New PDF release: A Guide to Marx's Capital, Volumes 1-3 (Key Issues in Modern

By Kenneth Smith

ISBN-10: 0857285564

ISBN-13: 9780857285560

This e-book offers a finished consultant to all 3 volumes of Karl Marx’s ‘Capital’, with suggestion on additional analyzing and issues for additional dialogue. spotting the modern relevance of ‘Capital’ in the course of the present monetary predicament, Kenneth Smith has produced a vital advisor to Marx’s principles, rather near to the flow of money-capital. This advisor uniquely offers the 3 volumes of ‘Capital’ in a special order of studying to that during which they have been released, putting them as an alternative within the order that Marx himself occasionally urged as a extra straightforward manner of studying. Dr Smith additionally argues that for many of the 20th century, the complete improvement of the capitalist mode of creation (CMP) has been undermined through the life of a non-capitalist ‘third world’, which has brought on the CMP to tackle the shape of what Marx known as a hugely constructed mercantile approach, instead of one characterised by way of an uninterrupted circuit of commercial capital of the sort he anticipated might enhance. whereas the advisor might be learn as a publication in its personal correct, it additionally includes specific references to Volumes I–III in order that scholars, seminars and chat groups can simply make connections among Smith’s reasons and the correct components of ‘Capital’.

Review
‘Marx’s paintings remains to be of unrivalled analytic importance for making experience of the rigors and tribulations of the worldwide capitalist economic system. The well timed booklet of Ken Smith’s very good “Guide to Marx’s ‘Capital’” will turn out to be of serious worth to researchers, lecturers and scholars striving to make experience of the nation we're in.’ —Barry shrewdpermanent, Professor of Sociology, college of Portsmouth

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Extra resources for A Guide to Marx's Capital, Volumes 1-3 (Key Issues in Modern Sociology)

Example text

This is correct but leads to the absurd conclusion that detail labourers are unproductive workers, while productive labour is identified either with the production of surplus labour or, more generally, with the production of something useful, and therefore Marx is forced to argue that the detail labourer is a productive labourer individually by virtue of his or her collective labour as a producer of surplus value. The problem with this argument, however, is that if detail labourers are productive workers by virtue of their collective production of surplus value as opposed to the manual quality of the work they perform, so too must other non-manual workers (such as supervisors and managers) be productive where they produce surplus value for capital as a result of their individual contributions to the collective labour function.

Unless it has been expanded or extended in some way, the factory, and in all likelihood everything in it, will look much the same as it ever did and it is due to the fact that an entirely new capital of £1,000 has much the same physical form and occupies the same physical space as the original sum invested that the capitalist is able to continue to claim to be the legitimate owner of the enterprise in question. e. once the second round of the process of production begins), from this point onwards the capitalist does not live off his investment as he supposes (and as was in fact the case during the first reproduction cycle of his original capital), but does now live off the unpaid labour of others and thus is no longer the owner of the enterprise in question (the thing he is entitled to claim to be the owner of SIMPLE REPRODUCTION 47 having been used up and consumed unproductively by him during the first cycle of production).

Well, he or she might, but then in this case, just like any other labourer, he or she would be entitled in the form of a wage to the value of that part of the process of production he or she had him- or herself produced anew. But Marx, as we have already seen, covers this possibility in his discussion of the collective labourer and the collective capitalist (Capital, Vol. I, 1974a 316, 321, 329–30 and 476 [1976, 452, 458, 468–9 and 643–44]). 48 A GUIDE TO MARX’S CAPITAL The capitalist is entitled to the value of the product of the process of production which he or she produces as part of the collective labour of the enterprise, and where this labour is exceptionally skilled or of a greater intensity than the labour performed by the average worker (as we might well imagine the capitalist to argue that the labour of supervision is) Marx is prepared to admit that the capitalist might well be paid more than the average worker in the enterprise due to the greater cost of reproducing his labour.

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A Guide to Marx's Capital, Volumes 1-3 (Key Issues in Modern Sociology) by Kenneth Smith


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