc coIIcaguc IsaacMcwtonwasbcIngcaIIcdontodcfcndtoquaIItyof
moncys asmastcrofthcRoyaIMInt.Hchadto faccthcprobIcmofthc
dcbascmcntofthccurrcncythroughthcpractIccofshavIngsomcofthc
sIIvcrohsIIvcrcoIns to makc morc coIns ancasywayto makc moncy,
whcnyou thInkaboutIt).ConvIctcdcoIn-cIIppcrswcrcpubIIcIyhungat
1yburnohcnccs agaInst Godwcrc to bc forgIvcn,but ohcnccs agaInst
capItaIandmammondcscrvcdcapItaIpunIshmcnt!
SothIsbrIngsustothcprobIcmofhowrcIcvantMarx'sargumcntsarc
InaworIdwhcrcthchnancIaIsystcmworkswIthoutamoncycommodIty,
wIthout a mctaIIIcbasc,as has bccn tc casc sIncc 1y)1. You wIII notIcc
thatgoId Is stIIIImportantandpcrhapswondcr,InthcsctroubIcdtImcs
of roIIcd IntcrnatIonaI currcncy arct, hcthcr you ant to hoI
goId,doIIars,curosorycn.SogoIdhasnotcntIrcIydIsappcarcdfromthc
sccnc, and thcrc arc somc who arguc for a rcturn to somc vcrsIon ofa
goIdstandardto countcractthc InstabIIItIcs andthc chaotIc spccuIatIon
that ohcn troubIc IntcrnatIonaI hnancIaI transactIons. 1hc goId, rccaII,
Is sImpIy dcpIctcd by Marx as a rcprcscntatIon of vaIuc, of socIaIIy
ncccssaryIabor-tImc.AIIthathashappcncdsIncc1y)j Isthatthcmanncr
ofrcprcscntatIonhaschangcd.8utMarxhImscIfaIsonotcsmuItIpIcshIhs
In rcprcscntatIonaI formswIthcoIns,papcrmoncys,crcdIt andthcIIkc,
soInawaythcrcIsnothIng Inthccurrcnt sItuatIon that dcncshIsmodc
ofanaIysIs.Whathashappcncd,Inchcct,IsthatthcvaIucofapartIcuIar
currcncy vIs--vIs aII othcr currcncIcs Is or shouId bc) dctcrmIncd In
tcrms ofthcvaIuc ofthctotaIbundIc ofcommodItIcs produccdwIthIn
anatIonaIcconomy.PIaInIy,thcovcraIIproductIvItyofawhoIccconomy
Is an Important varIabIc In aII thIs, hcncc thc cmphasIs pIaccd on
productIvItyandcmcIcncyInpubIIcpoIIcy.
Mow, Ifwc stIck wIth Marx's IogIc, wc shouId ImmcdIatcIy obscrvc
thccontradIctIonsthatdcrIvcfromthIssItuatIon.1obcgInwIth,thcrcIs
thc hctIon ofa natIonaI cconomythat matchcs thc"natIonaI unIforms"
ofnatIonaI moncys. Such an cconomy Is an "IdcaI'a hctIon madc rcaI
by coIIcctIng vast amounts of statIstIcs on productIon, consumptIon,
cxchangc,wcIfarc and thc IIkc.1hcsc statIstIcs arc crucIaIforcvaIuatIng
thcstatcofanatIonandpIayanImportantroIcInahcctIngcxchangcratcs
bctwccncurrcncIcs.WhcnthcstatIstIcsonconsumcrconhdcnccandjobs
Iookgood,thccurrcncyrIscs.Jcsc data actuaIIy constructthchctIon
MONEY 8
oIa natIonaI cconomy whcn rcaIIy thcrc I sno such thIng, I nMarx's
tcrms,ItIsaIctIshconstruct.8utthcnpcrhapsspccuIatorsmaycntcr and
chaIIcngcthcdatamuchoIwhIchIsorganIzcdonprcttyshakygrounds)
or suggcstthat somc IndIcators arc morc Important than othcrs, and II
thcy can prcvaII thcn thcy can makc mcgabucks bcttIng on currcncy
movcs.ForcxampIc,GcorgcSorosmadcabIIIIondoIIarsInaIcwdaysby
bcttIngagaInstthc 8rItIshpound In rcIatIon to thc uropcan xchangc
RatcMcchanIsm,byconvIncIngthcmarkctthathchadthcbcttcrvIcwon
thcnatIonaIcconomy.
What Marx has buIIt Into hIs modc oI anaIysIs Is a pcrsuasIvc way
to undcrstand thc Iraught and probIcmatIc IInk bctwccn vaIuc thc
socIaIIy ncccssaryIabortImc congcaIcd In commodItIcs) and thc ways
In whIch thc monctarysystcmrcprcscntsthatvaIuc.Hc unpackswhatIs
hctItIous and ImagInary about thoscrcprcscntatIons and thcIrrcsuItIng
contradIctIons,whIIc showInghow,ncvcrthcIcss,thc capItaIIst modc oI
productIon cannot IunctIon wIthout thcsc IdcaI cIcmcnts. Wc cannot
aboIIshthcIctIshIsm,ashccarIIcrpoIntcdout,andwcarccondcmncdto
IIvcInatopsy-turyworIdoImatcrIaIrcIatIonsbctwccnpcopIcandsocIaI
rcIatIons bctwccnthIngs.1hcwayIorward Isto advancc thc anaIysIs oI
thc Inhcrcnt contradIctIons,to undcrstand thc way thcy movc andthc
waysthcyopcn up ncwpossIbIIItIcsIordcvcIopmcnt as wIththccrcdIt
systcm) as wcII as thc potcntIaI Ior crIscs. Marx's mcthod oIInquIry, It
sccmsto mc,IscxcmpIarycvcnaswchavcto adapt Ittoundcrstandour
currcntpcrIIoussItuatIon.
OnchnaIpoInt.1hIschaptcronmoncyIsrIch,compIIcatcdandhard
toabsorbonhrstrcadIng.ForthIsrcason,asIbcganbyrcmarkIng,many
Q60Q6 gIV6 uQ 0H C/||Dj Ch8Q!6I ]. h0Q6 j0u h8V6 0uHd 6H0ugh
thatIsIntrIguIngtostaywIthIt.8utyouwIIIaIsobcgIadtoknowthatyou
do not havc to undcrstand cvcrthIng In thc chaptcr In ordcr to movc
on. Much oIwhat Is saId hcrc Is morc rcIcvant to Iatcr voIumcs than to
thcrcstoIVoIumc I. ArmcdwIth somcbasIc,butcsscntIaI,proposItIons
IromthIs chaptcr,It Is possIbIc to grasp thc rcst oIthcmatcrIaIwIthout
toomuchdImcuIty.FromhcrconIn,thcargumcntbccomcsmuchcasIcr.
CHAPTER THREE
tOm L8
[
!8 JO L8OOt-!OWCt
Wc nowtakc on thc thrcc chaptcrs dcaIIng wIth thc conccpts ocapItaI
and oI Iabor-powcr. Jcsc chaptcrs, I thInk you'II hnd, arc much morc
straIghtIorwardandcIcarthanthoscwchavcbccnthrough.JcrcarctImcs
whcnthcysccmaImostobvIous,oncwondcrssomctImcswhywcarcbcIng
trcatcd to such cIaboratc dIscussIons oI IaIrIy sImpIc Idcas, partIcuIarIy
whcnIncarIIcrchaptcrssuch dImcuItIdcaswcrcprcscntcdaImostwIthout
cxpIanatIon. 1o somc dcgrcc thIs Is a product oIthc pcrIodwhcn Marx
was wrItIng. Anyonc Intcrcstcd In poIItIcaI cconomy at that tImc wouId
havc bccn IamIIIar wIth thc Iabor thcory oI vaIuc aIbcIt In RIcardIan
Iorm),whcrcaswc notonIyarc unIamIIIarwIth ItbutIIvcIn tImcs whcn
most cconomIsts,andcvcn somc MarxIsts, consIdcr It IndcIcnsIbIc.Wcrc
MarxwrItIng Ca//a| today, hcwouIdhavctoohcra strongdcIcnscoIIt
rathcrthansImpIystatcItasobvIous.8ycontrast,thcmatcrIaIscovcrcdIn
thcscIoIIowIngchaptcrswcrcmorcradIcaIdcparturcs IromconvcntIonaI
thoughtInMarx'stImc,butappcarIarmorcIamIIIartoustoday.
Wc arc, howcvcr, undcrtakIng a macrotransItIon In thc argumcnt`s
IocatIonInthcscthrcc chaptcrs,andItIsuscIuIto notc thIs atthcoutsct.
Ca//a| starts out wIth a modcI oI cxchangc bascd on thc bartcr oI
commodItIcs,InwhIch Itwas unrcaIIstIcaIIy) ImagIncdthat cquIvaIcnt
socIaIIyncccssaryIabor-tImcswcrc bcIng cxchangcd. Marx thcn movcs
I0m !hIS L-L I68!I0H !0 6X8mIH6 h0W 6XCh8Hg6S g6! m6dI8!6d nd
gcncraIIzcd through thc rIsc oIthcmoncyIorm.CarcIuIanaIysIsoIthIs
LML cxchangc systcmbrIngs us at thc cnd oIthc moncy chaptcr to
IdcntI|thcM-C-MIormoIcIrcuIatIon,InwhIchmoncybccamcthcaIm
andobjcctoIcxchangc.InthcCM-CcIrcuIt,ancxchangcoIcquIvaIcnt
vaIucs makcs scnscbccausc Its aIm Is to acquIrc usc-vaIucs. I want thc
shIrtsandthc shocsbutdonotnccdorwantthcappIcsandpcars Ihavc
produccd. 8ut whcn It comcs to M-CM, thc cxchangc oI cquIvaIcnts
sccms absurd.Whygo throughaIIthctroubIcandrIskoIthIsproccssto
cndupwIththcsamcamountoImoncy-vaIucatthccndM-C-MonIy
makcs scnsc IIIt rcsuItsIn an IncrcmcntoIvaIuc,M-C-M M,tobc
dchncdassurpIus-vaIuc.
8 A COMPANION TO MARX
'
S CAPI7AI
JIsraIscsthcqucstIon.whcrccanthIssurpIus-vaIuccomcIromwhcn
thc Iaws oIcxchangc, MC and thcn C-M,as prcsupposcd In cIassIcaI
polItIcaI cconomy, mandatc an cxchangc oIcquIvalcnts IIthc laws oI
cxchangcarctobcobscrvcdasthcthcorystatcs,thcnacommodItymust
bc Ioundthat has thc capacItyto producc morcvaIucthan It ItscIIhas.
JatcommodIty,MarxsaysInchaptcr6, IsIabor-powcr.JIsIsthcbroad
transItIonaI storytoId In thcsc thrcc chaptcrs.1hcIocus bcgIns to shIh
IromcommodItycxchangctocapItaIcIrcuIatIon.
1hcrc Is, howcvcr, onc Important Icaturc In thcsc chaptcrs that
dcscrvcs somc prclImInaryscrutIny. ScvcraI tImcs aIrcady I havc askcd
whcthcrMarxIs makIng aIogIcaI argumcnt bascdonacrItIquc oIthc
utopIanproposItIonsoIcIassIcaIIIbcralpoIItIcaIcconomy)orahIstorIcal
argumcntaboutthccvoIutIonoIactuaIlycxIstIngcapItaIIsm.8yandIargc
I havc prcIcrrcd thc IogIcaI rcadIng to thc hIstorIcaI onc, cvcn though
thcrc maybc Important hIstorIcal InsIghts to bc gaIncd In consIdcrIng
thc cIrcumstanccs ncccssary to IacIIItatc thc rIsc oI a capItaIIst modc
oIproductIon such as thcworkoIthc statcInrclatIonto thc dIhcrcnt
moncy-Iorms). 1hIs manncr oIapproach wouId bc consIstcnt wIth thc
mcthodoIogIcaIargumcnthcmakcscIscwhcrc,thatwccanonIypropcrIy
undcrstand hIstorybyIookIngbackard Irom whcrcwc arc today. JIs
washIskcypoIntInthcCrundr/ssc:
8ourgcoIssocIctyIsthcmostdcvclopcdandthcmostcompIcxhIstorIcal
organIzatIon oI productIon. 1hc catcgorIcs whIch cxprcss Its rclatIons,
thc comprchcnsIon oIIts structurc,thcrcbyaIsoaIIowsInsIghts Into thc
structurcandrcIatIonsoIproductIonoIallthcvanIshcdsocIalIormatIons
out oI whosc ruIns and clcmcnts It buIlt ItscII up, whosc partly stIII
unconqucrcdrcmnantsarccarrIcdalongwIthIn It,whoscmcrc nuanccs
havc dcvclopcd cxplIcIt sIgnIhcancc wIthIn It, ctc. uman anatomy
contaIns akcytothcanatomyoIthcapc.
8utwhIIc"thcIntImatIonsoIhIghcrdcvcIopmcnt. . . canbcundcrstood
onIy ahcr thc hIghcr dcvcIopmcnt Is aIrcady known' thIs shouId not
dcIudcusIntosccIngthcprototypcsoI "bourgcoIsrcIatIonsInaIIIormsoI
socIcty"orthInkIng"thatthccatcgorIcsoIbourgcoIscconomIcsposscss
a truth Ior aIIothcr Iorms oI socIcty Marx docs not acccpt a WhIg
!. Marx, Grundr::c, !05.
2. !bid
FROM CAPITAI TO LA8ORPOWER
IntcrprctatIonoIhIstoryora sImpIctcIcoIogy. 1hcbourgcoIsrcvoIutIon
IundamcntaIIy rcconhgurcd prccxIstIng cIcmcnts Into IundamcntaIIy
ncwIorms,atthcsamctImcaIIowIngustosccthoscprccxIstIngcIcmcnts
InancwIIght.
CHAPTER : THE GENERAL FORMULA FOR CAPITAL
Inthcscthrccchaptcrs,thcrcadIngoIhIstorysccmstohavcanImportant
Indcpcndcnt roIc to pIay In thc thcorIzIng. Hc starts oh chaptcr (, Ior
cxampIc,wIthahIstorIcaIstatcmcnt."WorIdtradc and thc worIdmarkct
datcIromthcsIxtccnthccntury,andIromthcnonthcmodcrnhIstoryoI
capItaIstartstounIoId'1hcIogIcaIstartIngpoIntIsgIvcnInthcparaIIcI
statcmcntthat"commodItycIrcuIatIonIsthchrstIormoIappcaranccoI
capIta z(;). So thc IogIcaI and hIstorIcaI argumcnts arc ImmcdIatcIy
juxtaposcd.Wc nccd, thcrcIorc, to pay carcIuI attcntIon to how thcsc
argumcntsworktogcthcrInthcscchaptcrsInordcrtoundcrstandhow
thc mcthodoIogIcaIprcscrIptIons sct out In thc Crundr/ssc arcputInto
practIccInCa//a/.
Marx bcgIns by cxamInIng how capItaI hIstorIcaIIy conIrontcd thc
powcroIIandcdpropcrtyInthctransItIonIromIcudaIIsmtocapItaIIsm.
InthIstransItIon,mcrchants'capItaIandusurcrs'capItaI-spccIhcIorms
oIcapItaI-pIaycdanImportanthIstorIcaIroIc.8utthcscIormsoIcapItaI
arc dIhcrcnt Irom thc "modcrn" IndustrIaI Iorm oI capItaI that Marx
consIdcrs ccntraI to a IuIIy dcvcIopcd capItaIIst modc oI productIon
z(;).Jc dIssoIutIon oIthc IcudaI ordcr,thc dIssoIutIon oIthc powcr
oIIandcdpropcrtyandoIIcudaIIandcontroI,wasIargcIyaccompIIshcd
through thc powers ot mcrchantcapItaIand usury.1hIs Is athcmcyou
ndstrongyarticuIatcd aso inthc Cnmmun/;|Man(fcsto. IntcrcstingIy,
It'sahIstorythatassumcsaIogIcaI pIacc In Ca//a/, bccauscwhatwcscc
Inusurcrs'capItaIInpartIcuIarIsthcIndcpcndcntsocIaIpowcroImoncy
and oIthcmoncyhoIdcrs), an Indcpcndcnt powcrthathc showcd In
thcmoncychaptcr to bc socIaIIyncccssarywIthIn a capItaIIst modc oI
productIon.H IsthroughthcdcpIoymcntoIthIsIndcpcndcntpowcrthat
usuryandthcusurcrshcIpcdbrIngIcudaIIsmtoItsnccs.
1hIsbrIngshImbacktothcstartIngpoIntIor undcrstandIngthcroIc
oI moncy as opposcd to thc commodIty) In thc cIrcuIatIon proccss.
MoncycanbcuscdtocIrcuIatccommodItIcs,Itcanbcuscdtomcasurc
vaIuc,to storcwcaIth and so on. CapItaI,howcvcr, Is moncy uscd In a
QO A COMPANlON TO MARX'S CAPI7AI
"unccasIngmovcmcntoIproht-makIng"(z,). 1hIssoundsIIkcthcpIot
oI8aIzac'sugcn/c Crandct|
TIsboundIcss drIvc Ior cnrIchmcnt,thIspassIonatcchascacrvaluc,Is
common to thc capItalIst and thc mIscr, but whIlc thc mIscr Is mcrcIy
a capItaIIst gonc mad, thc capItalIst Is a ratIonal mIscr. 1hc ccasclcss
augmcntatIon of valu, whIch thc mIscr sccks to attaIn by saving hIs
moncyfromcIrculatIon,IsachIcvcdbythcmorcacutccapItalIstbymcans
ofthrowInghIsmoncyagaInandagaInIntocIrculatIon.(z,|)
CapItaIIs,thcrcIorc,vaIucInmotIon.8utItIsvaIuc-In-motIonthatappcars
In dIhcrcnt Iorms."IIwc pIn down thc spccIhc Iorms oIappcarancc"-
notIcc thIs phrasc agaIn-"assumcd In turn by scII-vaIorIzIngvaIuc In
thccourscoIItsIIIc,wcrcachthcIoIIowIngclucIdatIoncapItaIIsmoncy,
capItaIIscommodItIcs"(z,,). Marxnowmakcsthc proccss dchnItIonoI
capItaIcxpIIcIt.
In truth, howcvcr,vaIuc Ishcrcthc subjcct oIaproccss In whIch,whIIc
constantIy assumIng thc Iorm In turn of moncy and commodItIcs,
It changcs Its own magnItudc, throws oh surpIus-vaIuc Irom ItscIf
consIdcrcdas orIgInaIvaIuc,andthusvaIorIzcs ItscIIIndcpcndcntIy. For
thc movcmcnt In thc coursc ofwhIch It adds surpIus-valuc Is Its own
movcmcnt, Its vaIorIzaton Is thcrcIorc sclf-vaIorIzatIon . . . 8y vIrtuc of
bcIngvaIuc,IthasacquIrcdthcoccuItabIIItytoaddvaIuctoItscII.ItbrIngs
IorthIIvIngohsprIng,oratIcatIaysgoIdcncggs.(z,,)
OIcoursc, Marx Is bcIng hcavIIy IronIc hcrc. I mcntIon thIs bccausc I
onccrcadadIsscrtatIonthattookthcmagIcaIquaIItIcsoIscII-cxpansIon
ascrIbcdtocapItaIscrIousIy. InthIsdcnsctxt,ItIsohcnrathcrtoocasy
tomIssthcIrony.InthsInstancc,thc"occuIt"quaIItIcs oIcapItaIandIts
sccmIngIymagIcaIcapacItytoIay"goIdcncggs"cxIstonIyInthcrcaImoI
appcarancc.8utIt Isnothard to scchowthIs IctIshconstructcouIdbc
takcn Ior rcaIa capItaIIst systcm oIproductIon dcpcnds on thIs vcry
hctIon,aswc sawInhaptcr:.YouputmoncyIn asavIngsaccount,and
at thc cndoIthcycarIthas grown. DoyoucvcraskyourscIIwhcrc thc
growthcamcIromJctcndcncyIstoassumcthatthIscxpansIonsImpIy
bcIongstothcnaturcoImoncy.Wchav,oIcoursc,sccnpcrIodswhcnthc
savIngs ratchas bccn ncgatIvc,c.,whcn InIIatIonhas bccn sohIghand
IntcrcstratcssoIowthatthcnctrcturntothcsavcrhadbccnncgatIvc as
FROM CAPITAI TO LA8OR-POWER
pt
Isthccascnow,Inzoo8). 8utItdocsrcaIIyappcarasIIyourmoncyInthc
bankInhcrcntIygrowsatthcratcoIIntcrcst.MarxwantstoknowwhatIs
hIddcnbchIndthcIctIsh.1hIsIsthcmystcrythathastobcsoIvcd.
1hcrcIs,hcsays,oncmomcntInthIscIrcuIatIonproccssthatwcaIways
comcbackto and that thcrcIorc appcarsto bc morc Important than thc
othcrs, and that Is thc moncy momcnt. M-M. Why 8ccausc moncy Is
thcunIvcrsaIrcprcscntatIonanduItImatcmcasurcoIvaIuc.HIsthcrcIorc
onIyatthcmoncymomcnt-thcmomcntoIcapItalIstunIvcrsaIItythat
wccantcIIwhcrcwcarcInrcIatIontovaIucandsurpIus-vaIuc.!t'shardto
tcIIthatjustIookIngatthcpartIcuIarItyoIcommodItIcs."Moncythcrcforc
IormsthcstartIng-poIntandthcconcIusIonofcvcryvaIorIzatIonproccss"
(z,,). !nMarx's cxampIc,thcconcIusIonshouIdyIcId::oIromthc :oo
thccapItaIIststartcdoutwIth.
Tc capItalIstknows that aII commodItIcs, howcvcr tattcrcd thcy may
Iook,orhowcvcrbadIy thcy may smcII, arc In faIth and In truth moncy,
arc bynaturccIrcumcIscdcws,and,what Is morc,awondcrfulmcansfor
makIngstIIImorcmoncyoutofmoncy.(z,6)
RcmarksoIthIssorthavcbccngrIstIor asIgnIhcantdcbatcovcrMarx's
supposcd antI-cmItIsm. !t Is Indccd pcrIcctIy truc that thcsc kInds
oI phrascs crop up pcrIodIcaIIy. Jc contcxt oI thc tImc was onc of
wIdcsprcadantI-cmItIsm c.g.,thcportrayaIoIFagInInDIckcns'sO//vcr
!w/st) . o you can cIthcr concIudc that Marx, comIng Irom a JcwIsh
IamIIythatconvcrtcdIorjob-hoIdIngrcasons,was subconscIousIygoIng
agaInst hIs past or unthInkIngIycchoIng thc prcjudIccs oIhIs tImc, or,
at Icast In thIs casc, you can concIudc that hIs Intcnt Is to tac alI thc
opprobrIumthatwastypIcalIycastoncwsandtosaythatItrcaIIyshouId
bc assIgncd to thc capItaIIst as a capItaIIst.!wIIIIcavcyou to your own
concIusIonsonthat.
8ack In thc tcxt wc hnd Marx stIII chIppIng away at thc IctIshIstIc
surIaccappcarancc.
8ut now, In thc cIrcuIatIon M -C-M, valuc suddcnIyprcscnts Itsclfas a
sclf-movIngsubstanccwhIchpasscsthroughaproccssofItsown,andfor
whIch commodItIcs and moncy arc both mcrc forms. 8ut thcrc Is morc
to comc Instcad ofsImpIyrcprcscntIngthc rcIatIons ofcommodItIcs,It
nowcntcrs IntoprIvatcrclatIonshIpwIthItsclf,asItwcrc.HdIcrcntIatcs
Q2 A COMPANION TO MARX'
S CAPI7AI
ItscIfasorIgInaIvaIucfrom ItscIfassurpIus-vaIuc,justasGodthcathcr
dIcrcntIatcshImscIffromhImscIfasGodthcon. . . Valucthcrcforcnow
bccomcsvalucinproccss,moncyinproccss,and,assuch,capItal.(z,6)
Jat's thc ncxt stcp In thc fundamcntaI dcnItIon ofcapItaI.vaIuc In
proccss, moncy In proccss.And how dIhcrcnt thIs Is from capItaI as a
xcd stock of asscts or a factor ofproductIon. Yct It Is Marx, not thc
cconomIsts, who gcts crItIcIzcd for supposcdIy statIc "structuraI"
formuIatIons! ) CapItaI "comcs out of cIrcuIatIon, cntcrs Into It agaIn,
prcscrvcs and muItIpIIcs ItscIfwIthIn cIrcuIatIon, cmcrgcs from It wIth
an Incrcascd sIzc, and starts thc samc cycIc agaIn and agaI' (z,6). Jc
powcrfuIscnscofHowIspaIpabIc.CapItaIIsproccss,andthatIsthat.
Marx brIcHy rcturns to mcrchants' capItaI and usurcrs' capItaI hIs
hIstorIcaI,rathcrthanIogIcaI,startIngpoInt).WhIcIndustrIaIcapItaIIswhat
h6 IS I68Bj C0HC6IH6d WI!h, h6 h8S !0 I6C0gHI26 !h8! !h6I6 8I6 !h6S6 0!h6I
formsofcIrcuIatIonmcrchants'capItaIbuyIngchcapInordcrtoscIIdcar)
and Intcrcst-bcarIng capItaI,throughwhIch a sccmIng scIf-cxpansIon of
vaIuccanaIsobcaccompIIshcd.SowcsccdIhcrcntpossIbIIItIcs.IndustrIaI,
mcrchantandIntcrcst-bcarIngcapItaI,aofwhIchhavcthcM-C-M M
formofcIrcuIatIon.1hIsformofcIrcuIatIon,hcconcIudcs,Is"thcgcncraI
formuIaforcapItaI,InthcformInwhIchItappcarsdIrcctIyInthcsphcrcof
cIrcuIatIo'(z,;). H IsthIsformofcIrcuIatIonthathastobcputundcrthc
mIcroscopcandscrutInIzcdInordcrtodcmystI|Its"occuIt"quaIItIcs.So.
docscapItaIIayItsowngoIdcncggs
CHAPTER j. CONTRADICTI ONS IN THE GENERAL FORMULA
MarxbcgInsthcscarch forananswcrbycxamInIngthccontradIctIons
wIthInthcM-C-M MformofcIrcuIatIon.JcfundamcntaIqucstIon
IsquItcsImpIythIs.whcrc docs thc Incrcmcnt,thc surpIus-vaIuc, comc
fromJcruIcsandIawsofcxchangcInthcIrpurcformasprcsupposcd
In utopIan IIbcraIIsm) saythcrc has to bc a ruIc ofcquIvaIcncc In thc
transItIonsfromMto CandInCtoM. SurpIus-vaIuc cannot,thcrcforc,
bc dcrIvcd fromcxchangc InItspurcform."WhcrccquaIItycxIststhcrc
Is notgaIn' !n practIcc, ofcoursc,"It Is truc that commodItIcs maybc
soIdatprIccswhIchdIvcrgcfromthcIrvaIucs,butthIsdIvcrgcnccappcars
as anInfrIngcmcntofthcIawsgovcrnIngthccxchangcofcommodItIcs'
1hcsc Iaws arc thosc prcsupposcd In thc cIassIcaI poIItIcaI-cconomIc
FROM CAITAL TO LAOR~OWR Q]
modcI oIpcrfcctIyfunctIonIngmarkcts."!nItspurc Iorm,thc cxchangc
oIcommodItIcsIsancxchangcofcquIvaIcnts,andthusItIsnotamcthod
oIIncrcasIngvaIuc"z6c-).
Faccd wIth thIs conundrum, thc capItaIIsts and thcIr cconomIsts,
IIkcCondIIIac,trIcd to attrIbutc thc Incrcasc to thc hcId oIuscvaIucs.
8ut Marx rcjcctsthIs.YoucantsuddcnIyappcaIto usc-vaIucs to curc a
probIcmthatdcrIvcsIromthccquIvaIcnccoIcxchangc-vaIucs.
IfcommodItIcs,orcommodItIcsandmoncy,ofcquaIcxchangc-vaIuc,and
conscqucntIycquIvaIcnts,arc cxchangcd,ItIs pIaIn that no onc abstracts
morc vaIuc from cIrculatIon than hc throws Into It. Thc formatIon of
surpIus-valucdocsnottakcpIacc.InItspurcform,thccIrcuIatIonproccss
ncccssItatcsthccxchangcofcquIvaIcnts.(z6z)
8utMarxknowsIuIIwcIIthat"InrcaIItyproccsscsdonottakcpIaccInthcIr
purcIorm"sohcthcngocsonto"assumcancxchangcoInon-cquIvaIcnts'
ThIs gIvcs rIsctoanumbcroIpossIbIIItIcs.Foronc,thcscIIcrhas"somc
IncxpIIcabIcprIvIIcgc . . . to scIIhIs commodItIcs abovcthcIrvaIuc'8ut
thIsdocsntwork,whcnyoustarttothInkaboutthcrcIatIonshIpbctwccn
buycrs andscIIcrsIngcncraIIzcdmarkcts,anymorcthanItworkstosay
thatthcbuycrhasaprIvIIcgctopurchasccommodItIcsbcIowthcIrvaIuc.
"ThcIormatIonoIsurpIus-vaIuc cannot bc cxpIaIncdbyassumIngthat
commodItIcsarcsoIdabovcthcIrvaIuc,'or"arcboughtat Icss than thcIr
vaIuc"z6z-]).
Hc thcn brIcHy consIdcrsthcprobIcm oIwhat wcnowcaII chcctIvc
dcmand,whIchwasatthctImcmaInIyartIcuIatcdbyMaIthus aIthough
it is surprising that arx docsn`t rctcrcncc aIthus's kcy tcxt on thc
mattcr, Pr/nc/|es o Po|/t/ca| Fconom)) (z6-,). Malthus argucd that
thcrcwas a dcnnItc tcndcncy toward a dchcIcncyoIaggrcgatc dcmand
In thc markct Ior thc surpIus commodItIcs that capItaIIsts producc In
ordcrtoprocurcsurpIusvaIuc.hohasthcpurchasIngpowcrtobuythc
commodItIcsThccapItaIIstsarcrcInvcstIng,sothcyarc notconsumIng
as much as thcycouId.Thcworkcrscannot consumc thctotaIItyoIthc
product, bccausc thcy arc bcIng cxpIoItcd. So MaIthus concIudcd that
thcrcwasanImportantroIcIoracIass oIIandowncrs-orasMarxwouId
caIIthcm,bourgcoIsparasItcsofaIIkIndswhodIdthcbcncvoIcntthIng
oIconsumIngasmuchasthcycouIdInordcrtokccpthccconomystabIc.
MaIthusthcrcbyjustIhcdthcpcrpctuatIonoIanonproductIvcconsumIng
Q A COMPANION TO MARX' S CAPI7AI
cIass In thc Iacc oIthc RIcardIan crItIquc that aIso dIsmIsscd thcm as
nonproductIvcparasItcs).
MalthusmodIhcdhIsargumcntsomcwhatbysuggcstIngthatthIsclass
oIconsumcrscouIdaIsobcoutsIdcthcnatIonandthatIorcIgntradcand
cvcnIorcIgntrIbutcsIlvcrpaymcntstoanImpcrIaIpowcr,Ior cxampIc)
wouIdaIsohclpsoIvcthcprobIcm.JIslattcrIsoncoIRosaLuxcmburg's
major argumcnts, that thc ncccssary chcctIvc dcmand In a capItaIIst
systcm whIch shc Iclt Marx hadnt sumcIcntIy addrcsscd In Calta/)
uItImatcIy can onIybcguarantccdbycstabIIshIngsomc rcIatIonshIp to
thcoutsIdcInshort,byImposIngImpcrIaIIst cxtractIons oItrIbutc.Jc
8rItIsh ImpcrIaIIstIogIcthatIcdto thc OpIumWars rcIIcctcdthIs.thcrc
was aIotoIsIIvcrIn ChIna,so thc Idcawas to scIIIndIanopIum to thc
ChIncsc, gct aII that sIlvcout In thatIucratIvcsaIc,and thcrcbypayIor
aIIthcgoods thatwcrcbcIngproduccdInManchcstcrandscntto IndIa.
Whcnthc hincsc rcsistcd opcnIng thcIr doors tothc opium tradc,thc
8rItIshrcsponscwastoknockthcmdownwIthmIIItaryIorcc.
Marx dcIIvcrs ascathIngdIsmIssaI oIthc Idca thatthcrc Is a cIass oI
consumcrs somcwhcrc or othcr who gct thcIr vaIuc Irom God-knows
whcrc, and who can somchow gcncratc thc surpIus-vaIuc Irom wIthIn
or Irom outsIdc thc systcm oI capItaIIst socIaI rcIatIons. vcryonc cvcn
mcmbcrs oI thc parasItIc classcs) wIthIn capItaIIsm, hc says, has to gct
thcIrvaIuc Irom somcwhcrc, and IIthcy gct thcIrvaIuc IromwIthIn thc
systcmthcnItIsIromapproprIatIngvaIucsIromothcrs IIkccapItaIIstsor
workcrs) who arcrcsponsIbIcIor Its productIon.1hcprobIcmoIsurpIus
vaIucproductIon cannotbcsoIvcdbyappcaIto thcmarkct,andwc most
ccrtaInIycannotjustI|IorthIsrcasonthcpcrpctuatIonoIanonproductIvc
cIass oIconsumcrs.Mor,In thc Iongrun,can IorcIgntradcdo thc trIck,at
somcpoInt,thcprIncIpIcoIcquIvaIcncchastoprcvaII z6).
Jcsc passagcs on chcctIvc dcmand arc probIcmatIc In ccrtaIn
rcspccts,andRosaLuxcmburgprovIdcs acompcIIIngchaIIcngctoMarx
on thIs poInt, arguIng that ImpcrIaIIsm dIrcctcd agaInst noncapItaIIst
socIaI IormatIons provIdcd a partIaI answcr to thc chcctIvc dcmand
probIcm.1hcrchasbccndcbatcovcrthcscIssucscvcrsIncc.8utInthcsc
passagcsMarxIssImpIyconccrncdwIthhowsurpIus-vaIucIsproduccd,
notwIth how It mIght bc paId Ior and rcaIIzcd through consumptIon.
4. RosaLuxcmburg,1hc Accumu/u|on o[Cu|u/ (NcwYork.RoutIcdgc,2003),
I04-5.
FROM CAPJTAL TO LA8OR-POWER
9
,
1hcsurpIus-vaIuchastobcproduccdbcIorcItcanbcconsumcd,andwc
cannot appcaI to proccsscs oIconsumptIon In ordcr to undcrstand Its
productIon.
SothcscIdcasonchcctIvcdcmandcannotcxpIaInhowsurpIus-vaIuc
Is produccd,partIcuIarIy IIwc "kccp wIthIn thc IImIts oIthc cxchangc
oI commodItIcs, whcrc scIIcrs arc buycrs, and buycrs arc scIIcrs` Mow,
at hrst bIush thIs sccms an odd rcmark, gIvcn hIs carIIcr dIsmIssaI oI
Sas Iaw. Mor docs It sccm to hcIp whcn hc adds that "our pcrpIcxIty
may pcrhaps havcarIscnIromconccIvIng pcopIc mcrcIyas pcrsonIhcd
catcgorIcs,Instcad oI as IndIvIduaIs"(z6,), though wc wIII scc why hc
takcsthIspathshortIy.!tIshcrc,!thInk,thatwccncountcrarcaItcnsIon
InMarx'stcxtbctwccnhIsrcIIancconcrItIqucoIthcutopIantcndcncIcs
oIcIassIcaIpoIItIcaIcconomyandhIsdcsIrctoundcrstandandIIIumInatc
IorusthcnaturcoIactuaIIycxIstIngcapItaIIsm.MarxIs,Inchcct,sayIng
that wc havc to scck an answcr to thc surpIus-vaIuc orIgIn probIcm In
agcographIcaIIycIoscd andpcrIcctcdcapItaIIst modcoIproductIon, In
thatIdcaIstatc,appcaIstoparasItIccIasscs,consumcrIsmorIorcIgntradc
havctobcruIcdout.HcwIIIIatcrbccxpIIcItaboutthcscassumptIonsIn
Ca//a/, hcrc hc tacItIyInvokcs thcm by rcjcctIng aII cxtcrnaI soIutIons.
HcdIsmIsscschcctIvc-dcmandIssucsIngcncraIasIrrcIcvantatthIspoInt
InthcanaIysIsbccauschcrc,InVoIumcI,hcIsconccrncdwIthproductIon
aIonc. OnIyInVoIumc !!wIII hctakcup thc probIcms oIrcaIIzatIonoI
vaIucsInthcmarkctandthcworIdoIconsumptIon.
AII thIs ruIcs out anycxamInatIon at thIs poInt In thc anaIysIs oI
gcographIcaI cxpansIons, spatIaI hxcs, ImpcrIaIIsm and coIonIaIIsm
sociaIIy ncccssary to thc survivaI ot capitaIism. Hc simpIy assumcs a
pcrtcctcd and cIoscd capitaIist systcm, and it Ison thcsctcrmsaIoncthat
thc orIgIn oI surpIus-vaIuc Is to bc cxpIaIncd. WhIIc thIs assumptIon
rcstrIcts thc rangc oIhIs thcorctIcaI capacIty partIcuIarIywIth rcspcct
to undcrstandIng thc actuaI hIstorIcaI and gcographIcaI damIcs
oI capItaIIsm), It dccpcns and sharpcns hIs anaIysIs. As ! havc shown
cIscwhcrc-partIcuIarIyIn 1c L/m//s /c Ca//a/ andSaccs c] Ca//a/
thcscbroadcrqucstIonswcrcoIdccp conccrnto Marxwhcn hcsought
to addrcssthcgrandcrprojcctoIundcrstandIngthc statc,IorcIgntradc,
coIonIaIIsm andthc constructIonoIthcworIdmarkct.8ut at thIspoInt
5. OavidHarvcy,Suces c[Cui/uI: 1cwurds u Cri/icuI Gecgruh] (NcwYork.
RoutIcdgc,200)
Q A COMPANION TO MARX
'
S CAP7AI
InCa/ta|, hcIssolclyconccrncdtoshowthatthcproductIonoIsurplus
valuc cannot arIsc out oImarkctcxchangcrcgardlcssoIwhathIstorIcal
orgcopolItIcalcondItIonsmayprcvaIl. SomcothcrwayhastobcIound
tosolvcthccontradIctIonoIhowtoproduccanon-cquIvalcnccc.,thc
surplus-valuc)IromthccxchangcoIcquIvalcnts.
JIs adoptIon oI such a narrow Iocus also cxplaIns why Marx
momcntarIIy swItchcs to lookIng at IndIvIduals rathcr than socIalrolcs.
IndIvIdualscanIndccdbcstothcrsbyscllIngabovcvaluc,andthIsIndccd
can anddocshappcn a thctImc.8utwhcnlookcdat systcmIcallyand
In aggrcgatc socIal tcrms, thc chcct Is sImply to rob Pctcrto pay Paul.
AnIndIvIdualcapItalIstmaychcatanothcrandgctawaywIthIt,butthcn
somcbody'sgaInIssomcbodyclsc'sloss,andthcrcIsnoaggrcgatcsurplus
valuc.AwaymustthcrcIorcbcIound Ior allcapItalIststo gaIn surplus
Vdu0. A h0d!hj 0I I00Ij IuBC!I0BIBg 0C0B0Hj IS 0B0 IB WhICh d
capItalIstscarnastcadyandrcmuncratIvcratcoIproht.
owcvcr much wc twIst and turn, thc hnal conclusIon rcmaIns thc
samc. IIcquIvalcnts arc cxchangcd,no surplus-valuc rcsults,and IInon
cquIvalcnts arc cxchangcd,wc stIll havc no surplusvaluc . . . It can bc
undcrstood,thcrcIorc,why,InouranalysIsoIthcprImaryIormoIcapItal,
thc Iorm In whIch It dctcrmIncs thc cconomIc organIzatIon oI modcrn
socIcty,wchavc cntIrclylch out oI consIdcratIon Itswcll-known and so
tospcakantcdIluvIanIorms,mcrchants'capItalandusurcrs'capItaI(z66)
!tmayhavcbccnhIstorIcaIlytruc,as8camInrankIInobscrvcd,that"war
Isrobbcry,commcrccIschcatIng"(z6;). Clcarly,InthcorIgInsoIcapItaIIsm,
thcrcwasalotoIprcdatIon,Iraud,robbcryandstcalIngoIsurplus-vaIucs
Iromaroundthcworld.AndMarxdocsnotdcnythchIstorIcalsIgnIhcancc
oIthat.JcsamcapplIcstousurcrscapItaIcvcnInthcIaccoIlong-standIng
andInsomcInstanccsuItrastrIcttaboos agaInstchargIngIntcrcst.!slamIc
law,Iorcxamplc,IorbIdschargIngIntcrcst.ProbablynotsowcIIknown,but
upuntIlthcmId-nInctccnthccntury,thcCathoIcChurchhadaprohIbItIon
on chargIng Intcrcst, and thIs hadtrcmcndous sIgnIhcancc. or Instancc,
atthattImcIn rancc,conscrvatIvc CatholIcsohcncomparcdInvcstmcnt
houscstobordcllosandvIcwcdhnancIaIopcratIonsasaIormoIprostItutIon.
JcrcarcsomcgrcatpolItIcaIcartoonsIromthatcrathatsatIrIzcthIs.OncI
uscdInPar/s Ca/ta| c{Mcdcrn/t) dcpIctsayoungwomantryIngtocntIcc
thIsoldcrandquItchorrIhcdmanIntothIsInvcstmcnthousc,sayIng,"My
FROM CAPITAL TO LA8OR-POWER
p7
raIcofrcIurnIsgoodforwhaIcvcramounIyouwIshIoInvcsI.I'IIIrcaIyou
vcrygcnIIy'
SomcrchanI'scapIIaIandusurcrs'capIIaI (orInIcrcsI-bcarIngcapIIaI)
boIhhadImporIanIhIsIorIcaIroIcs.8uI,MarxconcIudcs,
in Ihc coursc of our InvcsIigaIion, we shaII hnd IhaI boIh merchanIs'
capIIaIandInIcrcsI-bcarIngcapIIaIarcdcrivaIivc forms,andaIIhc samc
Iime iIwiIIbecomecIearwhy,hisIoricaIIy,Ihesetwo formsappearbefore
IhemodcrnprimaryformofcapIIa(z6;)
1cscformsofcapIIaIcIrcuIaIIon,hcIssayIng,hadahIsIorIcaIcxIsIcncc
bcforcIndusIrIaIcapIIaIarrIvcdonIhc sccnc. 8uI,aswc'IIscc,IndusIrIaI
capIIaI Is goIng Io bc thc form ofcapIIaI IhaI dchncs a capIIaIIsI modc
ofproducIIonInIIspurcsIaIc.AndonccIhaIIndusIrIaIcapIIaIbccomcs
domInanI,IInccdsIhcmcrchanIIoscIIIhcproducI,andIInccdsInIcrcsI-
bcarIng capIIaIIobc abIcIo swIIchInvcsImcnIsaroundIodcaIwIIhIhc
probIcms ofIong-Icrm hxcd capIIaIInvcsImcnIand so on.In ordcr for
IhaIIohappcn,IhcprImaryformofcapIIaIcIrcuIaIIonhasIosubducboIh
hnancccapIIaIandmcrchanIs'capIIaIIoIIsparIIcuIarnccds.InVoIumc
III ofCa/ta|, MarxwIIIIakc up Ihc qucsIIonofhowIhIs happcncd and
wIIhwhaIconscqucnccs.
FromourprcscnIpcrspccIIvcIIIsImporIanIIocvaIuaIcIhcposIIIonaIIIy
ofmcrchanIs' and InIcrcsI-bcarIng capIIaI wIIhIn capIIaIIsm In gcncra
CcrIaInIy a pIausIbIc casc can bc madc IhaI Ihcy wcnI from bcIng
hcgcmonIcanddomInanIIn Ihc sIxIccnIh and scvcnIccnIh ccnIurIcs Io
bccomIngsubscrvIcnIIoIndusIrIaIcapIIaIdurIngIhcnIncIccnIhccnIury.
8uI many wouId now argue-myseIfincIuded-IhaInance capiIaI has
becomedominanIagain,parIicuIarIysinceIhe:,;os. Ifso,iIisupIousIo
asscsswhaIIhIsmcansandwhaIIIporIcnds.
1IsIsnoIamaIIcrwc canIakcup hcrc,howcvcr. Forourpurposcs,
whaIIsImporIanIIonoIcIsIhaIMarxprcsumcd(andIhIswasprobabIy
corrccI aIIhc IImc) IhaI Ihc cIrcuIaIIon ofcapIIaI In IIs IndusIrIaI form
hadbccomc hcgcmonIc,andIhcrcforcIIwaswIIhInIhaIframcworkIhaI
IhcqucsIIonofsurpIus-vaIucproducIIonhadIobcrcsoIvcd.HcIhcrcforc
concIudcs.
6. OavdHarvcy,Pur:. Cu/u/ o[Nodcrn/] (NcwYork.RoutIcdgc,2003), I I9.
8 A COMPANION TO MARX
'
S CAPI7AI
CapIIaIcannoIIhcrcforcarIscfromcIrcuIaIIon,andII IscguaIIyImpossIbIc
for II Io arIsc aparI from cIrcuIaIIon. H musI havc IIs orIgIn boIh In
cIrcuIaIIonandnoIIncIrcuIaIIon. . . WcIhcrcforchavcadoubIc rcsulI . . .
TcIransformaIIonofmoncyInIocapIIaIhasIobcdcvcIopcdonIhcbasIs
ofIhcImmancnIIaws ofIhccxchangcofcommoIIIcsInsuchawayIhaI
IhcsIarIIng-poInIIsIhccxchangcofcguIvaIcnIs.Tcmoncy-owncr,who
IsasycIonIyacapIIaIIsIInIarvaIform,musIbuyhIscommodIIIcsaIIhcIr
vaIuc,scIIIhcmaIIhcIrvaIuc,andycIaIIhccndofIhc proccsswIIhdraw
morc vaIuc from cIrcuIaIIon Ihan hc Ihrcw InIo II aI Ihc bcgInnIng. HIs
cmcrgcncc asabuIIcrymusI,andycImusInoI,IakcpIaccIn Ihc sphcrc
ofcIrcuIaIIon. 1hcsc arc Ihc condIIIons ofIhc probIcm.HI hodus,hI
saIIa (z6-,)
WhIhInrough,coIIoguIaIIransIaIIonmcans,"HcrcIsIhcbaII,nowrun
wIIhII'
CHAPTER 6. THE SALE AND PURCHASE OF LABOUR-POWER
1cconIradIcIIonIurnsouIIobccasyIorcsoIvc.H IsgIvcn awayInIhc
IIIIcofIhIschapIcr.MarxscIsIhcargumcnIupasfoIIows.
ordcrIo cxIracIvaIuc ouIofIhcconsumpIIon ofacommodIIy, our
frIcnd Ihc moncy-owncr musI bc Iucky cnough Io hnd wIIhIn Ihc
sphcrc of cIrcuIaIIon, on Ihc markcI, a commodIIy whosc usc-vaIuc
posscsscsIhcpccuIIarpropcrIyofbcIng asourccofvaIuc,whoscacIuaI
consumpIIon IsIhcrcforc IIscIf an objccIIhcaIIon . . . ofIabour, hcncc
a crcaIIon of vaIuc. 1hc posscssor of moncy docs hnd such a spccIaI
commodIIy on Ihc markcI Ihc capacIIy for Iabour . . . In oIhcr words
Iabourpowcr.(z)o)
Labor-powcrconsIsIs ofIhc physIcaI,mcnIaIandhuman capacIIIcs Io
congcaI vaIuc In commodIIIcs. 8uI In ordcr Io bc IIscIf a commodIIy,
Iabor-powcr has Io havc ccrIaIn characIcrIsIIcs. FIrsI,"In ordcr IhaI IIs
posscssormay scII IIas acommodIIy,hcmusIhavc IIaI hIs dIsposaI,hc
musIbcIhcfrccproprIcIorofhIsownIabor-capacIIy,hcnccofhIspcrson'
SoIhcIdcaofIhcfrccIaborcrbccomcscrucIaI-sIavcryandscrfdomwIII
noI do. 1cIaborcr cannoI gIvc up hIs orhcr pcrson, aII hc or shc can
doIsIoIradcIhcphysIcaI,mcnIaIandhumancapacIIIcsIocrcaIcvaIuc.
"InIhIswayhcmanagcsboIhIo aIIcnaIc . . . hIsIabourpowcr-IhaIIs,
FROM CAPlTAL TO IA8OR-POWER
99
Io pass IIovcrIosomcbodycIsc"andIo avoIdrcnouncInghIs rIghIsof
owncrshIp ovcrII"(z;:).
SoIhccapIIaIIsIcannoIownIhcIaborcr,aIIIhccapIIaIIsIowns IsIhc
caac/t) IoIaborandIoproduccvaIucforaccrIaInpcrIodofIImc.
Tc sccond csscnIi condiIIon which aIIows Ihc owncr ofmoncyIohnd
Iabour-powcr u Ihc markcI as a commodIIy Is IhIs, IhaI Ihc posscssor
of Iabour-powcr, insIcad ofbcIng abIc Io scII commodiIics In which his
Iabourhasbccn objccIIhcd,musIraIhcrbccompcIIcdIooncr forsaIcas a
commodityIhaIvcryIabourpowcrwhIchcxIsIsonIyInhisIIvingbody (z)z)
Laborcrs,InoIhcrwords,arcnoIInaposIIIonIoworkforIhcmscIvcs.
ForthcIrsformaIionofmoncyinIocapIIaI,thcrcforc,thcowncrofmoncy
musI hnd thc frcc workcr avaIIabIc on thc commodIty-markcI, d thIs
workcr musI bc frcc in Ihc doubIc scnsc thaI as afrcc indivIduaI hc can
disposc ofhIs Iabour-powcrashis o commodity, and thaI,on thc othcr
hand,hchasno oIhcr commodIIyforsaIc,i.c.hc IsrIdofIhcm,hcisfrcc
ofaIIIhcobjccIsnccdcdforthcrcIzaIion. . . ofhIsIabour-powcr.(z;z-{)
1cIaborcr musI,InshorI,aIrcadybcdIsposscsscdofacccssIoIhcmcans
ofproducIIon.
Marx's commcnIaryonfrccdom IsrcaIIyapposIIcIo ourownIImcs.
WhaIdIdIImcan,for cxampIc,whcnPrcsIdcnIcorgcY 8ushwcnIon
andonabouIbrIngIngfrccdomIoIhcworIdHcuscdIhcwords"frccdo
and"IIbcrIy"InhIsSccondInauguraIAddrcsssomchhyIImcs.OnMarx's
criIicaI inIcrprcIaIion, Ihis wouId mcan IhaI ush was mobiIiing a
campaign Io frcc asmanypcopIc InIhcword as possIbIc ofanydirccI
conIroIovcr,oracccssIo,IhcmcansofproducIIon.Ycs,Indccd,IndIvIduaI
IaborcrswIIIhavcrIghIsovcrIhcIrownbodyandIndIvIduaIIcgaIrIghIsIn
IhcIabormarkcI.InprIncIpIcIhcyhavcIhcrIghIIoscIIIhcIrIabor-powcr
Io whomsocvcrIhcychoosc andIhcrIghIIo buywhaIcvcrIhcywanIIn
IhcmarkcIpIaccwIIhIhcwagcsIhcyrcccIvc.CrcaIIngsuchaworIdIswhaI
Ihc capIIaIIsI form ofImpcrIaI poIIIIcs has bccn abouI for Ihc pasI Iwo
hundrcdycars.IndIgcnousandpcasanIpopIaIIonswcrcdIsposscsscdof
acccssIo Ihc mcans ofproducIIon and proIcIarIanIzcdwhoIcsaIc across
IhcgIobc.InmorcrcccnIncoIIbcraIvcrsIonsofIhIssamc proccss,morc
andmorc socIaIsIraIaInpopuIaIIonsaII aroundIhcworId,IncIudIngIn
Ihc advanccdcapIIaIIsIcounIrics,havcbccn dIsposscsscdofthcirasscIs,
:oo A COMPANION TO MARX' S CAPI7AI
IncIudIng Indcpcndcntacccsstomcans ofproductIonorothcr mcans of
survIvaI(c.g.,pcnsIonsforoIdcrworkcrsorstatcwcIfarcpaymcnts) .
1cIdcoIogIcaIandpoIItIcaIIronIcsInvoIvcdI nthcpromotIonofthIs
"doubIc-cdgcd"formofbourgcoIsfrccdomarcnotIostonMarx.1oday
wcarcsoIdabIIIofgoodsonthcposItIvcaspcctsoffrccdomandforccd
toacccptasIncvItabIcorcvcnnaturaIthcncgatIvcaspccts.LIbcraIthcory
IsfoundcdondoctrIncs ofIndIvIduaIrIghtsandfrccdoms.From Lockc
toHayckandonward,aIIthcIdcoIogIstsofIIbcraIIsmandncoIIbcraIIsm
havcasscrtcdthatthcbcstdcfcnscofsuchIndIvIduaIrIghtsandIIbcrtIcs
IsamarkctsystcmfoundcdonprIvatcpropcrtyandthcbourgcoIsruIcs
of Indcpcndcncc, rccIprocIty and jurIdIcaI IndIvIduaIIsm that Marx
dcscrIbcd (and,forpurposcsofInquIry,acccptcd) Inchaptcr2.
SIncc It IshardtoprotcstagaInstunIvcrsaIIdcaIsoffrccdom,wc arc
casIIy crsuadcd to go aIong wIth thc hctIon that thc good frccdoms
(IIkcthoscofmarkctchoIcc)faroutwcIghthcbadfrccdoms(suchasthc
frccdomofcapItaIIststocxpIoItthcIaborofothcrs). AndIfIttakcsaIIttIc
rcprcssIon to dIsposscss pcopIc ofthcIr acccss to mcans ofproductIon
andto cnsurc thc sustcnancc ofmarkctfrccdoms,thcn that IsjustIhcd
aswcII.Prctty soon wc hnd ourscIvcs In thc mIdst ofMcCarthyIsm or
uantnamo 8ay wIthout an opposItIonaI Icg to stand on. Woodrow
WIIson,that grcat IIbcraI prcsIdcnt ofthc UnItcd Statcs who sought to
foundthc Lcaguc ofatIons,putItthIswayIn aIccturchc dcIIvcrcd at
CoIumbIaUnIvcrsItyIn:po;.
SIncctradc Ignorcs natIonaIboundarIcs andthc manufacturcrInsIstson
havIngthcworIdas amarkct,thcagofhIsnatIon mustfoIIowhIm,and
thc doors ofthc natIons whIch arc cIoscd agaInst hIm mustbcbattcrcd
down. ConccssIons obtaIncd by hnancIcrs must bc safcguardcd by
mInIstcrsofstatc,cvcnIfthcsovcrcIgntyofunwIIIIngnatIonsbcoutragcd
In thc proccss. CoIonIcs must bc obtaIncd or pIantcd, In ordcr that no
uscI corncrofthcworIdmaybcovcrIookcdorIcunuscd.
Marx's csscntIaI IdcoIogIcaI objcctIvc Is to pInpoInt thc dupIIcIty that
IIcs at thc hcart ofthc bourgcoIs conccptIon offrccdom (much IIkc hc
qucstIoncd Proudhos appcaIto bourgcoIs conccptIons ofjustIcc).1c
contrastbctwccncorgc8ussrhctorIcofIIbcrtyandfrccdomandthc
rcaIItyofuantnamo8ayIscxactIywhatwcshouIdcxpcct.
8ut how dIdthc Iaborcr comc to bc"frcc" In thIsdoubIcscnsc
FROM CAPITAI TO LA8OR-POWER 1 O1
thc frcc workcr approachcs thc capItaIIst wIth hIs Iabor In thc markct,
Marx obscrvcs,"docs not Intcrcst thc owncr ofmoncy . . . And for thc
prcscnt It Intcrcsts usjust asIIttIc"(z){). Hcrc Marx sImpIy assumcs that
proIctarIanIzatIon has aIrcady occurrcd and that a mnctIonIng Iabor
markctaIrcadycxIsts.8uthcdocs,howcvcr,wanttomakc"oncthIng"cIcar.
aturc docs not producc on thc onc hand owncrs of moncy or
commodItIcs,andon thcothcrhandmcn posscssIngnothIngbutthcIr
ownIabour-powcr.1hIsrcIatIonhasno basIs InnaturaIhIstory,nordocs
IthavcasocIaIbasIscommontoaIIpcrIodsofhumanhIstory.HIscIcarIy
thcrcsuItofapasthIstorIcaIdcvcIopmcnt,thcproductofmanycconomIc
rcvoIutIons, ofthc cxtInctIon of a whoIc scrIcs of oIdcr formatIons of
socIaIproductIon.(z){)
1at thc wagc-Iabor systcm had spccIhc hIstorIcaI orIgIns has to bc
acknowIcdgcd,IfonIytoprcsshomcthcpoIntthatthccatcgoryofwagc
IaborIsnomorc"naturaI"thanthatofthccapItaIIstorofvaIucItscIf.1c
hIstory ofproIctarIanIzatIonwIII bctakcn up In grcatcrdctaII Iatcr,In
part 8. For nowhcsImpIywants to assumc a mIIdcdgcd Iabor markct
aIrcadycxIsts.HcncvcrthcIcssacknowIcdgcs,
1hc cconomIc catcgorIcs rcady dIscusscd sImIIarIy bcar a hIstorIcaI
ImprInt.chnItchIstorIcaIcondItIonsarcInvoIvcdInthccxIstcnccofthc
product as acommodIty . . . Had wc gonc furcr, and InguIrcd undcr
whatcIrcumstanccs aII,orcvcnthcmajorItyofproductstakcthcformof
commodItIcs,wcshouIdhavcfoundthatthIsonIyhappcnsonthcbasIsof
oncartIcuIar modcofproduction, thc capitaIist onc. (z;)
1ccapItaIIstmodcofproductIon,notothcrmodcsofproductIon,wcarc
rcmIndcd,IsMarx'scxcIusIvcfocus.
1c commodIty productIon that has In thc past cxIstcd In varIous
forms, aIongsIdc thc monctary cIrcuIatIon that hIstorIcaIIy has aIso
cxIstcd In many forms, Is cIcarIy rcIatcd In Marx's mInd to thc rIsc of
wagc-Iaborforms.onc ofthcsc cvoIutIonsIsIndcpcndcntofthc othcr
In thc rIsc to domInatIon of a capItaIIst modc of productIon. AgaIn,
thc hIstorIcaI and IogIcaI argumcnts IntcrtwInc. 1c socIaIIy ncccssary
rcIatIon that IogIcaIIy bInds commodIty productIon to monctIzatIon
and both In turn to thc commodIhcatIon ofwagc Iabor has dIstInctIvc
hIstorIcaIorIgIns.ThcwagcsystcmandthcIabormarkctthattousappcar
1 O2 A COMPANION TO MARX'S CAPI7AI
obvIousandIogIcaI aImosIccrIaInIydIdnoIappcar socvcnIoward Ihc
cndofuropcanfcudaIIsm
Tc hIsIorIcaI condIIIons of capIIaI's] cxIsIcncc arcbyno mcans gIvcn
wIIhIhcmcrccIrcuIaIIonofmoncyandcommodIIIcs.IarIscsonIywhcn
Ihc owncr of Ihc mcans of producIIon and subsIsIcncc hnds Ihc frcc
workcr avaIIabIc, on Ihc markcI,as Ihc scIIcr of hIs own abour-powcr.
nd IhIs onchIsIorIcaIprc-condIIIoncomprIscsaworId'shIsIory.apIIaI,
Ihcrcforc,announccsfromIhcouIscIancwcpochInIhcproccssofsocIaI
producIIon.(z,)
Labor-powcrIs,howcvcr,apccuIIarcommodIIy,aspccIaIcommodIunIIkc
anyoIhcr.FIrsIandforcmosI,IIIsIhconIycommodIIhaIhasthccapacI
Iocrca/c va|uc. RIsIaborcrswhoscsocIaIIyncccssaryIabor-tImcIscongcaIcd
n commoiIics, and Iaorcrs who scII Ihcir Iaor-powcr Io hc capIIaIisI.
InIurn,Ihc capIIaIIsI uscs IhIs Iabor-powcr Io organIzc Ihc producIIon of
surpIus-vaIuc.oIc,howcvcr,IhaIIhcformInwhIchIabor-powcrcIrcuIaIcs
Is C-M-C (Iaborcrs takc IhcIr Iabor-powcr Into Ihc markct and scII II In
rcIurn formoncy,whIch IhcnpcrmIIs Ihcm tobuythc commodIIIcs thcy
nccdIo survIvc).SoIhcIaborcr,rcmcmbcr,IsaIwaysInthcC-M-CcIrcuII,
whIIc thc capIIaIIsI works In Ihc M-C-M' cIrcuII. Thcrc w thcrcforc bc
dIdcrcnI ruIcs for how Ihcy thInk abouI IhcIr rcspccIIvc sIIuaIIons. 1c
IaborcrcanbcconIcnIwIIhIhccxchangc ofcquIvaIcnts bccauscIIIsusc
vaIucsIhaImaIIcr.ThccapIIaIIsI,onIhcoIhcrhand,hastosoIvcthcprobIcm
ofgaInIngsurpIus-vaIucouIofIhccxchangcofcquIvcnIs.
SowhaIIs IIIhaIhxcsIhcvaIucofIabor-powcr as commodIIy 1c
answcrIs compIIcaIcd bccausc Iabor-powcr Is noI a commodIIy In Ihc
usuaI scnsc,noIonIybccauscII aIonc cancrcaIcvaIucbuI aIso bccausc
IhcdcIcrmInanIsofIIsvaIucarcdIdcrcnIfromIhoscofshIrIsandshocs
boIhInprIncIpIc andInIhc dcIaIIs.MarxmcntIonsIhcdIdcrcnccswIIh
scarccIyanycIaboraIIon.
Tc vaIuc ofIabour-powcr Is dcIcrmIncd, as In Ihc casc ofcvcry oIhcr
commodI, by Ihc Iabour-IImc ncccssary for Ihc producIIon, and
conscgucnIIy aIso Ihc rcproducIIon,ofIhIs spccIhc arIIcIc. In sofaras II
has vaIuc, II rcprcscnIs no morc Ihan a dchnIIc quanIIIy ofIhc avcragc
sociaIIabourobjccIicdInII. . . ForhIsmaInIcnancchcrcquIrcsaccrIaIn
guanIIIyofIhcmcansofsubsIsIcncc.TcrcforcIhcIabour-IImcncccssary
forthc productionoflabour-powcrIsIhc samc asthaIncccssaryforIhc
FROM CAITAL TO LAOR~OWR 1D]
producIIon ofIhosc mcans ofsubsIsIcncc, In oIhcr words, Ihc vaIuc of
Iabour-powcr Is IhcvaIuc ofIhc mcans ofsubsIsIcncc ncccssaryforIhc
maInIcnanccofIIsowncr.(z))
1cvaIuc ofIabor-powcr Is nxcd,Ihcrcforc,byIhcvaIucofaII ofIhosc
commodIIIcsIhaIarc nccdcdIorcproduccIhcIaborcrInagIvcnsIaIcof
IIfc.Wc addupIhcvaIucofIhcbrcad,IhcvaIucofIhcshIrIsandIhcshocs
andaIIIhcoIhcrIhIngsncccssaryIosusIaInandrcproduccIaborcrs,and
IhcIoIaIIswhaInxcsIhcvaIucofIaborpowcr.
RsccmsasImpIccnoughcaIcuIaIIon,sccmIngIynodIdcrcnIInprIncIpIc
fromanycommodIIy.8uIhowarc"nccds"dcIcrmIncdccdsdIsIInguIsh
IaborfromaII oIhcr commodIIIcs.FIrsI od, InIhc coursc ofIaborIng,"a
dcnnIIc quanIIIy ofhuman muscIc, ncrvc, braIn cIc. Is cxpcndcd, and
IhcscIhIngshavcIobcrcpIaccd'IfIhcIaborcrsarcrcquIrcdforaccrIaIn
kInd ofIaborIng (c.g.,down In a coaI mInc) Ihcy may nccd, say, morc
mcaIandpoIaIocsIo susIaInIhcIrIaborIng.FurIhcrmorc,"hIsmcansof
subsIsIcnccmusIIhcrcforc bc sucIcnI Io maInIaIn hIm In hIs normaI
sIaIcasaworkIngIndIvIduaI'AgaIn,whaIIs"normaI"1crcarc"naIuraI
nccds . . . such as food,cIoIhIng, fucI an housIng"IhaI"varyaccordIng
Io Ihc cIImaIIc and oIhcrphysIcaI pccuIIarIIIcs ofhIscounIry" (z;-,).
Workcrs'nccdsarcdIdcrcnI InIhcArcIIc Ihan In IcmpcraIc zoncs.8uI
IhcncomcsIhcrcaIIybIgshIh.
n Ihc oIhcr hand, Ihc numbcr and cxIcnI of hIs so-caIIcd ncccssary
rcquIrcmcnIs, as aIso Ihc manncr In whIch Ihcy arc saIIshcd, arc
IhcmscIvcsproducIsofhIsIory,anddcpcndIhcrcforc Io agrcaIcxIcnIon
thc !cvc! of civi!ization attaincd by a country, in particu!ar thcy dcpcnd on
thc conditions in which,and conscqucnt!y on thehaitsandexpectations
wiIh whIch, thc cIass of frcc workcrs has bccn formcd. In conIrasI,
Ihcrcforc,wIIh Ihc casc ofoIhcrcommodIIIcs,IhcdcIcrmInatIonofIhc
vaIueofIabour-powercontainsahistoricaIandmoraIcIemcnI.(z),)
1c ImpIIcaIIon IsIhaIIhc vaIuc ofIabor-powcr Is noI IndcpcndcnI of
Ihc hIsIory ofcIass sIruggIcs. FurIhcrmorc,"IhcIcvcIofcIvIIIzaIIon" In
acounIrywIIIvaryaccordIngIo,for cxampIc,Ihc sIrcngIhofbourgcoIs
rcform movcmcnIs. 1c rcspccIabIc and vIrIuous bourgcoIs arc from
IImc Io IImc appaIIcd Io wIIncss IhcpovcrIyofIhc masscs and,fccIIng
guIIIy,concIudcIhaIIIIsunacccpIabIcInadcccnIsocIcIyIhaIIhcmassof
1D A COMPANlON TO MARX' S CAPI7AI
IhcpcopIcIIvcInIhcwayIhcydo.1cyInsIsIonIhcprovIsIonofdcccnI
housIng,dcccnIpubIIchcaIIh,dcccnI cducaIIon,dcccnIIhIs anddcccnI
IhaI. Somc ofIhcscmcasurcscanbcsccn asscIf-InIcrcsIcd (bccausc,for
cxampIc,choIcracpIdcmIcs do noI sIopaIcIassbordcrs),buI IhcrcIs no
bourgcoIs socIcIy anywhcrc IhaI docs noI havc somc scnsc of cIvIIIzcd
vaIucs,andIhIsscnscpIays acrucIaIroIcIn dcIcrmInIngwhaIIhcvaIuc
ofIabor-powcr shouIdbc.
MarxIsappcaIIngIoIhcprIncIpIcIhaIIhcrcIsaIoIaIIIyofcommodIIIcs
IhaIscIsIhc Icrms forwhaIcounIsas arcasonabIcwagc In aparIIcuIar
socIcIy aI a parIIcuIar IImc. Hc docs noI dIscuss any such parIIcuIars.
InsIcad wc can procccd wIIh Ihc IhcorcIIcaI InquIry as IfIhc vaIuc of
Iabor-powcrIsxcdandknown,cvcnasIhcda/um IspcrpcIuaIIymovIng
and In any casc has Io bc dcxIbIc,rcdccIIng such oIhcr fcaIurcs as Ihc
rcproducIIoncosIsofIhcIaborcr,fromIraInIngandIhcrcproducIIonof
skiIIs to raising a tamiIy and rcproducing thc working cIass (its quaIitics
aswcIIasIIsquanIIIIcs) (z;,-6).
1crcIsoncoIhcrpccuIIarIIyofIabor-powcras acommodIIyIhaIIs
worIhyofnoIc.Thc capIIaIIsI cnIcrsIhcmarkcIpIacc andhasIopayfor
aII Ihc commodIIIcs(rawmaIcrIaIs,machIncry,cIc.)bcforcpuIIIngIhcm
Io work,buIwIIh Iabor-powcr Ihc capIIaIIsI hIrcs Ihc Iabor-powcr and
paysIIsprovIdcrsonIyahcrIhcyhavcdoncIhcwork.IncdccI,IhcIaborcr
advanccs Ihc commodIIyofIabor-powcrIo Ihc capIIaIIsI,hopIngIo gcI
paIdaI IhccndofIhcday.ThIs docsnoIaIways happcn,howcvcr,hrms
IhaIdccIarcbankrupIcycan rcncgc onwagcs (z;;-).InconIcmporary
ChIna, for cxampIc, a Iargc proporIIon of Ihc Iabor forcc In ccrIaIn
IndusIrIcs (consIrucIIon) and ccrIaIn rcgIons, parIIcuIarIy Ihc orIh,
havcbccndcnIcdIhcIrwagcs,prompIIngwIdcsprcadproIcsIs.
Marx's poInI hcrc Is IhaI Ihc noIIon of an acccpIabIc sIandard of
IIvIng for Ihc Iaborcr varIcs accordIng Io naIuraI, socIaI, poIIIIcaI and
hIsIorIccIrcumsIanccs.ObvIousIy,whaIIsacccpIabIcIn onc socIcIy(sa
conIcmporarySwcdcn)IsnoIIhcsamcasInanoIhcr(conIcmporaryChIna),
andwhaIwasacccpIabIcIn:,oInIhcUnIIcdSIaIcsIsnoIacccpIabIcIoday.
SoIhcvaIucofIabor-powcrIshIghIyvarIabIc,dcpcndIngnoIonIyonphysIcaI
nccds buIaIso oncondIIIons ofcIass sIruggIc,Ihc dcgrcc ofcIvIIIzaIIonIn
Ihc counIry and Ihc hIsIory ofsocIal movcmcnIs (somc ofwhIchgo far
bcyond whaI Ihc workcrs IhcmscIvcs mIghI dIrccIIy sIruggIc for). Thcrc
maybcsocIaIdcmocraIIcparIIcsIhaIInsIsIonunIvcrsaIhcIhcarc,acccss
IocducaIIon,adcquaIchousIng,pubIIcInfrasIrucIurcpar,waIcr,pubIIc
FROM CAITAL TO LAOR~OWR
IransporIaIIon, sanIIaIIon-as wcI as m cmpIoymcnI opporIunIIIcs aI a
mInImumwagc.AIhcscIhIngscanbcconsIdcrcdmndamcnIaIobIIgaIIons
ofcIvIIIzcdcounIrIcs,dcpcndIngonIhcsocIaIandpoIIIIcaIsIIuaIIon.
1c upshoI IsIhaIIabor-powcrIs noI a commodIIyIIkcanyoIhcr.R
Is IhcunIquccrcaIorofvaIucaIIhc samc IImc as ahIsIorIcaIandmoraI
cIcmcnIcnIcrsInIoIhcdcIcrmInaIIonofIIsvaIuc.AndIhIshIsIorIcaIand
moraIcIcmcnIIssubjccIIoInducnccbyawIdcarrayofpoIIIIcaI,rcIIgIous
and oIhcr forccs.vcn IhcVaIIcan has produccd powcrmI cncycIIcaIs on
IhccondIIIonsofIabor,and IhcIhcoIogyofIIbcraIIon,whcn II was aIIIs
hcIghI In LaIIn AmcrIca, pIaycd a kcy roIc In fomcnIIng rcvoIuIIonary
movcmcnIsInIhcp6csandp;cIhaIfocuscdonIhc sIandards ofIIvIng
ofIhcpoor. SoIhcvaIucofIabor-powcrIsnoIaconsIanI.IIducIuaIcsnoI
onIybccauscIhc cosIs ofsubsIsIcncc commodIIIcsvarybuI aIso bccausc
IhccommodIIybundIc nccdcdIorcproduccIhcIaborcrIs adccIcdbyaII
IhcscwIdc-rangIngforccs.PIaInIy,IhcvaIuc ofIabor-powcrIsscnsIIIvcIo
changcs InIhcvaIuc ofIhc commodIIIcs nccdcd Io supporI Ihcm. Chcap
ImporIs w rcducc IhaIvaIuc IhcWaI-MarIphcnomcnon has Ihus had
asIgnIhcanIImpacIonIhcvaIucofIabor-powcrInIhcUnIIcdSIaIcs.1c
hypcrcxpIoIIaIIonof Iabor-powcrInChInakccpsIhcvaIucof Iabor-powcr
down InIhcUnIIcdSIaIcsIhroughchcap ImporIs.ThIs aIso cxpIaInsIhc
rcsIsIancc, In many quarIcrs ofIhc capIIaIIsI cIass, Io puIIng barrIcrs Io
cnIryorIarIds onChIncscgoods,bccauscIo dosowouId bc Io raIsc Ihc
cosIofIIvIngInIhcUS,IcadIngIoadcmandfromworkcrsforhIghcrwagcs.
Marx,havIngbrIcdymcnIIoncdIssucsofIhIssorI,shunIsIhcmasIdc
Io concIudcIhaI,"ncvcrIhcIcss,InagIvcncounIryaI agIvcnpcrIod,Ihc
avcragc amounI ofIhc mcans of subsIsIcncc ncccssaryfor Ihc workcr
s d known d|um 2/,). Md c what hc oncdcs Is duId and In
pcrpcIuaIduxasIhc"known da/um" In agIvcncounIryaI agIvcnIImc.
HowrcasonabIcIsIhIsmovc1corcIIcaIIy,IIpcrmIIshImIomovconIo
cxpIaInhowsurpIus-vaIuccanbcproduccd,buIIIdocssoaIaprIcc.
In mosI naIIonaI cconomIcs, ways havc Indccd bccn found Io
dcIcrmIncwhaIIhIsda/um mIghIbc.LcgIsIaIIonconccrnIngamInImum
wagc,forcxampIc,rccognIzcsIhcImporIanccofahxcdda/um InagIvcn
pIacc and IImc, whIIc Ihc poIIIIcs ovcr whcIhcr Io raIsc II or noI Is an
cxccIIcnIIIIusIraIIonofIhcroIcpoIIIIcaIsIruggIcpIaysIndcIcrmInIngIhc
vaIucofIabor-powcr.LocaIsIruggIcsInrcccnIycars ovcra"IIvIng wagc"
aIso IIIusIraIc Ihc IdcaofboIh agcncraI da/um and socIaI sIruggIc ovcr
whaIIhcda/um shouIdbc.
1D A COMPANION TO MARX' S CAPI7AI
Ancvcn morc InIcrcsIIngparaIIcIwIIh Marx's formuIaIIon cxIsIs In
IhcdcIcrmInaIIonofIhcso-caIIcdpovcrIyIcvcI.InIhcmId-p6cs,MoIIIc
Orshansky dcvIscd a mcIhod Io dchnc Ihc povcrIyIcvcIbyhxIng II In
Icrms ofIhc moncy nccdcd Io buyIhaI parIIuIar commodIIy bundIc
dccmcd ncccssaryforIhcrcproducIIonof,say, afamIIyoffouraI somc
mInImaIIyacccpIabIcIcvcI.1Is IsIhc sorIofknowndatum IhaIMarx
IsrcfcrrIngIo.SInccIhcp6cs,howcvcr,IhcrchasbccnInccssanIdcbaIc
rcgardIngIhIs dchnIIIon,whIch bcamc Ihc asIs ofpubIIcpoIIcy c.g.,
wcIfarc andSocIaISccurIIypaymcnIs).xacIIywhaIIhcmarkcIbaskcI
of commodIIIcs shouId bc-how much for IransporIaIIon, how much
forcIoIhIng,howmuchforfood,howmuchforrcnI and doyourcaIIy
nccd a mobIIc phonc nowadays)-bccamc a maIIcr of conIrovcrsy.
1chgurcforafamIIyoffournowsIandsaI orcIhanzc,cccaycar.
crIghIwIngsayschavcaIIaIongbccnIookIngaIIhcwrongbundIc
and fhcrcy ovcrcsfimafing povcrfy in high-cosf Iocafions Iikc c
York CIIy, howcvcr, sIudIcssuggsIIhc IcvcI shouId bc z6,ccc or so.
ObvIousIy, hIsIorIcaI,poIIIIcaIandmoraIargumcnIsarcgoIngIo facIor
Inhcrc.
LcI us rcIurnIo Ihc Idca ofIhc rcuIaIIon ofIabor-powcr Ihrough
Ihc C-M-C cIrcuII and Ihc dIdcrcncc bIwccn IhaI and Ihc capIIaIIsIs
workIngInIhcC-M-C CcIrcuII.MarxcommcnIs.
1hc usc-vaIuc whIch Ihc capIIaIIsI gcIs In cxchangc manIfcsIs IIscIf
onIy In Ihc acIuaI uIIIIaIIon, In Ihc proccss ofIc consumpIIon ofIhc
Iabourpowcr. . . 1hcproccssofIhcconsumpIIonofIaourpowcrIsaIIhc
samcIImcIhc producIIon proccss ofcommodIIIcs and osurpIus-vaIuc.
1hc consumpIion ofIabour-powcr Is compIcIcd, as In Ihc casc ofcvcry
commodIIy,ouIsIdcIhcmarkcIorIhc sphcrcofcIrcuIaIIon.z;p
AndnowfoIIowsIhcIargcshIhInpcrspccIIvc.
cI us Ihcrcforc, In company wIIh Ihc owncrofmoncyand Ihc owncr
ofIabour-powcr,IcavcIhIsnoIsysphcrc,whcrccvcryIhIngIakcspIaccon
IhcsurfaccandInfuIIvIcwofcvcryonc,andfoIIowIhcmInIoIhchIddcn
abodc of producIIon, on whosc IhrcshoId fhcrc hangs Ihc noIIcc o
admIIIancc cxccpI on busIncss Hcrc wc shaII scc, noIonIyhow capIIaI
produccs,buIhowcapIIaIIs IIscIfproduccd.1hc sccrcIofprohI-makIng
musIaIIasIbcIaIdbarc.z;p8o
FROM CAPITAI TO IA8OR-POWER :o;
Marx Ihcn concIudcs wIIh a swIngIng IndIcImcnI of bourgcoIs
consIIIuIIonaIIIyandIaw.LcavIngIhcsphcrcofcIrcuIaIIonandcxchangc
mcans IcavIng IhaI sphcrc consIIIuIIonaIIy scIup as"a vcrydcn ofIhc
InnaIc rIghIs of man' 1c markcI Is "Ihc cxcIusIvc rcaIm ofFrccdom,
quaIIIy,PropcrIyand8cnIham'
Frccdom, bccausc boIhbuycr and scIIcr of a commodIIy,IcI us sayof
Iabour-powcr,arcdcIcrmIncdonIybyIhcIrownfrccwIII.TcyconIracIas
frccpcrsons,whoarccguaIbcforcIhcIaw. . . guaIIIy,bccausccachcnIcrs
InIo rcIaIIonwIIhIhc oIhcr,aswIIhasImpIcowncrofcommodIIIcs,and
Ihcycxchangc cguIvaIcnIforcguIvaIcnI.ropcrIy, bccausccach dIsposcs
onIyofwhaIIshIsown.And8cnIham,bccausccachIooksonIyIohIsown
advanIagc.TconIyforccbrIngIngIhcmIogcIhcr,andpuIIIng Ihcm InIo
rcIaIIonwIIhcachoIhcr,IsIhcscIhshncss,IhcgaInandIhcprIvaIcInIcrcsI
of cach. ach pays hccd Io hImscIfonIy, and no onc worrIcs abouI Ihc
oIhcrs.And prccIscIyforIhIs rcason, cIIhcr In accordanccwIIh Ihc prc
csIabIIshcdharmony ofIhIngs,or undcrIhcauspIccs ofan omnIscIcnI
provIdcncc, Ihcy aII work IogcIhcr Io IhcIr muIuaI advanIagc, for Ihc
commonwcaI,andInIhccommonInIcrcsI.(z8c)
Marx'sdccpIyIronIcdcscrIpIIonofIhcsIandardformofIIbcraIbourgcoIs
consIIIuIIonaIIIyandmarkcIIawbrIngsusIoIhcnnaIphascofIransIIIon
InhIsargumcnI
Whcn wc Icavc IhIs sphcrc of sImpIc cIrcuIaIIon or Ihc cxchangc of
commodIIIcs, whIch provIdcs Ihc frcc-Iradcr vuIgarIs' wIIh hIs vIcws,
hIs conccpIs and Ihc sIandard bywhIch hc udgcs Ihc socIctofcapIIaI
and wagc-Iabour, a ccrIaIn changc Iakcs Iacc, or so II acars, In Ihc
physIognomy of our dramaIIs pcrsonac. Hc who was prcvIousIy Ihc
moncy-owncr now sIrIdcs ouI In fronI as a capIIaIIsI, Ihc posscssor of
Iabour-powcrfoIIows ashIsworkcr.Tconc smIrks scIf-ImporIanIIyand
IsInIcnIonbusIncss,IhcoIhcrIsIImIdandhoIdsback,IIkcsomconcwho
has broughI hIs own hIdc Io markcI and knows hc has noIhIng cIsc Io
cxpccIbuIaIannIng.(z8c)
1csc mrIhcr rcccIIons on bourgcoIs rIghIs, cchoIng Ihc duaIIIy of Ihc
supposcd frccdom of Ihc Iaborcr, prodc a scguc In Ihc argumcnI InIo
a consIdcraIIon ofIhc far Icss vIsIbIc momcnI ofproducIIon IhaI occurs,
pIcaIIy,InIhcfacIorAndIIIsInIoIhIsrcaImIhaIwcwfoIIowMarxncxI.
CHAPTER FOUR
JC L8OOt !tOCC88nO JC !tOOuC!On
LI but
[
u8-N8uC
T L PMLW M NLN L N7b CA1AL
b~Nb LLWLM MLM @LN7W
_ _ _ _ _ LMN _
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_ _ _ _
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I wanI Io casI a backward Iook aI Ihc dIrccIIon Marx`s argumcnI has
IakcnIhusfar. I do sowIIhIhc hcIp ofa dIagrammaIIc rcprcscnIaIIon
ofhIsdIaIccIIcaI chaIn ofargumcnIaIIon (scc hgurc abovc).RcducIng
Marx`s argumcnI Io IhIs formaI IncvIIabIy docs an InjusIIcc Io Ihc
rIchncss of hIs IhInkIng, buI I IhInk II uscfuI Io havc somc sorI of
cognIIIvcmapofhIsargumcnIso IhaIyoucanmorc casIIynavIgaIcIIs
swIrIIngcrosscurrcnIs.
HcbcgInswIIhIhcunIIaryconccpIofIhccommodIIy,whIchcmbodIcs
IhcduaIIIyofusc- andcxchangc-vaIucs.WhaIIIcsbchIndcxchangc-vaIuc
Is Ihc unIIary conccpI ofvaIuc dchncd as socIaIIyncccssaryIabor-IImc
("socIaIIy ncccssary" ImpIIcs somconc wanIs or nccds Ihc usc-vaIuc).
t t o A COMPANION TO MARX
'
S CAPI7AI
VaIucInIcrnaIIzcsaduaIIIyofconcrcIcandabsIracIIabor,whIchconjoIn
Inan acIofcxchangcIhroughwhIchvaIucgcIscxprcsscdInIhc duaIIIy
ofrcIaIIvcandcquIvaIcnIformsofvaIuc.FromIhIs,amoncycommodIIy
cmcrgcsasIhcrcprcscnIaIIvcofIhcunIvcrsaIIIyofvaIuc,buIIhIsdIsguIscs
IhcInncrmcanIngofvaIucasasocIaIrcIaIIonIoproduccIhcfcIIshIsmof
commodIIIcs,undcrsIoodasmaIcrIaIrcIaIIonsbcIwccnpcrsonsandsocIaI
rcIaIIonsbcIwccnIhIngs.InIhcmarkcIpIacc,pcopIcrcIaIcIooncanoIhcr
noIaspcopIcbuIasbuycrsandscIIcrsofIhIngs.HcrcMarxassumcs,asIn
IIbcraI Ihcory,prIvaIc propcrIy rIghIs,jurIdIcaIIndIvIduaIs and pcrfccIIy
funcIIonIng markcIs.WIIhIn IhaI worId, moncy, Ihc rcprcscnIaIIon of
vaIuc,Iakcs onIwo dIsIIncIIvc andpoIcnIIaIIy anIagonIsIIc roIcs,as Ihc
mcasurcofvaIucandasIhcmcansofcIrcuIaIIon.8uIhnaIIyIhcrcIsonIy
oncmoncy,andIhc IcnsIon bcIwccnIhcIworoIcsIs sccmIngIy rcsoIvcd
byancwmoncyrcIaIIonIhaIbcIwccn dcbIors andcrcdIIors.1IsshIs
Ihc focus from a C-M -C form of cIrcuIaIion Io M -C- M, which is, of
coursc,IhcproIoIypcofIhcconccpIofcapIIaIdchncdnoIasaIhIngbuI
as a form ofcIrcuIaIIon ofvaIuc IhaI produccs a surpIus-vaIuc (prohI),
MC-M M. ThIs poscs a conIradIcIIon bcIwccn Ihc cquIvaIcncc
supposcdInpcrfccImarkcIcxchangc andIhc non-cquIvaIcnccrcquIrcd
InIhcproducIIon ofsurpIus-vaIuc.ThIsconIradIcIIonIsrcsoIvcdbyIhc
cxIsIcncc ofIabor-powcr as a commodIIyIhaI can bcboughI and soId
on Ihc markcI and Ihcn uscd Io producc vaIuc and Ihcrcforc surpIus
vaIuc.AndsowcarrIvc,hnaIIy,aIIhcgrandconccpIIonofacIassrcIaIIon
bcIwccncapIIaIandIabor.
ThIsIsnoI,pIcasc noIc,acausaIchaInofargumcnI.II docs cnIaIIIhc
graduaI unfoIdIng, Ihc IaycrIng ofdIdcrcnI IcvcIs ofcompIcxIIy, as Ihc
argumcnIcxpandsfromasImpIcopposIIIonwIIhInIhccommodIIyInIo
morcandmorcInsIghIsInIodIdcrcnIaspccIsofhowacapIIaIIsImodcof
producIIon works. ThIs dIaIccIIcaI cxpansIon conIInucs IhroughouI Ihc
book,forcxampIc,InIhccmcrgcnccofacIassrcIaIIonandofcIasssIruggIc
andInIhc duaI conccpIs ofabsoIuIcandrcIaIIvc surpIus-vaIuc.AndIhc
cansIonjumpsscaIcInIo Ihc macro-dIchoIomybcIwccnIhcwhoIc of
VoIumc I, whIch conccnIraIcs on Ihc worId ofproducIIon ofsurpIus
vaIuc,andVoIumc II,whcrcIhcprImaryfocus Is onIhccIrcuIaIIonand
rcaIIzaIIon of surpIusvaIuc. 1c IcnsIons (conIradIcIIons) bcIwccn
producIIon andrcaIIzaIIon undcrpIn Ihc IhcoryofcrIsIs InVoIumc III.
8uIIgowayahcadInIhcsIory.
ThIs cognIIIvc map hcIps us cnvIsIon how Marx has "grow hIs
IA8OR PROCESS AND SURPIUS-vAIUE t t t
argumcnIorganIcaIIyandbywhaIdIaIccIIcaIIcaps.8uIpIcascrcmcmbcr
IhaI Ihc charI Is a mcrc skcIcIaI form around whIch Marx arrangcs
an anaIysIs of Ihc rcaI dcsh and bIood of a dynamIc, cvoIvIng and
conIradIcIorycapIIaIIsImodcofproducIIon.
CHAPTER . THE LABOUR PROCESS AND THE VALORIZATION
PROCESS
Wc nowIcavc Ihc"noIsy"sphcrc ofIhc markcI,Ihc sphcrc offrccdom,
cquaIIIy,propcrIyand 8cnIham,andgo InsIdcIhcIaborproccss,whcrc
Ihc sIgn says. "o AdmIIIancc xccpI on 8usIncss' 1Is chapIcr Is,
howcvcr,unusuaI In onc rcspccI. For Ihc mosI parI, Marx Is cmphaIIc
IhaIhcIsdcaIIngonIywIIhIhc conccpIuaI caIcgorIcs formuIaIcdwIIhIn
andapproprIacIoacapIIaIIsI modc ofproducIIon.VaIuc,forcxampIc,Is
noIaunIvcrsaIcaIcgorybuI socIhIngunIqucIo capIIaIIsmarIsIngouI
ofIhcbourgcscra(ArIsIoIIc,as wchavcsccn,couIdnoIhavccomcup
wIIhII,gIvcnIhccondIIIonsofsIavcry) .8uIInIhIschapIcr,forIhchrsIIcn
pagcs orso,MarxIaunchcs InIo adIscussIonIhaIIsunIvcrsaI,appIIcabIc
across aIIpossIbIcmodcsofproducIIon.Wc"havcIoconsIdcrIhcIabour
roccss,'hcsays,"IndcpcndcnIIyofany spccIhc socIaI formaIIo (z8]),
Ihus conhrmIng aposIIIon hcIookcarIIcr, IhaI Iabor Is"acondIIIon of
human cxIsIcncc whIch s IndcpcndcnI ofaIIforms ofsocIcIy, II Is an
cIcrnaI naIuraI ncccssIIy whIch mcdIaIcs Ihc mcIaboIIsm bcIwccn man
andnaIurc,and Ihcrcforc humanIIfcIIscIf"(]]).
WcshoIdnoIInIcrprcIIhcscsIaIcmcnIs,howcvcr,InfamIIIarbourgcoIs
IcrmsIhaIprcsupposcacIcarscparaIIonbcIwccn"manandnaIurc,'cuIIurc
and naturc, naturaI and artcaI, mcntaI and ghyscaI, and n whch hIsIory
IsvIcwcdas aIIIanIcsIruggIcbcIwccnIwoIndcpcndcnIforccs,humanI
andnaIurc.JhcrcIs,InMarx'svIcw,nosuchcIcarscparaIIonInIhcIabor
proccss.1aIproccssIswhoIIynaIurIandwhoIyhumanaIIhcsamcIImc.
Is conIrucd dIaIccIIcaIIy as a momcnI of"mcIaboIIsm" In whIch II Is
ImpossIbIcIoscparaIcIhcnaIuraIfromIhchuman.
8uIwIIhInIhIsunIIaryconccpIIonofIhcIaborproccss,ashappcncd
InIhccascofIhccommodIIy,wcImmcdIaIcIyIdcnII[aduaIIIy.JhcrcIs,
saysMarx,"a proccssbcIwccnmanandnaIurc,aproccssbywhIchman,
IhroughhIsownacIIons,mcdIaIcs,rcguIaIcsandconIroIsIhcmcIaboIIsm
bcIwccnhImscIfandnaIurc'HumanbcIngsarcacIIvcagcnIsInrcIaIIon
IoIhcworIdaroundIhcm.Soman
: : z A COMPANION TO MARX
'
S CAP7AI
confronIsIhcmaIcrIaIsofnaIurcasaforccofnaIurc.HcscIsInmoIIonIhc
naIuraIforccswhIchbcIongIohIsownbody,hIsarms,Icgs,hcadandhands,
InordcrIoapproprIaIcIhcmaIcrIaIsofnaturcInaformadapIcdIohIson
nccds.TroughIhIsmovcmcnIhcacIsuponcxIcrnaInaIurcandchangcsII,
andInIhIswayhcsImuIIancousIychangcshIsownnaIurc.(z{)
1Is Iswhcrcwc mosIcIcarIycncounIcr Marx's dIaIccIIcaI formuIaIIon
ofIhc rcIaIIon Io naIurc.Wc cannoIIransformwhaI's goIng on around
us wIIhouI IransformIng ourscIvcs. ConvcrscIy, wc canI Iransform
ourscIvcs wIIhouI IransformIng cvcryIhIng goIng on around us. Thc
unIIary characIcr ofIhIs dIaIccIIcaI rcIaIIon, cvcn Ihough II cnIaIIs an
"cxIcrnaIIzaIIon" of naIurc and an "InIcrnaIIzaIIo of Ihc socIaI, can
ncvcrbcdIspIaccd.ThIs dIaIccIIc,ofpcrpcIuaIIyIransformIngoncscIfby
IransformIngIhc worId andvIccvcrsa,IsfundamcnIaIIoundcrsIandIng
IhccvoIuIIonofhumansocIcIIcsaswcIIasIhccvoIuIIonofnaIurcIIscIf
uIIhIsproccssIsnoIunIqucIohumanbcIngs-anIsdoI,bcavcrsdoII,
aIIkIndsoforganIsmsdoII.1cwhoIchIsIoryofIIfconcarIhIsrIfcwIIh
dIaIccIIcaI InIcracIIons ofIhIs kInd. amcs LovcIock argucs In hIs aIa
hypoIhcsIs,forcxampIc,IhaIIhcaImosphcrcwhIchsupporIsusrIghInow
wasnI aIways Ihcrc buI has bccn crcaIcd by organIsms IhaI oncc IIvcd
odmcIhanc and produccd oxygcn1c dIaIccIIc oforganIcIIfc and Ihc
cvoIuIIonofIhcnaIuraIworIdhasbccnccnIraIaIIaIong.
In hIs carIIcrworks, Marx madc much ofIhc Idca ofa dIsIIncIIvcIy
human "spccIcs bcIng" (pcrhaps drawIng on anI's anIhropoIogy as
wcII as Ihc IaIcr anIhropoIogIcaI formuIaIIons ofFcucrbach). TIs Idca
Iakcs abackscaI In Ihc formuIaIIons ofCa/ta|, buIII docs occasIonaIIy
cxcrcIscashadoInducncc,asInIhIsInsIancc.SowhaImakcs ourIabor
cxcIusIvcIyhumanspIdcr,'hcwrIIcs,
conducIs opcraIIons whIch rcscmbIc Ihosc of Ihc wcavcr, and abcc
wouIdpuImanyahumanarchIIccI Io shamcbyIhc consIrucIIon ofIIs
honcycombccIIs.uIwhaIdIsIInguIshcsIhcworsIarchIIccIfromIhcbcsI
ofbccsIsIhaIIhcarchIIccIbuIIdsIhcccIIInhIsmIndbcforchcconsIrucIs
II Inwax.AIIhc cndofcvcryIabourproccss,arcsuIIcmcrgcswhIchhad
aIrcady bccn conccIvcd by Ihc workcr aI Ihc bcgInnIng, hcncc aIrcady
cxIsIcdIdcaIIy c.,mcnIaIIy] .
ThIs Is an ImporIanI sIaIcmcnI.Wcavc an Idca, Marx says, and Ihcn
makc II rcaI. 1crc Is, Ihcrcforc, aIways an IdcaI" (mcnIaI) momcnI, a
LA8OR PROC5SS A~D SURPLUS-vALU5 1 1 j
utopIan momcnt, cntaIIcd In human productIvc actIvIty. Furthcrmorc,
thIs momcnt Is not haphazard."man not onIy cdccts a changc ofform
InthcmatcrIaIs ofnaturc,hcaIso rcaIIzcs . . . hIsown purposc In thosc
matcrIaIs'1cactIvItyIspurposIvc.ndthIsIsapurposchcIsconscIous
of,ItdctcrmIncsthcmodcofhIsactIvItywIththcrIgIdItyofaIaw,andhc
mustsubordInatchIswIIItoIt.ThIssubordInatIonIsnomcrcmomcntary
act'Hcnccds-wcnccd-topaycIoscattcntIon,and
thelessheisattractedbythenatureofthework. . . andthcless,therefore,
he enjoysit asthefreepIayofhisownphysicaland mentalpowers,thc
closerhisattentionisforcedtobe.(z)
JhcrcarcanumbcrofpoIntstobcmadcaboutthcsccrucIaIpassagcs
andthcyrcaIIyarccrucIaI.1o bcgInwIth,thcrcIsnoqucstIonthatMarx
IshcrccontcstIngFourIcr'sIdcasaboutthcIaborproccss.FourIcrthought
IaborIng shouId bc aboutjoy, passIonatc and crotIc cngagcmcnt, Ifnot
purcpIay.MarxIssayIngIt'sncvcrIIkcthat.AIotofhardworkandscIf-
dIscIpIIncarcrcquIrcdIfthcImagIncdIstobcmadc rcaIonthcground,
IfaconscIous purposcIstobcrcaIIzcd.Sccond,MarxhcrcaccordsavItaI
roIcto mcntaI conccptIons,to conscIous and purposIvc actIon, and thIs
contradIcts onc of thosc argumcnts so ohcn attrIbutcd to hIm, namcIy
thatmatcrIaIcIrcumstanccsdctcrmIncconscIousncss,thathowwcthInk
Is dIctatcdbythcmatcrIaIcIrcumstanccsInourIIfc.HcrchccIcarIysays,
no,thcrcIsamomcntwhcnthcIdcaI (thcmcntaI) actuaIIymcdIatcswhat
wcdo.ThcarchItcctandlthInkItIsImportanttotrcatthcarchItccthcrc
asametaphorratherthanasaprofessionhasthecapacitytothinkthe
wordandtoremaethewordinthatimage.Someanalystsargueeither
thatMarxsImpIyforgothIsown maxIms InthIs passagc orthathcIsIn
cdcct schIzophrcnIc,that thcrc arc two MarxIsms. onc thc MarxofthIs
passagc,aIIowIngforthcfrccpIayofIdcas and mcntaIactIvItIcs,andonc
thcdctcrmInIstIcMarx,whoIndccdhoIdsthatourconscIousncss,aswcII
aswhatwc thInkanddo,Is dctcrmIncdbyourmatcrIaIcIrcumstanccs.l
thInkncIthcrvIcwIspIausIbIc.ltIsunIIkcIythatInCa/ta|, ofaIIpIaccs,In
accntraIchaptcrofaworkthatwasrcvIscdcarcfuIIyforpubIIcatIon(and
IatcrmodIhcdInrcsponsctocrItIcIsm),MarxwouIdtakcaposItIonthat
wasnotdccpIyconsIstcntwIththcwayInwhIchhcundcrstoodthcworId.
lfthcsc passagcswcrcInoncofhIsnotcbooks,orcvcnInthcCrundrlsse,
that wouId bc onc thIng. 8ut thIs Is a ccntraI transItIonaI momcnt In
1 1 q A COMPANION TO MARX
'
S CAP7AI
Calta/'s argumcnI.H dcscrvcs,Ihcrcforc,ascrIous rcadIng andacarcfuI
InIcrprcIaIIon.
Marx`sdIaIccIIcaI undcrsIandIngofIhc Iabor proccss as a mcIaboIIc
momcnI ImmcdIaIcIy ImpIIcs IhaI Idcas cannoI possIbIy comc ouI
of nowhcrc. Idcas arc In somc scnsc whoIIynaIuraI (IhIs Is a posIIIon
fundamcnIaIIyaIoddswIIhHcgcIIanIdcaIIsm).SoIhcrcIsnoIhIngsIrangc
abouI sayIng Idcas arIscfromwIIhIn Ihc mcIaboIIc rcIaIIon Io maIcrIaI
naIurcandaIwaysbcarIhcmarkofIhaI orIgIn. OurmcnIaIconccpIIons
ofIhcworIdarcnoIdIvorccdfrom ourmaIcrIaIcpcrIcnccs,ourccnIraI
cngagcmcnIswIIhIhcworId,andIhcrcforc,IhcyarcnoIIndcpcndcnI of
IhosccngagcmcnIs.8uIIhcrcIs(andIhcparaIIcIwIIhIhccascofmoncy
and Ihc commodIIy Is hcrc InsIrucIIvc), an IncvIIabIc cxIcrnaIIzaIIon
of an InIcrnaI rcIaIIon, and In Ihc samc way IhaI Ihc worId ofmoncy
[dI!ICudIj Wh0B I! dSSuH0S SjHb0IIC I0IHS) D0!h d0dI !0 D0
andrcaIIyIs(sccIhcfcIIshIsmargumcnI)InopposIIIonIoIhcworIdof
commodIIIcsandIhcIrusc-vaIucs,soourmcnIaIconccpIIonsmovcInIo
an cxIcrnaI rcIaIIon Io Ihc maIcrIaI worId wc scck Io rcshapc. 1crc Is,
Ihcrcforc,adIaIccIIcaImovcmcnI,whcnIhcImagInaIIonsoarsfrcc,whcn
II can and docsayI amgoIngIobuIIdIhIsraIhcrIhanIhaI,rcshapIng
maIcrIaIcIcmcnIsusIngnaIuraIforccs(IncIudInghumanmuscIc)Insuch
awayasIoproducc somcIhIng ncwanddIdcrcnI (c.g.,IhcpoIIcraI Ihc
whccI).1crcIsaccrIaInopcnncssIo IdcasandmcnIaIconccpIIonsIhaI
IscapIurcdhcrcInMarx'sformuIaIIon.AndIncxacIIyIhc samcwayIhaI
IhcmoncIarysysIcm cangcIouIofhandandgcncraIchnancIaIcrIscs,so
ourmcnIaI conccpIIons (ourIdcoIogIcaI hxaIIons) cangcIouIofhand
andgcncraIc crIscs. Indccd,IhIs Is cxacIIyIhc posIIIonIhaIMarxIakcs
wIIhrcspccIIoIhcwhoIcbourgcoIsvIsIonofIhcworId,wIIhIIsobInson
CrusocfanIasIcsandIIsccIcbraIIonofahcIIonaIposscssIvcIndIvIduaIIsm
and pcrfccIIy funcIIonIng markcIs. In Ihc samcwayIhaI Ihc moncIary
sysIcmIs forccd aI somcpoInI Io rcIurnIo IIs scnscs In rcIaIIonIo Ihc
maIcrIaIworIdofsocIaIIyncccssaryIabor,soIhcbourgcoIsconccpIIonof
IhcworId,whIchIssIIIIsovcrymuchwIIhus,hasIogIvcwayIoamorc
approprIaIcconhguraIIonofmcnIaIconccpIIonsIfwcarcIoaddrcssIhc
spIraIIngsocIaIandcnvIronmcnIaIprobIcmsofconIcmporarycapIIaIIsm.
In IhIs, Ihc sIruggIc ovcr approprIaIc mcnIaI conccpIIons (usuaIIy casI
as"mcrcIysupcrsIrucIuraI,IhoughnoIcIhaIMarxdId spccI[IhaIIhIs
Is Ihc rcaIm In whIch wc "bccomc conscIous ofIssucs and"hghIIhcm
ouI) has a sIgnIhcanI roIc Io pIay. Why cIsc wouId Marx sIruggIc so
IA8OR PROC5SS AND SURPLUSvALU5 t t
mIghIIIy Io wrIIc Ca//a/ ThIs momcnI, whcn Marx posIIIons mcnIaI
conccpIIons,conscIousncss,purposIvcncssandcommIImcnI,IsIhcrcforc
In no way abcrranI In rcIaIIon Io Ihc damIcs ofsocIaI cvoIuIIon and
IhcIransformaIIonofnaIurc,andhumannaIurc,Ihrough IaborIng.RIs,
InsIcad,fundamcnIa
MarxIsaIsosayIngIhaIprojccIsIIkcbuIIdIngahousc)Iakchardwork
IocompIcIc andIhaIonccwchavccmbarkcdonaprojccIwcaIIIooohcn
bccomcImprIsoncdwIIhInIIsconhncs.Wc havcIosubmIIIoIIsdcmands,
subjccIourscIvcs andourpassIonsIo IIspurposIvcInIcnsIIy, Ifwc arcIo
compIcIc II.vcryIImc I wrIIc a book,for InsIancc, I sIarIwIIh an Idca
IhaI sounds brIIIIanI and cxcIIIng,buIbyIhc IImc I'm donc, II fccIs IIkc
gcIIIngouIofprIson|8uIIhcrcIsafarbroadcrmcanInghcrc.IIhchcarI
ofMarx's crIIIcaI scnsIbIIIIyIIcs Ihc Idca IhaI human bcIngs can aII Ioo
casIIyfaII prIsoncrIo IhcIrownproducIsandprojccIs,Io saynoIhIngof
IhcIrfaIscmcnIaIconccpIIons ofIhcworId.ThIscrIIIcaIscnsIbIIIIycanbc
appIIcdjusI as ruIhIcssIyIo communIsm, socIaIIsm andancIcnIRomcas
IocapIIaIIsm,whcrcMarxwIIImosIpowcrfuIIyandpcrsuasIvcIydcpIoyII.
Thcrc Is somcIhIng cIsc abouI Ihcsc passagcs IhaI makcs Ihcm
InIcrcsIIng.Marx,II sccmsIo mc,aIIachcsascnscnoIonIyofcrcaIIvIIy
buI aIso of nobIIIIy Io Ihc Iabor proccss. I hnd Ihc argumcnI dccpIy
RomanIIc. Marx was undoubIcdIy Inducnccd by carIy-nIncIccnIh-
ccnIury RomanIIcIsm. HIs carIy wrIIIngs arc Infuscd wIIh RomanIIc
scnIImcnIs and mcanIngs. nd whIIc IhIs scnsIbIIIIy Is subducd In hIs
IaIcr wrIIIngs,II Is noI hard Io dcIccI IIs prcscncc cvcn as conccpIs of
aIIcnaIIonmovcfromdccpIyagonIsIIcInIhcccncm/c and Ih//csch/ca/
Manuscr//s Io morc IcchnIcaI mcanIngs In Ca//a/). 8uI hcrc hc says
dirctly that hman ciIs an transform thc word In radIcaI ways
accordIng Io IhcIr ImagInaIIon and wIIh an Idca ofa purposc, and bc
conscIous abouI whaI Ihcy arc doIng. nd In so doIng, Ihcy havc Ihc
powcr Io Iransform IhcmscIvcs. Wc musI Ihcrcforc IhInk abouI our
purposcs,bccomc conscIousofhowandwhcnwcInIcrvcncInIhcworId,
IransformIng ourscIvcs.Wc can and musI scIzc hoId ofIhaI dIaIccIIcaI
possIbIIIIycrcaIIvcIy.Thcrc Is,Ihcrcforc,noncuIraIIransformaIIonofan
cxIcrnaIIzcd naIurc InrcIaIIonshIp Io us.WhaIwc do"ouI Ihcrc" Isvcry
much abouI us "In hcrc'Marx makcs us IhInk aboI cxacIIy whaI IhIs
dIaIccIIcmcansforus,aswcIIasfornaIurc,ofwhIchwcarcbuIoncparI.
hcncc Ihc unIvcrsaIIsIIc approach Io undcrsIandIng Ihc Iabor proccss.
1IsImpIIcsIhaIhumannaIurcIsnoIagIvcnbuIpcrpcIuaIIycvoIvIng.
: : 6 A COMPANION TO MARX'
S CAPI7AI
Marx's posIIIonIng hcrc Is conIrovcrsIaI as Is, pcrhaps, my own
rcadIng ofII).1crc arc abundanI opporIunIIIcs Io dIspuIc II.You can
Iac Fouricr`s posiIion, for cxampIc, or somc vcrsion of Ihc MarxIsI
auIonomIsIIcposIIIons of1onycgrI,ohnHoIIowayandHarryCIcavcr,
whosc Kcuding CapIIaI Io/i/icu//]' odcrs an InIcnsIvc InquIry InIo Ihc
maIIcrs nowbcforc us. 8uIyou havcIo comc Io Icrms hcrc wIIh somc
undcrsIandIngofwhaIMarxIssayIng,sccIhaIIhIsIshowhcIsposIIIonIng
hImscIf,IhaI IhIs Is hIsvIsIon ofwhaIIhcpoIcnIIaIIIyfor crcaIivc Iabor
andchangIngIhcworIdIsrcaIIyaIIabouI.
So how Ihcn can Ihc Iabor proccss, as a unIvcrsaI condIIIon of
possIbIIIIy ofhuman cxIsIcncc, bc characIcrIzcd Marx dIsIInguIshcs
IhrccdIsIIncIIvccIcmcnIs."purposcfuIacIIvIIy,IhaIIsworkIIscIf. . . Ihc
objccIonwhIchIhaIworkIspcrformcd,and. . . IhcInsIrumcnIsofIhaI
wor"z8(). IniIiaIIy, hc obccI on which wor ispcrformcd is givcn
In Ihc conccpI ofIand, raw naIurc. 8uI hc quIckIy movcs away from
IhIs Io dIsIinguIsh rawnaIurc from raw maIcrIaIs, which arc aspccIs
ofIhc worIdIhaIhavc aIrcadybccn parIIaIIy Iransformcd,crcaIcd or
cxIracIcdbyhumanIabor.AsImIIardIsIIncIIonarIscsInIhccascofIhc
InsIrumcnIs ofIabor. Thcsc can bcgIvcn dIrccIIy-sIIcks, sIoncs, cIc.,
IhaIwccanusc.8uIIhcnIhcrcarcIhcconscIousIymadcInsIrumcnIsof
IaborsuchasknIvcs andaxcs.SowhIIcIhccarIhmaybcour"orIgInaI
Iardcr"and"ourorIgInaIIooIhousc'humanbcIngshavcIongsuccccdcd
In IransformIngboIhIhcIandandIhcInsIrumcnIs ofIaboraccordIng
IoconscIousdcsign."Man,'Marxsays,quoIIng8cnFrankIInwIIhsomc
modIcum ofapprovaI, can bcdchncd"as a IooI-makIng anImaI'"Thc
uscandconsIrucIIonofInsIrumcnIsofIabour,aIIhoughprcscnIIngcrm
among ccrIaIn spccIcs ofanImaIs, Is characIcrisIIc ofIhc spccIhcaIIy
humanIabour proccss"z8,6) .MarxIcnodcrsa sIdc obscrvaIIonon
whIchhcwIIIcIaboraIcIn dcIaIIIaIcr.
IIis noIwhaI is madcbuIhow iI is madc] ,andbywhaI insIrumcnIs
ofIabour,IhaI disIinguishcs dincrcnI cconomic cpochs. InsIrumcnIs of
Iabour noI onIy suppIy a sIandard ofIhc dcgrcc ofdcvcIopmcnIwhich
human Iabour has aIIaincd, buI Ihcy aIso IndIcaIc Ihc sociaI rcIaIions
wiIhinwhichmcnwork.z86)
I. HarryCIcavcr,Kcuding CaptaIIo/i/icu//] (Lccds.AK/ Anti-hcsis,2000).
LA8OR PROCSS AND SURPLUS-VALU t t
7
1c ImpIIcaIIon Is IhaI IransformaIIon In our InsIrumcnIs ofIabor has
conscqucnccs forour socIaI rcIaIIons and vIcc vcrsa, IhaI as our socIaI
rcIatIonschangc,soourIcchnoIogymustchangc,andasourtcchnoIogy
changcs, so our socIaI rcIaIIons changc. So hc hcrc scIs up Ihc Idca of
a dIaIccIIc bcIwccn IcchnoIogIcs and socIaI rcIaIIons whIch wIII bc
sIgnIhcanIIaIcron. 1IsIs, aswchavc sccn,atypIcaIMarxsIraIcgy-Io
InscrIacommcnIofIhIssorIasaprccursorIowhaIcomcsIaIcr.
8uIwc arc noI onIyconccrncdwIIh IooIs In Ihc convcnIIonaI scnsc.
PhysIcaI InfrasIrucIuraI condIIIons, aIsoproduccdbyhumanIabor, arc
noI dIrccIIy InvoIvcd In Ihc ImmcdIaIc Iabor proccss buI arc ncccssary
Io IIs pcrformancc."InsIrumcnIs ofIhIs kInd,whIchhavcaIrcadybccn
mcdIaIcdIhroughpasIIabour,IncIudcworkshops,canaIs,roads,cIc'(8;)
ThcIaborproccssdcpcndsnoIonIyonIhccxIracIIonofmaIcrIaIsfrom
raw naIurc buI aIso on a buIII cnvIronmcnI ofhcIds, roads and urban
InfrasIrucIurc(somcIImcsrcfcrrcdIoas"sccondnaIurc").
So whaI abouI Ihc acIuaI Iabor proccss IIscI Hcrc Marx rcvcrts
Io a consIdcraIIon of proccss-IhIng rcIaIIonshIps. Labor Is a proccss,
II's IransformIng somcIhIng InIo somcthIng cIsc. ThIs transformaIIon
cxIInguIshcsancxIsIIngusc-vaIucandcrcaIcsanaIIcrnaIIvc.FurIhcrmorc,
"whaIonIhc sIdcofIhcworkcrappcarcdInIhcform ofunrcsI"-thaIIs,
moIIon-"nowappcars,onthcsIdcofthcproduct,InIhcformofbcIng. . .
asaxcd,ImmobIIccharacIcrIsIIc.1cworkcrhasspun,andthcproducIIs
aspInnIng"(8;).ThIsdIdcrcnccbcIwccnproccssandthIngIsaIwaysthcrc.
ThIs Is somcIhIng I aIways apprccIaIc abouI Marx's formuIatIon. As an
cducaIor, I am consIanIIy conhonIcd wIIh Ihc proccss-thIng rcIaIIon. Thc
proccssofasIudcnIsIcarnInggcIsjudgcdInmccndbypcrformaIIvcmIngs,
Ic writtcn papcrs. But it is somcumcs had, not imQossib!c, to cvuaIc
Ihc proccss Ihugh c IhIngs produccd. SdcnIs may nd Ihc poccss
asIonIshInycnIIIcnIngandIcarnaIoI,buIuIhcyproduccaIousypapcr,
mcygcIan1cnmcysa"8uIIIcarncd somuchIakIngIhIscoursc|"And
I say,"HowcanyoupossIbIyIIc apapcrIIkc IhaI and sayyovcIcarncd
anyIhIng"8uImIsIsaprbIcmmaIhcqucnIIyconhonIsusaII.WccanIoIay
scrcwupInprducingIhcming,buIwcIcarnafanIastIcamounIInthcproccss.
ForMarx,IhchcarIofIaborIngIsIhcproccss.IncxacIIyIhcsamcway
IhaI capIIaIIsconsIrucdasaproccssofcIrcuIaIIon,so IaborIsconsIrucd
asaproccssofmakIng.8uIIIIsaproccssofmakIngusc-vaIucs,andundcr
capIIaIIsmIhIsmcansmakIngusc-vaIucforsomconccIscIncommodIIy
form.DocsIhIs uscvaIuchavc IobcofImmcdIaIcuscoI ncccssarIIy,
t t 8 t comrtNioN fo mtrx's CAPI7AI
bccauscpasIIaborcanbcsIorcdupforuscInIhcfuIurc (cvcnprImIIIvc
socIcIIcs usuaIIy maInIaIn a surpIus producI Io IIdc Ihcm ovcr). In our
worId, a massIvc amounI ofpasI Iabor Is sIorcd up In our hcIds, cIIIcs
andphysIcaIInfrasIrucIurc,and somc ofIhaIcamc from Iong ago. 1c
daIIy acIIvIIy ofIaborIng Is onc IhIng, buI Ihc way IhaI IaborIng gcIs
sIorcd up InproducIs and IhIngs aIso pIays a crIIIcaI roIc. FurIhcrmorc,
IhcIaborproccssohcn produccs dIdcrcnIIhIngs sImuIIancousIy. 1IsIs
whaIIsknown as a"joInIproducIs"Issuc.1craIsIngofcaIIIcproduccs
mIIk, mcaI and hIdcs,whIIc shccp raIscdforIhcIrmcaI producc wooI
whcIhcryouIIkcIIornoI.1IswIIIposcprobIcmsundcrcapIIaIIsm.how,
for cxampIc, arc Ihcsc muIIIpIc joInI producIs Io bc scparaIcIyvaIucd
Thcn Ihcrc Is Ihc probIcm ofhow Ihc producIs ofpasI Iabor rcIaIc Io
prcscnIacIIvIIIcsofIaborIng.ThIsbccomcsparIIcuIarIyImporIanIInIhc
cascofIhcvaIucofmachIncs"amachIncwhIchIsnoIacIIvcInIhcIabour
procssisuseIess'1eimpIicaIionisIhaI
IIvIng Iabour musI scIzc on Ihcsc IhIngs, awakcn Ihcm from Ihc dcad,
changc Ihcm from mcrcIy possIbIc InIo rcaI and cdccIIvc usc-vaIucs.
8aIhcd InIhchrcofIabour andIhIs Is agaIn arx comIngbackIoIhc
ccnIraIIIy ofIabor as proccss] approprIaIcd as parI ofIIs organIsm, and
InfuscdwIIhvIIaIcncrgyforIhcpcrformanccofIhcfuncIIonsapproprIaIc
Io IhcIr conccpI and Io IhcIrvocaIIon In Ihc proccss, IhcmachIncs] arc
Indccd consumcd, buI Io somc purposc, as cIcmcnIs In Ihc formaIIon
of ncw usc-vaIucs, ncw producIs, whIch arc capabIc of cnIcrIng InIo
IndIvIduaI consumpIIon as mcans of subsIsIcncc or InIo a ncw Iabour
proccssasmcansofproducIIon.(z8ppo)
II Is, Ihcrcforc, conIacI wIIh IIvIng Iabor whIch rcsuscIIaIcs Ihc vaIuc
of Ihc dcad Iabor congcaIcd In pasI producIs. ThIs poInIs Io a vIIaI
dIsIIncIIonbcIwccnproducIIvc andIndIvIduaIconsumpIIon.ProducIIvc
consumpIIon IspasIIaborIhaIgcIsconsumcdInacurrcnIIaborproccss
IomakcancnIIrcIynewusc-vaIuc,IndIvIduaI consumpIIonIswhaIgcIs
consumcdbypcopIcasIhcyrcproduccIhcmscIvcs.
"1c Iabour proccss,' Marx argucs In a concIudIng passagc, "Is
purposcfuI acIIvIIy aImcd aI Ihc producIIon of usc-vaIucs. R Is an
approprIaIIonofwhaIcxIsIsInnaIurcforIhc rcquIrcmcnIs ofman. R Is
IhcunIvcrsaIcondIIIonforIhcmcIaboIIcInIcracIIon. . . bcIwccnmanand
naIurc" (noIc agaInhowImporIanI IhIs Idca ofmcIaboIIc InIcracIIon Is
LAOR ROCSS AND SURLUS~VALU 1 1Q
InMarx'sanaIysIs),"IhccvcrIasIIngnaIurc-ImposcdcondIIIonofhuman
cxIsIcncc"(whIchIswhaIhcsaIdbackonpagc]]),
orraIhcrIIIscommonIoaIIformsofsocIcInwhIchhumanbcIngsIIvc.
WcdIdnoI,Ihcrcforc,havcIo prcscnI IhcworkcrInhIsrcIaIIonshIpwIIh
oIhcrworkcrsIIwascnoughIo prcscnI man andhIsIabouron oncsIdc,
naIurcandIIsmaIcrIaIsonIhcoIhcr.TcIasIcofporrIdgcdocsnoIIcIIus
whogrcwIhc oaIs,andIhcproccsswchavcprcscnIcddocs noIrcvcaIIhc
condIIIonsundcwhIchIIIakcspIacc.(zpo)
WhaIMarxhas donc In Ihcsc fcw pagcs Is Io odcr unIvcrsaI physIcaI
dIssccIIons and dcscrIpIIons of Ihc Iabor proccss IndcpcndcnI of any
socIaI formaIIon, sIrIppcd barc ofany parIIcuIar socIaI mcanIng. I can
dcscrIbc somcbodydIggIngadIIchInaIIIIsphysIcaIdcIaII,IncIudIngIIs
rcIaIIon Io pasI Iabor cmbodIcd In Ihc shovcI,buI I canI IcII from IhIs
dcscrIpIIon whcIhcr IhIs Is somc nuIIy arIsIocraI who docs II jusI for
cxcrcIsc,whcIhcr II's a pcasanI,whcIhcr II's a sIavc,whcIhcr II's a wagc
Iaborcr or a convIcI. So Ihcrc Is away Io Iook aI Ihc Iabor proccss as a
purcIyphysIcaI proccss wIIhouIacIuaIIyknowIng anyIhIng whaIsocvcr
abouIIhcsocIaIrcIaIIonsInwhIchIIIs cmbcddcdandwIIhouIrcfcrcncc
IoIhcIdcoIogIcaIandmcnIaIconccpIonsIhaIarIscwIIhIn,say,acapIIaIIsI
modc ofproducIIon.WhaIrcmaInsIsIo consIdcrhowcapIIaIIsmmakcs
dIsIIncIIvcuscofIhcscunIvcrsaIcapacIIIcsandpowcrs.
1c Cui/u/i:/ Iorm o[/hc Iu0or Irocc::
"LcI us nowrcIurn Io ourwouId-bc capIIaIIsI.Wc Ich hImjusIahcr hc
had purchascd, in thc opcn markct, aII thc ncccssary tactors ot thc Iabour
proccssIIsobjccIIvcacIors-IhaIIs,IhcmcansofproducIIonaswcII
as IIs pcrsonaI facIor, Iabourpowcr' 1wo condIIIons aIIach, howcvcr,
Io Ihc conIracI bcIwccn capIIaI and Iabor In Ihc buyIng and scIIIng of
Iabor-powcr as a commodIIy. 1c hrsI Is IhaIIhc workcr works undcr
Ihc conIroI ofIhc capIIaIIsIIo whom hIs IabourbcIongs" (zp).ThaI Is,
whcnIcnIcrInIoconIracIwIIhacapIIaIIsI,IhccapIIaIIsIhasIhcrIghIIo
dIrccImyworkandassIgnmyIasks.ow,IhcrcwIIIIIkcIybcconIcsIaIIon
ovcrIhIsIfIhaIworkIsdangcrousIoIIfcandIImb,buIncvcrIhcIcss,Ihc
gcncraI prIncIpIc Is IhaI Ihc IaborcrwIII gcI Ihc moncy Io survIvc and
In rcIurn Ihc capIIaIIsI can dIrccI Ihc Iaborcr Io do IhIs or IhaI. Labor-
powcrsacommodIIyIhaIbcIongsIoIhccapIIaIIsIforIhc pcrIodofIhc
: zo A COMPANlON TO MARX
'
S CAP7AL
conIracI. 1c sccond condIIIon Is IhaI whaIcvcr Ihc Iaborcr produccs
durIng Ihc pcrIod ofIhc conIracI bcIongs Io Ihc capIIaIIsI, noI Io Ihc
Iaborcr.vcnIhoughI amIhc oncwho makcsIhccommodIIyandwho
cmbcds concrcIcIaborandvaIucInII,II docsnoIbcIongIomc.1IsIsan
InIcrcsIIngvIoIaIIonofIhc ockcanvIcwIhaI IhoscwhocrcaIcvaIucby
mixIng IhcIr IaborwIIh Ihc Iand arc cnIIIIcd Io prIvaIc propcrIyIn IhaI
vaIuc. In gcncraI,I IhInk you can scc IhaI Ihcsc Iwo condIIIons amounI
IoIhcIoIaIaIIcnaIIon (IhoughMarxdocs noIuscIhaIwordhcrc) ofIhc
IaborcrfromIhccrcaIIvcpoIcnIIaIIhaIaIIachcsboIhIoIaborIngandIo
IhcproducI."FromIhcInsIanIhcsIcpsInIoIhcworkshop,Ihcusc-vaIucof
hIsIabour-powcrandIhcrcforcaIsoIIsusc,whIchIsIabour,bcIongsIoIhc
capIIaIIsI.8yIhcpurchascofIhcIabour-powcr,IhccapIIaIIsIIncorporaIcs
Iabour, as a IIvIng agcnI of fcrmcnIaIIon"agaIn wc cncounIcr Ihc
Crundrlsse's "formgIvInghrc"ofIaborIngasanacIIvIIy"InIoIhcIIfcIcss
consfifucnfsofhcproducf,whichalsobclongfohim"
(zz).
1cscIwo condIIIons, howcvcr, pcrmII Ihc capIIaIIsI Io so organIzc
producIIonas
IoproduccacommodIIygrcaIcrInvaIucIhanIhcsumofIhcvaIucsofIhc
commodIIIcs uscd Io producc II namcIy Ihc mcans ofproducIIon and
IhcIabour-powcrhcpurchascdwIIhhIsgoodmoncyonIhcopcnmarkcI.
HIsaImIsIoproduccnoIonIyausc-vaIuc,buIacommodIIynoIonIyusc
vaIuc,buIvaIucandnoIjusIvaIuc,buIaIsosurpIus-vaIuc.
So Ihc capIIaIIsI brIngs IogcIhcr Ihc "Iabour proccss and Ihc proccss
ofcrcaIIng vaIuc" Io crcaIc a ncw kInd ofunIIy zp]) . 1Is IswhaIIhc
capIIaIIsIhasIodo,IhIsIsIhccapIIaIIsI'sconscIousaIm,bccauscIhcorIgIn
ofprohIIIcsInsurpIus-vaIuc,andIhcroIcofIhccapIIaIIsIIsIoscckprohI.
"vcrycondIIIonofIhcprobIcmIssaIIshcd,'saysMarx,
whIIc Ihc Iaws govcrnIng Ihc cxchangc of commodIIIcs havc noI bccn
vIoIaIcdInanyway.guIvaIcnIhasbccncxchangcdforcguIvaIcnI.ForIhc
capIIaIIsIasbuycrpaIdIhc fuIIvaIucforcachcommodIIy,forIhc coIIon,
for Ihc spIndIc and forIhc Iabour-powcr. Hc Ihcn dIdwhaI Is donc by
cvcrypurchascrofcommodIIIcs.hcconsumcdIhcIruscvaIuc.
In so doIng, hc Is cnabIcd Io producc commodIIIcs wIIh morc vaIuc
Ihan Ihosc purchascd aI Ihc ouIscI, hcncc Ihc producIIon of surpIus-
ttror rrocrss tNo surrtus-vttur
vaIuc. "ThIs whoIc coursc of cvcnIs,' Marx concIudcs, InvoIvcs "Ihc
IransformaIIon ofmoncyInIo capIIaI'In such awayIhaI II"boIh Iakcs
pIacc and docs noI Iakc pIacc In Ihc sphcrc ofcIrcuIaIIon"(]cz).1c
maIcrIaIsandIabor-powcrarcboughIIn Ihc markcIpIacc aI IhcIrvaIuc
buIpuIIoworkIo congcaI morcvaIuc InIhccommodIIIcsproduccd In
IhcproccssofproducIIon,ouIofsIghIofIhcmarkcIpIacc.ThccondIIIons
IhaIarc"saIIsncd"arcIhoscscIouIaIIhccndofchapIcrj. IhaIIhcmoncy
owncr"musIbuyhIscommodIIIcsaIIhcIrvaIuc,scIIIhcmaIIhcIrvaIuc,
andycIaIIhccndofIhcproccsswIIhdrawmorcvaIucfromcIrcuIaIIon
IhanhcIhrcwInIoIIaIIhcbcgInnIng"z6p). ThcrcsuIIappcarsmagIcaI,
bccauscnoIonIydocscapIIaIappcarabIcIoIaygoIdcncggsbuI
byIncorporaIIng IIvIng IabourInIo . . . IIfcIcss objccIIvIIy, Ihc capIIaIIsI
sImuIIancousIy Iransforms vaIuc, I.c. pasI Iabour In IIs objccIIhcd and
IIfcIcss form,InIo capIIaI,vaIucwhIch canpcrform IIs o vaIorIzaIIon
proccss,an anImaIcdmonsIcrwhIchbcgInsIoworas IfIIsbodywcrc
byIovcposscsscd'hcrcarxquoIcsFausI] .({oz)
ThcformofcIrcuIaIIonIooksIIkcIhIs.
LP
MC . . . . . . P. . . . . . . . . . C-M M
MP
LcIusIookmorccIoscIyaIIhcdIdcrcnIsIcpsInIhIsproccss.1ccapIIaIIsI
has Io buy mcans of producIIon (MP). raw maIcrIaIs, machIncry, scmI-
manufacIurcd IIcms producIs of pasI Iabor (concalcd valucs. c
capIIaIIsI hasIopayforIhosc commodIIIcsaIIhcIrvaIuc accordIngIothc
ruIcsofcxchangc.IfaspIndIcIs nccdcd,IhcnIhcsocIaIIyncccssaryIabor-
IImccmbodIcdInspIndIcsnxcsvaIuc.IfsomcbodyuscsagoIdspIndIc,Ihcn
IhaIIsnoIsocIaIIyncccssary. FrIhcIabor proccss Iowork,IhccapIIaIIsI
rcquIrcsadcquaIcacccssIomcansofproducIIonInIhcmarkcIpIacc.WhaI
IhcpurchascofIabor-powcr(LP)cnabIcsIsIhcrcanImaIIonofIhcsc"dcad"
mcans ofproducIIonIhroughIhcproccssofIaborIng(P).
urIng Ihc Iabour proccss, Ihc workcrs Iabour consIanIIy undcrgocs a
IransformaIIon,from Ihcform ofunrcsI . . . InIoIhaI ofbcIng. . . ,from
IhcformofmoIIon. . . InIo IhaI ofobjccIIvIty. . . I Ihc cnd ofonc hour,
t zz A COMPANION TO MARX'S CAPI7AI
IhcspInnIngmoIIonIsrcprcscnIcdInaccrIaInguanIIIyofyarnInoIhcr
words, adchniIc guanIIIy ofIabour, namcIy IhaI ofonc hour, has bccn
objccIIhcd In Ihc coIIon.Wc say Iabour, i.c.Ihc cxpcndiIurc of his IaI
forccbyIhcspInncr,andnoIspInnIngIabour,bccauscIhc spccIaIworkof
spInnIngcounIshcrconIyInsofarasiIIsIhccxpcndIIurcofIabour-powcr
IngcncraI,andnoIIhcspccIhcIabourofIhcspInncr.(z,6)
InoIhcrwords,IIIsabsIracIIaborwhIchIsbcIngIncorporaIcdInIoIhIs
acIofspInnIng,II IsvaIucbcIng addcd InIhcformofsocIaIIyncccssary
Iabor-IImccongcaIcdInIhcyarn.1crcsuIIIsIhaI
dchnIIc guanIIIIcs of producI, guanIIIIcs whIch arc dcIcrmIncd by
cxpcrIcncc,nowrcprcscnInoIhIngbuIdchnIIcguanIIIIcsofIabour,dchnIIc
masscsofcrysIaIIicdIabour-IImc.TcyarcnowsImpIyIhcmaIcrIaIshapc
IakcnbyaivcnnumbcrofhoursordaysofsociaIIabour.(z,))
FurIhcrmorc, "In Ihc proccss wc arc now consIdcrIng II Is of crcmc
porIanccIhaInomorcIImcbcconsumcdInIhcworkofIransformIngIhc
coIIonInIoyarnIhanIsncccssaryundcrIhcgIvcnsocIaIcondIIIons"(zp6).
8uI aIIhc cnd ofIhc workday, If aII gocs wcII, Ihc capIIaIIsIs hnd
IhcmscIvcs,magIcaIIy,InposscssIonofsurpIus-vaIuc.1c"capIIaIIsIsIarcs
In asIonIshmcnI,' wrIIcs Marx wIIh hcavy Irony. ShouId noI Ihc vaIuc
ofIhc producI bc"cguaI Io Ihc vaIuc ofIhc capIIaI advanccd,'a sImpIc
addIngup ofaIIIhcvaIucsofIhcInpuIs (zp;) WhcrcdocsIhc surpIus-
vaIuccomcfrom,gIvcnIhcIawofcguIvaIcnccIncxchangcs"1croadIo
hcII,'wrIIcsMarxwIIhcguaIIrony,"IspavcdwIIhgoodInIcnIIons"(zp8).
SoIhccapIIaIIsIsIookforvIrIuousrcasonsIocxpIaInIhcsurpIus-vaIuc.
FIrsIod,consIdcrabsIIncncc.CapIIaIIsIsabsIaInfromprcscnIconsumpIIon
andInvcsIIhcmoncyIhcysavc.DoIhcynoIdcscrvcsomcrcwardforIhcIr
absIIncncc1IsIsaIhcmcIhaIcchocsIoudIyInIhcIongdcbaIcovcrIhc
roIc ofIhc ProIcsIanI cIhIc In Ihc rIsc of capIIaIIsm. Sccond, capIIaIIsIs
provIdc cmpIoymcnI Io pcopIc. If capIIaIIsIs dIdnI InvcsI IhcIr monc
IhcrcwouIdbcnocmpIoymcnI.Poorworkcrs CapIIaIIsIsarcdoIngIhcm
afavorbyInvcsIIngIhcIrmoncDonIIhccapIIaIIsIsdcscrvcsomcraIcof
rcIurnforIhaI1IsIsaprcIgcncraIandonIhcsurfaccraIhcrconvIncIng
argmcnIdocsnoIInvcsImcnIcrcaIcjobsI uscdIohavcIhIsargumcnI
wIIhmymoIhcraIIIhcIImc.Shc'dsay,"8uIofcourscwc nccdcapIIaIIsIs"
I'dsay,"Why,why"Andshcdsay,"WhowouIdcmpIoyworkcrsIfwcdIdnI
ttrok rkocrss tNo sukrtus-vttur : z
{
havccapIIaIIsIs"ShccouldnoIImagIncIhaIIhcrcmIghIbcoIhcrwaysIn
whIchyoucouldcmploypcopIc."CapIIalIsIsarcvIIaI,'shcwouIdsay,"and
HIsvcryImporanckccpIhcmaroundandIrcaIhcmnIccly,bccauscIf
IhcydIdIcmpIoylaorcrs,IhcworldwouIdbccomcaIcrrIbIcpIacc-Iook
whaIhappcncdInIhc:pos"1cIhIrdargumcnIIsIhaIcapIIaIIsIssayIhcy
workhard.1cyscIupIhcproducIIonproccss,managcIhIngs,puIInIhcIr
ownlabor-IImcandIakcaIhIsrIsk.Ycs,Indccd,manycapIIaIIsIswork,and
somcofIhcmworkhard,uIwhcnIhcyworkIhcyusuaIIypayIhcmscIvcs
IwIccovcr,I.c.,IhcypayIhcmsclvcs Ihc raIc ofrcIurn onIhccapIIaIIhcy
InvcsIandIhcypayIhcmscIvcsasmanagcrs.1cypayIhcmscIvcsasCOs
andIhcnIakcsIockopIIons.
Marx rcgards aII Ihcsc cxplanaIIons as subIcrfugcs and conjurIng
IrIcks
ThcwhoIcIIIany IhccapIIaIIsI] hasjusIrccIIcdwassImpIymcanIIopull
IhcwooIovcrourcycs.HchImscIfdocsnoIcarcIwopcnccforII.HcIcavcs
IhIs and a sImIIarsubIcrfugcsand conjurIngIrIcks Io Ihc profcssors of
poIIIIcaIcconomy,who arc paIdforII. HchImscIfIsapracIIcaIman,and
aIIhough hc docs noI aIays consIdcrwhaI hc says ouIsIdc hIsbusIncss,
wIIhInhIsbusIncsshcknowswhaIhcIsdoIng.oo)
CapIIalIsIsmayIndccdcfrugalandabsIaIn,andIhcymayaIsosomcIImcs
cxhIbII a bcncvolcnI aIIIIudc Ioward IhcIr workcrs (dcspcraIcIy IryIng
Io maInIaIn IhcIr workforcc In cmpIoymcnI whcn IImcs arc bad, for
cxamplc).Marx's poInI Is IhaI capIIaIIsIs could noI possIbIy susIaIn Ihc
whoIc sysIcm by appcaIs Io vIrIuc, moralIIy or bcncvoIcncc, IhaI Ihc
individua! bchavior otcapita!ists, varying trom bcncvo!cncc to vicious
grccd,isrrccvant towhatcapitaistsmust doin ordcrto bc capita!ists,
whIchIs,quIIcsImpIy, Ioprocurcsurplus-vaIuc.FurIhcrmorc,IhcIrroIc
Isdchncd,asMarxwIIlIaIcrpoInIouI,by"cocrcIvclawsofcompcIIIIon,'
whIchpushaIIcapIIaIIsIsIobchavcInsImIlarfashIonnomaIIcrwhcIhcr
IhcyarcgoodpcoplcorprovcrbIaIcapIIaIIsIpIgs.
1c full answcr Io Ihc probIcm ofcxpIaInIng surplus-vaIuc foIIows.
YoupayIhcvaIucofIabor-powcr,whIchIsscI,rccaIl,byIhcvaIucofIhc
commodIIIcs nccdcd Io rcproducc Ihc Iaborcr aI a gIvcn sIandard of
IIvIng. Thc laborcr sclls Ihc commodIIy Iabor-powcr, gcIs moncy, Ihcn
gocsandgcIsIhaIbundIcofcommodIIIcs nccdcdIoIIvc.8uIIIwIIIonIy
Iakc a ccrIaIn numbcr ofhours cach day for Ihc Iaborcr Io rcproducc
: z
(
A COMPANlON TO MARX' S CAPI7AI
Ihc cquIvaIcnI ofIhc vaIuc ofIabor-powcr.1crcforc,"Ihc daIIycosIof
maInIaInIngIabour-powcr"andIIsdaIIycrcaIIonofvaIucarcIwoIoIaIIy
dincrcnI IhIngs. "1c formcr dcIcrmIncs Ihc cxchangc-vaIuc of Ihc
Iabourpowcr, Ihc IaIIcr Is IIs usc-vaIuc' Labor, rccaII, Is In Ihc C-M-C
cIrcuiI,whiIccapIIaIIsInIhcM-C-M McIrcuII.
Tc facI IhaI haIfa day's Iabour is ncccssary Io kccp Ihc workcr aIIvc
during zhours docs noI inanyway prcvcnI him fromworkingawhoIc
day. Tcrcforc Ihc vaIuc of Iabour-powcr, and Ihc vaIuc which IhaI
Iabour-powcrvaIorizcs. . . inIhcIabour-proccss,arctwocnIircIydincrcnI
magniIudcsandIhisdincrcnccwaswhaIIhccapiIaIisIhadinmindwhcn
hc was purchasing Ihc Iabour-powcr . . . WhaI was rcaIIy dccisivc for
himwas Ihc spccihcusc-vaIucwhichtiscommodityposscsscsofbcing
asourcc noI onIyofvaIuc, buI of morc vaIuc than iI has iIscIf. Tis is
thcspccihcscrviccthccapitaIisI cxpccts from Iabour-powcr,andin this
transaction hc acts in accordancc with thc ctcrnaI Iaws ocoodit
cxchangc.InfacI,IhcscIIcrofIabour-powcrIhcIaborcr] ,IikcIhcscIIcrof
anyoIhcrcommodit,rcaIizcs . . . iIs cxchangc-vaIuc,andaIicnaIcs . . . iIs
usc-vaIuc.(cc-)
Thcrc Is a kcy dIsIIncIIon bcIwccn whaI Iabor gcIs and whaI Iabor
crcaIcs.SurpIus-vaIucrcsuIIsfromIhcdIdcrcnccbcIwccnIhcvaIucIabor
congcaIsIncommodIIIcsInaworkIngdayandIhcvaIucIhcIaborcrgcIs
for surrcndcrIngIabor-powcrasacommodIIyIoIhccapIIaIIsI.Laborcrs,
InshorI,arcpaIdIhcvaIucofIabor-powcr,andIhaIIsIhaI.1ccapIIaIIsI
IhcnpuIsIhcmIoworkInsuchawayIhaInoIonIydoIhcyrcproduccIhc
vaIucofIhcIrownIabor-powcr,IhcyaIsoproduccsurpIus-vaIuc.1cusc-
vaIucofIabor-powcrIoIhccapIIaIIsIIsIhaIIIIsIhconccommodIIyIhaI
canproduccvaIucandhcncc surpIus-vaIuc.
1crcarc,ofcoursc,IoIsofsubIIcIIcsIobcconsIdcrcd.Wcknowfrom
IhcprcviouschapIcr,forcxampIc,IhaIIhcvaIucofIabor-powcrIsnoIahxcd
magnIIudcbuIvarIcsaccordIngIphysIcaInccds,IhcdcgrccofcIvIIIzaIIon
In acounIry,Ihc sIaIc ofcIass sIruggIc and aII Ihc rcsIofII. SoIhcvaIuc
ofIabor-powcr In Swcdcn Is radIcay dIncrcnI from IhaI In ThaIIand or
ChIna.8uIMarx,InordcrIosImpII[IhcanaIysIs,hcrcassumcsIhcvaIucof
Iabor-powcrIsahxcddu/um. AndInagIvcnsocIcIyaIagIvcnIImc,wccan
sayroughIywhaIIhcvaIucofIabor-powcrIs.ThIsaIIowsMarxIoprcsumc
IhaIcapIIaIIsIswIIIpayIhcmvaIucofIhaIIabor-powcr(cvcnIhoughIhcy
maysIruggIcmIghIIIy In pracIIccIo payIhcIrworkcrs Icss) andsIIIIusc
ttror rrocrss tNo surrtus-vttur 1 2j
II,whaIcvcr IhaImvaIucIs,Io crcaIcsurpIus-vaIuc bymiIkIngIhc gap
bctwccn whaI Iabor gcIs and IhcvaIuc IhaI Iabor makcs.1Isgap canbc
procurcdbccauscIhccapIIaIIsIhasconIroIovcr(a)whaIIhcIaborcrdocsIn
IhcfacIoryand(b)IhcproducI.8uIhIddcnwIIhInIhIsargumcnIIsanoIhcr
varIabIc IhaI Marx has ycI Io anaIyzc cxpIIcIIIy. how Iong Is Ihc Iaborcr
conIracIcdIoworkdurIngIhcdayIfIaborcrsproduccIhccquIvaIcnIvaIuc
ofIhcIr Iabor-powcr In sIxhours,Ihcn pIaInIyIhc capIIaIIsI can procurc
surpIusvaIuc onIy by conIracIIng Ihcm Io work morc hours Ihan IhaI.
IfIhcworkdayIsIcnhours,IhcnIhccapIIaIIsIgaIns fourhours'worIh of
surpIus-vaIuc.1IsIswhaIpcrmIIsIhccxIracIIonofsurpIus-vaIucInaway
IhaIdocsnoIInanywayvIoIaIcIhcruIcsofcxchangc.
R Is aI IhIs poInI IhaI wc nccdIo rcmInd ourscIvcs ofIhc duaIIIy of
Marx's projccI.WhaIhc wIshcs Io showhcrc Is IhaI cvcn In apcrfccIcd
IIbcraI socIcIy whcrc aII Ihc ruIcs of cxchangc arc pcrfccIIy obcycd,
capIIaIIsIs havc a way of cracIIng surpIus-vaIuc from Iaborcrs. 1c
IIbcraI uIopIa Iurns ouI Io bc noI so uIopIan acr aII, buI poIcnIIaIIy
dysIopIan for Ihc Iaborcrs. Marx Is noI sayIng IhaI wagc dcIcrmInaIIon
acIuaIIy works IhIs way, buI IhaI Ihc Ihcscs ofcIassIcaI IIbcraI poIIIIcaI
cconomy (and IhIs carrIcs ovcr Io our ncoIIbcraI IImcs) arc scrIousIy
warpcdInfavorofcapIIaI.1c wodoffrccdom,cquaIIIy, propcrIyand
8cnIhamIsamask,arusc,IopcrmIIIhccxIracIIonofsurpIus-vaIucfrom
IaborcrswIIhouIvIoIaIIngIhcIawsofcxchangc.
Marx, hang scI ouI hIs mndamcnIaI Ihcorcm-IhaI surpIus-vaIuc
orIginaIcs hom Ihc dIdcrcnccbcIwccnwhaIIabor gcIsforIIs Iabor-powcr
asacommodIIyandwhaIIhcIaborcrproduccsInaIaborproccssundcrIhc
commandofcapIIaI-ImmcdIaIcIysIaIcsahosIofcavcaIs.Hcobscrvcs,for
cxmpIcIhIIhIImcspnIInprouIIonotsoIymsoIM stssoIIy
ncccssaryfor Ihc producIIon ofa usc-vaIuc,' and IhIs dcpcnds on Iabor-
powcrmncIIonIngundcr"normaIcondIIIons'1IsraIscsIhcqucsIIon.whaI
IsnormaI Thc Iabor-powcrshouId,morcovcr,bc of"normaIcdccIIvcncss'
againIcavingopcnIhcqucsIIonofwhaInormaIIs,cxccpIIosayIhaIIhIsw
varyfromoncIradcIoanoIhcrandIhaIIImcansposscssIng"IhcavcragcskiII,
dcxIcrIIyandspccdprcvaIcnIinIhaIIradc'1cIabormusIaIso
bc cxpcndcd wth thc avcragc amount otcxcrton and thc usuaI dcgrcc
otntcnsty, andIhccaptaIstIs as carctuI to sccths Isdonc,as hc s to
cnsurcthathsworkmcnarcnotIdIctorasngIcmomcnt. (]o])
t z6 A COMPANION TO MARX' S CAPI7AI
hc casuaI InIroducIIon of Ihc qucsIIon of "usuaI InIcnsIIy" hcrc Is
sIgnIhcanI, for IIcrupIs IaIcr asa crucIaI aspccIofIabor conIroI bccausc
"momcnIs"arc"IhccIcmcnIsofprohI"(],z).InaIIIhIs,IhccapIIaIIsI"InsIsIs
onhIsrIghIs"undcrIhcIawofcxchangcs,IofuIIuscofIhccommodIIyIhaI
hasbccnpurchascdandIhcrIghIIopcnaIIzc Ihosc whodonoIcoopcraIc
fuIIywIIhhIsdcsIrcs.hcscrIghIsIncIudcIhaIIabornoIbcwasIcd,IhaI
aII wasIcfuI consumpIIon of raw maIcrIaI or InsIrumcnIs of Iabour
Is sIrIcIIy forbIddcn, bccausc whaI Is wasIcd In IhIs way rcprcscnIs a
supcruous cxpcndIIurc of guanIIIIcs of objccIIhcd Iabour, Iabour IhaI
docsnoIcounIInIhcproducIorcnIcrInIoIIsvaIuc.(c)
WhaIwchcrcsccouIIIncdIsacharIcrcovcrIngIhccapIIaIIsIconIroIovcr
IhcIaborproccss,andIIIsIhroughIhcImpIcmcnIaIIonofIhcscconIroIs
IhaI Ihc qucsIIon of whaI Is socIaIIy cccssary In Ihc Iabor proccss
bccomcsmorccIcarIydchncd.1couIcomcIs,surprIsc,aduaIIIy|
TcproducIIonproccss,consIdcrcdasIhcunIIyofIhcIabourproccssand
IhcproccssofcrcaIIngvaIuc,IsIhcproccssofproducIIonofcommodIIIcs
consIdcrcd as Ihc unI of Ihc Iabour proccss and Ihc proccss of
vaIorIzaIIon,IIIsIhccapIIaIIsIproccssofproducIIon,orIhccapIIaIIsIform
ofIhcproducIIonofcommodIIIcs.(]c()
AgaIn, Marx dIsIInguIshcs bcIwccn Ihc producIIon of commodIIIcs In
gcncraIandIhcspccIhccapIIaIIsIformwhIchuscscommodIIyproducIIon
IogaInsurpIus-vaIuc,IhuscsIabIIshIngadIhcrcnIkIndofunIIy.
FInaIIy,hcrcIurnsIo Ihc fraughIqucsIIonofhowIo accounIforIhc
ImpacI ofskIII dIhcrcnIIaIIons wIIhIn Ihc Iabor proccss. SkIIIcd Iabor
Is consIdcrcdassImpIcIabor"wIIhahIghcrspccIhcgravIIyas IIwcrc'
1IsIsIaborof"amorccosIIykInd,Iabour-powcrwhoscproducIIonhas
cosImorcIImc andIabourIhanunskIIIcdorsImpIcIabour-powcr,and
whIch Ihcrcforc has a hIghcrvaIuc'and In Iurn"bccomcs objccIIhcd,
durIng an cquaI amounI of IImc, In proporIIonaIIy hIghcr vaIucs"
(]c(,). InIhcfooInoIc(]c,), howcvcr,hcpoInIsouIIhaImanyofIhcsc
skIIIdIsIIncIIons arcIIIusoryor arbIIrary and IhcmscIvcs dcIcrmIncd
socIaIIy and hIsIorIcaIIy. 1crc Is a Iong hIsIory of IhIs, whIch Marx
brIcdyaIIudcs Io buI whIch couId do wIIhsomccIaboraIIon. I found
In my own work on Sccond mpIrc ParIs, for cxampIc, IhaI Ihc
ttrok rkocrss tNo sukrtus-vttur
dcnnIIIon of"skIII"was hIghIygcndcrcd.AnyworkIhaIwomcn couId
do was vIcwcd as unskIIIcd, so whcn womcn bcgan Io cnIcr a Iradc,
IhccdccIwasIodcskIIIIhcIabor.ThIsparIIyaccounIsforIhchosIIIIIy
ofsomc arIIsanaI groups Io womcn's cmpIoymcnI and for Proudhon's
InsIsIcncc IhaI womcn dId noI bcIong In Ihc workshop buI shouId
sIayaI homc.1c Issuc ofwomcn's cmpIoymcnI Ihcnbccamc a maj or
sourcc ofIcnIonwIIhInIhc FIrsI InIcrnaIIonaI InIhc86cs.ThIsdocs
noI hcIp, howcvcr, wIIh IhcIssuc ofhow Io accounI for IaborwhIch
Is hIghIy IraIncd and Ihcrcforc cosIIyIo producc and maInIaIn. Marx
agaIn bypasscs IhIs IhornyIssuc by assumIng IhaI"In cvcryproccss of
crcaIIngvaIuc,'Ihc"hIghcrIypc ofIabour"canbcrcduccdIo"avcagc
sImpIc Iabour"andIhaIwc canIhcrcby assumc"IhaIIhc Iabour ofIhc
workcrcmpIoycdbyIhccapIIaIIsIIsavcragcsImpIcIabour"(]c6).1crc
arcInfacIsomc scrIousdIcuIIIcswIIhIhIsargumcnI,whIchIsknown
asIhc rcducIIonfrom-skIIIcd-Io-sImpIc-aborprobIcm.8uI I,Ioo,wIII
bypassIIhcrc,IcavIngyouwIIhaqucsIIonmarkIobc cxamIncdIaIcr.
ThcIcngIhyfooInoIconIhcrcIaIIonshIp bcIwccn sIavcryandwagcIabor
(]c]() dcscrvcs somc commcnI. Whcn Ihc Iwo Iabor sysIcms coIIIdc
and bccomc compcIIIIIvc wIIh cach oIhcr, Ihc cdccIs arc parIIcuIarIy
pcrnIcIous. SIavcry bccomcs morc bruIaI undcr Ihc compcIIIIvc Iash
ofmarkcI InIcgraIIons InIo capIIaIIsm,whIIc, convcrscIy, sIavry cxcrIs
sIrong ncgaIIvc prcssurcs on boIh wagcs and condIIIons ofwork. Any
kInd ofhumanrcIaIIonshIp IhaI mIghIhavc prcvIousIy cxIsIc bcIwccn
masIcrandsIavcwIIIIIkcIybcdcsIroycd.Ofcoursc,sIavcryvarIcsagrcaI
dcaIInwhaIIIIsabouI,buIIIIsnoIabouIIhcproducIIonofvaIucInIhc
senscIhaIMarxmeansiRenaiIsaicrcnkinotIaorroccss.crc
IsnoabsIracIIaborInapurcsIavcsysIcm.ThIswaswhyArIsIoIIccouId
noI formuIaIc aIabor IhcoryofvaIuc-bccausc IhIs IhcryonIyworks
InIhc casc offrccIabor.Rcmcmbcr,vaIucforMarxIsnoIunIvcrsaIbuI
spccIncIowagcIaborwIIhInacapIIaIsImodcofproducIIon.
CHAPTERS 8 & : CONSTANT CAPITAL, VARIABLE CAPITAL
AND THE RATE OF SURPLUS-VALUE
InIhcncxIIwochapIcrs,MarxsccksIoboIhcIarI[andconsoIIdaIchIs
IhcoryofsurpIus-vaIuc,aIhcoryIhaI,asngcIsnoIcsInhIsInIroducIIon
IoVoIumc IIofCui/u/, "sIruckhomcIIkc aIhundcrboII ouI ofa cIcar
t z8 t comrtNioN fo mtkx:s CAP7AI
sky'1cscchapIcrs arc noIcompIIcaIcd, so I wIII goovcr Ihcm faIrIy
IIghIIy.
Marx hrsI csIabIIshcs a dIsIIncIIon bcIccn whaI hc caIIs consIanI
and varIabIc capIIaI. ConsIanI capIaI Is pasI Iabor aIrcady congcaIcd
In commodIIIcs IhaI arc uscd as mcans ofproducIIon In a currcnI Iabor
proccss.ThcvaIucofIhcmcansofproducIIonIsaIrcadygIvcn,andsoIhc
qucsIIonIswhaIhappcnsIoIhaIvaIucwhcnIIIsIncorporaIcdInIoIhcncw
Iaborproccss.MarxargucsIhaIIhcvaIuc sImpIygcIsIransfcrrcdInIoIhc
ncwcommodIIy. ThIsvaIucvarIcs accordIngIo Ihc producIIvIIyofIhosc
IndusIrIcs producIngrawmaIcrIaIs,machIncry, cIc.,soIo caIIIhIs capIIaI
"consIanI"IsnoIIorcgardIIascd.AMarxwanIsIosIgnaIhcrcIsIhaI
IhcvaIucofIhcmcansofproducIIondowsIhroughIhcIaborproccssIobc
congcaIcdInIhcncwcommodIIy.1cvaIucrcmaInsconsIanIasIIdows.
Thc acIuaI proccss ofIransfcr ofvaIuc Is compIIcaIcd by a varIcIy
ofspccial circumstanccs. otton gocs into a shirt, and in this instancc
Ihc coIIon physIcaIIy cnds up bcIng Ihc subsIancc of Ihc shIrI, so II Is
rcasonabIc Io say IhaI IhcvaIuc ofIhc coIIon Is IncorporaIcd InIo Ihc
shIrI. 8uI Ihc cncrgy uscd In producIng Ihc shIrI docsn'I cnd up In Ihc
shIrI.AndyouccrIaInIywouIdnIIIkcIIIfbIIsofamachInc cndcd up In
Ihc shIrI.A dIsIIncIIon cxIsIs, Ihcrcforc, bcIwccn Ihc physIcaI Iransfcrs
andIhccIrcuIaIIonofvaIucs.ThcIwo cIrcuIaIIonproccsscsarcdIdcrcnI
bccausc coIIon Is aphysIcaI,maIcrIaI usc-vaIuc buIvaIuc Is ImmaIcrIaI
and socIaI (buI ncvcrIhcIcss, as was carIIcr argucd, objccIIvc). 1c raw
maIcrIaIsaIsoconIaInaccrIaInamounIofpasIvaIuc,asdoIhcmachIncs
and oIhcr InsIrumcnIs ofIabor.AII Ihcsc accumuIaIcd pasIvaIucs arc
broughI InIo a ncw producIIon proccss In Ihc form of dcad Iabor IhaI
IIvIngIaborrcanImaIcs.SoIhcIaborcrIncdccIprcscrvcsIhcvaIucsaIrcady
congcaIcd In raw maIcrIaIs,parIIaIIy manufacIurcd producIs, machIncs
andIhcIIkcanddocssobyusIngIhcmup (InproducIIvcconsumpIIon).
MarxIsgoIngIomakc agrcaI dcaIofIhcfacI IhaIIhcIaborcrdocsIhIs
favorforIhccapIIaIIsIgraIIs.
1csc pasI uscvaIucs and IhcIr congcaIcd vaIucs don'I and can'I
crcaIc anyIhIngncw. Thcy arc sImpIyuscdandprcscrvcd.MachIncs,for
cxampIc,cannoIcrcaIcvaIuc.1IsIsanImporIanIpoInI,sInccIIIsohcn
hcId, fcIIshIsIIcaIIy, IhaI machIncs arc a sourcc ofvaIuc. 8uI In Marx's
accounIIng schcma, Ihcy absoIuIcIy arc noI. AII IhaI happcns Is IhaI
IhcvaIuc ofIhc machInc Is Iransfcrrcd InIo Ihc commodIIydurIng Ihc
Iaborproccss.8uIwIIh machIncs IhcrcIsa probIcm,bccauscamachInc
ttrok rkocrss tNo sukrtus-vttur 1 2Q
mayIasIforIwcnIyycars, and you arc producIng IoIs ofshIrIswIIh II,
so Ihc qucsIIon Is how much ofIhc vaIuc ofIhc machInc cnds up In
cach shIrI 1c sImpIcsIwayIo accounI for Ihc dow ofvaIucfromIhc
machInc InIo Ihc shIrI Is Io sayIhaI,forcxampIc, onc-IwcnIIcIh ofIhc
vaIuc ofa machInc IhaI IasIs IwcnIyycars wIII dow cach ycar InIo Ihc
shIrIsproduccdInIhaIycar.1cIaborproccss prcscrvcsaIIIhcscvaIucs
by passIngIhcmIhrough InIo Ihc commodIIyIobcsoIdonIhcmarkcI.
1Iscanhappcn,noIIcc,onIybccauscvaIucIsImmaIcrIaIbuIobjccIIvc,so
IIIsopcnIobcIngsocIaIIyacconIcdforInIhIsway.
Thcn Ihcrc Is Ihc varIabIc capIIaI, Ihc vaIuc gIvcn ovcr Io hIrIng Ihc
Iaborcrs. How docs IhIs cIrcuIaIc, and wIIh whaI conscqucnccs Dcad
IaborIsrcsuscIIaIcdandpasscdonInIoIhcvaIucofIhcncwcommodIIy
byIIvIngIabor.ThIs IsavcryImporIanIIdcaforMarx,andyou can scc
ImmcdIaIcIyIIspoIIIIcaIsIgnIhcancc.LaborcrshavcIhcpowcrIodcsIroy
consIanI capIIaI (c.g., machIncs) sImpIy by rcfusIng Io workwIIh II. If
Iabor Is wIIhdrawn (and "producIIvc consumpIIon" ccascs), Ihcn Ihc
IransfcrofcapIIaIfromIhc machInc Io Ihc hnaI producI sIops,andIhc
vaIucofIhcconsIanIcapIIaIIsdccrcascdorIoIaIIyIosI.CIcarIy,IhcIaborcr
IspoIcnIIaIIycmpowcrcdbyIhIs,andIoIhcdcgrccIhaIIaborcrspcrform
IhIsmncIIonIhcyshouIdsurcIycIaIm somc sorIofrcmuncraIIonforso
doIng.AhcraII,IfcapIIaIIsIscanargucforIhcrIghIIo surpIus-vaIuc on
IhcgroundsIhaIIhcybrIngcmpIoymcnIIoIaborcrs,whycannoIIaborcrs
argucIhaIIhcydcscrvcsurpIus-vaIucbccauscwIIhouIIhcIrcdorIsaIIIhc
consIanIcapIIaIhcIdbycapIIaIIsIswouIdbcvaIucIcss
ThcIaborcrs aIso add vaIuc by congcaIIng socIaIIy ncccssaryIabor-
IImc In producIs. 8uI Ihc vaIuc Ihcy crcaIc has Iwo componcnIs FIrsI
!h6 8D0I6IS h8V6 !0 QI0duC6 eoughvaIueIocoverthecostsottIrown
hIrIng.ThIs,whcnrcndcrcdInIomoncy-form,pcrmIIs IhcrcproducIIon
ofIabor-powcr aI a gIvcn sIandard ofIIvIng In agIvcnpIacc and IImc.
ThcIaborcrsspcndIhcIrmoncyIobuyIhc commodIIIcsIhcywanI,nccd
ordcsIrcInordcrIo IIvc. InIhIsway, varIabIc capIIaI IIIcraIIycIrcuIaIcs
Ihrough Ihc body ofIhc Iaborcr In Ihc C-M-C cIrcuIaIIon proccss IhaI
rcproduccs Ihc IIvIng Iaborcr Ihrough IndIvIduaI consumpIIon and
socIaI rcproducIIon. 1c sccond aspccI ofvarIabIc capIIaI conccrns Ihc
producIIonofsurpIus-vaIuc,IhcproducIIonofvaIucovcrandabovcIhaI
hIchwouIdbcrcquIrcdIorcproduccIhcIaborcrs aIagIvcn sIandardof
IIvIng.ThIs surpIusvaIuc produccs and rcproduccs Ihc capIIaIIsI.Marx
Is,IncdccI,proposIngavaIuc-addcdIhcoryofsurpIus-vaIucproducIIon.
1 j O t comrtNioN fo mtrx: s CAP7AI
1cIoIaIvaIucofIhccommodIIyIsmadcupofIhcvaIucofconsIanI
andvarIabIccapIIaIspIusIhcsurpIusvaIuc (c v s). IfIhccapIIaIIsI
Is Io gaIn surpIus-vaIuc, Ihcn II Is Ihc varIabIc parI IhaI nccds Io bc
conIroIIcd.Ahcr aII, machIncs donIgo on sIrIkc, and machIncs donI
bchavc In canIankcrous ways (Ihough Ihcy can somcIImcs appcar Io
bcIcmpcramcnIaI). Thc acIIvc cIcmcnI In Ihc IaborproccssIsvarIabIc
capIIaI.1IsIsIhc"form-gIvInghrc"ofIIvIngIaborappIIcdIoproducIIon.
AgaIn,IhcrcIsapoIIIIcaIpoInIIoIhIsargumcnI."Look,dcarworkcrs`
MarxIssayIng,"]ou arcIhconcswhoarcrcaIIydoIngaIIIhcworkhcrc.
You arc Ihc oncs who prcscrvcvaIucs from Ihc pasI.Youarc Ihc oncs
who rcproducc yourscIvcs bywayofyourIaborIng.Andyouarc Ihc
oncswhoproducc Ihc surpIus-vaIuc IhaIcapIIaI approprIaIcs so IaI
capIIaIIsIs can IIvc,aIIIoo ohcn InIuxury.ObvIousIy,II Isvcrymuch In
IhcInIcrcsIofIhccapIIaIIsIsIomakc surcIhaIyoudonIrccognIcyour
ccnIra roc and your massivc powcrs. cy prccr Ihaf you imaginc
yourscIfjusI goIng ouI and gcIIIng a jobwIIh a dcccnIwagc so IhaI
you can go homc and rcproducc yourscIf and your famIIy, prcfcrabIy
hI cnough Io comc back Io work Ihc ncxI day. You arc In a CM-C
cIrcuIaIIonproccss,andIhcyIhInkyou shouIdconhncyourambIIIons
IoIhaIsIaIIonInIIfc'MarxwanIsIocounIcrIhIsdcIIbcraIcfcIIshIzaIIon
byaIcrIIngIhcworkIngcIassIoIIsIrucposIIIon InrcIaIIonIo surpIus
vaIucproducIIonandcapIIaIaccumuIaIIon.
So Ihc fuII cIrcuIaIIon proccss of capIIaI has bccn dchncd, and Ihc
dchnIIIons ofconsIanI and varIabIc capIIaI arc IaId ouI."ThaI parI of
capIIaI'hcwrIIcsInsummaryform,
whIch Is Iurncd InIo mcans of producIIon, I.c. Ihc raw maIcrIaI, Ihc
auIIIary maIcrIaI and Ihc InsIrumcnIs ofIabour, docs noI undcrgo any
guanIIIaIIvc aIIcraIIon of vaIuc In Ihc proccss of producIIon. For IhIs
rcason,!caIIIIIhcconsIanIprIofcapIIaI,ormorcbrIcy,consIanIcapIIaI
. . . n Ihc oIhcr hand,IhaIparI ofcapIIaIwhIch Is Iurncd InIo Iabour-
powcrdocsundcrgoanaIIcraIIonofvaIucInIhcproccssofproducIIon.H
boIhrcproduccsIhccguIvaIcnI ofIIsownvaIuc andproduccsancccss,
asurpIus-vaIuc . . Ihcrcforc caIIIIIhcvarIabIcparI ofcapIIaI,ormorc
brIcy,varIabIccapIIaI.(];)
ThIs Icads InIo chapIcr p, whcrc Marx uscs Ihc caIcgorIcs hc hasjusI
dchncd and cxamIncs Ihc rcIaIIonshIps bcIwccn Ihcm In a morc
LA8OR PROCESS A~D SURPLUS-vALUE 1 j 1
sIrucIurcd way. Hc hcrc puIs hIs accounIIng haI back on. OsIcnsIbIy,
hc IsIookIng"for an cxacI cxprcssIonofIhc dcgrcc ofcxpIoIIaIIon of
Iabor-powcr.8uIIhcrcarcscvcraIraIIomcasurcshccomcsupwIIhIhaI
arc fInIcrcsI. ConsIdcr,for cxampIc, Ihc raIIo ofconsIanIIovarIabIc
capIIaI, cv. 1Is raIIo Is a mcasurc ofIhc producIIvIIy of Iabor, Ihc
vaIuc ofmcans ofproducIIon IhaI a sIngIc vaIuc unII ofIabor-powcr
can Iransform. Thc hIghcr Ihc raIIo, Ihc morc producIIvc Ihc Iabor.
1cn consIdcr Ihc raIIo of surpIus-vaIuc Io varIabIc capIIaI, sv. ThIs
mcasurcs Ihc raIc of cxpIoIIaIIon ofIabor-powcr. II Is Ihc amounI of
surpIusvaIucIhaIa sIngIcvaIucunIIofIabor-powcrcanproducc.1c
hIghcr Ihc raIIo, Ihc grcaIcr Ihc cxpIoIIaIIon ofIabor-powcr. FInaIIy,
Icrc Is Ihc raIc ofprohI,whIch Is Ihc raIIo of Ihc surpIus-vaIucIo Ihc
IoIaIvaIucuscd (consIanIpIus varIabIc capIIaI) or s(c v) . Thc raIc
ofprohI Is dIdcrcnI from Ihc raIc ofcxpIoIIaIIon. 1c IaIIcr capIurcs
how much cxIra Iabor Ihc Iaborcrs gIvc up Io Ihc capIIaIIsI In rcIurn
forIhcvaIucIhcyrcccIvc Io rcproduccIhcmscIvcs aI agIvcn sIandard
ofIIvIng. Ofcoursc, you can scc sIraIghI away IhaI Ihc raIc ofprohI
Is aIways Iowcr Ihan Ihc raIc ofcxpIoIIaIIon.Ifyou compIaIn abouI a
hIghraIcofcxpIoIIaIIon,IhcnIhccapIIaIIsIsmayshowyouIhcIrbooks
Io prvcIhaIIhcIr raIc ofprohI Is Iow. Soyou Ihcn arc supposcd Io
fccI sorry for Ihc capIIaIIsI and forgcI Ihc hIgh raIc of cxpIoIIaIIon|
Thc morc consIanI capIIaI cmpIoycd,IhcIowcrIhc raIc ofprohI (wIIh
cvcryIhIng cIsc hcIdcquaI). AIowraIcofprohI can accompanyahIgh
raIc ofcxpIoIIaIIon.ThIsIs goIng Io bc a crucIaI argumcnIforVoIumc
III ofCui/u/. CapIIaIIsIs IhcmscIvcs work on Ihc basIs ofIhc raIc of
proIandthcyIcndIoa!!ocatcthcircapita!accordingtowhcrcvcrthc
raIcotpIoIishighcsI.JcrcsuItisaIcndcIcy (drIvcnbycompcIIIIon)
IowardIhccquaIIzaIIonofIhcraIcofprohI.IfIIookaIasIIuaIIonand
I IhInk I can gcI a hIghcr raIc ofprohI ovcr Ihcrc, I Iakc my capIIaI
ovcrIhcrc.8uIIhaIdocsn'IncccssarIIyIcadmcIomakcgooddccIsIons
fromIhcsIandpoInIofmaxImIzIngIhcraIcofcxpIoIIaIIon,whIchIsIhc
kcycIcmcnIIhccapIIaIIsIshouIdbcInIcrcsIcdIn.InfacI,IhIsIswhcrc
Ihc fcIIshIsm ofIhc sysIcm capIurcs Ihc capIIaIIsI vcn If capIIaIIsIs
rccognIzcd aII IhIs,IhcrcwouIdn`IbcanyIhIngIhcycouId do abouI II.
CompcIIIIondrIvcsIhcmIomakc dccIsIons onIhcbasIs ofIhcraIcof
prohIraIhcrIhanIhcraIcofcxpIoIIaIIon.IfIhcygoIoabankIoborrow
moncy,IhcnIhcbankwIIImakcIIsdccIsIonsbascdonIhcraIcofprohI,
noIonIhcraIcofcxpIoIIaIIon.
: { z t comrtNioN fo mtrx:s CAP7AI
Ofcoursc,thcratioofsurplus-valucnotonlytothatportionofthccapital
fromwhichitdircctlyariscs,andwhoscchangcinvalucitrcprcscnts,but
alsotothcsumtotalof thccapitaladvanccd,iscconomicallyofvcrygrcat
importancc.Wc shall thcrcforc dcal cxhaustivcly with this ratio in our
thirdbook(]z])
InVolumcIII,Marxscckstoshowthatthisisoncofthcmcchanismsthat
drivcs capitalism into pcriodic criscs of falling ratcs of proht.I cannot
claboratconthishcrcanymorcthanMarxcan,soallIwanttocmphasizc
atthispointisthatyoushouldcarcfullynotcthcdistinctionbctwccnthc
ratcofproht,s/(c v),andthcratcofcxploitation,s/v.
For Marx,andfor thcworkcrs,itisthcratcof cxploitationthatrcally
mattcrs. Furthcrmorc, an undcrstanding of thc dynamics of capitalism
rcuircs an analysis of thc ratc of cploitation rathcr than thc ratc of
prot. othis is what ar conccntratcsonin thischaptcr.c ratcof
cxploitationcan,hcsays,bclookcdatinanumbcrofdicrcntways.You
canthinkof it as thc rclationship bctwccn surplus-labor (appropriatcd
by thc capitalist) and ncccssary labor (thc labor rcguircd to rcproducc
thcvalucof laborpowcr),as ncccssary labor-timcinrclationtosurplus
labortimcor,morcformally,asthcratioofthcvaluclaidouttopurchasc
labor-powcr vcrsus thc total valuc produccd minus that paid for labor-
powcr. Jc problcm, howcvcr,is that whilc all thcsc ratios makc scnsc,
thcrcisnowaywccanobscrvcthcminpracticc.H isnotasifabcllrings
thc momcnt in thc working day whcn laborcrs havc rcproduccd thc
valucofv (orspcntthctimcncccssarytoproduccv),sothcyknowthat
thcrcahcrthcyarcproducingsurplusvalucfor(orgivingovcrthcirtimc
frcc to) thc capitalist. Jclaborproccssis a continuous proccsswhich
cndswithacommoditywhoscvaluciscomposcdofc v s.
ilcthcdicrcntclcmcntsof valuccongcalcdinthccommodityarc
invisiblctothcnakcdcyc,Marxisgoingtomakcthcclaim,whichyoumay
not likc,thatthis modc of analysisactually produccs a farbcttcrscicncc
ofpoliticalcconomyprccisclybccauscitgctsbcyondthc fctishism of thc
markct. Jc bourgcoisic had produccd good cnough scicncc from thc
standpointofthcmarkct,butthcydotundcrstandhowthcsystcmworks
from thc standpoint of thc labor proccss,andto thc dcgrcc that thcy do,
thcyplainly wanttodisguiscit.Jcyhavcavcstcdintcrcstinsayingtothc
workcrsthatlaborisjustoncfactorofproductionthatyoubringtomarkct,
andthatisyourcontribution,forwhichyouwrcccivcafairrcmuncration
LA8OR PROCESS A~D SURPLUS-vALUE 1 j j
atthcgoIngwagcratc.ThcycannotpossIbIyconccdcthatIaborIsthcform
gIvIng,duId,crcatIvc hrcIn thctransformatIon ofnaturc that IIcsatthc
hcartofanymodcofproductIon,IncIudIngcapItaIIsm.orcanoncImagInc
thccapItaIIstpraIsIngworkcrsforathcvaIucthcyproducc,IncIudIng,of
coursc,thcsurpIus-vaIucthatundcrpInscapItaIIstproht.
Marx cnds thIs chaptcr wIth a fantastIc pIccc crItIquIng a tpIcaI
bourgcoIs rcprcscntatIonofthcworIdofIaborIng.1Isaroscwhcn
onchncmornIngInthcycar8]6,assauScnIor. . . amanfamcdboth
for hIs cconomIc scIcncc and hIs bcautIfuI sIyIc, was summoncd from
xfordtoManchcstcr,toIcarnInthcIattcrpIacccpoIItIcaIcconomyhc
taughtInthcformcr.(]]])
1c Manchcstcr IndustrIaIIsts wcrc upsct at thc poIItIcaI agItatIon to
IImIt thc Icngth ofthc workIng day to a"cIvIIIzcd"tcn hours, ahcr thc
shaIIow and not vcry cdcctIvc Factory Act of 8]] had shown that thc
statc apparatus was at Icast In prIncIpIc prcparcd to IcgIsIatc thc IcgaI
hours ofIaborIng. ScnIor argucd In a dctaIIcd pamphIct that what thc
workcrhadto dodurIngthchrstcIghthoursofthcdaywas toproducc
thc cquIvaIcntvaIuc ofaII thc mcans ofproductIon uscd up (constant
capItaI,InMarx'stcrms).SoScnIorhadnoconccptthatthcworkcrmIght
bctransfcrrIngthcvaIucsaIrcadycongcaIcdIncommodItIcsandtookthc
IudIcrousvIcwthatthc workcrhad to actIvcIy rcproducc thosc vaIucs.
1cncxtthrcchourswcrctakcn uprcproducIngthcvaIuc ofthcIabor
powcrcmpIoycd(thcvarIabIccapItaI) , andonIyInthchnaIhourwasthc
prohtofthccapItaIIst(thcsurpIus-vaIuc) produccd.1crcforc,aIwcIvc
h0uI ddj WdS dDS0u!6j 6SS6B!Id to gaInIngaproht.fthcIcngthotthc
workIngdaywcrcrcduccdfromtwcIvctocIcvcnhoursthcnaIIthcproht
wouId dIsappcar,andIndustrywouId ccasc tofunctIon.Marx'srcsponsc
_ IsscathIng."andthcprofcssorcaIIsthIs ananaIysIs' | hccxcIaIms (]]().
"ScnIor's Iast hour" Is a vuIgar cconomIc argumcnt, soIcIy dcsIgncd to
promotcthcIntcrcstsofthcmanufacturcrs.
In a funny kInd of way, howcvcr, ScnIor conhrms Marx's own
thcorIzatIon. It Is thc workcrs' tImc that Is of crucIaI vaIuc to thc
capItaIIsts,andthatIswhythcysodspcratcIynccdthattwcIhhhour.1c
struggIcto commandthcworkcr'stImcIIcsatthcorIgInofproht,whIch
Is cxactIywhatMarx's thcory ofsurpIus-vaIucposIts.1Isrcarms thc
rcIcvancc ofMarx's dchnItIon ofvaIuc as socIaIIyncccssaryIabor-.
t {( t comrtNioN fo mtrx: s CAP7AI
WhaI, Ihcn, Is socIaIIy ncccssary abouI Ihc IcmporaIIIIcs ofIaborIng
oI onIy musIcapIIaIIsIs commandIhc Iabor proccss, Ihc producI and
IhcIImcofIhcIaborcr,buIIhcymusIaIsosIrIvcIo commandIhcsocIaI
naIurc of IcmporaIIIy IIscIf. ScnIor rccognIzcs IhIs fundamcnIaI IruIh,
andMarx,usInghIscrIIIcaI IooIs andhIssIIuaIcdncssonIhc sIdc ofIhc
workcrs,IurnsIhc drossofScnIors argumcnIInIo arcvcIaIorymomcnI
1ccrIIIucofScnIor'sIasIhourIhcrcforcacuIrcsadoubIcsIgnIcancc
On Ihc onc hand, II aIIows Marx Io dcpIcI Ihc dcpIhs Io whIch Ihc
cconomIsIs can sInk In IryIng Io crcaIc apoIogcIIc argumcnIs for Ihc
capIIaIIsIcIass,whIIconIhcoIhcrIIncaIIyposIIIonsMarxIoIakconIhc
mndamcnIaIIruIhrcvcaIcdbyScnIor'spoIcmIc.IhaIcommandovcrIImc
IsaccnIraIvccIorofsIruggIcwIIhInacapIIaIIsImodcofproducIIon.1c
cxamInaIIonofScnIor's IasIhourIhcrcforc makcsforacrayIransIIIon
!0 !h0 B0X! Chd!0I, WhICh IS d dD0u! CdI!dIS! !IH0.
CHAPTER FI VE
JC YOtKn_ 8y
CHAPTER 10. THE WORKING DAY
ChapIcr c Is consIrucIcd In a dIhcrcnI wayand wrIIIcn In a dIhcrcnI
sIyIcIhanarcIhcprcccdIngchapIcrs.IIIsIIghIonIhcoryandIadcnwIIh
hIsIorIcaIdcIaII.YcIIIaIsoInvokcsabsIracIcaIcgorIcsnoIycIcncounIcrcd.
1IsIssobccauscMarxhcrcfocuscsonIhchIsIoryofcIasssIruggIcovcr
IhcIcngIhofIhcworkIngdy. IhavccommcnIcdbcforconIhccompIcx
InIcrwcavIngofIogIcaIandhIsIorIcaIargumcnIaIIonInCui/u/ andforIhc
mosIparIargucdIhaIwc arconsafcrgrounwIIhIhcIogIcaI argumcnI.
8uIhcrcIIIsIhchIsIorIcaInarraIIvcIhaI counIs-Ihough IIIsnoIbcrch
ofIhcorcIIcaI sIgnIhcancc. Wc hcrc cncounIcr a dccp IhcorIzaIIon of
IhcnaIurcofIImcandIcmporaIIIyundcrcapIIaIIsmaIIhcsamcIImcas
wc morc cIcarIy sccwhya capIIaIIsI modc ofproducIIonIs ncccssarIIy
consIIIuIcdIhroughandbycIass sIruggIc.
MarxbcgInsbyrcmIndingusaIIhcrcIsaworofdIhcrcnccbcIwccn
Ih Iabor IhcoryofvaIuc and Ihc vaIuc ofIabor-powcr. Thc Iabor Ihcory
of vaIuc dcaIs wIIh how socIaIIy ncccssary Iabor-Iimc Is congcaIcd In
commodIIIcsbyIhcIaborcr.ThIsIsIhcsIandardofvaIucrcprcscnIcdbyIhc
moncycommodIIyandbymoncyIngcncraI.hcIucofIabor-powcr,onIhc
ocrhandIssmpIy thc vaIuc ot that commodty soId thc markct as Iabor-
powcr. Vc ths commodty s Ikc othcr commodtcs ccrIanrcspccIs,
IIaIsohassomcspccIaIquaIIIIcsbccauscIhcrchcrccnIcrsInahIsIorIcaIand
moraIcIcmcnI.AfaIIurcIodIsIInguIshbcIwccnIhcvaIucofIabor-powcrand
IhcIaborIhcoryofvaIuccangcncraIcmndamcnIaImIsundcrsIandIngs.
"Wc bcgan wIIh Ihc assumpIIon' wrIIcs Marx, "IhaI Iabour-powcr
IsboughI and soId aI IIsvaIuc"and IhaI"IIsvaIuc,IIkc IhaI ofaII oIhcr
commodIIIcs, Is dcIcrmIncd by Ihc Iabour-IImc ncccssary Io producc
II" (](c). ThIs Is cquIvaIcnI Io Ihc IaborIImc Iakcn Io producc Ihosc
commodIIIcsnccdcdIorcproduccIhcIaborcraIagIvcnsIandardofIIvIng.
MarxassumcsIhaIIhIsvaIucIsxcd,cvcnIhoughwcknow(as docshc)
IhaIIIIs pcrpcIuaIIychangIng,dcpcndIngonIhccosIsofcommodIIIcs,
IhcsIaIcofcIvIIIaIIonandIhcsIaIcofcIasssIruggIc.
: { 6 t comrtNioN fo mtrx:s CAPI7AI
As workcrs add vaIuc Io commodIIIcs In Ihc Iabor proccss, Ihcrc
arrIvcs a poInI In Ihc day whcn workcrs wIII havc crcaIcd Ihc cxacI
cquIvaIcnI ofIhc vaIuc ofIhcIr own Iabor-powcr. cI us supposc, says
Marx, IhaI IhIs occurs ahcr sIx hours ofIaborIng. SurpIus-vaIuc arIscs
bccauscworkcrsIaborbcyondIhcnumbcrofhoursIIIakcsIorcproducc
IhcvaIuccquIvaIcnIofIhcIrIabor-powcr.HowmanycxIrahoursdoIhcy
work1aIdcpcnds onIhcIcngIhofIhcworkIngday.ThIsIcngIhIsnoI
somcIhIngIhaIcanbcncgoIIaIcdInIhcmarkcIasaformofcommodIIy
cxchangc In whIch cquIvaIcnI cxchangcs for cquIvaIcnI (as Is Ihc casc
wIIhwagcs) . II Is noI a nxcd buI a uId quanIIIy. H canvaryfrom sIx
hoursIoIcnhoursIoIwcIvchoursIofourIccnhours,wIIhanouIcrIImII
ofIwcnIy-fourhourswhIchIsImpossIbIcbccauscof"IhcphysIcaIIImIIs
IoIabour-powcr'andbccaus"IhcworkcrnccdsIImcInwhIchIosaIIs[
hIsInIcIIccIuaIandsocIaIrcquIrcmcnIs. . . 1cIcngIhofIhcworkIngday
IhcrcforcIucIuaIcswIIhInoundarIcsoIhphysIcaIandsocIaI|).
MarxIhcnscIsup a ncIIIIous dIscussIon bcIwccn a capIIaIIsI anda
Iaborcr.1c capIIaIIsI, as purchascr ofIhc Iabor-powcr, says hc has Ihc
rIghIIouscII asIongashccan.Hc Is,ahcraII,"onIycapIIaIpcrsonIncd
(rccaII IhaI Marx dcaIs wIIh roIcs, noI pcrsons). "HIs souI Is Ihc souI
ofcapIIaI,' and"capIIaI has onc soIc drIvIng forcc,Ihc drIvc Io vaIorIzc
IIscIf,IocrcaIc surpIus-vaIuc'CapIIaI,Marxsays,"IsdcadIabourwhIch,
vampIrc-IIkc"-and IhIs Is a chapIcr whcrc wc'II gcI a IoI ofvampIrcs
andwcrcwoIvcs runnIng around, a major dcparIurc from usuaI modcs
ofpoIIIIcaI-cconomIc IhcorIzIng"IIvcs onIyby suckIng IIvIng Iabour,
andIIvcsIhcmorc,IhcmorcIabourIIsucks'IfIhcIaborcrcaIIsIImc-ouI
orIakcsIImcod,"hcrobsIhccapIIaIIsI. . . ThccapIIaIIsIIhcrcforcIakcs
hIs sIand on IhcIawofcommodIIy-cxchangc.IkcaIIoIhcrbuycrs,hc
sccksIocxIracIIhcmaxImumpossIbIcbcncnIfromIhcusc-vaIucofhIs
commodIIy"(|z).
orkcrs,unIIkcmachIncsandoIhcrformsofconsIanIcapIIaI,answcr
back.ThcynoIcIhaIIhcyownIhIspropcrIycaIIcdIabor-powcr andIhaI
IhcIrInIcrcsIIsIo conscrvc IIsvaIucforfuIurc usc. Jhc capIIaIIsIhasno
rIghI Io squcczc so much ouI ofIhcm In cach day as Io shorIcn IhcIr
workIngIIfc.ThIsIs,saysIhcworkcr,
agaInsI our conIracI and Ihc Iaw ofcommodIIy cxchangc. I Ihcrcforc
dcmand aworng day ofnormaI IcngIh, and I dcmand II wIIhouI any
appcaI to your hcart, tor in moncy mattcrs scntimcnt is out ot pIacc
+nr wOKKINC DAY 1 j
dcmandanormaIworkIngdaybccausc,IIkccvcryothcrscIIcr,dcmand
thcvaIucofmycommodIty.](])
oIIcc,boIhworkcrsandcapIIaIIsIsIakcIhcIrposIIIonsaccordIngIoIhc
Iawsofcxchangc.MarxIsnoI,asyoumIghIcxpccIfromarcvoIuIIonary
thInkcr, advocaIIng aboIItIon of thc wagcs systcm, but has both thc
workcrsandIhccapIIaIIsIsagrcctoabIdcbythcIawsofmarkcIcxchangc,
cquIvaIcntforcquIvaIcnt.Thc onIy Issu conccrns how much usc-vaIuc
(thc capacIIyfor congcaIIngvaIucsIncommodIIIcs) IhcIaborcrIsgoIng
to gIvc up Io thc capItaIIst. Marx makcs IhIs movc bccausc, as I havc
cmphasIzcd, a kcy objcctIvc In Cui/u/ Is to dcconsIruct thc utopIan
proposItIons ofcIassIcaI IIbcraI poIItIcaI cconomy on IhcIr own tcrms.
"ThccapIIaIIsImaInIaInshIsrIghtas apurchascrwhcnhcIrIcsIomakc
thcworkIngdayasIongaspossIbIc'and
thcworkcr maInIaInshIsrIght asascIIcrwhcn hc wIshcsIorcducc thc
workIng day to a partIcuIar normaI Icngth. Thcrc Is hcrc thcrcforc an
antInomy, ofrIght agaInstrIght,bothcquaIIybcarIng thc scaI ofthc Iaw
ofcxchangc.cIwccn cquaI rIghts,forccdccIdcs.Hcncc,Inthc hIsIoryof
capIIaIIst productIon, thc csIabIIshmcnt of a norm forthc workIng day
prcscnIsItscIfas astruggIcovcrIhcIImItsofIhaIday,astruggIcbctwccn
coIIccIIvccapItaI, I.c. thc cIass ofcapIIaIIsts,and coIIcctIvcIabour, I.c. thc
workIngcIass. ](()
SonnaIIy,ahcr]((pagcs,wcgcIIoIhcIdcaofcIass struggIc.FInaIIy
Thcrc arc a numbcr of Issucs IhaI caII for cIarIncaIIon hcrc. Thc
acccptancc by both sidcs of a notion of "ri

hts is a fafcmcnf offacI

conccrnIng thc hcgcmony of bourgcoIs noIIons of rIghIs. uI Marx
ImmcdIatcIyIndIcatcsthaIthcprobIcmofthcIcngIhofthcworkIngday
cannotbcsoIvcdbyappcaItorIghtsandIhcIawsandIcgaIItIcsofcxchangc
(IhIs paraIIcIshIscarIIcrattackonProudhons conccptofctcrnaIjustIcc) .
Issucs ofIhIskIndcanbcrcsoIvcdonIythroughcIasssIruggIc,InwhIch
"forcc"dccIdcs bctwccn"cquaIrIghts'1IsnndInghasramIncaIIonsfor
undcrsIandIng Ihc poIIIIcs of contcmporarycapItaIIsm.In rcccnttImcs,
thcrchasbccnarcmarkabIcupsurgcIn"rIghtstaIk'andaIoIofpoIItIcaI
cncrgyhasbccnInvcstcdInIhcIdcathatthcpursuItofIndIvIduaIhuman
rIghIsIsaway(Ifnot/hc way)toshapcamorchumanccapItaIIsIsystcm.
hat Marx Is sIgnaIIng hcrc Is IhaI Ihcrc Is no way that many ofthc
:
{
8 t comrtNioN fo mtrx:s CAPI7AI
ImporIanIgucsIIonsposcdInrIghIsIcrmscanbc rcsoIvcdwIIhouIbcIng
rcformuIaIcdIncIass-sIruggIcIcrms.AmncsIyInIcrnaIIonaI,forcxampIc,
dcaIs wcII cnough wIIh poIIIIcaI and cIvII rIghIs buI has a hard IImc
cxIcndIng IIs conccrns Io cconomIc rIghIs bccauscIhcrc IsnowayIhaI
IhcsccanbcrcsoIvcdwIIhouIIakIngasIdc,cIIhcrIhaIofcapIIaIorIhaIof
Iabor.SoyoucansccMarx'spoInI.JhcrcIsnowayIo adjudIcaIc"faIrIy"
bcIwccncguaI rIghIs (boIhbcarIngIhc scaI ofIhc Iawofcxchangc) .AII
youcandoIsIohghIforyoursIdcofIhcargumcnIJhIschapIcrIhcrcforc
cnds on a vcry skcpIIcaI noIc abouI somc"pompous caIaIoguc ofIhc
InaIIcnabIc rIghIs ofman'asopposcdIowhaI canbc achIcvcd Ihrough
cIasssIruggIc((6).
"Forcc,'InIhIsconIcxI,docsnIncccssarIIymcanphysIcaIforcc(Ihough
IhcrchavccIcarIybccn InsIanccswhcnIhIshasbccncrucIaI) .JhcmaIn
hrus ofIhIs chapIcr conccrns poIIIIcaI forcc,Ihc capacIIyIo mobIIIc
and Io buIId poIIIIcaI aIIanccs and insIituIons (such as tradc unons)
IoInducnccasIaIcapparaIusIhaIhasIhcpowcrIo IcgIsIaIc a"normaI"
workIng day. InMarx's accounI, Ihcrc arc momcnIs ofpossIbIIIIy IhaI
can bc graspcd or IosI, dcpcndIng onIhc conIIngcncIcs ofIhc poIIIIcaI
sIIuaIIonandIhcrcIaIIonsofforccInpIay.1cIcchnIguchcrcIssImIIarIo
IhaIsosupcrbIyrcprcscnIcdInMarx'ssIudyIn 1c Ligh/ccn/h rumuirc
ofhow LouIs 8onaparIc camc Io powcr In Fncc In Ihc wakc ofIhc
faIIcd8(8rcvoIuIIonInParIs.JhcmaIcrIaIsInIhIschapIcrshcdaspccIaI
IIghIonMarx'swayofj

IIypursuIngaIhcoyofa capIIaIIsImodcof
producIIon onIhc onc hand and a dccp undcrsIandIng ofproccsscs of
hIsIorIcaIIransformaIIonofacIuaIIycxIsIIngcapIIaIIsIsocIaIformaIIons
onIhcoIhcr.Iass-sIruggIcouIcomcsarcnoIdcIcrmIncdInadvancc.
JhcInIroducIIonofcIasssIruggIcmarksaradIcaIdcparIurcfromIhc
IcncIsofboIh cIassIcaI and conIcmporarycconomIcIhcory. H radIcaIIy
changcs Ihc Ianguagc In whIch Ihc cconomy Is dcpIcIcd and shIhs Ihc
focus of conccrn. InIroducIory courscs In cconomIcs arc unIIkcIy cvcr
Io focus onIhc Icngh ofIhcworkIngdayas a scrIous Issuc. H was noI
dIscusscdIncIassIcaIpoIIIIcaIcconomy, cIIhcr.YcI hIsIorIcaIIyIhcrchas
bccnamonumcnIaIandongoIngsIruggIcovcrIhcIcngIhofIhcworkIng
day,IhcworkIngwcck,IhcworkIngycar(paIdvacaIIons)andIhcworkIng
IIfc (IhcrcIIrcmcnIagc),andIhIssIruggIcIssIIIIwIIhus.JIsIscIcarIya
fu

damcnIaIaspccIofcapIIaIIsIhIsIoryandaccnIraIIssucInacapIIaIIsI
modc ofproducIIon.WhaI arc wc Io makc of cconomIc IhcorIcs IhaI
IgnorcII
+nr wOKKINC DAY 1 j
V
Marxs vaIuc thcory, n contrast, Icads drcctIy nto ths ccntraI
gucston.JsssobccauscvaIucs socaIIyncccssaryIabor- /imc, whch
mcansthattmcsotthc csscnccwthncaptaIsm.AsthcoIdsaynghas
t,"1mcs moncylControIovcrtmc,othcrpcoplc`s tmcnpartcuIar,
has to bc coIIcctvcIy tought ovcr. H cannot bc tradcd. CIass struggIc
thcrctorchastomovcccntcrstagcnpoItcaI-cconomcthcoryaswcIlas
ntoaIIattcmptstoundcrstandthchstorcalandgcographcaIcvoIuton
otcaptaIsm. Rsat ths pont n Cui/u/ thatwc can startto apprccatc
thc"usc-vaIucotMarxslaborthcoryotvaIucandotsurplus-valuc.And
whIctwouIdbcwrongto trcatths as somc kndotcmprcal prootot
thcthcorctcaIapparatus,tccrtanIyIIustratcstsutItywhcntcomcsto
thcpractccotthcorctcalIyntormcdcmprcaIngury.
Sohow,thcn,docsMarxIcadusthroughthshstoryotstrugglcovcr
thcIcngth otthcworkngdayHcbcgnsbynotngthatcaptaIsmsnot
thconlykndotsocctynwhch surpIus labor andasrpIusproducts
cxtractcdtorthcbcnchtotsomc ruIngcIass
Wcrcvcr a part otsocctyposscsscs thc monopoIy ot thc mcans ot
producton, thc workcr, trcc or untrcc, must add to thc Iabour-tmc
ncccssarytorhs ownmantcnancc an cxtra quantty otIabour-tmc n
ordcrto producc thcmcansotsubsstcncctorthc owncrotthcmcansot
producton.||)
ButundcrcaptaIsm,surpIusIaborsconvcrtcdntosurpIus-valuc.Sothc
productonotasurplusproductsamcanstorthccaptalsttogansurplus-
vaIuc.Js mposcspartcuIarquaItcs on captaIst cxplotatonbccausc
Vdu0 dCCuHud!I0B IB H0B6j-I0IH, dS W6 68II6I S8W, IswIhotmt.
!n any cconomc tormaton ot soccty whcrc thc usc-vaIuc rathcr than
thc cxchangc-vaIuc ot thc product prcdomnatcs, surpIus Iabour w bc
rcstrtcdbyamorcorIcssconhncdsctotnccds,and. . . noboundIcssthrst
torsurpIusIabourwarsctromthccharactcrotproductontscIt.|,)
Furthcrmorc,bccauscthsappropratonoccursnasocctycharactcrzcd
by wagc Iabor, Iaborcrs arc not gong to cxpcrcncc thcr surpIus-valuc
producton n thc samc way that scrts and sIavcs cxpcrcncc surpIus
Iabor thc tctshsm otmarkct cxchangchdcs t) .Marx uscs thc corvcc
systcm n ccntraILuropcasan IIustraton.Hcrc,thcIaborcrwas torccd
t
(
o t comrtNioN fo mtrx: s CAPI7AI
tocontrbutcaccrtannumbcrotIabordaystothcIandowncrsuchthat
thc appropraton otsurpIus Iabor s totaIIy transparcnt. Jc trccng ot
thcscrts throughthcRussan cdct ot8]actuaIIycrcatcdastuatonn
whchthc corvcc systcmthatrcpIaccdt,organzcdundcrthcKcg/cmcn/
orguniquc, aIIowcd ccrtan dchntons ota day`s worktobcmadcHud
and opcn. JcIandowncrs thcboyars) argucdthata day`s Iabor s not
mcasurcdbyanactuaIday,butbyhowmuchworkbcaccompIshcd.
JsworkrcgurcmcntcouIdnotpossbIybcdoncnaday,sothatttook
morcandmorcactuaIdaystodoatormaIday`swork,untI"thczcorvcc
daysotthcKcg/cmcn/ orguniquc . . . amountto]6,daysnthcycar](8).
Jcrcsthcgcrmotavcrymportantdcahcrcwhchwcarcgongto
cncountcrscvcraItmcsnCui/u/. JcmcasurcottmcsHcxbIc,tcan
bcstrctchcdoutandmanpuIatcdtorsocaIpurposcs.!nthsnstancc,z
Iabordaysbccomc]6,actuaIdays.JssocaImanpuIatonottmcand
tcmporaIty s a tundamcntaI tcaturc otcaptaIsm aIso.As soon as thc
cxtractonotsurpIusIabor-tmcbccomcstundamcntaItothcrcpIcaton
otcIassrcIatons,thcnthcgucstonotwhattmcs,whomcasurcst,and
howtcmporaItys to bc undcrstoodmovcs to thc torctront otanaIyss.
1mcsnotsmpIygvcn,tssocaIIyconstructcdandpcrpctuaIIysubjcct
torcconstructonjustthnk,torcxampIc,howtmchorzonstordccson
makngn, say, thc hnancaI scctor havc shhcd n rcccnt ycars). !n thc
Kcg/cmcn/ orguniquc casc,thc strctchng ottmc was obvous.Laborcrs
kncwtuIIwcIIhowmuchsurpIusIaborthcywcrcgvng up to thc Iord
andhowtmc strctchngby aruIngcIasscontrbutcdto thsrcsuIt.But
thc thrustotthc FactoryActs n Brtan nthc nnctccnth ccntury-thc
ccntcrpccc otmuch otths chaptcr-wasvcrydHcrcnt. t was to"curb
captaI`s drvc towards a ImtIcss dranng away ot Iabour-powcr by
torcbIyImtngthcworkngdayonthcauthortyotthcstatc,butastatc
ruIcdbycaptaIstandIandIord](8) .
Marx`s tormuIaton poscsanmportant gucston. why wouId a statc
ruIcdbycaptaIstandIandIordagrccto,orcvcncontcmpIatc,curbngthc
IcngthotthcworkngdayotarnCui/u/ wchavconIycncountcrcdthc
hgurcs otthcIaborcrandthccaptaIst,sowhaton carthsthcIandIord
donghcrc CIcarIy, as Marx sccks toanaIyzca rcaI hstorcaI stuaton,
hchasto IookatthccxstngcIass conhguraton andhowcIassaIIanccs
mghtworkwhcn thc workcrs do nothavcdrcct acccss to statc powcr.
JcBrtsh statcnthchrsthaItotthcnnctccnthccnturywascsscntaIIy
organzcdthroughthcpowcrrcIatonotcaptaIstsandIandIords,andt
+nr wOKKINC DAY 1q1
wouIdhavcbccnmpossbIctoanaIyzcthcpoItcsotthcpcrodwthout
payng attcnton to thc roIc otthcIandcd arstocracy. Jcpowcr otthc
workng-cIass movcmcnt was n thc background. `part trom thc daIy
morc thrcatcnng advanccotthcworkng-cIassmovcmcnt,`Marxwrtcs,
thcImtngottactoryIabourwasdctatcdbythcsamcncccsstyastorccd
thcmanurngotLngIshhcIdswthguano.hcsamcbInddcsrctorprt
that n thc onc casc caustcdthc soIhad n thc othcrcasc sccd hoId
otthcvtaItorcc otthc naton at ts roots. crodcaI cpdcmcs spcakas
cIcarIy on ths pont as thc dmnshng mItary standard ot hcght n
rancc andGcrmany. ((8)
ItIaborsakcyrcsourcc,IkcthcIand,nthccrcatonotnatonaIwcaIth,
and t t s ovcrcxpIotcd and dcgradcd, thcn thc capacty to contnuc
productonotsurpIus-vaIucsundcrcut.ButtsaIsonthcstatc`sntcrcst
tohavcIaborcrswho can bccomc an cHcctvc mItarytorcc.JchcaIth
and htncss otthc workng cIasscs s thcrctorc otpoItcaI and mItary
ntcrcst as s rcmarkcdn thcIcngthytootnotc (8p ) . Inthc Franco-
PrussanWarot8;,torcxampIc,thcrapddctcatotthcFrcnchatthc
hands otthc Gcrmans was n part attrbutcd to thc supcrorhcaIth ot
thcGcrmanpcasantryrcIatvctothcmpovcrshcdFrcnchpcasantryand
workngcIass.Jhc poItcaI mpIcaton s thatt s mItarIydangcrous
to pcrmt thc dcgradaton ot thc workng cIasscs. Jhs ssuc bccamc
mportant n thcUSdurngWoIdWar II,partcuIarIywhcnt camcto
mobIzng cIcmcnts trom mpovcrshcd and n somc nstanccs racaIIy
dstnctpopuIatons.
crtshactoryActs,whchMarxocuscson,wcrcposcdbythc
statc and dcsgncd tor both cconomc and poItcaI/mItary rcasons,to
ImtthccxpIotatonotIvngIaborandprcvcnttscxccssvcdcgradaton.
Jc Iaw s onc thng,but cntorccmcnt s anothcr.Jhs brngs us to thc
mportanthgurcotthctactorynspcctors.whowcrcthcyandwhcrcdd
thcy camc trom Jhcywcrc ccrtanIy not radcaI Marxsts! Jhcycamc
tromthcprotcssonaIbourgcosc.JhcywcrccvIscrvants.Butthcydd
a prctty good ob ot coIIcctng ntormaton, and thcy pushcd hard to
dscpInc thc ndustraI ntcrcst accordng to statc rcgurcmcnts. Marx
wouId not havc bccn abIc to wrtc ths chaptcr wthout thc abundant
ntormaton thcy suppIcd. So why wouId a statc rcguIatcd by captaI
and IandIords cmpIoytactorynspcctors to do thswork Jhs swhcrc
12 t comrtNioN fo mtrx:s CAPI7AI
"thcdcgrccotcvIzatonnacountrycntcrsntothcpcturc,aswcIIas
bourgcosmoraItyandthcmItaryconccrnsotthcstatc.nnnctccnth-
ccntury Brtan, thcrc wcrc strong currcnts ot bourgcos rctormsm
c.g.,CharIcs Ockcns) thatthought somc otthc Iabor practccs thcnn
pIay shouId not cxst n anycvIzcd soccty. Jhs ntroduccs nto thc
dscusson that samc "hstorcaI and moraI cIcmcnt whch aHccts thc
vaIuc otIabor-powcr. So whIcthcworkng-cIassmovcmcntwasndccd
growng strongcr, t wouIdnot havc gottcnas tar as t dd wthout thc
assstanccotbourgcosrctormsm,partcuIarIythatstranrcprcscntcdby
thctactorynspcctors.
Jc tactory nspcctors had to contront thc probIcm ot how thc
workngdaymghtbcdchncdnpractcc.AtwhattmcsshouIdIaborcrs
gcttoworksthcstart-uptmcnsdcthctactoryoroutsdcthctactory
AndwhataboutbrcaksorIunchMarxguotcsannspcctors`rcport
`Jhc proht to bc gancd by t` ovcr-workng n voIaton ot thc Act)
`appcarstobc,to many,agrcatcrtcmptatonthanthcycanrcsst`. . . csc
`smaIIthcs`otcaptaItromthcworkcrs`mcaI-tmcsandrccrcatontmcs
arcaIsodcscrbcdbythctactorynspcctorsaspcttypItcrngsotmnutcs
`snatchng a tcw mnutcs` or, n thc tcchncaI Ianguagc ot thc workcrs,
`nbbIngandcrbbIngatmcaI-tmcs
Marx thcn guotcs thc kcy dca. "`Momcnts arc thc cIcmcnts otproht`
(],z) .thnkths acrucaItormuIaton.CaptaIsts scckto capturccvcry
momcnt otthc workcr`s tmc n thc Iabor proccss. CaptaIsts do not
smpIybuyaworkcr`sIabor-powcrtortwcIvc hours, thcyhavcto makc
surc cvcrymomcnt otthosc twcIvchours s uscd atmaxmumntcnsty.
And ths,otcoursc,s what atactorydscpInaryand supcrvsorysystcm
saIIabout.
tyou can bcIcvc oId movcs,tcIcphonc opcrators oncchadtmc to
chatwthyou am oId cnough to rcmcmbcr cvcn Irtngwth thcm).
OpcratorsnowhavcastrctschcduIcotcaIIstohandIccvcryhour.tthcy
dont mcctthat schcduIc, thcy gct hrcd. And thc schcduIc s constantIy
tghtcnng, so you arc now prvIcgcd tyou can cIam morc than two
mnutcsotthcrtmc.I`vcrcadaboutanopcratorwhospcnthaItanhour
onthcphoncwthachIdwhoscmothcrcvdcntIyhaddcd,thcopcrator
was hrcd tor tang to kccp to schcduIc. 1hs s charactcrstc otIabor
proccsscsgcncraIIy. Jc captaIstwantsthc tmc,wantsthoscmomcnts
TH WORKINC DAY 1qj
IhaI arc Ihc cIcmcnIs ofprohI. ThIs Is a coroIIaryofIhc facI IhaIvaIuc
IssocIaIIyncccssaryIabor-.ForaIIIIsabsIracIncss,IhcvaIucIhcory
rcvcaIs somcIhIng ImporIanI abouI daIIypracIIccs and cxpcrIcnccs on
Ihcshopdoor.IIIouchcsIhcrcaIIIyofhowIhccapIIaIIsIbchavcs,andII
IouchcsIhc rcaIIIyofIhcworkcr'sIIfc.
InIhcIhIrdsccIIonofIhIschapIcr,MarxdIscusscsaIIcngIh"8ranchcs
ofngIIshIndusIrywIIhouILcgaILImIIsIoxpIoIIaIIon'IamnoIgoIng
Io go ovcr Ihcsc, bccausc Ihc appaIIIng accounIs ofIhc Iabor pracIIccs
InIhcmaIchIndusIry,waIIpapcr,IIncnsandbakIngInparIIcuIar(whcr

nIghIworkandIhcaduIIcraIIonofIhcbrcadwcrcabIgIssucs) arcfaIrIy
scIf-cvIdcnI.MarxaIso cIIcs IhcaccIdcnIsIhaIcan comc from ovcrwork,
such as onc on Ihc raIIways whcrc Ihc coroncr noIcd IhaI Ihc workcrs'
Iack of aIIcnIIon IhaI Icd Io Ihc accIdcnI probabIy rcsuIIcd from IhcIr
cxccssIvcIy Iong hours. Jhcn Ihcrc Is Ihc famous casc of Mary Annc
WaIkIcy,

2O ycars oId, cmpIoycd In a hIghIy rcspccIabIc drcssmakIng

csIabIIshmcnI"-In a sIIuaIIon whcrc "gIrIs work, on an avcragc, 6
hourswIIhouI a brcak, durIng Ihcscasonohcn]c hours,andIhcdow
of IhcIr faIIIng Iabourpowcr' Is maInIaIncd by occasIonaI suppIIcs of
shcrry, porI orcohcc"-who quIIc sImpIy dIcdfrom ovcrwork (]6(,).
DyIngfromovcrworkIsnoIsomcIhIngIhaIIsconhncdIoIhcnIncIccnIh
ccnIury.ThcapancschavcaIcchnIcaIIcrmforII,kuro:hi. copIcdodIc
from ovcrwork, and manypcopIc's IIfcIImcs arc shorIcncd Ihrough Ihc
ovcrwork Ihcy suhcr or from Ihc work condIIIons Ihcy cncounIcr. In
2OOy, IhcUnIIcdFarmWorkcrssucdCaIIfornIaOccupaIIonaISafcIyand
HcaIIhAdmInIsIraIIonfor noIproIccIIngfarmworkcrsInIhcsIaIcfrom
dcadIyhcaI,cIIIngIhrcccascsofnccdIcssdcaIhfromhcaIcxhausIIon.
Mar s here desrbIngwhaIhappenswhen Ihe powe eIatonshIp
bcIwccn capIIaI and Iabor bccomcs so IopsIdcd IhaI Ihc Iabor forcc Is
rcduccdIoaposIIIonofdcgradaIIonandcvcndrIvcnIounIImcIydcaIhs.
ThIsprobIcmIscxaccrbaIcdbyIhcrIscofIhcrcIaysysIcmdcscrIbcdIn
IhcfourIhsccIIonofIhIschapIcr.UncmpIoycdcapIIaIIsIosIcapIIaI,and
capIIaI,rccaII,IsnoIamachIncorasumofmoncy,buIvaIucInmoIIon.If
amachIncIsnoIbcInguscd,II'sdcadcapIIaI,soIhcrcIsprcssurcIouscII
aIIIhcIImc.ThcconIInuIIyofIhcproducIIonproccssbccomcsImporIanI,
parIIcuIarIyIn Ihosc IndusIrIcs,such as bIasI furnaccs andhcavy-mcIaI
cngInccrIng, cmpIoyIng Iargc amounIs ofhxcd-capIIaI cquIpmcnI. 1c
nccd Io kccp Ihc hxcd capIIaI cmpIoycd mandaIcs a IwcnIy-fourhour
workday. SIncc IndIvIduaIworkcrs cannoIworkIwcnIy-four hours, thc
I
t comrtNioN fo mtrx: s CAP7AI
rcIay systcm sdcvscd and thcn suppIcmcntcdbynght work and thc
shh systcm. Rcmcmbcr. workcrs not onIy producc surpIus-vaIuc, thcy
rcanmatc constant captaI. Jhc rcsuIt s nght-shh work va thc rcIay
systcm.Jcrc s, thcrctorc,nosuch thng as a"naturaI workngday,`only
varous constructons ott n rclaton to thc captalst rcgurcmcnt to
mantanacontnutyotHowataIIcosts.
Scctonj takcsup thcstruggIctor anormaIworkngday.Whatsthc
IcngthottmcdurngwhchcaptaImayconsumcthcIabor-powcrwhosc
daIyvaIucthaspadtorCaptaI,pIanly,s gongtotakcasmuchast
cangct.ForcaptaI,
t s scIt-cvdcntthatthcworkcr s nothngothcrthanIabour-powcr tor
thc duratonothswhoIcItc,andthatthcrctorc aII hsdsposabIctmcs
bynaturc and by rghtIabour-tmc,to bc dcvotcdto thc scIt-vIorzaton
otcaptaI j.c.,thc producton otsurpIus-vaIuc] . 1mc tor cducaton,tor
ntcIIcctuaIdcvcIopmcnt,tor thc tuIhImcnt otsocaItunctons,tor socaI
ntcrcoursc,torthctrccpIayotvtaItorccsothsbodyandhsmnd,cvcn
thcrcsttmcotSunday. . . whattooIshncss8utntsbIndandmcasurcIcss
drvc,ts nsatabIcappcttctor surpIusIabour,captaIovcrstcpsnotonIy
thcmoraIbutcvcnthcmcrcIyphyscaIImtsotthcworkngday.Husurps
thctmctorgroh,dcvcIopmcntandhcaIthymantcnanccotthcbody.!t
stcaIsthc tmcrcgurcdtorthc consumpton ottrcsh arandsunIght.H
haggIcs ovcrthcmcaI-tmcs,whcrcpossbIcncorporatngthcm nto thc
productonproccsstscIt.),-6)
aIways rcmcmbcr thc asscmbIy-lnc sccncs trom CharIc ChapIns
Aodcrn 1imc: whcnIrcadthcscpassagcs.CaptaI
rcduccsthcsoundsIccpnccdcdtor. . . rcstoraton,rcncwaIandrctrcshmcnt
. . . !t] asks no gucstons aboutthc Icn otItc ot Iabour-powcr.Wat
ntcrcststspurcIyandsmpIythcmaxmumotIabour-powcrthatcanbc
sctnmotonn aworkngday. H attansthsobcctvcbyshortcnngthc
Itc otIabour-powcr, n thc samcwayas agrccdytarmcr snatchcs morc
producctromthcsoIbyrobbngtottstcrtIty.)6)
JcparaIIclbctwccncxhaustonotthcsoIandotthcvtaIpowcrsotthc
laborcr cchocs thc tormuIaton n chaptcr whcrc Marx ctcs WlIam
Pctty`s commcntthat"IaboursthctathcrotmatcraIwcalth,thccarths
ts mothcr (]().But ths aIso mplcs that cxccssvc cxpIotaton otthc
fur workiNc ot\ 1
j
rcsourccs rcgurcd to producc aII wcaIth poscs a dangcr tor captaIsm
tscIt.At somcpontorothcr,thc captaIstwII aIso thnkthat anormaI
workngdaymghtnotbcabaddca.
It thcn thc unnaturaI cxtcnson ot thc worng day, whch captaI
ncccssarIy strvcs tor n ts unmcasurcd drvc tor scIt-vaIoraton,
shortcns thcItcotthc ndvduaI workcr, and thcrctorc thc duraton ot
hs Iabour-powcr, thc torccs uscd up havc to bc rcpIaccd morc rapdIy,
and t wII bc morc cxpcnsvc to rcproducc Iabourpowcr,just as n thc
casc otamachnc,whcrc thc part ottsvaIuc that has to bcrcproduccd
daIygrows grcatcr thc morc rapdIythc machnc sworn out. It wouId
sccmthcrctorcthatthc ntcrcstotcaptaItscItponts nthcdrcctonota
normaIworngday. (;;)
Jc probIcm, howcvcr, s that ndvduaI captaIsts n compctton wth
onc anothcr cannot stop pushng toward thc ovcrcxpIotaton ot thcr
hndamcntaI rcsourcc bascs, Iabor andthcIand. Jc potcntaI cxsts tor a
conHctbctwccnthccIassntcrcstotcaptaIstsna"sustanabIc Iabortorcc
andthcshort-tcrmndvduaIbchavorsotcaptaIststaccdwthcompctton.
JhcrctorcsomcImthastobcputoncompcttonbctwccnthcm.
SIavcowncrs,Marxponts out,can,tthcywsh,aHordtokIIoHthcr
sIavcsthroughcxccssvcworkprovdcdthcyhavcancwsourcc otchcap
sIavcsathand.ButthssaIsotructorthcIabormarkct.
tor sIavc tradc,rcad Iabour-markct, tor cntuc andVrgna, IrcIand
andthc agrcuIturaI dstrcts otLngIand,ScotIand andWaIcs,tor Atrca,
Gcrman. Wc havc hcard how ovcrwork has thnncd thc ranks ot thc
bakcrsnLondon.cvcrthcIcss,thcLondonIabourmarkctsaIwaysovcr
stockcdwthGcrmanandothcrcanddatcs tordcathnthcbakcrcs.(;8)
Marx hcrc ntroduccs anothcr mportant conccpt. that ot a surpIus
popuIaton.JspcrmtscaptaIststosupcr-cxpIotthcrworkcrswthout
rcgardtorthcr hcaIth or wcII-bcng. Otcoursc,thc surpIus popuIaton
has to bc acccssbIc tocaptaI.Marxhcrc ctcsthccascotthcPoorLaw
commssoncrs, who wcrc nstructcd to "scnd thc `surpIus popuIato
otthc agrcuIturaI dstrcts to thc north,wth thc cxpIanaton`that thc
manutacturcrs wouId absorb and usc t up` (;8) . AgrcuIturaI dstrcts
convcncntIy rd thcmscIvcs otthcr Poor Law obIgatons,at thc samc
tmcasthcyprovdcdsurpIusIabortorthcmanutacturngdstrcts.
1 t comrtNioN fo mtrx: s CAP7AI
Vh0! CXQCIICuCC _CuCI0y 8hCW8 !C !hC C0QI!0I8! I8 0 CCu8!0u! CXCC88 C
QCQu0!ICu, I.C. 0u CXCC88 Iu IC0!ICu !C C0QI!08 uCCO CI V0CII20!ICu 0! 0
_IVCu mCmCu!, 0!hCu_h !hI8 !hICu_ C QCCQC I8 m0OC uQ C _CuCI0!ICu8
C 8!uu!CO, 8hCI!-IVCO 0uO I0QIOy ICQ0CCO hum0u DCIu_8, QuCKCO, 8C !C
8QC0K, DCCIC !hCy WCIC IIQC . . . XQCIICuCC 8hCW8 !CC hCW !hC OC_CuCI0!ICu
C !hC IuOu8!II0 QCQu0!ICu I8 IC!0IOCO Cuy Dy !hC CCu8!0u! 0D8CIQ!ICu
C QIImI!IVC 0uO u0!uI0 CCmCu!8 ICm !hC CCuu!Iy8IOC, 0uO hCW CVCu
!hC 0_IICu!uI0 0DCuICI8, Iu 8QI!C C !hC IC8h 0II 0uO !hC `QIIuCIQC C
u0!uI0 8CCC!ICn !h0! WCIK8 8C QCWCIuy 0mCu_8! !hCm, 0uO QCImI!8
!hC 8uIVIV0 C Cuy !hC 8!ICu_C8! IuOIVIOu08, 0IC 0IC0O] DC_IuuIu_ !C OIC
Ch. (]8o)
P 8uIQu8 QCQu0!ICu 0hCC!8 WhC!hCI !hC C0QI!0I8! h08 !C C0IC 0DCu! !hC
hC0!h, WC-DCIu_ 0uO IC CXQCC!0uC] C !hC 0DCI CICC. P8 IuOIVIOu0
hum0u DCIu_8, C0QI!0I8!8 m0] C0IC. u! CICCO !C m0XImI2C QICh! CCmC
Wh0! m0y uudCI CCudI!ICu8 C CCmQC!I!ICu, IudIVIdu0 C0QI!0I8!8 h0VC uC
ChCICC.
PQIC8 mCI !C Ou_Cl I8 !hC W0!ChWCIO C CVCIy C0QI!0I8! 0uO C CVCIy
C0QI!0I8! u0!ICu. L0QI!0 !hCICCIC !0KC8 uC 0CCCuu! C !hC hC0!h 0uO !hC
Cu_!h C IC C !hC WCIKCI, uuC88 8CCIC!y CICC8 I! !C OC 8C. !8 0u8WCI
!C !hC Cu!CIy 0DCu! !hC Qhy8IC0 0uO mCu!0 OC_I0O0!ICu, !hC QICm0!uIC
OC0!h, !hC !CI!uIC C CVCI-WCIK, I8 !hI8. bhCuO !h0! Q0Iu !ICuDC u8, 8IuCC
I! IuCIC08C8 CuI QC08uIC [QICh!) u! CCKIu_ 0! !hC8C !hIu_8 08 0 WhCC,
I! I8 CVIOCu! !h0! !hI8 OCC8 uC! OCQCuO Cu !hC WI, CI!hCI _CCO CI D0O, C
!hC IuOIVIOu0 C0QI!0I8!. \uOCI ICC CCmQC!I!ICu, !hC Imm0uCu! 0W8 C
C0QI!0I8! QICOuC!ICu CCuICu! !hC IuOIVIOu0 C0QI!0I8! 08 0 CCCICIVC CICC
CX!CIu0 !C hIm. (]8)
C m0!!CI WhC!hCI !hCq 0IC _CCO- CI D0O -hC0I!CO, C0QI!0I8!8 0IC CtCCO D]
CCmQC!I!ICu !C Cu_0_C Iu !hC 80mC 0DCI QI0C!ICC8 08 !hCII CCmQC!I!CI8.
yCuI CCmQC!I!CI8 8hCI!Cu !hC IVC8 C !hCII 0DCICI8, ]Cu h0VC !C, !CC. J0!
I8 hCW !hC CCCICIVC 0W8 C CCmQC!I!ICu WCIK. JI8 QhI08C, `!hC CCCICIVC
0W8 C CCmQC!I!ICu, I8 _CIu_ !C CCmC D0CK Iu!C !hC 0I_umCu! 8CVCI0
!ImC8. PuO I!8 ImQCI!0u! !C uC!ICC 0! Wh0! QCIu! !hC8C CCCICIVC 0W8 Q0y
0 OCCI8IVC ICC, 08 !hC] OC hCIC.
JI8 DIIu_8 0IX !C CCu8IOCI !hC `CCu!uIIC8 C 8!Iu__C DC!WCCu !hC
C0QI!0I8! 0uO !hC WCIKCI !h0! h0VC CO !C `lhC C8!0DI8hmCu! C 0 uCIm0
WCIKIu_ O0 C Iu!CIC8!Iu_] uC!C8 !h0! `!hC hI8!CI] C !hI8 8!Iu__C
fur workiNc ot\ t
(/
dspIaystwo oppostc tcndcnccs (]8z). In mcdcvaI tmcs, t was vcry
dmcultto gct pcoplctobcwagcIaborcrs.ItthcycouIdn`tmakc aIvng
oHthc Iand tor thcmscIvcs,pcopIc bccamcvagabonds,bcggars or cvcn
hghwayrobbcrsIkc Robn Hood).So IcgsIatonwascnactcdto cod[
thcwagcrcIaton,cxtcndthcIcngthotthcworkngdayandcrmnaIzc
bcggars and vagabonds. n cHcct, a dscplnary apparatus was crcatcd
andMarxwII takc ths up agan n part 8) to socaIzc thc populaton
ntothcroIcotwagcIaborcrs.Vagabondswcrcwhppcdandputntothc
stocksbctorcbcngmandatcdtodoagoodday`sIabor.Andagood day`s
Iaborwas dchncdasaworkday ottwcIvchoursnthc hrst such statutcs,
whch datc trom ](p. Js was how Iabor dscpInc was mposcd n
Brtan.YouwII hnd smIar ssucs bcng rascd by coIonaI authortcs
durngthcnnctccnthccnturyandIatcr.JcywouIdrcportthat,say,thc
probIcmnndaorAtrcasthatyoucantgctthcndgcnouspopuIaton
to work a "normaIworkng day, Ict alonc a "normaIworkng wcck.
1hcy tpcallywork tor a bt and thcn dsappcar. Jc IocaI noton ot
tcmporaltydocsn`thtwththcdcaotcIocktmcandhndcrsthcabIty
otcaptaIststocxtractvaIucas momcntsthatarcthccIcmcnts otproht.
JcIackottmcdscpIncotIocalpopulatonswasatrcgucntcompIant
among coIonaI admnstrators, and trcmcndous cHorts wcrc madc to
nstIl labor dscpInc and an appropratc scnsc ottcmporaIty. I havc
hcardcontcmporaryunvcrstyadmnstrators makc smIar compIants
about studcnts and cvcn oncc suHcrcd a coursc trom thc cducatonaI
gcnuscsotHarvard,whonsstcdthatthchrstthngwchadtodototcach
undcrgraduatcspropcrIywastonstIIapropcr scnscottmcdscpInc. )
JcrcsnowancxtcnsvcItcraturconthcmcdcvaIandIatc-mcdcvaI
atttdc towad tmc as wcII as on thc tanstons that occurrcd n
tcmporaItywththcrscotcaptaIsm or,as somcprctcrto spcakott,
ot"modcrnty). Fornstancc,wc aII too casIytorgctthatthc hourwas
largcIyan nvcnton otthc thrtccnth ccntury, that thc mnutc and thc
sccondbccamc commonmcasurcsonIyasIatcasthcsc

cntccnthccntury
and that t s onIy n rcccnt tmc that tcrms Ikc "nanosccondshavc
bccn nvcntcd.Jcsc arcnotnaturaIbutsocaIdctcrmnatons,andthcr
nvcntonwasnotrrcIcvanttothctranstontromtcudaIsmtocaptaIsm.
WhcnFoucaulttaIks aboutthcrscotgovcrnmcntaIty,whathcs rcaIIy
taIkngaboutsthatmomcntwhcnpcopIcstartcdtontcrnaIzcascnscot
tcmporaIdscpIncandtoIcarntoIvcbyt aImostwthoutthnkng.1o
thc dcgrcc thatwc aIIhavc ntcrnaIzcdths scnsc,wc bccomccaptvcto
q8 A COMPANION TO MARX
'
S CAPI7AI
0 CCI!0In W0y C !DInKIn_ 0DCu! !CDQCI0I!y 0nd !DC QI0C!ICC8 !D0! 0!!0CD
!DCIC!C. CI 0IX, !DI8 !CDQCI0I!y 0II8C8 In IC0!ICn8DIQ !C !DC CDCI_CnCC
C V0uC 08 8CCI0y nCCC880Iy 0DCI-!IDC. Pnd CI DID, !DC ICC C C088
8!Iu__C I8 CCn!I0 In W0y8 !D0! CuC0u! !Cnd8 !C CV0dC CI dCWnQ0y. b0y8
0IX,
! h08 DCCn 8CCn !h0! !hC8C hI_hy OC!0ICO 8QCCIhC0!ICn8, WhICh IC_u0!C,
WI!h mII!0Iy unICImI!y, !hC !ImC8, !hC ImI!8 0nO !hC Q0u8C8 C WCIK
Dy !hC 8!ICKC C !hC CCCK, WCIC Dy nC mC0n8 0 QICOuC! C !hC 0n!08y C
CmDCI8 C 0II0mCn!. JCy OCVCCQCO _I0Ou0y Cu! C CIICum8!0nCC8
08 n0!uI0 0W8 C !hC mCOCIn mCOC C QICOuC!ICn. JCII CIDu0!ICn,
CmCI0 ICCC_nI!ICn 0nO QICC0m0!ICn Dy !hC 8!0!C WCIC !hC IC8u! C 0 Cn_
C088 8!Iu__C. (]q-)
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Du! C ICCC_nI2In_ !DC C088 Ch0I0C!CI C DC_CmCnIC CIm8 C !CmQCI0
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DCIC, DCC0u8C !DC I88uC C 8Q0!I0I!y 08C 0II8C8. JC IdCCC_I8!8 IKC !DC
0nCnyDCu8 0u!DCI C An L::u] on 1rudc und Commcrcc C ;;o, !DC
QICDCD I8 0 0!0 InCIn0!ICn !C C08C 0nd IndCCnCC Cn !DC Q0I! C !DC
WCIKIn_ QCQu0!ICn (8;).0IX QuC!C8 !DC C880y.
`JhC CuIC wnC! DC QCICC!, !I CuI D0nu0C!uIIn_ QCCI 0IC CCn!Cn!CO !C
0DCuI 8IX O0y8 CI !hC 80mC 8um WhICh !hCy nCW C0In In CuI O0y8. JC !hI8
CnO, 0nO CI `CX!IIQ0!In_ IOCnC88, OCD0uChCIy 0nO CXCC88, QICmC!In_ 0 8QIII!
C InOu8!Iy [0nO] `CWCIIn_ !hC QIICC C 0DCuI In CuI D0nu0C!CIIC8 . . . CuI
`0I!hu CK0I! . . . `QICQC8C8 !hC WC-!IICO mC!hCO C CCKIn_ uQ WCIKCI8
WhC DCCCmC OCQCnOCn! Cn QuDIC 8uQQCI! . . . In `0n IOC0 WCIKhCu8C. buCh
0n IOC0 WCIKhCu8C mu8! DC D0OC 0 `Cu8C C JCIICI . . . [WhCIC] !hC QCCI
8h0 WCIK q hCuI8 In 0 O0y, 0CWIn_ QICQCI !IDC CI DC08, u 8uCh 0
m0nnCI !h0! !hCIC 8h0 ICm0In zhCuI8 C nC0! 0DCuI. (]88)
0IX !DCn D0KC8 DI8 ICQy. JC CQuIV0Cn! C 8uCD 0 Cu8C C JCIICI CI
Q0uQCI8, DC WII!C8,
Cny OIC0DCO C Dy !hC C0QI!0I8! mInO In ;;o,W08 DICu_h! In!C DCIn_
0 CW yC0I8 0!CI In !hC 8h0QC C 0 _I_0n!IC `WCIKhCu8C CI !hC InOu8!II0
WCIKCI hIm8C. HW08 C0CO !hC 0C!CIy. PnO !hI8 !ImC !hC IOC0 W08 0 Q0C
8h0dCW CCDQ0ICO WI!h !DC IC0I!y. (]8)
fur workiNc ot\ t
(p
SpataIorganzatons partotthc dscpInaryapparatusbroughttobcar
on thc workcr. Jhs aImostccrtanIynsprcdoucauIt`s varous studcs
ot spataIIy organzcd dscpInary apparatuscs wth thc panoptcon
as hs tcmpIatc) n booksIkcAudnc:: und Civi/izu/ion, Di:ci/inc und
Iuni:h and 1c ir/h o[ /hc C/inic. H s ronc,I thnk, that oucauIt s
soohcnvcwcd nthcLngIsh-spcakngworId as a thnkcr radcaIIy at
odds wth Marxwhcnhc so cIcarIytakcsMarx`s anaIyss ot thc workng
day as onc oths nspratons. oucauIt docs a magnhccnt job, n my
vcw,otgcncraIzngMarx`s argumcntandgvngtsubstancc.AIthough
n somc othsIatcrworkshc dcparts tromwhatthcMarxsts and morc
partcuIarIy thc Maosts and Communsts n rancc at thc tmc) wcrc
sayng, hs carIy tundamcntaI tcxts about asyIums, prsons and cIncs
shouId, n my vcw, bc rcad as contnuatons otrathcr than dcparturcs
trom Marx`s argumcntsconccrnngthc rsc ota dscpInarycaptaIsm
n whch workcrs havc to bc socaIzcd and dscpIncd to acccpt thc
spatotcmporaI IogcotthccaptaIstIaborproccss.
JhcprobIcmothowtocrcatcandsustanworkcrdscpIncsstIIwth
us, otcoursc. Jhcn thcrc s thc probIcm otwhat to dowthpcopIcwho
don`tcontormandarcthcrctorcdubbcdodd orcvcndcvant.Andthss
oucauIt`s aswcII asMarx`s pont. thcyarc caIIcd mador antsocaI and
ncarccratcd nnsancasyIumsorprsons,orasMarxnotcs,thcygctput
nthc stocks,mockcd andpunshcd.1obc a"normaIpcrson,thcrctorc,
s to acccpt a ccrtan knd ot spatotcmporaI dscpInc convcncnt to a
captaIstmodcotproducton.WhatMarxdcmonstratcssthatthssnt
normaI at aII-t`s a socaI construct that arosc durng ths hstorcaI
pcrodnthspartcuIarwayandtor thcscpartcuIarrcasons.
CIcarIy, cagitaIists initiaIIy had to struggc mghty to cxtcnd thc
workng day and normaIzc t to, say, tcn or twcIvc hours as t was n
Marx`stmc)."WorkngtmcnprccaptaIstsocctcsvarcdagrcatdcaI
dcpcndng on crcumstanccs, but n many nstanccs t was not much
morcthan tourhours aday,thcrcstotthc daygvcnovcrto socaIzng
and othcractvtcsthat couId notbc dccmcd"productvc n thc scnsc
otcontrbutngto matcraI survva Inourtorm otsoccty, atour-hour
workday wouId bc consdcrcd Iudcrous, untortunatc and uncvIzcd,
whchrascs somc gucstons aboutthc"dcgrccotcvIzatonthatcxsts
n our own cuIturc. PrcsumabIy, a socaIst aItcrnatvc wouId am to
rcstorcthctour-hourworkday!
t o t comrtNioN fo mtkx:s CAPI7AI
n sccton 6wc gct thc story otwhat happcncd through thc 8os and
8osasworkcrssoughttohghtbackaganstthccxccssvcIcngthcnngot
thcworkngdayn ndustralBrtan.Marxrclatcs apartcularpoItcaI
dynamc,whch gocs somcthng Ikc ths and hcrc I tcII t mywayto
hclp cIar[ Marx`s dcscrpton). n thc 8zos n Brtan, thc landcd
arstocracystII domnatcdpoItcaIpowcr.t hadParIamcnt,t hadthc
HouscotLords,thadthcmonarchyanddomnatcdthcmltaryandthc
judcary. But thcrc was also a rsng bourgcosc, partlyconsttutcd by
tradtonalmcrcantlcandhnancalntcrcstsIocatcdnLondonandthc
portctcsIkcBrstolandLvcrpooIthatmadc aIototthcrmoncyout
otthc sIavc tradc) but now supplcmcntcd by an ncrcasngIy powcrtuI
ndustraI ntcrcst ccntcrcd on cotton manutacturcrs n thc Manchcstcr
rcgon.JcIattcrbccamc powcrtuI advocatcs tor apartcuIarvcrson ot
cconomcthcorythatwas domnatcdbytrccdomotthcmarkctandtrcc
tradcManchcstcrwas,rccall,whcrccnorwcnttolcarnhscconomcs).
Although ncrcasnglywcaIthy, thc ndustral captalsts wcrc poItcaIIy
dscmpowcrcdrclatvctothcIandcdarstocracy.Jhcythcrctorcsoughtto
rctormthcparlamcntarysystcmn such awayasto gangrcatcrpowcr
wthnthcstatcapparatus.nthsthcyhadtohghtascrousbattlcaganst
thclandcdarstocracy.AndnhghtngthatbattIc,thcylookcdtorsupport
tromthcmassotthcpcoplc,partcularlythcprotcssonalmddlcclasscs
and an artcuIatc, scIt-cducatcd, artsanaI workng cIass dstnct trom
thc mass otuncducatcd Iaborcrs). Jc ndustraI bourgcosc, n short,
sought aIIancc wth artsanaI workng-cIass movcmcnts aganst thc
Iandcdarstocracy.Andthroughmassvcagtatonstowardthccndotthc
8zos,thcytorccdthroughthcRctormActot8z,whchtranstormcdthc
systcmotparlamcntaryrcprcscntatonnthcrtavorandlbcraIzcdthc
clcctoralguaIhcatonsothatmodcstlycndowcdpropcrtyowncrs could
votc.
But all knds ot poItcaI promscs had bccn madc to thc workng
cIasscs n thc agtaton Icadng up to thc rctorm, ncIudng cxtcndng
thc votc to artsans, rcguIatng thc lcngth ot thc workng day and
dongsmcthngaboutopprcssvc condtons otlabor.Jhc RctormAct
was soon dubbcd "thc grcat bctrayaI by thc workcrs. Jc ndustral
bourgcoscgotmostotthcrctormstwantcd,whlcthcworkngcIasscs
gotnothngvcrymuch.JhchrstFactoryActrcguIatngthcIcngthotthc
workng day n 8 was wcak and ncHcctuaI although t dd sct thc
prcccdcntotstatclcgslatononthctopc).Jcworkcrs,angcrcdbythc
TH workiNc ot\ t t
bctraI,organzcdaoItcaImovcmcnt,caIIcdChartsm,whchstartcd
toagtatcaganstthc condtonsotItc otthcmassotthcpopuIatonas
wcII as aganst thc appaIIng condtons otndustraIIabor. Ourngths
tmc,thcIandcdarstocracybccamc cvcnmorcantagonstctowardthc
rsngpowcrotthcndustraI bourgcosc rcadaOckcnsoraOsracI
novcIandths tcnson s omnprcscnt).1hcywcrc thcrctorc ncIncdto
support thc workcrs` dcmands n part on thc grounds otthc natonaI
mItary) ntcrcst but aIso through thc typcaI arstocratc poItcs ot
no0/c::c o0/igc, dcpctngthcmscIvcs asthc goodpatcrnaIstctoIkwho
don`tcxpIotpcopIc thc waythosc nasty ndustraIsts do. Js was, n
part, whcrc thc tactory nspcctors arc comng trom. Jcy wcrc bcng
promotcd by thc Iandcd arstocracy n ordcr to curb thc powcr ot a
ruthIcss ndustraI bourgcosc.Bythc 8(os,thc ndustraIbourgcosc
was bcng pushcd hard by ths coaIton ot Iandcd arstocracy and a
workng-cIassmovcmcntthatwas"daIymorcthrcatcnng,`asMarxputs
t](8). StrongcrvcrsonsotthcactoryActwcrc mootcdandpasscdn
8((,8(;and8(8.
1hcrcs,howcvcr,anothcrpcccnthsjgsawpuzzIcotcIassrcIatons
andaIIancctormaton.JcManchcstcrSchooIotcconomcswasagrcat
advocatc ot /ui::cz-[uirc and trcc tradc. 1hs Icd to a struggIc ovcr thc
Corn Laws N.B.,n Brtan at that tmc"cor rctcrrcd to"whcatand
not, as n Amcrca, to what thc Brtsh caIIcd"mazc). Hgh tarHs on
mportcd whcat protcctcd thc ncomcs otthc Iandcd arstocracy trom
torcgn compctton. But thc rcsuIt was a hgh cost ot brcad, a basc
toodstuH tor thc workng cIasscs. Jc ndustraI bourgcosc Iaunchcd
a poItcaI campagn,Icd by Cobdcn and Brght n Manchcstcr,tor thc
aboIition oIthc CornLaws,ontngouttothworrsthat thwouId
mcan chcapcr brcad. Attcmpts wcrc madc not vcry succcsstuI, sncc
workcrsrcmcmbcrcdthc"grcatbctrayaIaIItoowcII)totorgcanaIIancc
wthworkcrs.LvcntuaIIythcrcwrcCornLa

rctormsnthc8(oswhch
rcduccd tarHs on whcat nways that scrousIy mpactcd thc wcath ot
thc Iandcd arstocracy. But whcn brcad bccamc chcapcr, thc ndustraI
bourgcoscrcduccdwagcs.!nMa

x`stcrms,snccthcvaIucotIabor-powcr
s dctcrmncd n part by thc prcc otbrcad, chcapcr mports otwhcat
Icad toIowcrbrcad prccswhc Icad nturn othcr thngs bcng cquaI)
to a taII n thcvaIuc otIabor-owcr. Jc ndustraIsts couId pay thcr
workcrsIcss bccausc thcworkcrs ncccd Icss moncyto buythcr daIy
brcad!Atthspontnthc(s,tcChartstmovcmcntstrcngthcns,and
A COMPANION TO MARX
'
S CAPIAI
workcrs`dcmandsandworkcr agtaton cscaIatc,butthcrc snotasoId
aIIanccaganstthcmbccausc otthc ntcnsc dvsonbctwccn ndustraI
bourgcos)andIandcdarstocratc) ntcrcsts.
Jhc ndustraI bourgcosc sought to undcrmnc thc opcraton ot
thc FactoryActs otthc 8os.Lkcthcboyars,thcypIaycdaroundwth
notons ot tcmporaIty. Sncc thc workcrs dd not havc tmcpcccs,
thc cmpIoycrs aItcrcd thc tactory cIock tmcs to gct cxtra Iabor-tmc.
Jc cmpIoycrs organzcd work schcduIcs to work n bts, "houndng
hm hthcr and ththcr, n scattcrcd shrcds ottmc (o), so that,Ikc
an actor on thc stagc, thcy partcpatcd tor tcn hours otwork but had
to bc prcscnttor hhccn.Workcrs had"to guIp down jthcr mcaIs n a
dHcrcnt tragmcnt ottmc (o).Jhc cmpIoycrs uscd thcrcIaysystcm
to contusc thc tmcs and"dcnounccd thc tactorynspcctor as a spcccs
ot rcvoIutonary commssoncr rcmnsccnt ot thc Convcnton, who
wouIdruthIcssIysacrcc thc untortunatc tactoryworkcrs to hs mana
tor mprovngthcworId(p6;).JccarIcrIcgsIatontcndcdto tocus
partcuIarIyon thccmpIoymcntotwomcn andchIdrcn,whchsparkcd
adcbatcastothcagcatwhchchIdrcnbccomcaduIts.`ccordngtothc
anthropoIogyotthc captaIsts,thc agc otchIdhood cndcd at o,or,at
thc outsdc, "(pz). So much tor thc dcgrcc otcvIzaton among thc
ndustraI bourgcosc And as onc ot thc tactory nspcctors, Lconard
Horncr,voctcrousIycompIancd,thcrcwasnopontgongtothccourts,
snccaIIthcycvcrddwastocxoncratcthccmpIoycrs.ButasMarxnotcs,
"thc 1orcs-thc Iandcd arstocracy-"wcrc pantng tor rcvcngc (p)
ovcrthcCornLaws andpushcdthrough ancwFactoryActthatwouId
Imtthcworkngdaytotcnhoursn88.
Butn88,thcrccruptcdoncotthoscpcrodccrscsotcaptaIsm,a
majorcrssotovcraccumuIatonotcaptaI,ahugccrssotuncmpIoymcnt
acrossmuchotLuropcthatsparkcdntcnscrcvoIutonarymovcmcntsn
Pars,BcrIn,VcnnaandcIscwhcrc,atthcsamctmc,Chartstagtaton
n Brtan pcakcd. In thc tacc otths,thc whoIc otthc bourgcosc got
ncrvous about thc rcvoIutonary potcntaI ot thc workng cIass. In
Pars, n unc ot 88, thcrc was a voIcnt rcprcsson otworkngcIass
movcmcnts thathad asscrtcdpowcr,toIIowcd by thc cstabIshmcnt ot
anauthortaranrcgmcwhchbccamcthc SccondLmprc,IcdbyLous
Bonapartcn8z.
In Brtan, cvcnts wcrc not so dramatc, butthc tcar ot unrcst was
wdcsprcad.Jhcrc,
fur workiNc ot\ t{
the 6asco ofthe ChartistpartywhseIeadershadbeenimprisonedand
whoseorganizationdismembered,hadshatteredtheseIf-con6denceofthe
EngIishworkingcIass.SoonaherthistheuneinsurrectioninParisandits
bIoodysuppressionunited,inEngIandasontheContinent,aIIfractionsof
theruIingcIasses,IandownersandcapitaIists,stock-exchangesharksand
smaII-timeshopkeepers,ProtectionistsandFreetraders,governmentand
opposition,priestsandfree-thinkers,youngwhoresandoIdnuns frankIy,
haenoideawhatthey hadtodowith it] underthecommonsIoganof
the saIvationofproperty,reIigion,thefamiIyandsociety.(p;)
H is amazing to contempIate how freguentIy "property, reIigion, the
famiIyandsociety"getstrottedoutasanideoIogicaImantraintheguest
to protectthe estabIishedbourgeoisorder.WedonthavetoIookmuch
furtherthantherecenthistoryoftheUnitedStates,wheretheRepubIican
PartyinparticuIarwouIdnotexistwereitnotforitsvehementdecIaration
ofIoyaItytotheseprincipIes.Inritainin88itmeantthat"everywhere
theworking cIass was outIawed, anathemized,pIaced under the `/oi dc:
:u:cc/:. Te manufacturers no Ionger needed to restrain themseIves"
and"broke outin openrevoIt"against"aIItheIegisIation since 8{{that
had aimedat restrictingto some extentthefree'expIoitationofIabour-
power''Tis"rebeIIion wasprosecuted"withacynicaIreckIessness and
a terroristic energywhich were so much the easier to achieve in that
the rebeI capitaIist risked nothingbutthe skn ofhis workers" ({p;8).
AII of which sounds very much Iike the ReaganTatcher neoIiberaI
counterrevoIutionofthep8os.UndertheReaganadministration,much
oftheworkthathadbeendoneonIaborreIations(viatheNationaILabor
ReIationsoardandtheOccupationaISafetandealthAdministration
was reverse or Ie nenforce. In this case, too, it was the shing
characterofcIasspowerandcIassaIIianceswithinthestateapparatusthat
pIayedthevitaIroIe.
Inritain,somethinginterestinghappenedaer8o.Te
apparentIy decisive ctory of capitaI was immediateIy foIIowed by a
counter-stroke. So far, the workers had onered a resistance which was
passive,thoughinexibIeandunceasing.Teynowprotestedinancashire
andorkshireinthreateningmeetings.TesocaIIedenHours'Act,they
said,wasthusmerehumbug,aparIiamentaryfraud.HhadneverexistedThe
factoryinspectorsurgentIywarnedthegovernmentthatcIassantagonisms
hadreachedan unheard-ofdegreeoftension. Some ofthe manufacturers
t
(
t comrtNioN fo mtrx:s CAPI7AI
thcmscIvcs grumbIcd. `n account ot thc contradctory dccsons ot thc
magstratcs, a condton ot thngs aItogcthcr abnormaI and anarchcaI
obtans.ncIawhoIdsnYorkshrc,anothcrn Lancashrc, oncIawn onc
parshotLancashrc,anothcrntsmmcdatcncghbourhood.|o,)
Whatthc caQtasts had n cdcct donc was to usc thc Iaw to tramcnt
dccsons hcrc, thcrc and cvcrywhcrc so that actuay thc Iaw was no
oncrconsstcnt.butthcscrousthrcattunrcstn:,torccda
compromsc bctwccn manutacturcrs and mcn, gvcn thc scaI ot
parIamcntary approvaI n thc suppIcmcntary actory Act ot , Auust
:,o.Jhc workng day tor `young pcrsons and womcn was Icngthcncd
trom :oto : hourstorthchrsthvcdaysotthcwcck,andshortcncdto
;hours on Saturdays. |o,)
Ccrtanroups,suchasthcsIkmanutacturcrs,Qrocurcdcxcmptons,and
thcrc thc chdrcn wcrc gutc smQIysIauhtcrcdtor thc sakc otthcr
dccatchncrs`(o6).butby:,,
thcprncpIc hadtrumphcd wth tsvctory nthoscgrcat branchcs ot
ndustrywhchtormthcmostcharactcrstccrcatonotthcmodcrnmodc
otQroducton.JhcrwondcrtuIdcvcIo
[
mcnt trom :,to :6o,hand-n-
handwth thc physcaI and moraIrcgcncraton otthc tactory workcrs,
was vsbIc to thcwcakcst cycs. Jhcvcry manutacturcrstromwhom thc
IcgaI Imtaton and rcguIaton otthcworkng day had bccn wrung stcp
by stcp n thc coursc ota cvI war Iastng haIt a ccntury now pontcd
boasttuIIy to thc contrastwththc arcas otcxpIotatonwhchwcrc stII
`trcc.JcPharsccsot`poItcaIcconomynowQrocIamcdthatthcrncwIy
won nsght nto thc ncccssty tor aIcgaIIy rcguIatcdworkng day was a
charactcrstc achcvcmcnt otthcr`sccncc`. It wIIcasIybc undcrstood
thatahcrthctactorymagnatcshadrcsncdthcmscIvcsandsubmttcdto
thc ncvtabIc,captaIs powcr otrcsstanccgraduaIIywcakcncd,whIc at
thc samctmc thcworkngcIassspowcrotattackgrcwwththcnumbcr
otts aIIcs n thosc socaIIaycrs notdrcctIy ntcrcstcd n thc gucston.
|o-)
Whowcrcthcscacs:Narxdocsnotsay,buttQrobabIycomcsbackmany
toQrotcssonacasscsandthcQrorcssvcwinotthcrctormstbourcosc.
JcscwcrccrucaIcIcmcntsnastuationwhcrcthcworkincasscsddnot
votc.!cncc

hccomparatvcIyraQdprogrcsssncc:6o"|o).
1ur wokki Nc DAY
WhIcMarxdocsnotcommcntont,thsrctormsmwasnotconhncd
tothc condtons ottactoryIabor,andto thc dcgrccthattbccamc cIcar
that thcy, too, couId bcncht, cvcn thc ndustraI ntcrcst ncrcasngIy
partcpatcd. Js was bcst symboIzcd by thc Brmngham ndustraIst
[oscph ChambcrIan,who bccamc mayorotthc ctyandwas ohcn thcn
rctcrrcd to as "RadcaI [oc bccausc oths commtmcnts to muncpaI
mprovcmcnts n cducaton, ntrastructurc watcr suppIy, scwagc, gas
Ightng,ctc.) andbcttcrhousngtorthc poor.At Icast a scgmcnt otthc
ndustraIbourgcoschadIcarncdbythc86osthattddnotncccssarIy
havctobcrcactonaryonthcsc topcs ttwastomantantsprohts.
JswhoIcdynamccaIIstorsomccommcntart`scIcartromthcdata
that up untI 8o or so, thc ratc otcxpIotaton n thc Brtsh ndustraI
systcmwashorrcndousandthatthchoursotworkwcrccguaIIyhorrcndous,
wthdrcadhIconscgucnccstor thccondtonsotworkngandIvng. But
ths supcr-cIotaton sIackcncd ahcr 8o wthoutanymarkcd ncgatvc
cHcctonprohtabItyorouut.JsoccurrcdnpartbccauscthccaptaIsts
toundanothcrwaytogansurpIus-vaIuc tobctakcnup shortIy).Butthcy
aIsodscovcrcdthatahcaIthyandcmccntIabortorcc,onashortcrworkng
day,couIdbcmorcproductvcthananunhcaIthy, ncmccnt,taIIng-apart,
constantIyturnng-ovcr and dyngoHIabor torcc otthc sort that t had
utIzcddurngthc 8]osand8(os.JhccaptaIstscouIdthcntrumpctths
dscovcryandthcrbcncvoIcnccandsomctmcsovcrIysupportaccrtan
IcvcI otcoIIcctvc rcguIaton and statc ntcrtcrcncc to Imt thc cHccts ot
thc cocrcvcIawsotcompctton. t, trom thc standpont otthc captaIst
cIass as awhoIc,curbngthc Icngth otthc workng day turncd outto bc
agooddca, thcn what docsths say about thc struggIc bworkcrs and
!h0I 80S !0 H! ! Hsays!h8! W0IK6IS H8j wcIIbcdOngaptaIatavor.
CaptaIsts gct pushcd nto arctorm whch s not ncccssarIyaganstthcr
cIass ntccst n othcr words, thc dynamcs otcIass struggIc can just as
casIyhcIpcguIbatcthcsystcmasdsruptt.MarxncHcctconccdcshcrc
thatcaptaIsts,whcnthcyhnaIIysuccumbcd ahcrhhyycarsotstruggIcto
thcdcaotrcguIatngthcworkngday,toundtworkcdtorthcmjustaswcII
astddtorthcworkcrs.
n sccton ;,Marx cxamncs thc mpact otBrtsh tactoryIcgsIaton on
othcrcountrcs,chcyFranccandthcUntcdStatcs.nsodong,hcrst
rccognzcsthatamodcotanaIyssthattocuscsmcrcIyonthcndvduaI
workcrandhsorhcrcontractsnsumccnt.
6 t comrtNioN fo mtrx
:
s CAP7AI
Tehistoryofthe reguIationoftheworking dayincertainbranches of
production,andthestruggle stiII goingonin others overthis reguIation,
proveconclusiveIythattheisoIatedworker,theworkeras'free'seIIerofhis
Iabour-power,succumbswithoutresistanceoncecapitaIistproductionhas
reachedacertainstageofmaturity.TeestabIishmentofanormaIworking
dayistherefore the product ofaprotractedandmore or Iess conceaIed
civiIwarbetweenthecapitaIistclassandtheworkingcIass.((z-])
In other countries, this struggle is aected by the nature of political
traditions (the"French revolutionarymethod,`forexample,is far more
heavily dependent on declarations of "universal rights") and actual
conditions oflabor (in the United States, under conditions ofslavery,
"labourin awhite skin cannotemancipate itselfwhere it is branded in
ablacks` ) ).ut in aII cases,the laborerwho appears as a"free
agent" in the marketplace discovers he is no free agent inthe reaIm of
production, where "the vampire will not let go 'whiIe there remains a
single muscle, sinew or drop ofblood to be exploited'" (-6) (here
MarxguotesEngels) . Telessonthatmustbelearnedisthat
for 'protectioagainsttheserpentoftheiragonies,the workers have to
puttheirheadstogetherand,as aclass,compelthe passingofalaw, an
all-powerfuI sociaIbarrierby which they can be preventedfrom selling
themseIvesandtheirfamiIiesintosIaveryanddeathbyvoluntarycontract
withcapital.npIaceofthepompouscataIogueofthe'inalienablerights
ofman'therestepsthemodestagnaCartaoftheIegaIIyIimitedworking
day,which at Iast makes cIear'whenthetimewhichthe workers seIls is
ended,andwhenhisownbegins((6)
TereareacoupleissuesthatarisefrommisconcIusion.Marx`sdismissalof
the"inalienablerightsofma isareamrmationthat"rightstalisnotgoing
tobeableto addressndamental issues, suchasmedeterminationofthe
lengmoftheworngdaTecourtscannotdoit,eimer.uthere,forthehrst
time,Marxarguesthatworkershaveto"puttheirheadstogether"andworkas
acIass,andhowtheydosoisgoingtohaveahugeimpactonmeconditions
oflaborandthedynamicsofcapitalism.Tisstruggleiscentraltothevery
dehnitionoffreedomitseIhereguotefromthethirdvolumeofC//|.
Te reaIm offreedom really begins only where labour determined by
necessityandexternaIexpediencyends,itIiesbyitsverynaturebeyond
THE WORKlNG DAY 1

thesphereofmateriaIproductionproper.ustasthesavagemustwrestIe
withnaturetosatishisneeds,tomaintainandreproducehisIife,somust
civiIized man, and he must do so in aII forms ofsociety and under aII
possibIe modes ofproduction. Tis reaIm ofnaturaI necessityexpands
withhisdeveIopment,becausehisneedsdotoo,buttheproductiveforces
to satis these expand at the same time. Freedom, in this sphere, can
consistonIyinthis,thatsociaIizedman,theassociatedproducers,govern
the human metaboIismwith nature in a rationaI way, bringing it under
theircoIIectivecontroIinsteadofbeingdominatedbyitasabIindpower,
accompIishing itwiththe Ieast expenditure ofenergyand in conditions
most worthy and appropriate for their human nature. ut this aIways
remainsareaImofnecessity. ThetruereaImoffreedom,thedeveIopment
ofhumanpowersasanendinitseIf,beginsbeyondit,thoughitcanonIy
ourish with this reaIm of necessity as its basis. The reduction ofthe
workingdayisthebasicprereguisite.`
ut we aIso see that capitaIists, impeIIed onward by the coercive Iaws
ofcompetition,areIikeIytobehave insuchawayastoseriousIyimpair
the prospects fortheir reproduction as a cIass. Ifthe Iaborers organize
as a cIass, and thereby force the capitaIists to modi their behavior,
thenthe coIIective power oftheworkers heIps save the capitaIists from
theirown individuaIstupidity and short-sightedness,thus forcingthem
to recognizetheir cIass interest.T!e impIication is that coIIective cIass
struggIecanbe astabiIizerwithinthecapitaIistdynamic.Ifworkersare
compIeteIypowerIess,then the system goes awrybecauseArc: moi /c
dc/ugc/ isnowaytorunastabIecapitaIisteconomy. CIearIy, the coercive
IawsofcompetitionthatdrivethecapitaIistsdownsuchaseIf-destructive
d!h B00u !0 D0 C0B!dIB0u. JIS IS dS S0II0uS d I0D6H withrespecttothe
super-expIoitationoftheIandandthepiIIagingofnaturaIresourcesasit
isfortheguaIitiesandguantitiesofIaborsuppIy.
Now,thisisadimcuItconcIusiontoreachsinceMarxispurportedIya
revoIutionarythinker.Inthischapter,hehemmedhimseIfinbytheinitiaI
assumption that both capitaI and Iabor pursue their rights interms of
theIawsofexchange.Intheseterms,theonIypossibIeoutcomeforthe
workersisa"modestMagnaCartofafairday'swageforafairday'sIabor.
T!ereisnooverthrowofthecapitaIistcIassoraboIitionofcIassreIations
I. KarIMarx,Cu/u/, VoI.!!!,trans.adFcrnbach (London.Pcngun,I98I ),
958-9.
8 A COMPANION TO MARX'S CAPI7AI
here. CIass struggIe mereIy eguiIibrates the capitaI-Iabor reIation. CIass
struggIecanaIItooeasiIybeinternaIizedwithinthecapitaIistdynamicas
apositiveforcethatsustainsthecapitaIistmodeofproduction.WhiIethis
doesmeanthatcIassstruggIeisbothinevitabIeandsociaIIynecessary,it
shedsveryIittIeIight onthe prospectsfor arevoIutionaryoverthrowof
capitaIism.
How are we to interpret the poIitics ofaII this My own view is to
agreewith thepropositionthata certain empowerment oftheworkers'
movementissociaIIynecessaryforcapitaIismtofunctioneectiveIy,and
thatthe sooner thecapitaIistsrecognizethisandsubmitto it,thebetter
othey wiII be. Tere is pIenty ofhistoricaI evidence to support this
concIusion,eventothepointwherethestate,ashappenedintheUnited
States during the ew eaI, deIiberateIy empowered the trade-union
movement in ordernotto overthrowcapitaIismbutto heIp stabiIizeit.
trugglesoerthevalueoabor-powerandoverthelengthoftheworing
dayarefundamentaItotheachievementofamodicumofstabiIitywithin
capitaIism for sociaI and poIiticaI as weII as pureIy economic reasons.
It is perhaps no accident that the phase of strong sociaI-democratic
governance in the pos and p6os in urope and the sociaI compact
betweencapitaIandIaborintheUnitedStateswereassociatedwithstrong
capitaIistgrowthandthattheScandinavianstateswiththeirstrongsociaI
supportsystemshaveremainedreIativeIysuccessfuIcompetitorsonthe
internationaI stage even during the recent turn toward neoIiberaIism
eIsewhere. Marx wiII aIso insist that this hnding as to the sociaIIy
necessary state ofcIass struggIe has to be insertedtheoreticaIIyinto an
otherwise siIentbourgeispoIiticaIeconomyinordertounderstandthe
dynamicsofcapitaIism.
utthereisaIsoapointatwhichstruggIeovertheIengthoftheworking
dayandtheempowermentofaworkingcIassmovementcangobeyond
trade-unionconsciousnessandmorphintomorerevoIutionarydemands.
ItisonethingtosaythattheworkingdayshouIdbeIimitedtotenoreight
hours,butwhathappenswhenitdropstofourtthatpoint,capitaIists
get aIittIejumpy.s happened in France, even a thirty-hve-hourweek
andsixweeks'mandatedvacationtimehavebeen seen asexcessive and
sparkeda strongmovement onthepartofthe capitaIistcIass andtheir
aIIiesformuchgreater"exibiIity"inIaborIaws.Teguestionhereis,at
what point does reformgo toofarandactuaIIy chaIIenge theverybasis
ofcapitaIism
+nr wOKKINC DAY 1
V
Ifthere is aneguiIibriumpointforcIass struggIe,it isnothxed,nor
isitknown.utitdoesdependonthenatureofthecIassforcesandthe
degreeofexibiIitythatcapitaIistshaveinreIationtonewreguirements.
ForexampIe,afarshorterworkingdaypermitscapitaIiststopushtoward
intensihcationandincreasingemciencyofIaborinwaysthatcompensate
forthe shorterhours.It isvirtuaIIyimpossibIeto maintain ahighIeveI
ofintensityoveratweIve-hourworkday.AninterestingexampIe ofthis
occurred in the miner`s strike against the Edward Heath government
in ritain in the earIy p;os. In the face of power shortages, Heath
mandated a three-dayworkweek,but the subseguent evidence showed
thatproductiveactivitydidnotdiminishinthesameproportion.HeaIso
mandatednoteIevisionbroadcastinganertenatnight,whichensuredhe
gotbootedoutatthenexteIection (therewasaIso,IrecaII,aninteresting
bIiupwardinthebirthratesomeninemonthsIater).
Icannotresistendingconsiderationof thischapterwithafewcomments
onitsreIevancetocontemporaryconditions.IainIy,thedynamicsofcIass
struggIe (incIuding cIass-aIIiance formation) havecontinued ever since
Marx`stimetopIay acruciaIroIeinthedeterminationofworkingdays,
weeks,yearsandIifetimesasweIIasinthedegreeofreguIationofworking
conditions and IeveIs ofwages. WhiIe in certain pIaces and times the
morehorrendousandappaIIingconditionsthatMarxdweIIsonatIength
havebeenverymuchcircumscribed,thegeneraIissueshedescribes(such
asmuchIowerIifeexpectanciesthanaverageinmanyoccupationssuch
asmining,steeIandconstruction)haveneverdisappeared.utoverthe
pastthirtyyears,withtheneoIiberaIcounterrevoIutionthatpIacesmuch
greater emphasis on dereguIation and the pursuit ofmore ulnerable
worforcesthroughgIobaIization,therehasbeen arecrudescenceofthe
sorts ofconditions that the factory inspectors so graphicaIIydescribed
inMarx`stime.ythe mid-ppos,forexampIe,IwouIdgivethestudents
in my Cui/u/ cIassthe foIIowingexercise.IwouIdaskthemtoimagine
theyhadhadaIetterfromhomethatnotedtheyweretakingacourseon
Cui/u/ andthatcommentedthatwhiIethebookperhapswashistoricaIIy
reIevant, the conditions it describes had Iong ago been superseded. I
gavethestudentsbundIesofexcerptsfromomciaIreports(bytheWorId
ank,forinstance) andcIippingsfromrespectabIenewspapers (thNcw
ork 1imc:, etc.)describingworkingconditionsinpIantsproducngCap
cIothing in CentraI America, Nike pIants in Indonesia andietnam or
Levi Strauss products in SoutheastAsia and describing howthat great
t6o t comrtNioN fo mtrx:s CAPI7AI
lover of children athy Lee Ciord was shocked to 6nd that her line
of clothing for WalMart was produced either in plants in Honduras
employingyoungchildrenat almost no wages or insweatshops in the
Neworkregionwherepeoplehadnotbeenpaidforweeks.Thestudents
wrotegreatessays,thoughtheybalkedwhenI suggestedtheymightlike
tosendthemhome.
Regrettably, conditions have grown worse. In May zoo8, an
Immigration and Customs nforcement raid on an Iowa meatpacking
plant netted 8p suspected illegal immigrants, several of whom were
underageandmanyofwhomworkedtwelvehourdayssixdays aweek.
Teimmigrantsweretreatedascriminals,manyofthezp;convictedwere
jailedfor6vemonthsormorepriortodeportation,whiletheauthorities
onlybegan slowlyto move againstthe companyforits appalling labor
practices as the moral outrage began tobuildthrough public exposure.
Asthestudentsinmyclasshadalsoconcluded,itisalltooeasytoinsert
any number ofcontemporary accounts oflabor practices into Marx's
chapterontheworkingdaywithoutnoticingthedierence.Tisiswhere
theneoliberalcounterrevolutionandthelossofpoweronthepartofthe
labormovementhavebroughtus.Sadtoreport,Marx`sanalysisisalltoo
relevanttoourcontemporarycondition.
CHAPTER 11. RATE AND MASS OF SURPLUS-VALUE
Chapter:isatypicallinkchapter.Itmovesoutofonesetofguestions
inorderto poseanother.Marx'smethodreturnstothe somewhatdryly
algebraic before taking a substantive twist. Capitalists,he suggests, are
most interested in maximizing the mass ofsurplus-valuebecause their
individualsocialpowerdependsonthetotalmoneypowertheycommand.
Themassofsurplusvalueisgivenbytherateofsurplus-valuemultiplied
bythenumberoflaborersemployed.Ifthenumberoflaborersemployed
diminishes,the same massofsurplusvaluecanbegainedbyincreasing
therateofsurplus-value.utthereisalimitontherateofsurplus-value
givennotonlybythetwenty-fourhoursinadaybutalsobyallthesocial
andpoliticalbarriersdiscussedearlier. Facedwith thislimit,capitalists
canincreasethenumberoflaborersemployed.utatsomepoint,another
limitisencountered,whichisthetotalvariablecapitalavailableandthe
totalsupplyofthelaboringpopulation.Teouterlimitherewouldbe,of
course,thetotalpopulation,butagaintherearereasonswhytheavailable
TH worriNc ot\ t6t
workforce i sfar Iess than this. Faced with thesetwo Imits, capitaI has
tocomeupwithanentireIydiherentstrategyfor increasingthemassof
surpIus-vaIue.
AsonenhappensintransitionaIchapters,Mxprovidesus,incapsuIe
form,withaconceptuaImapastowherewehavebeenandwhereweare
going.
CapitaI deveIoped within the production process untiI it acguired
command over Iabour, i.e. over seIf-activating Iabour-power, in other
wordstheworkerhimseIf.TecapitaIist,who iscapitaIpersoni6ed,now
takes care that the worker does hiswork reguIarIy andwith the proper
degreeofintensity. . . ut]capitaIaIsodeveIopedintoacoercivereIation,
and this compeIs the working cIass to do more work than wouId be
reguiredbythenarrowcircIeofitsownneeds.(z)
apitaIpersonihed,initsthirstforsurpIusIaboranditsincessantpursuit
ofsurpIus-vaIue,
surpassesaIIearIiersystemsofproduction. . . initsenergyanditsguaIity
ofunboundedand ruthIess activity . . . ut at 6rstcapitaIsubordinates
Iabour onthe basis ofthe technicaIconditionswithinwhichIabourhas
beencarriedonup tothatpointinhistory.RdoesnotthereforedirectIy
changethe modeofproduction. Teproduction ofsurpIus-vaIue inthe
form we have so far considered, by means of simpIe extension of the
workingday,appearedthereforeindependentIyofanychangeinthemode
ofproductionitseIf.(z)
But aII that is about to changc, both IogicaI!y and historicaI!y. When"we
viewtheproductionprocessasaprocessofvaIorization'thenthemeans
ofproductionarechangedinto"meansfortheabsorptionoftheIabourof
others.ItisnoIongertheworkerwhoempIoysthemeansofproduction,
but the means ofproductionwhichempIoytheworker''TishistoricaI
andIogicaIreversaIIies at the core ofan astonishingtransformationin
howa capitaIist mode ofproduction has to be understood."Instead of
beingconsumedbyhimasmateriaIeIementsofhisproductiveactivity,'
themeansofproduction"consumehimas thefermentnecessarytotheir
ownIife-process,andtheIife-processofcapitaIconsists soIeIyinitsown
motion as seIf-vaIorizing vaIue" (z). Tis aII foIIows from the simpIe
factthat the onIywayin which the vaIue ofthe means ofproduction
12 t comrtNioN fo mtkx: s CAP7AI
(the dead Iabor congeaIed in factories,spindIes andmachines) heId by
the capitaIists can be preserved (Iet aIone augmented in the form of
surpIusvaIue)isbytheabsorptionoffreshsuppliesoflivinglabor.othe
"bourgeoisbrai itthenfoIIowsthatIaborersexistonIytovaIorizecapitaI
throughtheappIicationoftheirIaborpower
CapitaIismabhorsIimitsofanysort,preciseIybecausetheaccumuIation
ofmoneypower is in principIeIimitIess.CapitaIism perpetuaIIystrives,
therefore, to transcend aII Iimits (environmentaI, sociaI, poIiticaI and
geographicaI) andtoconvertthemintobarriersthatcanbebpassedor
circumvented.ThisgivesadehniteandspeciaIcharactertothecapitaIist
mode of production and imposes specihc historicaI and geographicaI
conseguences on its deveIopment. We now turn to consider how the
Iimits encountered in this chapterof totaI avaiIabIe Iabor force and
rate ofexpIoitationare convertedbycapitaIinto abarrierthat canbe
LNCILLIC.
CHAPTER SIX
08IV0 but
[
u8-N8u0
CHAPTER 12. THE CONCEPT OF RELATIVE SURPLUS-VALUE
Chapter:zproposesasimpIeargumentwithafewcompIicatedwrinkIes.
etitisachapterthatitisaIItooeasytogetwrong.TeinitiaIargument
goesIikethis
The vaIue ofa commodity is etermined by the sociaIIy necessary
Iabor-time congeaIed in it, and this vaIue diminishes with increasing
productivity."IngeneraI,thegreaterthe productivity ofIabour,the Iess
teIabour-timereguiredtoproduceanarticIe,theIessthemassofIabour
crystaIIizedinthatarticIe,andtheIessitsvaIue"().
TevaIueofIabor-powerasacommodityisaectedbyaIImannerof
historicaI,cuIturaIandsociaIcircumstances.utitisaIsotiedtothevaIue
ofthecommoditiesthatIaborers needtoreproducethemseIvesandtheir
dependentsatagivenstandardofIiving.
Te vaIue ofIabour-power can be resoIved into the vaIue ofa de6nite
guantityofthemeansofsubsistence.HthereforevarieswiththevaIueof
themeansofsubsistence,i.e.withtheguantityofIabourtimereguiredto
producethem.(z;6)
therthings remaining euaItherefore thevaIueoIao
-po wiII
decIinewith risingproductivityin those industriesproducingthegoods
IaborersneedtoreproducethemseIves.
In order to make the vaIue ofIabour-power go down, the rise in the
productivityofIabourmustseizeuponthosebranchesofindustrywhose
products determine the vaIue ofIabour-power, and conseguentIy either
beIongtothecategoryofnormaImeansofsubsistence,orare capabIe of
repIacingthem.((]z)
For the capitaIists,this means thatthey can Iay out Iess in the wayof
variabIecapitaIbecausetheworkersneedIessmoneytomeettheirneeds
6( t comrtNioN fo mtrx: s CAI7AI
(as6xedbyagiven standardofIiving) . IfcapitaIistshavetoIay outIess
forvariabIecapitaI,theneveniftheIengthoftheworkingdayis6xed,the
ratiosv,ortherateofexpIoitation,rises.AgreatermassofsurpIus-vaIue
thereby accrues tothe capitaIisteventhoughtheIengthoftheworking
dayishxed.
Tis process in no way invoIves any infringement of the Iaws of
exchange. o be sure, capitaIists wiII seek to purchase whatever Iabor-
power they can at Iess than its vaIue, and that wiIIaugment the mass
of surpIus-vaIue they receive. espite the important part which this
methodpIaysinpractice,weareexcIudedfromconsideringitherebyour
assumptionthataIIcommodities,incIudingIabour-power,areboughtand
soIdattheirfuIIvaIue"(:).Soonceagain,acceptanceofthemarketIogic
and the theses ofcIassicaI poIiticaI economytake precedence overthe
studyofactuaIpractices,demonstratingoncemoreMarx'scommitment
to dcconstructing thc utopian thcscs ot cIassicaI poIiticaI cconomy on
theirownterms.OneotherpecuIiarresuItarisesoutofMarx`s modeof
reasoning.'nincrease intheproductivity ofIabourinthosebranches
ofindustrieswhichsuppIyneither the necessarymeans ofsubsistence
nor the meansbywhichtheyare producedIeavesthevaIueofIabour-
powerundisturbed"(z).Terefore,reducingthevaIueofIuxurygoods
byincreasingproductivitydoesnotyieIdreIativesurpIusvaIue.RisonIy
thedecIiningvaIueofwagegoodsthatmatters.
Thisproduces aconundrum.WhywouIdindividuaIcapitaIistsraise
theproductivityintheirownparticuIarindustryproducingawagegood,
when a capitaIists wiII beneht Tis iswhatis nowcaIIed a free-rider
probIem.TeindividuaI capitaIistwhogoes out,innovates,reducesthe
priceofawagegoodandsoreducesthevaIueofaIIIabor-powergainsno
particuIarorsinguIarbenehtfromsodoing.Tebenehtaccrues to the
whoIecapitaIistcIass.WhereistheindividuaIincentivetodothat
CouId reIative surpIus-vaIue arise through a cIass strategy WhiIe
Marxdoes notmention itinthischapter,heearIierreIateda casewhere
thiswassotheaboIitionoftheCornLaws(tarisonwheatimports) as
a resuIt ofthe coIIective agitation ofthe Manchester industriaIists.Te
cheaperwheatimportsthatresuItedbroughtdownthe price ofbread,
andthisaIIowedwagestobereduced.TissortofcIassstrategyturnsout
to have been ofgreat historicaI importance.Te same reasoning exists
nowintheUnitedStateswithrespecttothesupposedadvantagesoffree
trade. TeWaIMart phenomenon andcheap imports from China are
RLATIV SURLUS~VALU 1 j
wcIcomcdbccausc chcapgoodsrcduccthc cost otIvngto thcworkng
cIasscs.Jctactthatmoncywagcshavcnotrscn muchtorworkcrsovcr
thcpastthrtyycarssmadcmorcpaIatabIc snccthcphyscaIguanttyot
goodsthcycan acgurchasncrcascd provdcd thcyshop atWaI-Mart).
n cxactIy thc samc way thatthc nnctccnth-ccntury Brtsh ndustraI
bourgcoscwantcdtorcduccthcvaIucotIabor-powcrbyaIIowngchcap
mports, so thc rcIuctancc to bIock chcap mports n thc Untcd Statcs
today dcrvcs trom thc nccd to kccp thc vaIuc ot Iaborpowcr stabIc.
ProtcctonsttarHs,whIcthcymghthcIpkccpjobsnthcUntcdStatcs,
wouId rcsuIt n prcc ncrcascs whchwouId crcatc prcssurcs torhghcr
wagcs.
H turns out hstorcaIIythat thcrc havc bccn many statc-organzcd
stratcgcs to ntcrvcnc n thc vaIuc otIabor-powcr. Why, tor cxampIc,
docsthcStatcotNcwYorknotchargcsaIcstaxcson tood Bccauscthat
ssccnastundamcntaItothcdctcrmnatonotthcvaIucotIabor-powcr.
Onoccason,thcndustraIbourgcoschassupportcdrcntcontroI,chcap
socaI) housng and subsdzcd rcnts andagrcuIturaIproductsbccausc
that,too,kccpsthcvaIuc otIabor-powcrdown.Sowc candcnt[many
stuatons whcrc thcrc havc bccn and stII arc cIass stratcgcs workcd
out throu thc statc apparatus to rcducc thc vaIuc otIabor-powcr. 1o
thc dcgrccthatthcworkngcIasscsgancdamodcum ot acccss to statc
powcr,thcycouId usc t to ncrcasc thcr ncomc nknd through statc
provson otmay goods and scrvccs) and so rasc thc vaIuc otIabor-
powcr n cHcct cIamngback a part otthc potcntaI rcIatvc surpIus-
vaIuctorthcmscIvcs) .
Marx cschcws any mcnton otthcsc knds otssucs n ths chaptcr
Imot crtaInIy or thc sc rcason hc dIsmIsscd thc way captaIsts
pcrpctuaIIysccktopurchascIaborpowcratIcssthantsvaIuc.Conscous
assstratcgcsandstatcntcrvcntonsarcnotadmssabIcnthcthcorctcaI
tramcworkMarxhascstabIshcd.WcdontncccssarIyhavctotoIIowhm
aII thcwayonths,partcuIarIyto thc dcgrccwc arcntcrcstcdn actuaI
hstorcs.ButhcncvcrthcIcss accompIshcs somcthngvcryprotoundby
stckng to thc rcstrctvc assumptons ot trcc-markct utopansm. Hc
showshowandwhyndvduaI captaIstsmghtbc mpcIIcdto nnovatc
wthoutanycIassorstatcntcrvcntons)cvcnthoughthcrcturnonthcr
nnovatongocstothcwhoIccaptaIstcIass.
"Whcn an ndvduaI captaIst chcapcns shrts, tor nstancc, by
ncrcasng thc productvty otIabour, hc by no mcans ncccssarIy ams
1 t comrtNioN fo mtrx:s CAPI7AI
toreducethevaIue ofIabour-powerandshortennecessaryIabour-time
inproportiontothis`TeindividuaIcapitaIistdoesnotactonthebasis
ofageneraIizedcIassconsciousnesseventhough"hecontriutestowards
increasingthe generaI rate ofsurpIusvaIue"through his actions. Marx
then warns. "the generaI and necessary tendencies ofcapitaI must be
distinguished from their forms of appearance'`TispecuIiar phrasing
signaIsthatsomethingspeciaIisgoingon(theodoroffetishismisinthe
air).Sowhat'shegettingat
WhiIe it is not our intention here to consider the way in which the
immanentIawsofcapitaIistproductionmanifestthemsIvesintheexternaI
movementoftheindividualcapitaIs,assertmemseIvesasthecoerciveIaws
ofcompetition,andthereforeenterintotheconsciousnessoftheindividuaI
capitaIist as the motives which drive him forward, this much is cIear. a
scientihcanaIsisofcompetitionispossibIeonIyuwecangrasptheinner
natureofcapitaI,just as theapparentmotions ofthe heavenly odies are
inteIIigibIetosomeonewhoisacguaintedwiththeirreaImotions,whichare
notperceptibIetothesenses.()
Nowwe needtothinkIongandhard,criticaIIyandcarefuIIy,aboutwhat
heis saying. I earIier suggestedyou remain aIert forwhen the coercive
Iawsofcompetitioncomeintotheargument,andpIainIytheydosohere.
etMarxeemstowanttodownpIaytheirimportevenasherecognizes
thathecannotdowithoutthem.Atthispoint,I canonIyohermyown
interpretation,knowingfuIIweIIthatmanywiIIdisagreewithme.Ithink
thereisacertainparaIIeIbetweenthewayinwhichMarxanaIyzestheroIe
ofsuppIyanddemandIuctuationsandtheroIeofcompetition.Inthecase
ofsuppIyanddemand,Marxconcedesthatthese conditionspIay avitaI
surfaceroIeingeneratingprice movementsforaparticuIarcommodity,
but when suppIy an demandare ineguiIibrium,he argues,suppIyand
demandfaiItoexpIainanhing.SuppIyanddemandcannotexpIainwhy
shirtsexchangeforshoeson averageinthe ratiothattheydo. is has to
be expIainedbysomethingtotaIIydiherent,congeaIedsociaIIynecessary
Iabor-time, orvaIue. Tis does not mean thatsuppIyand demand are
irreIevant, because without them there couId be no eguiIibrium price.
SuppIyanddemandreIationsareanecessarybutnotsucientaspectofa
capitaIistmodeofproduction.CompetitionbetweenindividuaIcapitaIists
withinaparticuIarIineofcommodityproductionpIaysasimiIarroIe.In
RELATIVE SURLUS~VALUE 1
thisinstance,however,itredehnestheeguiIibriumpositiontheaverage
priceorvaIueofthecommodity-thoughchangesinthegeneraIIeveIof
productiityinthatIineofcommodityproductin.CompetitionasMarx
heredepictsitisasortofepiphenomenon

hat occurs onthesurfaceof

society, but,Iikeexchange itseIf,ithas some deeper conseguencesthat
cannotbeunderstoodbyreferencetocompetition.Tiswastheposition
he took in the Grundri::c. competition does not estabIish the Iaws of
motionofcapitaIism
but is rather their executor. nIimited competition is therefore not
the presupposition for the truth ofthe economic Iaws, but rather the
consequencethe form ofappearancein whichtheir necessityreaIizes
itseIf. . . CompetitionthereforedoesnotexpIaintheseIaws,ratheritIets
thembeseen,butdoesnotproducethem.`
Let use see how this process works out in this instance. "For the
understanding ofthe production ofreIative surpIus-vaIue, and mereIy
onthebasisofthe resuIts aIreadyachieved,we mayadd thefoIIowing
remarks` (). TevaIueofacommodity,recaII,isxedbythesociaIIy
necessary "Iabour-time reguired to produce any use-vaIue under the
conditionsofproductionnormaIforagivensocietyandwiththeaverage
degree ofskiII and intensity ofIabour prevaIent in that society` (:z,).
WhathappensifanindiduaIcapitaIistdepartsfromthissociaIaverage
and sets up aproductive system which is super-emcientand insteadof
producingtenwidgetsinanhourproducestwentyIfonecapitaIistdoes
thatbutaIItheothersstiIIproduceattherateoften,thenthisonecapitaIist
can scII at or cIosc to thc sociaI avcra

c oftcn whIc roducingandselling

twenty."eindividuaIvaIue ofthese articIesisnowbeIowtheir sociaI
vaIue, in other words, they have cost Iess Iabour time than the great
buIk ofthe same articIe produced under the average sociaI conditions"
().TheinnovativecapitaIistgainsanextraprot,extrasurpIus-vaIue,
by seIIing at orcIose to the sociaI average whiIe producing at a rate of
productivity far higherthanthe sociaI average. Tis gap iscruciaIand
yieIdsaformofreIativesurpIus-valuetotheindividuaIcapitaIist.Inthis
case,itdoesnotmatterwhetherthecapitaIistisproducingwagegoodsor
Iuxuries.uthowdoesthiscapitaIistseIItheextratenwidgetsperhourat
I. Marx, Grundrissc, 552.
1 t comrtNioN fo mtrx:s CAPI7AI
theoIdsociaI-average price HeretheIawsofsuppIyanddemandcome
intopIay.Andtheansweris,probabIy,thattheycannotbesoIdattheoId
price.SopricesbegintodecIine.AspricesdecIine,theothercapitaIistsare
facedwithIessproht.Tisamountsto aredistribution ofsurpIus-vaIue
fromthosewithinferiortechnoIogiestothosewithsuperiortechnoIogies.
T!oseworkingwithaninferiortechnoIogy,therefore,haveanincreasing
competitive incentive to adopt the newtechnoIogy. Once aIIcapitaIists
inthis Iine ofproduction foIIow suit and adoptthe newtechnoIogyto
produce twenty widgets an hour, so the sociaIIy necessary Iabor-time
congeaIedinwidgetsdecIines.
T!is form ofreIative surpIus-vaIue,which accrues to the individuaI
capitaIist, onIy Iasts as Iong as he or she has a superior technoIogy in
reIationshiptoeverybodyeIse.tisephemeraI.
Tis cxtra surpIus-vaIuc vanishcs as soon as thc ncv mcthod ot production
is generaIized, for then the dierence between the individuaI vaIue of
the cheapened commodity and its sociaIvaIue vanishes.Te Iaw ofthe
determination ofvaIueby Iabour time makes itseIffeIttothe individuaI
capitaIistwho appIies thenewmethodofproductionby compeIIinghim
toseIIhisgoodsundertheirsociaIvaIue,thissameIaw,actingasacoercive
Iawofcompetition,forceshiscompetitorstoadoptthenewmethod.(]6)
Sothe hrst form ofreIative surpIus-vaIueconsidered in this chapteris
acIassphenomenon.H accrues to thewhoIecapitaIist cIass, andit is as
permanentasconditionsofcIassstruggIeoverthevaIueofIabor-power
aIIow.T!esecondformisindividuaIandephemeraI.tisthissecondform,
the onethatconfers individuaI advantage,thatindividuaIcapitaIistsare
forcedtopursueviathecoerciveIawsofcompetition.T!eresuItisthataII
capitaIistsatsomepointorotherareforcedtoadoptthesametechnoIogy.
T!etwoformsofreIativesurpIus-vaIuearenotunreIated,sinceephemeraI
innovationsinthewage-goodssectorwiIIaIsodrivedown thevaIue of
Iabor-power at a physicaIIymed standard ofIiving."CapitaI therefore
has an immanent drive, and a constant tendency, towards increasing
the productivity ofIabour, in order to cheapen commodities, and, by
cheapeningcommodities,tocheapentheworkerhimseIf"(|6-;).
ut ifyouarea savycapitaIist,youwiIIknowthatyoucan aIways
get this secondephemeraIform ofreIative surpIus-vaIue,providedyou
aIways have a superior technoIogy. T!is generates some interesting
rrttfivr surrtus-vttur 1
V
resuIts.SupposethenewtechnoIogyisanewmachine.Marxhasargued
that machines,since theyare deadIabor, cant produce vaIue. utwhat
happens whenyouget extrareIative surpIus-vaIuebecauseofyournew
machineWhiIemachinesarenotasourceofvaIue,theycanbeasource
ofreIativesurpIusvaIuetotheindividuaIcapitaIist|Oncethesemachines
become generaI, they can then appear to be a source of the reIative
surpIus-vaIuetothewhoIecapitaIistcIassbecauseofdecIinesinthevaIue
ofIabor-power. is produces a pecuIiar resuIt. machines cannot be a
sourceofvaIue,buttheycanbeasourceofsurpIus-vaIue.
From thewayMarxhas setup theargument,we see thatthere isa
tremendousincentiveforIeapfroggingtechnoIogicaIinnovationsamong
individuaI capitaIists. I get ahead ofthe pack, I have a superior, more
emcient production system thanyou,I getthe ephemeraIsurpIusvaIue
forthreeyears,andyouthencatchupwithmeorevengobeyondmeand
gettheephemeraIsurpIusvaIueforthreeyears.IndividuaIcapitaIistsare
aII hunting ephemeraI surpIus-vaIue through new technoIogies. Hence
thetechnoIogicaIdynamismofcapitaIism.
Now, most other theories of technoIogicaI change treat it as some
sort ofdcu: cx muchinu, some exogenousvariabIe outside the system,
attributabIe to the inherent genius of entrepreneurs or simpIy to the
immanentcapacityofhumanbeingsforinnovation.tMarxisticaIIy
reIuctanttoattributesomethingascruciaIasthistosomeexternaIpower.
Whathedoes hereis hndasimpIewayto expIainwhycapitaIism is so
incredibIytechnoIogicaIIydynamicfromtheinsideendogenousIy,aswe
Iiketosay) .HeaIsoexpIainswhycapitaIistshoIdthefetishisticviewthat
machinesarea source ofvaIue,andwhyaofusare aIso subectto the
SdH0 I0!ISh C0BC0!I0B. uMrxis resoIute Machines are a source of
reIativesurpIus-vaIuebutnotofvaIue.SincecapitaIistsareinterestedin
themassofsurpIus-vaIue,andsincetheywouIdgeneraIIyprefertogain
reIative surpIus-vaIueratherthan confront cIass struggIes over absoIute
surpIus-vaIue,thenthefetishbeIiefina"technoIogicaIhasananswer
to their ambitions is aII too understandabIe.Weeven have ahardtime
disabusingourseIvesofit.
ut there is another interesting inference to be drawn that Marx
refrains from examining,though he does IightIy aIIude to it eIsewhere.
SupposeworkersIiveonbreadaIone,andthecostofbreadiscutinhaIf
because ofincreases in productivity. Suppose that capitaIists cut wages
by a guarter. ey gain the coIIective form of reIative surpIus-vaIue,
I/o t comrtNioN fo mtkx: s CAPI7AI
thus increasing the genera

rate of expIoitatio. ut at the same time,

the workers can buy more bread and raise their physicaI standard of
Iiving.TegeneraIguestionthisposesis,howaregainsfrom increasing
productivitysharedbetweenthcIassesOnepossibIeresuIt,whichMarx
unfortunateIy negIects to emphsize, is that the physicaI standard of
Iivingofworkerscanrise,asmeasuredbythemateriaIgoods(use-vaIues)
theycanaord,atthesametimeastherateofexpIoitation,sv,increases.
Tis is an important point, because one of the criticisms freguentIy
heardaboutMarxisthathebeIievesinarisingrateofexpIoitation.How
canthat be, ask the criticsWorkers (at Ieast inthe advanced capitaIist
countries)nowhavecarsandaIItheseconsumergoods,soobviousIythe
rate ofexpIoitation cannot be increasing| Are notfheworkers somuch
better o One part ofthe answer is that it isperfectIyfeasibIe, in the
terms ostuIated inMarx`s theoy, for steady increases to occur in the
sfandard oflivingoflabor af fhe samefime asfhe rafe ofeploifafion
eitherincreases orremains constant. (The ot

erpart mightbeto point

tothe benehts that accrue to one portion ofthegIobaIworking cIass as
areturnonimperiaIistpracticesofexpIoitatiooftheotherportion,but
thatcannotbeappeaIedtohere.)
IsayitwasunfortunatethatMarxdidnothasizethispointinpart
because itwouIdhave easiIyforestaIIed an erroneous,spuriousIine of
theoreticaIandhistoricaIcriticism.utitwou

dhaveaIsomadeusfocus
morecIearIyontheguestionofhowbenehtsfromgainsinproductivity
get sharedasacruciaIaspectofthehistoryofcIassstruggIe.In the case
ofthe United States, some share ofthegainfromhigherproductivity
wenttothe workers fromthe CiviIWar periodonward.AtpicaIunion
bargainingstrategyistoagreetocoIIaboratewithincreasingproductivity
in return forhigherwages.IfthebenehtsfrotechnoIogicaIdynamism
are spread around, then opposition to that technoIogicaI dynamism
becomes muted even as capitaIists are ceerfuIIy raising the rate of
expIoitation. PoIiticaI opposition to capiaIism in generaI aIso may
becomeIessstrident,eveniftherateofexpIoitationisincreasing,because
workersareatIeastgainingahiherphysicIstandardofIiving.Teodd
thingabouttheUnitedStatesisthatitisonIyinthepastthirtyyearsor
sothatworkershavefaiIedtogainfromrisingproductivity.ecapitaIist
cIasshasappropriatedaImostaIIthebenets.ThisIiestthecoreofwhat
theneoIiberaIcounterrevoIutionhasbeen aboutandwhatdistinguishes
itfromfheeynesianweIfarestateperiod,whengainsfromproductivity
RELATIVE SURLUS-VALUE 1]1
tcndcd to bc sharcd morc cvcnIy bctwccn captaI and Iabor. JcrcsuIt
has bccn,asswcII documcntcd,atrcmcndous ncrcascnIcvcIsotsocaI
ncguaItyn aIIthosccountrcsthathavcmovcddownncoIbcraI Incs.
npartthshasto do wth thcbaIanccotcIasstorccs andthc dynamcs
otcIass sruggIc n dHcrcnt pIaccs, whIc n thc Untcd Statcs, chcapcr
mportsandmpcraIstpractccs)havcaIsohcIpcdworkcrsmantanan
IIusonthat pcrhaps thcymaybcbcnchtngtromcaptaIstmpcraIsm.
ButaIIthsIcswaybcyondwhatMarxstcxtsproposng.hndthcIptuI,
howcvcr,tocxtcndhskcynsghts n thcscdrcctons.
CHAPTER 1] CO-OPERATION
Jc thrcc chaptcrs that toIIow dcaI wth thc varous ways n whch
captaIstscanprocurc rcIatvc surpIus-vaIuc otthcndvduaIsort.Jc
ovcraIItocussonwhatcvcrtsthatrascsthcproductvtyotIabor,and
t s cIcar that ths dcpcnds on organzatonaI torms coopcraton and
dvsonsotIabor),aswcIIas onmachncryandautomaton tcchnoIogy,
as wc usuaIIy thnk ot t). Js can crcatc somc contuson, sncc Marx
somctmcs bundIcs aII thcsc stratcgcs togcthcr undcr thc hcadng
"productvctorccsbutthcnon occasonuscsthctcrm"tcchnoIogyast
twcrcthcsamcthng.HcscIcarIyasntcrcstcdnorganzatonaItorm
thcsohwarc,as twcrc) ashcsnthc machncs thchardwarc). thnk
t bcst to assumc that Marxs thcory ottcchnoIogy/productvc torccs s
machncrypIusorganzatonaItorm.hndhsstancconthspartcuIarIy
rcIcvantsncc,nrcccnttmcs,transtormatonsnorganzatonaItorm
subcontractng,just-n-tmcsystcms,corporatcdcccntraIzaton andthc
IIkcavcpIaycdamaOrroIcInthcgucsttoncrcascproductvty.hIc
thc prohtabIty otWaI-Mart has ts bass n thc cxpIotaton otchcap
ChncscIabor,thccmccncyotts organzatonaI torm scts t aparttrom
many otts compcttors.SmIarIy, thc [apancsccongucstotthc US auto
markctatthccxpcnscotOctrothadasmuchtodowththcorganzatonaI
torm just-n-tmc and subcontractng) otthc [apancsc car compancs
aswth thc ncwhardwarc and automaton thcy dcpIoycd. ndccd, cvcr
sncc tmc-and-moton studcs and what bccamcknown as 1ayIorsm)
bccamc tashonabIc around :,oo,thcrc has aIways bccn a strong Ink
bctwccnthchardwarcandthcsohwarcotcaptaIstproductonsystcms.
Marx bcns by cxamnng how two organzatonaI torms
coopcratonanddsonsotIaborcanbcuscdbycaptaIundcrcxstng
t/z t comrtNioN fo mtrx:s CAPI7AI
technoIogicaI conditions of artisanaI andhandicran Iabor to increase
productivty.InnovationsinthesetwoaspectsoforganizationaIformhave
been integraI totheacguisitionofreIativesurpIus-vaIuethroughoutthe
historyofcapitaIism,andwe shouId neverforgetthem.Asinthechapter
ontheIaborprocess,however,wherethepotentiaInobiIityoftheprocess
isstressedincontrasttoitsaIienatedformundercapitaIism,Marxcasts
neithercooperationnordivisionofIaborinaninherentIynegativeIight.
He views them as potentiaIIy creative, benehciaI and grati(ng for the
Iaborer.CooperationandweII-organizeddivisionsofIaborarewonderfuI
human capacities that add to our coIIective powers. SociaIism and
communismwouIdpresumabIyhavegreatneedofthem.WhatMarxwiII
seektoshowishowthesepositivepotentiaIitiesareseizedonbycapitaIto
itsownparticuIaradvantageandtherebyturnedintosomethingnegative
fortheIaborer.
When numerous workersworktogether side by side inaccordance
withapIan,whetherinthe sameprocess,orin dierentbutconnected
processes, this form ofIabour is caIIed cooperation'' Note the word
"pIan"here, since it's going to become an importantidea. Cooperation
permits,forexampIe,anincreasingscaIeofproduction,andtheresuItant
economies of scaIe can generate increases in Iabor emciency and
productivty. his is made much of in conventionaI economic theor
andMarxdoesnotdemur."NotonIydowehavehereanincreaseinthe
productive power ofthe individuaI,by means ofco-operation,but the
creation ofa newproductive power,which is intrinsicaIIy a coIIective
one"(). !iscoIIectivepower
begetsinmostindustriesarivaIryandastimuIationofthe'animaIspirits
which heightens the eciencyofeach individuaIworker.Tis iswhya
dozenpeopIeworkingtogetherwiIIproduce farmore,intheircoIIective
working dayof(( hoursthan tweIve isoIated men eachworking for z
hours.(((]-()
Furthermore,"co-operation aIIowswork to be carried on over a Iarge
area"whiIerendering
possibIeareIative contraction ofitsarena.Tis simuItaneous restriction
ofspace andextensionofeectiveness,whichaIIowsaIargenumberof
incidentaIexpenses. . . tobespared,resuItsfromthemassingtogetherof
RLATIV SURLUS~VALU /{
workersandofvariousIabourprocesses,andfrom the concentrationof
themeansofproduction.(6)
Tere is an interesting tension here between geographicaI expansion
(work conducted over a Iarge area) and geographicaI concentration
(bringingworkers together forpurposes ofcooperation in aparticuIar
space).eIatter,asMarxpointsout,canhavepoIiticaIconseguencesas
workersgettogetherandorganize.
Heinsists,however,that"thespeciaIproductivepowerofthecombined
workingdayis,underaII circumstances,the sociaI productivepowerof
Iabour,ortheproductivepowerofsociaIIabour.Tispowerarisesfrom
co-operation itseI' Furthermore, "when the worker co-operates in a
pIannedwaywithothers,hestripsothefettersofhisindividuaIity,and
deveIopsthecapabiIitiesofhisspecies"(;).Tisisoneofthoseinstances
whereMarxrevertstosomenotionofuniversaIspeciesbeing,whichwas
an important theme in theLconomic und Ihi/o:ohicu/ Aunu:cri/: of
8.Atthispoint,it ishardtoviewthisdiscussionofcooperation ina
negativeIight.WestripothefettersofourindividuaIityanddeveIopthe
capabiIityofthespecies.othedegreethatthiscapabiIityhasnotbeen
reaIized,wehaveyettoreaIizethepotentiaIityofourspeciesbeing.
ut what happens when we return to the worId of"our wouId-be
capitaIist"Firsto,thecapitaIistneedsaninitiaImassofcapitaIinorder
toorganizecooperation.Howmuch,andwheredoesitcomefromTere
arewhatwenowusuaIIyrefertoasbarrierstoentryintoanyproduction
process. In some instances,the start-up costs can be considerabIe. ut
there are ways to ameIiorate this probIem. Marx here introduces an
importantdistinction.'trst,thesubectionofIabourtocapitaIwaonIy
aformaIresuItofthefactthattheworker,insteadofworkingforhimseIf,
works for, and conseguentIy under, the capitaIist'' ut as time goes on,
"through the co-operation ofnumerous wage-Iabourers,the command
ofcapitaIdeveIopsintoareguirementforcarryingontheIabourprocess
itseIf,intoareaIcondition ofproductio (8). The distinctionhereis
betweenthe"formaI"subsumptionofIaborundercapitaIversusits"reaI"
subsumption.
Whatdoes thisdierencemean UnderwhatwascaIIedtheputting
outsystem,merchantcapitaIistswouIdtakemateriaIstoIaborersintheir
cottagesandreturntocoIIecttheworked-upproductataIaterdate.The
IaborerswouIdnotbesupervised,andtheIaborprocesswouIdbeIehup
t/(
t comrtNioN fo mtrx:s CAPI7AI
to the cottagers (itonen entaiIed famiIyIaborandwasdovetaiIed with
subsistence agricuIturaI practices) . ut the cottagers depended on the
merchant capitaIists for their monetary incomes and did not own the
producttheyworkedup.ThisiswhatMarxmeansbyformaIsubsumption.
WhenIaborersarebroughtintothefactoryforawage,thenboththeyand
theIaborprocessareunderthedirectsupervisionofthecapitaIist.Thisis
reaIsubsumption.SotheformaIisoutthere,dependent,whiIethereaIis
insidethefactoryunderthesupervisionofthecapitaIist.TheIatterentaiIs
morestart-up costs,moreinitiaIcapitaI,intheearIystagesofcapitaIism,
whencapitaIwas scarce,theformaIsystemofexpIoitationcouIdweIIbe
moreadvantageous.MarxbeIievedthatovertime,theformaIwouIdgive
way to the reaI. ut he was not necessariIy correct in this. The revivaI
ofcontractwork, home working andtheIikeinourtimesindicatesthat
somereversiontoformaIkindsofsubjectionandsubsumptionisentireIy
possible.
WhenIaborersarebroughtinto acoIIectivestructureofcooperation
in a factory, they come under the directing authority ofthe capitaIist.
Any cooperative endeavor reguires some directing authority, much
as a conductor directs an orchestra. The probIem is that "the work of
directing,superintending and adjusting becomes one ofthe functions
of capitaI, from the moment that the Iabour uder capitaI's controI
becomesco-operative''Furthermore,"asaspecihcfunctionofcapitaI,the
directingfunctionacguiresitsownspeciaIcharacteristics'Thisfunction
istorecognizethatmomentsaretheeIementsofprohtandtosgueezeas
muchIabor-timeoutoftheIaboreraspossibIe.Ontheotherhand,"asthe
numerofco-operatingworkersincreases,sotoodoestheirresistanceto
thedominationofcapitaI,and,necessariIy,thepressureputonbycapitaI
toovercomethisresistance"(((p).
ThestruggIebetweencapitaIandIabor,whichweearIierencountered
in the Iabor market,gets internaIized on the shop Ioor. This happens
becausecooperationisorganizedthroughthepowerofcapitaI.Whatwas
onceapowerofIabornowappearsasapowerofcapitaI.
e interconnection between their various Iabours confronts the
laborers] , inthereaImofideas,asapIandrawnupbythecapitaIist,and,in
practice,ashisauthority,asthepowerfuIwiIIofabeingoutsidethem,who
subjectstheir activitytohispurpose.((,o)
rrtt1ivr surrtus-vttur 1j
Te capitaIist's purpose is to secure "on the one hand a sociaI Iabour
process for te creation ofa product, and on the other hand capitaI's
processofvaIorization'i.e.,theproductionofsurpIus-vaIue.TisentaiIs
thedeveIopmentofaspecihckindofIaborprocessinwhichthe"workof
directandconstantsupervisionoftheindividuaIworkersandgroupsof
workers"resuItsin"a speciaIkindofwage-Iabourer.AnindustriaIarmy
ofworkers underthecommandofa capitaIist reguires,Iike areaIarmy,
omcers(managers)andN.C.O.s(foremen,overseers)''Acertainstructure
ofsupervision oftheworkers emerges which isbothauthoritarian and
"pureIy despotic'' In this, the capitaIist acguires a distinctive roIe as
orchestrator oftheIabor process in aII its aspects."It isnotbecausehe
isaIeaderofindustrythatamanisacapitaIist, onthecontrary,heisa
IeaderofindustrybecauseheisacapitaIist.TeIeadershipofindustryis
anattributeofcapitaI"(o-:). OnIybywayofcommandovertheIabor
process cancapitaIbeboth producedandreproduced.aborers,onthe
otherhand,
enterinto reIationswiththecapitaIist,butnotwitheachother.Teirco
operation onIy begins with the Iabour process,but by then they have
ceased to beIong to themseIves. On entering the Iabour process they
are incorporatedintocapitaI.As co-operators,asmembersofaworking
organism,theymereIyformaparticuIarmodeofexistenceofcapitaI.
WorkersIosetheirpersonhoodandbecomemere variabIe capitalTisis
whatMarxmeansbythereaIsubsumptionoftheIaborerundercapital
Tc sociaIIy productivc powcr of Iabour dcvcIops a a frcc gih to capitaI
whcncvcr thc workcrs arc pIacd undcr ccrtain conditions, and it isapital
which pIaces them under these conditions. ecause this power costs
capitaInothing,whiIeontheoherhanditisnotdeveIopedbytheworker
untiIhisIabouritseIfbeIongstocapit,itappearsasapowerwhichcapitaI
possessesbyitsnatureaproductivepowerinherentincapitaI.()
An inherent power of Iabor, the sociaI power of cooperation, is
appropriated bycapitaI and made to appear as a power ofcapitaI over
the workers.HistoricaIexampIes ofenforced cooperation abound-the
MiddIe Ages, sIavery, coIonies, sIave Iaborbut under capitaIism the
connectionoforganizedcooperationtowageIaborismanifestinspeciaI
ways.TishadakeyroIeintheriseofcapitaIism.
t/6 t comrtNioN fo mtrx: s CAP7AI
TesimuItaneousempIoymentofaIargenumberofwageIabourersinthe
sameIabourprocess. . . formsthestarting-pointofcapitaIistprduction.
This starting-point coincides with the birth ofcapitaIitseIf. fthen, on
theonehand,thecapitaIistmodeofproductionisahistoricaIIynecessary
condition for the transformation of the Iabour process into a sociaI
process,so,ontheotherhand,thissociaIform oftheIabourprocessis a
methodempIoyedbycapitaIforthemorepro6tabIeexpIoitationofIabour,
byincreasingitsproductivepower.()
Tis originary status of a certain form of cooperation is perpetuated
throughoutthewhoIehistoryofcapitaIism.
SimpIecooperationhasaIwaysbeen,andcontinuestobe,thepredominant
forminthosebranchesofproductioninwhichcapitaIoperatesonaIarge
scaIe,butthedivision ofIabourandmachinerypIayonIyaninsignicant
part . . . ooperation remains the fundamentaI form ofthe capitaIist
modeofproduction,aIthoughinitssimpIeshapeitcontinuestoappearas
oneparticuIarformaIongsidethemoredeveIopedones. ()
H is impossibIe to imagine the capitaIist mode ofproduction without
cooperation,aIbeit cooperation under the despotism ofcapitaIists who
organize and direct a supervisory authority and fragmentthe working
cIass into distinctive hierarchicaI groupings. H is, therefore, no Ionger
adeguate to think mereIy about /hc wage Iaborer,because the working
cIassisstratihedaccordingtoboththestatusandthedierentiaIhnanciaI
reward attached to the dierent nctions reguired to constitute the
despotismofacooperativeapparatusdedicatedsoIeIytotheproduction
ofsurpIus-vaIue.
CHAPTER :|. THE DIVISION OF LABOUR AND MANUFACTURE
Chapter : examines divisions of Iabor. Marx concentrates here on
the reorganization of existing handicrans, existing skiIIs, existing tooI
technoIogiesandtheIikeintoanewsystemthathecaIIs"manufacturing''
T!ereorganizationcanbedoneintwoways.Tehrstistobringtogether
inthesameworkshop,"underthecontroIofasingIecapitaIist. . . workers
beIongingtovariousindependenthandicrans"(|,,). TeexampIeheuses
is carriagemaking,where wheeIs, uphoIstery, frame,etc.aIIhave tobe
made separateIyandthen assembIed.Tiscontrasts with making naiIs
krtt+tvr sukrtus-vttur 1
orneedIes.In this case,theprocess starts with rawmateriaIsandpasses
throughacontinuousprocessuntiIitcomesoutasanaiIoraneedIe.ut
inbothcases,"whatevermayhavebeenitsparticuIarstarting-point,its
hnaIformisaIwaysthesame-aproductivemechanismwhoseorgansare
humanbeingsTatis,humanbeingsarebroughttogetherintoacertain
kindofreIationshiptooneanotherinsidethecooperativeregimeofthe
productionspace.
Such reorganizations do not, however, Ieave the originaI skiIIs
untouched."Te anaIysis ofa process ofproduction into its particuIar
phasesherecoincidescompIeteIywiththedecompositionofahandicran
intoits dierentpartiaIoperations"(;).Whentheproductionprocess
isseenasawhoIe,opportunitiesarisetospIititupintosmaIIerfragments
andgetspeciaIizedworkerstoengageoneachfragment,eitherinterms
ofthe continuous seguence or in terms ofthe heterogeneityofmany
dierent handicrans. NevertheIess, "handicran remains the basis, a
technicaIIynarrowbasiswhichexcIudesareaIIyscientihcdivisionofthe
production process into its component parts'' Tis pIainIy constitutes
abarrierto the progress ofcapitaIist production, andas IhaveaIready
argued, capitaI doesnt Iike barriers and perpetuaIIy seeks to overcome
them.TedimcuItyinthiscaseisthat
everypartiaIprocessundergonebytheproductmustbecapabIeofbeing
donebyhand,andofformingaseparatehandicran.RispreciseIybecause
the skiII of the cransman thus continues to be the foundation of the
production processthateveryworkerbecomes excIusiveIyassignedto a
partiaIfunctionadthathisIabour-powerbecomestransformedintothe
Iitc-Ion

oran ofths garta! function.
TeresuIt isthatworkers, instead ofhavingthe freedomto move from
one activityto another,are increasingIyIocked into aparticuIar skiII, a
particuIarhandicran,the use ofaparticuIar set ofspeciaIized tooIs."A
worker who performs the same simpIe operation for the whoIe ofhis
Iife converts his bodyinto the automatic, one-sided impIement ofthat
operation (). Is the worker in controI ofthe tooI or is the tooI in
controI ofthe worker Marx suggests that the sociaI imprisonment of
workers in a particuIar speciaIization within the division ofIabor puts
them in apositionofbeingsoconnected totheir speciaIized tooIsthat
theyIosetheirfreedom.TishasnotaIwaysbeenso.
t/8 A COMPANION TO MARX' S CAPI7AI
AcrasmanwhoperformsthevariouspartiaIoperations. . . mustatone
timechangehis pIace,at anothertimehis tooIs. Thetransitionfromone
operationtoanotherinterruptstheowofhisIabourandcreatesgapsin
his workingday,sotospeak.
ut capita doesnt Iike such gaps in the working day, since moments
are the eIements ofpro6t. Tese gaps"cIose up when he is tied to the
same operation the whoIe dayIong'` On the other hand, this can be
counterproductive since"constantIabourofone uniformkind disturbs
theintensityandowofamansvitaIforces,which 6ndrecreationand
deIightinthechangeofactivityitseIf"(6o).
ThisisapartiaIconcessiontoFourier`sviewof theimportanceof variety
andstimuIus in theIaborprocessas opposedto the duIIimprisonment
ofone person,withonetooI,inthedivisionofIabor,foraIifetime.Te
positive and neative aspects ofhowthedivisionoflabor is oranied
undercapitaIistcontroIstartto enterinto theargument.Thisargument
hasnotgoneaway,evenwithincapitaIism.Theattempttoraiseemciency
andproductivityintheIaborprocessbyintroducing"guaIitycircIes"and
varietyoftaskingtocounteractthemonotonyofIaborhasbeenthefocus
ofmanyexperimentsbycapitaIist6rmsincertainIinesofproduction.
In section j, Marx sets up a more systematic contrast between two
fundamentaI forms ofmanufacture-heterogeneous (bringingtogether
many skiIIs, as in arriage and Iocomotive making) and organic
(continuous, Iike naiI making) . ut he here takes the opportunity to
introducetheconceptofthe"coIIectiveworker`who,hesays,is
formedfromthecombinationofthemanyspeciaIizedworkers,drawsthe
wirewithonesetoftooIed-uphands,straightensthewirewthanotherset,
armedwithdinerenttooIs,cutsitwithanotherset,pointsitwithanother
set,andsoonThedinerentstagesoftheprocess,previousIysuccessivein
time,havebecomesimuItaneousandcontiguousinspace.((6()
ProductivityandemciencydependnotontheindividuaIworkerbuton
theproperorganizationofcoIIectivework.
This means carefuI attention must be paid to the space-time
organization of production and the emciencies that can be gained
throughspatiotemporaIreconstructionoftheIaborprocessasahoIe.
Marxpoints outthatby no/ Iosinganytime,yougaininproductivity.
RELATIVE SURLUS~VALUE 1Q
By rationalizing the way in which space is organized, you can save
on movement costs. So the whole space-time structure becomes an
organizational question for how capitalism works. Tis was the big
innovation that the Japanese introduced into the labor process in
the :,;o with ]ust-in-time production, the tight scheduling ofows
of goods in space and time such that you had almost no inventory
anywhereinthesystem.Thiswas/hc innovationwhichgavetheJapanese
carindustryitscompetitiveadvantageoverallothersduringthe:,os,
andtheJapaneserakedintheephemeralformofrelativesurplus-value
until everyone else caught up. The downside ofthis system is that it
is vulnerable to disruption. Ifone link in the spatiotemporal chain is
stopped by, for example, a strike, then everything has to close down
becausethereisnoinventory.
Marx here clearly recognizes that a ma]or organizational aspect of
a capitalistic system is how space and time get set up and understood.
Tecapitalisthastocomeupwithaplanforanemcientspatiotemporal
production system. But this in turn implies an important distinction
betweenwhathappensinthemarketplaceandwhathappenswithinthe
nrm."Therulethatthelabour-timeexpendedonacommodityshouldnot
exceedtheamountsociallynecessarytoproduceitisonethatappears,in
theproduction ofcommodities in general,tobe enforcedfromoutside
bytheactionofcompetition"(notetheimportanceofcompetitiononce
more). But"in manufacture, on the contrary, the provision ofa given
quantityoftheproductin agivenperiodoflabourisatechnicallawof
the process ofproduction itself" (). Tis distinction (contradiction)
betweenwhatmarketlogic enforces andwhatcanbedonebyinternal
Q8HHIHg IS VI!8 OI !h6 8IguH6H! !h8! OOWS. uttheulloweringo
thiscontradictionishinderedbytheexistenceofabarrierduetothefact
thatwearestilldealingwithhandicrahsandartisanal labor.Thisprompts
ageneralcommentofsomeimportance
TeRomanEmpirehandeddowntheelementaryform ofamachinery
inthe shapeofthewater-wheel.Tehandicranperiodbequeathedtous
the great inventions ofthe compass,gunpowder,te-printing and the
automatic clock. But on the whole, machinery played that subordinate
part which Adam mith assigns to it in comparison with division of
labour.()
o t comrtNioN fo mtkx:s CAPI7AI
That is, up untilthe end ofthe eighteenth century, capitalistswere not
reallyhoming inonnewmachineryasa primarywayto improvetheir
productiveemciency.Teyweregenerallycontenttouseexistingmethods
ofproduction andreorganizethem. Ofcourse therewereinnovations,
likecompassandgunpowderandalltherestofit,butcapitalismhadnot
yetinternalizedthedynamicofperpetualtechnologicalinnovationinthe
heartofthelaborprocessitself.Tathappenedlateron,withtheriseof
machineryadmodernindustry(thesub]ectofchapter:).
Tecapitalist reorganization oflabor processes has serious impacts
ontheworker."Thehabitofdoingonlyonethingconvertshiminto an
organ which operates with the certaintofa force ofnature, while his
connectionwith thewholemechanism compelshim toworkwith the
regularity of a machine''Workers "are divided, classi6ed and grouped
accordingtotheirpredominantqualities'andtheresultis"ahierarchyof
labourpowers,towhichtherecorrespondsascaleofwages"((68-p) . e
distinctionbetween skilledandunskilledlaborers becomes particularly
marked.
Alongside the gradations of the hierarchy, there appears the simple
separationoftheworkersintoskilledandunskilled.Forthelatter,thecost
ofapprenticeshipvanishes,for theformer,itdiminishes,comparedwith
thatrequiredofthecrasman. . . lnbothcasesthevalueoflabour-power
falls
Capitalistreorganizationsandrecon6gurationsoftaskstendtoproduce
deskilling, as tasks that were once complicated become simpli6ed into
componentparts.Thisalsohastheedectofreducingthevalueoflabor-
poweremployed.
The relative devaluation oflabour-power caused bythe disappearance
or reductionofthe expenses ofapprenticeshipdirectlyimplies ahigher
degreeofvalorizationofcapital,foreverhingthatshortensthenecessary
labour-timerequiredfor the reproduction oflabour-power, extendsthe
domainofsurpluslabour.
But"anexceptionto this lawoccurswheneverthedecompositionofthe
labour process gives rise to new and comprehensive functions, which
either did not appear at all in handicrahs or not to the same extent"
RLATIV SURLUS~VALU 1 1
(|;o) . nanyreorganizationofthelaborprocessthere canbea double
movement,it mustbe conceded, ofmass desklling alongside usuallya
much smallergroupthat'sreskilled (e.g. ,assemblyline engineers) . Te
lattersegmentsoftheworkingclassareusuallyempoweredandprivileged
relativetoothersegmentsoflabor.
Section|,titled"TeDivsionofIabourinManufacture,andtheDivision
of Iabour i Society,' is signincant an has some potentially fraught
implications.Marxhere returns to the distinction between the detailed
divisionoflaborintheworkshop,whichoccursunderheplanneddesign
anddirectsupervisionofthecapitalist,andthedivisionoflaborachieved
through competition in the market. These two forms originate from
"diametrically opposed" starting points but relate to each other. Marx
provides a briefand,I haveto say, not at all satisfactorydiscussion of
thehistoricalmovement."Withinafamilyand,aherfurtherdevelopment,
withinatribe,there springsup naturallyadivisionoflabour causedby
diderencesofsex and age, andthereforebasedonapurelyphysiological
foundation'Thisisanoversimplincationbased,asisthecasewithsome
ofhisotherhistoricalcommentaries,onverylittleevidence."Exchange'
hehypothesizes,
springsupatthepoints where diderentfamilies,tribes orcommunities
come into contact, for at the dawn of civilization it is not private
individuals butfamilies,tribes,etc.thatmeet on aninependentfooting.
iderent communities6nddiderentmeans ofproductionanddiderent
meansofsubsistenceintheirnaturalenvironment.Hecetheirmodesof
production and Iiving, as vcII as thcir products, arc dicrcnt.
Exchange relations arise between diderent communities with diderent
assets, diderent resources, diderent products."The foundation ofevery
divisionoflabourwhich has attained a certain degree ofdevelopment,
and has been brought about by the exchange of commodities, is the
separationoftownfromcountry''Thedialecticoftown-countryrelations
is,hesuggests(correctly,imyview),importanthistorically,buthedoes
notelaborateonhowandwhere.Furthermore,anadequate"numberand
densityofthepopulatioisrelevanttotheriseofcapitalism(|;-z).This
is,hesays,"apre-conditionforthedivisionoflabourwithinsociety''
1 2 t comrtNioN fo mtrx:s CAPI7AI
But this densiismore orless relative.A relatively thinlypopulated
country, with well-developed means of communication, has a denser
poplation than a more numerously populated country with badly
developedmeansofcommunication.lnthissense,thenorthernstatesof
theUS.A.forinstance,aremorethicklypopulatedthanIndia.
Marx's appeal here to a relative theory ofspacetime relations is quite
innovative.Tegeographicalterrainonwhichcapitalismdevelopedwas
notnxedbutvaried, depending notonlyon densityofpopulations but
also on transport and communication technologies. His central point
is that the division oflabor in manufacture assumes that society has
already"attainedacertaindegreeofdevelopment.Invrsely,thedivision
oflabour in manufacture reactsbackuponthat . . . society, developing
andmultiplyingitfurther"(;). Hearguesforwhatiscalledincreasing
roundaoutness in and complexi of production. Te movement is
fromasimplesituationwheresomebodymakesonethingtoasituation
whereseveralpeoplemakepartsofthatthingandtradethosepartsinthe
marketuntilallthepartsgetassembledbysomeoneelseattheend.Tis
increasingroundaboutnessgeneratesincreasingpossibilityforterritorial
specialization.
The territorial division of labour, which connnes special branches of
productiontospecialdistrictsofacountry,acquiresfreshstimulusfrom
the system ofmanufacture,which exploits all natural peculiarities. Te
colonial system and theextension oftheworld market,both ofwhich
formpartofthegeneralconditionsfortheexistenceofthemanufacturing
periodanimportantpointthatweshouldnotewell ,furnishuswithrich
materialsfordisplayingthedivisionoflabourinsociety.
utwhlehereare"analogiesandlinks"etweenthedivisionoflaborin
soceandwithinthe workshop,they"di6ernotonlyin degree,butalso
nknd"(somethingthatAdamSmith,asMarxrightlyacknowledges,was
concernedwith)(;).
Thedivisionoflabourwithin societyis mediatedthrough thepurchase
and sale of the products of diderent branches of industry, while the
connection between the various partial operations in a workshop is
mediated through the sale of the labour-power of several workers to
onecapitalist,whoappliesitascombinedlabour-powerTedivision of
RLATIV SURLUS~VALU
Iabourwithinmanufacturepresupposesaconcentrationofthemeansof
production in the hands ofone capitaIist, the divisionofIabour within
societypresupposesadispersaIofthosemeansamongmanyindependent
producers ofcommodities.hiIe,withintheworkshop,the iron Iawof
proportionaIitysubjectsde6nitenumbersofworkerstode6nitefunction,
inthesocietyoutsidetheworkshop,thepIayofchanceandcapriceresuIts
in amotIeypattern ofdistributionofthe producers andtheirmeans of
productionamongthevariousbranchesofsociaIIabour.
In the Iatter case, he argues, "the dierent spheres of production
constantIytendtowardseguiIibrium`buttheydosoonIythroumarket
mechanisms. And he then expIains why, going back over the Iaws of
exchangeofcommodities.Tismeansthatthe"constanttendencyonthe
partofthevariousspheresofproductiontowardseguiIibriumcomesinto
pIayonIyasareactionagainsttheconstantupsettingofthiseguiIibrium`
(;-6).Tatis,whendemandandsuppIygetoutofkiIterandhere,note,
we cannot do without suppIyand demand mechanisms), market-price
uctuationsforcethenecessaryad]ustmenttowardtheunderIyingvaIue
reIations asproducers change what they areproducingand how much.
Te resuItis a markedcontrast between"the pIanned and reguIated
riori systemonwhichthedivisionofIabourisimpIementedwithinthe
workshop and,ontheotherhand,"thedivisionofIabourwithinsociety`
ruIedby
an aposteriorinecessityimposedbynature,controIIingthe unreguIated
caprice of the producers, and perceptibIe in the uctuations of the
barometer of market prices. Division of Iabour within the workshop
impIies the undisputed authority of the capitaIist over men wo are
mereIy the members ofa totaI mechanism which beIongs to him. e
division of Iabour within society brings into contact independent
producersofcommodities,whoacknowIedgenoauthorityotherthanthat
ofcompetition,ofthecoercionexertedbythepressureoftheirreciprocaI
interests,justasintheanimaIkingdom,the'warofaIIagainstaII moreor
Iesspreservestheconditionsofexistenceofeveryspecies.((;6-;)
In these passages, note the dependence on both suppIy and demand
mechanisms and the coercive Iaws ofcompetition as necessary to the
achievementofsomesortofeguiIibriuminwhichvaIuereIationsprevaiI.
CapitaIism,MarxconcIudes,IivesaIwaysinthemidstofcontradiction
8 t comrtNioN fo mtrx:s CAPI7AI
between"anarchyinthe socialdivisionoflabourand despotisminthe
manufacturing division of labour'` Tese two aspects of the division
oflabor, furthermore,"mutually condition each other' Marx attaches,
however, some controversial and fraught political commentary to this
conclusion.
he same bourgeois consciousness which celebrates the division of
labourintheworshop,thelifelongannexationoftheworertoapartial
operation,andhis complete subJectionto capital,as an organization of
labourthatincreasesitsproductivepower,denounceswith equalvigour
everyconsciousattempttocontrolandregulatetheprocessofproduction
socially, asan inroaduponsuchsacredthings asthe rightsofproperty,
freedomandtheselfdetermininggeniusoftheindividualcapitalist.lt is
verycharacteristicthatthe enthusiastic apologists ofthefactorysystem
havenothing more damning to urge against a general organization o
laour n socety than that t would turn thewhole osoce nto a
factory.((;;)
Tese statements require some careful parsing. Capitalists love the
planned organization of production within their factory but abhor
the idea ofany kind of social planning of production in society. he
ideologicalcomplaintthatplanningisabadthing,andinparticularfor
capitaliststoattacitonthegroundsthatitwouldremaketheworldin
theimageoftheirownawfulfactories,isrevealing.hecondemnationof
planningdoesnotmeshwithwhatgoesoninsideToyotaorWal-Mart.
Successfulcorporationsdeploysophisticatedplanningtechniquesoftotal
qualitymanagement,input-outputanalysisandoptimalschedulingand
design,andplaneverythingdowntothennestdetail.Butitisonethingfor
arxtopointout thehypocriticalapproachofthe capitaliststoplanning
in the social realm, quite another to suggest that their undoubtedly
sophisticated techniques, deployed in the quest for relative surplus-
value,mightbeadequatefor theplanningofa socialistsocietyseeing
to augmentthe materialwell-being ofeveryone.Wouldit, in short,be
reasonabletoturntheworldinto acentrallyplannedeconomy, inedect
intoone largefactory,inthequestforsocialismObviously,therewould
beproblemsindoingsogivenarx'saccountoftheappallingconditions
offactorylabor.Butiftheproblemisnotthetechniquesbutthefactthat
theyare usedtogainrelativesurplusvalueforthecapitalistratherthan
toproduceenoughoutputtosatisthematerialneedsofall,thenIenins
rrtt1ivr surrtus-vttur 1 j
advocacyforFordistproductionismasagoalforSovietindustrybecomes
moreunderstandable.Wewillreturntothisquestionlater.
Certainly, the argument that centralized planning is impossible
because ofthe level of complexity or because it infringes on private
propertyrelations does not wash, given the complexityinvolved in any
large corporationproducing, say, electronics, and the dispossession of
thelaborer's right tothe fruits ofhis or er own labors.heincredible
ineciencies of the market system (particularly with respect to
the environment) and the periodic brutality of the coercive laws of
competition,alongwiththeincreasingdespotismthiscoerciontypically
produces in the workplace, are hardly great advertisements for the
superiority of market coordinations. And the idea that innovation is
onlypossible given individual propertyrights and the coercivelawsof
competitionissurelyfar-fetchedbothlogicallyandhistorically.Forwhat
IthinkimpressesMarxmosthereistheappropriationoftheproductive
powersoflaborbycapital.Againandagain,heinsiststotheworkingclass
that all thesepowers ofcooperation and ofdivisionsoflabor are /hc/r
productivepowersandthatcapitalisappropriatingthem.
Te productive power which results from the combination of various
kindsoflabourappearsastheproductivepowerofcapital.Manufacture
proper not only subJects the previously independent worker to the
disciplineandcommandofcapital,butcreatesinadditionahierarchical
structureamongsttheworkersthemselves.
Teimplicationsfortheworkersarefar-reaching.
t converts te worer ino a crippled monsrosiy by urherin his
particularskillasinaforcing-house,throughthesuppressionofawhole
worldofproductivedrivesandinclinations,ustasinthestatesofaPlata
theybutcherawholebeastforthesakeofhishideorhistalow.otonly
is the specialized work distributed among the dierent inividuals, but
theindividualhimselfisdividedup,andtransformedintotheautomatic
motorofadetailoperation,thus realizing the absurdfableofMenenius
Agrippa,whichpresentsmanasamerefragmentofhisownbody.((-z)
Sothebodypoliticsofthisisthatworkersarereducedtobeingfragments
ofthemselves."Unnttedbynature"andMarxisbeingironichere"to
make anything independently, the manufacturing worker develops his
1 t comrtNioN fo mtrx: s CAPI7AI
productive activityonIyasanappendageof the capitaIist`s workshop'`
SadIy,
the possibiIity of an inteIIigent direction of production expands in
one directio, because it vanishes in many others.What is Iost by the
speciaIizedworkersisconcentratedinthe

capitaIwhichconfrontsthem.
H istheresuItofthedivisionofIabourinmanufacturethattheworkeris
broughtfacetoface

iththeinteIIectuaIptentiaIities. . . ofthemateriaI
process ofproductionasthe propertyofnotherand as apowerwhich
ruIesoverhim.
InteIIectuaIIaborbecomesaspeciaIizedfunction,separatingmentaIfrom
manuaIIabor,withthe formerbroughtincreasingIyunderthe controIof
capital
isprocessofseparationstartsinsimpeco-operation. . . Hisdeeoped
inmanufacture,whichmutiIatestheworker,turninghimintoafragment
ofhimseIf.tis compIeted inIare-scaIeindustry,whichmakessciencea
potentiaIityfor productionwhi

hi distinct from Iabour andpresses it

intotheserviceofcapital((8z)
TeresuItofthisisanimpoverishmentoftheworker"andaseriousIoss
ofindividuaIpoductive power'`PoIiticaI andinteIIectuaI sub]ectivities
donotremainimmune.AndhereMarxcitesAdamSmith,notnecessariIy
approvingIybuasvoicingwhatincreasingIybecomesamatteroffact.
'Te understandings ofthegreater partofmen says Adam Smith,'are
necessariIyformedbytheirordinaryempIoyments.ThemanwhosewhoIe
Iifeisspent

inperformingafewsimpIe operations . . . hasnooccasionto

exert his understanding. . . HegeneraIIybecomesas stupid andignorant
as it is possibIe for a human creature to becomeAher describing the
stupidity of the speciaIizedworker, he goes on 'The uniformity ot his
stationaryIifenaturaIIycorrupts the courage ofhismind . .H corrupts
even the activityofhisbodyand renders him incapabIe ofexertinghis
strengthwithvigourand perseverance in anyother empIoyments than
thattowhichhehasbeenbred.HisdexterityathisownparticuIartrade
seems in this manner to be acquired at the expense ofhis inteIIectuaI,
sociaI, and martiaI irtues.ut in everyimprovedand civiIized society,
thisisthestateintowhichtheIabouringpoor,thatis,thegreatbodyofthe
peopIe,mustnecessariIyfaII((8])
rrtt1ivr surrtus-vttur
Marx seems partially inclined hee to accept to some degree Smits
characterization ofthe situation, and I, too, thinkit importantto askthe
genelquestiontowhatdegreedoourordinaryemploymentscorruptthe
courageofourminds thinktheproblem is widespread,notconnedto
workersatal.ournaists,mediapersonalities,universityprofessorswe8
havethisproblem(Ihaveplentyofpersonaleerienceofit).Tewidespread
reluctance to protest the militarism,the social in]ustices,the repressions,
thatsurroundusateveryturnhaveasmuchtodo(andinamoreinsidious
way)withthementalitiesandpolitical sub]ectivities that derive fromour
ordinaryemployments as they dowiththe sophisticated organization of
bourgeois repression.''Some crippling ofbody and mind is inseparable
evenfromthedisionoflabourinsocietyasawhole,'Marxconcedes,and
resultsinwhathecals''industrialpathology"().Again,wearetreading
ondangerousgroundhere.Surelyitwouldnotberighttopathologizethe
wholeoftheworkngcassYet itwouldbeutopiantosupposethat0 of
thishasnoimpactonpeoplesabilitiestoreact,tothink.Forthoseofyou
whohaveeverorganizedwththoseworkingtwo]obs(eightyhoursaweek),
youwnowtheproblemaltoowell.Workersinthatconditionhavelittle
ornotimetothinkabout(letalonereadabout) mostofthethingsthatwe
thintheyshouldthnabout,giventheirworking-classposition.Teyare
sobusytrng to mae ends meet, get enough foodonthetablefortheir
kidsanddootherdomestic chores thattheydothavetime foranything
else outside work. Smith took the argument to an extreme, drawing the
unfortunateconcusionthatthereforeitwasboththe]ob andthedutyofa
smalelitetodoalthethinkingandorganizing,butthereissomethingto
Marx'sdescriptionthatwedenyatourpoliticalperil.
Jh0 I00I_dB2d!0B 0 !h0 uVS0B 0 dD0I, D0!h W!hB !h6 8D0I
process and in societyatlarge,is thehallmarkofwhatMarx dubs the
"manufacturing period" in capitaliss history. But this manufacturing
system has limits. "Manufacture was unable either to seize upon the
productionofsocietytoitsfullextent,ortorevolutionizethatproduction
toitsverycore.H toweredup" andMarxisreallyadiringofit
asanarticiaIeconomicconstruction,onthebroadfoundationofthetown
handicras andthe domesticindustries ofthe countryside.At acertain
stageofitsdevelopment,thenarrowtechnicaIbasisonwhichmanufacture
restedcameintocontradictionwithrequirementsofproductionwhichit
haditselfcreated.(,o)
1 t comrtNioN fo mtrx
:
s CAP7AI
Tepressurewasontogobeyondthesebarriers.His,ofcourse,"machines
that abolish the role ofthe handicrahsman as the regulatingprinciple
ofsocialproductio (,:).Tistakesusintothenextchapter,inwhich
machines and the organizational form ofthe modern factorymoveto
centerstage.
CHAPTER S EVEN
YH8! JCCHnOO_y CVC88
CHAPTER 1j. MACHINERY AND LARGE-SCALE INDUSTRY
Intheintroduction,InotedthatMarxrarelycommentsonhismethodology.
Ithasthereforetobereconstructedbywayofcarelperusalofoccasional
side comments, supplemented by a study of his practices. Chapter 1j,
"MachineryandIarge-ScaleIndustr'providesanopportunitytograpple
withthisquestionatthesametimeasitadvancesthegeneralargumentsas
tothearacterofacapitalistmodeofproduction.Thechapterislong,but
thesectionsarelogicallyordered.Rrepaystogooverthislogicalordering
bothbeforeandaherstudngthischapter.
An Imor/un/ Ioo/no/c
I begin, however, with the chapter's fourth footnote, where Marx, in
the cryptic fashion he ohen deploys in describing methodological
considerations,linkstogetheraslewofconceptsin aconngurationthat
actually provides a general framework for dialectical and historical
materialism. Te footnote unfolds in three phases. Te nrstfocuses on
Marx'srelationwithDarwin.MarxhadreadOn /hc Origin o[Sccic: and
wasimpressedwiththehistoricalmethodofevolutionaryreconstruction
thatDarwinhadoutlined.NarxcIcarIycnvsagcdhsworkassomcsortot
contnuatonotOarwns,wththccmphass onhumanaswcIIas(rathcr
thanopposedto)naturalhistory.Hisaim,hestatedintheprefacetothe
nrstedition,istoview"thedevelopmentofthe economicformation of
society"from"thestandpoint"of"naturalhistor'Fromthisstandpoint,
theindividualcannotbeheld"responsible for relations whose creature
he remains, socially speaking, however much hemaysub]ectively raise
himselfabovethem"(pz).
Inthefootnote,Marxnrstfocuseson"acriticalhistoryoftechnology''
Tis
wouId show how IttIc any otthc nvcntons otthe cghtccnth ccntury
arc thc work ot a sngIc ndviduaI.As yct such a book docs not cxst.
1QO t comrtNioN fo mtkx: s CAP7AI
Darwin has directed attention tothe historyofnaturaI technoIogy, i.e.
theformation ofthe organs ofpIants and animaIs,which serve as the
instrumentsofproductionfor sustainingtheirIife.Does notthehistory
oftheproductiveorgansofmaninsociety,oforgansthatarethemateriaI
basisofeveryparticuIarorganizationofsociety,deserveequaIattention
AndwouId not such ahistorybe easier to compiIe, since, asico says,
human history diners from naturaI history in that we have made the
former,butnottheIatter((p])
ico'sargumentwasthatnaturaIhistorywasCod'sdomainandthatsince
Codmoved in mysteriousways,it was beyond human understanding,
butwe couIdcertainIyunderstandourownhistorysincewehad made
it.MarxearIierbroachedthehistoricaIapproachtotechnoIogicaIchange
andnotedsomevitaItransitions associated withtransformations in the
mcdecfrcduicn.avingfcIIcweden]aminFraninindeninman
"asatooImakinganimaI"inchapter;,hewentontoobservethatthe
reIics ofbygone instruments ofIabourpossessthesame importancefor
the investigationofextincteconomicformationsasdofossiIbonesforthe
determinationofextinctspeciesofanimaIs.Hisnotwhatismadebuthow,
anbywhatinstrumentsofIabour,that distinguishes dinerent economic
epochs.InstrumentsofIabournotonIysuppIyastandardofthedegreeof
deveIopmentwhichhumanIabourhasattained,buttheyaIsoindicatethe
sociaIreIationswithinwhichmenwork.
Ten,inafootnote"thewritersofhistoryhavesofarpaidveryteattention
tothedeveIopmentofmateriaIproduction,whichisthebasisof8 sociIife,
andthereforeof8 reaIhistory (z6).Inchapter1qhearuedthat
the Roman Empirehandeddownthe eIementaryform ofaIImachinery
inthe shapeofthewaterwheeI.Tehandicrahperiodbequeathedtous
the great inventions ofthe compass, gunpowder, type-printing and the
automatic cIock ut on the whoIe, machinery pIayed that subordinate
part which Adam Smith assigns to it in comparison with division of
Iabour.((68)
TisideathattherehasbeenahumanevoIutionaryprocessinwhichwe
candiscernradicaIshinsnotonIyintechnoIogiesbutinwhoIemodesof
sociaIIifeiscIearIyveryimportanttoMarx.
wntf frcnNotoc\ krvrtts 1Q1
Marx did not read Darwin uncriticall " is remarkable' he rote
to ngels,"howDarwin recognizes amongbeasts and plants his nglish
societywithitsdivisionoflabour,competition,openingupofnewmarkets,
'inventions' and the Malthusian struggle for existence'' Te problem, as
Marxseesit,isDarins ahistoricalapproachtoapurelynaturalevolution
ithoutreferencetotheroleofhumanaction inchangingthefaceofthe
earth.TereferencetoMalthusisalsotelingbecauseinhisintroductionto
On /hc Origin o[Sccic:, DarwinattributedsomeofhiskeyideastoMalthus.
AndsinceMarxcouldtabideMalthus,itmusthavebeenhardforMarxto
swalowthethoughtthatMalthushadsoinspiredDarwin.Interestinglthe
RussianevolutionistswhowerenoteosedtoruthlessBritishindustrialism
(Darwin was married to a daughter of Josiah Wedgwood, the famous
potery industrialist, and so was familiar at nrst handwith competition
dthedisionoflaborandofnction) putmuch greateremphasison
cooperationand mutual aid,ideaswhichweretranslated by the Russian
geographerKropotkinintothendamentalsofsocialanarchism.
Butwhat Marxappreciatedwas Darwis approach toevolution as a
process open to historical reconstruction and theoretical investigation.
Marx is committed to understanding the human evolutionaryprocess
inlikefashion.TisiswhereMarx'semphasisonprocessesratherthan
things comes in. The chapter on machinery and large-scale industry
shouldbereadasan essayonthehistoryoftechnologyinthisspirit.It
isabouthowtheindustrialformofcapitalismemergedoutoftheworld
ofhandicrah andmanufacturing.Upuntilthispoint,nobodyhadrelly
thoughtofwritingsuchahistory,sothischapterconstitutesapioneering
edortthatlaterspawnedawhole6eldofacademicstudycalledthehistory
ofscienceandtecnologyeadintisway,tecaptersargumentmakes
a lotmore sense. ButlikeDarwistheory, there is far more here than
]ust history. Tere is a theoretical engagementwith processes ofsocial
transformation,andassuch,thereisagooddealtodebateanddiscuss.
Te second part ofthe footnote proders a short, but in my view
extremelyimportant,statementthatrequireselaboration.
echnologyrevealstheactiverelationofmantonature,thedirectprocess
oftheproductionofhislife,andtherebyitalsolaysbaretheprocessofthe
I. MarxtongcIs,Junc I8, I862, nScIcc|cd Corrcsondcncc, cd.S
Ryazanskaya,trans.!.Laskcr(Moscow.Progrcss,I965), I28.
Ipz t comrtNioN fo mtrx:s CAP7AI
productionofthesociaIreIationsof hisIife,andof thementaIconceptions
thatowfromthosereIations.()
Marxherelinksinonesentencesixidenti6ableconceptuaelements.Tere
is,6rstofall,technology.Tereistherelationtonature.Thereistheactual
process ofproductionandthen,in rather shadowyform,theproduction
and reproduction of daily life. Thee are social relations and mental
conceptions. Tese elements are plainlynot staticbut in motion,linked
through"processesofproductio thatguide humanevolution.Theonly
elementhedoesntexplicitlydescribein productionterms is therelation
to nature. Obviously, therelationtonaturehas been evolving overtime.
Theideathatnatureisalsosomethingcontinuouslyinthecourseofbeing
producedinpartthroughhumanactionhasalsobeenlong-standing,inits
Marxistversion(outIinedincapter;),itisbestrepresentedinmycolleague
eil mits book tneven Deve|oment,` where capitalist processes of
productionofnatureandofspaceareexplicitlytheorized.
How, then, are we to construe the relationships between these six
conceptual elements Thoughhislanguageissuggestive,Marxleavesthe
question open,which is unfortunate since it leaves lots ofspace for all
mannerofinterpretations.Marxisohendepicted,bybothfriendsandfoes
alike,asatechnologicaldeterminist,whothinkschangesintheproductive
forces dictate the course ofhuman history, including the evolution of
social relations, mental conceptions,the relationtonature andthelike.
The neoliberal ]ournalist Thomas Friedman, for example, in his book
1c Wor/d I: I/u/,` happilyadmitstothechargeofbeingatechnological
determinist when someone pointed out to him (erroneously) that
this was Marx`s position, he expressed his admiration for Marx and
approvingly cited alengthypassage from the Commun/:/ Nunc:/o to
provehispoint.nareviewofFriedmasbook,theconservativepolitical
philosopher John Gray connrmed Marx`s technological determinism
and argued that Friedman was indeed merely following in Marx`s
footsteps.TeseobservationsbythosegenerallyunsympathetictoMarx
2. NciI Smith, Lncvcn Ocvc/omcn/: Nu/urc, Cu/u/, und /hc Produc/on o[
Succ, 3rd cdn. (Athcns, GA. \nivcrsity ot Gcorgia Prcss, 2OO8 I984j).
3. 1homas ricdman, 1hc Wor/d I: I/u/: A brc[ H:/or] o[/hc 1wcn/]-[r:/
Ccn/ur] (Ncw 1ork. arrar, Straus and Giroux, 2OO5), 2OI -4.
4. )ohn Gray, "1hc WorId s Round,` 1hc Ncw York Kcvcw o[book: 52, No. !3
(August I I, 2OO5).
wutf frcuNotoc\ rrvrtts 1Qj
areparalleledwithin theMarxisttradition.Tesrongestversionofthe
thesisthattheproductive forcesaretheleadingagentinhistorycomes
from G.A. CoheninhisbookKur/ Aurxs 1cor] o[Hi:/or]. A Dc[cncc.`
Cohen,havinginspectedallMarx'stextsfromthestandpointofanalytic
philosophy,defendsthisinterpretationofMarx'stheory.
I do not sharethisinterpretation.I nnditinconsistentwithMarx's
dialecticalmethod(dismissedbyanalyticphilosopherssuch asCohen
asrubbish) . Marxgenerallyeschewscausallanguage(ldefyyoutonnd
much ofit in Cui/u/). ln this footnote, he does not say technology
"causes" or"determines'but that technology"reveals"or, in another
translation,"discloses"the relationto nature.obesure,Marxpaysa
lotofattentiontothestudyoftechnologies (includingorganizational
forms), but this does notwarrant treating them as leading agents in
human evolution. What Marx is saying (and plenty of people will
disagreewithmeonthis)isthattechnologiesandorganizationalforms
in/crnu/izc acertainrelationtonatureaswellastomentalconceptions
and social relations, dailylife and labor processes. Byvirtue ofthis
internalization,the studyoftechnologies and organizationalforms is
boundto"reveal"or"disclose"agreatdealaboutalltheotherelements.
Conversely, all these other elements internalize something of what
technology is about. A detailed study of daily life under capitalism
will, for example,"reveal" a great deal about our relation to nature,
technologies, social relations, mental conceptions and the labor
processes of production. Similarly, the study of our contemporary
relationtonaturecannotgoveryfarwithoutexaminingthenatureof
oursocialrelations,ourproductionsystems,ourmentalconcetionsof
!h0 wold,!h0 !0ChnologIesdeployed andhowdailylife is conducted.
Alltheseelementsconstituteatotality,andwehavetounderstandhow
themutualinteractionsbetweenthemwork.
Inndthisahelpfulwaytothinabouttheworld.Forinstance,Iwason
a]urytoselectideasforthedesignofanewcityinSouthKorea.We,the
membersofthe]ury,hadallthedesignsinfrontofus.Te]urywasmade
upmainlyofengineersandplanners,withafewdistinguishedarchitects
andlandscape designers. Telatterdominatedthe initial discussion on
the criteriaweshoulddeploy in reaching our decisions,and it mainly
5. G. A. Cohcn, KurI Nurxs 1hcor] o[Hi:/or]. A Oc[cncc, cxpandcd cdn. (Princcton,
N]. Princcton Univcrsity Prcss, 2000 j I978] ).
tp( t comrtNioN fo mtkx: s CAP7AI
devolvedintoadiscussionoftherelativesymbolicstrengthsandpractical
implicationsofcircesandcubesinbuitforms.Inotherwords,decisions
eretobemadelargelyonthebasisofgeometricandsymboliccriteria.
Atsomepoint,Iintervenedtoaskifyouarebuidinganewcity,whatare
thethingsyouwouldwanttoknow I woudwanttoknow,what kind
ofrelationtonatureisgoingtobecreatedhee(theecologicalfootprint,
etc. ) Whatkindsoftechnologies aregoingtobeembodied inthiscity,
andwhyWhatkindsofsocialreationsareenvisagedWhatsystemsof
productionandreproductionaregoingtobeincorporatedWhatisdaily
lifegoingtobelike,andisthatthekindofdailylifewewouldwantAnd
whatmentalconceptions,symbolicandalltherestofit,aregoingtobe
engagedhereIsthisgoingtobebuiltasanationalistmonumentorasa
cosmopolitanpace
Jc othcr ]urors sccmcd to hnd ths tormuIaton both nnovatvc and
intcrcsting. Vc discusscd it tor a whiIc untiI it got a bit too compIicatcd
relativetothetimeatourdisposaOneofthearchitectsthensuggested
thatoutofthesixcriteria,onymentalconceptionsreallymattered,which
camedowntothesymboismofforms,whichbroughtusneatlybackto
thequestionoftherelativestrengthsofcircesandcubesButaherwardI
wasaskedwheretheycouldnndoutmoreaboutsuchaninterestingway
ofthinking.Imadethemistakeofsayingit'sinfootnoteqofchapterof
Marx's Cui/u/. Ishouldhaveknownbetter,becausetherearetwotypica
reactionstosayingthiskindofthing.Oneisnervousandevenfearful,for
toconcedethatMarxmighthavesaidsomethingsopowerfullyobvious
andinterestingistantamounttoadmittingMarxistsympathies,andthat
would be horribe for ones professional and even personal prospects.
Teotheristoregardmeasanidiot,solackinginideasthatIcanonly
parrotMarxand,evenworseinthisinstance,falsolowastociteamere
footnoteotheconversationstopped.Butthisis,Ithink,aninteresting
waytoevaluateurbandesignandtocritiquetheq

alitiesofurbanlife.
This framework helps ground the theory ofhistorical materialism
in a fundamentalway, andthere is strong evidence,as I hopeto show,
thatitgroundsmuch ofMarx'stangibleapproachtounderstandingthe
evolution ofcapitalism. Iet me expand on this for a moment.Imagine
aframeworkofthoughtinwhichthesesixeementshangtogetherina
singespacebutinintenseinterrelation(seengureopposite).Eachofthe
elementsisinternallydynamicsuchthatweconsidereachconstitutinga
"moment"intheprocessofhumanevolution.Wecanstudythisevolution
wutf frcuNotoc\ krvrtts 1Q

from the perspective ofone ofthe moments or examine interactions
amongthem,suchastransformationsintechnologiesandorganizational
formsinrelationshiptosocialrelationsandmentalconceptions.Howare
ourmental conceptions alteredbythe technologies availableto us Do
wenotseetheworld diderently oncewehave microscopes,telescopes
andsatellites,-raysandCATscansWeunderstandandthinkaboutthe
worldin avery,verydderentwaynow,because ofthetechnologieswe
have.Butbythe sametoken,somebodysomewheremusthave hadthe
mentalconceptionthatmakingatelescopewasaninterestingthingtodo
(recallMarx'stakeonthelaborprocessandtheworstofarchitects) . And
whenthat person hadthatidea,hehadtobeable to nndlensgrinders
and glassmakers and all the elements necessaryin order to make the
ideaarealitythroughtheproductionofthetelescope.Technologiesand
organizational forms do not descend from the sky. Teyget produced
outofmentalconceptions.Teyalsoariseoutofoursocialrelationsand
concretelyariseinresponsetothepracticalneedsofdailylifeoroflabor
processes.
MLD L DM

bLLIPI
MLDb

D LLDLLDb
L LM1
Lb L
IlikethewayMarxsetsthisup,provideditisvieweddialectically,not
causally.TiswayofthinkingpermeatesCui/u/, andthebookshouldbe
readwiththisframeworkinmind.Halsoprovidesastandardofcritique,
becausewe cananalyzeMarx'sown performance byhowwellhe links
thesediderentelementstogether.HowexactlydoesMarxbringtogether
mentalconceptions,social relationsandtechnologies,anddoes hedoit
1Q t comrtNioN fo mtkx:s CAPI7AI
adequatelyArethereaspects,suchasthepoliticsofdailylife,thatareleh
inthe shadows Inotherwords,the dialecticbetween this formulation
andMarx'spractices needstobescrutinized.
Soletmesummarize.Tesixelementsconstitutedistinctivemoments
intheoverallprocessofhumanevolutionunderstoodasatotality.Noone
momentprevailsovertheothers,evenasthereexistswithineachmoment
the possibility for autonomous development (nature independently
mutates and evolves, as do ideas, social relations, forms of daily life,
etc. ). All these elements coevolve and are sub]ectto perpetual renewal
and transformation as dynamic moments within the totality. But it is
notaHegeliantotalityinwhicheachmomenttightlyinternalizesallthe
others.H ismorelikeanecologicaltotality,whatIefebvrereferstoasan
"ensemble"orDeleuzeasan"assemblage,'ofmomentscoevolvinginan
open,dialecticalmanner.neven developmentbetweenandamongthe
elementsroducescontingencyinhumanevolution inmuchthesame
waythat unpredictable mutations produce contingency in Darwinian
theory).
Thedangerforsocialtheoryistoseeoneoftheelementsasdeterminant
of all the others. Technological determinism is as wrongheaded as
environmentaldeterminism(naturedictates),class-struggledeterminism,
idealism (mental conceptions are in the vanguard), labor-process
determinismordeterminismarisingoutof(cultural) shihsineveryday
life (thisisthepoliticalpositiontakenbyPaulHawkeninhis inuential
text /c::cd Lnrc:/). Ma]or transformations, such as the movement
fromfeudalism (orsomeotherprecapitalistconnguration)tocapitalism,
occurthroughadialecticoftransformationsacrossalthemoments.Tis
coevolutiondevelopedunevenlyinspaceandtimetoproduceallmanner
of local contingencies, albeit contingencies limited by the interplay
withintheassemblageofelementsimplicatedintheevolutionaryprocess
and the growing spatial (and sometimes competitive) integration of
economic-development processes in the world market. Perhaps one
ofthebiggestfailures ofthe conscious attempt tobuildsocialism and
communismonthebasisofcapitalismwasthefailuretorcognizethe
needto engage politically across al these moments in awaythat was
sensitive to geographicalspecincities.Thetemptationfor revolutionary
6. Pau Hawkcn, b/c::cd Lnrc:/. How /hc Lurgc:/ Novcmcn/ n /hc Wor/d Cumc
n/o bcng und Wh] No Onc Suw I/ Comng (Ncw York. Vikin, 2007).
wnt+ +rcnNotoc\ krvrtts 1Q
communism was to reduce the dialectic to a simple causal model in
whichoneoranothermomentwasplacedinthevanguardofchange,and
thatwassupposedtobethat.Tisapproachinevitablyfailed.
Onthesurface,thethirdphaseofthefootnoteappearstocontradict
myinterpretationofthesecond
Evenahistoryofreligionthatiswritteninabstractionfromthismaterial
basis is uncritical. H is,inrealit,much easier to discoverbyanalysisthe
earthlykernelofthe mist creations ofreligionthanto dotheopposite,
i.e. to developfmthe actual,givenrelationsoflifethe formsinwhich
these have been apotheosized.Te latter method is theonlymaterialist,
andthereforetheonlyscientincone.((p]-()
Marx considered himselfa scientist, and he is here assertingthat this
means a commitment to materialism. But his materialism is diderent
fromthatofthenaturalscientists.Rishistorical.heweaknesses ofthe
abstract materialism ofnatural science, a materialism which excludes
the historical process, are immediately evident from the abstract and
ideological conceptions expressed by its spokesmen whenever they
venture beyond the bounds of their own speciality" (p() . Darwin's
nndingsonevolutionwere awed becausehe ignoredthe impactofthe
historicalcontextonhistheorizing(thepowerofthemetaphorsthathe
drewfromBritishcapitalism)andfailedtocarry overhisargumentonto
andintegratehisnndingswithhumanevolution.Marxwaswritingbefore
SocialDarwinismbecamepopular,ofcourse,butheprengures acritical
responsetothewayinwhichtheSocialDarwinistslegitimizedcapitalism
asnauraI"bajjcaIingtoawistheorofevolutionneDw
theorydrewits guidngmetaphorsfrom capitalismandwas inspiredby
the socialtheory of Malthus,it was hardlysurprising to seecapitalism
connrmed as wholly consistent with supposedly natural processes of
competition, strugeforsurvivaland, ofcourse,survivalofthe nttest
(withoutpayingattentiontoKropotkismutualaid).
Marx's general point is that natural scientists, because they failed
to understand their historical moment and were barred by their
methodological commitments from integrating human history into
theirmodelsoftheworld,frequentlyendedupwithatbestpartialandat
worst seriousmisinterpretations ofthatwold.Atworst,they concealed
their historical and political assumptions under a supposedly neutral
1Q t comrtNioN fo mtkx's CAPI7AI
andobJective science.Tiscritical perspective,which Marxpioneered,
is now standard practice within the neld of science studies, where it
has repeatedly been shown that the importation into science ofsocial
metaphorsaboutgender,sexualityorsocialhierarchiesleadstoallkinds
ofmisreadings ofwhatthenaturalworldisactuallyabout,even asit is
understoodthatwithoutmetaphorsscientincinquirywouldgonowhere.
Butthereisamuch deeperissueherethatneeds tobeaddressed.In
the nrstlecture,I talkedaboutMarx's wayofmoving by descentyou
start with the surface appearance, then dive deep down beneath the
fetishismstouncoveratheoreticalconceptualapparatusthatcancapture
theunderlyingmotion ofsocial processes.Tattheoreticalapparatusis
thenbroughtstepbystepbacktothesurfaceto interpretthedynamics
ofdaily life in new ways. Tis is, Marx connrms in the footnote,"the
only materialist and therefore the only scientinc (method)We have
already seen a specic example ofthis method at work in the chapter
ontheworkingday.Valueassociallynecessarylabor-timeinternalizesa
specinc capitalisttemporality, andavastneldofsocial strugglesonthe
surface ofsociety ensues, concerning the appropriation ofthe time of
others.Thefactthat"momentsaretheelementsofpront"leadscapitalists
tobeobsessedwithtimedisciplineandtimecontrol(andwillshortlyso
explainwhytheyareobsessedwithspeed-up).
Buthowarewetothinkabouttherelationbetween,say,thedeep-value
theoryandtheunpredictablefermentofsurfacestrugglesoverthelength
oftheworking day Back on page ;, Marx approvingly cites (in yet
anotherfootnote ) afamouspassagefromanearlierwork,A Con/ri0u/ion
/o /hc Cri/iquc o[Io/i/icu/ Lconom].
yview isthateachparticular mode ofproduction, andthe relations
ofproduction corresponding to it at each given moment, in short'the
economic structure of society is'the real foundation,onwhich arises a
legalandpoliticalsuperstructureandtowhichcorresponddenniteforms
of social consciousness mental conceptions, ifyou like ,and thatthe
mode of production of material life conditions the general process of
social,political,andintellectuallife.
Heleaves out the following sentencefrom the Cri/iquc, which explains
that it is in the superstructure that we become conscious ofpolitical
issuesandnghtthemout.
WHAT TECH~OLOGY REvEALS 1
Tisiswhatis usuallyreferredto asthe base-superstructure model.
Tesuppositionisthatthereisan econom

cbaseonhichtherearise
frameworksofthoughtaswellasapoliticalndlegalsuperstructurethat
collectivelydennehowweecomeconsciousofproblemsandnghtthem
out.Tisformulationissometimesreaddterministcallytheeconomic
base dc/crminc: the political and legal ifrastructur, determines the
formsofstrugglethat arefoundthereand,to the degreethatthereare
transformations occurring in the economic base, actually determines
theoutcomesofpoliticalstruggles.ButIcantseehowtheargumentcan
beviewed as deterministic oreven causal.Tis is nothowthe chapter
ontheworkingdayunfoldsata.Tereareclassalliances,con]unctural
possibilities, discursive shihs in sentimets, and the outcome is never
certain.Butthereisalways such adep concernovertheappropriation
ofthetimeofothersthattheissuenevergoesaway.Itisaperpetualpoint
ofcontestation"between equal rights"within capitalism thatcannever
arrive at some ultimate solution. Struggles over time are fundamental
to the capitalist mode ofproduction.Tis iswhatthedeeptheorytells
us,and no matterwhathappens in the superstructure,that imperative
cannotbeovercomewithoutoverthrowingcapitalism.
Inanycase,productiveforcesandsocialrelationscannotexistwithout
expressionandrepresentationinthepoliticalandlegalsuperstructure.We
haveseenthiswithmoney,whichisarepresentationofvaluesurrounded
bya mannerofinstitutional andlegal arrangements,andcertainlyan
ob]ectofstruggleandpoliticalmanipulation(asisalsothecasewithlegal
frameworks ofprivatepropertyrights). But Marx has also shown that
without money (or a cga tramcwork otprivatc propcrty rights),vaIuc
couldnotexstas a toundatona cconomc rcaton.ngs gctworkcd
out in the monetary sphere inveryparticularways depending on the
dynamics ofclass struggle,andthis hasimplicationsforhowthevalue
theoryworks. Is money in the political superstructure or down in the
economicbaseTheanswer,surely,hastobeboth.
Similarly,onewouldntsay,romthechapterontheworkingday,that
theoutcomeoftheworking-daystrugglewasdeterminedbymovements
intheeconomicbase.Furthermore,thepoliticalrestrictiononthelength
oftheworkingdayinpartledcapitaliststolookforanotherwaytogain
surplus-value, i.e.,relative surplus-value. Marx clearly does not intend
thisbase-superstructuremodelto operatemechanicallyorcausally,but
hedoesuseitdialectically.
2OO t comrtNioN fo mtkx:s CAPI7AI
et itis also true that the"working out" that goes onin te realm
ofstruggle over the length ofthe working day is aworking out ofthe
fundamentalfactthatmomentsaretheelementsofpront,whichderives
fromthedennitionofvalueas socially necessary labor-time.Therewas
notaconcertedstruggleoverthelengthoftheworkingdayinprecapitalist
societies oreven inancient Rome. Onlywithinthe rules ofa capitalist
modeofproductiondoesthissortofstrugglemake sense.Formalissues
suchasthelengthoftheworkingday(week,year,lifetime)getthrownup
preciselybecause of the deep structure ofwhat capitalismhasbecome.
Howthesestrugglesgetresolveddependsonyouandmeandeverybody
else.ndindeed,thestrugglecouldpotentiallyberesolvedinsuchaway
asto entailtheabolitionofthecapitalistmodeofproduction.society
wouldbeconstructedinwhichmomentsare no/ theelementsofpront.
anyouimainewhatthatwouldlooklikeSoundsrathernice,no
ymainpointhereisthatthewaysinwhichthesethingsgetworked
outthrough political and legal means, the balance of class forces,
hegemonic mental conceptions and the likeare not inedectual in
relationto the deep concept ofthe circulationofvalueascapitaTe
real scientincmethodisto identithosedeep elementswhich explain
toyouwhcertain thingsgo oninoursocietythewaytheydo.Wesaw
thatinthestruggleoverthelengthoftheworkingday.Wealsosee itin
the struggle overrelative surplus-value,whichexplainswhycapitalism
hastobesotechnologicallydynamic.Weseemnottohavechoicesover
whetherornottogrowortoinventbecausethat'swhatthedeepstructure
ofcapitalismmandates.Theonlyinterestingquestionis,therefore,howis
growthgoingtooccur,andwithwhatkindsoftechnologicalchangeThis
forcesustoconsidertheimplicationsformentalconceptions,therelation
to natureandalltheother moments. Ifwe dotlikethese implications
thenwehave no recourse excepttoengageinstrugglewith respect not
onlytooneoranotherofthemomentsbuttoallofthemsimultaneously,
untilweultimatelycometo termswithhavingtotransformtheveryrule
ofvalueitsel
Te circulation of capital is, however, the driver of the dynamics
undercapitalism.Butwhatis socially necessary for this process to be
sustained onsider, for example,thenecessarymental conceptions. If
yougo downto Wall Streetwith abigbannersaying,"Growth Is Bad,
StopR Now,'wouldthatbeconsideredan anticapitalistsentimentou
betitwould.ouwouldbe dismissed,however,notnecessarilyforbeing
WHAT TECH~OLOGY REvEALS 2C1
anticapitalist but for being antigrowth, because growth is considered
both inevitabe and good.ero growth signals serious problems.apan
hasntgrownmuch at all in recent times,poor fok. But the growth in
Chinahasbeenspectacular,sothe Chineseare thegrand success story.
Howcan we emulate themWe allhappiysit around and say growth
isgood,technologica change isgoodandso capitalism,whichrequires
both,mustalsobegood. Tis isthe sortofcommon beliefsystem that
Gramsci ohen referredto as"hegemony'Te same sorts ofissuesarise
concerning institutional arrangements. Capitaism requires adequate
legalarrangementstofunctionedectively.Temorethe Chinesemoved
downacapitalisticpath,theless plausibleitwasforthemtomaintaina
legalsystemthatdidtacknowledgesomesortsofprivatepropertyrights.
Butthereisagreatdeaoflatitudeandcontingencyintheinstitutional
arrangementsthatmightwork.
Scc/ion: -]Auchinc Dcvc/omcn/, \u/uc 1run:[cr: und L_cc/: on
Workcr:
So, nay, et ustake up thematerias assembedin this long chapter.I
suggestyoupaycarefulattentiontothesequenceofthesectionheadings.
Tese denne a logica line ofargument that structures Marx'sinquiry
into theriseofthefactorysystemandtheuseofmachinery. Hebegins,
however, with ohn Stuart Mil's surprise at the fact that mechanica
inventions,supposedlydesigned toightentheload oflabor,had done
nothing of the kind. In fact, they had generaly made matters worse.
Marxhimsefisinnowaysurprised,sincemachinesareusedtoproduce
surplus-value,nottolightentheloadoflaborButthismeans,notice,that
"themachineisameansorproducngsurplusvalue(pz) .Tissounds
odd, since Marx has argued that machines are dead labor (constant
capital)andcannotproducevalue.Yet theycan,however,beasourceof
surplus-value.Tereductioninthevaueoflabor-powerthroughrising
productivityinthewage-goodssectoryieldsrelativesurplus-valuetothe
capitalist class,whilethecapitalistwiththe best machinerywil acquire
thetemporaryformofrelativesurplus-valuethataccruestotheproducer
withhigherproductivity. Nowondercapitalistsholdtothefetishbelief
thatmachinesproducevalue
Marxthen considers the diderencebetween tools and machines.To
"call a tool a simpe machine and a machine a complex too" and"see
noessential diderencebetweenthe misses somethingessential,most
2O2 t comrtNioN fo mtkx:s CAPI7AI
notably"thehistoricalelement"(thatelementthathe,incidentally,makes
somuch noise aboutinthefootnote) (,z).Marxwasoneofthenrst
peopleevertousethephrase"industrialrevolution"andtomakeitcentral
to his historical reconstruction. So what constitutes the heart ofthis
industrialrevolutionWasitsimplyachangeoftechnology,thefactthat
tools become machines Is the diderence between machines andtools
thatmachineshaveanexternalsourceofpowrDoesitentailaradical
shih in social relations to parallel the transformations in productive
forcesTeansweris all ofthe above.
Te machine,which is the starting-point of the industrial revolution,
replacestheworker,whoan

lesasingletool,byamechanismoperating
withanumberofsimilartosandsetinmotionbyasinglemotivepower,
whatevertheformofthatpower.erewehavethemachine,butinitsrst
roeasasmpleelementnproctonmachner((;)
Tis is predicated, however, on a transformation in the positionality
(socialrelation) oftheworker.Thisis]ust as importantasthe machine
itself.Whileworkerscancontinuetoprovidethemotivepower,atsome
pointorothertheneedarosetosupplementthatpowerfromanexternal
source.Waterpowerhadlong

eepressedintoervice,butitsapplication
waslimitedandrestrictedbyloction.
ottilltheinventionofatt'secondandsocalleddouble-actingsteam
enginewasaprimemoverfoundwhichdrewitsownmotivepowerfrom
the consumptionofcoalandwater,was entirelyundermas control,was
mobileandameansoflocomotion,wasurbanandnot~likethewater
wheel~rural,permittedproduction tobeconcentratedintowns instead
of~like the water-wheels~being scattered ver the countryside and,
6nally, was of universal technical application, and little aected in its
choiceofresidencebylocalcircumstances.(,,)
Testeamengineliberatedcapitalfromdependenceonlocaliedsources
ofpower, because coal was a commodity that could, in principle, be
shippedanywhere.Butbecarefulnottoreadtoomuchintothisinvention,
because"the steam-engine itself. . . did ot give rise to anindustrial
revolution.Uwas,onthecontrary,theinventionofmachinesthatmadea
revolutionintheformofsteam-enginesnecessary"(,6;).
And while Marx doestmention it,coalalso elimina

edthe acute
wntf frcnNotoc\ krvrtts zo
rivalry, which had limited industrial development betore this time,
betweentheuseotlandtortoodproductionandtheuseotland'sbiomass
as anenergysource.Allthetimewoodandcharcoalwereprimarytuel
sources,the competition torlandbetween tood and biotuels raisedthe
costotboth.Withcoalitbecamepossibletominethestoredenergyotthe
Carboniterousperiod,then,withoil,thatottheCretaceousperiod.Tis
liberatedthelandtortoodandothertormsotrawmaterialproduction
andliberatedindustrytoproliterate usingcheaptuels,withallkindsot
implicationsbothtorurbanizationand,otcourse,torthewayweliveour
livesrightnow.Interestingly,aresponsetotuelscarcitiesinrecenttimes
hasbeentogobacktothelandtortuel(ethanol,inparticular),andthis
hashadthepredictableconseuenceotrapidlyincreasingtoodandother
raw-materialprices(withallmannerotsocialconseuences,suchastood
riotsandincreasinghunger,evenmybagelhasgoneupinpricebythirty
cents).Wearecurrentlyre-creatingthebarriers tocapitalaccumulation
thattheshihtotossiltuelsinthelateeighteenthcenturysosuccesstully
circumventedbyrevolutionizingthe relationtonature.
Butthehallmarkottheindustrialrevolutionwasmorethanustashih
in energyproduction. The"cooperationbydivisionotlabourwhichis
peculiarto manutacture" now appears"as a combination otmachines
withspecinctu

ctions''Tereisasignincantevolutioninsocialrelations.
ln manufacture, it istheworkerswho,either singly or in groups,must
carry on each particular process with their manual implements. Te
worker has been appropriated by the process, but e process had
previouslyto be adapted to the worker. Tis subJective principle ofthe
ivsionoflabournolongerexistsin proctionbymacinery. eret
totalprocessisexaminedobJectively,viewedinandforitself,andanalysed
intoitsconstitutivephases.Teproblemofhowtoexecuteeachparticular
process,andtobindthedierentpartialprocessestogetherintoawhole,
issolvedbytheaidofmachines,chemistry,etc.
Teresultistheevolutionot"anarticulatedsystemcomposedotvarious
kinds ot single machine, and ot groups ot single machines` and tis
"becomesallthemorepertectthemoretheprocessasawholebecomesa
continuousone"(o:z).
Tere are a number ot points to make about this statement. First
is the importance ot continuity in the production process, which is
2Oq t comrtNioN fo mtkx:s CAP7AI
cruciaI because the continuity of the circuIation of capitaI reguires it,
and machinery heIps achieve this. Second,note that sociaI reIations are
being transformed aIongside the technicaI reIations. ird, the anaIysis
ofthe production process into its constitutive phases entaiIs a mentaI
transformation which brings a science (such as chemistry) to bear on
technoIogy.Inotherwords,thereisanevoIutioninmentaIconceptions.At
IeastthreeoftheeIementsexaminedinthefootnotecomeintopIayhere,
whiIethe reIation tonatureand to IocationaIreguirements aIso shins as
coaIresourcesrepIacewaterfaIIsandbiomassasprimarysourcesofenergy.
We seeinparagraphsofthis sorthowMarx'sformuIationinthe footnote
is working. The dierent eIements ow easiIy together to constitute a
compeIIingnarrative ofcoevoIutionratherthancausation. The outcome
isan"organizedsystemofmachinestowhichmotioniscommunicatedby
thetransmittingmechanismfrom anautomaticcentre'andthis,hesays,
isthemostdevelopedformofproductionby machinererewehave,in
pIaceoftheisoIatedmachine,amechanicaImonster"-MarxIovesimages
ofthissort,aswehavereadyseen"whosebodyhIIswhoIefactories,and
whosedemonicpower,athrsthiddenbythesIowandmeasuredmotions
ofitsgiganticmembers,hnaIIyburstsforth inthe fastandfeverishwhirI
ofitscountIessworkingorgans''ut,Marx reminds us,"the inventions of
aucanson,Arkwright,Watt and others couId be put into practice onIy
becauseeachinventorfoundaconsiderabIenumberofskiIIedmechanicaI
workersavaiIabIe,pIacedattheirdisposaIbythe period ofmanufacture''
Thatis,thenewtechnoIogiescodnothavecomeonIineifthenecessary
sociaIreIationsandIaborskishadnotaIreadybeeninpIace.Insomecases,
theseworkers"wereindependenthandicransmenofvarioustrades'whiIe
otherswereaIready"groupedtogether"(o).
utthe evoIutionaryprocesshadits ownmomentum."Asinventions
increasedinnumber,andthedemandforthenewIydiscoveredmachines
grew Iarger, the machine-making industry increasingIy spIit up into
numerousindependentbranches,andthedivisionofIabourwithinthese
manufactures deveIopedaccordingIy''SociaIreIationswere infuII ood
oftransformation."Here,thereforeinmanufacture,weseetheimmediate
technicaIfoundationofIarge-scaIeindustry.Manufactureproducedthe
machinerywithwhichIarge-scaIeindustryaboIishedthehandicranand
manufacturing systems inthe spheresofproduction it hrstseizedhoId
o`Anerthesystemhad"undergonefurtherdeveIopmentinitsoIdform,'
it hnaIIy created"for itseIfa newbasis appropriate to its own mode of
wutf frcuNotoc\ krvrtts 2Oj
production" (o-). Capitalism, in short, discovered a technological
basismoreconsistentwithitsrulesofcirculation.
This is, in my view, an evolutionary, not a determinist, argument.
The contradictions of capitalism as they arose in the manufacturing
and handicrah period could not be resolved given the nature of the
technologieswhichexisted.Therefore,therewasconsiderablepressureto
comeupwithanewtechnologicalmix.Marxistellingthestoryofhow
capitalismcameto"create for itselfa newbasis appropriate to its own
modeofproduction''Butthiswholeprocesswas
dependentonthegrowth ofaclassofworkerswho,owingtothesemi
artistic nature oftheiremployment, could increase their numbers only
gradually,andnotbyleapsandbounds.But,besidesthis,atacertainstage
ofits development large-scale industry also came into conictwith the
technicalbasisprovidedforitbyhandicransandmanufacture.(,o()
The expansionary force of capital encountered limits. The capitalist
systemhadarrivedatthepointwhereitneededskilledworkerstomake
themachinesthatwouldfacilitateitsdevelopmentatthesametimeasits
owntechnologicalbasisactedasadragonthecapacityofbuiltmachines.
Buttheevolutionaryprocesswashardtostop."hetransformationof
themodeofproductioninonesphereofindustrynecessitatesasimilar
transformationinotherspheres'Notehere,bytheway,Marx'suseofthe
term"mode ofproduction''He sometimes uses thisterm,ashe does in
theopeningparagraphofCui/u/, tocontrast,say,thecapitalistandfeudal
modes ofproduction.Buthereitmeans somethingmuchmorespecinc
he mode oroducion in aaricularindustry ese two meanins
interrelatethemodeofproductioninaparticularindustrycreatesnew
machineformswhichactuallyareconsistentwiththecapitalistmodeof
productionunderstoodinthebroadersense.Here,however,wearetalking
about specinc transformations in modes of production in particular
spheresofindustryandthedynamicinteractionsbetweenthem.
Tishappensatnrstinbranchesofindustrywhichareconnectedtogether
by being separate phases of a process, and yet isolated by the social
division oflabour . . . us machinespinningmademachineweaving
necessary,andboth togethermadeamechanicalandchemicalrevolution
compulsoryinbleaching,printinganddyeing.
2O t comrtNioN fo mtkx's CAPI7AI
Spill-over edects between diderent segments of a production process
create mutually reinforcing changes. Furthermore, "the revolution in
the modes ofproduction ofindustryandagriculturemade necessary a
revolutioninthegeneralconditionsofthesocialprocessofproduction,i.e.
inthemeansofcommunicationandtransport"(o-6). Tisintroduces
one ofthe otherthemesthatI nndextremelyinterestinginMarxthat
istheimportanceofwhathecallsintheGrundri::c the"annihilationof
spacebytime'' Te evolutionarydynamic ofcapitalism is not neutral
intermsofitsgeographicalform.We've alreadyseenhintsofthisinhis
discussion ofurbanization, the concentrationthat could arise through
thesteamengine,andthelocationalfreedomsconferredbysteampower.
Connectiviintheworldmarketalsochanged.
Hence,quite apartromtheimmensetransormation which tookplace
n shpuilding,the means ocommuncaton andtransportgraduall
adapted themselves to the mode ofproduction of large-scale industry
by means of a system ofriver steamers,railways, ocean steamers and
telegraphs.Butthehugemassesofirontathadnowtobeforged,welded,
cut, bored and shaped required for their part machines of yclopean
dimensions, which the machine-building trades of the period of
manufacturewereincapableofconstructing.
Andherecomesthennallinkintheargument
arge-scaleindustrythereforehadtotakeoverthemachineitself,itsown
characteristic instrument of production, and to produce machines by
means ofmachines.H was not tillit did thisthatitcouldcreateforitself
anadequatetechnicalfoundation,andstandonitsownfeet.(6)
Tecapacitoproducemachineswiththeaidofmachinesis,inshort,
/hc technicalfoundation ofa fullyedged,dynamic capitalist mode of
production.Inotherwords,thegrowthofengineeringandthemachine
tool industry is the ultimate phase of a revolution that created the
"adeuate technical foundation"for the capitalist mode ofproduction
in general.s machinery, the instrument oflabour assumes amaterial
modeofexistencewhichnecessitatesthereplacementofhumanforceby
naturalforces,andthereplacementoftheruleofthumbbytheconscious
7. Marx, Grundr::c, 524.
WHAT TCHNOLOCY RVALS zo/
applicationofnaturalscience''Thisentailsarevolutionnotonlyinmental
conceptionsbutalsooftheirapplication.
In manufacture theorganization ofthesociallabour process is purely
subective.itisacombinationofspecializedworkersarge-scaleindustry,
onthe otherhand,possessesinthe machinesysteman entirelyobective
organizationofproduction,whichconfrontstheworkerasapre-existing
materialconditionofproduction.(o8)
Thenatureofcooperationisfundamentallychanged,forexample.
I have gone over this section atlength, in order to showhowthe
synergistic spread of revolutions in technology both rests on and
provokes transformations in social relations, mental conceptions and
modesofproduction(intheconcreteandparticularsense),aswellasin
spatial and natural relations. Te rise ofthis newtechnological system
whichissuitedtoacapitalistmodeofproduction(inthegrandsense)is
anevolutionarystoryinwhichalltheelementsinthefootnotecoevolve.
In the chapter's second section, Marx asks the following question.
how isvalue transferred from the machine to the product The other
two modes of acquiring relative surplusvaluethrough cooperation
anddivisionoflaborcostcapitalnothing,apartfrom someincidental
expenses. But a machine is a commoditythathas to be bought in the
market.Thisisverydiderentfrom,say,merelyreconnguringthedivision
oflaborinaworkplace.Machineshaveavalue,andthatvaluehastobe
paidfor.Somehowthevaluecongealedinthemachinemustbetransferred
intotheproductit servestobeget,'eventhoughnophysicaltransferof
mattcr is invoIvcd (o) . !nitiaIIy, arx appcaIs to thc idca ot strai

ht-Iinc
depreciation.Ifthemachinelaststenyears,one-tenthofthevalueofthe
machineendsupintheproducteachyearoverthattime.Butthenhegoes
ontoderiveanimportantlimittothedeploymentofmachinery
The use of machinery for the exclusive purpose of cheapening the
productislimitedbytherequirementthatless labourmustbeexpended
inproducingthemachinerythanisdisplacedbytheemploymentofthat
machinery. Forthecapitalist,however,thereisafurtherlimit on itsuse.
Instead ofpying for thelabour, he pays onlyte value ofthelabour
poweremployed,thelimittohisusingamachineisthereforexedbythe
dierencebetweenthevalueofthemachineandthevalueofthelabour
powerreplacedbyit.()
2O t comrtNioN fo mtkx: s CAPI7AI
Tisassumes(asmosteconomiststendto)thatcapitalistsarerationalin
theirdecisions.Ifthemachineisexpensive andyousaveverylittlelabor
byit,thenwhybuyitTecheaperthemachineandthemoreexpensive
thelabor,thegreatertheincentivetoemploymachinery.Tecalculation
thatthecapitalisthastomake,therefore,isbetweenthevalueexpendedto
buythemachineandthevaluesavedonlabor(variablecapital)employed.
Tislimitonthedeploymentofmachineryistypicallyenforcedbythe
coercive laws ofcompetition. Capitalists who buy costly machines but
savelittlelaborbythemaregoingtobedrivenoutofbusiness.
Howmuchvariablecapitalgetssaveddepends,however,onthevalueof
labor-power."HencetheinventionnowadaysinEnglandofmachinesthat
areemployedonlyinNorthAmeric (:6). InNorthAmerica,therelative
scarcity oflabor meant high labor costs, so employing machinesmade
sense,butinBritaintheexistenceofsurpluslabormeantcheaplaborand
lessincentivetousemachines.iscalculationonthelimitinconditions
to the employment ofmachineryissignicant,both theoretically and
practically. Tere are contemporaryexamplesin Chinawhere,withthe
abundanceofcheaplabor,somethingwhichismadewithasophisticated
andexpensivemachineintheUnitedStateshasbeenbrokendowninto
smallerlaborprocesses thatcanbedonebyhand.Insteadofemploying
one veryexpensive machine with twentylaborers intheUnited States,
you employ two thousand laborers in China using hand tools. Tis
example counters the idea that capitalism inevitably marches onward
toward ever-greater mechanization and technological sophistication.
Giventheimportanceofthelimitingconditionsandthevaluerelations,
thenamannerofoscillationscanoccurinthedeploymentofmachine
technologies.
Inthethirdsection,Marxconsiders threeconsequences ofmachine
deploymentfortheworker.Machineryfacilitatedthe"Appropriation of
SupplementaryIabour-Power by Capital. The Employment ofWomen
andChildren''Machinetechnologiesedectivelydestroyedtheskillbasis
thatexistedinthehandicrahperiod.Rthenbecamemucheasiertoemploy
unskilled women and children.A number ofconsequences followed.R
became possible to substitute the familywage for theindividualwage.
Telattercouldbereduced,butthefamilywagecouldremainconstantas
womenandchildrenenteredtheworkforce.Tishasbeenaninteresting
andpersistentthemeincapitalisthistory.IntheUnitedStatessincethe
:,o,individualwageshaveeitherdeclinedorremainedfairlyconstant
wutf frcuNotoc\ krvrtts 2OQ
inrealterms,butfamilywageshavetendedtoriseasmorewomenhave
gone towork.Whatthe capitalistsclass gets istwolaborersforcloseto
thepriceofone.TeBrazilianeconomicmiracleofthe:,6oswaslikewise
dominatedbya catastrophic diminution ofindividualwages under the
military dictatorship, but family wages managed to stabilize because
notonlywomenbutkidswenttowork(childlaborin the ironmines
surged). Tis led to the famous comment by the Brazilian president
Emlio GarrastazuMdici that"the economy" (heshouldhavesaidthe
capitalist class) "is doingverywellbutthepeople are doingverybadl'
Terearemanyhistorical circumstanceswherecapitalistshavepursued
thissolutiontogainingsurplus-value.
Tisalsoraisesthequestionoftherelationshipbetweentheindividual
andthefamilywage.Thelatterisnecessaryforthereproductionofthe
workingclass.Butwhobearsthecostofthis reproduction Marxisnot
verysensitive,asmanyhave pointedout,to questionsofgender,buthe
doesinafootnoteacnowledgetheimportanceoftherelationbetween
householdworkandthebuyingandsellingoflabor-powerinthemarket.
Ifwomenenterthelaborforce,then
domestic work,such as sewing andmending,mustbe replacedbythe
purchase ofready-made articles. Hence the diminished expenditure of
labourinthehouseisaccompaniedbyanincreasedexpenditureofmoney
outside. Te cost of production of the working-class family therefore
increases,andbalances its greater income.ln addition to this, economy
and ]udgement in the consumption and preparation of the means of
subsistencebecomeimpossible.()
onsiderationofthefamilywageraisesotherissues.Hwasverycommon
in Marx's time for the male, particularly in the countries Marx was
familiarwith,tobedelivererofthewholefamilylabor.Theresultwasthe
creation ofa"gang system"for labor supply. One malengurewouldbe
heldresponsiblefordeliveringthelabor-powerofseveralkids,maybethe
labor-powerofawifeandasister,aswellasthelabor-powerofnephews
and kin. In France, the labor market was frequently constituted as a
gangsystemwherebyapatriarchalngurewould commandthelaborof
everybodyaroundhimanddeliverthatlabortohisemployers,leavingthe
questionoftheremunerationofthatlaboranddistributionofthebenents
tothepatriarchalngure.ystemsofthissortarenotatalluncommonin
21 O t comrtNioN fo mtkx:s CAP7AI
Asia andarefrequentlyfoundintheorganizationofimmigrant groups
inEuropeandNorthAmerica. Someoftheworstaspectsofthis,thenas
now,asMarxpointsoutinafootnote,arose(andarise)throughtramcking
in children and the equivalent ofslave dealing. Relying very much on
the reports ofthe factory inspectors (sudusedwithVictorian morality
thatMarxdoesnotcriticize)andngels'saccountinTc Condi/ion o[/hc
Working C/u:: in Lng/und, Marxfocusesonthe"moraldegradationwhich
arises outoftheexploitationbycapitalismofthelabourofwomenand
children,'andtheweakattemptsbythebourgeoisietocounterthismoral
degradationthrougheducation(zz).AsinthecaseoftheFactoryActs,a
contradictionemergesbetweenwhatindividualcapitalistsarecompelled
todobythecoercivelawsofcompetitionandwhatthestatetriesodoin
thewayofeducatingchildren.Marxdoesthereforeraise,albeitinanot
veryadequateway, issues concerningthereproductionoflife (againan
importantbutsomewhatneglectedeementinootnote.
Tesecondsubsectiondealswith"TeProlongationoftheWorking
Da'. Machinery in fact creates new conditions not only permitting
capitaltolengthentheworkingdaybutalsocreating"newincentives"to
doso.
Becauseitiscapital,theautomaticmechanismisendowed,intheperson
ofthecapitalist,withconsciousness andawillAscapital,therefore,itis
animatedbythedrivetoreducetoaminimumtheresistanceoderedby
man,thatobstinateyetelasticnaturalbarrier.
Te machine is in part designed to overcome worker resistance,which
isin any case"lessenedbytheapparentlyundemanding natureofwork
at a machine, and the more pliant and docile charater ofthe women
andchildrenemployedbypreference"(z6;).Tisis,ofcourse,atpical
Victorian pre]udice. In fact the women were by no means docile, any
more thanthechildrenwere.
Buttheheartoftheproblemhereisthetemporalityandcontinuityof
production.Temachinewearsoutfasterthemore itisused,andthere
arestrongincentivestouseup themachineasfastas possible.obegin
with,"thephysicaldeteriorationofthemachineisotwokinds.Teone
arisesfromuse,'andtheotherfromnonuse,i.e.,it]ustrustsaway."But
inadditiontothematerialwearandtear,amachinealsoundergoeswhat
wemightcallamoraldepreciation''Ialwaysndhistermstrange.What
wutf frcuNotoc\ rrvrtts z t t
Marxreallymeansiseconomicobsolescence.IfIboughtamachinefor
two miliondollarslastyear,andthisyearall mycompetitorscanbuy it
foronemillion (or,whatamountstothesamething,buy amachinefor
two million dollars which is twice as emcient as mine),then thevalue
ofcommoditiesproducedwill fall,and I will lose halfthevalue ofmy
machine."Howeveryoung and full oflifethe machinemaybe,its value
isnolongerdeterminedbythenecessarylabour-timeactuallyob]ectined
init,butbythelabour-timenecessarytoreproduceeitheritorthebetter
machine'`Tethreatisthatthemachinewillbe"devaluedtoagreateror
lesserextent"().Toprotectagainstthisthreat,capitalistsareimpelled
tousetheirmachineryupasfastaspossible(keepingitemployedtwenty-
fourhours a day ifpossible). This meanslengthening the woring day
(or,aswewill see,resortingto shihwork and relaysystems). Machines
supposedtogetaroundlengtheningtheworkingdayactuallystimulatea
needtofurtherlengthenit.
Capitalists fall in love with machines because they are a souce of
surplus and relative surplus-value. The fetish of a "technological m"
becomes ingrained in their belief system. Yet machines are also the
source of"an immanent contradiction" because"ofthe two factors of
the surplus-value createdbyagiven amount ofcapital,one,therateof
surplus-value,cannotbe increasedexceptbydiminishingtheother,the
numberofworkers"(:) .Andsincethemassofsurplus-value,socrucial
tothecapitalist,dependsontherateofsurplus-valueandthenumberof
workers,labor-savinginnovationsmayleavethe capitalistnobettero6.
Trowingworkers out of work throughtechnogicalinnovations from
thisstandpointdoesnotseemagoodidea,becausetherealvalueproducers
8I6 0S! II0H QI0uuC!I0B. JIS C0B!I8uIC!I0B WI D6 H8u6 HuCh 0I IB !h6
thirdvolumeofCui/u/, wherethedynamicsoftechnologicalinnovation
areseenasdestabilizingandasourceofseriouscrisistendencies
Buttheincentiveforcapitaliststokeeponinnovatingisall-powerful.
The competitive search for the ephemeral form of relative surplus
valuebecomes overwhelming in spite ofthe contradictions. Individual
capitalists, respondingtothe coercive laws ofcompetition, behave in a
waythatisnotnecessarilyintheinterestsofthecapitalistclass.Butthe
socialconsequencesforlaborcanalsobecatastrophic.
Partlybyplacing atthe capitalists disposal newstrata ofthe worng
class previously inaccessible to him, partly by setting free the workers
z t z t comrtNioN fo mtkx: s CAP7AI
itsupplants, machinery produces a surplus working population,which
iscompelledto submitto the dictates ofcapital Hencethat remarkable
phenomenon inthe historyofmodern industry,that machinery sweeps
away everymoral and naturalrestriction on the length ofthe working
dayHencetootheeconomicparadoxthatthemostpowerfulinstrument
forreducinglabourtime suersadialecticalinversionandbecomes the
mostunfailingmeans forturningthewholelifetimeoftheworkerand
hisfamilyinto labour-time at capitals disposalforits ownvalorization
(z)
NowweseewhyJohnStuartNu wassoright.
Tethirdsubsectionexplicitlytakesupthequestionofintensincation.
Earlier usuallymentionedin passing (as, forexample,in the dennition
of socially necessary labor-time), intensity is here confronted head-
on. Capitalists can usemachinetechnologyto change andregulate the
intensity and pace of the labor process. Reducing what is called the
porosity ofthe working day (moments when workis notbeing done)
is akeyob]ective. Howmanyseconds in a working daycan a worker
goofoIftheyareinchargeoftheirowntools,thentheycanlaythem
down and pick them up again. Iaborers can work at their own pace.
Withmachinetechnology,thespeedandthecontinuityaredetermined
internallyto the machine system, andworkershaveto conform to the
movement of, say, the assembly line (as in Chaplins Aodcrn 1imc:).
Tereisaninversioninsocialrelations,suchthatworkersnowbecome
appendagesofthemachine.Oneofthegreatadvancesthatoccurredaher
8c,oncetheindustrialbourgeoisiegotoverthefactthattheyweregoing
tohavetodealwiththeFactoryActsandtheregulationofthelengthof
theworking day, wasthatcapitalists discoveredthatashorterworking
daywas compatiblewith increasing intensity. Tis repositioning ofthe
laborerasanappendagetothelaborprocessisofutmostimportancein
whatfollows.
CHAPTER EI GHT
N8CHnCty 8nO L8t_C-bC8C nOu8!ty
Inthelastchapter,Iinvitedyoutolookatthislongchapteronmachinery
throughthelensofMarx'sfootnote(, payingparticularattentiontothe
way"technologyrevealstheactiverelationofmantonature,thedirect
process ofthe production ofhis life, andtherebyit also laysbare the
process ofthe production ofthe social relations ofhislife,

nd ofthe
mental conceptions that owfrom those relations''When reading this
chapter,itisinterestingto note howMarxknits togetherinterrelations
betweenthesediderent"moments"inordernotonlyto understand the
evolutionofcapitalisttechnologiesbut alsoto showwhatit isthatthe
study of this evolutionary process reveals about the capitalist mode
of production viewed as a totality (as an ensemble or assemblage of
interactive elements) . Ifyouredthis chapter this way,youwh seein
it a rather richer set ofdeterminations than ]ust a simple story about
technologicalchange.
Inreadingthisgargantuanchapter(whereitisalltooeasytogetlost),I
alsosuggesteditwouldbehelpfultopayattentiontothesectionheadings
in order to maintain a sense ofthe dynamism ofthe whole argument.
Considerthestorysofar.Inthenrstsections,heexplainedhowcapitalism
evolveda unique technological basis by transformingthe technologies
8SS0CI8!6u WI!h h8BuICI8R 8Bu H8Bu8C!uIIBg IBuuS!II6S. JIS D8SIS IS
eventuallyachievedbytheproductionofmachinesbymachines,andby
theorganizationofmanymachinesintoafactorysystem.Butmachines
are commoditiesthathave tobepaidfor. Teirvaue,therefore,hasto
circulateasconstantcapitalduringthemachine'slifetime.Ifthatlifetime
istenyears,thenone-tenth ofthevalueofthemachine endsup inthe
product everyyear.Butthis imposesalimitthe depreciatingvalue of
themachineshouldbelessthanthevalueofthelaborreplacedbyit.This
creates the possibility for uneven geographical development. Iflabor
costsarehighintheUnitedStatesrelativetoBritain,thentheincentive
toemploymachineryintheUnitedStatesisgreater. Tradeunionpower
in West Germany from the mid-:,;o on sustained high wage rates,
zI
(
t comrtNioN fo mtkx: s CAPI7AI
which produced a strong incentive for technological innovation. Te
West German economythen gained relative surplusvaluevis-visthe
restoftheworldthroughtechnologicaladvantage,butthelabor-saving
innovationsproducedstructuralunemployment.
Inthethirdsection,Marxexaminedtheimplicationsforthelaborer
(the relationship between technologies and social relations) . Te
transformation from skilled crahs to machine minding permits the
employmentofwomen andchildren inwaysthatmightnothavebeen
possible earlier on. Tis allows the substitution of family labor (the
familywage)forindividuallabor(theindividualwage),withsavingsfor
the capitalistandwidespreadramincationsforfamilystructures,gender
relations and shihs in the role and form of domestic economies. But
theintroduction ofmachineryalso creates anincentiveto prolongthe
workingdayt

confronttheproblemof"moraldepreciation"(economic
obsolescence)andthedangeothedevaluationooldmachineybythe
introductionofnewandbettermachines.Capitaliststherefore strive to
recuperatethevaluecongealedinthemachineasfastastheycan,which
meanskeepingthemachineemployedtwenty-fourhoursadayifpossible.
Machinerycanalsobeusedtointensithelaborprocess.Capitalistscan
takecontrolofboththecontinuityandthespeedofthelaborprocessand
therebyreducetheporosityoftheworkingday.Intensincationemergesas
animportantcapitaliststrategyforsqueezingmoresurplus-valueoutof
thelaborer.Tisisthestorysofar.
Scc/ion: (-:o: Workcr:, Iuc/oric:, Indu:/r]
Te sevenremainingsectionsofthechapteron machinerybothdeepen
andbroadenourperspectivesonwhatcanbe"revealed"aboutcapitalism
through an examination oftechnological evolution.In section q, Marx
examines the factoryper se. Tisisthe centerpiece ofhis concern,not
simply as a technical thing but as a social order. But here I need to
insert somecriticalcaveats.Marx relies heavily ontwo sources for his
understanding of the factory system. Engels's nrsthand experience of
Manchester-style industrialism was critical and was supplemented
by the writings ofBabbage and Ure, who were the days leading pro-
capitalist ideologists and promoters ofprinciples ofemcient industrial
management.MarxtendstouniversalizewhatisgoingoninManchester
asifthisistheultimateformofcapitalistindustrialism,andheis,inmy
]udgment,abittooacceptingofBabbage andUres ideas.IfEngelshad
mtcniNrk\ tNo ttkcr-scttr iNousfk\
beeninBirmingham,Marx`spresentationmighthavebeenquitediderent.
Te industrial structure there was small-scalebut assembled in such a
wayastorealizeeconomiesofagglomeration.Itwasmorecrah -oriented,
with workshops producing guns, ]ewelry and various metallurgical
products, and it seems tohave been highly emcient and characterized
by very diderent labor relations from those found in the huge cotton
factoriesoftheManchesterregion.Marxevidentlyknewverylittleabout
what we might call the Birmingham model ofcapitalist industrialism
and thereforefailedto address a distinction thathas been long-lasting
in the history of capitalist development. South Korean industrialism
since the ,6os has been Manchester-like, but Hong Kong`s has been
moreBirmingham-like.Bavaria,whatiscalledtheThirdItalyandother
similarly organized indstrial districts (Silicon Valley being a special
case) havebeen critically important in recent phases ofindustrialism,
andthisisverydiderentfromtheManchester-likeindustrialformsinthe
PearlRiverDeltaofChina.Tepoint,however,isthatalltheindustrial
worldwasnotandisnotlikethefactoriesofManchester.Marx`saccount
ofthefactory,whilecompelling,isone-sided.
Marxbeginsbynotingthat
alongwiththetool,theskilloftheworkerinhandlingitpassesovertothe
machine.hecapabilitiesofthetoolareemancipatedfromtherestraints
inseparable from human labourpower. This destroys the technical
foundation on whichthe divisionoflabour in manufacture was based.
Hence,inplaceofthehierarchyofspecializedworkersthatcharacterizes
manufacture, there appears, in the automatic factory, a tendency to
eualizeandreducetoanidenticalleveleverkndofworkthathastobe
donebythemindersofthemachinesinplaceoftheartinciallyproduced
distinctionsbetweenthe specializedworkers,it isnaturaldiderences of
ageand sexthatpredominate . . lnso far as the divsion oflabour re
appears in the factory, it takes the form primarilyof a distribution of
workersamongthespecializedmachines.(()
Workerscanmovefromonemachinetoanother.Theybecome,inedect,
machineminders.
Marxisheredescribingthedeskillingthataccompaniestheriseofthe
factorysystem,suchthatalllaborisrenderedincreasinglyhomogeneous
Ifyoucanmindthismachine,youcanmindthatmachine.Thecontinued
signincanceofdeskillingthroughoutthehistoryofcapitalismhasbeen
21 t comrtNioN fo mtkx: s CAPI7AL
thesubectofconsiderabledebateinmorerecent times (beginningwith
HarryBraverman's Iu0or und Aonoo/] Cui/u/, ` whichprovoked alot
of commentary and study from the 1y)O onward). Furthermore,"the
motion ofthewholefactoryproceedsnotfromtheworkerbutfromthe
machinery,'andforthat reason"theworkingpersonnelcancontinually
be replaced without any interruption in the labour process" (6). The
resultisthatworkersarereducedtothelifelongtaskofservingparticular
machines. Plainly,theworkerandsocialrelationsarebeingtransformed
alongwiththeworker'swork,suchthatworkersbecomemereappendages
ofmachines.
ln handicransandmanufacture, the worker makes use ofatool,inthe
factory, the machine makes use of him. Tere the movements of the
instrumentoflabourproceedfromhim,hereitisthemovements ofthe
machinethathemustfollow.Inmanufacturetheworkersarethepartsof
alivingmechanism.In the actorywehave alielessmechanismwhich
is independent ofthe workers,who are incorporatedinto it as its living
appendages . . . Eventhelighteningofthelabourbecomesaninstrument
oftorture,sincethemachinedoesnotfreetheworkerfromthework,but
rather

eprivestheworkitselfofallcontent. . . Teconditionsofwork
employ the worker. However, it is only with the coming ofmachinery
that this inversion nrstacquires atechnical and palpablereality.wing
to itsconversioninto anautomaton,the instrumentoflabourconfronts
theworkerduringthelabourprocessintheshapeofcapital,deadlabour,
which dominates and soaks up living labourpower. Te separation of
the intellectual faculties ofthe production processfrom manual labour,
andthetransformationofthosefacultiesintopowersexercisedbycapital
overlabour,is,aswehavealreadyshown,nnallycompletedbylarge-scale
industryerectedonthefoundationofmachinery.(8-p)
Inotherwords,mentalconceptionsarenowdividedfromphysicallabor.
Themental conceptions liewith the capitaliststhey arethe ones who
are designing things. Iaborers are not supposedto think, theyare ust
simply supposed to mind machines. This may not betrue in fact, of
course,butthepointisthatthisisthestructureforwhichthecapitalist
classstrugglesdayandnight,andasaconsequencethewholestructure
I. Harry Bravcrman, Lu0or und Nonoo/] Cui/u/. 1hc Ocgrudu/ion o[Work in
/hc 1wcn/ic/h Ccn/ur] (Ncw York. MonthIy Rcvicw Prcss, I 974).
mtcniNrk\ tNo ttkcr-scttr iNousfk\ 21 )
ofmentaI conceptions, sociaI reIations,reproduction ofIife, reIation to
natureandsoonisbeingtransformedaIongcIassIines.
TespeciaIskiIIofeachindividuaImachine-operator,whohasnowbeen
deprived ofaIIsigni6cance,vanishes as anin6nitesimaI quantityin the
faceofthe science readmentaIconceptions] ,thegiganticnaturaIforces
readthereIationtonature] ,andthemassofsociaIIabourembodiedinthe
systemofmachinery,which,togetherwiththosethreeforces,constitutes
thepowerofthemaster
ut this transformation is predicated on that capacity to so degrade
the positionaIityofworkersthattheyare no more than appendages of
machines,unabIetouseanyoftheirmentaIpowersandsubjectedtothe
capitaIists'"autocraticpower"() anddespoticruIes.SkiIInowresides
onIywiththosewhodesignthemachines,theengineersandsoon,who
becomeasmaIIgroupofhighIyspeciaIizedworkers.utasMarxearIier
remarked,asacounterpointthereemerges"a superiorcIass oworkers,
inpartscientihcaIIyeducated,inparttrainedinahandicran,theystand
outsidethereaImofthefactoryworkers,andareaddedtothemonIyto
makeupanaggregate"(-6).
ransformations of this sort were ound to provoke resistance,
particuIaIy from skiIIedworkers. Tis is the focus ofsection ,deaIing
with"TeStruggIeetweenWorkerandMachine`Te so-caIIedLuddite
movement (named aner a hctionaI character caIIed Ned Ludd) was a
machine-breaking movement in which workers wouId protest their
deskiIIingandIossof jobsbysmashingthemachines.Teysawthemachines
astheircompetitors,asthedestroyeroftheirskiIIsandthecreatoroftheir
jobinsecuriy.utMarxnotesanevoIutioninthepoIiticsofthisrevoIt
TeIarge-scaIedestructionofmachinerywhich occurredintheEngIish
manufacturing districts during the 6rst 6heen years ofthe nineteenth
century,IargeIyas a resuIt ofthe empIoyment ofthe power-Ioom, and
known as the uddite movement, gave the anti-acobin government,
composedofsuchpeopIe as idmouthandCastIereagh,apretextforthe
mostvioIentandreactionarymeasures.ttookbothtimeandexperience
before the workers Iearnt to distinguish between machinery and its
empIoyment by capitaI, and therefore to transfer their attacks from the
materiaI instruments ofproduction to theform ofsocietywhich utiIizes
thoseinstruments.((-)
21 t comrtNioN fo mtkx:s CAPI7AI
This statement calls for carefulevaluation.Marxseemsto suggesthere
thatthe problem is notmachines (thetechnology),butcapitalism (the
socialrelations). H maybeinferred(wronglyinmyview)thatmachines
areinthemselvesneutral,thattheycanthereforebeusedinthetransition
to socialism. It seems to have been historically true that the workers
themselves gave up on indiscriminate machine breaking in favor of
targeting those capitalists who were using machine technology in the
mostbrutalmanner.ButthisseemstoviolatethespiritofMarx'sgeneral
line ofargument,particularlygivenmyreading ofthe fourth footnote,
in which technologies and social relations are integral to each other.
Underthis reading,thereisbound to be aproblemwithmachines,too,
sincetheyhavebeendesignedandsetupinsuchawayastointernalize
certain social relations,mental conceptions andwaysofproducing and
living.Thatworkersarebeingturnedintoappendagesofmachinesisnot,
surely,agoodthing.oristhedeprivationofmentalcapacitiesassociated
with capitalist machine technologies. So when Ienin praised Fordist
techniquesofproduction,setup factorysystemsforproductionsimilar
to thosebeingcreatedbyUScorporationsandmadetheargumentthat
thetransformationofsocialrelationswroughtbytherevolutionwaswhat
fundamentally mattered, he was treading on dangerous ground. Marx
himselfappearsambiguousinthesepassages.Elsewhere,heismorecritical
ofthenatureofthetechnologiesthroughwhichcapitalismhasfoundits
ownbasis.Tetechnologiesdiscussedinthischapterarethosesuitedtoa
capitalisticmodeofproduction.Thisshouldleadusautomaticallytopose
theproblemofdiscoveringthosedistinctivetechnologiesappropriatetoa
socialistorcommunistmodeofproduction.Ifyoutakethetechnologies
ofacapitalistmode ofproduction andtryto construct socialism with
them,what are you going to getYou are likely to get anotherversion
ofcapitalism,whichiswhattendedtohappenintheSovietUnionwith
the spreadofFordist techniques. Inthe samewaythat Marx critiqued
Proudhonformerelyinstantiatingbourgeoisnotionsof]ustice,soMarx
isindangerhereofendorsingtheinstantiationofcapitalisttechnologies.
One wayto defend Marx is to go back to how he depicts the rise
of capitalism. In the manufacturing period, capitalist development
rested onlate feudal handicrah andmanufacturingtechnologies (while
changingtheirorganizationalform), andthiswasnecessarilysogiventhe
con]uncturalconditions.Hwasonlylaterthatcapitalismcametodeneits
speci6ctechnologicalbasis.Inexactlythesameway,socialismwasbound
mtcuiNrr\ tNo ttrcr-scttr iNousfr\ 21Q
tomakeuseofcapitalisttechnologiesinitsearlyrevolutionarystages,and
giventheexgenciesofthemoment(warandmassdisruption),Ieninwas
therefore correct to turn to the most advanced capitalist technological
formsinordertoreviveproductionandsoprotecttherevolution.Buta
socialistrevolutionarypro]ectinthelongtermcannot,givenmyreading
ofthe footnote, avoid the question ofthe de6nition ofan alternative
technological basis as well as alternative relations to nature, social
relations,productionsystems,reproductionthroughdailylifeandmental
conceptions oftheworld.Andthis,it seems tome,hasbeen oneofthe
acutefailuresinthehistoryofactuallyexistingcommunisms.hisissue
is,ofcourse,broaderthancommunism,sincethequestionofappropriate
technologiestorealizecertain social andpolitical aims,betheyfeminist,
anarchist,environmentalistorwhatever,isageneralmatterdeservingof
close consideration. Technologies,we haveto conclude,are notneutral
withrespecttotheothermometsinthesocialtotality
Te problematic class character ofcapitalist technologies is actually
con6rmedinMarxstext."Machinery,'hewrites,
doesnotJustactasasuperior competitortothe worker, always onthe
pointofmakinghimsuperuous.Itisapowerinimicaltohim,andcapital
proclaimsthisfactloudlyanddeliberately,aswellasmakinguseofit.Itis
themostpowerfulweaponforsuppressingstrikes,thoseperiodicrevolts
oftheworkingclassagainsttheautocracyofcapital.Accordingtoaskell,
thesteamenginewasfromthevery6rstanantagonistofhumanpower
an antagonistthatenabledthecapitaliststo treadunderfootthegrowing
demands oftheworkers . . . Itwouldbepossibletowriteawholehistory
oftheinventionsmadesince8]oforthesoleuroseofrovidingcaital
withweaponsaainstworknclassrevolt(6-)
Socapitalists consciouslyconstructnewtechnologies as instruments of
classstruggle.Thesetechnologiesnotonlservetodisciplinethelaborer
withinthelaborprocessbutalsohelptocreatealaborsurpluswhichwill
depresswagesandworkeraspirations.
Marx here introduces the idea of technologically induced
unemploymentforthe6rsttime.Iabor-savinginnovationsputpeopleout
ofwork.Indeed,overthepastthirtyyears,strongtechnologicalchanges
and incredible increases in productivityhavegeneratedunemployment
and]obinsecurityandmadeitmucheasiertodisciplinelaborpolitically.
22O t comrtNioN fo mtkx: s CAP7AI
Tetendencyhasbeentoblameoutsourcingandcompetitionfromlow-
wage labor in Mexico and China for the ills ofthe USworking class,
butstudiesshowthatabouttwothirdsofthe]oblossestherearedueto
technological change.When I arrived in Baltimore in 6, Bethlehem
Steelwasemployingmorethantwenty-nvethousandworkers,buttwenty
yearslateritwasemployingfewerthannvethousandworkers,producing
aboutthesameamountofsteel."Teinstrumentoflabourstrikesdown
theworker"().
Teclaimthattechnologiesareusedasweaponsofclassstruggleisnot
hardtosubstantiate.Irecallreadingamemoirofanindustrialist,amachine-
toolinnovaor,workinginSecondEmpireParis.Hegavereemotivations
for innovation. nrst, to lower the price ofthe commodity and improve
competitive position, second, to improve emciency and eliminate waste,
third,toputlaborinitspaceFromtheIudditesonward,theclassstruggle
overtechnologicalormshasbeenanendlesseatuethincapitalism.
Section 6, "Te Compensation Teory' focuses on the aggregate
relationshipbetweencapitalandlaborasaconsequenceoftechnological
changes.Ifcapitalistssavevariablecapitalbyemployingfewerlaborers,
then what do they do with the capital they save Iftheyexpand their
activities,thensomeofthelaborrenderedredundantisreabsorbed.On
thisbasis,bourgeois economists ofthetimeinvented a compensation
theorytoprovethatmachinesinaggregatedidnotcauseunemployment.
Marx does not deny that there can be some compensation, but how
much is problematic.You can pick up o percent ofthe laborers you
]ust maderedundant,or zo percent.Tere is noautomaticreasonwhy
allwill be reabsorbed."Machinerynecessarilythrows men out ofwork
in those industries intowhichitisintroduced'butitmay,"despitethis,
bringaboutanincreaseinemploymentinotherindustries.Tisedectof
machinery,however,hasnothingincommonwiththeso-calledtheoryof
compensatio (;o). Even ifmostworkers eventuallygetre-employed,
there is still a serious transitional problem.'s soon as machinery has
setfreeapartoftheworkersemployedinagivenbranhofindustry,the
reservemethatis,thereservearmywhichisalways outthere"are
also diverted into new channels ofemployment, and become absorbed
in otherbranches,meanwhile,theoriginalvictims" thosethrown out
ofwork "duringthe period oftransition,forthemostpartstarveand
peris (68). Tere are also adaptationproblems. steelworkers cannot
becomecomputerprogrammersovernight.
mtcuiNrk\ tNo ttkcr-scttr iNousfk\ 221
Terefore, since machinery in itself sortens the hours oflabour, but
when employed by capital it lengthens them since in itself it lightens
labour,butwhen employedbycapitalit heightens itsintensity sincein
itselfitisavictoryofmanovertheforcesofnaturebutinthehandsof
capitalit makesmantheslaveofthoseforcessincein itselfit increases
thewealthoftheproducers,butinthehandsofcapitalitmakestheminto
paupers,thebourgeoiseconomistsimplystatesthatthecontemplationof
machinery in itselfdemonstratesithexactitude that all these evident
contradictions are a mere semblance, present in everyday reality, but
notexistinginthemselves,andthereforehavingnotheoreticalexistence
either.(-,)
Temachinealwayshastobeseeninrelation,therefore,tothecapitalist
use of it. And there is no question but that capitalist uses are ohen
ruthlessly and needlessly oppressive But ifthe machine is viewed "in
itself"asa"victoryofmanovertheforcesofnature,'aswellas"initself"
endowedwithpotentiallyvirtuous possibilities (such aslighteningthe
load oflabor and increasing material well-being,then we are back to
the dubious proposition that capitalist technology "in itself" can lay
thebasisforalternativeformsofsocial organization withoutanyma]or
ad]ustment,letalonerevolutionarytransformation.Tequestionisposed
oncemoreofthepositionalityoforganizational forms,oftechnologies
and machines in the transitionfromfeudalism to capitalism and from
capitalismto socialismorcommunism.Tisisoneofthebigquestions
raisedinthischapter,onethatdeserveslongandhardthought.
Compensation also arises because the introduction of machines
increases employment in the machine-tool industry. But recal, "the
increase in the labour required to produce the instruments olabour
themselves,themachinery, coa,etc.mustbelessthanthereduction in
labour achieved by the employment of machinery" ;c). Ten there
is the possibility ofincreasing employment in raw-material extraction.
But in the case ofcotton, this unfortunately meant the intensincation
andexpansionofslavelaborintheUSSouthratherthantheexpansion
ofwageemployment.Butifall these possibilities for compensation are
blocked,thentheoriginalproblemofwhatthecapitalistsshoulddowith
theirexcesscapital remains.Theyacquireisexcess,eitherindividually
orasaclass,asthevalue oflabor-powerdeclinesandasthe number of
laborerstheyemploytendstodecrease.
222 t comrtNioN 1o mtkx
:
s CAP7AI
Whatisposedhere,albeitinsomewhatshadowyform,istheproblem
ofwhat the bourgeoisie should do with all its surplus capital. Tis is a
huge and fundamental problem. l call it the capital-surplus-absorption
problem. Capitalists necessarily end up with more of something, a
surplus,attheendoftheday, andthenthey`vegottheproblemofwhat
dotheydowiththatsurplusthenextday.lftheycatnndanythingtodo
withit,theyareintrouble.Tisisthecentralproblemthatgetstakenup
inlatervolumesofCui/u/. Marxdoes notattempttoanalyzethisinall
itsfullnesshere,buthedoesthrowoutsomesuggestions."Teimmediate
resultofmachineryistoaugmentsurplus-valueandthemassofproducts
in which surplus-value is embodied. R also increases the quantity of
substances for the capitalists andtheir dependants to consume";z).
So"the production ofluxuries increases"while themarket for surplus
productmayalsobeincreasedthroughtheexpansionofforeigntrade.
Teincreaseinmeans ofproductionandsubsistence,accompaniedbya
relativediminutioninthenumberofworkers,providestheimpulseforan
extensionofworkthatcanonlybearfruitinthedistantfuture,suchasthe
constructionofcanals,docks,tunnels,bridgesandsoon.()
nvestmentsinlong-termphysicalinfrastructureswhichdontbearfruit
formanyyears canbecomevehiclesforsurplusabsorption. Remarks of
thissorteventuallyledmetotheorize,in1c Limi/: /o Cui/u/, thecrucial
roleofgeographicalexpansionsandlong-terminvestments(particularly
inbuiltenvironments)inthestabilizationofcapitalism.
lnaddition,
the extraordinary increase in the productivity of large-scale industry,
accompanied as it is byboth a more intensive and a more extensive
exploitationoflabourpowerinallotherspheresofproduction,permitsa
largerandlargerpartoftheworkingclasstobeemployedunproductively.
Hence it is possible to reproduce the ancient domestic slaves, on a
constantlyextendingscale,underthenameofaservantclass,including
men-servants,womenservants,lackeys,etc.
Tisclassofunproductivepeopleincludes
allwhoaretoooldortooyoungforwork,allunproductive'women,young
personsand children . . . theideologicalgroups',suchasmembersofthe
vtcuiNrk\ tNo ttkcr-scttr iNousfk\ 22j
government,priests,lawyers,soldiers,etc., . . .allthe people exclusively
occupiedin consumingthelabour ofothers intheformofground rent,
interest,etc.;()
All this large population has to be supported out ofthe surplus.With
reference to England and Wales, Marx cites the 86 census ngures,
which showthat"allthe persons . . . employedin textile factories and
metalindustries,takentogether,number,c],6c,'whilethoseinmining
accountedfor6,8],comparedwiththe,zc8,6(8personsintheservant
class (or "modern domestic slaves") ;(). We tend to think that the
radical shih from manufacturing to services occurred in the past half
century,butwhatthesenguresillustrateisthatthis is notanewsector
atall.TebigdiderenceisthatMarx'sservantclasswasnotforthemost
partorganizedalongcapitalistlines(alotofservantslivedin). Terewere
no stores whose signs said"Nails,'"Cleaners,'"Hairalon orwhatever.
Butthepopulationnumbersinvolvedin this formofemploymentwere
alwayslargeandtooohenneglectedineconomicanalyses(includingthat
ofMarx),eventhoughtheyoutnumberedtheworkingclassintheclassic
senseoffactoryworkers,minersandthelike.
ection;,onthe"RepulsionandAttractionofWorkers through the
DevelopmentofMachineProduction,'examinesthetemporalrhythms
ofemploymentcorrespondingto the ebb and owofbusiness cycles.
Pronts,Marxargues,"notonlyformasourceofacceleratedaccumulation,
they also attract into the favoured sphere ofproduction a large part
ofthe additional social capitalthat is constantlybeing created,andis
alwaysseekingoutnewareasofinvestment";8). Butassurpluscapital
owsintothesenewlyfavoreddI0dS, ! 0BC0uB!0IS C0I!dB DdIII0IS SuCh
as"thosepresentedbytheavailabilityofrawmaterialsandtheextentof
sales outlets";). Where areyougoingtogetthe newrawmaterials
from,andwhomareyougoingtosellyoursurplusproductto These,
asweshallsee,arekeyquestions,andwewillcomebacktotheminthe
nnalsection,"ReectionsandPrognoses''
The immediate answer that Marx proders here is~India You go
wreckthedomesticindustriesofIndiaandturnthatvastpopulationinto
yourmarket,atthesametimeasyoualsoturnIndiaintoaraw-material
producer foryour own market. That is, you engage in imperialist and
colonialistpracticesandgeographicalexpansions.Teproblemissolved
bywhatIcallaspatialm.Asaresult,
22q t comrtNioN fo mtkx's CAPI7AI
a ncw and ntcrnatona! dvson ot!abour sprngs up,oncsutcdtothc
rcgurcmcntsotthcmanndustracountrcs,andtconvcrtsoncpartot
thcg!obcntoachcyagrcu!tura! hc!dotproductontorsupp!yingthc
othcrpart,whchrcmansaprc-cmncnt!yndustra!hc!d.(;p8o)
owathscs,asyct,outsdcthcrasQotNarxsthcorctcaaQQaratus.
but what wc ccary scc trom ths sccton s thc soca ncccsstywthn
a caQtast modc ot Qroducton to sovc ts caQta-surQus dsQosa
QrobcmthrouhcoraQhcaandtcmQoradsQaccmcnts.
LbbsanddowsnthcndustracyccarccharactcrstcotcaQtasm.
Jc tactory systcms trcmcndous capacty tor cxpandng wth suddcn
mmcnsc !caps,and ts dcpcndcncc on thcwor!dmarkct,ncccssary gvc
rsc to thc toowng cycc. tcvcrsh producton, a conscgucnt gut on thc
maiKct, thcn a contraction o thc marKct, which causcs QiOduction to
bccrpp!cd. Jhc !tc otndustry bccomcs a scrcs otpcrods otmodcratc
actvq,prospcrty, ovcr-producton,crssand stagnaton.Jcunccrtanty
and nstab!ty to whch machncry subjccts thc cmpoymcnt, and
conscgucnt!ythc!vng condtons, otthcworkcrsbccomcsanormastatc
otaars,owngtothcscQcrodcturnsotthcndustracycc.Lxccptnthc
Qcrods otQrosQcrty, amostmrous combat racs bcbccn thc captasts
tor thcrndvduasharcnthcmarkct.Jssharcsdrcctyproportona!
to thc chcapncss otthc product.^Qart trom thcrvaryths strugg!c gvcs
rsc to nthc usc otmQrovcd machncrytorrcQacngabour-Qowcr, and
thcntroductonotncwmcthods otQroducton,thcrc aso comcs atmcn
cvcryndustracyccwhcnatorcbcrcducton otwagcsbcncaththcvauc
otabour-Qowcrsattcmptcdsoastochcapcncommodtcs.(8o-z)
Jsbroad-brushdcscrQtonotcyccamovcmcntsnthccconomyacks
any thcorctca undcrQnnn, and thc cxact mcchansms that Qroducc
suchmovcmcnts rcman uncxQorcd.Narxmovcs, as t wcrc, trom thc
tcrran otthcory to a schcmatc dcscrQton otthc cyccs otboom and
bust charactcrstc otthc brtsh cconomy n hs tmc.What toows s
ahstoryotthc boom andbustcyccs nthc brtsh cotton ndustry, thc
man QurQosc otwhch aQQcars to bc to smQy ustratc hs hstorca
Qont.csummarzcsthcstory.
Wc hnd,thcn,n thc hrsttorty-hvc ycars otthc Lng!sh cotton ndustry,
trom ;;o to 8, on!y hvc ycars ot crss and stagnaton, but ths was
MACHINRY AND LARC~SCAL !NDUSTRY 22j
the period of monopoly. Te second period from 8 to 86 counts,
duringits forty-eightyears,onlytwentyyearsofrevival and prosperity
againsttwenty-eightofdepressionandstagnation.Between8 and8c
competition with the continent of Europe andwith the nited tates
sets in. Aner 8, the extension of the Asiatic markets is enforced by
destructionofthehumanrace(8;)
A footnote makes clearthatthe"humandestruction heis referringto
wasthatwroughtbytheBritishastheyforciblyusedtheopiumgrownin
Indiato sellinChinainreturnforChinesesilverthatcouldbeusedto
buyBritishgoods.
InSection8"Te RevolutionaryImpactofIarge-ScaleIndustryon
Manufacture,HandicrahsandDomesticIndustry,'Marxexamineswhat
happensasdiderentlaborsystemsarebroughtintocompetitionwithone
another. Tis section raises some intriguing questions. In Marx's time,
there were domestic labor systems, handicrah systems, manufacturing
systems and factory systems all coexisting, sometimes in the same
region.Whenbroughtintocompetitionwithoneanother,thesesystems
underwentadaptations,sometimesproducingnewhybridforms,butwith
thegeneralresult thatconditionsofworkbecameabsolutelyappallingif
nottotallyintolerableinall sectors.Handicrahworkershadtoworknve
timesas hardtocompetewiththeproductsofpowerlooms,forexample.
ButMarxseemstobelievethat,ultimately,thefactorysystemwasgoing
toprevail.I say"seems"becausehe does notexplicitlysayso.Butthere
are manyhints here ofsome sort ofteleological progression, suchthat
capitalism necessarily and increasingly moves toward a factorybased
system. e olderadhybridlaborsystems,hangngonby organizing
totallyinhumanesystemsofexploitation(whichMarx,withthehelpof
thefactoryinspectors,willdescribeingraphicdetail),couldnotpossibly
last.Ifthisiswhatheissaying,thentherearegroundsfordisagreement.
Ipreferto readhiminanotherway,possiblyagainstthegrainofhis
ownthinking.Capitalists,Iwouldargue,liketopreserveachoiceoflabor
system.Iftheycantmakesumcientprontbythefactorysystem,theywant
theoptiontogobacktoadomesticsystem.Iftheycantmakeitthatway,
they'llgo odto akindofquasi-manufacturingsystem.Tat is,insteadof
takingthe conditionsMarxdescribesinthis chapter as temporaryand
transitional,Ipreferto read them as permanentfeatures (options) ofa
capitalist mode ofproduction in which competition between diderent
zz6 t comrtNioN fo mtkx:s CAPI7AI
Iabor systcms bccomcs a wcapon to bc uscd by captaI aganst Iabor
n thc struggIc to procurc surpIus-vaIuc. \sng Marx's account otthc
dcvastatngconscgucnccsotcompcttonbctwccnIaborsystcmsthsway
provdcs abcttcrundcrstandng otcxactIy what's gongonn thcworId
rghtnow.JhcrcvvaIotswcatshopandtamIyIaborsystcms,puttng-out
systcms,subcontractngsystcmsandthcIkchasbccnamarkcdtcaturcot
gIobaIncoIbcraIcaptaIsmovcrthcpasttortyycars.Jhctactorysystcm
has noaIwaysworkcdto captaI's advantagc,andMarx docshavcsomc
goodnsghtsastowhy.Workcrs,broughttogcthcrnaIargctactory,can
bccomcaIItooawarcotthcrcommonntcrcstsandbccomcapotcntaIIy
powcrtuIcoIIcctvcpoItcaItorcc.!ndustraIzaton nSouth Korcaahcr
p6oorsoproduccdaIargc-scaIctactoryIaborsystcm,andoncrcsuItwas
a strong tradc-unon movcmcnt that bccamc a poItcaIIy potcnt torcc
untI discipIincd inthc crssotpp;-8.ThcIaborsystcminHongKong
rcstcd on swcatshop tamiIy Iabor and subcontracting structurcs, and
thcrc sIttIcn thcwayota tradc-unon movcmcntthcrc.Jhcrc arc,ot
coursc,aIIsortsotothcrtactorsthatcomcntopIay,butthcpontsthat
thc avaIabItyota chocc otIabor systcm s mportant to captaI n thc
dynamcsotcIass struggIc.
!thcrctorchndt mostvaIuabIctorcadthcsc scctons otCui/u/ asa
cautonarytaIcothowcaptaIsts,cndowcdwthachoccotIaborproccss
andIaborsystcm,uscthatchoccasawcaponncIassstruggIcovcrsurpIus
gcncraton.Jctactoryworkcrsarc dscpIncdbycompcttonwththc
swcatshops, and vcc vcrsa. Jc hcghtcnng ot compctton bctwccn
Iabor systcms has madc mattcrs much worsc torIabor n rcccnt tmcs
comparcdwth,say,thcp6osorp;o,whcnnmanypartsotthccaptaIst
worIdthcrcwcrcIargsh tactorysystcms and strongIabor organzatons
that supportcd socaImovcmcntswthsomcdcgrccotpoItcaIntIucncc
andpoItcaIpowcr.8ackthcn,t was tcmptngto thnkthatthctactory
systcm was ndccd gong to drvc out aII cIsc andthat thc poItcs that
tIowcd trom ths wouId Icad on to socaIsm. Many pcopIc who rcad
Cui/u/ durngthcp6ostavorcdsuchatcIcoIogcaIntcrprctaton.
Consdcr, thcn, Marx's account n grcatcr dctaI. Frst wc gct thc
subsccton "vcrthrow ot Co-opcraton 8ascd on Handcrahs and on
thc Ovson ot Labour,` whch dcscrbcs a dstnctvc dspIaccmcnt ot
onc Iabor systcm by anothcr. Sccond, thc mpact on manutacturc and
domcstcndustrcsscxamncd.!nthsnstancc,thcthcmcsadaptaton
andnotovcrthrow.
:tcuiNrk\ tNo ttkcr-scttr iNousfk\ zz/
Tc prncpIc ot machnc producton, namcIy thc dvson ot thc
producton proccss nto ts consttucnt phascs, and thc soIuton ot thc
probIcms arsng trom ths by thc appIcaton ot mcchancs, chcmstry
and thcwhoIcrangc otthc naturaIsccnccs,nowpIaysthc dctcrmnng
roIccvcrywhcrc.pc)
!n othcr words, thc mcntaI conccptons assocatcd wth machnc
tcchnoIogcs pcnctratcd nto thc rcorganzaton ot thc oIdcr systcms.
Sccncc and tcchnoIogy onIy bcgan to coaIcscc wth ndustry n thc
nnctccnthccntury,whchndccdcntaIcdbrcakngdownIaborproccsscs
sccnthcaIIyntocomponcntphascs,routnzngandmcchanzngthcm.
utthsmpIcdamcntaIrcvoIutonnthcwaywcundcrstoodthcworId,
suchthattbccamcpossbIctoappIysccnthcmcthodtoaIIIaborsystcms
ncIudngartsanaIoncs).1obcsurc,thsddnothappcnautomatcaIIyn
manutacturcandthcdomcstcndustrcs,whcrcoIdcrtormsotthnkng
hadIongprcvaIcd.utthc conscgucnccs tor thosc ndustcs thatwcrc
rcorganzcdaccordngtosccnthc andtcchncaI prncpIcswcrchorrhc,
tMarx`saccountotIaccproductonp6p)sanythngtogoby.
Jhc torm domcstc ndustry now tookhad, n tact,"nothng but thc
namcncommonwththcoId-tashoncddomcstcndustry` !thad"bccn
convcrtcdntoancxtcrnaIdcpartmcntotthctactory,thcmanutacturng
workshop,orthc warchousc.` !nthsway, captaI"scts anothcrarmyot
workcrsnmotonhoIdngthcmtogcthcr"bymcansotnvsbIcthrcads.`
Hc ctcs thc cxampIc ota shrt tactorycmpIoyng,ccc workcrs aIong
wth "p,ccc outworkcrs sprcad ovcr thc country dstrcts.` Js torm
otIabor organzaton rcmans common to ths day,partcuIarIy nAsa
whcrcthc JapancscautomobIcndustryto tacust onc cxampIc,rcsts
onthcbassotavastnctworkotdomcstcsubcontractorsproducngauto
parts. "ShamcIcsscxpIotato scharactcrstcotthcsc"modcr torms
ot domcstc ndustry n part bccausc "thc workcrs` powcr otrcsstancc
dccIncswththcr dspcrsaIand bccausc"awhoIc scrcs otpIundcrng
parastcs nsnuatc thcmscIvcs bctwccn thc actuaI cmpIoycr and thc
workcrhccmpIoysp) .
JcwdcsprcadtranstormatonsnaIIIaborsystcmswcrccompIcatcd
nthcrspcchcs."JcrcvoIutonnthcsocaImodcotproductonwhch
s thc ncccssaryproduct otthc rcvoIuton n thc mcans otproducton
s accompIshcd through a varcgatcd mcdIcy ot transtonaI torms
6cz) . 8ut, and ths s thc cIoscst Marx gcts to cndorsng a tcIcoIogcaI
zz8 t comrtNioN fo mtkx: s CAP7AI
pcrspcctvc,"thc varcty otthcsc transtonaI torms docs not, howcvcr,
conccaIthctcndcncyopcratngtotranstormthcmntothctactorysystcm
propcr(6c]).Jss,howcvcr,atcndcncyandnotaIaw,andwhcnMarx
uscs thcword"tcndcncy,'tsmportantto notc,hcncarIyaIways hasn
mndcountcractngtcndcnccsthatmakcactuaIoutcomcsunccrtan.8ut
nthsnstancchcdocsnotcxamncpotcntaIcountcrtcndcnccs.
Marx docs dcscrbc how"ths ndustraI rcvoIuton,whch advanccs
naturaIIyandspontancousIy,saIsohcIpcdonarthcaIIybythccxtcnson
otthcFactoryActsto andustrcsnwhchwomcn,youngpcrsons and
chIdrcn arc cmpIoycd (6c().nIythcIargcstbusncsscs,hc notcs, had
thc rcsourccstocompIywththcrcguIatons.
Jnough thc actory cts thus artihciaIIy ripcn thc matcraI cIcncnts
ncccssarytortheconvcrsionotcnanutacturingsystcnintothctactory
systen,yet at the sane tine,easetheynae iteessayto ay ota
grcatcramountotcaptaI,thcyhastcnthcdccIncotthcsmaIImastcrs,and
thcconccntratonotcapita(6c;)
8gcptaIconscgucntIyohcn supports thc rgorous cntorccmcnt ota
knds otrcguIatory rcgmcs on, tor cxampIc, occupatonaI satcty and
hcath, partcuIarIy t smaII busncsscs cat ahord thcm, Icavng thc
whoIchcIdto thcIargccorporatons.WhatscaIIcd"rcguIatorycapturc
hasIongbccnatcaturcnthchstoryotcaptaIsm.Corporatonscapturc
thcrcguIatoryapparatusanduscttocImnatc compctton.WhcnMn
Coopcrshrstcamcoutn8rtannthccarIy6cs,thcrcguIatoryrcgmc
nthc\ntcdStatcscxcIudcdthcmbynsstngthathcadIghtshadtobc
ths much ohthc ground,whcrcas torthc Mn Coopcr,thcywcrc onIy
thatmuch. SomuchtorthcrcaIpractccsottrcctradc
Jhc scasonaIty that charactcrcs somc Incs ot producton poscs
anothcrsctotprobIcmstowhchcaptaIhastoadapt.ncotthcrcasons!
hndCui/u/ suchaprcsccntbooksthatMarxohcndcnthcstcndcnccs
at work nthc captaIsm oths tmc whch arc aII too casy to dcntp
n ours. Jncrc has, tor cxampIc, bccn a tcndcncy wthn captaIsm to
construct what camc to bc known n thc 8cs, as a rcsuIt otapancsc
nnovaton, as "just-n-tmc systcms. Marx notcd n hs day how
huctuatons ndcmand andsuppIy, both scasonaI andannuaI,caIIcdtor
hcxbIcmodcsotrcsponsc.Hcctcsacontcmporarycommcntator:
mtcuiNrk\ tNo ttkcr-scttr iNousfk\ zz
`Tccxtcnson otthcraIwaysstcmthroughoutthccountryhastcndcd
vcrymuch to cncouragc gvng short notcc. Purchascrs now comc up
trom Iasgow, anchcstcr, and Ednburgh oncc cvcry tortnght or so
to thcwhoIcsaIcctywarchouscswhchwcsuppIy, andgvcsmaIIordcrs
rcgurngmmcdatccxccuton,nstcadotbuyngtromstockasthcyuscd
to do.Ycars agowcwcrcaIways abIc toworkn thc sIacktmcs so as to
mcctthc dcmandotthcncxtscason,butnowno onccansaybctorchand
whatwIIbcndcmandthcn
For ths hcxbItyto bc achcvcd,howcvcr, thc crcaton otan adcguatc
ntrastructurc ot transport and communcatons was ncccssary. "Jc
habtotgvngsuchordcrsbccomcsmorctrcgucntwththccxtcnsonot
raIwaysandtcIcgraphs6c8).
Scctonp,on"JcHcaIthandEducatonCIauscsotthcFactoryActs`
poscsanothcrsctotntcrcstngcontradctons."FactoryIcgsIaton`Marx
bcgnsbynotng,
that hrst conscous and mcthodcaI rcacton ot soccty aganst thc
spontancousIy dcvcIopcd torm ot ts producton proccss, s, as wc havc
sccn,justasmuch thc ncccssaryproductotIargc-scaIcndustryascotton
yarn,scIt-actorsandthc cIcctrc tcIcgraph.(o)
Jc Acts not onIysought to rcguIatc thc hours otworkbut aIso had
somcthng to say about hcaIth and cducaton, topcs whch most
ndustraIstsrcsstcdvoctcrousIy.NcvcrthcIcss,
as obctwcn has shown usindctaiI,thcgcm otthc cducationotthc
tuturc s prcscntn thc tactory systcm ths cducatonw ,n thc casc ot
cvcrychId ovcragvcn agc, combncproductvcIabourwth nstructon
andgymnastcs,notonIyasoncotthcmcthodsotaddngtothccccncy
ot producton, but as thc onIy mcthod ot producng tuIIy dcvcIopcd
humanbcngs.
Why arc wc suddcnIy taIkng about "tuIIy dcvcIopcd human bcngs
n a chaptcr rtc wth storcs otthc dcstructon otthc dgntyand thc
appropraton otaII thccapactcsotthc IaborcrbycaptaI CouIdt bc
that ndvduaI captaIst rcsstancc to hcaIth and cducaton provsons
s rratonaI trom a captaIst cIass pcrspcctvc`s wc havc sccn,Iargc-
scaIc ndustry swccps away by tcchncaI mcans thc dvson otIabour
z{ o t comrtNioN 1o mtkx s CAPI7AI
charactcrstc ot manutacturc and rcproduccs "ths samc dvson ot
Iabour n astIImorc monstrous shapc . . . byconvcrtngthcworkcrnto
a Ivng appcndagc ot thc machnc (6(). Jc cccts on chIdrcn arc
partcuIarIy dcvastatng. 8ut thcrc arc somc postvc sgns n thc mdst
otaIIths.
Rght down to thc cghtccnth ccntury, thc dcrcnt tradcs wcrc
calIcd mystcrcs` (m]:/crc:), nto whosc sccrcts nonc but thosc
ntatcd by thcr protcsson and thcr practcaI cxpcrcncc couId
pcnctratc. Largc-scaIc ndustry torc asdc thc vcI that conccaIcd
trom mcnthcrownsocaIproccss otproducton and turncdthc
varousspontancousIydvcdbranchcsotproductonntorddIcs,
notonIytooutsdcrsbutcvcntothcntatcd.(66)
cmodcrnscicnccottcchnoIogycntailcdavcritabIcrcvoIutioninour
mcntaI conccptons otthcworId."Jhc varcd, apparcntIy unconncctcd
andpctrhcdtormsotthcsocaIproductonproccsswcrcnowdssoIvcd
nto conscous and pIanncd appIcatons otnaturaI sccncc, dvdcd up
systcmatcaIIyn accordanccwththcpartcuIarusctuIccctamcdat n
cachcasc`(66-;)
JcrcsuItwasanndustralrcvoIutonncvcryscnscotthctcrm.
odcrnndustrynccricws ortrcatsthccxistngtorm otaproducton
proccss asthcdcntconc.ItstcchncaIbass sthcrctorcrcvoIutonary,
whcrcas aII carIcr modcs ot producton wcrc csscntalIy conscrvatvc.
y mcans ot machncry, chcmcal proccsscs and othcr mcthods, t s
contnualIytranstormng not onIthc tcchncaI bass otproducton but
alsothctunctionsotthcworkcrndthcsocalcombinatonsotthcIabour
proccss.t thc samc tmc, t thcrcby also rcvoIutonzcs thc divison ot
labour wthn soccty, and nccssantly throws masscs ot captal and ot
workcrs trom onc branch ot producton to anothcr. Tus Iargc-scaIc
ndustry, byts vcry naturc, ncccsstatcs varaton ot Iabour, udty ot
tunctons,andmobItyotthcworkcrnalldrcctons.(6;)
Js ncccssty gcncratcs a major contradcton. n thc ncgatvc sdc,
Iargc-scaIcndustry"rcproduccsthcoIddvsonotIabourwthtsosscd
partcuIartcsand"docsawaywthaIIrcposc,aIIhxtyandaIIscurtyas
tar asthcworkcr`s Itc-stuatons conccrncd, . . . t constantIythrcatcns,
bytakng away thc nstrumcnts otIabour,to snatchtromhshandsthc
mtcniNrk\ tNo ttkcr-scttr tNous+kv 2j 1
mcans`Js rcsuIts"n thc rcckIcss sguandcrng otIabourpowcrs,and
nthcdcvastatngccctsotsocaIanarchy6;-8) .8utthcnthcrcsthc
postvcsdc.
gc-scaIcndustry,throughtsvcrycatastrophcs,makcsthcrccognton
otvaraton ot Iabour and hcncc ot thc htncss ot thc workcr tor thc
maxmumnumbcrotdcrcntkndsotIabournto aucstonotItcand
dcath. Ths possbIty otvaryng Iabour must bccomc acncraI Iaw ot
socaI producton, and thc cxstng rcIatons must bc adaptcd to pcrmt
ts rcaIzaton n practcc. That monstrosty, thc dsposabIc workng
popuIaton hcId n rcscrvc, n mscry, torthc changng rcurcmcnts ot
captaIst cxpIotaton, must bc rcpIaccd by thc ndvduI man who s
absoIutcIyavaIabIctor thc dcrcntkndsotIabourrcurcdothm,thc
partaIIydcvcIopcdndvduaI,whosmcrcIythcbcarcrotoncspccaIzcd
socaItuncton,mustbcrcpIaccdbythctotaIIydcvcIopcdndvduaI,tor
whom thc dcrcnt socaI nctons arc dcrcnt modcs ot actvty hc
takcsup nturn.(68)
CaptaIsm rcgurcs udty and adaptabIty otIabor, an cducatcd and
wcII-roundcd Iabor torcc, capabIc otdong muItpIc tasks and abIc to
rcspondcxbIytochangngcondtons.HcrcnIcsadccpcontradcton.
on thc onc hand, captaI wants dcgradcd Iabor,unntcIIgcntIabor, thc
cguvaIcnt ota trancd gorIIa to do captaI`s bddngwthout gucston,
at thc samc tmc as t nccds ths othcr knd othcxbIc,adaptabIc and
cducatcd Iabor, too. How can ths contradcton bc addrcsscd wthout
gvng rsc to "rcvoIutonary tcrmcnts 6p), partcuIarIywhcn t wouId
bc dcuIt tor ndvduaI captaIsts, ntcnscI pursung thcr own scIt
ncrcstandmpcIIcdbythccoccvcIawsotcompctton,toactont
nccoIIcctvccIassanswcrIaynthccducatonaIcIauscsnscrtcdnto
thcFactoryActs.Such cIauscswcrcnotncccssarIyntorccd,Marxnotcs,
partcuIarIy n thc tacc otnvduaI captaIst rcsstancc.NcvcrthcIcss,
thc tact that thc cIauscs wcrc dccmcdncccssaryn a statc whch, aswc
carIcr notcd,was govcrncd by captaIsts and IandIords s sgnhcant.
!t suggcstcd that"tcchnoIogcaI cducatontorthc workng cIass,"both
thcorctcaIandpractcaI,wIItakcts propcrpIacc n thc schooIs otthc
workcrs.`Agan:
TcrcsaIsonodoubtthatthoscrcvoIutonarytcrmcntswhoscgoaIsthc
aboItonotthc oId dvson otIabour standn damctrcaIcontradcton
z{ z t comrtNioN fo mtkx:s CAPI7AI
wththccaptaIsttorm otproducton,andthccconomcstuatonotthc
workcrswhchcorrcspondstothattorm.
omarkwcIIthcdcvcIopmcntotthcsc sortsot"contradctonsotagvcn
hstorcaItormotproductonsthconIyhstorcaIwaynwhchtcanbc
dssoIvcdandrcconstructcdonancwbass6).
Jc dcvcIopmcnt ot ths tundamcntaI contradcton s crucaI to
undcrstandng transtormatons nthc rcproducton otthc Iabor torcc.
Largc-scaIcndustrypIaysanmportantroIcn"ovcrturnngthccconomc
toundatonotthcoIdtamIysystcm,andthctamIyIabourcorrcspondng
to t` !t has"aIso dssoIvcd . . . oId tamIy rcIatonshps` rcvoIutonzcd
rcIatonshps bctwccn parcnts and chIdrcn and curbcd thc msusc ot
parcntaIpowcrthatarscsthroughthcgangsystcm.Jc captaIstmodc
ot cxpIotaton by swccpng away thc cconomc toundaton whch
corrcspondcdtoparcntaIpowcr,madcthcusc otparcntaIpowcrntots
msusc6zc). 8ut,
howcvcrtcrrbIcanddsgustngthcdssoIutonotthcoIdtamIytcswthn
thc captaIst systcm may appcar, Iargc-scaIc ndustry, by assgnng an
mportantpart nsocaIIyorganzcdproccsscsotproducton,outsdcthc
sphcrcotthcdomcstccconomy, towomcn,young pcrsonsandchIdrcn
otboth scxcs,docs ncvcrthcIcsscrcatcancw cconomc toundaton tora
hghcrtormotthctamIyandotrcIatonsbctwccnthcscxcs.6z-)
!tsobvous,MarxconcIudcs,
thatthctactthatthccoIIcctvcworknggroupscomposcdotndvduaIs
otbothscxcsandaIIagcsmustundcrthcappropratccondtonsturnnto
asourccothumancdcvcIopmcnt,aIthoughntsspontancousIydcvcIopcd,
brutaI,captaIsttorm,thcsystcmworksnthcoppostcdrccton.(6z)
Jc gucst tor hudty, tIcxbIty and adaptabItyotIaborrcvoIutonzcs
thc tamIy aswcII as rcIatons bctwccn thc scxcs Prcssurcs otths sort
contnuc to bcwth us, at thc samc tmc that thc ncgatvc sdc ot thc
contradctonMarxhcrc dcnthcs contnucs tobcomnprcscnt.Jss,
wc shouId concIudc, a pcrmancnt rathcr than transtory contradcton
wthnthchcartotcaptaIsm.
o what wc suddcnIy cncountcr at thc cnd otths Iong chaptcr, tuII
ot ncgatvc magcry, arc somc postvc and rcvoIutonary potcntaItcs
mtcni Nrkv tNo ttkcr-scttr tNous+kv 2j j
tor thc cducaton otthc workng cIasscs and a radcaI rcconhguraton
wth thc ad otstatc powcr) n ts condtons otrcproducton. CaptaI
nccds hudty otIabor and thcrctorc has to cducatc thc Iaborcrs whIc
brcakngdown oIdpatcrnaIstc,patrarchaIrgdtcs.Jcscdcasarcnt
rcaIIywcII workcd out n Marxs tcxt. 8ut t's ntcrcstng that hc wouId
hndt mportant to nscrt thcm ntoths account. Andnthc samcway
that thc poItcs otthc workng day was dcrvcdto savc captaI trom ts
scIt-dcstructvctcndcnccs,hcrc,too,thatpoItcs contansthckcrncIota
workng-cIasspoItcstoovcrthrowthcwhoIccaptaIstsystcm.
Js brngs Marx, ahcr aIcngthyand dctaIcdrcvcwotthc Factory
Acts,to hs concIuson, nwhchoncc agan hc hrtswth atcIcoIogcaI
tormuIaton:
ItthcgcncraIcxtcnsonottactoryIcgsIatontoaIItradcstorthcpurposcot
protcctngthcworkngcIassbothnmndandbodyhasbccomcncvtabIc,
on thc othcrhand,aswchavcaIrcadypontcd out,that cxtcnsonhastcns
onthcgcncraIconvcrsonotnumcroussoIatcdsmaIIndustrcsntoatcw
combncdndustrcscarrcd on uponaIargc scaIc,tthcrctorcacccIcratcs
thcconccntratonotcaptaIandthccxcIusvcprcdonanccotthctactory
systcm. It dcstroys both thc anccnt and thc transtonaI torms bchnd
whchthc domnon otcaptaI s stIIpartaIIyhddcn,andrcpIaccsthcm
thadomnonwhchsdrcctandunconccaIcd.8utbydongthstaIso
gcncraIzcs thc drcct struggIc aganst ts ruIc.hIc n cach ndvduaI
workshoptcntorccsuntormty,rcguIarty,ordcrandcconomy,thcrcsuItot
thcmmcnscmpctusgvcntotcchncaImprovcmcntbythcImtatonand
rcguIaton otthcworkngdaystoncrcascthcanarchyandthcproncncss
to catastrophc ot capitaIist production as a vhoIc, thc intcnsity ot Iabour,
and thc compctton ot machincry vith thc vorkcr. y thc dcstruction
ot smaII-scaIc and domcstc ndustrcs t dcstroys thc Iast rcsorts ot thc
rcdundant popuIato, thcrcby rcmovng what was prcvousIy a satc
vaIvctorthcwhoIcsocaImcchansm.8ymaturngthcmatcraIcondtons
and thc socaI combnaton ot thc proccss otproducton, t maturcs thc
contradctonsandantagonsmsotthccaptaIsttorm otthatproccss,and
thcrcbyrpcnsboththccIcmcntstortormngancwsocctyandthctorccs
tcndngtowardsthcovcrthrowotthcoIdonc.(6])
Sccton 1O, "Largc-ScaIc !ndustryand AgrcuIturc,brngs"thc rcIaton
otman to naturcback nto thc pcturc,makng, as t wcrc, a brctbut
mportant camco appcarancc n thc ovcraII argumcnt."!n thc sphcrc ot
z{( t comrtNioN fo mtkx:s CAPI7AI
agrcuIturc,`Marx cIams,"Iargc-scaIc ndustryhasamorcrcvoIutonary
chcct than cIscwhcrc,` n part bccausc "t annhIatcs thc buIwark ot
thc oId soccty, thc`pcasantandsubsttutcs torhmthcwagcIabourcr,`
whchnturngcncratcscIassconhctnthccountrysdc.Jccxtcnsonot
ratonaIsccnthcprncpIcstoagrcuIturcsmuItancousIyrcvoIutonzcs
rcIatons bctwccn agrcuIturc and manutacturng and crcatcs thc
matcraI condtons torancwandhghcrsynthcssbctwccnagrcuIturc
andndustry.8utthspotcntaIIypostvcoutcomcoccurs atthccxpcnsc
otdsturbng
thcmctaboIcntcractonbctwccn manandthccarth,.c.tprcvcnts thc
rcturntothcsoIottsconsttucntcIcmcntsconsumcdbymannthctorm
ottoodandcIothng,hcnccthndcrsthcopcratonotthcctcrnaInaturaI
condtontorthcIastngtcrtItyotthcsoI.(6];)
JsprobIcm s cxaccrbatcdbyncrcasngurbanzaton.`IIprogrcssn
captaIstagrcuIturc,`MarxconcIudcs,
saprogrcssnthcart,notonIyotrobbngthcworkcr,butotrobbngthc
soI,aIIprogrcssn ncrcasngthctcrtItyotthc soItoragvcn tmcsa
progrcss towards runngthcmorcIong-Iastngsourccs otthat tcrtIty.
TcmorcacountryprocccdstromIargc-scaIcndustryasthcbackground
otts dcvcIopmcnt,as n thc casc otthc ntcd Statcs,thc morc rapd s
thsproccssotdcstructon.aptaIstproducton,thcrctorc,onIydcvcIops
thc tcchngucs and thc dcgrcc ot combnaton ot thc socaI proccss ot
producton by smuItancousIy undcrmnng thc orgnaI sourccs ot aII
wcaIth-thc soI andthcworkcr.()
Jc rcIatonshps bctwccn tcchnoIogy, naturc, thc producton and
rcproducton otItc takc a ncgatvc turn cvcn as rcvoIutons n mcntaI
conccptons and socaI rcIatons opcn up postvc possbItcs. Marx
docs not advocatc gong back to a soccty whcrc producton proccsscs
wcrc"m]:/crc:.' Hc pIanIybcIcvcsthatthc appIcaton otsccncc and
tcchnoIogy can havc progrcssvc mpIcatons. 8ut thc bg probIcm n
thschaptcrstohgurcoutwhcrc,cxactIy, thcscprogrcssvcpossbItcs
mghtIcandhowthcycanbcmobIzcdnthcgucsttocrcatcasocaIst
modc otproducton.Marx,whIchc docs not soIvcthsprobIcm,poscs
tandtorccsustorchcctont.1cchnoIogcaIandorganzatonaIchangcs
arc not a dcu: cx muchinu, but dccpIy cmbcddcd n thc cocvoIuton ot
mtcuiNrk\ tNo ttkcr-scttr iNous+k\ 2)
our rcIaton to naturc, proccsscsotproducton, socaI rcIatons, mcntaI
conccptons otthc worId and thc rcproducton ot daIy Itc. AII thcsc
"momcnts gct combncd n ths chaptcr, somc tar morc promncntIy
thanothcrs.JschaptcrcanandshouIdbcrcadasancssayonthnkng
throughthcscrcIatons.8utthcscnscotmcthodthatthcnarscspcrmts
anntcrrogatonotMarx'sargumcntonMarx'sowntcrms.
CHAPTER NI NE
tOm O8Ou!C 8nO C8!VC but
[
u8-
N8uC !O !HC CCumu8!On OI L8
[
!8
ConsdcrabIc attcnton has bccn pad n thc prcccdng chaptcrs to
thc varous ways n whch rcIatvc and absoIutc surpIus-vaIuc can bc
procurcd.Whcn Marx scts up a conccptuaI bturcaton otths knd,hc
nvarabIy brngs thc duaIty back nto a statc otunty hnaIIy, thcrc s
onIyoncsurpIus-vaIuc,andtstwotormsarccondtonaIoncachothcr.H
wouIdbcmpossbIcto ganabsoIutcsurpIus-vaIucwthoutanadcguatc
tcchnoIogcaIandorganzatonaIbass.ConvcrscIy,rcIatvcsurpIus-vaIuc
wouIdhavc no mcanngwthout a Icngth otworkng day that aIIowcd
thc appropraton ot absoIutc surpIus-vaIuc. Jc dhcrcncc s onIy onc
otcaptaIst stratcgythat"makcstscIttcIt whcncvcrthcrcs agucston
ot rasng thc ratc ot surpIus-vaIuc 6(6). As usuaIIy happcns whcn
Marxmovcstoapont otsynthcss,cboth hghIghts matcraIs aIrcady
prcscntcdandtakcsthcmtoadhcrcntvantagcpontwhcncctspossbIc
to sccthctcrranotcaptaIsm n a novcI way. Jc ncwpcrspcctvcs n
chaptcr6havcbccnmorcthanaIttIc controvcrsaI,andthcythcrctorc
caIItorcarctuIscrutny.
Consdcr,hrst,thc conccpt ot thc coIIcctvcIaborcr,aIrcadyappcaIcd
to scvcraI tmcs n carIcr chaptcrs. urpIus-vaIuc s no Iongcr sccn as
an ndvduaI rcIatonshp otcxpIotaton but as part ota Iargcr whoIc
nwhch Iaborcrs, n coopcraton and sprcad across thc dctaI dvson
ot Iabor, coIIcctvcIy producc thc surpIus-vaIuc that thc captaIsts
appropratc. Jc dcuIty wth ths conccpt s to dchnc whcrc thc
coIIcctvcIaborcrbcgnsandcnds.JcsmpIcstwaywouIdbctotakc,say,
thctactoryasawhoIcanddcsgnatccvcryoncn t,ncIudngthccIcancrs,
jantors,warchouscmanagcrs andcvcntranccs,aspartotthccoIIcctvc
Iaborcr,cvcnthoughmanyworkcrsotthssortpIaynodrcctpartnthc
actuaIproductonotcommodtcs.
nordcrtoworkproductvcIy,tsnoIongcrncccssarytorthcndvduaI
hmscIttoputhshandtothc objcct,tssuccnttorhmtobcanorgan
z{ 8 t comrtNioN fo mtkx:s CAP7AI
ot thc coIlcctvc Iabourcr, and to pcrtorm any onc otts subordnatc
tunctons.(6(()
8ut a Iot otIabor docs nottakcpIacc n tactorcs, and thc tcndcncyn
rcccnt tmcs has bccn to rcsort to outsourcng and subcontractng
bchnd whch Ic cvcn othcrsubcontractors.Andwhatdo wc sayabout
advcrtsng,markctng anddcsgntunctons aswcII asbusncss scrvccs
thatarc csscntaI to thc scIIng otcommodtcs but arc usuaIIybut not
aIwaysscparatcdtrommmcdatcproductonactvtcsrdowcconhnc
ourscIvcs soIcIy to actvtcswthn thc tactory Jc cxact dchnton s
hard to comc by, and thcrc sccms to bc no cxact soIutonhcncc thc
controvcrsy.8utwthoutthchcIp otsuch aconccpt,twouIdbc dcuIt
to makc thc movc toward a morc macro-thcorctc approach to thc
dynamcsotcaptaIsm.oMarxpIowsahcad,asscrtngthatthcanaIyss
sotar"rcans corrccttorthccoIIcctvcIabourcr,consdcrcdasawhoIc`
cvcnastnoIongcrhoIdsgoodtorcachmcmbcrtakcnndvduaIIy`
Jc sccond movc s to contrast ths broadcnng otthc dchnton ot
productvc Iabor wth a narrowng ot ts compass such that "thc onIy
workcr who s productvc s onc who produccs surpIus-vaIuc tor thc
captaIst` 1o dcpct cvcryonc cIsc as "unproductvc rsks an cmotvc
rcacton bccausc t sounds Ikc a sIur on aII thosc who work cxtrcmcIy
hard to makc cnds mcct. 8ut, as Marx hastcns to pont out, undcr
captaIsm,to bc a productvc workcr s thcrctorc not a pccc otIuck,
but a mstortunc 6(().Marx's noton ot"productvc s not normatvc
or unvcrsaI, but a dchnton hstorcaIIy spcchc to captaIsm. As tar
as captaI s conccrncd,thosc who do not contrbutc to thc producton
ot surpIus-vaIuc arc consdcrcd nonproductvc. Jhc task tor socaIsm
wouIdthcrctorcbctorcdchnc"productvcnamorcsocaIIyrcsponsbIc
andbcnchcaImanncr.
8utcvcnwthnthccontcxtotcaptaIsm,thcrcarcIcgtmatcchaIIcngcs
on thc ssuc othow"productvc mght bc dchncd. Fcmnsts havc Iong
argucd, tor cxampIc, that unpad domcstc Iabor rcduccs thc markct
vaIuc otIaborpowcr and s thcrctorc productvc otsurpIus-vaIuc torthc
captaIst.Marxdocsnotaddrcssthsssuc,buthcdocstakcupthcgucston
otthc supposcdIy"naturaIbassotproductvty,andhsanaIyssprovdcs
somc cIucs as to how hc mght havc approachcd somc ot thcsc othcr
gucstons.Productvty,hcconccdcs,canbc"tcttcrcdbynaturaIcondtons
oradvantagcd bccausc"thcgrcatcrthcnaturaItcrtItyotthc soIandthc
sukrtus-vttur tNo tccumuttfioN z
kndncssot thccImatc,thcsmaIIcrthcamountotIabour-tmcncccssarytor
thc mantcnancc and rcproductonotthc produccr.'A othcrthngsbcng
cguaI,"thc guantty otsurpIus Iabour wvaryaccordngto thc naturaI
condtonswthn whch Iabour s carrcd on,n partcuIar thctcrtItyot
thcsoI6;-8). Jcrcsnorcasonnottosay,thcrctorc,thatsurpIusIabor
wcguaIIyvaryaccrdngto thc socaIcondtons c.g.,thc productt
ottamIyIabor).WcIcavcasdcsomc oddpassagcs thatccho nnctccnth
ccnturythnkng on cnvronmcntaI dctcrmnsm and thc domnaton ot
nrc"whcrcnaturcstooprodgaIwthhcrghs,shc`kccpshmnhand
Ikc a chId n Icadng strngs'), Marx thcn concIudcs that "tavourabIc
naturaI to whch wc mght now add socaI) "condtons canprovdc n
thcmscIvcs onIythc possbIty, ncvcr thc rcaItyotsurpIus Iabour,nor . .
.thc rcaItotsurpIus-vaIuc anda surpIusproduct6p-c).Jat s,thc
dynamcrcIatontonaturcortodaIyItccondtonsandhouschoIdIabor)
torms ancccssarybutnotsuccntbackdropto thc socaIproccsscs and
cIassrcIatonswhcrcbysurpIus-vaIucscrcatcdandappropratcd.
Marx urgcs us to rccognzcthat thc"captaI-rcIaton arscs out otan
cconomcsoIthatsthcproductotaIongproccssotdcvcIopmcnt,`such
that thc prouctvty otIabor "s a gh, not ot naturc, but ota hstory
cmbracng thousand ot ccnturcs 6;). Furthcrmorc, hc rcmnds us,
"bctorc thcIaborcr spcnds Icsurctmc n surpIus Iabourtorothcrs,
compuIson s ncccssar' And thc uItmatc rony s that "both thc
hstorcaIIydcvcIopcdproductvctorccs. . . andtsnaturaIIycondtoncd
productvc torccs,appcar as productvctorccs otthc captaI nto whch
that Iabour s ncorporatcd 6) . hc crux ot thc mattcr tor Marx,
rghtIy or wrongIy aIways Ics n thc spcchc conhguraton ot surpIus
vaIucappropratonycaptaItromIaornthcmatrxotcIcmcntsthat
dchncthctotaItyotancvcr-cvoIvngcaptaIstmodcotproducton.Had
hc addrcsscd thc ssuc,aImost ccrtanIyMarxwouIdhavc takcnup thc
travaIs otdomcstcIabornthc samcwayashctrcatsotthcrcIatonto
naturchntcdatnhstootnotconpagc8).
Jctwo movcs,otbothbroadcnng and narrowngthc dchnton ot
productvcIabor,arcnotndcpcndcntotcachothcr.1akcntogcthcr,thcy
hcIp Marx movc trom an ndvduaI mcro-pcrspcctvc, n whch thc
domnantmagcsotthcndvduaIworkcrbcngcxpIotcdbyapartcuIar
captaIstcmpIoycr,toamacro-anaIyssotcIassrcIatonsnwhchtsthc
cxpIotatonotonccIassbyanothcrcIassthattakcsccntcrstagc.JscIass
pcrspcctvcsgongtodomnatcnthcrcmanngchaptcrs.
z
(
o t comrtNioN fo mtkx s CAPI7AI
!ntcrcstngIy, aII torms ot cconomc thcory cncountcr probIcms
ot somc sort n movng trom a mcro- to a macro-thcorctcaI tcrran.
8ourgcospoItcaIcconomyhadnowayto makcthcmovcsnccthad
andstIIhas)nothcoryotthcorgnsotsurpIus-vaIuc. Rcardognorcd
thcprobIcmcntrcIyandwhIcJohnStuartMIIatIcastrccognzcdthatt
hadsomcthngtodowthIaborhccouIdnotdcntpcxactIywhatbccausc
hccouId notsccthc dhcrcnccbctwccnwhatIaborgcts andwhatIabor
makcs. AIas poor MII:"on aIcvcI pIan' scohs Marx,"smpIc mounds
IookIkc hIIs, and thc nspd tIatncss otour prcscnt bourgcosc s to
c mcasurcd by thc aIttudc ottsgrcat ntcIIccts' (6() . WhIc Marx's
thcoryotsurpIus-vaIucdocstacItatcthcmovc,thcwayhcdocst,aswc
havcsccn,snotabovccrtcsm.8utwc,too,havctopIowonn ordcrto
harvcstthctrutsothsthnkng.
Jc toIIowng two chaptcrs do not posc any substantaI ssucs. !n
chaptcr 1, aII that arx docs s to rccognzc that surpIus-vaIuc wII
vary accordng to thrcc varabIcs: thc Icngth otthc workng day,thc
ntcnsty ot Iabor and thc productvty ot Iabor, so that captaIsts
havc, n chcct, thrcc stratcgcs thcy can dcpIoy. Jnc dmnuton ot
possbItcs on onc dmcnson can bc compcnsatcd tor by rcsort to
anothcr.JcundcrIyng pont s to cmphaszc,as Marx so ohcn docs,
thchcxbItyotcaptaIst stratcgcs nthcscarchtor surpIus-vaIuc. t
thcycannotgct t thsway byncrcasng ntcnsty) thcnthcywII gct
t that way by ncrcasng thc hours otIabor) . ! cmphaszc ths pont
bccauscMarxssoohcndcpctcdasargdthnkcropcratngwthrgd
conccpts.Chaptcr8mcrcIygocsovcronccagan ) varoustormuIac
torntcrprctngthcratcotsurpIus-vaIuc.JncrcsaIototrcpcttonot
ths sort n Cui/u/. !t somctmcs rcads as tMarxsncrvousthatwc
havcnotgucgotthcpont,sohctccIsconstrancdtorcpcattjustto
makcsurc.
CHAPTERS 122. WAGES
Jncshortchaptcrsonwagcs,chaptcrsp-zz,arcrcIatvcIyscIt-cxpIanatory.
Conscgucnccs tIow, as mght bc cxpcctcd, trom thc tact that t s thc
rcrc:cn/u/ion n moncy-torm-wagcs-rathcr than thcvaIuc otIabor
powcrthatprovdcsthchcIdotsocaI acton.JnsmmcdatcIyposcsthc
probIcmotthctctshmaskthathdcssocaIrcIatonsbcncaththctcrmcnt
otrcprcscntatonaIpoItcs.Marxbcgns,hocvcr,byrcmndngusthat
sukrtus-vttur tNo tccumuttfioN 2q1
thcrc s a hugc dhcrcncc bctwccn "thc vaIuc otIabor thc tcrm that
cIasscaIpoItcaIcconomstsuscdand"thcvaIucotIabor-powcr`
H s not IabourwhchdrcctIycontrontsthc posscssorotmoncy on thc
commodty-markct,butrathcrthcworkcr.hatthcworkcrsscIIngshs
Iabour-powcr.As soon ashs IabouractuaIIybcgns,thasaIrcadyccascd
tobcIongtohm,tcanthcrctorc noIongcrbcsoIdbyhm.Laboursthc
substancc,andthcmmancntmcasurcotvaIuc,butthasnovaIuctscIt.
1o thnk othcrwsc s to cngagc n a tautoIogy,n chcctto spcakotthc
vaIucotvaIuc.
!n thc cxprcsson `vaIuc ot Iabour', thc conccpt ot vaIuc s not onIy
compIctcIy cxtngushcd,but nvcrtcd, so that t bccomcs ts contrary. H
s an cxprcssonas magnaryasthcvaIuc otthc carth.Tcscmagnary
cxprcssons arsc, ncvcrthcIcss, trom thc rcIatons ot producton
thcmscIvcs.Tcy arc catcgorcs torthc torms otappcarancc otcsscntaI
rcIatons. at n thcr appcarancc thngs arc ocn prcscntcd n an
nvcrtcd way s somcthng tarIy tamIar n cvcry sccncc, apart trom
poItcaIcconomy. 6)))
nothcrwords,thcvaIucotIaborsatctshconccptthatdsguscsthcdca
otthcvaIucotIabor-powcrandthcrcbyconvcncntIycvadcsthccrucaI
gucstonastohowIabor-powcrbccamcacommodty.
Jc onIy way n whch cIasscaI poItcaI cconomy coud rcsoIvc thc
probIcm otwhat twas that hxcd what t ncorrcctIycaIIcdthc vaIuc ot
Iaborwas toappcaIto thc doctrncotsuppIyand dcmand.Js doctrnc
h8S I68QQ68I6u S6V6I8 !IH6S IB C/||,Du! N8IX IS 8! hIS H0S! 6XQICI!
hcrcnrcjcctngtscxpIanatoryvaIuc.vcncIasscaIpoItcaIcconomy
oon rccognzcd that changcs n thc rcIaton bctwccn dcmand and
suppIycxpIancdnothng,wthrcgardtothc prcc otIabour orany othcr
commodty, cxccpt thosc changcs thcmscIvcs, .c. thc oscIIatons ot
thc markct prcc abovc or bcIow accrtan mcan. !t dcmand and suppIy
baIancc,thcoscIIatonotprccsccascs,aIIothcrcrcumstanccsrcmanng
thc samc. 8ut thcn dcmand and suppIy aIso ccasc to cxpIan anythng.
Tc prcc ot Iabour, at thc momcnt whcn dcmand and suppIy arc n
cguIbrum,stsnaturaIprcc,dctcrmncdndcpcndcntIyotthcrcIaton
otdcmandandsuppIy. 6))
2q2 t comrtNioN fo mtkx: s CAP7AI
JhsndcpcndcntdctcrmnatonMarxhasaIrcadydchncdnhsanaIyss
otthc buyng and scIIng otIabor-powcr. !t s hxcd by thc vaIuc otthc
commodtcs nccdcd to rcproducc thc workcr at a gvcn standard ot
Ivng n a gvcn soccty at a gvcn tmc. Contnungto taIkabout thc
vaIucotIabornstcadotthcvaIucotIabor-powcrIcadsntoaIIknds ot
contusons.SoMarxthcntrcstocIarpmattcrsbyohcrngonccmorc )
ausctuIbrctrsumotthcthcoryotsurpIus-vaIuconpagc6;p.
8utthcIaborcrcanbcrcmuncratcdndhcrcntways-bythchour,thc
day,thcwcckorthcpccc.Chaptcr zc sabouttmcwagcsandhowthc
tmc-wagcsystcmworks.JncrcsnothngvcryprobIcmatchcrc,cxccpt
wcmustrcmnd ourscvcsthatthcwaynhchthssbcngworkcdout
nthcmarkctdsguscsthcundcrIyngsocaIrcIaton.Chaptcrzsabout
pcccwagcs,thcadvantagcotwhchtor thccaptaIststhatworkcrscan
bctorccdtocompctcwthoncanothcrntcrmsotndvduaIproductvty.
Eccssivccompctitionbctwccnworkcrsdrivcsproductivityupandwagcs
down,gutcpossbIybcIowthcvaIucotIabor-powcr.nthcothcrhand,
compctton bctwccn captaIsts s IkcIy to drvcwagcs upward.So wc
cnd up oncc morc wth thc dca that thcrc s somc cguIbrum pont
whcrccompcttonbctwccncaptaIstsandcompcttonbctwccnworkcrs
s producng an acuaI wagc n thc markctwhch adcguatcIyrcprcscnts
thcvaIucot Iabor-powcr.
Jncscctononwagcs cuImnatcs nchaptcrzz,wthan cxamnaton ot
natonaIdhcrcnccsnwagcs.Marhcrcbrchydcparts tromhstcndcncy
toanaIyzccaptaIsmasttwcrcacIoscdsystcm.Jncrcsanopcnnghcrc
tocxamncuncvcngcographcaIdcvcIopmcntnagIobaIzngsystcm.8ut
thctrcatmcnt stoobrctto go tar. !tthcvaIucotIabor-powcrscdby
thcvaIucotthcbaskctotcommodtcsnccdcdto supportthcIaborcrata
gvcn standard otIvng, and tthatstandardvarcsaccordngto naturaI
condtons, thc statc ot cIass struggIc and thc dcgrcc ot cvIzaton n a
country,thcnpIanIythcvaIucotIabor-powcrstandstovarygcographcaIIy
trom country to country, n ths casc) n sgnhcant ways. Jnc hstory
ot cIass struggIc n crmany s dhcrcnt trom that n 8rtan or Span,
tor campIc, and so thcrc arc natonaI dhcrcnccs n wagcs actuaIIy,
thcrc arc

ohcn sgnhcant rcgonaI dhcrcnccs, too, but Marx docs not

consdcrthathcrc).SmIarIy,varatonsnproductvtynthoscndustrcs
that arc producng wagc goods n dhcrcnt parts ot thc worId producc
dhcrcntatonsnthcvaIucotIabor-powcrandwagcratcs.AIownomnaI
wagcnahghIyproductvccountrytransIatcsntoahghcrrcaIwagc,and
sukrtus-vttur tNo tccumuttfioN 2qj
vcc vcrsa, bccausc workcrs command morc goods wth thc wagcs thcy
rcccvcthsswhatsnowrctcrrcdtoaspurchasng-powcrparty).Sowhat
happcns totradcbctwccn countrcs undcr thcsc condtons,andhowwII
compctton bctwccn thc dhcrcnt countrcs work Marx docs not probc
dccpIyntothcgucston,sncchcmanIysccmsntcrcstcdnhowrcaIwagcs
and nomnaI wagcs dhcrprmarIybccausc otvaratons n productvty
n thc

agc-goods ndustrcs n thc dhcrcnt countrcs.Jc rcsuIt wIIbc

contrastng dynamcs bctwccn countrcs tor thcsc wcrc Marxs unts ot
comparson) nhowcaptaIsm dcvcIops andhowsurpIus-vaIuc s bcng
pursucd stratcgcaIIy and cxtractcd.AImost ccrtanIy ths wouId Icad, t
Marx had takcn thc mattcr mrthcr, to a scrous gucstonng otRcards
doctrnc otcomparatvc advantagc n torcgn tradc,but tor somc rcason
MarxchoscnottopursucthatIncotargumcntturthcrhcrc.!havctosay!
hndthardtogctcxctcdaboutthcscchaptcrsonwagcs,snccthcdcasarc
tarIyobvous andthcwrtng rathcrpcdcstran.
PART VII THE PROCESS OF ACCUMULATION OF CAPITAL
Part ;, howcvcr, s mmcnscIy ntcrcstng and nsghttuI, tor tshcrc
thatMarxtakcsup"JcProccssotAccumuIatonotCaptaIasawhoIc.
Hc hcrc constructswhatmght bcst bc caIIcd a"macro-anaIyss otthc
dynamcsotacaptaIst modc otproducton.Jhss,ungucstonabIy,thc
cuImnatng argumcntotVoIumc!otCui/u/. AwhoIcbattcryotcarIcr
nsghts arc brought togcthcr to crcatcwhat wc wouId nowcaII a scrcs
ot"modcIsotcaptaIst dynamcs.!t svtaI,howcvcr, nrcadngpart ;
to bcar n mnd thc naturc otthc assumptons. Marx's concIusons arc
B0! uBIV6IS8 S!8!6m6B!S Du! C0B!IBg6B! BBuIBgS, D8S6u 0B 8Bu ImI!6u
by hs assumptons.Wctorgct ths at our pcrI. Jcrc arc tar too many
commcntarcs on Marx's work, both tavorabIc and untavorabIc, that
passovcrnto scrous msntcrprctatonbccausc thcyncgIcctthcmpact
oths assumptons. nc otthc most tamous thcscs advanccd hcrc, tor
cxampIc, s that ot thc tcndcncytoward thc ncrcasng mmscraton ot
thc proIctarat and thc produton ot cvcr grcatcr cIass ncguaIty. Js
thcssscontngcntonMarx'sassumptons,andwhcnthoscassumptons
arc rcIaxcd or rcpIaccd, thc thcss docs not ncccssarIy hoId. ! gct
cxtrcmcIyrrtatcdwthattcmptstoprovcordsprovcMarx'shndngsn
thcscchaptcrsasthcwcrcscttngouthsconcIusonsasunvcrsaItruths
rathcrthanascontngcntpropostons.
2qq t comrtNioN fo mtkx
:
s CAP7AI
Marxspcchcsthcassumptonsnthcprctacctopart.cstatcsthat
thc hrst condition ot accumuIation is that thc capitaIist must havc
contrvcd to scII his commodtcs, and to rcconvcrt into capitaI thc
grcatcrpartotthcmoncyrcccvcdtrmthcirsaIc.InthctoIIowingpagcs,
wcshaIIassumcthatcapitaIpasscsthroughitsproccssotcircuIationin
thc normaIway Tc dctaiIcd anaIysis otthc proccss wiIIbc tound in
oIumcz.(;op)
ncmpIcaton ot"thc normaIwaysthat captaIstshavc noprobIcm
scIIng thcr goods at thcr vaIuc n thc markct or rccrcuIatng thc
surpIus-vaIucthcyganbackntoproducton.AIIcommodtcsthcrctorc
tradc at thcr vaIuc. Jcrc s no ovcrproducton or undcrproducton,
cvcrythng s tradcd n cguIbrum. !n partcuIar,thcrc s no probIcm
IB BBuIBg d HdIK0!. J0I0 IS B0V0I dBj dCK 0 0H0C!IV0 u0HdBu. S !hIS d
rcasonabIc assumpton Jc answcrs,notat aII,torwcruIcout onc ot
thcmajoraspcctsotcrsstormatonthat,torcxampIc,domnatcdnthc
rcatOcprcssonotthcp]csandbccamcccntraIn Kcyncsanthcorcs,
.c.,thcIackotchcctvc dcmand.Marxabandoncdthcscassumptonsn
IatcrvoIumcs,butnthcncxtthrccchaptcrs,hchoIds rgorousIytothcm.
oIdngchcctvcdcmandtooncsdcpcrmtsMarxtodcntpaspcctsot
thccaptaIstdynamcthatmghtothcrwscrcmanopaguc.
Jcsccondassumptonsthatthc dvson otthc surpIus-vaIucnto
proht otcntcrprsc thc ratc otrcturn on ndustraI captaI),proht on
mcrchantcaptaI,ntcrcst,rcntandtaxcsMarxdocsnotncIudcthcIattcr
hcrc) has no chcct. !n practcc, captaIst produccrs havc to sharc part
otthcsurpIus-vaIuccrcatcdandappropratcdwth captaIstswhotuIhII
othcrtunctons"SurpIus-vaIucsthcrctorcspItupntovarous parts.!ts
tragmcntstaIItovarouscatcgorcsotpcrson,andtakconvarousmutuaIIy
ndcpcndcnttorms,such as proht,ntcrcst,gans madc throughtradc
that'smcrchant`sproht-"groundrcnt`taxcs,ctc."WcshaIIbcabIctodcaI
wththcscmodhcdtormsotsurpIus-vaIuconIynVoIumc]"(cp). Marx
assumcs,nchcct,thatcrcsahomogcncous captaIstIasscomprscd
otndustraIcaptaIsts aIonc.!nVoIumc !!! otCui/u/, t bccomcs cIcar
thatthc roIc otntcrcst-bcarngcaptaI,hnancccaptaI,mcrchantcaptaI
and Iandcd captaI arc aII otconsdcrabIc sgnhcancc to undcrstandng
thc ovcraII dynamcs otcaptaIsm. 8ut hcrc aII consdcraton otthcsc
tcaturcs sIad asdc.Whatwc arcIcwths ahghIysmpIhc modcI
sukrtus-vttur tNo tccumuttfioN 2qj
othowcaptaIaccumuIatonworks,andIkcanysuchmodcI,tsonIyas
goodastsassumptonsaIIow.
Jcrcsanothcrtactassumptonwhch actuaIIybccomcscxpIctabt
Iatcr natootnotc.
Hcrc wc takc no account otthc cxport tradc, by mcans ot whch a
naton can changc artcIcs ot Iury cthcr nto mcans ot producton
or mcans otsubsistcncc, andvicc vcrsa. n ordcr to cxamncthc objcct
ot our nvcstgaton n ts ntcgrty, trcc trom aII dsturbng subsdary
crcumstanccs,wcmusttrcatthwhoIcworIdottradcasoncnaton,and
assumcthatcapitaIst productonscstabIshcdcvcrhcrcandhastakcn
posscssionotcvcrybranchotindustry.(;z;)
Marx assumcs a cIoscd systcm wthn whch captaI crcuIatcs n a
"normaIway.JssanmportantandobvousIyrcstrctvcassumpton.
WhatwcarcIchwthsastrppcd-downmodcIotthcdynamcsotcaptaI
accumuIaton dcrvcdtromthc thcory otabsoIutc andrcIatvcsurpIus-
vaIucopcratngn acIoscdsystcm.JcmodcIturns out,aswc shaIIscc,
tobcvcryrcvcaIngotccrtanaspcctsotcaptaIsm.
Just to sct thc toIIowng chaptcrs n thcr tuII contcxt, t s usctuI to
contrastthcmwthwhathappcnsnthcothcrvoIumcsotCui/u/. VoIumc
!! contronts thatwhch shcId constantnVoIumc ! thcdcuItcsthat
arsc n hndng markcts andbrngng thcm nto a statc otcguIbrum
such that thc "normaI proccss ot captaI crcuIaton can procccd. 8ut
VoIumc !! tcnds to hoId constant that whch s trcatcd as dynamc n
VoIumc!,.c.,thccxtractonotabsoIutcandrcIatvcsurpIus-vaIuc,rapd
shis in tcchnoIogics and productivitics, shiing dctcrminations otthc
vaIuco Iaor-powcr.VoIumc!!magncsaworIdoconstanttcchnoIogy
andstabIcIaborrcIatonsHthcnposcsthcgucstons,howscaptaIgong
tocrcuIatcsmoothIygvcndcrcntturnovcrtmcs,ncIudngprobIcms
thatdcrvctromthccrcuIatonothxcdcaptaIotdcrcntItctmcs),and
how can t aIways hnd a markcttorthc surpIus-vaIuc bcng produccd
SncccaptaIaccumuIatonsaIwaysaboutcxpanson,howcancaptaIsts
hnd amarkctwhcnthcworkngcIasssbcng ncrcasngIymmscratcd
and thc captaIsts arc rcnvcstng Jcrc s, n tact, no mcnton ot
mmscratonatthccndotVoIumc !!.JcprobIcmsto cnsurc"ratonaI
consumptononthcpartotthcworkng cIasscs nordcrto hcIp absorb
thc captaI surpIuscs bcng produccd. Jc modcI hcrc wouId bc Ford`s
z
(
6 t comrtNioN fo mtkx: s CAP7AI
tamous turn toa hvc-doIIar cght-hour day tor thc workcrs,backcd by
an army ot socaI workcrs to cnsurc that thc workcrs consumcd thcr
wagcs"ratonaIIytromthc standpontotcaptaI.Wc nthc \SnowIvc
n a worId whcrc about ;c pcrccnt otthc drvng torcc n thc cconomy
dcpcndsondcbt-tucIcdconsumcrsm,whchspcrtcctIyundcrstandabIc
gvcnthcanaIyssotVoIumc!!butnotgvcnthatotVoIumc!.
Jcrcs,tturns out,amajor contradcton bctwccn thc cguIbrum
condtons dchncd nVoIumc!andthosc dchncd nVoIumc!!.!tthngs
arcgongrghtaccordngtothcVoIumc!anaIyss,thcnthcyarcIkcIyto
bcgongvcrybadIytromthcstandpontotVoIumc!!,andvccvcrsa.Jnc
two dstnctvc modcIs otthc dynamcs otcaptaI accumuIaton do not,
and cannot, concur. Jns prctaccs thc dscusson otthc ncvtabIty ot
crscs nVoIumc !!!,butmy nscrton otthc phrasc"dcbt-tucIcdbctorc
"consumcrsm sgnaIs that thc tcrms ot dstrbuton (hnancc crcdt
and ntcrcst may actuaIIy pIay a ccntraI ratcr tan mcrcIy ancIIary
roIc n thc dynamcs ot captaIsm. Consumcr powcr augmcntcd by
cvcrybody (ncIudng govcrnmcnts) usng thcr crcdt cards and gong
nto dcbt up to thc hIt has bccn ccntraI to thc stabIzaton (such as t
s) otgIobaI captaIsm ovcr thc past haItccntury. Nonc otths wII bc
cncountcrcdnthcchaptcrstotoIIow.8utthchghIysmpIcdmodcIot
captaIaccumuIatonthatMarxdocsconstructandanaIyzc sncrcdbIy
rcvcaIng,aswcII as dccpIyrcIcvantto undcrstandngthc rcccnthstory
ot ncoIbcraIsm, whch has bccn charactcrzcd by dcndustraIzaton,
chroncstructuraIuncmpIoymcnt,spraIngjob nsccurtcs andsurgng
socaI ncguaItcs.Wc havc, n short, bccn vcry much n thc word ot
VoIumc ovcr thc past thrtyycars. Jhc probIcms otchcctvc dcmand
rcvcaIcd n thc VoIumc !! anaIyss havc bccn tcmporarIy rcsoIvcd
through thc cxccsscs ot thc crcdt systcm, wth prcdctabIy dsastrous
conscgucnccs.
CHAPTER 2]. SIMPLE REPRODUCTION
Jchrst chaptcr otpart ; modcIs thc guaItcs ota hctonaI captaIsm
charactcrzcd by smpIc rcproducton. How docs captaI accumuIaton
throughthcxtractonotsurpIus-vaIucgct rcproduccdandpcrpctuatcd
ovcrtmc1oanswcrthatgucston,wcnccdtovcwcaptaIaccumuIaton
asa"conncctcdwhoIc,andnthc constantHotts nccssantrcncwaI,`
suchthat"cvcrysocaIproccssotproductonsatthcsamctmcaproccss
sukrtus-vttur tNo tccu:utt1ioN 2q)
otrcproducton'Furthcrmorc,"tproductonhasacaptaIsttorm,sotoo
wIIrcproducton;).
artotwhatthccaptaIst capturcs ntcrmsotncwwcaIthhastobc
put to rcprod

cng thc systcm. 8utths mcans that surpIus-vaIuc has

to rccrcuIatc back nto smpc rcp

oducton. "Jhs mcrc rcpctton, or

contnuty,mposcsonthcproccssccrtanncwcharactcrstcs,orrathcr,
causcsthc dsappcarancc otsomc apparcnt charactcrstcs posscsscdby
thc proccss n soIaton ;z). Jhc anaIyss so tar has bccn conccrncd
soIcIywththcproductonotsurpIus-vaIucasaonc-shotcvcnt.8utthngs
Iook rathcr dhcrcnt whcn cxamncd as a contnuous proccss gong on
ovcr tmc.
hat howsbacktothcworkcr nthcshapc otwagcs saporton otthc
producthchmscItcontnuousIyrcproduccs.JhccaptaIst,tstruc,pays
hm thc vaIuc ot thc commodty that s, thc vaIuc ot Iaborpowcr n
moncy,butths moncys mcrcIythc transmutcd torm otthc product ot
hs Iabour.hIc hc s convcrtng aporton otthc mcans otproducton
ntoproducts,aportonothstormcrproductsbcngturncdntomoncy.
It s hs IabourotIastwck,or otIastycar, that pays tor hs Iabour-powcr
thswcckor thsycar.Tc IIuson crcatcdby thc moncy-torm vanshcs
mmcdatcIyu,nstcadottakngasngIccaptaIstandasngIcworkcr,wc
takcthcwhoIccaptaIstcIassandthcwhoIcworkngcIass.(;z-])
CIassrcIatonsrathcrthanndvduaIcontractsnowmovcccntcrstagcn
Marx`sthnkng.
Jhc captaIstcIass s constantIygvng to thc workng cIass drahs, n
thc torm ot moncy, on a portion ot thc product produccd ythc acr
andappropratcdbythctormcr.hcworcrsgvcthcsc drasbacust
as constantIy to thc captaIsts,andthcrcby wthdraw trom thcIattcr
thcr aIIottcd sharc ot thcr own prduct. Thc transacton s vcIcd
by thc commodtytorm ot thc product and thc moncy-torm ot thc
commodty.(;])
Jc magc ths convcys s that thc workng cIass as a whoIc s n a
"companystorcrcIatontothccaptaIstcIass.Workcrsrcccvcmoncytor
thcIabor-powcrthcyscIIto thc captaIstsandthcnspcndthatmoncyto
buybackaportonotthc commodtcsthcycoIIcctvcIyproduccd.Js
company-storcrcIatons vcIcdby thcwagcssystcm and s notrcadIy
z
(
8 t comrtNioN fo mtkx:s CAP7AI
dsccrnbIcwhcnthcanaIysstocuscsonIyonthcndvduaIworkcr.Jc
mcanng otvarabIc captatakcsanothcrtwst.!n chcct,thc body ot
thcworkcr,trom thcstandpontotcaptaI,samcrctransmssondcvcc
tor thc crcuIaton ota porton otcaptaJcworkcrsn a contnuous
vcrsonotthcC-M-Cproccss.8utnstcadotsccngthsasasmpIcIncar
rcIaton,wcnowhavctothnkottascontnuousandcrcuIar.Aporton
ot thc captaI hows aIong as workcrs congcaI vaIuc n commodtcs,
rcccvcthcrmoncywagcs,spcndthcmoncyoncommodtcs,rcproducc
thcmscIvcsandcomcbacktoworktocongcaImorcvaIucncommodtcs
thcncxtday.WorkcrsstayaIvcbycrcuIatngvarabIccaptaInthsway.
Jsgvcsrsctosomcntcrcstngobscrvatons.1obcgnwth,varabIc
captaIIoscstscharactcrotavaIucadvanccdoutotthccaptaIst'stunds
. . . whcnwcvcwthc proccss otcaptaIstproductonn thc how otts
constant rcncwaI.' CaptaIsts pay thcr workcrs onIy ahcr thc work s
donc. n chcct, thcrctorc, workcrs advancc thc cuvaIcnt otthc vaIuc
ot thcr Iaborpowcr to thc captaIst. Jcrc s no guarantcc that thc
workcrwIIbcpadt, torcxampIc,captaIstsdccIarcbankruptcynthc
mcantmc).!nChnanrcccntycars,thcnonpaymcntotwagcsowcdhas
bccnvcrycommon,partcuIarIyn arcassuchasconstructon.8utMarx
s ntcrcstcd n rcshapng our ntcrprctaton otcaptaI accumuIaton n
cvcn morc radcaI ways.Hc ponts outthatthc"proccssmusthavc had a
bcgnnngotsomcknd.Fromourprcscntstandponttthcrctorcsccms
IkcIythatthccaptaIst,onccupon atmc,bccamcposscsscdotmoncy
bysomctormotprmtvcaccumuIaton ;).JsconccptwIIanchor
thc dscusson ot thc orgns ot captaIsm n part 8. Hcrc hc smpIy
asscrtsthatthcrcmusthavcbccn smcorgnaImomcntwhcncaptaIsts
somchoworothcrgothoIdotcnoughassctsmonctaryandothcrwsc)to
startonths proccss otcaptaIaccumuIaton.Jcgucstonhc poscshcrc
s,howandbywhomsthatorgnaIcaptaIrcproduccd
Marx gvcs an cxampIc. t a captaIst starts ohwth onc thousand
poundsandnvcsts t nvarabIccaptaIandconstantcaptaItoproducc
asurpIus-vaIucottwohundrcd pounds,thcn thccaptaIstappropratcs
thc two hundrcd pounds ashs or hcr own n addton to ganngback
thcorgnaIthousandpounds.8utthcorgnaIcaptaIhasbccnprcscrvcd
bythcworkcrs'productvcconsumpton,andthcsurpIus-vaIuchasbccn
produccdoutotthcworkcrs'surpIus Iabortmc.Supposcthcncxtycar,
thccaptaIstonccaganIaysoutoncthousandpoundshavngconsumcd
thcsurpIusaway) to produccanothcrtwohundrcdpounds otsurpIus-
sukrtus-vttur tNo tccumutt:ioN 2qQ
vaIuc.Acrhvcycarsotths,thcworkcrshavc produccd oncthousand
pounds otsurpIusvaIuc,whch s cuvaIcnt to thc captaIst`s orgnaI
captaI.MarxhcrcmakcsthcpoItcaIargumcntthatcvcntthccaptaIst
hadarghttothatthousandpoundsatthcbcgnnng,howcvcrhcorshc
camcbyn,acrhvcycarsotproducngtwohundrcdpoundsotsurpIus-
vaIuccvcryycar,thccaptaIsthassurcIytortctcdthcrghttothcorgnaI
captaI.Hcorshchas,accordngtoMarx`saccountngmcthod,consumcd
thc orgnaIcaptaIaway. JcthousandpoundsnowbcIongsbyrghtto
thcworkcrs,gvcnthcLockcanprncpIcnotctcdhcrc,butcIcarIyMarx
hasthsnmnd) thatpropcrtyrghtsaccructothoscwhocrcatcvaIucby
mxngthcrIaborwththcIand.Jhcworkcrsarcthconcswhoproduccd
thcsurpIusvaIuc,andbyrghtstshouIdbcIongtothcm.
JcpoItcsotthsargumcntarcmportantbutgoradcaIIyaganstthc
gran otdccpIycntrcnchcdwaysotthnkng.Wc wouId aIIbc surprscd
tobctoIdthatthcorgnaImoncywcpIaccdnasavngsaccountat,say,
} pcrccnt compound ntcrcst no Iongcr bcIongcd to us ahcr a numbcr
otycars. CaptaIsm appcars to bccapabIc otIayngts own goIdcn ncst
cggs, as tar as wc arc conccrncd. 8utwhcrc that} pcrccnt comcs trom
s a Icgtmatc ucston, and t can onIy bc, t Marx s rght, through
thc mobIzaton and appropraton ot surpIus-vaIuc trom somconc,
somcwhcrc.!tsdscomtortngtothnkthatpcrhapsthcj pcrccntcomcs
trom thc vcous cxpIotaton otIvngIabor n Guangdongprovnccn
Chna.urIcgaIsupcrstructurcsnsstcntonprcscrvngorgnaIpropcrty
rghtsandprcscrvngaIsothcrghttouscthoscrghtstoganaprot.8ut
thosc propcrtyrghts n turn dcrvc trom thc cIass powcr otcaptaI to
cxtractandmantan command ovcrthcsurpIuscs,bccauscIabor-powcr
h, by SQ6CIBC hIS!0IIC8 QI0C6SS6S, D6C0m6 8 C0mm0d!y bouht and
soId nthcIabormarkct.Jhc mpIcatonotwhatMarxssaynghcrcs
thatnordcrtochaIIcngccaptaIsm,tsncccssarytochaIIcngcnotonIy
thcwhoIcnotonotrghts,howpcopIcthnkaboutrghtsandhowpcopIc
thnkaboutpropcrty, butaIsothc matcraIproccsscswhcrcbysurpIuscs
arcbothcrcatcdandappropratcdbycaptaI.Jncn,ndccd,ahcrhvcycars
not a singIc atom ot thc vaIuc othis oId capitaI continucs to cxist . .
Thcrctorc, cntircIy Icaving asidc aII accumuIation, thc mcrc continuity
ot thc production proccss, in othcr words simpIc rcproduction, sooncr
or Iatcr, and ncccssariIy, convcrts aIIcapitaIinto accumuIatcd capitaI,or
capitaIicd surpIus-vaIuc.Evcn itthat capitaI was, on its cntryinto thc
2jO t co:rtNioN fo :tkx:s CAPI7AI
proccssoIproductIon,thcpcrsonaIpropcrtyoIthcmanwho cmpIoysIt,
andwasorIgInaIIyacquIrcdbyhIsownIabour,It sooncrorIatcrbccomcs
valuc approprIatcd wIthout an cquIvaIcnt, thc unpaIdIabour oIothcrs.
(;)
Jcrc happcns to bc an IntcrcstIng cxampIc oI a practIcaI pIan that
rcHccts Marx'swayoIthInkIng whcthcr ItdcrIvcdIromMarx,I do not
know) .A SwcdIsh Iabor cconomIstcaIIcd RudoIIMcIdncr,whopIaycda
major roIc In thc constructIon oIthchIghIy succcssIuI SwcdIshwcIIarc
statc Inthc p6csand carIy p;cs,camc up wIthwhatbccamc known as
thcMcIdncrPIan.ConIrontIngInIIatIon,thcpowcrIuItradcunIonswcrc
urgcd to cxcrcIsc coIIcctIvc wagc rcstraInt. In rcturn, thc cxtra prohts
(surpIus-vaIuc) that wouId accruc to capItaI bccausc oI that rcstraInt
wouIdbctaxcdawayandpIaccdInaworkcrcontroIIcdsocIaI-Invcstmcnt
Iun that wouI purchasc sharcs in capitaIIst corporations. c sharcs
purchascd wcrc dccmcd untradcabIc, and ovcr tImc morc than thc
hvcycars oIMarx's cxampIc) controI ovcr thc corporatIon wouId pass
ovcr to thc socIaIInvcstmcnt Iund. In othcrwords,thc capItaIIst cIass
wouId quItc IItcraIIybcboughtoutpcaccIuIIy) ovcrtImcandrcpIaccd
bytotaIworkcrcontroIovcrInvcstmcnt dccIsIons.JcpIanwas grcctcd
wIthhorrorbythc capItaIIstcIass whopromptIyawardcdthc so-caIIcd
MobcIPrIzcIncconomIcs-ItactuaIIyhasnothIngwhatsocvcrtodowIth
MobcI-toncoIIbcraIsIIkcFrIcdrIchHayckandMIItonFrIcdmanansct
upantI-unIonthInktanksandmobIIIzcdhcrccoppsItIonInthcmcdIa).
Jc socIaI-dcmocratIc govcrnmcnt oIthctImc got coId Icct and ncvcr
attcmptcdto ImpIcmcntthc pIan.8utwhcnyouthInkaboutIt,thc Idca
(much morc compIIcatcd In Its dctaIIs, oIcoursc) IsbroadIy consIstcnt
wIthMarx'sargumcnt,atthcsamctImcasItohcrsapcaccIuIwaytouy
outcapItaIIstcIasspowcr.SowhynotthInkmorcaboutIt
WhcnputtogcthcrwIththccompany-storcrcIatIonoIIabortocapItaI,
Marx's argumcnt Icads to cvcn dccpcr InsIghts at thc samc tImc as It
raIscscrucIaI(andInthIsInstancc,unIortunatcIy, unanswcrcd) qucstIons.
"SIncc,bcIorcthcIaborcr cntcrsthcproccss,hIsownIabourhasaIrcady
bccn aIIcnatcd . . . IromhIm"-that Is, hc has gIvcn ovcr thc uscvaIuc
oI Iabor-powcr to thc capItaIIst-"approprIatcd by thc capItaIIst, and
IncorporatcdwIthcapItaI,Itnow,Inthc coursc oIthcproccss,constantIy
objcctIhcs ItscIIsothat It bccomcs a product aIIcnto hIm' McIthcrthc
productnorthcIaborcongcaIcdInItbcIongtohIm.
sukrtus-vttur tNo tccumutt+toN z,:
1hcrcIorc, thc workcr hImscII constantIy produccs objcctIvc wcaIth, In
thcIorm oIcapItaI,anaIIcnpowcrthatdomInatcsandcxpIoItshIm,and
thc capItaIIstjust as constantIyproduccs Iabour-powcr, In thc Iorm oIa
subjcctIvcsourccoIwcaIthwhIchIsabstract,cxIstsmcrcIyInthcphysIcaI
bodyoIthcworkcr,andIsscparatcdIromItsownmcansoIobjcctIhcatIon
and rcaIIzatIon, In short, thc capItaIIst produccs thc workcr as awagc
Iabourcr.TIsInccssantrcproductIon,thIs pcrpctuatIonoIthcworkcr,Is
thcabsoIutcIyncccssarycondItIonforcapItaIIstproductIon.(;
! hnd thIs an IntcrcstIng and troubIIng IormuIatIon,worthyoI scrIous
rccctIon."1hcworkcrhImscIIconstantIyproduccs o0]cc/ivc wcaIth,In
thc Iorm oIcapItaI,'and that objcctIvcwcaIth bccomcs an aIIcn powcr
thatnowdomInatcsthcworkcr.1hcworkcrproduccs thc InstrumcntoI
hIsorhcrowndomInatIon!1hIsIsathcmcthatcchocsandrcvcrbcratcs
throughoutCui/u/. !tposcsagcncraIhIstorIcaIqucstIonoIthcpcnchant
oIhuman bcIngs to producc aII manncr oI Instrumcnts oI thcIr own
domInatIon. 8ut In thIs casc, thc capItaIIst produccs thc :u0]cc/ivc
sourcc oIwcaIth, whIch Is abstract, through thc "physIcaI body oIthc
workcr"whIch Is"scparatcd Irom Its own mcans oIobjcctIhcatIon and
rcaIIzatIon' 1hc capItaIIst produccs and rcproduccs thc workcr as thc
actIvcbut aIIcnatcd subjcctcapabIc oIproducIngvaIuc.AndthIs,pIcasc
notc,IsthcIundamcntaIsocIaIIyncccssarycondItIonIorthcsurvIvaIand
maIntcnanccoIacapItaIIstmodcoIproductIon.
1hc workcr cngagcs In productIvc consumptIon and IndIvIduaI
consumptIon (a dIstInctIon cncountcrcd carIIcr). Workcrs not onIy
producc thc cquIvaIcnt oIthc vaIuc oIvarIabIc capItaI, I.c.,thcIr own
Iivin,btthcyaIsotranscranthcrcbyrcrouccthcvaIcofconstant
capItaI. Jrough thcIr Iabor, workcrs rcproducc both capItaI and thc
Iaborcr. Jc chaptcrs on dIvIsIon oIIabor and machIncry showcd how
thc workcr was ncccssarIIy transIormcd Into an appcndagc oIcapItaI
InsIdc thcIaborproccss.8utnowwc aIsocomcto scc thcworkcr asan
"appcndagcoIcapItaI"InthcmarkctpIacc andInthchomc.1hatIswhat
thccIrcuIatIonoIvarIabIccapItaIrcaIIymcans.capItaIcIrcuIatcsthrough
thc body oIthcworkcr andrcproduccsthcworkcr as an actIvc subjcct
who rcproduccs capItaI.8ut thcworkcrnot onIyhas to bcrcproduccd
as an IndIvIduaI pcrson. "Jc maIntcnancc and rcproductIon oI thc
workIng cIass rcmaIns a ncccssary condItIon Ior thc rcproductIon oI
capItaI";p).
2j2 t comrtNioN fo mtkx: s CAPI7AL
1hIs raIscsahostofqucstIonsthatMarxgIosscsovcr.1hcpoIItIcsof
cIassrcproductIonwcrc,MarxhoIds,InhIstImcbrutaIandsImpIc."1hc
capItaIIstmaysafcIyIcavc"thc daIIygrIndofactuaIcIassrcproductIon
to "thc workcrs drIvcs for scIf-prcscrvatIon and propagatIon. AII thc
capItaIIst carcs for Is to rcducc thc workcrs IndIvIduaI consumptIon
to thc ncccssarymInImum"(;8) . 8ut Marx Is sIIdIngovcrsomcthIng
Important hcrc that crIcs out for dccpcr anaIysIs. Jc hugc and
fundamcntalqucstIonofthcrcproductIonofthcworkIngcIassInvoIvcs
qucstIons ofpropagatIon, scIf-prcscrvatIon, socIaI rcIatIons wIthIn thc
cIass and a host ofothcr Issucs that Marx convcnIcntIy Icavcs to thc
workcrs thcmscIvcsto sort outbccauscthatIswhat capItaI supposcdIy
docs.ActuaIIy, cvcn In a statc controIIcd by capItaIIsts and IandIords,
mattcrs of socIaI rcproductIon arc ncvcr Ich soIcIy to thc workcrs
thcmscIvcs and ccrtaInIy thc condItIons of class strugglc and "thc
dcgrcc ofcIvIlIzatIonIna countrycntcrInhcrcwIth at lcast thc samc
forcc as thcy do wIth rcspcct to qucstIons ofthc workIng day, Ifnot
wIth cvcn grcatcr forcc. 1hc carIIcr dIscussIon of thc cducatIonaI
cIauscs ofthc FactoryActs provIdcd an cxampIc ofstatc IntcrvcntIon
In thc poIItIcs ofworkIng-cIass rcproductIon,andthc statchas aIways
bccn actIvc In thc ncIds ofpubIIc hcaIth (gIvcn that choIcra had thc
awkward habIt of transccndIng cIass boundarIcs) and rcproductIvc
rIghts,popuIatIonpoIIcIcsandthcIIkc. IssucsofthIs sortnccdfarmorc
dctaIIcdconsIdcratIonthanMarxprovIdcs.8utMarxsgcncraIpoIntIs
wcIItakcn.SImpIcrcproductIonIs no/ atcchnIcaIqucstIon.1hccrucIaI
qucstIonIsthcrcproductIonofthccIassrcIatIon.
CapItaIIstproductIonthcrcforcrcproduccsInthccourscofItsownproccss
thc scparatIon bctwccn Iabour-powcr and thc condItIons ofIabour. It
thcrcby rcproduccs and pcrpctuatcs thc condItIons undcr whIch thc
workcr Is cxpIoItcd. ItInccssantIy forccshImto scllhIslabour-powcrIn
ordcrtolIvc,andcnabIcsthccapItalIsttopurchasclabour-powcrInordcr
thathcmaycnrIchhImscIf.ItIs nolongcramcrc accIdcntthatcapItaIIst
andworkcrconfront cach othcr In thc markct as buycr and scllcr. It Is
thc altcrnatIng rhyhm of thc proccss Itsclf whIch throws thc workcr
backontothcmarkctagaInandagaInasascIIcr ofhIsIabour-powcr and
contInually transforms hIs own product Into amcans bywhIch anothcr
man can purchaschIm.InrcaIIty, thcworkcrbclongs tocapItaIbcforchc
hassoldhImsclftothccapItalIst.(z])
sukrtus-vttur tNo tccumutt+ioN 2jj
Asarcsult,Marxconcludcs,
thc capItalIst proccss oI productIon, thcrcIorc, sccn as a total, conncctcd
proccss,c.aproccssoIrcproductIon,produccsnotonlycommodItIcs,not
onlysurplus-valuc,butItalsoproduccs andrcproduccs thccapItal-rclatIon
ItsclI,onthconchandthccapItalIst,onthcothcrthcwagc-labourcr.(;z()
CHAPTER 2q. THE TRANSFORMATION OF SURPLUS-VALUE
INTO CAPITAL
ForavarIctyoIrcasons,aswcwIIlshortIyscc,thcIdcaoIacapItaIIstmodc
oIproductIonInastabIc,nongrowthstatcIsImprobabIcIInotdownrIght
ImpossIblc.Chaptcrz(cxamIncshowandwhythcsurpIus-vaIucgaIncd
ycstcrdayIsconvcrtcdIntotomorrow'sncwmoncycapItaI.JcrcsuItant
"productIon oI capItaI on a progrcssIvcIy IncrcasIng scaIc" InvoIvcs
combInIng"addItIonal Iabour-powcr, annually supplIcd bythc workIng
cIassInthcshapcoIIabour-powcrsoIaII agcs,wIththcaddItIonaImcans
oIproductIon'ForthIstohappcnrcquIrcsthatcapItaImusthrstproducc
thccondItIonsIorItsowncxpansIon.
AccumulatIon rcquIrcs thc transIormatIon oI a portIon oI thc surplus
productIntocapItal, 8utwccannot,cxccptbyamIraclc,transIorm Into
capItalanythIngbutsuchartIclcsascanbccmploycdInthclabourproccss
(c.mcansoIproductIon),andsuchIurthcrartIclcsasarcsuItablcIorthc
sustcnanccoIthcworkcr(c.mcansoIsubsIstcncc).Conscqucntly,apart
oIthc annual surplus labour musthavc bccn applIcd to thc productIon
oIaddItIonalmcansoIproductIonand subsIstcncc. . . In aword,surplus
vaIuc can bc transtormcd into capitaI onIy bccausc thc surpIus product,
whoscvaluc It Is, alrcady comprIscs thc matcrIa componcnts ofa ncw
quantItyoIcapItal. (;z6-;)
Jc productIon oIIuxurIcs orothcruscIcssproducts (such as mIIItary
hardwarc and rcIIgIous or statc monumcnts) docs not work no mattcr
howprohtabIc such productIon maybc. Jc ncwmcans oIsubsIstcncc
andoIproductIonhavctobcproduccdandorganIzcdInadvancc.Jcn
andonlythcn "thccycIcoIsImplcrcproductIonaltcrsItsIormand. . . changcs
Into a spIraI" (;z;) Anothcr way oIIookIng at It (gIvcn thc analysIs oI
thc prcccdIngchaptcr) Isthat"thcworkIngclass crcatcsbythc surplus
IabouroIoncycarthccapItaIdcstIncdtocmployaddItIonaIIabourInthc
z
(
t comrtNioN fo mtkx: s CAP7AI
IoIIowIngycar.AndthIsIswhatIscaIIcd,'wrItcsMarxwIthhcavyIrony,
crcatIngcapItaIoutoIcapIta'
Jc Iaborcr Is, howcvcr, thc actIvc subjcct In thIs proccss. Marx
contInucs, howcvcr, to assumc that markct proccsscs conIorm to thc
Iaws oI commodIty cxchangc,wIth thc capItaIIst aIways buyIng Iabour
powcrandthcworkcraIwaysscIIIngItatwhatwcshaIIassumcIsItsrcaI
vaIuc'AgaIn,!cmphasIzcthcImportanccoIsuchassumptIonsInMarx's
anaIysIs."R Is quItc cvIdcnt Irom thIs that thc Iaws oIapproprIatIon or
oI prIvatc propcrty, Iaws bascd on thc productIon and cIrcuIatIon oI
commodItIcs,bccomc changcd Into thcIr dIrcct opposItc through thcIr
ownIntcrnaIandIncxorabIcdIaIcctIc' JcInvcrsIonoILockc'sprIncIpIc
oImIxIngIaborwIththc Iand to crcatcvaIucasgroundIngthcrIghtto
prIvatcpropcrtyIscIcar.
ccxchangcoIcquIvaIcnts,thcorIgInaIopcratIonwIthwhIchwcstartcd,
IsnowturncdroundInsuchawaythatthcrcIsonlyanapparcntcxchangc,
sIncc, rstIy, thc capItaI whIch Is cxchangcd Ior labour-powcr Is ItscII
mcrcIyaportIon oIthc product oIthc IabouroIothcrs whIch has bccn
approprIatcdwIthoutancquIvaIcnt.(;zp)
Asaconscqucncc,thcrcIatIonoIcxchangcbctwccncapItaIIstandworkcr
bccomcsamcrc scmbIancc bcIongIngonIytothcproccssoIcIrcuIatIon,
It bccomcs amcrcIorm,whIch Is aIIcntothccontcntoIthctransactIon
ItscII,andmcrcIymystIhcsIt"(;zp-]c).AmpII|Ing,MarxcontInucs.
c constt scd purchascoIlabour-powcrIsthcIorm,ccontcntIs
thcconsttapproprIatIonbythccapItaIIst,wIthoutcquIvalcnt,oIaportIon
oIthclabouroIothcrswhIchhasalrcadybccnobjcctIhcd,andhIsrcpcatcd
cxchgcoIthIsIabourIoragrcatcrqutItyoIthclInglabouroIothcrs.
OrIgInallythcrIghtsoIpropcrtysccmcdtoustobcgroundcdInamsown
Iabour.SomcsuchassumptIonwasatIcastncccssary,sIncconlycommodIty
owncrs wIth cqual rIghts conIrontcd cach othcr, and thc soIc mcans oI
approprIatIngthccommodItIcsoIothcrswascalIcnatIonoIamsown
commodItIcs, commodItIcs whIch, howcvcr, couId onIy bc produccd by
labour.ow,howcvcr,propcrtyturns out to bc thc rIght,on thc ptoIthc
capItalIst,toapproprIatcthcunpaIdlabouroIothcrsorItsproduct,andthc
mpossIbl on cptoIthc workcr, oI approprIatIng hIs ownproduct.
Tc scparatIon oI propcrty Irom labour thus bccomcs thc ncccssary
conscqucnccoIaIawthatapprcntlyorIgInatcdInthcIrIdcntIt(;)
suxrtus-vttur tNo tccumuttfioN z
Marxhashcrcrcturncd onccmorc)tothcqucstIon ofhowcquIvaIcnt
cxchangc can producc a non-cquIvaIcnt, I.c., surpIusvaIuc, and how
thc orIgInaI notIon oIpropcrty rIghts gcts Invcrtcd Into bcIng a rIght
ofapproprIatIon ofthc Iabor ofothcrs.What thcn foIIows Is a rcprIsc,
for whatsccmsIIkcthcumptccnthtImc,ofthc thcory ofsurpIus-vaIuc
so IfyouarcstIIIunsurcwhatIt'saIIaboutthcnrcadIt carcfuIIy-pagcs
;]c-).8ut Marxdocsgo onto notcthatwhatcanbcdcrIvcd fromthc
standpoIntofthcIndIvIduaIdocsntworkouttobcthcsamcthIngfrom
thcstandpoIntofcIassrcIatIons.
Tc mattcr Iooks quItc dIcrcnt IfwcconsIdcrcapItaIIst productIon In
thcunIntcrruptcd owofIts rcncwaI,andIf, InpIacc ofthcIndIvIduaI
capItaIIst and thc IndIvIduaI workcr, wc vIcw thcm In thcIr totaIIty, as
thc capItaIIst cIass and thc workIng cIass confrontIng cach othcr. 8ut In
doIng sowc shouIdbcappIyIng standards cntIrcIyforcIgnto commodIty
productIon. ;]z)
JIsIssobccauscfrccdom,cquaIIty,propcrtyand8cnthamprcvaIIInthc
markctpIacc,rcndcrIng InvIsIbIc thc productIon ofsurpIus-vaIuc In thc
Iaborproccss.
Thc samc rIghts rcmaIn In forcc bothatthcoutsct, whcn thcproduct
bcIongs to Its produccr,who,cxchangIngcquIvaIcntforcquIvaIcnt, can
cnrIch hImscIf onIyby hIs own Iabour, and In thc pcrIodofcapItaIIsm,
whcn socIaI wcaIth bccomcs to an cvcr-IncrcasIng dcgrcc thc propcrty
of thosc who arc In a posItIon to approprIatc thc unpaId Iabour of
othcrsovcrandovcr agaIn . . 1hIs rcsuIt bccomcs IncvItabIc from thc
momcnt thcrc is a trcc saIc, by thc vorkcr himscIt, ot Iabour-povcr as a
commodity. (;]])
8ourgcoIsfrccdomsandrIghtsmaskcxpIoItatIonandaIIcnatIon."1othc
cxtcntthatcommodItyproductIon,InaccordanccwIthItsownImmancnt
Iaws, undcrgocs a furthcr dcvcIopmcnt Into capItaIIst productIon, thc
propcrty Iaws of commodIty productIon must undcrgo a dIaIcctIcaI
InvcrsIon sothat thcy bccomc Iaws ofcapItaIIst approprIatIo ;]]-() .
JcrcIs,torcvcrttothcIanguagcofthcprcfacctoA Con/ri0u/ion /o /hc
Cri/iquc o[Io/i/icu/ Iconom], asupcrstructuraIadjustmcnttoIcgItImatc
and IcgaIIzc thc approprIatIon of surpIus-vaIuc by appcaI to conccpts
ofthc rIghts ofprIvatc propcrty. Hcncc Marx's fundamcntaI objcctIon
z6 t comrtNioN fo mtkx:s CAP7AI
to any andaII attcmpts to unvcrsaIzc bourgcos conccpton ot rght
and justcc. It mcrcIy provdcs thc socaIIy ncccssary IcgaI, dcoIogcaI
and nsttutonaI covcrtor thc producton otcaptaI on a progrcssvcIy
ncrcasngscaIc.
CIasscaI poItcaI cconomy, saddIcd wth bourgcos conccptons ot
rghts, produccd aII manncr ot"crroncous conccptons otrcproducton
on an ncrcasng scaIc as thc namc otsccton 2 has t). 1o bcgn wth,
thc rcIatonshpbctwccncaptaI accumuIaton andhoardng savng) was
Ich n a statc otuttcr conhson. Jc cIasscaI poItcaI cconomsts wcrc,
howcvcr, "gutc rght to mantan that thc consumpton ot thc surpus
productbyproductvc,nstcadotunproductvc,workcrssacharactcrstc
tcaturc otthc proccss otaccumuIaton 6).ButgvcnMarxsdcnton
ot"productvc,`thsmcansthatycstcrday`ssurpIusproducthastobcputto
crcatngmorcsurpIusproductandsurpIus-vaIuctoday.JcactuaIdyamcs
ot ths arc trc. IasscaI poItcaI cconomy tocusc cxcIusvcIy on thc
cxtraIabor andthcrctorccxtravarabIccaptaI ncrcasc n wagc outIas)
that wcrc caIIcd tor. But as n thc casc otScnor`s Iast hour, whch Marx
so cHcctvcIy mockcd carIcr, cIasscaI poItcaI cconomy tcndcd to torgct
cntrcIyaboutthcncccsstytoprocurcncwmcansotproductonconstat
captaI)wthcachroundotaccumuIatonwhcntaIctranstormatons
n thc rcIaton to naturc through raw-matcraI cxtractons).Js was thc
sccond"crroncousconccptonthatMarxhadtorcct.
Js brngs us to thc ccntraI gucston. whcn captaIsts havc surpIus-
vaIuc at thcr command, why don`t thcy just havc a good tmc and
consumctaway Somc otthcsurpIus-vaIucsndccd consumcdbythc
captaIstsasrcvcnuc.JccaptaIstcIassconsumcsawayaportonotthc
surpIus n pursung ts pIcasurcs. But part ott s rcnvcstcd as captaI
Anothcrgucstonthcn arscs.whatgovcrnsthcrcIatonshpbctwccnthc
captaIstconsumptonotrcvcnucsandthcrcnvcstmcntotsurpIus-vaIuc
ascaptaIMarx`sanswcrsworthguotngatIcngth.
xccpt as captaI pcrsonhcd,thc captaIst has no hstorcaI vaIuc, and
no rght to that hstorcaI cxstcncc whch, to usc chnows`s amusng
cxprcsson,`at got no datc H s onIy to ths cxtcnt that thc ncccssty
ot thc captaIsts own transtory cxstcncc s mpIcd n thc transtory
ncccsstyotthccaptaIstmodcotproducton.8ut,nsotarashcscaptaI
pcrsonhcd,hs otvatngtorccsnotthc acgustonandcnjomcntot
usc-vaIucs,butthcacgustonandaugmcntatonotcxchangc-vaIucs.
sukrtus-vttur tNo tccumuttfioN 2j)
CaptaIsts, Marx avcrs, arc ncccssarIy ntcrcstcd n and thcrctorc
motvatcdbythcaccumuIatonotsocaIpowcrnmoncy-torm.
c s tanatcaIIy ntcnt on thc vaIorzaton ot vaIuc, conscqucntIy hc
ruthIcssIy torccs thc human racc to producc tor productons sakc. !n
thswayhc spurs on thc dcvcIopmcntotsoccty`sproductvc torccs,and
thc crcaton otthoscmatcraIcondtons otproductonwhchaIonccan
torm thc rcaIbassotahghcrtorm otsoccty, asocctynwhchthctuII
and trcc dcvcIopmcnt ot cvcry ndvduaI torms thc ruIng prncpIc.
nIyas apcrsonhcaton otcaptaIs thccaptaIstrcspcctabIc.As such,
hc sharcswththc mscr an absoIutcdrvc towards scIt-cnrchmcnt.But
whatappcarsnthcmscrasthcmanaotanndvduaIsnthccaptaIst
thc ccctotasocaImcchansm n whch hc smcrcIyacog.Morcovcr,
thcdcvcIopmcntotcaptaIstproductonmakcstncccssaryconstantIyto
ncrcascthcamountotcaptaIIadoutn agvcn ndustraI undcrtakng,
andcompcttonsubordnatcscvcryndvduaIcaptaIsttothcmmancnt
IawsotcaptaIstproducton,ascxtcrnaIandcocrcvcIaws.!tcompcIshm
tokccpcxtcndnghscaptaI,soastoprcscrvct,andhccanonIycxtcndt
bymcans otprogrcssvc accumuIaton.p
Jc captaIst, accordng to Marx, has no rcaI trccdom, cthcr. Poor
captaIsts arc mcrc cogs n a mcchansm,who havc to rcnvcst bccausc
thccocrcvcIawsotcompcttontorccthcmntot.AscaptaIpcrsonhcd,
thcrpsychoIogyssotocuscdonthcaugmcntatonotcxchangc-vaIuc,on
thcaccumuIaton otsocm powcrn ImtIcss moncytorm,thatmoncy
accumuIaton bccomcs thc tctsh tocus otthcr dccpcst dcsrcs. Hcrcn
Ics thc smIartybctwccn thc mscrand thc captaIst.Jcybothwant
sociaI powcr,t thc sociaI powcr otcapitaIists comcs trom constantI
augmcntng thcr wcaIh by rcIcasng t nto crcuIaton, whcrcas thc
mscrtrcstohoIdontotbynotusngt.AndtcaptaIstsndvduaIIy
showanysgnotdrhngawaytromthcrccntraImsson,thcnthcpcsky
cocrcvc Iaws ot compctton oncc morc sId nto thc argumcnt n a
ccntraIroIcotpoIcngthcsystcm)brngthcmbackntoInc.
FaccdwththsrcaIty, thcbourgcosapoIogstscrcatcanobIchcton.
Jc captaIsts, thcy say, arc crcatng captaI and cngagng thcr nobIc
mssontocrcatcthat"hghcrtorm otsocctythatcvcn Marxconccdcs
canbcaproductotthcrcndcavours,throughabstncncc ! havc to say,
IvngnNcwork,havcncvcrnotccdthccaptaIstcIassabstanngtoo
much.ButMarxdocssuggcstthatcaptaIststaccaFaustandIcmma.Hc
z8 t comrtNioN fo mtkx: s CAPI7AI
cvcnquotcsIuu:/. "wosouIs,aIas,dodwcIIwIthInhIsbrcast,JconcIs
cvcrpartIngIromthcothcr"(;().JcyarcIorccdbythccocrcIvcIawsoI
compctitiontoaccumuIatcandrcinvcstonthconchandandarcpIagucd
by thc dcsIrc to consumc on thc othcr Cocrccd rcstraInt with rcspcct
to thc Iattcr Is thcn convcrtcd Into an IdcoIogyoIvoIuntarybourgcoIs
vIrtuc.ProhtcancvcnbcIntcrprctcdasarcturnonvIrtuc!RcInvcstmcnt,
thc story gocs, Is a vIrtuc (It crcatcs jobs,Ior cxampIc), and thcrcIorc
dcscrvcstobcadmIrcd andrcwardcd.AIIthosctaxcutsIorthcuItrarIch
that Gcorgc Y 8ush sct up durIng hIs prcsIdcncywcrc construcd as a
rcward Ior vIrtuous Invcstors whosc abstIncncc supposcdIy pIaycd a
crucIaIroIcInjob crcatIon and cconomIc growth.1hc Iactthatthc rIch
soon acquIrcdthchabIt oIthrowIng tcnmIIIIon-doIIar partIcs IorthcIr
kIds' graduatIons or thcIr trophywIvcs'birthdays hardIy squarcd wIth
thIs thcory. Marx, howcvcr, oncc again hcaviIy InHucnccd by thc story
oI Manchcstcr capitaIism, suggcsts that thc struggIc bctwccn thc "two
souIs"dwcIIIngIn thc capItaIIst's brcast undcrwcnt agraduaI cvoIutIon.
!nthcInItIaI stagcs, capItaIIsts Indccd wcrc Iorccd to cxcrcIsc rcstraInt
on consumptIon (hcncc thc sIgnIhcancc oI uakcr IdcoIogy among
somc carIy capItaIIsts In ngIand). 8ut as thc spIraI oI accumuIatIon
on a progrcssIvcIy incrcasIng scaIc got undcr way, so thc rcstraints on
consumptIon sIackcncd. !n Manchcstcr,durIng"thc Iast thIrtyycars oI
thccIghtccnthccntury. . . cxpcnscandIuxuryhavcmadcgrcatprogrcss"
Marxrcports,quotIng accountIrom;p (;(z).UndcrsuchcondItIons,
"productIon and rcproductIon on an IncrcasIng scaIc go on thcIr way
wIthout any IntcrvcntIon Irom that pccuIIar saint, that knIght oI thc
wocIuIcountcnancc,thcabstaInIng'capItaIIst"(;(6).
DrIvcnbythccocrcIvcIawsoIcompctItionandthcdcsirctoaugmcnt
thcIr socIaI powcr In IImItIcss moncy-Iorm, capItaIIsts rcInvcst bccausc
thIs Is,In thc cnd,thconIywaythcycanstayInbusIncss andmaIntaIn
thcIrcIassposItIon.1hIs Icads Marxto a ccntraI concIusIon conccrnIng
thccsscnccoIacapItaIIstmodcoIproductIon.
AccumuIatc, accumuIatc Tat is Moscs and thc prophcts Industry
IurnishcstcmatcriaIwhichsavingaccumuIatcsTcrcIorcsavcsavc,c.
rcconvcrtthcgrcatcstpossibIcportionoIsurpIus-vaIucorsurpIusproduct
into capitaIAccumuIationIor thc sakc oIaccumuIation,production Ior
thc sakcoIproductionthiswas thcIormuIainwhichcIassicalcconomics
cxprcsscd thc historicaI mission oIthc bourgcoisic in thc pcriod oIits
sukrtus-vttur tNo tccumuttfioN 2jQ
domination.ottor onc instant diditdcccivc itscItovcr thc naturc ot
wcaIthsbirth-pangs.8utwhatuscisittoIamcntahistoricaIncccssityII,
Inthc cycs oIcIassIcaIcconomics,thc proIctarIanis mcrcIyamachinctor
thcproductionotsurpIus-vaIuc,thccapitaIisttooismcrclyamachinctor
thctranstormationotthissurpIus-vaIucintosurpIuscapitaI.(;(z)
WhatthIs mcansquItcsImpIyIs thIs. capItaIIsm Is aIways aboutgroth.
Jcrc can bc no such thIng as acapItaIIst socIaI ordcr that Is not about
growthandaccumuIatIononaprogrcssIvcIyIncrcasIngscaIc."AccumuIatIon
IorthcsakcoIaccumuIatIon,productIonIorthc sakc oIproductIon'Just
rcadthcprcssrcportsonthcstatcoIthccconomycvcryday,andwhatarc
pcopIctaIkIng about athc tImc Growth!Whcrc'sthc growth How arc
wc goIng to grow SIow growth dcncs arcccssIon, and ncgativc growth
a dcprcssIon. Onc or2 pcrccnt growth compoundcd) Is not cnough,wc
nccdatIcastj, and onIy whcn wcrcachqpcrccntIs thc cconomydccmcd
tobc"hcaIthy'AndIookatChInawIthItssustaIncdcpcrccntgrowthratcs
ovcrmanyycars.thatIsthcrcaIsucccssstoryoIourtImcs comparcdwIth
Japan,whIchahcr dccadcs oIstcIIargrowthIcIIIntothcsIckbayoIgIobaI
capItaIIsm,wIthcIosctozcrogroththroughoutthcppcs.
1othIsImpcratIvc attachcsaIctIshbcIIcI,awhoIcIdcoIogy,ccntcrcd
onthcvIrtucsoIgrowth.GrowthIsIncvItabIc,growthIsgood.Mottogrow
IstobcIn crIsIs.8utcndIcssgrowth mcans productIonIorproductIons
sakc,whIch aIso mcans consumption Ior consumptIons sakc.AnythIng
thatgctsInthcwayoIgrowthIsbad. 8arrIcrsandIImIts to growthhavc
tobcdIssoIvcd.nvironmcntaIprobIcms1oobad!JcrcIatIontonaturc
must bc transIormcd. SocIaI and poIItIcaI probIcms 1oo bad! Rcprcss
critics and scnd rccaIcitrants to aiI. copoIiticaI barricrs 8rca thcm
downwithvioIcnccitncccssary.vcrythinghasto dancc tothc tuncot
"accumuIation Ior thc sakcoIaccumuIatIon,productIonIor thc sakcoI
production'
JIsIs,IorMarx,oncoIthcdcnIngcharactcrIstIcsoIcapitaIIsm.1o
bcsurc,hcarrivcs at thIsconcIusIononthcbasIsoIhIsassumptIons.8ut
thcsc assumptIons arc consIstcnt with thc Inhcrcnt vIsIon intcrnaIizcd
wIthIn cIassIcaI poIItIcaI cconomy as to thc "hIstorIcaI missio oI thc
bourgcoIsIc. And It dcncs a vcry Important and powcrIuI rcguIatIvc
prIncipIc.HasthchIstoryoIcapitaIismbccnaboutcompoundInggrowth
ratcs cs.Havc capitaIist crIscs comc to bc dcncd as IackoIgrowth
cs. Arc poIicy makcrs throughout thc capItaIIst worId obscsscd with
z6o t comrtNioN fo mtkx:s CAP7AI
stImuIatIng andsustaInInggrowthcs. AnddoyousccanybodyrcaIIy
qucstIonIng thc growth prIncIpIc, Ict aIonc doIng anythIng about It
Mo. 1o qucstIon growth Is IrrcsponsIbIc and unthInkabIc. OnIy cranks,
mIshtsandwcIrdutopIansthInkthatcndIcssgrowth,nomattcrwhatthc
cnvIronmcntaI, cconomIc, socIaI and poIItIcaI conscqucnccs, mIght bc
bad.1obc surc,probIcmsdcrIvIngfromgrowth,suchasgIobaIwarmIng
andcnvIronmcntaIdcgradatIon,nccdtobcaddrcsscd,butrarcIyIsItsaId
thatthcanswcrtothcprobIcmIstostopgrowthaItogcthcrcvcnthough
thcrc Is cvIdcncc that rcccssIons rcIIcvc prcssurcs onthc cnvIronmcnt).
Mo,wchavctohndncwtcchnoIogIcs,ncwmcntaIconccptIons,ncwways
ofIIvIng andproducIng,suchthatgrowth,cndIcsscompoundIngcapItaI
accumuIatIon,cancontInuc.
JIshasnotbccnarcguIatIvcprIncIpIcofothcrmodcsofproductIon.
1o bc surc, cmpIrcs grcw and socIaI ordcrs cpIsodIcaIIy cxpandcd, but
thcn thcy aIso ust as ohen stabIIIzed and In some Instances stanated
and cvcn fadcd away. Onc of thc bIg crItIcIsms of actuaIIy cxIstIng
communIsms In, for cxampIc, thc Iormcr SovIct UnIon and Cuba, has
bccn that thcy dIdt growcnough and so couId not compctcwIth thc
IncrcdIbIc consumcrIsm and growth pcrformancc oIthcWcst,ccntcrcd
on thc US.! do not saythIs In praIsc ofthc USSR but mcrcIy to poInt
up howautomatIc our rcsponscs tcnd to bcto nongrowth-stagnatIon
Is unforgIvabIc. So now wc havc cnough SUVs, CocaCoIa and bottIcd
watcr around to satIs| accumuIatIon for accumuIatIos sakc wIth aII
manncr ofdIsastrous cnvIronmcntaI andhcaIth conscqucnccs such as
thccpIdcmIcoIdIabctcs,whIchIncIdcntaIIy,contInucstobcrarcInCuba
comparcd wIth thc US). !t bcars thInkIng about that thc cndIcss thrcc
pcrccnt compoundratcofgrowththathascharactcrIzcdcapItaIIsmsIncc
thcmId-cIghtccnthccnturymIghtbcsInguIarIyhardtomaIntaIn.Whcn
capItaIIsm was constItutcd by an cconomIc zonc oIabout Iorty squarc
mIIcs around Manchcstcr and a fcw othcr smaIIcr IocatIons, a thrcc
pcrccntcompoundratcofgrowthwasoncthIng,butnowItcovcrsuropc,
Morth and South AmcrIca and abovcaII ast AsIa,wIth strcngthcnIng
ImpIantatIons In !ndIa, !ndoncsIa, RussIa and South AfrIca. StartIng
Irom thIs basc, thc conscqucnccs ofa thrcc pcrccnt compound ratc oI
growth ovcrthc ncxthhyycarsarc unImagInabIc.Atthc samc tImc, It
makcsMarx'ssuggcstIonInthcGrundri::c thatItIstImcforcapItaItobc
gonc,andtomakcwayforsomcmorcscnsIbIcmodcofproductIon,morc
ImagInabIcIfnotabsoIutcIyImpcratIvc.
sukrtus-vttur tNo tccumuttfi oN 21
hcrcarc,Itturnsout,avarIctyoIwaystogaInsurpIus-vaIucwIthout
producInganhIng. cducIng thcvaIuc oIIabor-powcrbyrcducIngthc
standard oIIIvIng opcns up oncpath.!ndccd,MarxwrItcs,quotIngJohn
Stuart MIII,"If Iabour couId bc had wIthout purchasc, wagcs mIght bc
dIspcnscdwIth'8utthcn
IfthcworkcrscouIdIIvconaIr,ItwouIdnotbcpossIbIctobuythcmatany
prIcc.1hIszcrocostofIabourIsthcrcforcaIImItInamathcmatIcaIscnsc,
aIwaysbcyondrcach,aIthoughwccanaIwaysapproxImatcmorcandmorc
ncarIytoIt.1hc constant tcndcncyofcapItaIIstoforccthc cost ofIabour
backtowardsthIsabsoIutczcro.)|)
And Marx notcs somc ways to do thIs, such as provIdIng rccIpcs to
workcrssothcycanIccdthcmscIvcsmorcchcapIy.atcrthIssortoIthIng
bccamcpartoIthcpractIccoI,IorcxampIc,thc usscII SagcFoundatIon
and oIthc practIccs oIsocIaI workcrs as thcy sought to cducatc othcr
workcrsto propcr modcs oIconsumptIo. 8ut pIaInIy, takIng thIs path
crcatcs probIcms oI chcctIvc dcmand, whIch Marx docs not consIdcr
hcrc sIncc hc has ruIcd It out by assumIng that aII commodItIcs tradc
at thcIr vaIucs.SavIng on constant capItaI IncIudIng cuttIng down on
wastc)canaIsobchcIpIuIwhIIccapItaIIstsarcconstantIyonthcIookout
Ior"somcthIngprovIdcdbynaturcIrcc ofchargc"().H IsonccagaIn
thcdIrcctactIonoImanonnaturcwhIchbccomcsan ImmcdIatcsourcc
oI grcatcr accumuIatIon,wIthout thc IntcrvcntIon oI any ncw capItaI"
(z). ChangIng thc productIvIty of socIaI Iabor through othcr mcans
motIvatIon and organIzatIon) Is aIso frcc oI chargc, and usIng oId
machIncs bcyondthcIr IIfctImc hcIps as ocs thc mobIIIatIon ofpat
asscts c.g.,buIItcnvIronmcnts) Ior ncwpurposcs. FInaIIy,"scIcnccand
tcchnoIogygIvccapItaIapowcrofxpansIonwhIchIsIndcpcndcntofthc
gIvcnmagnItudcoIthccapItaIactuaIIyfunctIonIng"().AccumuIatIon
can bc cxpandcd by aII thcsc dIhcrcnt mcans wIthout rcsort to thc
capItaIIzatIonoIsurpIus-vaIuc.
"!thasbccnshownInthccourscofthIsInquIry,'MarxconcIudcsatthc
bcgInnIngoIscctIon,
that capItaI Is not a cd magnItudc, but apart ofsocIaI wcaIth whIch
Is cIastIc, and constantIy uctuatcs wIth thc dIvIsIon of surpIus-vaIuc
Into rcvcnuc and addItIonaI capItaI. R has bccn sccn furthcr that, cvcn
z6z t comrtNioN fo mtkx
:
s CAPI7AI
with agivcn magnitudcoffunctioningcapitaI,thcIabour-powcr,scicncc
andIand(whichmcans,cconomicaIIyspcaking,aIIthcobjccts ofIabour
furnishcdbynaturcwithouthumanintcrvcntionincorporatcdinitform
cIasticpowcrsofcapitaI,aIIowing it,withinccrtainIimits,ahcIdofaction
indcpcndcnt ofits own magnitudc. In this inquirywc havc ignorcd aIl
rcIations arising from thc proccss ofcircuIation hc is hcrc rcminding
us of thc initiaI assumptions about thc markct , which may producc
vcrydicrcnt dcgrccs ofccicncyin thc samcmass ofcapitaI . . . and
wc disrcgardcd any morc rationaI combination which couId bc ccctcd
dircctIy and in a pIanncd way with thc mcans of production and thc
Iabour-powcratprcscntavaiIabIc.
Oncc agaIn,MarxInsistsonthc IncrcdIbIc HcxIbIityandmancuvcrabIIity
oIcapItaI."CIassIcaI poIItIcaI cconomy' In contrast,"has aIways IIkcd to
conccIvcocIaIcapItaIaacdmagnItudcoIacddcgrccoIccIcncy'
at poor man crcmy 8cntham, a "sobcrly pcdantic and hcavfootcd
oracIcoIthccommonscnsc'oIthcnInctccnthccnturybourgcoIsIc'hada
partIcuIaryhxcdvIsIonoIhowcapItaIIsmconstructcdaIabourhnd;8).
CapItaIIsnotahxcdmagnItudc! ! AIwaysrcmcmbcrthIs,andapprccIatc
thatthcrcIsagrcat dcaIoIHcxIbIIItyandHuIdItyInthc systcm.Jc Ich
opposItIonto capItaIIsmhas too ohcnundcrcstImatcdthIs. IIcapItaIIsts
cannotaccumuIatcthIsway,thcnthcywIIIdoItanothcrway.IIthcycannot
usc scIcncc andtcchnoIogytothcIrownadvantagc,thcywIIIraIdnaturc
orgIvcrccIpcstothcworkingcIass.1hcrcarcInnumcrabIcstratcgIcsopcn
tothcm,andthcyhavcarccordoIsophIstIcatIonInthcIrusc.CapItaIIsm
maybcmonstrous,butitIsnotarIgIdmonstcr.OpposItIonaImovcmcnts
Ignorc Its capacIty Ior adaptatIon, HcxIbIIIty and HuIdIty at thcIr pcrII.
CapItaIIsnotathIng,butaproccss.H IscontInuaIIyInmotIon,cvcnasIt
ItscIIIntcrnaIIzcsthcrcguIatIvcprIncIpIcof"accumuIatIonforthcsakcoI
accumuIatIon,productIonIorthcsakcofproductIon'
CHAPTER TEN
L8
[
!88! CCumu8!On
CHAPTER 2j. THE GENERAL LAW OF CAPITALIST
ACCUMULATION
In chaptcr z, Marx opcratIonaIIzcs a synoptIc modcI oI capItaIIst
dynamIcs undcr thc assumptIons IaId out at thc bcgInnIng oI part ;
accumuIatIonIsoccurrIngInItsnormaIwaythcrcIsncvcranyprobIcm
InthcmarkctandcvcrythIngtradcsatItsvaIuc,wIththccxccptIonInthIs
chaptcroIIaborpowcr),thcsystcmIs cIoscd no tradcwIthanoutsIdc),
surpIus-vaIucIsbcIngproduccdthroughthccxpIoItatIon oIIIvIngIabor
In productIon, and thc dIvIsIon oI thc surpIus-vaIuc bctwccn Intcrcst,
prohtoImcrchant'scapItaI,rcntandtaxcshasnoImpact.InthIsstrIppcd
down modcI oIthc accumuIatIon proccss, cvcrythIng Is contIngcnt on
thcscassumptIons.WhcnthcscassumptIonsarcdroppcd,asthcyarcIn
VoIumcII,thcrcsuItsIookdIhcrcnt.
A Commcn/ur] on /hc \u/uc Como:i/ion o[Cui/u/
InthIschaptcr,MarxIocuscsononcpartIcuIar substantIvcIssuc.Hcwants
to cxamnc thc ImpIIcatIons oIc accumuIatIon oIcapItaIIor c Iatc oI
thc working cIass.JIs Iswhyhcaowsthc rcmuncratIon oIIaborpowcr
touctuatcabovcandbcIowItsvaIuc.oaidhimInthistask,hcscts up a
conccptuaI apparatus conccrnIngwhathccaIIsthccomposItIonoIcapItaI"
;6z).Hcuscs thrcctcrms.tcchnIcaI composItIon,organIccomposItIonand
vaIuccomposItIon.1hcsctcrmswcrc,Itsccms,IntroduccdIaIryIatcIntothc
argumcnt, inpartto rcHcct somc oIthc workhcwas doInginVoIumc III
oncontrdIctIonsandcrIscs.Sothc tcrms dontdothatmuchworkInthIs
chaptcr,andItIspossIbIctoundcrstandhIsargumcntthoutthcm.
IIyouhndthIs partoIthcdIscussIoncsotcrIcandpcrpIcxIngwhIchIt
Is),thcnpassstraIghton tothc ncxt scctIon.8ut sInccthcsctcrmspIay a
kcyroIcInVoIumc III andhavcbccnthcsubjcctoImuchargumcntand
controvcrsyIn MarxIan thcory morc gcncraIIy, I thInk It Important to
cxamIncthcmhcrc.
z6
(
t comrtNioN fo mtkx's CAP7AI
Jctcrm"tcchnIcaIcomposItIon"sImpIydcscrIbcsthcphysIcaIabIIIty
oIaworkcrtotransIormaccrtaInquantItyoIusc-vaIucsIntoacommodIty
InagIvcnpcrIodoItImc.ItIsthcmcasurcoIphysIcaIproductIvIty.ItrcIcrs
to thc numbcr oIsocks,tons oIstccI, Ioavcs oIbrcad, gaIIons oIorangc
juIccorbottIcsoIbccrproduccdbyaworkcrpcrhour.cwtcchnoIogIcs
transIormthcscphysIcaIratIos,sothat,IorcxampIc,thcnumbcroIsocks
produccdpcr hour pcrworkcrIncrcascsIromtcntotwcnty.1hcconccpt
oItcchnIcaI composItIon Is cIcar and unambIguous. ProbIcms arIsc In
dIhcrcntIatIng bctwccn thc organIc and vaIuc composItIons, both oI
whIch arc vaIuc ratIos. Jc vaIuc composItIon Is thc ratIo oIthc vaIuc
oIthc mcans oIproductIonconsumcdInproductIonto thcvaIucoIthc
varIabIc capItaI advanccd. ConvcntIonaIIy, wc rcprcscnt thIs as c/v, thc
amount oIconstant capItaI dIvIdcd by thcvarIabIc capItaI. Jc organIc
composItionwhichIsaIso mcasurcdasavaIucratiooIc/v,Is dchncd as
changcs in thc vaIuc composition that arisc bccausc ot physicaI changcs
InproductIvIty.
y thc dIhcrcncc Jc ImpIIcatIon Is that changcs In vaIuc
composItIon can occur othcr than thosc rcIatcd to physIcaI changcs In
productIvIty. SIncc changcs oIthIs nontcchnoIogIcaI sort wcrc IIstcd at
thc cnd oIthcprcccdIngchaptcr, thIs IntcrprctatIonIs morc than mcrcIy
pIausIbIc.8utnotcthatthcscchangcs,suchasgIsoInaturc,cconomIzIng
onwastc,or dcprcssIng thc physIcaI standardoIIIvIng oIworkcrs,can
ahcct thc vaIuc oIboth thc constant and thc varIabIc capItaI IaId out,
suchthatthc c/vratIo can cIthcrIncrcasc or dccrcasc as arcsuIt.1hcrc
Is anothcrpossIbIc IntcrprctatIonthatMarx docs notto myknowIcdgc
cxpIIcItIydcvcIop,butwc couIdInIcrIt.1hIs IntcrprctatIon dcpcnds on
whcrcthcchangcsInphysIcaIproductIvItyarc occurrIng.IIIchangcthc
physIcaIproductIvItyoIsockmakIngbycmpIoyIngncwmachIncry,thcn
thc ratIo /v Ict's caII thIs thc organIc composItIon oIcapItaI) typIcaIIy
IncrcascswIthIn my hrm bccausc oImyactIons.8utthIs ratIo wIII aIso
IIkcIychangcwIthoutmydoInganythIngbccauscthcvaIucoIthcconstant
andvarIabIccapItaIIpurchascatItsvaIuc,gIvcnMarx's assumptIons) Is
hxcdbythc changIngphysIcaI productIvItyInthc IndustrIcsproducIng
thcwagcgoodsthathxthcvaIucoIIabor-powcrandthcothcrIndustrIcs
producIng thc mcans oI productIon that I purchasc constant-capItaI
Inputs). InthIsInstancc,thcratIoc/vIct'scaIIthIsthcvaIuccomposItIon
oIcapItaI)wIIIrIsc orIaII dcpcndIngonthc rcIatIvc paccoIchangcsIn
physIcaIproductIvIyInthcsctwodIhcrcntscctorsoIthccconomycvcn
ctrifttisf tccumuttfioN 2j
though physIcaI productIvIty wIthIn my hrm has not changcd) . 1hIs
IntcrprctatIonIocuscsonthc dIhcrcnccbctwccnwhatIspossIbIcIorthc
IndIvIduaIcapItaIIsttodoaboutthc/vratIoandwhathappcnstothcc/v
ratIoInthcmarkctoutsIdcIndIvIduaIcapItaIIstcontroI.RIshardtosustaIn
thIsIntcrprctatIonhcrc,gIvcnthatMarxInthIschaptcrIsworkIngatthc
aggrcgatcIcvcIoIrcIatIonsbctwccnthccapItaIIstandworkIngcIasscs.8ut
yct It Is aIso pIausIbIc gIvcn thc thcoryoIrcIatIvc surpIusvaIuc,whIch
cmphasIzcsthatItIsthcIndIvIduaIcapItaIIst'sscarch,opcratIngundcrthc
cocrcIvcIawsoIcompctItIon,IorthccphcmcraIIormoIrcIatIvcsurpIus
vaIucthattruIydrIvcsthctcchnoIogIcaIdynamIsmthatproduccsrcIatIvc
surpIus-vaIucoIthc aggrcgatc sort.
JcrcasonaIIthIsIssoImportantIsthatInVoIumcIIIoICui/u/, Marx
takcs up thc qucstIon oIwhy thcrc mIght bc a tcndcncy Ior thc ratc oI
prohtto IaII.RIcardohadcxpIaIncdthIs In MaIthusIan tcrms,atInthc
cnddImInIshIngrcturnsonthcIandwouIdsoIncrcascthcprIccoInaturaI
rcsourccs that prohts wcrc bound to dccIInc to zcro. In othcr words,thc
probIcm rcsIdcs In thc rcIatIon to naturc whcn Iaccd wIth aIaIIIngratc
oIprohtprobIcm,MarxcIscwhcrcquIppcd,RIcardo"HccsIromcconomIcs
to scck rchgc In organIc chcmIstry" ). Marx dIsmIsscs thIs cIaIm and
argucs Instcad that It Is thc IntcrnaI dnamIcs oI tcchnoIogIcaI changc
wIthIn capItaIIsm,thc scarch IorrcIatIvcsurpIus-vaIuc, that Incrcascs thc
organIc vaIuc) composItIon oI capItaI, /v,whIch In thc Iong run w
Icadto a IaIIIngratcoIprohts/c v ) undcr thc assumptIonoIaIImIt
on thc ratc oIcxpIoItatIon sv). Put dIhcrcntIy, Iabor-savIng InnovatIons
rcmovc thcactIvcvaIuc produccr Irom thc Iabor proccss and so makc It
morc dIcuIt othcr thIngs bcIng cquaI) to producc surpIus-vaIuc. Jc
arumcn is incnious and has thc undoutcd vrtc crrcctIym y
vIcw)IntcrnaIIzIngthcdynamIcsoIcrIsIsIormatIonwthInthcIramcwork
oIcapItaIIst socIaI rcIatIons andthc dcvcIopmcnt oIIts productIvc Iorccs.
UnIortunatcIy,thcargumcntIsIncompIctcandprobIcmatIcbccausc,gIvcn
thc sccond IInc oIargumcnt advanccd abovc, thcrc Is no dchnItc rcason
whythcratIo/vshouIdIncrcascInthcwayMarxsuggcstsItwouId.
In thIs chaptcr, Marx argucs IorthrIghtIy In Iavor oIa Iaw oI rIsIng
vaIuc composItIon oIcapItaI. Hc bcgIns by poIntIng out that Irom thc
standpoIntoIthcwhoIccapItaIIstcIass,thc changIngvaIuccomposItIon
oIcapItaIhasbothdIrcctandIndIrcctaspcctsIn rcIatIon toproductIon.
i. GrunJrissc, 753-4.
z66 t comrtNioN fo mtkx:s CAPI7AI
WcarctaIkIng about notonIymachIncs and IactorIcsbut aIso raIIways,
roads and aII manncr oI physIcaI InIrastructurcs buIIt cnvIronmcnts)
that provIdc thc ncccssary prccondItIons for capItaIIst productIon and
rcaIIzatIonto procccd.IIthcscprccondItIonsarctobcfuIhIIcd,thcrchas
to bc an astonIshIng Incrcasc In thc ratIo oIthc totaI stockoIconstant
andIncrcasIngIyhxcd) capItaIInrcIatIonshIptothcnumbcroIIaborcrs
cmpIoycd. MarxIaIIs to rcgIstcrhcrc apoInthc makcs Iscwhcrc. that
II past Invcstmcnts In, say, thc buIIt cnvIronmcnt havc aIrcady bccn
amortIzcd,thcnthcyopcratcasa"Irccgood" -muchIIkcgIhsoInaturc
Iorca

ItaIIstproductIontoprocccd.1hatIs,unIcssapcskyIandIordcIass
gctsInthcwayandstartscxtractIngrcntfromthcm.)Jcmovcmcntfrom
rcIatvcIysImpIchandIcrahproductIonto morc compIcxand Intcgratcd
proccsscsoIproductIonInItscIfcntaIIsahIstorIcaItcndcncyforthcratIo
oIc/toIncrcascwIthtImc.JIsIcadsMarxto asscrtthatthc
IawofthcprogrcssIvcgrowthofthcconstantpartofcapItaIIncomparIson
wIththcvarIabIcpart Is conhrmcd at cvcrystcp . . . by thc comparatIvc
anaIysIs of thc prIccs of commodItIcs, whcthcr wc comparc dIcrcnt
cconomIc cpochs or dIcrcnt natIons In thc samc cpoch. Thc rcIatIvc
magnItudcofcpartofthcprIccwhIchrcprcscntsthcvaIucofthcmcans
IproductIon,orthc constantpartofthc capItaI,Is In dIrcctproportIon
to thc progrcss of accumuIatIon,whcrca thc rcIatIvc magnItudc ofthc
othcrpartofthcprIcc,whIchrcprcscntsthcvarIabIcpartofthccapItaI,or
thcpaymcntmadcforIabour,IsIn InvcrscproportIonto thcprogrcss of
accumuIatIon(;;]-()
JcrcIs,hccIcarIyproposcshcrc,a"Iaw"oIrIsIngvaIuc composItIon oI
capItaIovcrtImc,and It Is thIsIawthatpIays such acrucIaIroIc Inthc
thcoryoIthcIaIIIngratcoIprohtInVoIumc III.8utMarxdocsrccognIzc
that thcrc can bc a dccrcasc In thc vaIuc as opposcd to thc physIcaI
prcscncc) oI constant capItaI bccausc oI tcchnoIogIcaI changc. Indccd,
hcsuggcststhatthc rcasonthc c/vratIohasnotIncrcascdmorcthanIt
has"IssImpIc.wIththcInrcasIngproductIvItyoIIabour,thcmassoIthc
mcans oIproductIon consumcd byIabourIncrcascs,butthcIrvaIuc In
comparIsonwIththcIrmassdImInIshcs'AsarcsuItoIrIsIngproductIvIty
InthcproductIonoImcansoIproductIon,
thcIrvaIucthcrcforcrIscsabsoIutcIy,butnotInproportIontothcIncrcasc
InthcIrmass.ThcIncrcascofthcdIcrcnccbcccnconstantandvarIabIc
ctrifttisf tccumuttfioN
capItalIsthcrcIorcmuchIcssthanthatoIthcdIcrcnccbctwccnthcmass
oIthcmcansoIproductIonIntowhIchthcconstantcapItaI,andthcmass
oIthcIabour-powcrIntowhIchthcvarIabIccapItaI,Isconvcrtcd.(;;()
JcsupposcdIaw"oIa rIsIngvaluc composItIonoIcapItaI Issubcctto
modIhcatIon,butnotInawaythatcontrovcrtsItsIundamcntaIdIrcctIon.
hc accumuIatIon oIcapItaI and thc scarch Ior rcIatIvc surpIus-vaIuc
gIvctocachothcr,thatchangcInthctcchnIcaIcomposItIonoIcapItaIby
whIchthcvarIabIccomponcntbccmcssmaIIcrandsmaIIcrascomparcd
wIththcconstantcomponcnt"(;;6).
8ut what Marx nccds to do to consoIIdatc hIs argumcnt Is to
dIsaggrcgatcthccconomyIntoscctorsproducIngwagcgoodsandmcans
oIproductIon,rcspcctIvcIy,andthcncxamIncrcIatIvcratcsoIchangcIn
physIcaIproductIvItyInboth scctors. HcdocsthIsatthccndoIVoIumc
IIwrIttcnahcrthcdrahsoIVoIumcIIIthathavccomcdowntous), but
hIsmaInconccrnthcrcIstocxamIncthcprobIcmoIhowthcmarkctcan
kccpthctwoscctorsIncquIIIbrIumIIataII) .HcthcrcIorcassumcsaway
thctcchnoIogIcaIdynamIsmthatIIcsatthchcartoIthcVoIumcIanaIysIs
andIssovItaItothcVoIumcIIIanaIysIsoIIaIIIngprohts.hc conccptoI
vaIuccomposItIonIsnotmcntIoncd.HcdocsopcnupthcprobabIIItyoI
crIscs oIdIsproportIonaIIty toomanywagcgoods In rcIatIon to mcans
oIproductIon,orvIccvcrsa)andcvcnthcpossIbIIItyoIgcncraIIzcdcrIscs
oI undcrconsumptIon Iack oI chcctIvc dcmand) but docs nothIng to
IIIumInatc thc Issuc oIIaIIIngprohtratcs duc totcchnoIogIcaIchangcs.
WhatsubscqucntthcorctIcaIworkhasshown,howcvcr,IsthatthcrcIsa
pattcrnoItcchnoIogIcaIchangcbctwccnthctwoscctorswagcgoodsand
mcansofgLodu0!I0n)!hd! 0dB K00 !h0 0/V Id!I0 S!0duj IB 0I0!uI!j, Du!
thatnomcchanIsmscxIsttocnsurcsuchanoutcomc.HcnccthcIIkcIIhood
oIIrcqucntcrIscsoIdIsproportIonaIItyandoccasIonaIgcncraIIzcdcrIscs
dcrIvIngIrom thc InstabIIItIcsgcncratcdoutoItcchnoIogIcaIchangcsIs
consIdcrabIc.
PIaInIy, wc cannotrcsoIvcaII thcsc Issucs hcrc.Myown vIcw whIch
many wIII dIsagrcc wIth) Is that Marx`s IntuItIon that pattcrns oI
tcchnoIogIcaI changc arc dcstabIIIzIng to thc poInt oIproducIng crIscs
Is corrcct but that hIs cxpIIcatIon oI rIsIng vaIuc composItIons and
IaIIIng prohts Is not. Howcvcr, thc maIn IInc oIargumcnt that unfoIds
In thIs chaptcr Is rcadIIy undcrstandabIc wIthout dcpIoyIng thc vaIuc
composItIonconccpt.
z68 t co:rtNioN fo :tkx:s CAP7AI
1c Iir:/ Aodc/ o[Cui/u/ Accumu/u/ion
!fcapItaIIststakcpart ofthc surpIus-vaIuc thcy approprIatcd ycstcrday
and Invcst It In morc productIon today, thcn thIs rcquIrcs morc Iabor
powcr,assumIngforthc momcntthatthcrc Isno tcchnoIogIcaI changc.
So thc hrst obvIous chcct ofthc accumuIatIon ofcapItaI undcr thcsc
condItIonsIsIncrcascddcmandforIabor-powcr.ccumuIatIonofcapItaI
Isthcrcforc muItIpIIcatIon ofthcproIctarIat" ;6).Whcrc arc thc cxtra
Iaborcrs goIngto comc from,andwhatarcthcImpIIcatIonsofIncrcasIng
thcdcmandAt somcpoInt,IncrcasIngdcmandwIIIIcadto an Incrcasc
In wagcs. Jc "spIraI" of accumuIatIon thcrcforc cntaIIs morc capItaI
bcInggcncratcd,morcIaborcrsbcIngcmpIoycdandatsomcpoInthIghcr
wagcs,suchthatIabor-powcrIscIthcrsoIdabovcItsvaIucancxccptIon
to thc assumptIonthataII commodItIcs tradc at thcIrvaIuc) orthat thc
vaIucofIabor-powcrrIscsasIaborcrsgaInahIghcrstandardofIIvIng.8ut
thIsonIymcans"thatthcIcngthandcIghtofthcgoIdcnchaInthcwagc
IabourcrhasaIrcadyforgcdforhImscIfIsIooscncdsomcwhat";6p).
At thc bcst oftImcs an Incrcasc In wagcs mcans onIy a quantItatIvc
rcductIonIn thcamountofunpaId Iabour thcworkcrhas to suppIy.TIs
rcductIoncanncvcrgo sofar asto thrcatcnthcsystcmItscIf.Apartfrom
vIoIcnt conIcts ovcr thc ratc ofwagcs . . . a rIsc In thc prIcc ofIabour
rcsuItIngfrom accumuIatIonofcapItaIImpIIcsthcfoIIowIngaItcrnatIvcs
. . . IthcrthcprIcc ofIabour kccps on rIsIng,bccausc ItsrIscdocs not
IntcrfcrcwIththcprogrcssofaccumuIatIon.(;6p;)
JatIs,capItaIIstscanahordsomcIncrcascInthcprIccofIabor,bccauscthc
massofcapItaIthcycanapproprIatccontInucstoIncrcascasthcycmpIoy
morc Iaborcrs. Rcmcmbcr,capItaIIsts arc prImarIIyIntcrcstcd Inthc mass
ofproht, andthcmass dcpcnds,as wc sawIn chaptcr1), onthcnumbcr
ofIaborcrscmpIoycd,thcratcofcxpIoItatIonandthcIntcnsIt.!nthcfacc
ofa dImInIshIng ratc ofcxpIoItatIon, IncrcasIng thc numbcr ofIaborcrs
cmpIoycd can Incrcasc thc mass ofcapItaI gaIncd by thc capItaIIst by a
substantIaIamount.!nthIssccnarIo,thcrcIs,thcrcforc,noconHIctbctwccn
rIsIngwagcsandcapItaIaccumuIatIon."JcothcraItcrnatIvc Isthat
accumuIatIonsIackcnsasarcsuItofthcrIscInthcprIccofIabour,bccausc
thc stImuIus of gaIn Is bIuntcd. Tc ratc of accumuIatIon Icsscns, but
ctrifttisf tccumuttfioN z6
thIs mcans that thc prImary causc oI that IcsscnIngItscIIvanIshcs, I.c.
thc dIsproportIon bctwccn capItaI and cxpIoItabIc Iabour-powcr Tc
mcchanIsmoIthccapItaIIstproductIonproccssrcmovcsthcvcryobstacIcs
IttcmporarIIycrcatcs.c)
Marx's modcIhcrc IsquItcsImpIc.AccumuIatIonoIcapItaI,assumIng
constantproductIvIty,IncrcascsdcmandIorIabor.WhcthcrornotthIs
IcadstoarIscInwagcsdcpcndsonthcavaIIabIcpopuIatIon.8utasmorc
and morc oIthc avaIIabIc popuIatIon arc brought Into cmpIoymcnt,
wagcs wIII go up, whIch dImInIshcs thc ratc oI cxpIoItatIon. 8ut thc
mass oI surpIus-vaIuc can contInuc to rIsc bccausc morc Iaborcrs arc
cmpIoycd. IIat somc poInt,Iorwhatcvcr rcason,thc mass oIsurpIus
vaIucbcgInstodImInIsh,thcnthcdcmandIorIabortaIIsoh,thcprcssurc
on wagcs sIackcns and thc ratc oI cxpIoItatIon rccovcrs. Ovcr tImc,
thcrcIorc,wc wouId IIkcIy scc countcrvaIIIng oscIIIatIons Inwagc and
proht ratcs.Wagcs rIsc, accumuIatIon sIackcns,wagcs IaII back,prohts
andaccumuIatIonrcvIvc.MarxhcrcdcscrIbcsanautomatIcad]ustmcnt
systcmbctwccn thc dcmand and suppIyoIIaborandthcdynamIcs oI
accumuIatIon.
Jcrc Is,Marxsuggcsts,hIstorIcaIcvIdcnccIor proccsscsoIthIssort.
IncIghtccnth-ccntryngIandthcrcwas a tcndcncy,madcmuchoIby
a contcmporarycommcntator caIIcd dcn,Iorwagcs to rIsc bccausc oI
thc rapIdcxpansIon oIcapItaI accumuIatIon.Jc workIng cIasscs wcrc
bccomIngbcttcrohaIongsIdcacapItaIIstcIassthatwaspIaInIydoIngvcry
wcIIJctcmptatIon,towhIchdcnsuccumbcd,wasto dccIarcthcrcIorc
that capItaI accumuIatIon was good Ior thc workcrs as wcII. 8ut aII It
docssaysMarxIstoIcngtcnthcoIdcnchaIn"thattIsIabortocapItaI.
8csIdcs,thIsIdcahadcarIIcrbccnvIgorousIycontradIctcdInthcIamous
tract oIMandcvIIIc, Thc Iu0/c o[ /hc cc:. MandcvIIIc had produccd a
scurrIIouspoIcmIcagaInstthc"droncs"thatcxIst In ngIIsh socIctyand
InsodoIngcstabIIshcdthatsuchasocIctyhadadcspcratc nccdIorpoor
pcopIc,thcpoorcrthcbcttcr,bccauscthcywouIdthcndcmandIcssInthc
wayoIgoodsandscrvIccs,IcavIngmorcIorthcrIch.IIwcdIdn'thavcthc
poor,thcnthcrIchcouIdnotbcrIch.JIspIIIoryIngoIthc condItIons In
ngIandInthccIghtccnthccnturyupsctAdamSmIthandthchumanIsts,
whocouIdnotacccptthcproposItIonthatthcpoorshaIIaIwaysbcwIthus
andthatthcpoorscrvcsuchavItaIIunctIonIorthcrIch.SmIthsrcsponsc
wastoattcmpttoshowthatcvcrybody,IncIudIngthcpoorcst,stoodInthc
2)O t comrtNioN fo mtkx's CAPI7AI
cndtobcbcttcr ohIIthc markct mcchanIsmwas mobIIIzcd chcctIvcIy
to Incrcasc natIonaI wcaIth. 1hc sIgnIhcancc oIMandcvIIIc Ior Marx Is
thc Idca that thc accumuIatIon oI capItaI rcquIrcs thc prIor cxIstcncc
oInot onIy an avaIIabIc popuIatIon but an avaIIabIc popuIatIon that Is
sumcIcntIyImpovcrIshcd,IssumcIcntIyIgnorant,IssumcIcntIyopprcsscd
anddcspcratc,thatItcanbcrccruItcdasIow-wagcIaborIntothccapItaIIst
systomatthcdropoIthcprovcrbIaIhat.
1c Sccond Aodc/ o[Cui/u/ Accumu/u/ion
1hc sccond modcI oI accumuIatIon anaIyzos what happcns whcn thc
IncrcasIngproductIvItyoIsocIaIIaborccomcs"thcmostpowcrIuIIcvcr
oIaccumuIatIon"(;;z).1hcImpactsoItcchnoIogIcaIandorganIzatIonaI
changcs on productIvIty nccd to bc pIaccd In a ccntraI posItIon In
roIatIon to thc dynamIcs oIaccumuIatIon. 1hIs Icads Marxto cIaboratc
at somc Icngth on thc "Iav ot incrcasing vaIuc composition ot capitaI
Inthc manncr aIrcadyoutIIncd.8utwhIIc"thcprogrcss oIaccumuIatIon
IcsscnsthorcIatIvcmagnItudcoIthcvarIabIcpartoIcapItaI. . . thIsbyno
mcansthcrcbycxcIudcsthcpossIbIIItyoIarIscInItsabsoIutcmagnItudc,'
bocausc,aswchavcsccnInthchrstmodcI,moroIaborcrscanbocmpIoycd
tocountcractthcIaIIIngratcoIsurpIusvaIuc (;;().
1hc dcpIoymcnt oI coopcratIon, ncw dIvIsIons oI Iabor and thc
appIIcatIon oI machIncry, scIonco and tcchnoIogy as ways to Incrcasc
Iabor productIvIty dcpcnds, In tho hrst Instancc, on thcrc havIng
bccn sumcIcn InItIaI or "prImItIvc" accumuIatIon oI moncy wcaIth
to sct thc whoIc proccss In motIon. Marx has Introducod thIs tcrm,
"prImItIvoaccumuIatIon,'bcIoro,butagaInprcIcrstodcIayanydctaIIcd
consIdcratIon oI It untII part 8."How It ItscII orIgInatcs wo nccd not
InvcstIgato as yct" (;;). 8ut oncc accumuIatIon gcts undcr way, thc
progross oI IncroasIng productIvIty aIso dcpcnds on proccsscs oI
concontratIon and contraIIzatIon oI capItaI. OnIy In thIs way can aII
possIbIooconomIosoIscaIoboroaIIzod.WcaIthIncroasIngIyconcontratos
In a Iow hands, ho says, bocauso at oach roud oI accumuIatIon tho
capItaIIst acquIros an IncroasIng mass oIcapItaI In tho Iorm oImonoy
pwor rowth occurs at a compound rato and tho concontratIon oI
woaIthandpoworaccoIoratos,thoughInawaythatIsIImItodbythorato
oIsurpIus-vaIuo and tho numbor oIIaborors ompIoyod. 1hIs procossoI
concontratIonmayaIsobopartIaIIyohsot,howovcr,bythcoponIngupoI
ncwsmaIIbusInosscsInncwIIncsoIproductIon.
ctrifttisf tccumuttfioN 21
TcrcforcnotonIyarcaccumuIatIonandthcconccntratIonaccompanyIng
ItscattcrcdovcrmanypoInts,butthcIncrcascofcachfunctIonIngcapItaI
Is thwartcdbythc formatIon ofncw capItaIs and thc subdIvIsIon ofoId.
AccumuIatIon, thcrcforc, prcscnts ItscIf on thc onc hand as IncrcasIng
conccntratIon of thc mcans of productIon, and of thc command ovcr
Iabour, and on thc othcr hand as rcpuIsIon ofmany IndIvIduaI capItaIs
fromoncanothcr.(;;6;)
Jc"fragmcntatIonofthctotaIsocIaIcapItaIIntomanyIndIIduaIcapItaIs,
orthcrcpuIsIonofItsfractIonsfromcachothcr,'mustaIsobctakcnInto
account.JIsIstypIcaIMarx.thcrcarccountcrvaIIIngtcndcncIcsatwork.
conccntratIon on thc onc hand, subdIvIsIon and fragmcntatIon on thc
othcr. Whcrc Is thc baIancc bctwccn thcm ho knows! Jc baIancc
bctwccnconccntratIonanddcccntraIIzatIonIsaImostccrtaInIysubjcctto
pcrpctuaI(countcrInganytcIcoIogIcaIIntcrprctatIofthccvoIutIon
ofmachIncryandIargc-scaIcIndustry).
cntraIIzatIon, on thc othcr hand, arrIvcs at conccntratIon ofcapItaI
by a dIhcrcnt path-takcovcrs, mcrgcrs, thc ruthIcss dcstructIon of
compctItors. 1hcrc maybc,Marx suggcsts,Iaws ofthc ccntraIIzatIon of
capItaI.8uthc admItshc Is not In a posItIon to dcvcIop thcscIawshcc,
thoughhccvIdcntIysuspcctsthatthcymayyctbcuncovcrcd(whIchwouId
bc consIstcnt wIth thc tcIcoIogIcaI vIcw ). Jcrc Is, howcvcr, a dchnItc
tcndcncytowardccntraIIzatIon,undoubtcdIyhcIcdbya"ncwforcc that
comcs Into cxIstcnccwIth thc dcvcIopmcnt of capItaIIst productIon. thc
crcdItsystcm"(;;;).IIchcIsnotyctInaposItIontoIntroduccthccrcdIt
systcm hcrc (It wouId vIoIatc hIs InItIaI assumptIon that thc dIvIsIon of
srIs-vaIc bctwccn intcrcst, rcnt, rot on mcrchant captaI ocs not
mattcr),hccannotrcsIstsomcprcparatoryrcmarks
In Its rst stagcs, thIs (crcdIt) systcmfurtIvcIy crccps In as thc humbIc
assIstant of accumuIatIon, drawIng Into thc hands of IndIvIduaI or
assocIatcd capItaIIstsby InvIsIbIc thrcads thc moncyrcsourccs,whIch IIc
scattcrcdIn Iargcr or smaIIcr amounts ovcr thc surfacc ofsocIcty,but It
soon bccomcs a ncw and tcrrIbIc wcapon In thc battIc of compctItIon
and Is naIIy transformcd Into an cnormous socIaI mcchanIsm for thc
ccntraIIzatIonofcapItaIs.(;;;-)
1hc pIcturc Is compcIIIng and In Marx's tImc drcw much from thc
thcorIcs of SaInt SImon on thc powcr of assocIatcd capItaIs and thc
z/z t comrtNioN fo mtkx: s CAP7AI
practIccs of Sccond mpIrc bankcrs such as thc PrcIrc brothcrs In
Francc.ItaIsorcsonatcsInourcontcmporaryworId.SctupmIcro-crcdIt
and mIcro-hnancc InstItutIons to capturc what Is caIIcd"thc wcaIth at
thcbottomofthcpyramIdandthcnsuckoutaIIthatwcaIthtosupport
aIIIngIntcrnatIonaIhnancIaIInstItutIons (aIIwIththchcIp ofthcWorId
8ankand thc IMF) and usc thatwcaIthonWaII Strcct to paythc assct
andmcrgcrgamc. . . "CommcnsuratcIywIththcdcvcIopmcntofcapItaIIst
productIon and accumuIatIon'MarxacutcIy obscrvcs,"thcrc aIso takcs
pIaccadcvcIopmcntofthctwo mostpowcrfuIIcvcrsofccntraIIzatIon
compctItIon and crcdIt (;;-p). RapId ccntraIIzatIon ovcrtakcs thc
sIowcrproccsscsofconccntratIonthroughcompoundgrothasthcmaIn
vchIcIcforachIcvIngthccnormoushnancIaIscaIcrcquIrcdtoImpIcmcnt
cntIrcIyncwroundsofproductIvItyIncrcasc.CcntraIIzatIoncanradIcaIIy
Improvc and Incrcasc thc scaIc ofproductIon.Wc wouIdnt bc abIc to
undcrtac many ofthc mcga-projccts of physcaI nfrastructurcs (c.g.,
raIIwaysandports)andurbanIzatIon(hxcdandconstantcapItaI)wIthout
ccntraIIzatIon (or,ashcdIscusscscIscwhcrc,wIthoutInvoIvIngthcstatc).
Adcquatc Instrumcnts of ccntraIIzatIon arc, thcrcforc, absoIutcIy
crItIcaI to thc dynamIcs of accumuIatIon. 8ut thIs poscs thc thrcat
of monopoIy powcr and contradIcts thc vIsIon, so dcar to cIassIcaI
poIItIcaI cconomy as wcII as to contcmporary ncoIIbcraI thcorIsts, ofa
dcccntraIIzcd markct cconomy charactcrIzcd by hIghIy dIspcrscd and
IndIvIduaIIstIcdccIsIonmakIngsuchthatnoonccancorncrordomInatc
thcmarkct.WhatMarxsuggcstshcrcIsthatcvcnIfthcmarkctcconomy
bcgIns wIth smaIIscaIc,hIghIy compctItIvc hrms, It Is aImost ccrtaInIy
goIng to bc rapIdIy transformcd through ccntraIIzatIon of capItaI and
cnd up In a statc ofoIIgopoIyor monopoIy. Jc rcsuIt ofcompctItIon,
hcsays cIscwhcrc,IsaIways monopoIy. ProccsscsthcrcforccxIstIntcrnaI
to thc capItaIIstdynamIcthat arc InhcrcntIydIsruptIvc to thc thcoryof
howpcrfcctmarkctswork.JcprobIcmIsthatmarkctsandthcstruggIc
for rcIatIvc surpIus-vaIuc cannot cocxIstforIongwIthoutccntraIIzatIon
kIckIng In and dIsruptIng dcccntraIIzcd dccIsIon makIng In frccIy
functIonIngmarkcts.WhIIcMarxdocsnotcxpIIcItIymakcthIspoInthcrc,
It Is,surcIy, onc ofth ImpIIcatIons ofhIsargumcnt.8ut Ifthc anaIysIs
of conccntratIon Is anythIng to go by, IncrcasIng ccntraIIzatIon cannot
cntIrcIybcaonc-wayproccssIacknganycountcrvaIIIngInIIucnccsand
forccs.UnfortunatcIy,MarxdocsnotmakcthIspoInthcrc,butcIscwhcrc
hc wIII taIk about thc way In whIch ccntraIIzatIon can somctImcs bc
CAITALIST ACCUMULATION 2]
countcrcdbydcccntraIIzatIon.crcIorc,whatwchavcto Iookat Isthc
rcIatIonshIpbctwccnconccntratIon,dcconccntratIon,ccntraIIzatIonand
dcccntraIIzatIon.8utwhathc'sIntroducIngInhcrcIsthcIdcaoIamarkct
dynamIc oIthc accumuIatIon proccss In whIch thcsc Iorccs havc to bc
IntcgratcdIntothcargumcntandnotsctasIdc as somc kIndoIaccIdcnt
oIhIstory.Is,though,takcshImbcyondhIsrcmItInthIschaptcr,whIch
IsaboutthccondItIonoIthcworkIngcIass.
A rIsIngproductIvItyoIIabor (arIsIngvaIuccomposItIonoIcapItaI)
hasImpIIcatIonsforthcdcmandIorIabor.
SIncc thc dcmand for Iabour Is dctcrmIncd not by thc cxtcnt of thc
totaI capItaI but by Its varIabIc constItucnt aIonc, that dcmand faIIs
progrcssIvcIy wIth thc growth of thc totaI capItaI, Instcad of rIsIng
In proportIon to It, as was prcvIousIy assumcd. It faIIs rcIatIvcIy to thc
magnItudcofthctotaIcapItaI,andatanacccIcratcdratc,asthIsmagnItudc
Incrcascs.IththcgrowthofthctotaIcapItaI,ItsvarIabIcconstItucnt,thc
Iabour Incorporatcd In It, docs admIttcdIy Incrcasc,but In aconstantIy
dImInIshIngproportIon.;-z)
Is ImpIIcs that capItaIIst accumuIatIon "constantIy produccs, and
produccs Indccd In dIrcct rcIatIon wIth Its own cncrgy and cxtcnt, a
rcIatIvcIy rcdundant workIng popuIatIon, c. a popuIatIon whIch Is
supcruoustocapItaI'savcragcrcquIrcmcntsIorItsownvaIorIzatIon,and
IsthcrcIorca surpIus popuIatIo ;z).H docs thIsbythatproccsscswc
nowcaIIdownsIzIng.
Tc workIn ouIatIon thcrcforc roduccs both thc accumulation of
caItaI andthe means bywhIch It Is ItscIfmadc rcIatIvcIy sucruous
and It docs thIs to an cxtcntwhIchIs aIways IncrcasIng. TIs Is aIawof
popuIatIonpccuIIartothccapItaIIstmodcofproductIon.;()
OnccagaIn,thc thcmc oIthcproductIonoIthc condItIons oIourown
domInatIoncmcrgcsasasuprcmcIrony.
McntIon oI a "Iaw ofpopuIatIo puts Marx on a coIIIsIon coursc
wIth MaIthus, who, judgIng by carIIcr footnotcs, Is Iar Irom bcIng
Marx's IavorItc thcorIst and whosc unIvcrsaI thcoryoIpopuIatIonand
ovcrpopuIatIoncaIIcdIorrcIutatIon."vcrypartIcuIarhIstorIcaImodcof
productIon,'MarxwrItcs,"hasItsownspccIaIIaws oIpopuIatIon,whIch
arc hIstorIcaIIy vaIId wIthIn that partIcuIar sphcrc. An abstract Iaw oI
z/
(
t comrtNioN fo mtkx: s CAPI7AI
popuIatIon cxIstsonIyIorpIantsandanImaIs,andcvcnthcnonIyInthc
abscncc oIanyhIstorIcaIIntcrvcntIonbyman"(;8().Marx'sobjcctIonto
MaIthusIsthathcnaturaIIzcsuncmpIoymcntandthccrcatIonoIpovcrty
byturnIngthcmIntothcsImpIcrcIatIonshIpbctwccnpopuIatIonIncrcasc
andprcssurconrcsourccs.MarxdocsnothoIdthatpopuIatIongrowthIs
IrrcIcvant orcvcn ncutraI wIth rcspcct to capItaI accumuIatIon, Indccd,
thcrcarcmanypassagcscIscwhcrcInwhIchhcdcpIctsstrongpopuIatIon
growth as a ncccssary prccondItIon Ior sustaIncd accumuIatIon. HIs
IundamcntaI objcctIon Is to thc thcsIs that povcrty Is produccd by a
workIngcIassthatrcproduccsItscIItoonumcrousIy(thcrcbybIamIngthc
vIctIm) .Marx's conccrn Isto showhowcapItaIIsm produccspovcrtyno
mattcrwhatthcstatcorratcoIpopuIatIongrowth.HcprovcsMandcvIIIc
wasrIght,thatthc poor arcandaIwayswIIIbcwIthus undcr acapItaIIst
modc oIproductIon but, con/m MandcvIIIc, Marx shows how andwhy
this is so.
CapItaIIsm produccs povcrtybycrcatIngarcIatIvcsurpIusoIIaborcrs
through thc usc oI tcchnoIogIcs that throw Iaborcrs out oI work. A
pcrmancnt pooI oI uncmpIoycd Iaborcrs Is socIaIIy ncccssary Ior
accumuIatIontocontInuctocxpand.
8ut II a surpIus popuIatIon oI workcrs Is a ncccssary product oI
accumuIatIon or oI thc dcvcIopmcnt oI wcaIth on a capItaIIst basIs,
thIs surpIus popuIatIon aIsobccomcs, convcrscIy, thc Icvcr oI capItaIIst
accumuIatIon, Indccd It bccomcs a condItIon Ior thc cxIstcncc oI thc
capItaIIst modc oI productIon H Iorms a dIsposabIc IndustrIaI rcscrvc
army,whIchbcIongstocapItaIjustasabsoIutcIyasIIthcIattcrhadbrcdIt
atItsowncost.
!t Is not, thcrcIorc, thc tcchnoIogy ItscII that Is thc maIn Icvcr oI
accumuIatIon, but thc pooI oI surpIus Iaborcrs to whIch It gIvcs rIsc.
"!ndcpcndcntIyoIthcIImItsoIthcactuaIIncrcascoIpopuIatIon,Itcrcatcs
amass oIhumanmatcrIaIaIwaysrcadyIorcxpIoItatIonbycapItaIInthc
IntcrcstsoIcapItaI'sownchangIngvaIorIzatIonrcquIrcmcnts"(;8().
1ypIcaIIy,thcrcscrvcarmyIsdrawnIntoproductIonandthcnthrown
out InaItcrnatIng bursts, crcatIng acycIIcaI motIon Inthc Iabor markct.
"JcvaryIngphascsoIthcIndustrIaIcycIcrccruItthcsurpIuspopuIatIon,
andbccomconcoIthcmostcncrgctIcagcncIcsIorItsrcproductIon"(;8)
MarxdcscrIbcs
ctrifttisf tccumuttfioN z/
tho sImpIo procoss that constantIysots Iroo apart oItho workIng cIass,
bymothodswhIchIossonthonumboroIworkorsompIoyodInproportIon
to tho Incroasod productIon. Modorn Industrys whoIo Iorm oImotIon
thoroIorodopondsonthoconstanttransIormatIonoIapartoIhoworkIng
popuIatIonInto unompIoyodorsomIompIoyodhands
von poIItIcaI oconomy soos that tho productIon oI a roIatIvo surpIus
popuIatIono a popuIatIon surpIus In roIatIon to capItaI`s avorago
roquIromonts Ior vaIorIatIonIs a nocossary condItIon Ior modorn
Industry` ;86) MaIthus, Ior oxampIo, rocognIos that a surpIus
popuIatIon Is a nocossIty oI modorn Industry" but ho IaIIs to soo that
capItaIIstproductIoncanbynomoanscontontItsoIIwIththoquantItyoI
dIsposabIoIabour-poworwhIchthonaturaIIncroasooIpopuIatIonyIoIds.
RroquIrosIorItsunrostrIctodactIvItyanIndustrIaIrosorvoarmywhIchIs
IndopondontoIthosonaturaIIImIts";8;-8).
Jo ramIhcatIons oIthIs procoss sproad Iar and wIdo to Inuonco
tho doskIIIIng oI Iargo sogmonts oI tho Iabor Iorco and procossos oI
doIndustrIaIIatIon through tochnoIogIcaI chango thathavo bocomo aII
too IamIIIar to us ovor tho past thIrty yoars orso.1ho oxIstonco oIthIs
roIatIvosurpIuspopuIatIontIcaIIyrosuItsInthoovorworkoIthosowho
aroompIoyodsIncothoycanbothroatonodwIthIayohsunIossthoywork
ovortImo and agroo to Incroasotho IntonsItyoIthoIr Iabor. SIncocapItaI
InourtImodoosntIIkotoboartho IndIroct costs oIIuIItImoompIoyoos
hoaIthcaro bonohts andponsIons),thoproIoroncotopushthoompIoyod
toworkovortImo,whothorthoywantItornot,IncroasosovonasthopooI
oI unompIoyod Iabor aIso Incroasos. AgrooIng to ovortImo somotImos
bocomosacondItIonoIompIoymont.JIshasbocomoasorIousprobIom
InuropoInrocontyoars.JorosultIsovorworkandoxcossIvooxpIoItatIon
oIthosowhoaroompIoyod.
Tcovor-workoIthccmploycdpartoIthcworkingcIassswoIIsthoranks
oIits rcscrvc, whIIc convcrscIy thc groatcr prcssurc that tho rcscrvo by
ItscompctItIoncxcrtsonthccmpIoyodworkorsIorcosthcmto submItto
ovor-workandsubjcctsthcmtothcdIctatosoIcapItaI.
JIsbocomosaromarkabIo"moansoIonrIchIngthoIndIvIduaIcapItaIIsts"
;8p) .JoImpactonwagosIsaIsosIgnIhcant."1akIngthomasawhoIo,tho
gonoraI movomonts oIwagos arooxcIusIvoIyroguIatodbytho oxpansIon
z8z t comrtNioN fo mtkx
:
s CAP7AI
thcydcstroythcactuaIcontcntothisIabourbyturningtintoatormcnt,
thcy aIcnatc . . . trom him thc intcIIcctuaI potcntiaItics otthc Iabour
proccss in thc samc proporton as scicncc is ncorporatcd in t as an
indcpcndcntpowcr,thcydctorm thc conditonsundcrwhich hc works,
subjcct hm durng thc Iabour proccss to adcspotsm thc morc atctuI
tor its mcanncss, thcy transtorm his Itc-timc into workng-tmc, and
drag hiswitc and chiId bcncath thc whccIs otthcjuggcrnaut otcapitaI.
utaIImcthodstorthc production otsurpIus-vaIuc arcatthcsamc timc
mcthodsotaccumuIation,andcvcrycxtcnsonotaccumuIationbccomcs,
convcrscIy, a mcans tor thc dcvcIopmcnt ot thosc mcthods. H toIIows
thcrctorcthat in proportion as capit accumuIatcs, thc situation otthc
workcr,bc his paymcnt high or Iow, must grow worsc. naIIy, thc Iaw
which aIways hoIds thc rcIativc surpIus popuIation or industriaI rcscrvc
armyin cguiIibrum with thc cxtcnt and cncrgy otaccumuIaton rivcts
thc workcr to capitaI morc hrmIy than thc wcdgcs otHcphacstus hcId
romcthcustothcrock.H makcsan accumuIatonotmiscryancccssary
condition,corrcsponding to thc accumuIation otwcaIth.ccumuIation
ot wcaIth at onc poIc is, thcrctorc, at thc samc timc accumuIation ot
mscry,thctormcntotIabour,sIavcry,ignorancc,brutaIizationandmoraI
dcgradationatthcoppositcpoIc,i.c.onthcsdcotthccIassthatproduccs
tsownproductascapitaI.(;p8p)
Jssthctamousconcudngthcss aboutthcncrcasngmscraton
otthc proIctaratas a socaIy ncccssary conscgucncc and condition ot
capta!staccumuIaton.A typcaIrcsponsctothsthcssstosaythat t
ssmpIywrong,thatmanyworkcrsotthcworIdarctar bcttcrohtoday
thanthcywcrconchundrcdycarsago andthatwhIctmaybctructhat
thcrcarcst!IsomctcrrbIcworkcondtonsnthctactorcsotChnaand
thc swcatshops ot Hong Kong, thcsc arc tpcaI transtonaI probIcms
cn routc to thc crcaton otbcttcrmatcraIIvngstandardsthatcvcn n
thosc countrcs arc bcgnnng to bc cvdcnccd. So ths s onc otthosc
statcmcntsthatstakcn,somctmcsbMarxstsaswcIIasbycrtcs,tobc
oncotMarx`s hrmprcdctonsthatcansmpIybctcstcdbyappcaItothc
hstorcaIrccord.AndnsotarasthchstorcaIrccorddocsnotsupportt
whoIchcartcdIy, ths sthcntakcnto mcan thatMarx`sanaIyss ssurcIy
wrong.
So I hcrc nccd to torcctuIy rcmnd you ot thc assumptons that
govcrnthcscchaptcrsandcmphaszc onccagathatconcIusons otths
sort arc not absoIutc but contngcnt, broadIy dcpcndcnt on thc Imtng
ctri1ttis1 tccumutt1ioN
assumptionslaidoutatthebeginning.TisistheconclusiontoVolumeI
ofCa/ta|, inwhichthefocusisexclusivelyonthedynamicsofproduction.
Teanalysisproceedspurelyfromthatperspective.Whatwewill6ndatthe
endofVolumeII,writtenfromthestandpointoftherealizationofcapital
inthemarket,issomethingentirelydi6erent.ThereMarxwillconcentrate
ontheproblems ofe6ective demand (whohasthe moneypowertobuy
theexpandingvolumeofproducts). artofthesolutiontothisproblem
hastolieinwhathe there depicts as"rationalconsumptio onthepart
of the working class. He means two things by this. First, the working
cIass musthave sumcient purchasingpower available to itselfto be able
to consume, second, the working class will have acquired consumption
habits congenialto the absorptionofthe surplusproductthatcapitalism
perpetuallygenerates.Soatthe endofVolume II,Marxcitesthewaysin
which bourgeois philanthropy concentrates on teaching the working
classes "proper" consumption habits (much as what happened when
Fordmobilized an armyofsociaI workers to make sure thosewho were
bene6tingfromthe6vedollareight-hourdayheinstitutedinhisfactories
spenttheirmoneywiselyand not ondrink,drugs andwomen).Sowhat
we getatthe end ofVolume IIis completely di6erentstory.lainly, the
working class cannot perform its socialIy necessaryrole as a consumer
demandcenterforcapitaIistproductsiftheVolumeIstoryisaIIthereis.
Sowhat,then,isthepurposeandpointoftheVolumeIstoryItsays
that ifthe worIdwere to operate in this way, then the outcome would
be increasing immiseration of the workers. Ifwe ask whether we see
elementsoftruthinthisconclusion,thentheanswerissurely"yes"ifwe
gotothefactoriesofIndonesia,Bangladesh,VietnamandGuatemala.In
!h0S0 ldC0S,d!0B! I0S0IV0S 0IdD0I dI0 D0IBg H0DIIZ6d uBd6I C0BdIII0B8
ofthe utmost brutality. Indeed,youwill see all te"agony oftoil"that
Marxdescribes.Youdonothavetolookfarto6nddetailedreportsofthe
appallingconditionsoflaborinmanyoftheworld`sproduction centers
(NGO andUN reports arefull ofit,andeventhemainstream presshas
published some searingaccounts). Furthermore, it is one ofthe signal
facts ofthe pastthirtyyears or so ofneoliberal practices and policies
that income inequalities have soared and billionaires have erupted all
over theplace (India,Mexico, China,Russia),making the picture ofan
accumulation ofwealth at one pole and ofmiseryat the other a very
compelling metaphor for describing the conditions of contemporary
globalcapitalism.
z8
(
t comrtNioN fo mtkx:s CAPI7AI
So It Is hardto rcadthcVoIumc I story wIthout rccognIzIng that It
dcpIcts a ccrtaIn, aIbcIt partIaI, truth, partIcuIarIy whcn comparcd
wIththc sItuatIonIn thc advanccdcapItaIIstcountrIcs ofthc pcs and
p6cs,whcn Iabor organIzatIon was rcIatIvcIy strong, socIaIdcmocratIc
tcndcncIcs wcrc domInant and statc IntcrvcntIons, both In productIon
andwIthrcspccttothcdIstrIbutIonofwcaIth,wcrcmorcwIdcIyacccptcd.
InthosctImcs,thcIssucsofratIonaIconsumptIonwcrcmorcsaIIcnt.how
dowccnsurcthatthcworIngcIasspurchascsautomobIIcsWcII,wcbuIId
cItIcsandsuburbsInsuchawaythatthcautomobIIcbccomcsancccssIty
rathcrthanaIuxury,whIch mcans thatworkcrshavctobc paId cnough
tobcabIctoaordautomobIlcsandsuburbanhousIngandaIIthatgocs
wIththIsIIfcstyIc.DurIngthcsctImcs,thcVoIumcIIanaIysIsmadcaIotof
scnsc,andthcVoIumcIconcIusIonssccmcdabItfar-fctchcd.
uch of this has bccn rcvcrscd by thc ncoIIbcral turn that sct In
duringthcp;cs.crchasbccn amassivc cxpansionofthcprolctariat
worIdwIdc as somc two bIIIIon pcopIchavc bccn dIsposscsscd ofthcIr
carIIcr cconomIc basc and brought Into thc proIctarIat cIthcr through
thc dcstructIon ofruraIwaysofIIfcandpcasantcconomIcs as InLatIn
AmcrIca and South AsIa) or through dIrcct govcrnmcnt actIon as In
ChInaandastAsIamorcgcncraIIy).JcprcdIctabIcrcsuItofthIsInIIux
hasbccnthatthcworkIngcIasscsInthccorctradItIonaIccntcrs ofcapItaI
accumuIatIon havc not Improvcd thcIr Iot. AstonIshIng Incrcascs In
wcaIthhavcIIowcdtothctoppcrccntandcvcnmorc,proportIonatcIy,
to thc top c. pcrccnt) ofthc popuIatIon. Jc pursuIt ofthc ncoIIbcraI
projcct has Icd us backInto a worId In whIch thc VoIumc I anaIysIs Is
morcandmorcrcIcvant.
JIs was a conscIous projcct on thc part ofthc ruIIng cIasscs. Jc
"VoIckcr shock,' whIch raIscd UnItcd Statcs Intcrcst ratcs dramatIcaIIy
bcgInnIngInp;p,produccdsurgInguncmpIoymcnt, thIs,whcncoupIcd
wIthPrcsIdcntRcagansattackonorganIzcdIaborbcgInnIngwIthtakIng
on thc aIrtramc controIIcrs' unIon In thc strIkc of p8), was cIcarIy
IntcndcdtodIscIpIIncIabor.Jc8rItIsh cconomIstAIan 8udd,rcHcctIng
onhIs cxpcrIcncc ofbcIngMargarctJatchcr's chIcfcconomIc advIscr,
IatcrconfcsscdastohowashamcdhcfcIt aroundhIsncIghbors,bccausc
"thcp8cspoIIcIcs ofattackIngInHatIonbysqucczIngthccconomyand
pubIIcspcndIngwcrcacovcrtobashthcworkcrs.RaIsInguncmpIoymcnt
was avcry dcsIrabIcwayofrcducIngthc strcngth ofthc workIng cIass.
What was cngInccrcdIn arxIst tcrms-was a crIsIs of capItaIIsm,
ctrifttisf tccumuttfioN 2j
whIch rc-crcatcdarcscrvc armyoIIabor,andhas aIIowcdthccapItaIIsts
to makc hIghprohts cvcr sIncc' Ikc Rcagan,hatchcrattackcdunIon
powcr poIItIcaIIy In a vIoIcnt supprcssIon oI thc mIncr's strIkc In thc
p8cs.AgaIn,thcaImwastodIscIpIIncIabortosccurcprohtsandcndIcss
accumuIatIonhctcrrI|IngthIngaboutMarx'sanaIysIsIsthatsuchan
outcomcIscntIrcIyprcdIctabIc andthatIt couIdbc socasIIyartIcuIatcd
InMarxIsttcrms.
WhatMarxhasdoncInVoIumc! oICui/u/ Istotakcthcwordsand
thcorIcsoIthccIassIcaIpoIItIcaIcconomIstsscrIousIyandaskwhatkInd
oIworIdwouId cmcrgc II thcy got to ImpIcmcnt thcIr utopIan IIbcraI
vIsIonoIpcrIcctIyIunctIonIngmarkcts,pcrsonaIIIbcrty,prIvatcpropcrty
rIghts and Ircctradc.Stcpby stcp,hccxpIorcs whatwouIdhappcn In a
worIdconstructcdInthIsImagc.AdamSmIthhadpurportcdtoshowthat
natIonaIwcaIthwouIdgrowandthatcvcryoncwouIdorcouIdbcbcttcr
ohIn aworId oIdcccntraIIzcd and IrccIy IunctIonIngmarkcts (though
SIthhImscIIdIdnotabsoIvcthcstatcIromrcsponsIbIIItIcswhcnItcamc
tothcdIstrIbutIonoIthatwcaIthaIongmorccquItabIcIIncs) .WhatMarx
showsIsthataworIdconstructcdaIongpurc/ui::cz-[uirc IIncswouIdIn
ItscII producc an IncrcasIng accumuIatIon oIwcaIth at onc poIc and a
burgconIngaccumuIatIonoImIscryat thcothcr.So whowouIdwantto
constructthcworIdaccordIngtothcruIcsoIthIsutopIanvIsIonAndthc
answcrIsstunnIngIyobvIous.thcwcaIthymcmbcrsoIthccapItaIIstcIass!
SowhoprcachcstousthcvIrtucsoIthIsutopIanIrcc-markctvIsIon,and
whohasputusonourcontcmporaryncoIIbcraIpathSurprIsc,surprIsc!
RwasthcwcaIthywhouscdthcIrmoncypowcrtopcrsuadcaoIusthat
thcmarkctIsaIwaysrIghtandthatMarxIanthcoryIsnonscnsc.
cncoIIbcraIprocct(as!showIn/ bric[ Hi:/or] o[Nco/i0cru/i:m')
has bccn dIrcctcd toward thc IncrcasIng accumuIatIon oI wcaIth and
thc IncrcasIngapproprIatIon oIsurpIus-vaIuc on thc part oIthc uppcr
cchcIons oI thc capItaIIst cIass. And In pursuIng that objcctIvc, thc
capItaIIst cIass has takcn thc typIcaI path as outIIncd In thc modcIs
oI capItaI accumuIatIon sct out In VoIumc !. 8rIng wagcs down and
crcatc uncmpIoymcnt by tcchnoIogIcaI changcs that dIspIacc workcrs,
ccntraIIzc capItaIIst powcr, attack workcrs' organIzatIons as IntcrIcrIng
2. Scc 1hc Ooscrvcr, ]unc 2I , I2.
3. Davd Harvcy, A ric] Histor] o] Nco/iocm/ism (Ncw York. xIord
Lnvcrsty Prcss, 2005).
z86 t comrtNioN :o mtkx's CAPI7AI
wIth thc markct coordInatIonoIsuppIyand dcmand whcn,aswchavc
sccn,capItaI works onbothsIdcsoIthcmarkct),outsourccandoshorc,
mobIIIzcIatcntpopuIatIonsaroundthcworIdanddcprcsswcIIarcIcvcIs
asIaras possIbIc.JIs Is what ncoIIbcraI "gIobaIIzatIo hasrcaIIybccn
about. Jc socIaIIy ncccssary condItIons havc bccn crcatcd,vcry much
In accord wIth thc VoIumc ! anaIysIs, Ior thc Immcnsc accumuIatIon
oIwcaIth at onc poIc at thc cxpcnsc oIcvcryonc cIsc. Jc probIcm, oI
coursc, Is that thIs kInd oIncoIIbcraI capItaIIsm can survIvc onIy"by
sImuItancousIyundcrmInIngthc orIgInaI sourccs oIaIIwcaIth-thc soII
andthcworkcr"(6]).
8utthIsIsnotthconIyoutcomcconsIstcntwIthMarx'sanaIysIs.Marx
poInts InthIs chaptcrtothcIncvItabIIItyoIthcIncrcasIngconccntratIon
andccntraIIzatIonoIcapItaIundcrcondItIonsoIIrccmarkctutopIanIsm.
IntcrcstIngIy,thIshasaIsobccn amarkcdIcaturcoIthcpastthIrtyycars
ot ncoIibcraIization (Iook at cncrgy, pharmaccuticaIs, thc mcdia and
abovc aIIatthc IncrcasIngccntraIIzatIon oIhnancIaIpowcr) . xccssIvc
Irccdoms oIthc markct aIways producc a trcnd toward morc oIIgopoIy
andcvcnmonopoIyaIactthatIs rccognIzcdInantItrustIcgIsIatIonand
somc statc monItorIng-thcsc days IargcIy InccctIvc-oImcrgcrs and
monopoIIcs).MotonIydocswcaIthaccumuIatc,ItccntraIIzcsInthchands
oIanIncrcasIngIypowcrIuIcapItaIIstcIass!8utthIsaIsoposcsaprobIcm.
Whathappcnswhcnthc condItIonsIorharmonydchncdInthcVoIumc
I! anaIysIs turn so contradIctory-prccIscIybccausc oIthc poIarIzatIon
oIwcaIth-astogcncratcashuddcrIngcrIsIsoIthcsortthatbrokcoutIn
zccPcrhapsItIsno accIdcnt thatthc onIypcrIodInUShIstorywhcn
wcaIth dIstrIbutIon was asIopsIdcdasIt Istodaywasthcpzcsandthat
wc arcnowsccIngarcrun oIthcpzp coIIapscInzcc.
ItIs,!thInk,ImmcnsctcstImonytothcstrcngthoIMarx'sanaIysIsand
thcpowcr oIhIs mcthod thathc cangct us to scc cIcarIyaspccts oIthc
hIstorIcaIdynamIcthatsoohcnrcmaInhIddcn,whIIchcsImuItancousIy
conIronts thc sImmcrIng contradIctIons and powcrIuI IdcoIogIcaI
constructIonsthatproduccandIcgItImatcthckIndsoIrcsuItshcprcdIcts.
How many Massau ScnIors arc thcrc In our cconomIcs dcpartmcnts!
Jus It IsapproprIatcto dcIcndhIscondItIonaIstatcmcnts,rccognIzIng
thatwhIIc thcy arc notthcwhoIc story,thcy arc stIII avItaIand aIItoo
casIIyrccognIzabIcaspcctoIwhat'sunIoIdIngwIthIncapItaIIsmtoday.Hc
hasIndccdspcIIcdout"/hc u0:o/u/c gcncm/ /uw o[cui/u/i:/ uccumu/u/ion"
In no unccrtaIn tcrms, cvcn as hc aIso rccognIzcs that"IIkc aII othcr
ctri1ttis1 tccumutt1ioN 2
Iaws,ItIs modIhcdInIts workIngbymany cIrcumstanccs,thc anaIysIs
oIwhIch docs not conccrn ushcrc" (;p8). c gcncraI Iaw Is a brIIIant
cxposItIon oIwhcrc Ircc-markct and IIbcraI utopIanIsm wIII takc us II
ImpIcmcntcd, andtothc dcgrccthat thc ncoIIbcraI IdcoIogIcaIturn has
takcnthcscshIbboIcths,drcsscdthcmupInncwguIscsandIndccdsought
to ImpIcmcnt thcm, It has actuaIIytakcn us In thc dIrcctIon that Marx
prcdIcts,rcpIctcwIthcontradIctIons.Wccan,!thInk,takcInsIghtthough
absoIutcIyno comIort,and acquIrc sIgnIhcant dIagnostIc powcr,Iroma
carchIrcadIngoIMarx'stcxtandadccpapprccIatIonoIhIsmcthod.
CHAPTER ELEVEN
JC bCCtC! OI !tm!VC CCumu8!On
oroIsamarkodshIhIntono,contontandmothoInpart8oICui/u/.
1obogInwIth,It goos agaInstthocontraIprosumptIon oIthorostoItho
book, ostabIIshodbackIn chaptor2, whoro Marx accoptsAdam SmIts
thoorotIcaI worId oI atomIstIc markot oxchango In whIch Iroodom,
ouaIIty, proportyand 8ontham ruIo In such awaythataII commodIty
oxchangos occur In anoncoorcIvoonvIronmontoIproporIyIunctIonIng
IIboraI InstItutIons. SmIth know porIoctIywoII that thIs Is not how tho
worIdactuaIIyIs,buthoaccoptodItasaconvonIontandcompoIIInghctIon
on whIch to buIId a normatIvo poIItIcaI oconomIc thoory.Marx, as wo
havosoon,takosthIsaIIonboardInordortodoconstructItsutopIaIsm.
8ythIsstratogom,MarxwasabIotoshow,aswosawInthoIastchaptor,
that tho cIosorwo gotto a rogImo oIIIboraI markot actIon,tho moro wo
wIIIhndoursoIvos conIrontIngtwo sIgnIhcantconsouoncos.omInor
consouoncoIsthatthodocontraIIzod,IragmontodandatomIstIcstructuro
that wouId provont any sIngIo powor cornorIng and manIpuIatIng tho
markotgIvoswaytoIncroasIngIycontraIIzodcapItaIIstpowor.CompotItIon
aIways tonds toproduco monopoIy, andtho horcortho compotItIon,tho
Iastorthotondoncytoward contraIIzatIon. JomajorconsouoncoIstho
productIonoIimmonsoconcontrationsoIwoaIthatonopoIoparticuIarIy
onthopartotthocontraIiingcapitaIists) andIncroasingmisory,toiIand
dogradatIonIorthoworkIngcIassatthoothorpoIo.
o nooIIboraI projoct oI tho past thIrtyyoars,groundod In IIboraI
utopIanism, has succossIuIIy conIormod to both oI Marx's prodIctod
tronds.OIcourso,thoroIsagooddoaIoIdIvorgonco,goographIcaIaswoII
as soctoraI,In thodotaIIs,butthodogroooIcontraIIzatIonoIcapItaIthat
has occurrod InvarIous sphoros has boon strIkIng,and thoro Is gonoraI
acknowIodgomontthatthoImmonsoconcontratIonsoIwoaIthoccurrIng
at thovorytopoIthowoaIthandIncomoscaIohavonovorboon asgroat
asthoyaronow,whIIocondItIonsamongthoworkIngcIassosoIthoworId
havo oIthorstagnatod or dotorIoratod. !ntho UnItod Statos,Ior oxampIo,
tho proportIon oI tho natIonaI Incomo and woaIth hoId by tho top 1
2QO t comrtNioN fo mtkx: s CAPI7AI
pcrccnt oIthc popuIatIon has doubIcd ovcr thc past twcnty ycars, and
Iorthctop c. pcrccnt Ithas trIpIcd. 1hcratIo oIIncomc bctwccn COs
andthcIrmcdIansaIarIcdworkcrs,whIch stoodat]cbackInp;c,has
soarcd to morc than ]c on avcragc thcsc past Icw ycars.Whcrcvcr
ncoIIbcraIIzatIonhasbccnrampantasInMcxIcoandIndIa sInccppcor
so),bIIIIonaIrcshavcsuddcnIycmcrgcdonthcIor0c: IIstoIthcwcaIthIcst
IndIvIduaIsInthcworId.CarIosSIImoIMcxIco IsnowrankcdasoncoI
thc wcaIthIcst pcopIc In thc worId,and hc rosc to thatposItIon on thc
backoIthcwavcoIncoIIbcraIIzatIonthatoccurrcdInMcxIcoInthccarIy
nInctIcs.
Marx arrIvcd at thcsc countcrIntuItIvc concIusIons through
dcconstructIng thc cIassIcaI poIItIcaI cconomIsts' proposItIons on thcIr
own tcrms. 8ut hc aIs uscd thcIr powcrIuI abstractIons crItIcaIIy, to
probc crcatIvcIy Into thc actuaI dynamIcs oI capItaIIsm and so rcvcaI
thcriginsfstrugglcvcrthcIcngth ofthcwrkingday, thc strugglcs
surroundIngthccondItIonsoIIIIcoIthcIndustrIaIrcscrvcarmyandthc

IIkc.JcanaIysIsoIVoIumcIcanbcrcadasasophIstIcatcdanddamnIng
accountoIwhy"thcrcIsnothIngmorcuncquaIthanthccquaItrcatmcnt
oIuncquaIs'JcIdcoIogyoIIrccdomoIcxhangcandIIbcrtyoIcontract
guIIsusaII.1hIsgroundsthcmoraIsupcrIorItyandhcgcmonyoIbourgcoIs
poIItIcaIthcoryand undcrpIns ItsIcgItImacyand supposcd humanIsm.
8utwhcnpcopIccntcrthIsIrccandcgaIItarIanworIdoImarkctcxchangc
wIthdIhcrcntrcsourcccndowmcntsanddIhcrcntasscts,thcncvcnmInor
IncquaIItIcs, Ict aIonc thc major dIvIdc oIcIass posItIon, gct magnIncd
and compoundcd vctImc Into hugc IncquaIItIcs oIInHucncc,wcaIth
andpowcr.Whcn coupIcd wIth IncrcasIngccntraIIzatIon,thIs makcsIor
Marx's dcvastatIngrcvcrsaI oI thc SmIthIanvIsIon oI"thc bcncht oI aII"
thatdcrIvcsIromthchIddcnhandoImarkctcxchangc.JIscnIIghtcnsus
mIghtIIyastothccIass contcntoIwhat,IorcxampIc,thcpast thIrtyycars
oI markct-bascd ncoIIbcraI gIobaIIzatIon havc rcaIIy bccn about. Jc
upshotIorMarxIsahcrcccrItIqucoIthcthcscsoIIndIvIuaIIIbcrtyand
Irccdom thatgroud IIbcraI and ncoIIbcraI thcory. Jcsc IdcaIs arc, In
Marx'svIcw,asmIsIcadIng,hctIonaIandIrauduIcntasthcyarcscductIvc
andbcguIIIng.Laborcrs,hccarIyonobscrvcd,arcIrcconIyInthcdoubIc
scnsc oIbcIngabIc to scIIthcIrIabor-powcr towhomsocvcrthcychosc
atthc samc tImc as thcyhavc to scII that Iabor-powcrIn ordcr to IIvc
bccauscthcyavcbccnIrccdandIIbcratcdIromanyand aIIcontroIovcr
thcmcansoIproductIon!
rkimi1ivr tccumutt1ioN 2Q1
What part 8 ofCui/u/ doos Is to tako up tho quostIon ofhow thIs
socond kInd of"froodom"was socurod. Horo wo aro forcod to confront
thothIovory,prodatIon,vioIonco andabusIvo uso ofpoworthatIayat tho
hIstorIcaIorIgInsofcapItaIIsmasItfroodupIabor-poworasacommodIty
anddIspIacodanoarIIormodo ofproductIon.1ho assumpt

onsthathavo
domInatodtho argumont Inthohrst sovon parts ofCui/u/ aro cast asIdo
wIthbrutaIconsoquoncos.
CapItaIIsmdopondsfundamontaIIy,aswohavosoon,onacommodIty
capabIoofproducIngmorovaIuothanItItsoIfhas,andthatcommodItyIs
Iabor-powor."WhythIsfrooworkor'MarxobsorvodoarIyonInCui/u/,
confronts hImInthosphoro ofcIrcuIatIon Is aquostIon whIch doos not
Intorosttho ownor ofmonoyforho hnds thoIabour-markotIn oxIstonco
as apartIcuIarbranch oftho commodIty-markot.And for tho prosont It
Intorostsusjust as IIttIo.oconhnooursoIvosto tho factthoorotIcaIIy, as
ho doos practIcaIIy. Ono thIng, howovor,IscIoar.naturo doos notproduco
on tho ono hand ownors of monoy or commodItIos, and on tho othor
hand mon possossIngnothIngbutthoIrownIabour-powor. TIs roIatIon
has no basIs In naturaI hIstory,nor doos Ithavo a socIaI basIs common
to aII porIods ofhumanhIstory.It IscIoarIythorosuItofapasthIstorIcaI
dovoIopmont,thoproductofmanyoconomIcrovoIutIonsofthooxtInctIon
ofawhoIo sorIos ofoIdorformatIonsofsocIaIproductIon.(;])
PrImItIvoaccumuIatIonIsaboutthohIstorIcaIorIgInsofthIswagoIabor,
aswoIIasabouttho accumuIatIon ofthonocossaryassotsInthohands of
thocapItaIIst cIasstoompIoythom.
Part 8 thoroforo addrossos tho contraI quostIon ofhow Iabor-powor
camo a commodIty or, morc gcncraIIy, how thc working ass was
formod).1hostandardbourgooIs storydovIsodbyLockoandSmIthwas
that
Iong,IongagothoroworotwosortsofpoopIo, ono,thodIIIgont,IntoIIIgont
andabovoaIIfrugaIIIto,thoothor,IayrascaIs,spondIngthoIrsubstanco,
andmoro,InrIotousIIvIng. . thoformorsortaccumuIatodwoaIth,andtho
Iattor sorthnaIIyhadnothIngto soII oxcopt thoIrownskInsAndfromthIs
orIgInaI sIn datos tho povortyoftho groat majorItywho, dospIto aII thoIr
Iabour,havoupto now nothIngto soIIbut thomsoIvos,and thowoaIhof
thofowthatIncroasosconstantIy,aIthoughthoyhavoIongcoasodtowork.
(8;])
2Q2 t comrtNioN fo mtkx:s CAP7AI
JIsstandardstorydcpIctsthctransItIonIromIcudaIIsmtocapItaIIsmas
graduaIandpcaccIuI.8ut"InactuaIhIstory'Marxargucs,ItwasanthIng
but.
ItIsanotorIousIactthatconqucst,cnslavcmcnt,robbcry,murdcr,Inshort,
Iorcc,playthc grcatcst part. In thc tcndcr annals oIpolItIcal cconomy,
thc IdyllIc rcIgns Irom tImc ImmcmorIal. Ight and labour' wcrc Irom
thc bcgInnIngoItImc thc solcmcans oIcnrIchmcnt,thIsycar'oIcoursc
alwayscxccptcd.(8;()
JIsIsso,bccauscthcproccss
whIch crcatcsthccapItalrclatIon can bc nothIng othcrthanthcproccss
whIch dIvorccs thcworkcr Irom thcowncrshIp oIthccondItIonsoIhIs
ownlabour,ItsaproccsshIchopcratcs o transIormatIons,whcrcby
thc socal mcans oIsubsIstcncc and productIon arc turncd Into capItal,
and thc ImmcdIatc produccrs arc turncd Into wagc-labourcrs. So-calIcd
prImItIvc accumulatIon, thcrcIorc, Is nothIng cIsc than thc hIstorIcal
proccss oI dIvorcIng thc produccr Irom thc mcans oI productIon It
appcarsasprImItIvc'bccauscItIormsthcprc-hIstoryoIcapItal,andoIc
modcoIproductIon corrcspondIngtocapItal.(8;()
As a mattcr oIhIstorIcaIIact, thc hIstoryoIprImItIvc accumuIatIon "Is
anythIng but IdyIIIc 8;(). R "Is wrIttcn In thc annaIs oImankInd In
IcttcrsoIbIoodandhrc8;).
Marx'saccount,radIcaIIyatoddswIththatoISmIthandLockc,poscs
somcIntcrcstIngqucstIons.FIrst,arcmcrchant'scapItaIandhnancccapItaI
andusurysImpIyantcdIIuvIan Iorms,or do thcystIII havc avcryactIvc
roIc, Indcpcndcnt oIproductIon capItaI, IndustrIaI capItaI and thc IIkc
Marxhad aIso carIIcr obscrvcd that"wc shaII hnd thatboth mcrchants'
capItaIandIntcrcst-bcarIngcapItaIarcdcrIvatIvcIorms'atthcsamctImc
as"ItwIII bccomc cIcarwhy, hIstorIcaIIy, thcsctwo Iorms appcarbcIorc
thc modcrn prImary Iorm oIcapItaIz6;). Jc ImpIIcatIon Is that thc
transItIon Irom IcudaIIsm to capItaIIsm occurrcd In stagcs such that
mcrchants'capItaIandusurypIonccrcdthcwayIorthcrIscoIproductIon
IndustrIaI capItaI. c roIc thcsc carIIcr Iorms oIcapItaIpIaycd In thc
dIssoIutIonoIthcIcudaIordcrIsthcrcIorcopcntoInvcstIgatIon.
Sccond, docs thIs mcan that oncc capItaIIsm has gonc through
prImItIvcaccumuIatIon,onccthcprchIstoryIsovcrandamaturccapItaIIst
rkimi1ivr tccumutt1ioN 2Q]
socIctyhascmcrgcd,thatthcvIoIcntproccsscshchcrcdcscrIbcsbccomc
InsIgnIncantandnoIongcrncccssarytohowcapItaIIsmworksJIsIsa
qucstIontowhIchIwIIIrcturn.8utbcarItInmIndaswcgoIorward.
InMarx'svcrsIon oIprImItIc accumuIatIon, aII thc ruIcs oImarkct
cxchangc carIIcr IaId out (In chaptcr z) arc abandoncd. Jcrc Is no
rccIprocIty,nocquaIIty.cs,thcaccumuIatIonoImoncyIsthcrc,markcts
oI a sort arc thcrc, but thc rcaI proccss Is somcthIng cIsc. It Is about
thc vIoIcnt dIsposscssIon oIawhoIccIass oIpcopIc Irom controIovcrthc
mcansoIproductIon,athrstthroughIIIcgaI acts,butuItImatcIy, asInthc
cncIosurcIcgIsIatIonIn8rItaIn,throughactIonsoIthcstatc.AdamSmIth,
oIcoursc,dIdnotwantthcstatctobc construcdasanactIvcagcntInthc
vIctImIzatIon oIa popuIatIon, so hc ccrtaInIy couId not tcII a story oI
prImItIvc accumuIatIon InwhIchstatcvIoIcnccpIaycd a crucIaIroIc. II
thcorIgInsoIcapItaIaccumuIatIonIIcwIththcstatcapparatus andstatc
powcr,thcnwhynowadvocatc /ui::cz-[uirc poIIcIcs as aprImarymcans
to augmcnt natIonaI and IndIvIduaI wcII-bcIng ConscqucntIy, SmIth,
aIongwIthmostothcrcIassIcaIpoIItIcaIcconomIsts,prcIcrrcdtoIgnorc
thc roIc oIthc statc In prImItIvc accumuIatIon. Jcrc wcrc cxccptIons.
JamcsStcuart,Marx notcs,ccrtaInIyundcrstoodthatstatcvIoIcnccwas
absoIutcIyccntraIto proIctarIanIzatIonbuttookthc posItIonthatItwas
a ncccssarycvIIMIchacI PcrcImas book 1c Invcn/ion o[ Cui/u/i:m'
provIdcsancxccIIcntaccountoIhoworIgInaIorprImItIvcaccumuIatIon
washandIcdwIthIncIassIcaIpoIItIcaIcconomy.
Marx'sprImaryconccrnInpart8IstounravcIthchIstoryoIprImItIvc
accumuIatIonIromthcsIxtccnthccnturyonwardandtoInvcstIgatchow
thcscproccsscswcrcsctInmotIon.HcrcadIIyadmIts,oIcoursc,that
thc hIstory oI thIs cxproprIatIon assumcs dIhcrcnt aspccts In dIhcrcnt
countrIcs, and runs through Its varIous phascs In dIhcrcnt ordcrs oI
succcssIon,andat dIhcrcnthIstorIcaI cpochs.OnIyInngIand,whIchwc
thcrcIorctakcas ourcxampIc,hasIt thc cIassIcIorm.(8;6)
Docs"cIassIc"mcanthatItwasatcmpIatcIorthctransItIontocapItaIIsm
that cvcrybody around thc worId had to IoIIow Marx Iatcr on dcnIcd
thIs IntcrprctatIon and statcd that hc vIcwcd 8rItaIn as but onc, aIbcIt
I . MichacI PcrcIman, 1hc Invcntion o] Ccitc/ism. C/cssicc/ Io/iticc/ Lconom]
cnJ thc Sccrct Histor] o] Irimitivc Accumu/ction (Durham, NC. Dukc Univcrsiq
Prcss, 2000).
z
( t comrtNioN fo mtkx

s CAPI7AI
spccIaIandpIonccrIng,cxampIc.AgaIn,thcsc arc controvcrsIaI Issucsto
whIchwcwIIlhavctorcturn.HowwcthInthcmthroughhasrclcvancc
to anothcrImportantbutIargcIyoccIudcd qucstIon IsIt ncccssarytogo
through prImItIvc accumuIatIon and thc long hIstory of capItalIsm In
ordcrtoarrIvcatsocIaIIsm
CHAPTERS 2__. PRIMITIVE ACCUMULATION
1hc chaptcs ofpart 8 arc rcIatIvcIy short and arrangcd In a scqucncc
that has cIcar ImpIIcatIons. I shalI consIdcr thcm brIcHy, poIntIng out
somc sIgnIhcant cIcmcnts. Chaptcr z; dcaIs wIth thc cxproprIatIon of
thc agrIcuIturaI popuIatIon, as wcII asthc cquaIIy Important proccss of
thcdIssoIutIonofthcbandsoffcudaIrctaIncrs.1hcapproprIatIonofthc
Iandwas thc prImarymcans to dIsposscss thc pcasantry, but rclcasc of
thc rctaincrs ovcd as much to thc vay in vhich moncy povcr bcgan to
bccxcrcIscdwIthIn andovcrthc fcudaI ordcr c.g.,bymcrchant capItaI
andusury) ."1hc ncwnobIIItywasthcchIldofItstImc,forwhIchmoncy
was thc powcr of alI powcrs" 8;p). In thc Grundri::c, Marx Is rathcr
morc cxpIIcIt. Hc thcrc wrItcs ofhow moncy dIssoIvcs thc tradItIonaI
communIty,andIndIssoIvIngthctradItIonaIcommunIty,moncybccomcs
thccommunIty.SowcmovcfromaworldInwhIch"communIty"Isdchncd
Intcrmsofstructurcs ofIntcrpcrsonaIsocIaIrcIatIons to aworIdwhcrc
thccommunItyofmoncyprcvaIIs.Moncyuscd as socIal powcrIcadsto
thccrcatIonofIargcIandcdcstatcs,Iargcshccp-farmIngcntcrprIscsandthc
IIkc,atthcsamc tImcascommodItycxchangcproIIfcratcs an Idca madc
much ofIn thc carlychaptcrs on moncyand cxchangcIn gcncraI).1hc
tradItIonaIcommunItydocsnotyIcIdwIthoutastruggIc,andInthcInItIaI
stagcs,atIcast,statcpowcrattcmptstoprcscrvcwhatE.P1hompsonIatcr
caIIcd"thcmoraIcconomy"ofthcpcasantryagaInstrawmoncypowcr.
8ut statc powcr graduaIIy yIcIds for two rcasons. Irst, thc statc
dcpcndson andthcrcbybccomcsvuIncrabIc to moncypowcr.SccondIy,
moncypowcr can bc crcatcd and mobIIIzcdInwaysthatstatcIcgIsIatIon
has dImcuIty stoppIng. Undcr Hcnry V!!, acts wcrc passcd tryIng to
hoId back thc proccss ofmonctIzatIon and proIctarIanIzatIon. 8ut thc
rIsIng powcr of IncIpIcnt capItaIIsm dcmandcd "thc rcvcrsc of thIs
a dcgradcd and aImost scrvIIc condItIon of thc mass of thc pcopIc,
thcIr transformatIon Into mcrccnarIcs,and thc transformatIon ofthcIr
mcans ofIabour Into capItaIJc"forcIbIc cxproprIatIon ofthc pcopIc
rkimifivr tccumuttfioN z
rcccIvcd ancwandtcrrIbIc ImpuIsc InthcsIxtccnth ccntury'andahcr
that,thcrcsIstanccoIthctradItIonaI soIaI ordcrstartstocrumbIc 88]).
!nstcad oIthcIIIcgaIItIcs oImoncypowcr takIng a subvcrsIvc Icad,thc
statc aIIIcs wIth moncy powcr and starts to actIvcIy support proccsscs
ofproIctarIanIzatIon. JIs trcnd consoIIdatcs, Marx suggcsts,wIth thc
GIorIousRcvoIutIonoI688,whIch
brought Into powcr, along wIth IllIam of Orangc, thc landcd and
capItalIstprot-grubbcrs.1hcyInauguratcd thcncwcrabypractIsIng
on a colossal scaIc thc thcfts of statc landswhIch had hIthcrto bccn
managcd morc modcstIy. 1hcsc cstatcs wcrc gIvcn away, soId at
rIdIculous prIccs, orcvcnanncxcdto prIvatc cstatcsby dIrcct scIzurc
. . . 1hc Crown lands thus fraudulcntIy approprIatcd, togcthcr wIth
thc stolcn Church cstatcs, . . form thc basIs ofthc prcscnt prInccIy
domaInsofthcnglIsholIgarchy. (88()
OnthIsbasIs, ncwandmorc powcrIuI cIass aIIIanccs Iorm."Jc ncw
IandcdarIstocracywasthcnaturaIaIIyoIthcncwbankocracy,oIncwIy
hatchcd hIgh hancc, and oI tc Iargc manuIacturcrs, at that tImc
dcpcndcnt onprotcctIvc dutIcs'Inothrwords,thcrc Is aIormatIon oI
abourgcoIsIcmadcupoIIandcdcapItaIIsts,mcrchantcapItaIIsts,hnancc
capItaIIsts and manuIacturng cpItaIIsts In broad aIIIancc. Jcy bcnd
thcstatcapparatustothcIrcoIIcctIvcwIIIsarcsuIt,"thcIawItscIInow
bccomcsthcInstrumcntbywhIctc

copIc'sIandIsstoIcn,aIthoughthc
bIgIarmcrsmadcuscoIthcIrIIttIcIndpcndcntmcthodsaswcII'
So thcrc Is a systcmatIc thch oIcommunaI propcrty whIch gocs on
durIngthIspcrIod,spcarhcadcdbyagrandmovcmcntoIcncIosurcofthc
ommon.e"IorIbIeusurpatIon,geeraIIyaompanIcdbythcturning
oI arabIc Into pasturc Iand, bcgIns at thc cnd oIthc hhccnth ccntury
and cxtcnds Into thc sIxtccnt 88). 1hcsc cIrcumstanccs,IncIdcntaIIy,
spawncasIgnIhcantIItcaturc oInostaIgIaIor thcIossoIthcoIdordcr.
JIswasthcworIdoIOIIvcr GoIdsmIth andGray'scIcgy,IamcntIng thc
dcstructIon oIasupposc"McrrIc ngIand'Marxchooscsto commcnt
on a Iatcr cxampIc,thc spcctacuIar casc oIthc HIghIand cIcaranccs In
ScotIand, whIch dIsposscsscd thc crohcrs oI thcIr Iand In wavc ahcr
wavcuntIIthcIatcrnInctccnthccntury.HcrcvcIsInthchypocrIsyoIthc
DuchcssoISuthcrIand,who,whIIcsImuItancousIycxpcIIIngpcopIcIrom
thc Iand Inthc HIghIandsthrougaquasI-IcgaIproccss,"cntcrtaIncdMrs
z6 t co:rtNioN fo :tkx: s CAP7AI
8ccchcrStowc,authorcssoILnc/c 1oms Cu0in, wIth grcatmagnIhccncc
In London to showhcrsympathyIorthc Mcgro sIavcsoIthcAmcrIcan
rcpubIIc"(8pz) .
SummarizIng,Marxwritcs.
Tc spoliation otthcChurchs propcrty, thc traudulcnt alicnation otthc
statcdomains,thcthcotthccommonlands,thcusurpationottcudaland
clanpropcrtyanditstranstormationinto modcrnprivatcpropcrtyundcr
circumstanccs ot ruthIcss tcrrorism, aII thcsc things wcrc just so many
idyllic mcthods otprimitivc accumulation. Thcy conqucrcd thc cldtor
capitalistagriculturc,incorporatcdthc soilintocapital a vcry intcrcsting
phrasc ,andcrcatcdtorthcurbanindustricsthcncccssarysupplicsottrcc
andrightlcssprolctarians.)
JcqucstionotwhataIIthcscpcoplckickcdothclandarcgoingtodo
stacnup nchaptcrz8.Ocnthcrcas nocmploymcntorthcm,so
thcybccamc,Inthccycs oIthcstatcatIcast,vagabonds,bcggars,thicvcs
and robbcrs. 1hc statc apparatus rcspondcd In ways that contInuc to
thIsday.It crImInaIIzcdandIncarccratcdthcm,dcpIctcdthcmasrogucs
and vIsitcd thc utmost vIoIcncc on thcm. "Jus wcrc thc agrIcuIturaI
IoIk hrst IorcIbIy cxproprIatcd Irom thc soII, drIvcn Irom thcIr homcs,
turncd Into vagabonds, and thcn whIppcd, brandcd and torturcd by
grotcsqucIytcrrorIstIcIawsIntoacccptIngthcdIscIpIIncncccssaryIorthc
systcmoIwagc-Iabour'hcvIoIcnccoIthcsociaIIzatIonoIworkcrsInto
thc dIscIpIInaryapparatus oIcapItaI Is at hrst transparcnt. 8ut wIth thc
passIngoItImc,"thcsIIcntcompuIsIonoIcconomIcrcIatIonssctsthcscaI
onthcdomInatIonoIthccapItaIIstovcrthcworkcr'OnccthcproIctarIat
Is Iormcd,Marxhcrc sccms to bc sayIng,thcnthc sIIcnt compuIsIon oI
cconomIcrcIatIons docsItsj ob andthcovcrtvioIcncc canIadcIntothc
background, bccausc pcopIc havc bccn socIaIIzcd Into thcIr sItuatIon
as wagc Iaborcrs, as bcarcrs oI thc commodIty Iabor-powcr. 8ut "thc
rIsIngbourgcoisIc"contInucsto nccd"thcpowcroIthcstatc"torcguIatc
wagcs,toprcvcntanykIndoIcoIIcctIvcorganIzatIon oIthcworkcrantI
unIon IcgIsIatIon and what at thc tImc wcrc caIIcd thc CombInatIon
Laws,bannIngworkcrs'assocIatIons orcvcnasscmbIIcs) (8pp).ThIswas
a crucIaI support, Marx poInts out, to thc consoIIdatIon oIthc IIbcraI
rcgImcIoundcdonprIvatcpropcrtyrIghts).
rkimifivr tccumuttfioN 2Q)
urIngthc vcry rst storms ofthc rcvolutIon, thc rcnch bourgcoIsIc
darcdtotakcawayfromthcworkcrsthcrIghtofassocIatIonthcyhadjust
acquIrcd.8yadccrccof:|unc;pthcydcclarcdthatcvcrycombInatIon
bythcworkcrswasanassaultonlIbcrtyandthcdcclaratIonofthcrIghts
ofma(p)
8ourgcoIslcgalItyIsuscdInthIsvcryspccIhcwaytoInhIbItthcpotcntIal
collcctIvcpowcrsoflabor.
Chaptcr zp cxamIncs thc gcncsIs ofthc capItalIst farmcr. Marx hcrc
tclls a vcry sImplc talc of how baIlIhs bccamc sharccroppcrs bccamc
tcnantfarmcrsandthcncamctopaygroundmoncy)rcnttolandlords.
JIs proccss of monctIzatIon and commodIhcatIon undcrpInncd
an "agrIcultural rcvolutIon" on thc land, whIch pcrmIttcd capItal to
command thc soIl In ccrtaIn ways. CapItal cIrculatcd through thc soIl,
thrughnaturc,IncxactlythcsamcwaythatItcamctocIrculatcthrough
thcbodyofthclaborcrasvarIablccapItaIJcImpactofthIsagrIcultural
rcvolutIon,hcsays In chaptcr ]c, was doublc-cdgcd. Mot only dId It sct
frccalotoflabor,ItalsosctfrccmcansofsubsIstcnccformcrlyconsumcd
on thc land dIrcctly. H commodItIzcd thc food supply. Jc markct for
goods andcommodItIcsgrcw,InpartbccauscfcwcrpcoplccouldsubsIst
on thcIr own. Jc rcsult was an cxpansIon ofmarkctcxchangc and an
Incrcasc In thc sIzc ofthc markct. Mcanwhlc, capItal was dcstroyIng
manyofthc subsIdIary artIsanal andhouscholdtradcsnotonlyIn IndIa
but also In 8rItaIn. 1hIs rcsultcd Inthc crcatIon ofastrongcrandlargcr
domcstIc markct.JcgrowthofthcIntcrnalmarkctIn8rItaIn fromthc
sIxtccnth ccnturyonward was,InMarx'svIcw,an Important clcmcnt In
thcdcvclopmcntofcapItalIsm.
Is lcads us to consIder, i chaptcr thc gecsis otthc industrial
capItalIstwhotakcsovcrthclcadIngrolcfrommcrchant'scapItal,usurcr's
capItal,thcbankocracyhnancc capItal)andlandcdcapItaI1hIstakcovcr
from thc vcry bcgInnIng was tIghtly Intcgratcd wIth colonIalIsm, thc
slavctradcandwhathappcncdInAfrIcaandInthcUnItcdStatcs.Undcr
fcudalIsm,thcrc wcrc manybarrIcrs to turnIngthcgrowIngquantIty of
moncy capItal Into IndustrIal capItaI "1hc fcudal organIzatIon of thc
countrysIdcandthcguIldorganIzatIonofthctowns"InhIbItcdIndustrIal
dcvclopmcnt bascd on wagc labor, but"thcsc fcttcrs vanIshcd wIth thc
dIssolutIon ofthc fcudal bands ofrctaIncrs, and thc cxproprIatIon and
partIalcvIctIonofthcruralpopulatIon'8ut,MarxprcscIcntlynotcs,
z8 t comrtNioN fo mtkx:s CAPI7AL
thc ncw manutacturcs wcrc cstabIshcd at sca-ports,orat ponts nthc
countrysdcwhchwcrcbcyondthccontroIotthc oIdmuncpaItcsand
thcr guIds.cncc,nEngIand,thc bttcr struggIcotthc corporatctowns
aganstthcscncwsccd-bcdsotndustry.(p)
!ndustraI captaIsm dcvcIopcd n 8rtan on what wcwouId now caII
grccnhcId stcs. Jc corporatc towns Ikc Norwch and 8rstoI wcrc
hghIy organzcd, and t was poItcaIIy dcuIt to takc thcm ovcr and
brcak thc powcr ot thc guIds. n grccnhcId stcs n thc countrysdc,
thcrc was no rcguIatoryapparatus o stop you-no town bourgcosc,
noguId organzaton.Somost otthc ndustraIzatonthatoccurrcdn
8rtan occurrcdon tormcrvIIac stcsIkc Manchcstcr (aIIthccotton
townswcrc orgnaIIyjust smaIIvIIagcs). ccds and 8rmngham,agan,
bcgan as smaII tradngvIIagcs.Js s dhcrcnt trom somc pattcrns ot
ndustraIzat

n that havc occurrcd cIscwhcrc aIthough s stII thc

cascthatcaptaIIkcstomovctogrccncIdsitcswhcncvcrt can.hcn
thc Japancscautondustrymovcd nto 8rtan n thc 8cs, t avodcd
hghIyunonzcdparts otthccountryandmovcdto arcas opcntorncw
dcvcIopmcnt, whcrc thc compancs couId start trom scratch and buId
whatcvcr thcy wantcd (wth thc assstancc otthc Jhatchcr ant-unon
govcrnmcnt,otcoursc). n thc \ntcd Statcs thc samc tcndcncycxsts.
Fndng spaccs whcrc rcguIaton and unon organzaton arc Iackng
contnucs to bc a sgnhcant aspcct otthc gcographcaI and IocaonaI
dynamcotcaptaIsm.
JncroIcsotthccoIonaIsystcmandthcsIavctradccannotbcgnorcd,
cthcr,sncctwasbythcscmcansthatthcbourgcoscbothcrcumvcntcd
and ovcrturncd tcudaI powcrs. Jcrc s a strong body ot opnon that
rcgards thc sIavc pIantatons otthc Wcst ndcs n thc carIy ctccnth
ccntury as a ponccrng stagc n thc organzaton ot Iagc-scaIc Iabor
opcratons ot thc sort that rcappcarcd Iatcr n thc tactory systcms ot
8rta."Jncsc mcthods dcpcndn part onbrutc torcc,tor nstanccthc
coIonaIsystcm(p). AII manncr ottactcswcrc uscdtocxtractwcaIth
tromcoIonzcd popuIatons."8ctwccn ;6 and ;;,' tor cxampIc, "thc
EngIsh crcatcd atamncbybuyngup aII thc rcc andrctusngto scII t
agan,cxccptattabuIousprccs(;).8ut aIIsuchmcthods
cmpIoythcpowcr otthcstatc,thcconccntratcd andorganzcd torcc ot
soccty, to hastcn,asn ahothousc,thc proccss ottranstormaton otthc
rrimifivr tccumuttfioN 2QQ
Icudal modc oIproductIonIntothc capItalIst modc,and to shortcnthc
transItIon.orccIsthcmIdwIIcoIcvcryoIdsocIctywhIchIsprcgnantwIth
ancwonc.HIsItscIIancconomIcpowcr.(p-6)
8utwccannotundcrstandthIscrucIaIroIcoIthcstatc as an organIzIng
Iorcc, and as promotcr oIthc coIonIaI systcm, wIthout acknowIcdgIng
thcsIgnIhcanccoIboththcnatIonaIdcbtandthcpubIIccrcdItsystcmas
mcanswhcrcbymoncypowcrcanstarttocontroIthcpowcroIthcstatc.
1hc mcrgcrbctwccn moncypowcr andstatcpowcr Irom thc sIxtccnth
ccnturyonwardIs sIgnaIcdbythc rIscoIa"mocrn systcm oItaxatIon
and an IntcrnatIonaI crcdIt systcm (pz). Jc "bankocrats, hnancIcrs,
rcn/icr:, brokcrs,stock-jobbcrs,ctc'whopopuIatcthIssystcmthcncomc
to playsIgnIhcant powcr roIcs (pzc). Jc coIonIaIsystcm aIIowcd "thc
trcasurcs capturcd outsIdc uropc by undIsguIscd IootIng, cnsIavcmcnt
and murdcr"to How"back to thc mothcr-country"and bc"turncd Into
capItaI thcrc" whIIc "thc pubIIc dcbt bccamc onc oIthc most powcrIuI
IcvcrsoIprImItIvcaccumuIatIo (p8-p).
ColonIal systcm, publIc dcbts, hca taxcs, protcctIon, commcrcIaI
warsctc.,thcscoshootsoIthc pcrIod oImanuIacturcswcIItogIgantIc
proportIons durIng thc pcrIod oI InIancy oI IargcscaIc Industry. 1hc
bIrth oI thc lattcr Is ccIcbratcd by a vast, crod-IIkc sIaughtcr oI thc
innoccnts.(pzz)
1hIs "sIaughtcr" arosc out oIthc nccd to hnd and mobIIIzc sucIcnt
Iaborpowcr In arcas rcmotc Irom thc cxIstIng towns. Marx quotcs
ohn FIcIdcn "1hc smaIl and nImbIc hncrs oIIIttIc chIIdrcn bcIn
by vcry tar thc most in rcqucst, thc custom instantIy sprang up o
procurIng apprcntIccs ) Irom thc dIhcrcnt parIsh workhouscs oI
ondon,8IrmIngham,andcIscwhcrc"andshIppIngthcmnorthtoruraI
ancashIrc pz]). Marx contInucs hImscII "WhIIc thc cotton Industry
Introduccd chIId-sIavcryInto ngIand, In thcUnItcd StatcsItgavc thc
ImpuIsc Ior thc transIormatIon oIthccarIIcr,morc or Icss patrIarchaI
sIavcry Into a systcm oI commcrcIaI cxpIoItatIon," thcrcby gIvIng a
stImuIus tothcsIavctradc, whIchIcIIundcrthc IncrcasIngdomInancc
oIthc 8rItIsh (pz). "IvcrpooI grcwIat onthcbasIs oIthc sIavc tradc.
JIswasItsmcthodoIprImItIvcaccumuIatIon"(pz().
]DD t comrtNioN fo mtkx: s CAPI7AI
!ttookmmcnscchortto
unIcash thc`ctcrnaI naturaI Iaws` olthc capitaIist modc olproduction
to compIctc thc proccss ol scparation bctwccn thc workcrs and thc
conditions olthcirIabour,to translorm,at oncpoIc,thc sociaImcans ol
productionandsubsistcnccintocapitaI,andatthcoppositcpoIc,thcmass
olthcpopuIaton nto wagc-Iabourcrs,nto thclrcc`Iabouringpoorthat
artihciaIproductolmodcrnhistory.(pz)
!tmoncy"comcs nto thc worId wth a congcntaI bIood-stan on onc
chcck,'Marx concIudcs,thcn"captaI comcsdrppng trom hcad to toc,
lromcvcryporc,wthbIoodanddrtpz6).
Jcproccsscsot cropraton,Marxargucsnchaptcr]z,arcasdrawnout
asthcyarcbrutaIandpanI.FcudaIsmddnotdssoIvcwthoutastruggIc.
"Ncwtorccsandncwpassonssprngupnthcbosomolsoccty, lorccsand
passonswhichlccIthcmscIvcstobclcttcrcdbythatsocict cudaIsm
hastobcanIatcd,itis annIatcd.RsanniIation,thctranslormatonot
thcndduazcdandscattcrcd mcans olproductonintosociaIyconccn
tratcdmcans olproduction,thc translormaton,thcrclorc,olc dwarlIc
propcrtyolthcmanyntocgiantpropcrtyolthclcw,andthccropriation
olthcgrcatmassolthcpcopIcomthc soiI,omthcmcansolsubsistcncc
andlromthcinstrumcntsolIabour,istcrrbIcandarduousIyaccompIshcd
cropriationolthcmassolthcpcopIclormsthcprchistoryolcaptaI.
Jsprchstory"comprscsawhoIcscrcsottorcbIcmcthodsthatamount
to a systcm ot"mcrcIcss barbarsm pz8). 8ut oncc sct n moton, thc
proccsscs otcaptaIst dcvcIopmcnt assumc thcr own dstnctvc Iogc,
ncIudngthatotccntraIzaton.
nc captaIst aIways strikcs down manyothcrs.Handnhandwiththis
ccntraIization, or this cxpropriation ol many capitaIists by a lcw, othcr
dcvcIopmcnts takc pIacc on an cvcr-incrcasng scaIc, such as thc growth
olthc co-opcratvc lorm olthc Iabour proccss, thc conscous tcchnicaI
appIicationolscicncc,thcpIanncdcxpIoitationolthc soiI.
JcscprocccdapaccasthcworIdmarkcttormstompartan"ntcrnatonaI
charactcrotthccaptaIstrcgmc'FromthsthcrcaIsogrowsthcrcvoItot
thcworkngcIass:
RIMITIV ACCUMULATION {o
aclassconstantIyIncrcasIngInnumbcrs,andtraIncd,unItcdandorganIzcd
by thc vcry mcchanIsm oI thc capItalIst proccss oI productIon. Tc
monopolyoIcapItalbccomcsaIcttcruponthcmodcoIproductIonwhIch
hasourIshcdalongsIdcand undcr It.TcccntralIzatIon oIthcmcans oI
productIon and thc socIalIzatIon oI labour rcach a poInt at whIch thcy
bccomc IncompatIblc wIth thcIr capItalIst Intcgumcnt. TIs Intcgumcnt
Is burst asundcr. hc knclI oI capItalIst prIvatc propcrty sounds. hc
cxpropriators arccxproprIatcd.(pzp)
Jcrc Is,ahcr alI, a hugc dIhcrcncc bctwccn"thc cxproprIatIon oIthc
grcatmassoIthcpcopIc"byaIcwusurpcrsandthccxproprIatIonoIaIcw
usurpcrsbythcgrcatmassoIthcpcopIc.
hIscalItothcbarrIcadcsoIrcvoIutIonIsthcrhctorIcoIthcCommuni:/
Aunjjc:/o broughtbacktobcaronthcpolItIcsoICui/u/. RIsapolItIcal
and poIcmIcal statcmcnt that should, surcly, provIdc thc cuImInatIng
chaptcr to an astonIshIng work oIdccp analysIsthat Is anImatcd by a
rcvolutIonaryspIrIt.
WhIch brIngs usto thc last chaptcr,a curIous chaptcrthat dcHatcs
thc mcssIanIcrhctorIc andtonc oIthc prcccdIng chaptcrbyohcrInga
scrIcs oI rcHcctIons on thc thcory oIcolonIzatIon. Furthcrmorc, It Is
not rcalIyabout thc actuaI coIonIal cxpcrIcncc and thc prospccts Ior
antIcoIonIaI rcvolutIonary struggIcs thc cxproprIatIon oIthc colonIal
mastcrsbythc mass oIthc colonIzcdpcoplc).!t Is about thc thcorIcs
oI colonIzatIon sct out by a man caIlcd WakchcId, who hardly ratcs
amongthcgrcatcstpolItIcal cconomIsts oIaIl tImc andwhowrotchIs
book about coIonIzatIon whcn In Mcwgatc PrIson Ior attcmptIng to
abduct thc daughtcr ot a wcaIthy tamiIy. VhiIc in !cwgatc, VakccId
IoundhImscIIInthccompanyoIprIsoncrs aboutto bc transportcd to
AustralIa,andthIscvIdcntIyscthImthInkIngaboutthcroIcoIAustralIa
Inthc gcncraI schcmc oIthIngs. HchadlIttlcIdcaastowhatwasrcalIy
goIng on In AustralIa, but hc saw somcthIngthat Marx consIdcrcd oI
grcat Import bccausc It amountcd to a dcvastatIng rcbuttal oIAdam
SmIth.WakchcldsImpIyrccognIzcd thatyoucantakc aIlthccapItalIn
thc worId to AustraIIa-moncy, Instrumcnts oIlabor,matcrIaIs oIall
kInds-butIIyoucanthndany"Ircc"Inthcdoublcscnsc! )laborcrsto
workIoryou,youcannotbcacapItalIst.
Wakchcld,Inshort,"dIscovcrcdthatcapItaIIsnotathIng,butasocIal
rcIatIon bctwccn pcrsons whIch Is mcdIatcd through thIngs" (p]z) .
jO2 t comrtNioN fo mtkx: s CAPI7AI
It wouId bc dImcuIt to hnd Iaborcrs In AustraIIa, at thc tImc thcy had
casyacccssto thcIand andsocouId supportthcmscIvcsas Indcpcndcnt
produccrs. 1hc onIywayto cnsurc aIabor suppIy, andthcrcbyprcscrvc
thc prospcctsIor capItaIIsm,was Iorthc statctostcpIn and put arcscrvc
prIcconthcIand.JatrcscrvcprIcchadtobchIghcnoughtomakcsurc
that cvcrybody who arrIvcd In AustraIIa had to work as wagc Iaborcrs
untII thcy couId savc cnough capItaI to gaIn acccss to Iand. WakchcId
consIdcrcdthatthcIandsystcmInthcUnItcdStatcs(thcHomcstcadAct)
wastooopcnandtooIrcc,andthIssctthcprIccoIIabortoohIgh(whIch,
aswc carIIcrsaw,IcdtothcIastcradoptIonoIIabor-savIngInnovatIons).
1hcUnItcdStatcs,WakchcIdcorrcctIyprcdIctcd,wouIdhavctodIvcback
IntothcbrutaItactIcs oIthcprchIstoryoIcapItaIIsmIIcapItaIIsmwcrc
to survIvc thcrc. 1hc struggIcbctwccn"Ircc Iabor" on thc IrontIcr and
thcIncrcasIngcontroIoIIandpoIIcybycorporatc (partIcuIarIyrailroad)
intcrcsts, as wcII as thc rctcntion o immirant ouIations as wac
IaborcrsInthccIty,wasavItaIaspcctoIaccumuIatIon.
"JconIythIngthatIntcrcstsus,'wrItcsMarx,
Is thc sccrct dIscovcrcd In thc McworId bythcpoIItIcaIcconomyoI
thc OIdorId, and IoudIy procIaImcd by It thatthc caItaIIst modc oI
productIonandaccumuIatIon,andthcrcIorccapItaIIstrIvatcpropcrtyas
wcII,havcIorthcIrIundamcntaIcondItIonthcannIhIIatIonoIthatrIvatc
propcrty whIch rcsts on thc Iabour oIthc IndIvIduaI hImscII, In othcr
words,thccxproprIatIonoIthcworkcr.|o)
ct thc govcrnmcnt sct an artIhcIaI prIcc on thc vIrIn soII, a prIcc
Indcpcndcnt oIthcIawoIsuppIyand dcmand, aprIccthatcompcIs thc
ImmIgrant to work a Iong tImc Ior wagcs bcIorc hc can carn cnough
moncytobuyIandandturnhImscIIIntoanIndcpcndcntIarmcr.)
JIs,Marxsays,Isthc"grcatsccrct"oIWakchcIdspIansIor coIonIatIon,
butItaIsorcvcaIsthcgrcatsccrctoIprImItIvcaccumuIatIon.1hcscpIans
dIdcarryconsIdcrabIcInHucnccInthc 8rItIshParIIamcntanddId ahcct
coIonIaI Iand poIIcy. "1hc ngIIsh govcrnmcnt Ior ycars practIscd thIs
mcthodoI prImItIvcaccumuIatIoprcscrIbcdbyMrWakchcIdcxprcssIy
IoruscInthccoIonIcs"(p{p).
Marx uscs thIs coIonIaI thcory to rcbut Adam SmIts thcory oI
orIgInaIorprImItIvcaccumuIatIon.8utthcrcIssomcthIngcIscgoIngon
RIMITIV ACCUMULATION ] D]
hcrcthatmayhavcdccprcIcvancctothcwhoIcargumcntand structurc
oICui/u/ asabook. !nthcprcIacctothc sccond cdItIon,Marxtakcsup
hIs rcIatIonshIptoHcgcI,notIng,"!crItIcIzcdthcmystIhcatorysIdcoIthc
HcgclIan dIaIcctIc ncarIythIrtyycars agocz).AImost ccrtaInIy, hc Is
rcIcrrIngtohIsIcngthyCri/iquc o[Hcgc/s Ihi/o:oh] o[Kigh/. Jcrc,Marx
startshIscrItIqucatparagraphzcoIHcgcI'scxposItIon.8utthccontcnt
oIthc prcccdIngparagraphs Is somcwhat surprIsIng.WIthout anyprIor
warnIngorthcorIzatIon,HcgcIIaunchcsIntoadIscussIon oIthcIntcrnaI
contradIctIons oIcapItaIIsm. Hc notcs thc "dcpcndcncc and dIstrcss oI
thccIasstIcdtoaccrtaInkIndoIwork,proccsscsthatIcadtogcncraIIzcd
ImpovcrIshmcnt and thc crcatIon oIa rabbIc oIpaupcrs whIch, at thc
samc tImc,"brIngswIthIt,atthcothcrcndoIthc socIaI scaIc,condItIons
whIchgrcatIyIacIIItatcthcconccntratIonoIdIsproportIonatcwcaIthIna
Icwhands'JcIanguagcIsvcrysImIIartothatInchaptcrz oICui/u/,
whcrc MarxtaIksabout thc accumuIatIon oIwcaIth at onc poIcand oI
mIscry,toII anddcgradatIonatthcothcrpoIc,occupIcdbythcworkIng
cIass."Ithcnccbccomcsapparcnt,'HcgcIobscrvcs,"thatdcspItcancxccss
oIwcaIth cIvII socIctyIs notrIch cnough . . . to chcckcxccssIvc povcrty
andthccrcatIonoIapcnurIousrabbIcand
thIsInncrdIalcctIcoIcIvIl socIctythusdrIvcs ItoratanyratcdrIvcs a
spccIc cIvIl socIctyto pushbcyond Its own lImIts andscckmarkcts,
andsoItsncccssarymcansoIsubsIstcncc,InothcrlandswhIcharccIthcr
dccIcntInthcgoodsIthasovcr-produccd,orclscgcncrallybackwardIn
Industry.
"maturc civiI socicty" is thus drivcn to coIonizin activity "byvhich it
supplIcsto apartoIIts populatIonarcturntoIIIcon thc IamIIybasIsIn
ancwIandand so aIsosuppIIcsItscIIwIthancwdcmandand hcId IorIts
Industry'
WhymIghtbccalIcdan"Inncr dIaIcctIcproduccsgrcatcrandgrcatcr
IcvcIs oI socIaI IncquaIIty. Furthcrmorc, as HcgcI says In onc oI hIs
paragraph addcndums,"agaInstnaturcmancancIaImnorIght,butoncc
socIcty Is cstabIIshcd, povcrty ImmcdIatcIy takcs thc Iorm oI a wrong
donc to onc cIass by anothcr' JIs Inncr dIaIcctIc Ioundcd on cIass
2. G.W F HccI, Hcgc/s Ihi/osoh] o] Right, trans. 1. M. Knox (xtord.
CIarcndon Prcss, I57), I452.
3. !bd., 277.
{o
(
t comrtNioN fo mtkx:s CAP7AI
struggIcIcadscIvIIsocIctIcstoscckrcIIcIInan"outcrdIaIcctIc"oIcoIonIaI
andImpcrIaIIstactIvIty.cthcrHcgcIbcIIcvcsthatthIswIIIrcsoIvcthc
Inncr probIcm Is not cIcar. 8ut Marx Is quItc cIcar that It cannot. Jc
pcnuItImatc chaptcr oI Cui/u/, whIch contcmpIatcs thc cxproprIatIon
oI thc cxproprIators as thc uItImatc outcomc oI thc Inncr dIaIcctIc,
cannotbccountcrcdbycoIonIaIpractIccsthatmcrcIyrccrcatcthcsocIaI
rcIatIonsoIcapItaIIsmonawIdcrscaIc.JcrccanbcnocoIonIaIsoIutIon
tothcIntcrnaIcIass contradIctIonsoIcapItaIIsm,andbythcsamctokcn
nouItImatcspatIaI mto thc IntcraI contradIctIons.Whatwc nowcaII
gIobaIIzatIonIssImpIy, aswcarcagaInandagaIn rcmIndcd, atcmporary
mthat"soIvcs"probIcmsInthchcrc-and-nowbyprojcctIngthcmontoa
IrgcrandgrandcrgcographIcaItcrraIn.
COMMENTARY
Jcrc arc a varIct oI Issucs poscd by Marx's account oI prImItIvc
accumuIatIon that caII Ior commcntary. 1o bcgIn wIth, It Is Important
to rccognIzc and apprccIatc thc InnovatIvc andpIonccrIng charactcr oI
Marx'saccount.MobodyhadrcaIIydoncthIsbcIorcInsuchasystcmatIc
and ordcrcd way. 8ut as soohcn happcns In an InnovatIvc account,It's
a bIt cxaggcratcd, and It gIosscs ovcr a host oI Issucs. HIstorIans and
cconomIc hIstorIans havc sIncc donc avast amount oIrcscarch onthc
transItIon IromIcudaIIsm to capItaIIsm. Jc conscnsus wouId probabIy
bcthat thc storyMarxtcIIs Is partIaIIytruc In somc pIaccs.Jcrc wcrc
Indccd pIcnty oI momcnts and IncIdcnts oI cxtrcmc vIoIcncc In thIs
hIstorIcaI gcography. And thc roIc oIthc coIonIaI systcm, IncIudIng thc
cvoIutIon oI coIonIaI Iand, Iabor and taxatIon poIIcIcs, Is undcnIabIc.
8ut thcrchavcaIso bccn Instanccs oIprImItIvcaccumuIatIonthatwcrc
rcIatIvcIypcaccabIc.PopuIatIonswcrcnotsomuchIorccdohthcIandas
attractcdohthcIandbycmpIoymcntpossIbIIItIcsandthcprospcctsoIa
bcttcr IIIc ohcrcd byurbanIzatIon and IndustrIaIIzatIon. Jc voIuntary
movc to cItIcs Irom appaIIIng and prccarIous condItIons oI ruraI IIIc,
bccausc urban wagcs wcrc IaIrIy hIgh, has not bccn uncommon (cvcn
wIthoutthoscproccsscsoIIorcIbIcdIsposscssIonIromthcIandthatMarx
rcIcrstoandIorwhIchthcrcIspIcntyoIhIstorIcaIcvIdcncc).JcstoryoI
prImItIvcaccumuIatIonIs,thcrcIorc,IarmorcnuanccdandcompIIcatcdIn
ItsdctaIIsthanthconcthatMarxtcIIs.AndthcrcwcrcImportantaspccts
tothcdynamIcthatMarxIgnorcs.ForcxampIc,thcgcndcrdImcnsIonIs
rkimifivr tccumuttfioN o,
nowrccognIzcdasbcInghIghIysIgnIhcant,sInccprImItIvcaccumuIatIon
IrcqucntIycntaIIcdaradIcaIdIscmpowcrmcntoIwomcn,thcIrrcductIon
tothcstatusoIpropcrtyandchattcIandthcrccnIorccmcntoIpatrIarchaI
socIaIrcIatIons.
8utMarxdIdskctchthcbroadoutIIncsoIthcIndustrIaIandagrIcuIturaI
rcvoIutIons,oIthcproccsscsoIproIctarIanIzatIon,commodIhcatIonand
monctIzatIon that wcrc ncccssary Ior capItaIIsm to comc Into bcIng.
IsaccountsctabascIInc IoraIIIuturc dIscussIons and Ior thIs rcason
aIoncwas acrcatIvc IntcrvcntIon.!t aIso dramatIcaIIyrcmIndsus oIthc
orIgInaryvIoIcnccand thc hcrcc struggIsthatbrought capItaIIsm Into
bcIng, an orIgInaryvIoIcncc thatthcbourgcoIsIcsubscqucntIysoughtto
dcnyandIorgct,cvcnaswcIIvcwIthItstracctothIsday.
Jroughout Cu//u/, but aIso In many oI hIs othcr wrItIngs, Marx
tcndstorcIcgatcproccsscsoIprImItIvcaccumuIatIontothcprchIstoryoI
capItaIIsm.OnccthatprchIstoryIsdoncwIth,thcnthc"sIIcntcompuIsIon
oIcconomIcrcIatIons"takcsovcr.Marx'spoIItIcaIprocctInCu//u/ Isto
aIcrtus as to howthcsc sIIcnt compuIsIons opcratc on us, ohcn wIthout
ournotIcIng,hIddcnbchIndthcIctIshIstIcmasksthatsurroundusatcvcry
turn. !tshowsushow,asI carIIcr argucd,thcrcIs nothIng morcuncquaI
than thc cquaI trcatmcnt oIuncquaIs, howthc cquaIItyprcsupposcdIn
thcmarkctcxchangcoIthIngsdcIudcs usInto abcIIcIInthc cquaIItyoI
pcrsons, howbourgcoIs doctrIncs oIrIghtsoIprIvatc propcrtyand thc
prohtratcmakcItsccmasIIwcarcaIIcndowcdwIthhumanrIghts,how
IIIusIonsoIpcrsonaIIIbcrtyand Irccdom and how andwhywc act on
thosc IIIusIons and cvcn hght Iorthcm poIItIcaIIy) arIsc out oImarkct
IrccdomsandIrcctradc.
ut thcrc is,in my vicw, a rcaI proIcmwiththc icathatprimitivc
accumuIatIon occurrcdonccuponatImc,andthatonccovcr,Itccascdto
bc oIrcaI sIgnIhcancc.In rcccnt tImcs,scvcraI commcntators,IncIudIng
myscII,havcsuggcstcdthat wc nccd to takc thc contInuIty oIprImItIvc
accumuIatIon throughout thc hIstorIcaI gcography oI capItaIIsm
scrIousIy. RosaLuxcmburgputthatqucstIonhrmIyonthcagcndancarIy
accnturyago.ShcInsIstcdthatwcthInkoIcapItaIIsmasbcIngbascd on
twodIhcrcntIormsoIcxpIoItatIon.
ncconccrnsthccommodtymarkctandthcpIaccwhcrcsurpIusvaIucs
produccd-thctactory,thcmnc,thcagrcuIturaIcstatc.cgardcdnths
Ight,accumuIatonsapurcIycconomcproccss,wthtsmostmportant
{o6 t comrtNioN fo mtkx s CAP7AI
phasc a transaction bctwccn thc capitaIist and wagc Iabourcr .
Hcrc,in Iorm at any ratc,pcacc,propcrtyandcquaIi prcvaII, andthc
kccn diaIcctIcs oI scIcntic anaIysis and this was, shc argucd, arx's
signaI achicvcmcnt in CapitaI wcrc rcquircd to rcvcaI how thc right oI
owncrshIp changcs In thc coursc oIaccumuIatIon Into approprIation oI
othcrpcopIc'spropcrty,howcommodItycxchangcturnsintocxpIoItatIon
andcquaIItybccomcscIass-ruIc.
JIsIs IndccdwhatMarxsobrIIIIantIyrcvcaIs InthchrstscvcnpartsoI
Cui/u/. "JcothcraspcctoIthcaccumuIatIonoIcapItaI'shcwrItcs,
conccrnsthcrcIations bctwccn capItaIism andthcnon-capitaIIstmodcs
oIproductionwhich startmakingthcirappcarancc onthcintcrnationaI
stagc.ItsprcdomInantmcthodsarccoIoniaIpoIicy, an intcrnationaIIoan
systcm-apoIIcyoIsphcrcsoIIntcrcst-andwar.orcc,Iraud,opprcssIon,
Iootingarc opcnIydispIaycdwithoutanyattcmpt at conccalmcnt,an it
rcquircs an cortto discovcrwithIn this tangIc oIpoIitIcaI vioIcncc and
contcsts oIpowcrthcstcrnIawsoIthccconomicproccss.
JcrcIs,shcmaIntaIns,an"organIcconncctIon bctwccnthcsctwosystcms
oIcxpIoItatIonandaccumuIatIon.JcIonghIstoryoIcapItaIIsmccntcrs
on thIs dynamIc rcIatIon bctwccn contInuous prImItIvc accumuIatIon
onthconchandandthcdynamIcsoIaccumuIatIonthroughthc systcm
oIcxpandcd rcproductIon dcscrIbcd In Cui/u/ onthc othcr. Marxwas
thcrcIorcwrong,shc argucs,to conhncprImItIvcaccumuIatIonto somc
antcdIIuvIanpoInt,somcprchIstoryoIcapItaIIsm.CapItaIIsmwouIdIong
agohavc ccascdto cxIsthadItnotcngagcdIn IrcshroundsoIprImItIvc
accumuIatIon,chIcHythroughthcvIoIcnccoIImpcrIaIIsm.
!ntuItIvcIy, thcrc Is much to suggcst that Luxcmburg was rIght In
prIncIpIc, cvcn II onc docs not havc to IoIIow hcr aII thc way to hcr
spccIhc concIusIons. 1o bcgIn wIth thc spccIhc proccsscs oI prImItIvc
accumuIatIon that Marx dcscrIbcs-thc dIsposscssIon oI ruraI and
pcasant popuIatIons, coIonIaI, ncocoIonIaI and ImpcrIaIIst poIItIcs oI
cxpIoItatIon, thc usc oIstatc powcrs to rcaIIocatc asscts to a capItaIIst
cIass, thc cncIosurc oIthccommons,thcprIvaIzatIonoIstatcIandsand
asscts, an IntcrnatIonaI systcm oIhnancc and crcdIt, to say nothIng oI
4. Rosa Luxcmbur, 1hc Accumu/ction o] Ccitc/, trans. Ancs Schwarzschd
(London. RoutIcdc, 2003), 432.
rrimi:ivr tccumutt:ioN { o/
thc burgconIng natIonaI dcbts and cvcn thc shadowy contInuatIon oI
sIavcrythroughthctramckIngoIpcopIcwomcnInpartIcuIar)aIIthcsc
Icaturcs arc stIIIwIthus and In somc Instanccs sccmnottohavcIadcd
Intothcbackgroundbut,asInthccascoIthccrcdItsystcm,thccncIosurc
oIthccommonsandprIvatIzatIon,tohavcbccomccvcrmorcpromIncnt.
ccontInuItybccomcscvcnmorccmphatIcwhcnwcshIourgazc
IromthccIassIc cascoI8rItaIntothchIstorIcaIgcographyoIcapItaIIsm
onthc worId stagc. LuxcmburgcItcdthc so-caIIcd OpIumWarsagaInst
ChInaasancxampIcoIthcproccsscsshchadInmInd.OncoIthcIargcst
IorcIgnmarkctsIor8rItIshgoodswas!ndIa,andthc!ndIanscouIdpartIy
payIorthoscgoodsbysuppIyIngrawmatcrIaIsto8rItaInasMarxpoInts
outInCui/u/) . 8utthIswasnotcnough.o!ndIanopIumwasIncrcasIny
markctcdInChInaIncxchangc IorsIIvcrthatcouIdthcnbcuscdtopay
Iorthc8rItIsh goods.Whcnthc ChIncscsoughtto controIIorcIgntradc
IngcncraIandthcopIumtradcInpartIcuIar,thc8rItIshHcctsaIIcdupthc
angtzcanddcstroycdthcwhoIcoIthcChIncscHcctInashortcncountcr
toIorcc opcnthc rcatyports. OnIybythcscsortsoIImpcrIaIIst mcans,
Luxcmburgsuggcstcd,couIdthcIong-tcrmaccumuIatIonandrcaIIzatIon
oI capItaI bc sccurcd. AccordIng to Luxcmburg`s work, thc contInuIty
oIprImItIvc accumuIatIon took pIacc maInIyon thc pcrIphcry In arcas
outsIdc rcgIons whcrc thc capItaIIst modc oI productIon domInatcd.
CoIonIaIandImpcrIaIIstpractIccswcrccrucIaIInaIIthIs.8utaswccomc
cIoscrtothcprcscnt,thcroIcoIthcpcrIphcrychangcspartIcuIarIywIth
dccoIonIzatIon), and thc practIccs oI prImItIvc accumuIatIon not onIy
shIandproIIIcratcInIormbutaIsobccomcmorcpromIncntInthccorc
rcgIonsdomInatcdbycapItaI
onsIdcr, Ior cxampIc, thc casc oIcontcmporary ChIna. hIna ha
bccnthroughIts own dcvcIopmcntaI proccss undcr MaowIthmInImaI
rcIatIonstothcoutsIdc.8utInp;8,DcngIaopIngstartcdtoopcnChIna
up to thc outsIdc an to rcvoIutIonIzc ChIns cconomy. AgrIcuIturaI
rcIorms not onIy gcncratcd thc cquIvaIcntoIan agrIcuIturaI rcvoIutIon
InproductIonbutaIsorcIcascdan cnormousquantItyoIIabor,aswcIIas
surpIusproduct,Irom ohthcIand.crcIs noqucstIonthatsomcthIng
cquIvaIcnt towhatMarx dcscrIbcs as prImItIvc accumuIatIon has bccn
goIng on In ChIna ovcr thc past thIrty ycars. And to thc dcgrcc that
thc opcnIng oI ChIna has hcIpcd stabIIIzc gIobaI capItaIIsm In rcccnt
tImcs, Luxcmburg wouId probabIy Iook at It and say that thIs Ircsh
round oI prImItIvc accumuIatIon thcrc has bccn IundamcntaI to thc
{o8 t comrtNioN fo mtkx

s CAP7AI
survIvaI oIcapItaIIsm. InthIs casc, howcvcr, cvcnts wcrc not powcrcd
by IorcIgn ImpcrIaIIst practIccs but sct In motIon by thc ChIncsc statc
and Its ruIIng CommunIst Party takIng a quasI-capItaIIst road to thc
augmcntatIon oI natIonaI wcaIth. JIs cntaIIcd thc crcatIon oI a vast
Iow-wagc urban proIctarIat out oIan agrarIan popuIatIon, thc InItIaIIy
controIIcd movcmcnt In oIIorcIgn capItaI to scIcctcd rcgIons andcItIcs
to cmpIoythatproIctarIat,and thc dcvcIopmcntoIanctworkoIgIobaI
tradIngrcIatIonstomarkctandrcaIIzcthcvaIucoIthccommodItIcs,cvcn
as thc IntcrnaImarkctstartcdto boom.It Is aIso IntcrcstIngto notc thc
roIc oIgrccnhcId sItcs In ChIna. Just as Manchcstcr wcnt Irom a smaII
town to a massIvc IndustrIaI ccntcr In aIcwdccadcs, so dId Shcnzhcn
ahcr p8c. Jc dcvcIopmcntaI pattcrn Is not too dIhcrcnt Irom that
dcscrIbcd by Marx, cxccpt that thc IcvcIs oI orIgInary vIoIcncc wcrc
mutcd (somc would say thcy wcrc ccctivcIy disguiscd and that thc
powcrofthcstatcandpartyhasbccncriticalthroughout.nthclightof
thIscxampIc,andthccrucIaIroIcthatChInahaspIaycdInthccontInuous
cxpansIonoIacapItaIIstsystcm dcdIcatcdto"accumuIatIonIor thcsakc
oIaccumuIatIon,productIonIorthc sakcoIproductIon,'It IsdIcuItto
avoIdthcconcIusIonsthat (a) somcthIngakIntoprImItIvcaccumuIatIon
Is aIIvc and wcIIwIthIn thc dynamIcs oIcontcmporary capItaIIsm and
(b) Its contInucd cxIstcncc maywcII bc IundamcntaI to thc survIvaI oI
capItaIIsm.
8ut thIs proposItIon hoIds prctty much cvcrywhcrc. 1hc vIoIcncc
oI cxtractIon oI naturaI rcsourccs (throughout AIrIca In partIcuIar)
contInucs,andthccxproprIatIonoIpcasantpopuIatIonsInLatInAmcrIca
and throughout South and ast AsIa Is stIII wIth us. Monc oIthIs has
dIsappcarcd,and In somc Instanccs Ithas IntcnsIhcd,rcsuItIng In hcrcc
conHIcts ovcr, Ior cxampIc,thc cxpuIsIon oIpcasant popuIatIons Irom
thc Iand In IndIaInordcrto makc wayIor"spccIaIcconomIczoncs"on
grccnhcIdsItcswhcrcIndustrycansctupactIvItyonaprIvIIcgcdtcrraIn.
1hckIIIIngoIpcasantsrcsIstIngcxpuIsIonsInWcst8cngaIatMandIgram
to makc wayIor IndustrIaI dcvcIopmcnt Is as "cIassIc" an cxampIc oI
prImItIvc accumuIatIon as couId cvcrbc Iound In scvcntccnthccntury
8rItaIn. Furthcrmorc, whcn Marx poInts to thc natIonaI dcbt and
thc nasccnt crcdIt systcm as vItaI aspccts In thc hIstory oI prImItIvc
accumuIatIon,hcIstaIkIngaboutsomcthIngthathasgrownInordInatcIy
sInccthcntoactasakIndoIccntraIncrvoussystcmtorcguIatcthcHows
oIcapItaThcprcdatorytactIcsoIWaIIStrcctandoIhnancIaIInstItutIons
rkimifivr tccumuttfioN )OQ
crcdIt-card companIcs) arc IndIcators oI prImItIvc accumuIatIon by
othcrmcans.So noncoIthcprcdatorypractIccsthatMarxIdcntIhcdhavc
gonc away, andInsomc Instanccs thcyhavc cvcn IIourIshcdto adcgrcc
unImagInabIcInMarx'sowntImcs.
8utIn ourtImcs,thc tcchnIqucs Ior cnrIchIngthcruIIngcIasscsand
dImInIshIng thc standard oIIIvIng oIIaborthrough somcthIngakIn to
prImItIvc accumuIatIon havc proIIIcratcd and muItIpIIcd. For Instancc,
UnItcdAIrIIncsgocsbankrupt,thcngctsthcbankruptcycourtto agrcc
thatIthastorIdItscIIoIaIIItspcnsIonobIIgatIonsInordcrtocontInucas
avIabIcbusIncss.AIIUnItcdAIrIIcscmpIoyccssuddcnIyhndthcmscIvcs
wIthnopcnsIonanddcpcndcntonastatcInsuranccIundthatpaysoutat
avcrymuchIowcr ratc.RctIrcdaIrIInccmpIoyccsarcIorccdbackIntothc
proIctarIat. 1hcrc arc IntcrvIcws wIth IormcrUnItcdAIrIIncs cmpIoyccs
whosaId,"WcII,youknow,I'msIxty-scvcnandIthoughtIwasgoIngtobc
IIvInghappIIyonmyrctIrcmcntIncomcoIcIghtythousanddoIIarsaycar,
andnow'm onIy gcttIng thIrty-hvc thousand. So Ihavc togo back and
hnd myscIIajobto survIvc' And thc bIg, IntcrcstIngqucstIon Is, whcrc
dIdthccquIvaIcntoIaIIthatmoncygoH IspcrhapsnocoIncIdcnccthat
at a tImc whcn manyworkIng pcopIc wcrc bcIng dIsposscsscd oIthcIr
pcnsIon,hcaIthcarc andothcrwcIIarcrIghtsacrossthcUnItcd Statcs,thc
ratcoIrcmuncratIonoIWaIIStrcctcxccutIvcsand COs morcgcncraIIy
wassoarIngIntothcstratosphcrc.
ConsIdcr, totakcanothcrcxampIc,thcwavc oIprIvatIzatIonthathas
swcptacrossthccapItaIIstworIdsInccthc p;cs orso.1hc prIvatIzatIon
oI watcr, cducatIon and hcaIthcarc In many oI thc countrIcs that
oncc provIdcd thcm as pubIIc goods has dramatIcaIIy changcd how
capItaIIsm works crcatIng aII manncr oI ncw markcts, Ior cxampIc).
1hcprIvatIzatIon oIstatc cntcrprIscs aImostInvarIabIy at a prIcc that
aIIowcdthc capItaIIsts to gaIn Immcnsc prohts Invcry short ordcr) has
aIso rcIInquIshcd pubIIccontroIovcr growth and Invcstmcnt dccIsIons.
1hIsIs,Inchcct,apartIcuIarIormoIcncIosurcoIthccommons,Inmany
Instanccsorchcstratcdbythc statc as was thc carIIcr round).Jc rcsuIt
has bccn a takng awayoIasscts and rIghts Irom thc common pcopIc.
Andatthc samctImcasthcrcIsatakIngaway,thcrcarcthcscImmcnsc
conccntratIonsoIwcaIthoccurrIngatthcothcrcndoIthcscaIc.
In both 1c Ncw lmcriu/i:m` and A ric[ Hi:/or] o[Nco/i0cru/i:m,
5. David Harvcy, Tc Ncw Imcric/ism (xord. xord Univcrsiq Prcss, 2003).
j 1 O t comrtNioN fo mtkx's CAP7AI
! argucd that cIass powcr was bcIng IncrcasIngIy consoIIdatcd rIght
nowthroughproccsscsoIthIs sort. SIncc It sccmsabItoddtocallthcm
prImItIvc or orIgInaI, ! prcIcr to caII thcsc proccsscs accumuIatIon by
dIsposscssIon. ! argucd that whIIc somc oI thIs wcnt on In thc pcs
and p6cs, partIcuIarIy through thc tactIcs oI thc coIonIaIIsm and
ImpcrIaIIsm and In thc prcdatory raIdIng oI naturaI rcsourccs, thcrc
wast that much accumuIatIon by dIsposscssIon goIng on wIthIn
thc corc rcgIons oI capItaIIsm, partIcuIarIy thosc wIth strong socIaI
dcmocratIc statc apparatuscs. McoIIbcraIIzatIon, acr thc mId-p;cs,
has changcd aII that. ccumuIatIon by dIsposscssIon has bccn morc
and morc IntcrnaIIzcd wIthIn thccorcrcgIons oI capItaIIsm cvcn as It
has wIdcncd and dccpcncd throughout thc gIobaI systcm. Wc shouId
notrcgardprImItIvcaccumuIatIon oIthc sortthatmIghtrcasonabIybc
consIdcrcd to bc thc casc In hIna) or accuuIatIon by dIsposscssIon
(asitasoccurrcdtroughtcwavcofprivatizationintccorcrcgIons)
assImpIybcIngaboutthcprchIstoryoIcapItaIIsm.!t Is ongoIng and In
rcccnttImcshasbccnrcvIvcdasanIncrcasIngIysIgnIhcantcIcmcntInthc
waygIobaI capItaIIsm IsworkIng to consoIIdatc cIass powcr.nd It can
cncopasscvcrythIngIromthctakIngawayoIrIghts oIacccss toIand
and IIvcIIhoods to thc rctrcnchcnt oI rIghts to pcnsIons, cducatIon
and hcaIthcarc, Ior campIc) hard-won In thc past through hcrcc cIass
struggIcsbyworkIngcIassovcmcnts.hIcoMcndcs,thcIcadcroIthc
rubbcr tappcrs In mazonIa, was murdcrcd Ior dcIcndIng awayoIIIIc
agaInst thc cattIc ranchcrs, thc soybcan produccrs and thc Ioggcrs who
soughttocapItaIIzcthcIand.hcpcasants oIMandIgrmwcrckIIIcdIor
rcsIstIngIandtakcovcrIorcapItaIIstdcvcIopmcnt.candIcssWorkcrs'
Movcmcnt In 8razII thc MS1) and thc apatIstas havc both Iought to
dcIcndthcIrrIghttoautonomyandscII-dctcrmInatIonIn cnvIronmcnts
rIchInrcsourccs and cIthcr covctcd orlockcdawaybycapItaI 8utthcn
thInk oIhow thc ncwIymIntcd prIvatccquIty Iunds havc bccn taking
pubIIc companIcs prIvatc In thc UnItcd Statcs, strIppIng thcm oIasscts
andhrIngasmanycmpIoyccsasthcycouId,bcIorctakIngthcrcstructurcd
companIcsbackonthcmarkctandsclIIngthcmatavastprohtIorwhIch
thcOoIthcprIvatc-cquItyIundrcccIvcsan astronomIcaIbonus).
crcarcInnumcrabIc cxampIcsoIstrugcsagaInstaIIthcscdIvcrsc
IormsoIaccumuIatIonbydIsposscssIonStruggIcs agaInstbIopiracy and
thc attcmpt to patcnt gcnctIc matcrIaIs and codcs, struggIcs agaInst thc
usc oI cmIncnt domaIn to makc wayIor capItaIIst dcvcIopcrs, agaInst
rkimi+ivr tccumutt+toN j 1 1
gcntrhcaton and thc producton ot homcIcssncss n Ncw ork and
ondon, thc prcdatoryway n whch thc crcdt systcm works to torcc
tamIytarmcrsohthcrIandtomakcwaytoragrbusncss nthc\ntcd
Statcs. . . thcIstscndIcss.Avastarrayotpractccscxststhroughwhch
accumuIaton by dsposscson s stII occurrg that, on thc surtacc at
Icast,havcnothngdrcctIytodo wth thc cxp

otaton otIvngIaborn
thc workpIacc to producc surpIusvaIuc n thc way Marx dcscrbcs n
Cui/u/.
ctthcrcarccommonaIcsaswcIIascompIcmcntartcsbctwccnthc
twoproccsscs,asLuxcmburgcorrcctIy, nmyvcw, suggcstsbypontng
to thc"organcrcIatonbctccn thcm. Jhccxtracton otsurpIus-vaIuc
s, ahcr aII, a spcchc torm otaccumuIaton bydsposscsson,sncc t s
nothngmorcorIcssthanthcaIcnaton,apprpratonanddsposscsson
ot thcIaborcr'scapactytoproduccvaIucnmcIaborproccss.Furtncrmorc,
nordcrtorthstormotaccumuIatontocontnuctogrow,wayshavcto
bctound to mobIzcIatcntpopuIatons as Iaborcrs and opcn up morc
IandandrcsourccsasmcansotproductontorcaptaIstdcvcIopmcnt.As
hashappcncdntnccascs ot!ndaandChna,tor cxampc,thccrcaton
ot"spccaI cconomc zoncs by cxpcIIng pcasant produccrs trom thc
IandsancccssaryprccursortothccontnutyotcaptaIstdcvcIopmcnt,
justasthccIcaranccotso-caIIcdsIumsoturbandwcIIcrssncccssarytor
dcvcIopcrcaptaItocxpandtsurbanopcratons.JhstakngotIandsby
thc statcthroughcmncntdoman,orsomcIcgaIcguvaIcnt,has bccn a
wdcsprcad phcnomcnon n rcccnt tmcs. cvcIopcrs andconstructon
ntcrcstsnScouInthcppcswcrcdcspcratctoracccsstourbanIandand
sctouttodsposscsswhoIcpopuIatonswhohadmgratcdtothccityin
thccsandbuItthcrownhousngonIandtowhchthcyhadnotc.
Jncconstructoncompancshrcdgangsotbg,hcaywrcstIcrthugstogo
nto thc ncghborhoods and smashpcopIc's houscs to smthcrccnswth
sIcdgchammcrs, ncIudng aII thcr posscssons. urng thc ppcs you
couId waIk around totaIIy dcvastatcd ScouIncghborhoods,punctuatcd
wthsIandsotntcnscpopuIarrcsstancc.
Ic Marx tcnds to thc vcw that cxpandcd rcproducton s /hc
mcchansm whcrcby surpIusvaIuc s accumuIatcd and produccd, t
cannot contnuc wthout hrst rcaIzng thc ncccssary condtons ot
dsposscsson,whch n ts own rght aIso rcdstrbutcs asscts drcctIy
ntothchandsotthc captaIst cIass. ! hoId,aIongwthLucmburg,that
accumuIatonbydsposscssoncannotbcgnorcd,thatthctakingawayot
j 1 2 t comrtNioN fo mtkx's CAPI7AI
pcnsIonrIghts,oIrIghts tothc commons,oIrIghts to SocIaISccurIty (a
commonpropcrtyrcsourccIorthccntIrcUSpopuIatIon,thcIncrcasIng
commodIhcatIon oIcducatIon, to say nothIng oI cxpuIsIons Irom thc
Iand and thc dcspoIIatIon oI thc cnvIronmcnt, arc aII sIgnIhcant to
howwc undcrstand thc aggrcgatcdynamIcoIcapItaIIsm. Furthcrmorc,
thc convcrsIon oI a common propcrt rcsourcc IIkc cducatIon Into a
commodIty, thc convcrsIon oI unIvcrsItIcs Into ncoIIbcraI corporatIst
InstItutIonswIthmassIvcconscqucnccsIorwhatIstaughtandhow,has
sIgnIhcantIdcoIogIcaI and poIItIcaIconscqucnccsatthc samctImc as It
Isboth a sIgn and a symboI oIa capItaIIst dynamIcthatIcavcs no stonc
unturncdInItsstruggIctocxpandthcsphcrcoIprohtmakIngandproht
takIng.
!n thc hIstory oIprImItIvcaccumuIatIonthat arx dcscrIbcs, thcrc
wcrc all manncr ovIoIcnt sruggIcs agaInst thc IorcIIc cvctns and
thc dIsposscssIons. Jcrc wcrc wIdcsprcad movcmcnts In 8rItaInthc
LcvcIIcrs and thc Iggcrs, Ior cxampIc-that vIoIcntIy rcsIstcd. !n thc
scvcntcnth and cIghtccnth ccnturIcs It wouId not bc an cxaggcratIon
to say that thc prImary Iorms oI cIass struggIc wcrc thosc rcsIstIng
dIsposscssIonrathcrthanthoscrcsIstIngworkpIacccxpIoItatIon.!nmany
parts oIthc worId, thc samc thIng couId bc sad toda 1hIs raIscs thc
qucstIonoIwhIchIormoIcIassstruggIcconstItutcsorIsgoIngtoconstItutc
thccorcoIarcvoIutIonarymovcmcntagaInstcapItaIIsmInagIvcnpIacc
andtImc. !IgIobaI capItaIIsm In aggrcgatc sIncc thc p;cs hasnotbccn
vcry succcssIuI atgcncratInggrowth,thcn thc hrthcr consoIIdatIon oI
cIass powcrhas rcquIrcdamuch strongcrturntoward accumuIatIonby
dIsposscssIon. !t IsprobabIy thIs that has hIIcd thc cohcrs oIthc uppcr
cIasscs to thc poInt oIovcrHowIng. 1hc rcsurgcncc oIthc mcchanIsms
oI accumuIatIon by dIsposscssIon has bccn partIcuIarIy markcd In
thc cxpandIng roIc oI thc crcdIt systcm and hnancIaI approprIatIons,
thc Iatcst wavc oIwhIch has rcsuIcd In scvcraImIIIIon pcopIc In thc
UnItcdStatcsIosIngthcIrhomcsthroughIorccIosurcs.uchoIthIsIoss
oI asscts Is conccntratcd In poorcr ncIghborhoods, wIth partIcuIarIy
scrIous ImpIIcatIons Ior womcn and IorAIrIcan-AmcrIcan popuIatIons
In oIdcr cItIcsIIkcCIcvcIandand 8aItImorc.canwhIIc,thcWaII Strcct
Invcstmcnt bankcrs who grcw ImmcnscIy rIch on thIs busIncss In thc
haIcyonycars cvcn gcthugc bonuscswhcnthcyIosc thcIrjobsbccausc
oIthchnancIaIdImcuItIcs.Jc rcdIstrIbutIvc ImpactoIIoss oIhousIng
assctsIormIIIIonsoIpcopIcandthchugcgaInsonWaIIStrcctappcarasa
PRIMITIvE ACCUMULATIO~ j 1 j
vcrystarkcontcmporarycascoIprcdatIonandIcgaIIzcdrobbcrytpIcaI
oIaccumuIatIonbydIsposscssIon.
PoIItIcaIstruggIcsagaInstaccumuIatIonbydIsposscssIon,Iarguc,arc
ustas Important as morc tradItIonaI proIctarIan movcmcnts.8ut thcsc
tradItIonaImovcmcnts andthcIrassocIatcdpoIItIcaIpartIcstcndtopay
IIttIc attcntIon to struggIcs ovcrdIsposscssIon, ocn rcgardIngthcm as
sccondary and not partIcuIarIyproIctarIan In contcnt sIncc thcyIocus
onconsumptIon,cnvIronmcnt,assctvaIucsandthcIIkc.JcpartIcIpants
InthcWorIdSocIaIForum,onthcothcrhand,arcIarmorcprcoccupIcd
wIth rcsIstIng accumuIatIon by dIsposscssIon and quItc ocn takc an
antagonIstIc stancc toward cIass-bascd workcrs`-movcmcnt poIItIcs on
thc grounds that such movcmcnts do not takc thc conccrns oIWorId
SocIaI ForumpartIcIpants scrIousIy. In8razII,Ior cxampIc,thcLandIcss
Workcrs` Movcmcnt thc MS1), an organIzatIon prImarIIy conccrncd
wIth accumuIatIon by dIsposscssIon, has asomcwhattcnsc rcIatIonshIp
wIth thc urban-bascdWorkcrs` Party thc P1),Icd by LuIa and wIth a
morcworkcrIstIdcoIogy.JcqucstIonoIcIoscraIIIanccsbctwccnthctwo
Is thcrcIorc worthy oIconsIdcratIon both practIcaIIy and thcorctIcaIIy.
IILuxcmburg Is rIght, as I bcIIcvc shc Is,to say that thcrc Is an organIc
rcIatIon bctwccn thcsc two Iorms oI accumuIatIon, thcn wc ought to
bc prcparcd to cnvIsIon an organIc rcIatIon bctwccn thc two Iorms oI
rcsIstancc.AnopposItIonIorccmadcup oIthc"dIsposscsscd'nomattcr
whcthcrthcyarcdIsposscsscdInthcIaborproccssordIsposscsscdoIthcIr
IIvcIIhoods,thcIr asscts orthcIrrIghts,wouId rcquIrcarccnvIsIonIngoI
coIIcctIvcpoIItIcsaIongrathcrdIhcrcntIIncs.IthInkMarxwasIncrrorIn
conning thcsc torms ot struggIc to thc prchistory ot capitaIism. Gramsci
ccrtainly undcrstood thc importancc oIbuilding class allianccs across
thcsctwodIhcrcnttcrraIns,as dIdMao.JcIdcathatthatthcpoIItIcsoI
prImItIvcaccumuIatIonandbycxtcnsIonaccumuIatIonbydIsposscssIon
bcIong cxcIusIvcIy to thc prchIstory oI capItaIIsm Is surcIy wrong. 8ut
that,oIcoursc,IssomcthIngyouwIIIhavctodccIdcIoryourscII.
CHCC!IOn8 8nO !tO_nO8C8
Oncc you gct tothc cnd oICui/u/, VoIumc I, It Is a good Idca to go
backto thc bcgInnIng and rcad thc hrst chaptcr agaIn.You wIII aImost
ccrtaInIyhndyourscIIrcadIngIt InadIhcrcntIIght.YoushouId,bynow,
hnd ItaIot casIcrtoIoIIow.Whcn Iwcnt backthc hrst tImc,! aIso Iound
It much morc IntcrcstIng and cvcn downrIght Iun to rcad. WIth thc
tcnsIon out oIthcwayasto whcthcr IwouIdcvcrmanagc to gct to thc
cnd oIthIs hugc tomc, I rcIaxcd and rcaIIybcgan to cnjoywhat 8crtcII
OIIman caIIs"thc dancc oIthc dIaIcctIcandaIIthc nuanccs IncIudIng
thc Iootnotcs, thc asIdcs and thc IItcraryrcIcrcnccs) that I had mIsscd
hrsttImc through. SkImmIngback ovcrthcwhoIctcxt schcmatIcaIIy Is
aIso uscIuI.H hcIps consoIIdatc somc thcmatIc undcrstandIngs.Whcn I
uscdtosctcxamInatIonpapcrs,IwouIdsomctImcstakcabasIcconccpt
anaskstudcntstcommcntonhowItwouIdwcavcIntoandoutoIthc
IabrIc oIthc book. owmany tImcs, IwouId ask,do you cncountcr thc
conccptoIIctIshIsm ommodItIcs and moncy arc obvIous.8utwhydo
capItaIIstsIctIshIzcmachIncry,andhowcomcaII thosc Inhcrcnt powcrs
oIIabor coopcratIon,dIvIsIons oIIabor,mcntaI capacItIcs and powcrs)
appcarsoocnaspurcpowcrs oIcapItaI Anddocs thcword"appcar
IwayssIgnaIafetIshIstIcmomentereareallsortsofthemesthatcan
betoIIowed hroughou,suchasaIIenatIon onthIs one,trybegInnIngat
thccndwIthprImItIvcaccumuIatIonandworkIngbackwardthroughthc
tcxt ), proccss-thIng rcIatIons IogIc-hIstory InterscctIons conIusIons)
andthcIIke.
Hcrc,howcvcr,IwanttoIookIorward to somcoIthc argumcntsthat
MarxtakcsupInthcothcrvoIumcsandcIscwhcre,byextendIngthcIogIcaI
ImpIIcatIonsoIthcIramcworksctupInVoIumcI.IthInkItIaIrtodothIs
bccausc,as I IndIcatcd at thc outsct,MarxpIaInIyIntcndcdmuch oIhIs
argumcntInVoIumcItoIayathcorctIcaIandconccptuaIbasIsthatwouId
carryhImIorward onto abroadcrtcrraIn.Jc occasIonal InvocatIon oI
thc omnIprcscnt contradIctIons oIcapItaIIsm and thc possIbIIItIcs thcy
IorctcIIoIcrIscsprovIdcsIgnpostsastowherchemIghtbeheaded.rom
t 6 t comrtNioN fo mtkx:s CAPI7AI
thIsIt Is aIso possIbIctogaIn somc poIItIcaI scnscastowhat acapItaIIst
cIass poIItIcs IsIIkcIyto IookIIkc andwhat somc oIthc kcytcrraIns oI
poIItIcaIstruggIcarcgoIngtobc.
VoIumc ! oI Cui/u/ cxamIncs a cIrcuIatIon proccss oI capItaI that
IooksIIkcthIs.
L
M-C. . . . . . . . . . . P . o . . a . . CM M
M
JcstartIngpoIntIsmoncy,armcdwIthwhIchthccapItaIIstgocsIntothc
markcIacc and buys two kInds oI commodItIcs, Iabor-powcr (varIabIc
capItaI) and mcans oI productIon (constant capItaI). Jc capItaIIst
sImuItancousIy scIccts an oranIzational form and a tcchnology and
procccds to combinc thc labor-powcr and thc mcans ofproduction in a
IaborproccssthatproduccsacommodIty,whIchIsthcnsoIdInthcmarkct
Ior thc orIgInaI moncy pIus aproht (surpIus-vaIuc). !mpcIIcd onwardby
thccocrcIvcIawsoIcompctItIon,capItaIIsts appcar (and!uscthatwordIn
Marx's scnsc) tobcIorccdto usc partoIthc surpIus-vaIuc to crcatc cvcn
morcsurpIus-vaIuc.AccumuIatIonIoraccumuIatIonssakcandproductIon
Ior productIons sakc bccomc thc hIstorIcaI mIssIon oI thc bourgcoIsIc,
producIng compound ratcs oIgroth Iorcvcr, unIcss capItaI cncountcrs
IImIts orInsurmountabIc barrIcrs.hcnthIs happcns, capItaI cncountcrs
acrIsIsoIaccumuIatIon (sImpIydchncdasIackoIgrowth). JchIstorIcaI
gcographyoIcapItaIIsmIsIIttcrcdwIthsuchcrIscs,somctImcsIocaIandat
othcrtImcssystcm-wIdc(asIn88, ppandcc8).JcIactthatcapItaIIsm
hassurvIvcdtothIsdaysuggcststhatthcHuIdItyandIIcxIbIIItyoIcapItaI
accumuIatIon-Icaturcs that Marx cmphasIzcs agaIn and agaIn-havc
somchowaIIowcdIImItstobcovcrcomc andbarrIcrstobccIrcumvcntcd.
CIosc InspcctIon oI thc How oI capItaI aIIows us to IdcntI| somc
potcntIaIpoIntsoIbIockagcthatcanbcthcsourccoIscrIousdIsruptIons
andcrIscs.Lctusgoovcrthcsconcbyonc.
(:) WHERE DOES THE INITIAL MONEY COME FROM
JIs Is thc qucstIon that Marx's account oIprImItIvc accumuIatIon Is
prImarIIy conccrncd to answcr. rImItIvc accumuIatIon Is Invokcd at
scvcraIpoIntsInthctcxtatIargcaswcIIasInpart,whIchdcaIsdIrcctIy
krrtrc:ioNs tNo rkocNosrs j 1)
wIthorIgIns.8utasmorcandmorcoIthcsurpIus-vaIuccrcatcdycstcrday
IsconvcrtcdIntoIrcshcapItaI,somorcandmorcoIthc moncyInvcstcd
today comcs Irom ycstcrday's surpIus. JIs docs not ruIc out,howcvcr,
thcpossIbIIItyoIaddItInaIIncrcmcntsoImoncyIromthccontInuatIon
oIprImItIvcaccumuIatIon,orwhat I wouIdprcIcrto caII In Its modcrn
contcxt"accumuIatIonbydIsposscssIon'IIItwcrconIythcaccumuIatIon
Irom ycstcrday that couId bc capItaIIzcd Into cxpansIon today, thcn
ovcr tImc wc wouId surcIy scc a graduaIIy IncrcasIng conccntratIon oI
moncycapItaIInIndIvIduaIhands.8utasMarxpoIntsout,thcrcarcaIso
mcthods oIccntraIIzatIon,maInIyachIcvcdwIth thc hcIp oIthc crcdIt
systcm, that pcrmIt Iargc quantItIcs oI moncy powcr to bc brought
togcthcr vcry rapIdIy. In thc casc oIoInt-stock companIcs and othcr
corporatcorganIzatIonaIIorms,cnormousquantItIcsoImoncypowcrarc
amasscdundcrthccontroIoIaIcwdIrcctorsandmanagcrs.AcquIsItIons
and mcrgcrs havcIong bccn bIgbusIncss,and actIvIty oIthIs kInd can
cntaII ncw rounds oIaccumuIatIon by dIsposscssIon assct strIppIngoI
hrms IayIng ohworkcrs, as practIccdbythc prIvatccquItymovcmcnt) .
Furthcrmorc,thcrcarcaIIsortsoItrIckswhcrcbybIgcapItaIcandrIvcout
thcsmaIIstatcrcguIatIonIsIrcqucntIyuscdasanaId,asMarxprcscIcntIy
notcs).JcdIsposscssIonoIthcsmaIIopcrators ncIghborhoodstorcs or
IamIIyIarms)tomakcwayIorIargccntcrprIscssupcrmarkctchaInsand
agrIbusIncss),IrcqucntIywIththc aId oIcrcdIt mcchanIsms,has bccn a
Iong-standIngpractIcc.SothcqucstIonoIthcorganIzatIon,conhguratIon
andmassoIthcmoncycapItaIavaIIabIcIorInvcstmcntncvcrgocsaway.
H acquIrcs an addcd sIgnIhcanccbccausc oIthc "barrIcrs to cntr' that
cxIstthc scaIc oIccrtaIn actIvItIcs, IIkc buIIdIng a stccI mIII, buIIdIng
a raIIroad rIaunhnan aIrIInc,rcuIrc an Immcnsc InItIaIoutIayot
moncycapItaIbcIorcproductIoncancvcnbcgIn.OnIyrcIatIvcIyrcccntIy,
Ior cxampIc, has It bccomc possIbIc Ior prIvatc consortIa oI assocIatcd
capItaIsrathcrthanthcstatctoundcrtakcmassIvcInIrastructuraIproccts,
IIkcthcChanncI1unncIthatIInks8rItaIntocontIncntaIuropc.AsMarx
notcs InthcchaptcronmachIncry,suchInIrastructuraI proccts bccomc
IncrcasIngIyncccssaryasacapItaIIstmodcoIproductIoncomcsIntoIts
own.ProccsscsoIccntraIIzatIon and dcccntraIIzatIon oIcapItaI dchnca
tcrraInoIstruggIcbctwccndIhcrcntIactIonsoIcapItaIaswcIIasbctwccn
capItaI and thc statc ovcr qucstIons oImonopoIypowcr,Ior cxampIc).
MassIvc ccntraIIzatIon oImoncypowcr has aIImanncr oIImpIIcatIons
IorthcdynamIcsoIcIassstruggIc,aswcIIasIorthctracctoryoIcapItaIIst
{ I 8 t comrtNioN fo mtkx:s CAPI7AI
dcvcIopmcnt.IInothIngcIsc,ItcndowsmanycIcmcntsInthcprIvIIcgcd
capItaIIstcIass(ItscIIconsoIIdatIngwIthccntraIIzatIon) wIththccapacIty
towaIt,bccausc thcIr shccr moncypowcrgIvcs thcm controI ovcr tImc
InwaysthatsmaIIproduccrsandwagcIaborcrsarcohcndcnIcd.8utthc
contradIctory cIcmcnt IIcs In thc Iact that IncrcasIng monopoIy powcr
dImInIshcs thc powcr oI thc cocrcIvc Iaws oI compctItIon to rcguIatc
actIvIty(InnovatIon InpartIcuIar),andthIscanIcadtostagnatIon.
,z) WHERE DOES THE LABOR-POWER COME FROM
Marxpays aIotoIattcntIontothIsInVoIumc . PrImItIvc accumuIatIon
rcIcascsIaborpowcrasacommodItyIntothcmarkctpIacc,butthcrcahcr
thccxtraIabor rcquIrcd to cxpand productIon wIth agIvcn tcchnoIogy
comcs Irom cIthcrmoppIngupthcIIoatIngrcscrvc rcIcascdbyprcvIous
rounsoflaborsavingtcchnological changcorbymobIlizinglatcntan
in cx/rcmi: cIcmcntswIthInthcstagnantrcscrvcarmy.MarxscvcraItImcs
mcntIons thc abIIIty to mobIIIzc agrIcuIturaI Iaborcrs or pcasants Irom
thccountrysIdc,aswcIIasprcvIousIycxcIudcdwomcnandchIIdrcn,Into
thcIaborIorccascrucIaItothcpcrpctuatIonoIcapItaIaccumuIatIon.or
thIstohappcn,thcrchastobcacontInuousproccssoIproIctarIanIzatIon,
whIchmcanscontInuousprImItIvcaccumuIatIonbyoncoranothcrmcans
throughoutthchIstorIcaIgcographyoIcapItaIIsm.8utIaborrcscrvcscan
aIso bc produccd by tcchnoIogIcaIIyInduccd uncmpIoymcnt. PcrpctuaI
accumuIatIon rcquIrcs,Marxshows,apcrpctuaI surpIusoIIaborpowcr.
JIsrcscrvc armyoIIabor IsposItIoncdmorc orIcssIIkc abowwavc In
Iront oIthc accumuIatIon proccss. 1hcrc must aIways bc sumcIcnt and
acccssIbIc Iabor-powcr avaIIabIc. R not onIy nccds to bc acccssIbIc, It
nccds to bc dIscIpIIncd and In posscssIonoIthc rcquIsItc quaIItIcs (c.,
skIIIcdandcxIbIcwhcnncccssary) .
II,Ioranyrcason, thcsc condItIons arc not mct,thcn capItaIIaccs a
scrIousbarrIcrtocontInuousaccumuIatIon.IthcrthcprIccoIIaborgocs
up,bccauscthIsdocsnotIntcrIcrcwIththcdynamIcsoIaccumuIatIon,
orboththcappctItcandcapacItyIorcontInuousaccumuIatIonsIackcn.
Scvcrc barrIcrs In Iabor suppIy, arIsIng cIthcr out oI condItIons oI
absoIutc Iabor scarcIty or Irom thc rIsc oIpowcrIuI organIzatIons oI
Iabor(tradcunIonsandIchpoIItIcaIpartIcs), cancrcatccrIscsoIcapItaI
accumuIatIon. Onc obvIousanswcrtothIsbarrIcrIsIorcapItaIInchcct
to go onstrikcby rcIusingto rcInvcst. 1hIs amounts to thc dcIIbcratc
krrtrcfioNs iNo rkocNosrs j 1
productionofacrisisofaccumulationsoastoproduceunemployment
sumcient to discipline labor-power. Tis solution is, however, costly
for capital as well as for labor. Capitalists would obviously prefer an
alternativepath,whichbringsustothepoliticsoftheproblem.lflabor
istoowellorganizedandtoopowerful,thenthecapitalistclasswillseek
tocommandthestateapparatuseitherbyacoupofthesortthatkilled
Allende and the socialist alternative in Chile in :; or by political
means in the US and Britain, in order to do what Pinochet,Reagan
andThatcheralldid,whichwastosmashlabororganizationandcrush
lehpoliticalparties.Thatisonewaytogetaroundthebarrier.Another
pathistomakecapitalmoremobile,soit canmovetowherethere is
an available proletariat or an available population that can be easily
proletarianized,asinMexicoorChinaoverthepastthirtyyears.Open
immigration policies or even state-organized immigration strategies
(as inmanyEuropean countriestowardthe endofthe :6os)provide
yetanotheralternative.One consequence ofcircumventingbarriersto
laborsupplythiswayistopush organizedlabor (and segmentsofthe
publicmoregenerally)intothepositionofopposingod shoringofjobs
andopposingopenimmigrationpolicies,culminatingindomesticanti-
immigrantmovementsamongtheworkingclasses.
The contradictory aspects of labor-supply politics arise around
questions not only ofthe value of labor-power (set by the conditions
ofsupplyofwage goods to satis(the reproduction oflabor-power at
a given standard ofliving,itselfvulnerable to dehnition bythe state of
classstruggle)butalsoofthehealth,skillsandtrainingofthelaborforce.
CaptaIst cIass ntcrcsts as opposcd to thosc otndvduaI captaIsts,
whotypcaypractccthepotcsoArs mo/ /e Je/uyel) canrayaround
bothsubsidizingthesupplyofcheaperwagegoodstokeepthevalueof
labor-power down and investing in improvements ofthe qualities of
laborsupply,inthislatterregard,themilitaryinterestsofthestatecan
play an important supportive role. So the politics oflaborsupplyhave
all manneroframihcations.Teyhave been acentral focus ofstruggle
throughoutthehistoricalandgeographicaldevelopmentofcapitalism.
Outofthis,someMarxistshavedistilledadistinctivetheoryofcrisis
formation.The so-called proht-squeezetheoryofcrisis hinges onthe
perpetuallyfraughtproblemoflaborrelationsandclassstruggle,both
inthelaborprocessandinthelabormarket.Whentheserelationspose
a barrier to further capital accumulation then a crisis ensues unless

o t comrtNioN fo mtkx: s CAP7AI
someway (or, more likely, mixofways) canbe found for capital to
overcome or circumvent that barrier. Some analysts, such asAndrew
Glyn (seehisimpressive account,writtenwithBob Sutclide,inri/i:h
Cui/u/i:m, Workcr: und /hc Iro[/: Squcczc' ), would interpret what
happenedinthelate:p6osandearly:p;os(particularlyinEuropeand
NorthAmerica)asanexcellentexampleoftheproht-squeezetheoryin
action. Certainly, the management oflabor resources and the politics
oflabororganizationandsupplydominatedthepoliticsoftheperiod.
lt is also true that the survival ofcapitalismhas beencontingent on
the perpetual overcoming or circumvention of this potential barrier
to accumulation.But at this time (zoo), thereis verylittle sign ofa
prohtsqueeze situation as massive labor reserves exist everywhere,
and as the political attack on working-class movements has reduced
seriousworkerresistancetomodestlevelsalmosteverwhere.Tecrisis
ofoo ishardtointerpret,exceptinaroundaboutway(andthereare
someversionsofthetheory,suchasthatofltoh,thatdothis),inproht
squeezeterms.
,) ACCESS TO THE MEANS OF PRODUCTION
Whencapitalistsgointothemarket,theyneedtohndthereextrameans
ofproduction(extraelementsofconstantcapital)tomeettheirneedsfor
reinvestmentofpartofthe surplusin the expansionofproduction.Te
meansofproductionareoftwosorts.theintermediateproducts(already
shaped by human labor) that are used up in the production process
(throughwhatMarxcalls"productiveconsumption,'suchasenergyand
cloth used up in making a coat) and the machinery and hxed capital
equipment,includingfactorybuildingsandthephysicalinfrastructures
suchastransportsystems,canals,ports,allthosesortsofthingsthatare
necessaryforproductiontoproceed.Tecategoryofmeansofproduction
(constantcapital)isevidentlyverybroadandcomplicated.Justasplainly,
thelackofavailabilityofthesematerialinputsandconditionsconstitutes
apotentiallyseriousbarrierto sustainedcapitalaccumulation.Theauto
industrycannot expandwithoutmore steel inputs.H isforthis reason
thatMarxnotesthattechnological innovations in onepartofwhatwe
I. Andrcw GIyn and Bob SutcIttc, ritish Ccitc/ism, Workcrs cnJ thc Iro]its
Squcczc (Harmondsworth: Pcnun, I 972).
krrtrcfioNs tNo rkocNosrs z t
nowcall a"commoditchain"renderinnovationelsewherenecessaryif
itistofacilitatethe generalexpansionofproduction.nnovationsinthe
cotton industryrequired innovations in cotton production (the cotton
gin), transport and communications, chemical and industrial dyeing
techniquesandthelike.
From this we can derive the possibility ofwhat are called"crises of
disproportionality" within the complicated structure of inputs and
outputs within the totality of a capitalist mode ofproduction. At the
endofVolume ll,Marxengagedinadetailedstudyofhowsuchcrises
might form in an economy divided into two grand departments,
those industries producing means ofproduction and those industries
producing the wage goods for the workers (he later complicated the
modelfurtherbyintroducingluxurygoods). WhatMarx showed (and
subsequent more sophisticated mathematical research by economists
likeMorishimahas conhrmed the point) wasthat equilibrium was far
from automatic, given the tendency of capital to ow to wherever the
rate ofprohtwas highest, and that spiraling disproportionalities could
seriously disruptthe reproduction ofcapitalism. ln our own times,we
see also the obvious impact of energy shortages and rising prices on
capitalistdynamics.Barriersofthissortareplainlysourcesofperpetual
concern within a capitalist system, and the equally perpetual need to
overcomeandcircumventbarriersofthissortisohenintheforefrontof
politicalactivity (statesubsidiesandplanningparticularlyofphysical
infrastructuresresearch and development activity, vertical integration
throughmergers,etc.).
SCARCITIES IN NATURE
But behind all this, there lurks a deeper problematic that Marx also
raises severaltimes in Volume .This concerns our metabolic relation
to nature. Capitalism, like anyother mode ofproduction, relies on the
benehcenceofabountifulnature,andasMarxpoints out,thedepletion
anddegradationofthelandmakesnomore sense inthelongrunthan
doesthedestructionothecollectivepowersoflabor,sincebothlieatthe
root ofthe production ofallwealth.Butindividual capitalists,working
in their own short-term interests and impelled onwardbythe coercive
lawsofcompetition,reperpetuallytemptedtotakethepositionofArc:
moi /c dc/ugc/ with respecttoboththelaborerand the soilEvenwithout
j 22 t comrtNioN fo mtkx: s CAP7AI
this, the track ofperpetual accumulation puts enormous pressures on
expandingthesupplyofso-callednaturalresources,whiletheinevitable
increaseinthequantityofwasteisboundtotestthecapacityofecological
systemstoabsorbitwithoutturningtoxic.Here,too,capitalismislikely
toencounterbarrierswhichwillbecomeincreasinglyhardtocircumvent.
Capitalism, Marx notes, "acquires an elasticity, a capacity for sudden
expansionbyleaps andbounds,which comesupagainstnobarriersbut
thosepresentedbytheavailabilityofrawmaterialsandtheextentofsales
outlets"(,;).
Tereare,however,allsortsofwaysinwhichsuchbarriersinnature
can be confronted, sometimes overcome and more ohen than not
circumvented.Naturalresourcesare,forexample,techn

logical,social
andculturalappraisals,andsoanyshortageinnaturecanbemitigated
by technological, social and cultural changes. Te dialectical relation
to naturc that is sct up in thc tootnotc at thc bcginning ot chaptcr 1,
on"MachineryandIarge-Scalelndustry,'indicatesarangeofpossible
transformations,includingtheproductionofnatureitself.Thehistorical
geography of capitalism has been marked by an incredible uidity
and exibility in this regard, so it would be false to argue that there
are absolute limits in ourmetabolic relation to nature that cannot be
transcendedorbypassedin someway. Butthis does notmean thatthe
barriers are not sometimes serious andthat overcomingthem can be
achievedwithoutgoingthroughsomekindofenvironmentalcrisis.A
lotofcapitalist politics,particularlythese days,is about ensuring that
whatMarxcallsthefreegihsofnaturearebothavailabletocapitalon
aneasybasisandsustainedforfutureuse.Thetensionswithincapitalist
politics overthese sorts ofissues can sometimes be acute.Onthe one
hand,the desiretomaintainan expandingowofcheapoilhas been
centraltothegeopoliticalstanceoftheUnitedStatesoverthepasthhy
or sixty years. Making sure thatthe world's oil supplies are open for
exploitation has drawn the US into conflict in the Middle East and
elsewhere, and energy politics, just to take one example of a crucial
relation to nature, ohen emerges asa dominant issue within the state
apparatus.Butontheotherhand,thepoliticsofcheap oilhascreated
problems ofexcessive depletion,aswellasglobalwarmingandahost
ofotherair-qualityissues(ground-levelozone,smog,particulatematter
in the atmosphere and the like), that poseincreasing risks to human
populations. and-use degradation through energy-consumingurban
rrrtrc1ioNs tNo rrocNosrs ] 2]
sprawlhas been a problem at the otherendofthesteady depletion of
natural resources to support all aspects ofgrowth ofthe automobile
industry.
Some Marxists (led by im O'Connor, who founded the journal
Cui/u/i:m Nu/urc Sociu/i:m) refertothebarriersinnatureas"thesecond
contradiction ofcapitalism"(the hrstbeing,ofcourse,the capital-labor
relation). lnourowntimes,itiscertainlytruethatthissecondcontradiction
isabsorbingasmuchpoliticalattentionasthelaborquestion,ifnotmore,
andtherecertainlyisawide-rangingheldofconcern,ofpoliticalanxiety
andendeavor,thatfocusesontheideaofacrisisintherelationtonature,
as a sustainable source ofraw materials and landforfurther capitalist
(urban)developmentaswellasasinkforwaste.
InO'Connor'swork,thissecondcontradictionofcapitalismcomesto
displace thehrst,aherthedefeatsofthe laborandsocialistmovments
ofthe p;cs, as the cutting edge of anticapitalist agitation. I leave you
to make up your own mind on howfarthat sort ofpolitics should be
pursued.Butwhatiscertainisthatthebarrierinrelationtonatureisnot
to be takenlightlyor treated as minor,given the frameworkthat Marx
setsoutinVolumeIofCui/u/. Andinourown times,itisclearthatthe
barriersinnatureareloominglargeandthattheremaybeanimminent
crisis in ourrelationto naturethatwillrequirewidespreadadaptations
(such as the development ofnew environmental technologies and the
expansion ofindustries producing these goods) ifthis barrier is to be
successfully circumvented, at least for a time, within the framework of
endlesscapitalaccumulation.
THE QUESTION OF TECHNOLOGY
Terelationsbetweencapitalandlabor,aswellasthosebetweencapital
and nature, are mediated by the choice oforganizational forms and of
technologies (hardware and sohware).Inolume ,Marxis,think,at
hisverybestintheorizingwheretheimpulsionsfor organizationaland
technologicalchangecomefrom andwhyitisthatcapitalistsinevitably
fetishize machinery, which cannot produce value, because it is a vital
source ofsurplus-value to them both individually and collectively. Te
resultisperpetualorganizationalandtechnologicaldynamism."Modern
industry' Marx notes "never views or treats ofthe existing form ofa
production process asthedehnitiveone.Its technical basis is therefore

t comrtNioN fo mtkx: s CAPI7AI
revolutionary, whereas all earliermodesofproductionwere essentially
conservative"(6:).ThisisapersistentmotifinMarx'sworks.Asnotedin
theCommuni:/ Aunjjc:/o,
The bourgeoisie cannot exist without constantly revolutionising the
instruments ofproduction,andtherebythe relationsofproduction,and
withthemthewhole relations ofsocie. . . Constantrevolutionisingof
production,uninterrupteddisturbanceofallsocialconditions,everlasting
uncertainandagitationdistinguishthebourgeois epochfrom8 other
ones.
But it is at this point also that the coercive laws of competition step
forward, underpinning the search for relative surplus-value. Te
implication,whichMarxfor some reason is reluctantto contemplate,is
thatanyweakeninginthosecoercivelaws,throughmonopoliationand
theincreasingcentralizationofcapitaldescribedinchapter2j,willhave
animpactonthepaceand formoftechnologicalrevolutions.Teclass
struggledimensionsthroughbroad-basedoppositions (e.g.,theIuddite
movement) or sabotage on the shop floor also have to be taken into
account.AsMarxnoted,astimulustotechnologicalchangearisesoutof
thedesireonthepartofcapitaltohaveweaponstodeployagainstlabor.
Temorelaborersbecomemereappendagesofthemachine,andthemore
their monopolizable skills get undermined by machine technologies,
the morevulnerablethey become to the arbitraryauthority ofcapital
Tothedegreethattheactualhistoryoftechnologicalandorganizational
innovationsdisplaysadistinctivelywave-likecharacter,itseemsthatmore
hastobe saidaboutthesedynamicsthanisgiventousevenintherich
analysissetoutinVolumel.
Tese questions becomes even more important because, in setting
up his arguments on the organic and value composition ofcapital in
chapter2j, MarxisclearlyanticipatingtheviewlaidoutinVolume III,
thatanineluctabletendencytowardarisingvaluecompositionofcapital
presagesanequallycompellinglawortendencyfortheprohtratetofall,
inevitably producing long-term crisis conditions in the accumulation
process.It is most emphaticallyhere,inMarx'sview,thatcapitalhas to
confrontacrucialbarrierinternaltoitsownnature.
Te resultant crisis ofprohtability is solely due to the destabilizing
edects oftechnological dynamism arising out ofthe persistent search
krrtrcfioNs tNo rkocNosrs ] 2j
forrelativesurplus-value.Ashort-cutversionoftheargumentstatesthat
the search for relative surplus-value pushes capitalists to labor-saving
technologies,andthemorelaborsaved,thelessvalueproduced,because
laboristhesourceof value.Tobesure,therearecompensatingpossibilities
suchasraisingtherateofexploitationorreabsorbingdisplacedworkers
inexpandedproduction.Butthereare,asIarguedinchapterc,reasons
forbeingskepticalofanynecessaryandineluctabletendencyforthevalue
compositionofcapitaltorise.InVolumeIII,Marxactuallylistsavariety
of"counteracting inuences"to a falling rate ofproht,including rising
rates of exploitation oflabor, falling costs of constant capital, foreign
tradeandamassiveincreaseintheindustrialreservearmythatbluntsthe
stimulus fortheemploymentofnewtechnologies (as notedinVolume
I). In the Grundri::c, he had gone even further, noting the constant
devaluation of capital, the absorption of capital in the production of
physicalinfrastructures,the openingup ofnewlabor-intensivelines of
production and monopolization. My own (probably minority) view is
thatthefalling-rate-of-prohtargumentsimplydoesnotworkintheway
that Marxspecihesit,andIhavelaidoutmorefullywhyIthinksoin1c
Iimi/: /o Cui/u/.
But I also think there is no question that organizational and
technologicalchangesdohaveseriousdestabilizingedectsinternaltothe
dynamics ofcapital accumulation and that Marx's brilliant exposition
of the forces at work impelling perpetual revolutions in technologies
and organizational forms sets the stage for a better understanding of
processesofbothclassandpopularstruggleoverthedeploymentofnew
technologiesandcrisisformation.Tecrisistendenciescanbemanifest(as
"footnoteindicates)inlaorrclations,inthcrclaiononaturcaswcllas
inallothercoevolvingmomentsinthecapitalistdevelopmentalprocess.
Tere are also directly destabilizing edects such as the devaluation of
priorinvestments(machinery,plantandequipment,builtenvironments,
communicationslinks)beforetheirvaluehasbeenrecovered(amortized),
rapidshis in labor-quality requirements (e.g.,skills such as computer
literacy)thatoutpaceexistinglabor-forcecapacitiesandtheinvestments
in social infrastructures needed to create them, the production of
chronicjob insecurity, spiraling crises ofdisproportionalitydue tothe
unevendevelopmentoftechnologicalcapacitiesacrossdiderentsectors,
2. Harvcy, 1hc Limit: to Ccitc/

I75I8.
{ z6 t comrtNioN fo mtxx:s CAPI7AI
dramaticshihsinspatiotemporalrelations (innovationsintransportand
communications) that entail a total revolution in the global landscape
ofproduction and consumption, suddenaccelerationsand speed-up in
capital circulation (computer trading on hnancial markets can create
serious problems, aswehave seen), and so on.And,yes,there maybe
occasionsinwhicharisingvalue composition ofcapitalcanbedetected
withconsequenteectsonprohts.
6 LOSS OF CAPITALIST CONTROL OVER THE LABOR PROCESS
Marxisatgreatpainstoemphasizethatthecreationofsurplusvaluerests
ontheabilityofthecapitalisttocommandandcontrolthelaboreronthe
shopfloorwherevalueisproduced. Thiscommandandcontroloverthe
"form -givinghre"ofthelaborprocessisalwayscontested.The"despotism"
oflaborcontroldependsonsomemixofcoercionandpersuasionaswell
asuponthesuccessfulorganizationofahierarchicalstructureofauthority
inlaborrelations. Plainly,anybreakdowninthiscontrolpresagesacrisis,
andMarxemphasizestheimplicitpowerofworkerstodisrupt,sabotae,
slowdownorsimplyto cease altogether the production ofvalueupon
which the capitalist necessarily relies. Te refusal to succumb to the
disciplinary apparatuses setupbycapital,the powerofrefusaltowork,
is of supreme importance in the dynamics ofclass struggle. In itselfit
canforceacrisis(astheoristssuchasTrontiandNegri emphasizeinthe
"autonomist Marxisttradition) .Thispoweroftheworker is,ofcourse,
limitedinthatworkershave tolive andwithoutthewagetheywillalso
suerunlesstheyhaveavailabletothemsomeothermeansofsubsistence
(suh as ultivation othe land). he potcntial limitthatcxists within
thecirculationofapitalatthepointofproductionandwithinthelabor
process itselfcannot,however, be ignored.Muchattention is therefore
paid bothbyindividualcapitalistsaswellasbythewholecapitalistclass
toensuringlabordisciplineandadequateformsoflaborcontrol.
,)) THE PROBLEM OF REALIZATION AND EFFECTIVE DEMAND
Te seventhpotentialbarriercomesattheendofthesequence,when
the new commodity enters the market to realize its value as money
throughexchange.TheC-Mtransitionisalwaysmoreproblematicthan
goingfromtheuniversalofmoneytotheparticularofthecommodity,
krrtrcfioNs tNo rkocNosrs
] 2
forreasonsnotedbackinchapter. To beginwith,asumcientnumber
of people must need, want or desire the commodity produced as a
use-value.lt atbngsuselesstben itbasnovalue,saysarx.Useless
commoditieswillbedevalued,andthecirculationprocessofcapitalwill
cometoacrashinghalt.Sothehrstconditionfortherealizationofvalue
istopay attention tothe wants, needs and desiresofapopulation.ln
ourtime,relativetoMarx's,animmenseamountofedort,includingthe
formationofawholeadvertisingindustry,isputintomanipulatingthe
natureofwants,needsanddesiresinapopulationtoensurethemarket
foruse-values.Butwhat isinvolvedhere is something morethanjust
advertising. What is required is the formation of a whole structure
and process ofdailyliving (the reproduction-of-daily-life component
of"footnote|") thatnecessitatestheabsorptionofacertainbundleof
use-valuesinordertosustainit.Consider,forexample,thedevelopment
ofthewants,needs anddesires associatedwiththe rise ofasuburban
lifestyle inthe United States aherWorldWar ll.We are talkingabout
the need for not only cars, gasoline, highways and suburban tract
houses but also lawn mowers, refrigerators, air conditioners, drapes,
furniture(interiorandexterior),interiorentertainmentequipment(the
TV) and awholemass ofmaintenancesystemstokeep thisdailylife
going. Daily life in the suburb required the consumption ofall that.
Thedevelopment ofsuburbia ensured a rising demand forthese use
values. ln this way, "to bringforth a newneed'as Marxpresciently
notes, becomes a crucial precondition for the continuity of capital
accumulation ,c) . Te politics of need creation are in themselves
intriguing and increasingly important over time, and now it is well
understoodthat"consumersentiment"isakeyelementinthestimulus
forendlesscapitalaccumulation.
But where does the purchasing power to buy all these use-values
comefromTeremustbe,attheendofthis process,anextraamount
ofmoneythat somebodyholdssomewheretofacilitatethepurchase.lf
not,there is a lack ofedective demand, andwhat is called a crisis of
"underconsumption" resultsthere is not enough demand backed
by ability to payto absorb the commodities produced (see chapter{)
The barrier posedbythe"extent ofsales outlets"has tobeovercome.
(,;p) . lnpart,edeivedemandisexpressedthroughworkersspending
theirwages.Butvariablecapital s always essthanthe total capitalin
circulation,sothepurchaseofwagegoods(evenwithasuburbanlifestyle)
8 t comrtNtoN +o mtkx: s L11
isneversumcientfortherealizationofthewholevalue stream.But,and
this isapointthatemerges inVolume IIofCui/u/, reducingwagesin
themannerpresupposedintheVolumeIanalysisplainlycreatesdeeper
stresses at the point ofrealization and in itselfcan be an important
component in the creation of crises of underconsumption. It was for
thisreasonthatthepoliticsoftheNewDeal,atthetimeofa crisisthat
manycametoregardasprimarilyacrisisofunderconsumption,turned
to supporting unionization and other strategies like Social Security
payments) to bolster edective demand across the working classes and
also why,inzcc8,atapointofeconomicstress,thefederalgovernment
released asixhundred-dollartaxrebateto mosttaxpayersintheUSin
ordertoj ackup consumer edective demand. Raisingtherealwages of
labor thus countering the tendency toward increasing immiseration
ofthe proletariat) maybenecessaryto thestabilizationofcontinuous
capital accumulation, but for obvious reasons the capitalist class let
alone the individual capitalist) may notbewillingto contemplateany
radicalimplementationofsuchasolution.
Butworker demand,thoughanimportantbase,canobviouslynever
go asfar as to solve the problem of realization. Rosa Iuxemburgpaid
great attention to this. First she took up the possibility that the extra
demand could come fromincreasingthe gold supply or in ourdayby
simplyhavingthecentralbanksprintmoremoney) .Whileobviouslythis
canhelpintheshortruninjectingsumcientliquidityintothesystem,as
duringthehnancialcrisisofzcc8,becomesacrucialtool forstabilizing
and sustaining the continued circulation and accumulation ofcapital) ,
i nthelongrunthe edecti stocrateyet anotherkindofcrisis,that of
ination. uxemburg's solution was to presuppose the existence of
somelatentandmobilizable demandoutsidethe capitalist system.Tis
meant the continuation ofprimitive accumulationthroughimperialist
impositionsandpracticesonsocietiesnotyetabsorbedintothecapitalist
modeofproduction.
In the transition to capitalism, and in the phase of primitive
accumulation,the stores ofaccumulatedwealthwithinthefeudal order
could play this role along with the robbery and plundering ofwealth
from the rest ofthe worldbymerchant's capital Over time, ofcourse,
whatmightbecalledthe"goldreserves"ofthefeudalclassesweresteadily
depleted,andthecapacityofthepeasantrytogenerate consumerpower
bywayoftaxationto supportthe consumerism ofalandedaristocracy
krrtrcfioNs tNo rkocNosrs j 2Q
was alsoexhausted.AsindustrialcapitalismconsolidatedinEuropeand
NorthAmerica,sotheplunderingofwealthfromlndia,Chinaandother
alreadydevelopednoncapitalistsocialformationsbecamemoreandmore
prominent,particularlyfrom the mid-nineteenthcenturyonward.Tis
wasthephaseofanimmensetransferofwealthfromEastandSouthAsia
in particular,but also to some degree from SouthAmerica andAfrica,
towardtheindustrial-capitalistclasslocatedin core capitalistcountries.
Eventually, as capitalism grew and spread geographically, the abilityto
stabilizethesystembysuchmeansbecame decreasinglyplausible,even
if such means had ever been entirely sucient (which is doubtful)
duringthephaseoflate-nineteenth-centuryhighimperialism.Certainly,
sincepc or sobutevenmoremarkedlysincethep;cs,thecapacityof
imperialistpractices ofthis sortto perform the role ofgrandstabilizer
throughopeningnewhelds (newmarkets)fortherealizationofcapital
hasbeenseriouslyimpaired.
Te most important answer, one that Iuxemburg failed to notice
but which follows logically from Marx's argument (though he never
articulated it directly because he ruled out the problem ofpotential
realization crisesbyassumption inVolume l), isthatthe solution lies
incapitalistconsumption.Tis,wehaveseen,isoftwosorts.aportion
ofthe surplus-value isconsumedasrevenues (e.g.,luxury goods),but
the other portion is put to further expanding production through
reinvestmentstrategiesthatappear(andlusethiswordinMarx'ssense)
tobeimpelledbythecoercivelawsofcompetition.We hereencounter
the necessity ofwhat Marx calls "productive consumptio as a link
in the realization process. Tis means that surpus-value production
has to internalize its own increasing monetary demand. Te demand
for yesterday's surplus product depends on tomorrow's expansion of
surplus-value production| Capitalist consumption today, fueled by
the surplus gained yesterday, forms the market for yesterday's surplus
productandsurplus-value.Whatthis does is toconvertwhatappears
as a potential underconsumption crisis because of lack of edective
demand into a lack of further prohtable investment opportunities.
ln otherwords, the solution to therealizationproblems encountered
atthe endofthe circulationprocess depends upongoingbackto the
beginningandexpandingevenmore.Telogicofperpetualcompound
growthtakesover.
o t comrtNioN 1o mtxx
:
s CAI7AI
(8) THE CREDIT SYSTEM AND THE CENTRALIZATION OF
CAPITAL
Forthe circulation ofcapital tocomplete its course,two fundamental
conditions mustberealized. First, capitalists must notholdthe money
they gained yesterday. Tey must immediately release it back into
circulation. But as Marx argues in his critique ofSay'slaw, there is no
compelling necessity that says C-M must immediatelybe followed by
M-C,andwithin that asymmetrythere lies theperpetualpossibilitynot
souchfor monetaryandhnancialcrises but for theemergenceofa
barrier to the realization ofsurplus-value through failure to spend. ln
chapter2,weconsideredvariouscircumstancesinwhichitwouldmake
perfectsensetoholdontomoneyratherthantoreleaseit,anditisatthis
pointthatanoverlapemergesbetweenMarx'sandKeynes'sthinkingon
thepossibilityofcrisesofunderconsumption. Keynes soughttobypass
thisbarrierbyresortingtoastate-ledsetoftechnicalstrategiesofhscal
andmonetarymanagement.
Thesecondconditionisthatthetimegapbetweentodayandyesterday
needstobebridgedforcontinuouscirculationtobeassured.Thisgapcan
behlled,asMarxalsoshowsinchapter],bytheriseofcreditmoneysand
the useofmoneyasa means ofaccount. Putbluntly, the credit system
as organized relation between creditors and debtors steps into the
circulationprocesstoplay avitalfunction.Asotheroptionsrunout,this
becomes the main means to cover the edective-demand problem in a
waythatisinternaltocapitalcirculation.lnsodoing,however,thecredit
systemclaimsitspartofthesurplusintheformofinterest.
Atseveralpointseveninolumel ofCa/ta|, Marxtacitlyrecognies
thecrucialroleofthecreditsystem,butinordertogettowhatheconsiders
theheartoftheproblemofthelabor-capitalrelationinpart;,he hnds
it necessary to exclude the facts of distribution (rent, interest, taxes,
proht on merchant's capital) from the analysis.While this helps reveal
andclari( some important aspectsofcapitalist dynamics,it does so at
thecostofpushingtoone side acrucialfeatureinthecapital-circulation
process. Unfortunately, Marx continues to push this aside throughout
muchofVolumell(whileacknowledgingitscrucialpresenceinrelation,
for example,to the circulation oflong-term hxed capital investments),
leading Iuxemburg quite correctly to state that the accumulation
schematalaidoutat the endofthatvolume failedtosolvetheproblem
krrtrcfioNs tNo rkocNosrs ] ] 1
of realization and edective demand. H is onlyrelativelylate inVolume
lllthatMarxgetsroundtoexaminingtheroleofthecreditsystem,and
frankly, these chapters,though full ofsuggestive insights,are a mess (l
triedashardaslcouldandldontmindconfessingitnearlydroveme
crazydoingsoto clean themupinchaptersp and:oof1c Iimi/: /o
Cui/u/). He had, however,establishedinthe Grundri::c that"the entire
crcdi/ :]:/cm, andtheover-trading,over-speculationetc.,connectedwith
it, rests on the necessity ofexpanding and leaping over the barrier to
circulationandthesphere ofexchange''
lfitisthefurtherexpansionofcapitalismthatcreatesthedemandfor
yesterday'ssurplusproduct,thenthismeansthat the realizationproblem
cannot be solved, particularly under today's conditions of globalized
capitalistdevelopment,withouttheconstructionofavibrantandextensive
creditsystemtobridgethegap betweenyesterday's surplus product and
tomorrow's absorption of that surplus product. is absorption can
occureitherthroughthefurtherexpansionofsurplus-valucproduction
(rcinvcstmcnt)orthroughthecapitalistconsumptionofrevcnucs.lnthc
longrun,itcancasilybcshown,the capitalist consumption ofrcvcnucs
willleadtostagnation (thisisthe modcl of"simplcrcproductionMarx
considers in chaptcr z). Only thc furthcr cxpansion of surplus-valuc
generationwillwork in the long run, and it is this that undcrpins thc
social ncccssityforcompound ratcsofgrowthforcvcrasa condition o
capitalism'ssurvival.
lt is at this point that Marx would surclyhave said, had hc got to
this point, that the coercive laws ofcompctition arc mcrcly a tool to
sccurc this absolutely nccessary condition for capitalisms survival. ln
otherwords,the survival ofcapitalism requiresthe maintcnance ofte
coercivelawsofcompetition in ordertokeepthccxpansionofsurplus
valueproductiontomorrowontrackasameanstoabsorbthesurpluses
produced yestcrday. From this it follows that anyslackening of those
coercivepowers,through,forexample,excessivemonopolization,willin
itselfproduce acrisis in capitalistreproduction.TiswascxactlyBaran
and Sweezy's point in Aonoo/] Cui/u/' (written during te :pos,
when monopolies like the Big hree auto companies in Detroit werc
3. Marx, Grundr::c, 4I6.
4. PauI A. aran and Pau M. Swcczy, Nonoo/] Cu/u/ (Ncw 1ork. Mondy
RcvIcw Prcss, I966).
j j 2 t comrtNioN fo mtkx's CAPI7AI
of increasing signihcance). Te tendency toward monopolization and
thecentralizationofcapitalnecessarily produced, asBaran andSweezy
clearlypredicted,thecrisis ofstagation (risingunemploymentcoupled
withacceleratinginflation)thatsohauntedthep;cs.Teanswertothis
crisis was the neoliberal counterrevolution that not only smashed the
poweroflaborbut also edectivelyliberated and unleashed the coercive
laws ofcompetition as"executor" ofthe laws ofcapitalist development
by all manner of strategems (more open foreign trade, deregulation,
privatizationsandthelike).
Butthisprocessisnotwithoutitspotentialcomplications.To begin
with,thepresumptionisthatalltheotherarriers (e.g.,therelationto
nature) to the expansion of surplus-value production tomorrow are
non-operativeandthatthereisplentyofroomformoreproductionto
occur.Tisimplies,forexample,adiderentkindofimperialism,which
is not about robbing values and stripping assets from the rest ofthe
world,but about using the rest ofthe world as a site for opening up
newformsofcapitalistproduction.Teexportofcapitalratherthanof
comodities becomes critical Herein lies the big diderence between
nineteenth-century lndia and China, whose wealth was plundered by
capitalist domination oftheir markets, and the United States and to
some degree Oceania and parts ofIatin America,where unrestricted
capitalistdevelopmentproducingnewwealthdevelopedrapidlyandin
so doing provided a eld for absorbing and realizing surplus product
beinggeneratedintheoldercentersofcapitalism (for instance,Britain
exported capital and machinery to the US and Argentina in the
nineteenthcentury) .lnrecenttimes,ofcourse,Chinahasabsorbedalot
offoreigncapitalinthedevelopmentofproductionandinsodoinghas
generatedahugeedectivedemandnotonlyforrawmaterialsbutalsofor
machineryandothermaterialinputs.
There are,however, two problems inherent in this solution,both of
whichcanreconstitutebarrierstothecontinuityofcapitalaccumulation
intheveryactofseekingtobypassthem.Tehrstderivesfromthesimple
factthatthecirculationprocessbecomesbydehnitionspeculative.itrests
onthebeliefthattomorrow'sexpansionwillnotencounteranybarriers
(includingthatoffurtherrealization),sothattoday'ssurpluscanedectively
berealized.Te speculative element,which is fundamental rather than
exceptional or excessive, means that anticipations and expectations, as
Keynes for one well understood, are fundamental to the continuity of
krrtrcfioNs tNo rkocNosrs j j j
capital circulation. Marx tacilyrecognizes this inVolume lllwhen he
notesthatcapitalistexpansionis,asheputsit,very"Protestant"becauseit
isbasedonfaithandcreditratherthanonthe"Catholicis ofgold,the
truemonetarybase.Anyfall-odinspeculativeexpectationswillbeself-
fulhlling,therefore,and generate a crisis.lnthis regard,itisinteresting
toereadKeynes'sGcncru/ 1cor] andnoticethatthetechnicalsolutions
ofmonetaryandhscalpolicyoccupyonlyaminorpartoftheargument
comparedwiththepsychologyofexpectationsandanticipations.Faithin
thesystemisfundamental,andloss ofconhdence,ashappenedinzoo,
canbefatal.
Tesecondproblemariseswithinthemoneyandcreditsystemitself.
Te possibility of"independent" hnancial and monetary crises, which
Marxpointsoutbut does notdevelop in chapter ], isomnipresent.Te
underlyingproblemlies inthe contradictions ofthe money-formitself
use-value as the representation ofvalue,the particular concrete as
representationoftheuniversalabstractandtheprivateappropriationof
socialpowerseechapterz).WhenMarxdisputesSay'slaw,hepointsto
thefactthatthereisapermanenttemptationtoholdontooney,andthe
morepeopledothis,thegreaterthechecktothecontinuityofcirculation.
ButwhywouldpeopleholdontomoneyOnereasonisthatitisaform
ofsocialpower.H canbuy conscience and honor| lntheLconomic und
Ihi/o:ohicu/ Nunu:cri/:, Marxtellsusthatif"lamugly. . . lcanbuy
formyselfthe most 0cuu/u/ ofwome' (or beautiful ofmen), ifl'm
stupid,lcanbuythepresenceofintelligentpeople,ifl'mlame,lcanhave
peoplecarryme around.Justthinkwhatyoucandowithallthatsocial
power| Sothereareverygoodreasonswhypeoplewanttohangonto
money,particularlyinthefaceofuncertainty.Releasingitintocirculation
in orderto getmore social powertakes an act offaith,orthe creation
ofsafe andtrustworthyinstitutions where you can save your personal
moneywhilesomeone else puts it backinto circulation to makemore
money(whichis,ofcourse,whatbanksaresupposedtodo).
Buttheramihcationsofthisproblemspreadfarandwideintotheheld
ofrepresentations,wherelossofconhdenceinthesymbolsofmoney(the
powerofthestatetoguaranteetheirstability)orinthequalityofmoney
5. KarI Marx, Lconomc und Ph/o:ohc Nunu:cr|: o[!44,trans. Martn
MIIan, n 1hc Nurx-Lngc/: Kcudcr, cd. Robcrt C.Tuckcr (Ncw York. YYNorton,
I 78), I 03.
{ {( t comrtNioN fo mtkx's CAP7AI
(ination)buttup againstmoredirectlyquantitativeconsiderationssuch
as"monetaryfamine"andthefreezingupofthemeansofpaymentofthe
sortthatoccurredinthefallofzoo.
Tebourgeois readWal Street , drunkwith prosperityand arrogantly
certain of himself, has just declared that money is a purely imaginary
creation.'Commodities alone are money, he said. But nowthe opposite
cryresoundsoverthemarketsoftheworld,onlymoneyisacommodity.
Asthehartpantsaerfreshwater,sopantshssoulaermoney,theonly
wealth. n acrisis,the antithesis between commodities and thervalue
form,money,israisedtothelevelofanabsoutecontradiction.z6)
Whatbetterdescriptioncouldwehaveofthecrisisthatsuddenlyerupted
inzoo|
Attheheartofthecreditsystemthereexistsarangeoftechnicaland
legal aspects (many ofwhich can fail orbadly distort simplybyvirtue
of their rules of operation) coupled with subjective expectations and
anticipations.Andtothedegreethatcapitalismcontinuestoexpand,sothe
roleofthecreditsystemasakindofcentralnervoussystemfordirecting
and controlling the global dynamics of capital accumulation becomes
more prominent.Te implication isthatthe control over themeans of
creditbecomescriticalforthefunctioningofcapitalismapositionality
that Marx and ngels had recognized in the Commun/:/ Aunc:/o by
makingthecentralizationofthemeansofcreditinthehandsofthestate
oneoftheirkeydemands(presuming,ofcourse,controloverthestateby
theworkingclass).When this is addedto the keyrole ofthe statewith
respecttothequalityofthecoinageand,even more important,symbolic
moneys (a rolewhich is acknowledgedin chapter),then somesortof
fusionofstateandhnancialpowersappearsinevitable.Tiscontradictory
fusionwasestablishedbytheformationofstate-controlledcentralbanks
with unlimited reserve powers overthe disbursement ofthe means of
credittoprivateappropriators.
lnthesamewaythatcapitalcanoperateonbothsidesofthedemand
and supplyoflabor-power (see chapter :o), so it can operate through
the credit system on both sides ofthe production-realization relation.
lnrecentyearsintheUnitedStates,for example,theincreasinglyliberal
supply of credit to prospective homeowners coupled with an equally
liberal supply ofcredit to property developers to fuel a massive boom
krrtrcfioNs tNo rkocNosrs jjj
inhousingandurbandevelopment.l nthisway,itwasimaginedthatthe
realizationproblemwasdoneawaywith.Teonlydimcultyarosebecause
realwagesdidnotriseinparallelastheolumel analysiswouldpredict,
given the dominanceofneoliberalpoliciesaher :powhichmeantthat
gainsfromrisingproductivitywerenotshared,butconcentratedentirely
inthe upperclasses),sothattheabilityofordinaryhomeownerstopay
odtheirrisingdebtwhichtripledforUShouseholdsfrompotozoo)
wassteadilydiminishing.Teresultantproperty-marketcrashwasutterly
predictable.
Butananalysisofthecurrentcrashsuggestsyetanotherkeyroleof
the credit system. ln the samewaythat Marx noted the role ofcredit
andusury)inextractingwealthfromthefeudallordsthroughprimitive
accumulation, so the credit system is well positioned to target and
extractwealthfromtheassetsheldbylnerablepopulations.Predatory
lendingpractices~aformofaccumulationbydispossessioneventually
resultedinforeclosures,whichallowedassetstobeacquiredatlowcost
and transferred wholesale to boost the long-run wealth of capitalist
classinterests.Teforeclosurewavethatbeganin zoo6 inictedahuge
loss of asset values on, among others, vulnerable African-American
populations.Thissecondmomentof"accumulationbydispossessionvia
thecreditsystemisofgreatconsequencetothedynamicsofcapitalism.
RfacilitatedanimmensetransferofwealthfromEastandSoutheastAsia
toWall Streetin the crisis of:pp;,for example,as aliquidityfreeze
forcedallmannerofviablehrmsintobankruptcysothattheycouldbe
boughtupcheaplybyforeigninvestorsandthensoldbackatanimmense
prohtwhentherecoverycame.Tecredit-ledattackonfamilyfarming
that has occurredinwavessincethe :pos in the United States has in
similar fashion edectively centralized agriculturalwealth in the hands
of massive agribusinesses at the expense of small owners, who have
beenforcedto give up their assetscheaply, through foreclosures.Class
struggleandthe accumulationofcapitalistclasspowerworktheirway
through every possible channel within the maze ofcredit instruments
thatnowexist.
Marxdidnotinvestigatethecreditsysteminasumcientlythorough
wayto confront the realization problem in all its complexity. This is
one ofthe items ofunhnished business inMarxthat requires a good
dealofworktocomplete,particularlygiventhecomplexityofhnancial
andcreditmarkets,whichmakessomuchofwhatgoesonwithinthem
{ {6 t comrtNioN fo mtkx's CAPI7AI
opaqueeventotheirmanagersandusers.Butwhatisinterestingabout
theargumentofVolumel isthatMarx,inmakingthe transition from
the circulation ofcommodities to that ofcapital, hnds himselfforced
toinvokerelationsbetweencreditorsanddebtorsandtheuseofstate-
regulated money as a means ofpayment. He also invokes the time
structure ofproduction processes and payments as a key problem of
monetarycirculationthatrequirescreditifitistoachievethenecessary
continuityofcapitalcirculationandaccumulation."Credit-money'he
pointed out,takes root"spontaneouslyin the function ofmoneyas a
meansofpayment''Tisiswhatlmeanwhenlsaythatacarefulstudy
oftheVolumelargumenttellsusalotaboutwhatistocomeintherest
ofMarx'sanalysis.ltalsohelpsrevealwhatmightbemissingandwhat
thereforeneedstobe morefullyinvestigated.
THE CIRCULATION OF CAPITAL AS A WHOLE
When capital circulation is looked atas a whole,itbecomes apparent
that the numerous potential barriers to the free and continuing ow
of capital through all its moments are neither independent of one
another nor systemically integrated. Tey are best construed as an
ensemble ofdistinctive momentswithin the totality ofthe circulation
process of capital. Tere has been a tendency within the history of
Marxian theorizing about crises, however, to look for one dominant
and exclusive explanation ofthe origins of the obviously crisis-prone
character ofa capitalist mode ofproduction.Tethreebig traditional
campsofthoughtaretheproht-squeeze,thefalling-rate-of-prohtandthe
undercosumptionisttraditions,andtheseparationsareoesostrongly
marked as to put the theories at one another's throats. Te very term
"underconsumptionist"insomecirclesamountstoadirtyword(itseems
tomeanyouareaKeynesianandnota"true"Marxist),whilefansofRosa
Iuxemburggetoutragedatthemean-spiriteddismissalofherideas on
the part of those who place the falling-rateof-proht argument at the
centeroftheir theorizing. lnrecentyears,forobviousreasons,farmore
attentionhasbeenpaidtotheenvironmentalandthehnancialaspectsof
crisisformation,andinwhatarecalled"thenoughties"theseaspectsof
crisisformationhavetopbilling.
5. !bid., 224.
krrtrcfioNs tNo rkocNosrs jjy
lhnditmorecompellinginthespiritoftheanalysislaidoutinVolume
Ialongsidetheextremelyinterestingdiscussionoftherelationsbetween
limitsandbarriersintheGrundri::c everylimitappearsasabarrierto
be overcome to think ofall the limits and barriers discussed above
aspotential points ofblockage

each ofwhichcanslowdownordisrupt
thecontinuityofcapitalowandtherebycreateacrisisofdevaluation.I
thinkitalsoimportanttounderstandthepotentialityofdisplacementof
onebarrierbyanother.Movesmadetoalleviateacrisisoflaborsupplyby
generatingwidespreadunemploymentcanobviouslycreateproblemsof
aninsumciencyofedectivedemand

forexample.Consequentmovesto
resolvetheedective-demandproblembyextensionsofthecreditsystem
among the working classes can ultimately create crises ofconhdence
in the quality of money (as registered by inationary crises

sudden
constrictions of credit supplyand nnancial crashes). l also think it is
morc in kccping with arx's trcqucnt invocation ot thc uid andcxib!c
characterofcapitalistdevelopmenttorecognizetherapidrepositioningof
onebarrierattheexpenseofanotherandsorecognizethemultipleways
inwhichcrisescan be registeredindiderenthistoricalandgeographical
situations.
Summarizing

the potential barriers are as follows. (:) inability to

mass together enough original capital to get production under way
("barriers to entry problems) , (z) scarcities oflabor or recalcitrant
forms of labor organization that can produce proht squeezes, ({)
disproportionalitiesanduneven developmentbetween sectorswithin
the division oflabor, (|) environmental crises arising outofresource
depletion and land and environmental degradation, (,) imbalances
and premature obsolescence due to uneven or excessively rapid
technologicalchangesdrivenbythecoercivelawsofcompetitionand
resistedbylabor, (6)workerrecalcitranceorresistancewithinalabor
processthat operates under the command and control ofcapital, (;)
underconsumption and insumcient edective demand, ( ) monetary
and hnancial crises (liquidity traps

ination or deation) that arise

withinacreditsystemthatdependsonsophisticatedcreditinstruments
and organized statepowers alongside a climate offaith and trust.t
eachoneofthesepointsnternaltothecirculation process ofcapital,
thereexistsanantinomy

apotentialantagonismthatcanirruptasan
7. Marx, GrunJrissc, 408.
{ { 8 t comrtNioN fo mtkx: s CAPI7AI
opencontradiction(tousethelanguagethatMarxfrequentlydeploys
inCu//u/).
Tisisnottheendoftheanalysisofcrisis formationandresolution
under apitalism, however. o begin with, the dynamics of uneven
geograhical development together with the whole problem of
spatiemporal unfolding ofcapitalist development on the world stage
are stressful in the extreme, as capital seeks to create a geographical
landscape (of physical and social infrastructures) appropriate to its
dynamicatonetimeonlytohavetodestroyitandre-createyetanother
geographical landscape at a later point. Te changing dynamics of
urbanization on the world stage dramatically illustrate this process.
Geopolitical conicts (including catastrophic wars) abound and,
arising astheydo out ofthepeculiarqualities ofterritorialized power
(requiring an adequate theorization of the state, a set of institutions
and practices that is frequentlyinvoked inVolumelbut,likethecredit
system,lehundertheorized),havealogicthatdoesnotneatlyhtintothe
requirements of continuous capital circulation and accumulation. Te
recenthistoryofglobalshihsinproductionanddeindustrializationhave
entailedanimmenseamountofcreativedestruction,largelyworkedout
through sometimes local but in other instances continent-wide crises
(suchasthatwhichhitEastandSoutheastAsiain:pp;).Furthermore,
thepossibilityofexternalshocks(includinghurricanesandearthquakes)
triggeringcrisescannotbeexcluded.Whenalmostallactivitystoppedin
theUnitedStates ingeneralandNewYorkinparticularinthewake of
p::,thestoppageofcirculationwassothreateningthatwithinaweekthe
powersthatbewereeverywhereurgingthepopulationto get outtheir
creditcardsandgoshopping
TespiritofMarxianinquiryintotheactualhistoryofcrisesshould,
lbelieve,beopentoallthesepossibilities.Keyneswas,lsuspect,basically
correctto interpretthe crisisofthe:pos as mainly an insumciencyof
edective demand (though probably for class reasons,he did not point
out the relationto income inequalitynot historically replicated until
recentlythatexplodedinthe:pzosowingtowagerepression). Tiswas
exacerbated by the factthat people got nervous about the capacityfor
sustainedaccumulationandsostartedtoholdontomoney.Andthemore
peopleheldontomoney,themorethesystemgummedup.Thisiswhat
Keynescalledtheliquiditytrap.Wayshadtobefoundtoenticemoneyout
ofhiding,andoneanswerwasdebt-hnancedgovernmentexpendituresto
krrtrcfioNs tNo rkocNosrs Q
reinvigorate capitalcirculation the otheranswerwastogo to war). On
the other hand, l thinkAndewGlyn and others werebasically correct
to see a strong element ofpront squeeze in the dimculties ofthe late
:p6os in the advanced capitalist countries, wherc labor scarcitics and
stronglabororganizationwereearlyputtingabrakeonaccumulation.
Exccssivemonopolizationsimultancouslyhelpedslowproductivity,and
this,alongwithahscalcrisisofthcstatc associatcdwiththcUSwarin
Vietnam),initiatedalongphaseofstagdationthatcouldonlybcrcsolvcd
by disciplining labor and liberating thc cocrcivc laws of compctition.
ln this case, the crisis cascadcdfromonc barricr point to anothcr and
backagain.Terelationtonaturcalsoadcctsprohtability,particularlyif
thcrcnt a catcgorywhich,likc intcrcst,isnothandledinVolumc l) on
naturalrcsourccs risesdramatically.
Mypointhcre is notto attempt somepottcdhistoryofcrises but to
suggcstthatthcinsightsthatomcromastudoarsworksnccdto
bcuscddcxiblyandcontingcntlyrathcrthanformalistically.Myownvicw
ofthc internal dynamics ofcrisis thcory as opposcdto indcpcndently
occurringbutnotunrclatcdgcopoliticalstrugglcs)rcstsonananalysisof
thcvariouslimitsandbarrierscncountcrcdwithinthccirculationproccss
astudyofthevariousstratcgicsfor ovcrcomingorcircumvcntingthcsc
limitsandbarricrspoliticallyandcconomicallyandacarcfulmonitoring
ofthe ways inwhichbarriers overcome or circumventcd at onc point
resultinnewbarricrsappearingatotherpoints.Tecontinuousunfolding
andpartialresolutionofthecrisis tendencies ofcapitalismbecomesthe
subjectofinquiry.
Bchindthis liesadeeperproblcm.Accumulationforaccumulation's
sake and production for productions sake and the perpctual necd to
achievcacompoundrateofgrowthwere allverywell when the coreof
industrialcapitalismwasconstitutcd,asitwasaround:o,byactivitics
inthcfortysquarcmilcsaroundManchcstcrandafcwothcrhotspotsof
capitalistdynamism.Butwhatwcarcnowconfrontingisthcpossibility
ofa compoundratc ofgrowthof,say,] perccnt pcrycar,onthcbasis
ofcvcrythinghappcningin Chinaand thc rcst ofEast and Southcast
Asia,anexpandingcoreofactivityinlndia,RussiaandEasternEuropc,
surgingcconomicsinthe Middlc astand atinAmericaand intensc
pockctsofcapitalistdcvclopmcntinAfrica,aswcllasinthctraditional
hcartlands ofcapitalism in NorthAmerica,Europc and ccania. Tc
mass ofaccumulation and of physical movemcnt rcquircd in future
] D t comrtNioN 1o mtkx: s CAII7AI
yearstokeepthiscompoundrateofgrowthgoingwillbe notingshort
ofstaggering.
l view crises as surface eruptions of deep tectonic shihs in the
spatiotemporal logic of capitalism. Te tectonic plates are now
accelerating their motion, and the likelihood of more frequent and
oreviolent crises increases.Themanner,form,spatialityandtimeof
theconsequenteruptionsarealmostimpossibletopredict,butthatthey
willoccurwithgreaterfrequencyandpowerisalmost certain,making
the events ofzoo appear normal if not trivial in comparison. Since
these stresses are internal to the capitalist dynamic (which does not
precludesomeseeminglyexternaldisruptiveeventlikea catastrophic
pandemic),thenwhatbetterargumentcouldtherebe,asMarxonceput
it,forcapitalism"tobegoneandtogiveroomtoahigherstateofsocial
production"
Butthisis easiersaidthan done.R entails, ofcourse,theshaping ofa
politicalproject.Formiswecantwaituntilweknoweveryingweneed
toknoorevenunderstandeverythingMarxhastosay.Marxholdsup a
mirrortourrealityinVolumelinsuchawayastocreateanimperativeto
act,andemesitclearthatclasspolitics,lassstruggle,hastocenterwhat
wedo.lnitselthisdoesntsoundparticularlyrevolutionary.Butoverthepast
quarterenturmanyofushavelivedinawodwherewehavebeentold
againanagainthatclassisirrelevant,thattheveryideaofclassstruggleisso
old-fashonedastobemerefodderforacademic dinosaurs.Butanyserious
readingofCui/u/ showsirremtablythatwewgetnowhereunlesswewrite
"ClassStruge"onourpoliticalbannersandmarchtoitsdrum-beat.
We eed, however, to better dehne exactly what this might mean
or ourlaceandtimes.Marxinhisowndaywasoenuncertainasto
exactlywhattodo,whatkindsofpoliticalallianceswouldmakesense,
what kinds ofobjectives and claims should be articulated. But what
Marx also shows is that even in the midst of such uncertainties, we
cannotfail to act. Cynics and critics typically objectthat one is trying
to reduce questions of, say, nature, gender, sexuality, race, religion or
whatevetoclassterms,andthatthisisunacceptable.Myanswertothis
is.notatall.Teseotherstrugglesareclearlyimportantandhavetobe
wagedintheirownright. But,lwouldnote,it israreforanyofthem
nottointernalizeasignihcantclassdimension,thesolutiontowhichis
8. Marx, Grundrssc, 750.
krrtrcfioNs tNo rkocNosrs jq1
anecessarythoughneversumcientconditionfor,say,anadequateanti
racistorpro-environmentalistpolitics.
ustlook,forexample,attheimpactoftheso-calledsubprime-mortgage
crisisonconditionsinthecitofBaltimore.Adisproportionatenumberof
blackhouseholdsandhouseholdsheadedbysineparents(mainlywomen)
havebeendispossessedoftheirlivingrightsandinsomecasestheirassets
inthe courseofaviciousclasswarofaccumulationby dispossession.ln
suchasituation,wecannotwalkawayfromthecategoryofclassanddeny
itsrelevance.Wehavetostopbeingnervousandfearmloftalkingclasstalk
andofmobilizingpoliticalstrateesaroundnotionsofclasswar.
But there is, ofcourse,a reason for the wishful silences.Class is the
onecategorythatthepowersthatbedonotwantanyonetotakeseriously.
Te Wu// S/rcc/ )ournu/ scathinglymocksanythingsmackingofclasswar
asbeinggratuitouslydivisivewhenthenationshouldbepullingtogether
toconrontitsdiculties.Terulingelite oes noteverwanttoopenly
admit,letalonediscuss,the onecentralthingit isengagedon,its class
strategytoaugmentitswealthandpower.
TheonethingthatMarxagainandagaininsistsonisthattheconceptof
class,inallitsambiguousglorisindispensabletoboththeoryandaction.
Butthereismuchtodotomakethecategorywork.Forexample,oneof
thequestionsthatcomesoutofreading Cu//u/ is what tosayaboutthe
relations between struggles waged around primitive accumulation and
accumulation by dispossession on the one hand, and the class struggles
typicallywagedaroundtheworkplaceandinthelabormarketontheother.
H isnotalwayseasytoputthesetwoformsofstruggletogether.Butlhnd
ithardtoignorethevastarrayofstrugglesgoingonintheworldagainst
dispossession,eventhough some ofthemaremerelyahardenedformof
retrograde not-inmybacardpolitics.The division between thesetwo
grand formsofclassstrugglehurtspolitically.ButwhatMarx's chapter on
"The Working Day"teaches is that alliances are important and that it is
hardtogetanywherewithoutthem,becausethecapitalistclassaccumulates
capitalbywhatevermeansare athand,andthatmeansatthe expenseof
the rest ofus.Capitalists gethlthyrichwhileeveryoneelse stagnates or
suders.Thisclassprivilegeandpower,Marxsays,mustbebattledagainst
anddestroyedtomakewayforanothermodeofproduction.
ButwhatVolumelalsoteachesisthatthedisplacementofonemodeof
productionbyanotherisadrawn-outandcomplicatedprocess.Capitalism
didnotsupplantfeudalismwithsomeneatrevolutionarytransformation.H
{(z t comrtNioN fo mtrx' s CA!IA1
hadtogrowwthnthcntcrstccsotthcoIdsocctyandbtbybtsuppIant
t,somctmcsthroughtorcc,voIcncc,prcdatonandsczurcsotassctsbutat
othcrtmcswthguIcandcunnng.AndtohcnIostbattIcsaganstthcoId
ordcrcvcnastcvcntuaIIywonthcwar.Astachcvcdamodcumotpowcr,
howcvcr,thadtobuIdtsaItcrnatvcathrstonthcbassotthctcchnoIogcs,
socaI rcIatons, mcntaI conccptons, producton systcms, rcIatons to
naturcandpattcrnsotdaIyItc asthcschadIongbccn consttutcd undcr
thcprcccdngordcr.HtookacocvoIutonanduncvcndcvcIopmcntotthcsc
dHcrcntmomcntswthnthcsocaItotaItysccchaptcr6)bctorcttound
notonIytsownunguctcchnoIogcaIbascbutaIsotsbcIctsystcms and
mcntaIconccptons,tsunstabIcbut cIcarIy cIass-rddcn conhguraton ot
socaIrcIatons,tscurousspatotcmporaIrhyhmsandtscguaIIystrangc
waysotdaIyItc,to saynothngottsproductonproccsscs,bctorctwas
truIypossbIcto saythatthswas captaIsm, aIbctconstantIychangng n
rcsponsctotsownncvtabIccontradctons.
l bcgan ths book by urgngyou to try to rcad Marxon Marx`s own
tcrms. ObvousIy, my own vcw as to what thosc tcrms arc has pIaycd a
crucaIroIcnthcmcntaImap lhavc trcdtoconstructto gudcyou. My
purposc n ths was not to pcrsuadc you that l havc thc corrcct Inc,thc
corrcct rcadng, but hrst to opcn a way tor you to construct your own
mcanngsandntcrprctatons.ManypcopIcwII,lknow,dsputcmyrcadng,
asyoushouId,too,nwhoIcornpart.Formc,thc sccond crucaItasksto
opcn up aspacc otdaIoguc and dscussonnsuch awayas to brngthc
Marxanvsonotthcwodbackontoccntcr stagc,both ntcIIcctuaIIyand
poItcaII Marx`s works havctar too much to tcII us rcgardng thc pcrIs
otourtmcs to consgnthcmto thc dustbnothstory. H shouIdbynow,
gvcn Ihc cvcnI Ot Ihc IaI ycar Or O, bc cvIdcnI IhaI wc ncc IO IIn
"outsdc thc boxotrcccvcdwsdoms."Lvcnts,`wrotc Hcnr ctcbvrc n
hsIttIcbook1c Lx/o:ion, covcrngthccvcntsotp6,"bcIctorccasts,to
thccxtcntthatcvcnts archstorc,thcyupsctcaIcuIatons.Jcymaycvcn
ovcrturnstratcgcsthatprovdcdtorthcrpossbIcoccurrcncc`Lvcnts"puII
thnkcrs out otthcr comtortabIc scats and pIungc thcm hcadIong nto a
wavcotcontradctons`WhatbcttcrmomcnttostudycarctuIIythcnncr
contradctonsotcaptaIsmandthcworksotthatsupcrbdaIcctcanwho
ddsomuchtomakcthcmsoIumnousIytransparcntl
. Hcnr Lctcbvrc, 1hc Lx/oson. Nurx:m und |hc Ircnch Kcvo/u|on, trans.
AIbcrt EhrcntcId (Ncw York MonthIy Rcvcw Prcss, I5), 7-8.
krrtrcfioNs tNo rkocNosrs jqj
While mental conceptions cannot ontheir own change the wold,
idea are, as Marx himselfobserved, a material force in history. Marx
wroteCalta| tobetterequipustohghtthatstruggle.Buthere,too,there
isno easypath,anymore thanthereis some"royal roadtoscience'As
Bertolt Brechtoncewrote.
Htakesalotofthingstochangethewod.
ngerandtenacity.Scienceandindignation,
Teuickinitiative,thelongreection,
Tecoldpatienceandtheinnniteperseverance,
Teunderstandingoftheparticularcaseandtheunderstandingofthe
ensemble
nlythelessonsofrealitycanteachustotransformrealit
nOCX
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2 A COMANION TO MARX'S CA!IA1

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