![]() ![]() How? You accumulate capital by the creation of surplus value, which is unpaid labour appropriated by employers.Ħ. Commodity sales increase the amount of exchange-value owned by capitalists, yielding profit and thus helping them accumulate capital. Socialist revolution will disabuse them of that.ĥ. Capitalists think capital has magical significance. Like God, capital seems mystical and immutable, but is really only a function of social relationships (Rowan Williams, a Marx fan, disagrees with the God bit). ![]() As Francis Wheen stresses in his biography of Marx, Capital is partly a racy gothic novel, a Frankenstein-like tale of how we created a monster from which we are alienated and which, by means of class struggle, we will slay.Ĥ. This is measured by the amount of labour that goes into making each commodity - such is the Marxist labour theory of value, and the source of what Marx called the fetishism of commodities.ģ. How, you'll be asking, can one measure the difference in value between, say, a 80GB iPod, and a new copy of Capital? It's the exchange value, stupid. ![]()
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