| This question <615|527> overall <615|617> Scott: <583|94>. |
| Term Paper 299: Essay about Chapter Twenty-Five |
| [616] Scott: Chapter 25 Marx builds the basis for his conclusions on the accumulation of capital in a logical order. First, he proceeds to define the terms, which he utilizes in his critiques of Capitalism. Marx then offers his conclusion that accumulation of capital is the multiplication of the proletariat, and then intersperses his argument with fine analogies. One choice analogy is “ A rise in the price of labor, as a consequence of accumulation of capital, only means, in fact, that the length and weight of the golden chain the wage-worker has already forged for himself, allow of a relaxation of the tension of it.” Marx then continues with explanations concerning the technical and the value composition of capital and their inter-relationship. Next, he points out that every accumulation of capital becomes the means of new accumulation. |
| Centralization assists accumulation in expanding due to economies of scale. Additionally, competition leads to centralization and to the over-working of the employed portion of the labor force. Then Marx asserts another key point, |
| “The condemnation of one part of the working class to enforced idleness by the over-work of the other part, and the converse, becomes the means of enriching the individual capitalists and accelerates at the same time the production of the industrial reserve army on a scale corresponding with the advance of social accumulation.” |
| This is a central point because it is the industrial reserve army which drags down the active labor army. This relative surplus population is the pivot point between the supply and demand of labor. Marx also asserts that the accumulation of capital through the consumption of labor power proceeds so intensely that the laborer is consummed before his life has attained its' mid-point. Naturally, the capitalist can buy more of this commodity from a reproduceable source. This reproduction is critical to the capitalist. He must pay what he perceives to be a “sustenance wage” in order to perpetuate the wage labor force. This must be the minimalist amount in order that the capitalist may still maximize profit yet, the laborer may reproduce. |
| Marx also maintains that the size of the family is inversely related to the height of wages. It appears that this may have changed since Marxs' time, and I would venture that size of families may be more cultural / religious in the present day. ( This is at least in regards to my knowledge of the Islamic, Catholic, and Mormon faiths.) Also, the trend of the more affluent towards smaller families is on-going. However, this is a slight digression. |
| The preceeding argument leads to the statement, that the accumulation of capital for the capitalist, is merely the accumulation of misery, and exploitation to the wage-laborer. It appears to be a vicious circle for the wage-laborer, and a miraclous circle for the capitalist. |
| Hans: This was a good essay, but out of fairness to the others I had to duck your grade because it came long after the deadline. |
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