| This question <561|573> overall <565|570> Skyler: <469|97>. |
| Term Paper 299: Essay about Chapter Twenty-Five |
| [566] Skyler: essay of chapter twenty-five I've chosen to do an indepth study of section one of chapter twenty-five. This chapter focuses on the growth of capital on the working class, focusing on the composition of capital and the process of accumulation. Composition of capital is broken down into two areas. The value-composition of capital as the ratio of constant to variable capital; c/v, measured in values. The second is technical composition of capital; the pool of means of production relative to the employed labor is its counterpart in use-value terms. Marx also explains that organic composition is the understanding when he refers to the composition of capital. Organic composition is defined; “value-composition of capital in so far as it is determined by its technical composition and mirrors the changes of the latter.” Pg. 762 The average of individual capitals invested into a branch of production gives us the composition of the total capital in the branch of production being considered. So the overall average of a composition from each branch of production gives us the compostion of the total social capital of a country. “To figure the average composition of capital, one includes the ‘value or organic’ composition of the complete capital of a country.” |
| Growth of capital implies growth in labour-power. Labor power is the main factor in allowing capital to grow. Businesses function because of the laborer doing the work. When capital accumulates, demand for labour-power increases,although the supply may be less than the demand, causing an increase in wages. The reproduction of labour-power increases the amount of capitalists and wage-laborers. Accumulaton of capital is therefore a multiplication of the working class. John Bellers said that a rich man is not rich unless there is a laborer in the field to do the work of the rich man's assets. |
| In a free country where slaves are not allowed, the wealthy survive on a multitude of laborious poor. “To make the society ... happy and people easier under the meanest circumstances, it is requisite that great numbers of them should be ignorant as well as poor; knowledge both enlarges and multiplies our desires, and the fewer things a man wishes for, the more easily his necessities may be supplied.” Marx pg.\ 764:1/o |
| The mechanism of accumulation increases capital as well as labouring poor. The valorization of growing capital is increased because of labour-power from the wage-labourers. The laborer is dependant upon the product in the capitalist system. Becasue of this, workers place themselves in a state of easy and liberal dependance. Individuals with great fortune almost always owe their advantages to the abilities of others. The ability to command laborers separates the rich from the poor. |
| The workers relationship of dependence becomes more extensive than intensive when the price of labor increases due to accumulating capital. In other words, chain around the laborers neck is loosened just alittle as time goes on.The buyers aim is production of commodities which include an amount of unpaid labor. This law of production is based on the surplus-value (additional profits.) So as wages increase, the amount of unpaid labor decreases. |
| A rise in the price of labour due to the accumulation of capital includes to alternatives: 1 Either the price of labour keeps on rising, because its rise does not interfere with the progress of accumulation. 2 Accumulation slackens as a result of the rise in the price of labour, because the stimulus of gain is blunted. In case one, the dimished rate mor the increased labour-power were the cause of excess capital. The capital made the exploitable labour-power insufficiently. In case two, not the increased rate, but the relative reduction in the amount of capital caused the exploitable labour-power or price to be in excess. Accumulation is the independant, rate of wage is the dependant. A general rise in the price of commodities is expressed as a fall in the relative value of money. The law of capitalist production is simply the relation between the unpaid labor and the paid labor in the same working population. Wages can rise by the addition of a paid labour if the quantity of unpaid labour, accumulated by capitalists increases to fast. When this happens, unpaid labour begins to diminsh in return, and a point is reached that caused smaller returns in capital, slow downs in accumulation and a rise in wages. “The rise in wages is therefore confined within limits that not only leave intact the foundations of the capitalist system, but also secure its reproduction on an increasing scale.” Marx Pg. 771. So workers are there to satisfy the need for valorization of commodities. In conclusion, “Just as man is governed, in religion, by the products of his own brain, so, in capitalist production, he is governed by the products of his own hand.” Marx Pg. 771. |
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