Download A Guide to Marx's 'Capital' Vols I-III by Kenneth Smith PDF

By Kenneth Smith

This booklet presents a entire advisor to all 3 volumes of Karl Marx’s ‘Capital’, with recommendation on additional studying and issues for extra dialogue. spotting the modern relevance of ‘Capital’ in the course of the present monetary drawback, Kenneth Smith has produced a necessary consultant to Marx’s rules, relatively as regards to the stream of money-capital. This consultant uniquely offers the 3 volumes of ‘Capital’ in a special order of examining to that during which they have been released, putting them in its place within the order that Marx himself occasionally suggested as a extra uncomplicated manner of analyzing. Dr Smith additionally argues that for many of the 20th century, the complete improvement of the capitalist mode of creation (CMP) has been undermined by way of the life of a non-capitalist ‘third world’, which has prompted the CMP to tackle the shape of what Marx known as a hugely built mercantile process, instead of one characterised through an uninterrupted circuit of business capital of the type he anticipated may advance. whereas the consultant might be learn as a booklet in its personal correct, it additionally includes exact references to Volumes I–III in order that scholars, seminars and chat groups can simply make connections among Smith’s factors and the correct elements of ‘Capital’.

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But this, Marx insists, does not alter the facts of the matter. Either the capitalist, in keeping intact his original investment and thereby claiming to be the rightful owner of the capitalist enterprise (as it has now become), must admit that he has been consuming unproductively surplus value produced by the unpaid labour of others who worked for him during the previous 5 to 10 years, or, if as seems likely he is unwilling to concede this point, he must agree that the money he has been living off during the previous 5 to 10 years (or whatever), that he has consumed unproductively in order to reproduce himself and his family, was a return to him of a sum equivalent in value to his original investment, in which case it is hard to see on what basis he can continue to claim to be the legitimate owner of the process of production in question.

Secondly, there was likely to be a considerable difference in the quality of the labour that the labourers performed for themselves and the quality of the labour that the labourer performed for the landlord, since the labourer could clearly distinguish between labour that they performed for themselves on their own land and the labour they performed for the benefit of the landlord. Thirdly, the labourers would have known exactly what it cost to reproduce themselves and/or their families and exactly which portion of the working week they worked for themselves and which portion they worked for the landlord.

2. COOPERATION AND THE DIVISION OF LABOUR IN CAPITAL, VOL. 1, CH. e. e. the separation of the various parts of the labour process into its constituent parts. However, in so far as manufacturing industry is concerned, Marx argues that these two processes are really just two sides of the same coin, and in fact, Marx actually defines manufacturing as cooperation based on the division of labour (1974a, 343 [1976, 485]). In Chapter 13, Marx looks at various types of simple cooperation which do not involve a sophisticated division of labour; for example, when everyone helps to harvest a crop or dig a canal.

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