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CORNELL
UNIVERSITY LIBRARY

THE STUDENTS' MARX

\
:

an

Sntroauction to tbe Stu&g of

KARL MARX' CAPITAL.

BY

EDWARD AVELING
D.Sc, London; Fellow of University
College,

London

LONDON:

SWAN SONNENSCHEIN
PATERNOSTER SQUARE

& CO.

iK,

if-'

\*/.--.^

Just Published.

Fourth Edition

[1891].

CAPITAL: CAPITALIST PRODUCTION. By Kael Marx. Translated from the Third German
Edition by Samuel Hoore and Edward AveUng, and Edited by Fredekick Enqels. 8vo, pp.
xxxii., 816.
10s. 6d.

SWAU SONNENSCHEIN

&

Co.,

LONDON.

INTRODUCTION.
The
present

writings of Karl

work is an attempt to do for part of the Marx that which, in the " Students'
to

Darwin," I tried
of

do for the whole of the writings

Charles Darwin.

tended for those

who have
"

The "Students' Marx" is inread, and for those who

first

have not read, the English translation of the

volume of

"

Das Kapital

that has been published

by

Messrs.

Sonnenschein.

To

both,

this

volume
facts,

may
of

be of use as a brief analysis of the main

reasonings,

and conclusions to be found in so

as
is

much

"Das Kapital"
Although there
is

at present rendered into

English.

a second volume of the

work

out in Germany, and although the third volume is nearly ready for publication in that country, and
although, as yet, neither of these has been translated into English,

the

first
is

volume, of which an
itself.

analysis

is

here attempted,

complete in
it

Perhaps, at some future time,

to

may

be possible

make

the

"

Students'
it

Marx

"

complete, not only

by incorporating with

an account of the two other

IN TROD UCTION.
parts of "

Das Kapital," but

this
it
is

also

by incorporating
is,

with

it

an account of the other writings of Marx.

meantime,
of

In
the

the

analysis

hope,

like

work

which

an epitome, complete in

itself.

Between Darwin and Marx there is resemblance in many ways. They were contemporary. Darwin was born in 1809 and died in 1882. Mars was born
in 1818

and died

in 1883.

The

physical presence of

each was commanding.

im[)ossible

It is difEcult

to find in the

perhaps

it is

pictures of the nineteenthof such singular

century

men and women two heads

as those of

Darwin and Marx. strength and beauty In moral character the two men were alike. The
most
bitter

of

their

enemies

and

they both had

many very bitter enemies have had to confess, if only by silence, to the truthfulness, rectitude, and
purity of
of
life characteristic

of both men.

The nature
in,

each was beautiful, kindling affection

to, all

and
were,

giving affection

that

was worthy.

They

of necessity, subject during

life

to the grossest

calumny

and misrepresentation, and they both lived down and

outlived
all this.

To the
moral

student, not unmindful of this physical

and

parallel, the

mental similarity between the two

men
of

is

perhaps of most moment.

That which Darwin

did for Biology,

Marx has done for Economics. Each them by long and patient observation, experiment,

INTRODUCTION.
reeordal, reflection, arrived at
tion,

an immense generalisa-

a generalisation the like of which their particular

;

branch of science had never seen a generalisation that

not only revolutionised that branch, but
revolutionising the whole of
is

actually

human

thought, the

whole of human

life.

Darwin

is

at present

And that much more

the generalisation of
universally accepted

than that of Marx

economic

is

probably due to the fact that

a word, be accepted

the former affects our intellectual rather than our

life

can,

in

in

measure alike by the believers in the

system and by
its

capitalistic
little

opponents.

There can be
its

doubt that the two names by which the nineteenth

century will be known, as far as
concerned, will

thinking

is

be

those of

Charles

Darwin and

Karl Marx.

One difference between the two may be noted. Marx was the more universal. Darwin was, con,

fessedly, a

man

given up to biological,

or,

at most,

to scientific

work, in the restricted sense of the term.

special

Marx
sense,

was, on the other hand, master, in the fullest

not only of

his

subject,

but of

all

branches of science, of seven or eight different languages, of the literature of Europe.

He knew and

loved
of
all.

all

forms of art

poetry and the drama most

Another

difference

between the two men

with

the advantage on the side of the economic philosopher

Introduction.

is

that he was not only a philosopher, but a

action.

Mars was an
lands,

active leader of

man men and

of

of

organisations.

Thousands of workers, of both sexes

and

all

philosophical

who may never read a line of his writincrs, know him and love him as

the practical revolutionist, who, more than any other, helped to make the great working-class revolt of the
nineteenth century, and as long as he lived took an
active

and informing part in

it.

And Marx had

and
a
singularly

that with which no one can con-

scientiously credit Darwin, a

brilliant

huge sense
style,

of

humour,
dealincf

even in

with abstruse problems.

Obviously, nothing of these

in this work.

two

qualities can be

shown

For them
himself.

the reader must turn to the writings of

I propose in this

Marx

volume

to

make

use of the plan of

for,

key-notes found so useful in the writing of books

and

in the teaching of, scientific students.

The words

and phrases at the

test of

side of the pages will be of use to

the reader as key-notes to the subject-matter. the masteiy of this by the student

A good
is

the

taking these side-notes in succession, or at random,

and observing

if

the facts and principles given in

connexion with them in the text can be substantially

reproduced from memory.

The mathematical form

in

of his generalisations will be retained.

which Marx puts many The reasons,

(1)

the necessity for doing this are obvious.

Marx

INTRODUCTION.
himself used this form.
(2) It
is,

even to the student

with

little

or no

knowledge of mathematics, a conbriefest

venient and easily understandable method of noting

certain facts

and generalisations in the

(3)

and

the plainest way.

stable condition

A
its

science bas only reached a

when

truths can be expressed in

mathematical terms.
its

Electricity has

now
its

its

ohms,

farads, its amperes;

;

chemistry has

periodic

law

the physiologists are reducing the bodily functo equations

;

tions

and the
his

fact

that

Marx
in

could

express

many

of

generalisations

Political

Economy

in mathematical terms is so

much

evidence

that he had cajried that science further than his

predecessors.

The law
where,
tative
is,

of Hegel, referred to on

p.

70 and

else-

that quantitative alteration involves quali-

change.

good

illustration

of

this

law

is

afforded

by the innumerable pounds (the alcohols, e.g'.), the members of which only
series of
differ

carbon com-

in

quantitative

composition

by

multiples of

C H2

(one atom of carbon and

two atoms of hydro-

gen), but

have very different properties.

CONTENTS.
PART I. COMMODITIES AND MONET.
OSIAP.

PAGE
1

J
(

,'

Commodities. The Three Values ... ... ... ... The Twofold Character of the Labour Embodied in Commodities ... ... ... ... The Form of Value or Exchange-Value ... The Fetishism of Commodities ... ... ... II. ExCHAJfGB ... ... ... ... III. Money, or the Oieculation oe Commodities. The Measure of Values ... ... ...
I.

4
6 14 20

The Medium

of Circulation
...

...
...

...

...

Money

...

,..

...

23 25 28

PART n.THE TRANSFORMATION OF MONEY

(M) INTO CAPITAL
(G).

IV. The Gbnerai FoEMTjLA EOE Capital ... .,. V. Contradictions in the General Formula for Capital ... ... ... ... VI. The Buying and Selling of Labour-Power ...

32

35 38

PART ni. THE PRODUCTION OF ABSOLUTE

SURPLUS-VALUE.
VII.

The Labour-Process and the Process op Producing Surplus- Value. The Labour-Process or the Production

of UseValues ... ... ... ... ... Production of Surplus-Value ... ... Vril. Constant Capital aj^d Variable Capital ... IX. The Rate op Surplus- Value. The Degree of Exploitation of Labour-Power ...

41 44 49
51

CONTENTS.

The Representation
of the

Value (V)

of the Oomponents (co, w, s) of the Product by Correspond... ... ...

ing Proportional Parts of the Product

52

The Last Hour

Surplus-Produce

...
...

...

... ...

...

53 53
54'

X. The Woeking-Day.

The Limits of the Working-Day The Greed for Surplus-Labour.

andBoyard... ... ... Branches of English Industry
Limits to Exploitation
...

...

Manufacturer
... ...

56
57

without
...

Legal
... ...

Day and Night Work. The Relay System The Struggle for a Normal Working-Day.

57

pulsory Laws for the Extension of ing-Day from the Middle of the Fourteenth ... to the End of the Seventeenth Century The Struggle for the Normal Working-Day. Compulsory Limitation by Law of the WorkThe Eaglish Factory A-cts, 1833 ing-Time.
to 1864
...
...

Comthe Work-

5S
i

...

...

...

591
i

The

Struggle
of

for

the
...

Normal Working-Day.
Factory
...
...
...

Reaction

the other Countries

English

Acts

on
|

... ...

64
66'

XI. Rate AND Mass OF Surplus-Vaiub

PART IV.PRODUCTION OF RELATIVE

SURPLUS-VALUE.
XII. TflE Concept of Relative Surplus- Value XIII. Co-operation XIV. Division or Labour and Manufactube. The Twofold Origin of Manufacture The Detail Labourer and his Implements
of Manufacture Heterogeneous and Serial Division of Labour in Manufacture and Division
of

68 70 73 73

The Two Fundamental Forms

Labour in Society Capitalistic Character of

74

The

Manufacture

77

XV. Machinery and Modern Industry.

The Development of Machinery The Value Transferred by Machinery
Product
...

70
to

the

80

CONTENTS.

The Proximate

Effects
...

of

Machinery on the
... ... ...

Workman

... ... ... ... The Factory ... The Strife between Workman and Macliine The Theory of Compensation as regards tlie ... Workpeople Displaced by Machinery Repulsion and Attraction of Workpeople by the

82 87 89
91

Factory System. Crises in the Cotton Trade... Revolution Eifeoted in Manufacture, Handicrafts, and Domestic Industry, by Modern Industry The Factory Acts. Sanitary and Education Their General ExtenClauses of the Same.
sion in

94 96

England

...

...

...
...

...
...

Modern Industry and

,

Agriculture

101 106

PART v.THE PRODUCTION OP ABSOLUTE AND OF RELATIVE SURPLUS-VALUE.

107
Ill

... XVI. Absolute and Relative Sueplus- Value ,XVII. Changes op Magnitude in the Price op ... Laboue-Po WEB, AND in SuKPLus- Value XVIII. VAEIOaS FoKMULiE POE THE RaTE OF SuEPLUSi

'{

Value

...

...

...

...

...

118

\
',

PART VI.WAGES.
XIX. The Teanspoemation op the Value, and theeepoee THE Peice OF Laboue-PoweEjInto Wages ... ... ... ... XX. Time-Wages ... ... ... ... XXI. Piece- Wages ... ... XXII. National DiFPEEENOE OP Wages
120 123 125 127

'

':

PART VILTHE ACCUMULATION OF CAPITAL.

Capitalist Production on aProgressively Increasing Scale. Transition of the Laws of Property that Characterise Production of Commodities into Laws of Capitalist Appropriation Erroneous Conception by Political Economy
. . .

... ... ... 129 XXIII. Simple Repeoduction XXIV. CoNVBESioN or Sueplus-Value (s) into Capital (C^.

132

of

Reproduction on a Progressively Increas... ...

ing Scale Separation of

...

...

133 134

into

and Revenue.
...

The
...

Abstinence Theory

.,.

CONTENTS.

Circumstances that, Independently of the Proportional Division of Surplus- Value

into Capital

and Revenue, Determine

the Amount of Accumulation. Degree of Exploitation of Labour-Power. Productivity of Labour. Growing Difference in Amount between Capital Employed and Capital Consumed. Magnitude of Capital Advanced ... ...

135

XXV.

The So-called Labour-Fund ... ... 138 The Gbneeal Law op Oapitaiist Acctjmulatigm:. The Increased Demand for Labour-Power that Accompanies Accumulation,the Com139 position of Capital Remaining the Same
Relative Diminution of the Variable Part of Capital Simultaneously with the Progress of Accumulation and of the Con... centration that Accompanies It Progressive Production of a Relative Surplus Population or Industrial Reserve Army ... ... ... Different Forms of the Relative Surplus Population. The General Law of
Capitalistic

141
'
!

144
,

Accumulation

...

...

145'
/

PART

VIII.THE SO-CALLED PRIMITIVE

ACCOMULATION.
j

... XXVI. The Seceet OF Primitive Accumulation XXVII. ExPEOPmATioisr or the Agriculturai, Popu-

157
159'
'

lation from the Lah"i>

...

...

...

XXVIII. Bloody Legislation against the Expbopeiated from the End of the Pifieenth Cbntuet. Foeclng Down of Wages by

XXIX.

XXX.
XXXI. XXXII.

... ... Acts of Parliament ... Genesis of the Capitalist Farmer ... Reaction of the Agricultural Revolution Creation op the Home ON Industry. Market for Industrial Capital Genesis of THE Industrial Capitalist ... Historical Tendency of Capitalistic Ac. .

16.>

105'

166 168 171 173

cumulation

...

...

...

...
. . .

XXXIII. The Modern Theory of Colonisation

THE STUDENTS' MARX.

BOOK
{Tlie
T.

CAPITALIST PRODUCTION
only subject
to he

considered in this work).

PART

I. COMMODITIES

AND MONEY.

CHAPTER t Commodities.
SECTION
Wealth.
1.

THE
is

THEEE VALUES.
economy
is
;

Wealth
The unit

an accumulation of commodities
is

or wares.

in political

therefore

the commodity.

Commodity.
object
;

(2) satisfies

commodity (1) human wants

it; (4) is

an external
has

(3)

human

labour embodied in
producer, but

not consumed by the

by some other person. Quality and Quantity. A commodity may be conoidered from the two points of view of quality and


TBE STUDENTS' MARX.
quantity.

This
is

antithesis

between

quality

and

quantity

very frequent in Mars, and runs through

the whole of his investigation.

Use-Yalvbe.

From

the point of view of quality

tlie

we
to',

are led to the consideration of

utility

or user

value of a commodity.

Use-value.3 are intrinsic

;

and cannot
realised

exist apart from, commodities

they form

the basis of commerce, the substance of wealth, ard

when commodities
depositaries of

are consumed, and are the

'

material

the third kind of value,

,'

exchange-value.
Value.

From the point of view of quantity we are

it

led to the consideration of the exchange-value of a

commodity, and we are led to

of the

by way
from

of the value
use- value.. of

commodity,

as

distinct

its

Leaving out of consideration the

modities, they have
all

utilities

comThe}"

are

all

the product of

particular

kind of

common property. human labour, not of anj'i human labour, but of human
one

labour in the abstract.

the

The value

of a

commodity

i.9

amount

of abstract

human
that

labour embodied in
is

it.

Its

Measure.

And

amount

measured by

the average social time required to produce the com-

modity under average conditions and with average ability on the part of the labourer. V and Q. The value of a commodity depends

upon,

or, in

mathematical language, varies with the

quantity of

human

labour embodied in

it.

If

its,

THE STUDENTS' MARX.

value
is

represented

labour embodied in
varies directly as

by V, aud the quantity of human it is represented by Q, then V Q. The greater Q is, the greater
is,

V
"

is

the less
" is

Q
oc,

the less

is.

(The

sign for

varies as

so that

we can
of

write in short the

statement

that

the value

a commodity varies
labour embodied

directly as the quantity of

human

in

it,

thus

and

V Q. P. V, as
oc

we have
i.e.

seen, represents the

value of a commodity,

the
it.

amount
less

of abstract

human
is

labour embodied in

Let P represent the

productiveness of labour.

The

is,

the greater

the labour-time necessary for the production of the

is

commodity, and therefore the greater

greater

V.

And

the

P
V.

is,

the less

is

the labour-time necessary for

the production of the commodity, and therefore the

less is

So that

V
\.

varies not directly as P, but

is

inversely as P.

This

expressed in mathematical

language thusV

oc
f},

Combining these two statements, that V I'.and V oc i, we have V oc |; i.e. the value of Q, commodity varies as the quantity of human labour

oc

embodied in

it,

and inversely

as the productiveness of

ihat labour, as determined by the state of scientific

knowledge, the social and physical conditions,

etc.

Exchange-Value.
exchange.
distinct

The ratio in which use- values The form of expression of the value, as

from use-value, of a commodity.

THE STUDENTS' MARX.

Illustrations.

diamond,

e.g.,

is

rare.

Its

dis-

upon an average, much labour-timeHence its value, and therefore its exchange-value, artS great. Air is an example of a use-value that has.| normally, no value, and therefore no exchange-valuej
covery
costs,

When, by human
bell, it

labour, it is

pumped

into a diving-

has

all

the three values.

An

article

produced

for the personal consumption of the producer is a use-

value but not a commodity.

SECTION

2. THE TWOFOLD CHARACTER OF THE LABOUR EMBODIED IN COMMODITIES.

Concrete

and

Abstract.

Marx

claims that he has

been the

first to

point out and examine critically the

twofold nature of the labour embodied in a commodity.

Once more, we have

tlie

to consider the qualitative

and

quantitative aspect

of labour this time, not of the

labour.

commodity produced by
working
tively in

Useful, concrete,

productive labour, as that of a tailor or a spinner

upon
the

matter,

e.g.

cotton,

counts

qualitae.g.

use-value of the product,

yarn.

Abstract

human

labour, the labour of the worker, not

as tailor or spinner, but as labourer, counts quantitatively in

the value of the commodity.

of

Use- values
labour.

are combinations

matter and

concrete

Values represent

human

labour in the abstract.

THE STUDENTS' MARX.

Work and Labour.
creates use-values

The concrete labour which and counts qualitatively is work

labour.

the abstract labour which creates value and counts

quantitatively
is

Skilled

labour
labour.

counts

only
forth,

as

a multiple

of

unskilled

Hencesimple,

therefore,
is

throughout the work every kind

regarded
as

of

labour

reduced
there
is

to

unskilled

labour.

As

yet,

no question
It
is,

of wages or the value that a labourer receives.

at present, only a question of the value the labourer

himself has put into the commodity produced.

;

Suvfvmary.

The

rest of this very important

and

difficult section is

devoted to the repeated presenta-

tion of the principles noted above,

many
hand

of Marx' sections

and ends, as so and chapters end, with an

"

invaluable summing-up
all

paragraph.

On
its

the

one

labour

is,

speaking physiologically, an exlabour-power, and in

character

penditure of

human

of identical abstract

human

labour,

it

creates

and

forms the value of commodities.

all

On

the other hand,

labour

is

the expenditure of

human labour-power
it

in a special form and with a definite aim, and in this,

its

character of concrete, useful labour,

produces

use- values.''

THE STUDENTS' MARX.

SECTION

3.

THE

FORM OF VALUE OE EXCHANGEVALUE.

Social Reality.
social,

reality

social reality

Value is not a material, but a and commodities only acquire this in so far as they are embodiments of a
;

social

substance,^human labour.
itself in

Value, therefore,

can oaly manifest

commodities.

the social relation betw^eii

A. Elementary

Form

of Value.
is

xA=yB. The

simplest value-relation

that of

one commodity to some other commodity.

xA = yB,,

Here x and y stand for any numbers, 1, 10, 25, 43, etc., and A and B for any two different commodities, as linen and coat, coat and linen, iron and wheat, etc.

The two poles of this elementary form. The value of the commodity A is expressed Poles. A functions as in terms of the other commodity B.
1.

the relative form of value,

of value.

as the equivalent form

These two forms are polar, and, like the

North and South poles of a magnet, are mutuallj7 dependent and inseparable, but are also mutually exclusive and face to face. Having marked off these two forms, the relative, and the equivalent, each of them is now to be con-\
sidered.

THE STUDENTS' MARX.

2.

Relative form.

(a)

Nature and import.

Qualitative Unit.

The

equation

xA = yB must
it,

be

considered at

first solely

from, the qualitative side,

not as vulgar economy always considers

v^hoUy

and

solely

from the quantitative

side.

quantitative

equation implies some qualitative unit.

abstract

That unit

is

The value of the commodity A, e.g. linen, is expressed by the actual material bodily form of the commodity B, e.g. a coat. The value of A is expressed by the use-value of B. Labour-Power and Labour. In this section we,
labour.

human

for the first time,

meet with the

distinction
is

between

labour-power and labour.

action.

Labour

labour-power in

There

may
there

be labour-power, and yet unless

is

it is in action

no labour, and therefore no

creation of value.
(b)

Quantitative determination of relative-value.

oc

J again.

The value form

not only expresses

value generally, but a definite quantity of value.

But the labour-time necessary

for the production of a

commodity, and therefore the amount of

abstract

human

labour embodied in the commodity, and there-

fore the value of the

commodity vary inversely as the

productiveness of labour.

V a

(see p. 3).

Marx
afi'ect

then takes four cases in

which such variations

of value of

the quantitative aspect of relative-value.

Gases.

i.

When the magnitude

A varies.

THE STUDENTS' MARX.

and that
value of
of

remains constant, tben the relativevalue expressed in terms of B) varies

(its

directly as the actual value of A.

II.

When
of

the magnitude of

tlie

value of

varies,

and that
value of
III.

remains constant, then the relativeinversely as the actual value of B.

A varies

When

the magnitudes of value of both

A and B
direc-

vary simultaneously, and in exactly the same

tion and to the

same extent, then

their relative-values

are unchanged, and their change of value can only be

determined by comparison with C, a commodity whose)

value has not altered.
IV.

When

the magnitudes of value of both

and
the,
:

vary simultaneously but not equally, then

from
I.,

results are easily deducible

II., III.

Conclusion.

Hence

follows the important conclu-;

sion that real changes in the magnitude of value of a

commodity are not necessarily represented

value.

in

the

equations expressing the magnitude of the relative-'

Of

this incongruity

between the magnitude^

of value audits relative expression,

much

use has been;

made by the vulgar

3.

economists.

The equivalent form.

Three Points.
pression,

In

considering

yB

of the simple ex(1)

xA=yB,

three

points strike us.

Use-

value (that of B) becomes the phenomenal form (the

form of manifestation) of
A).

its

opposite-value (that of

An

illustration

is

here used to

make

this point


THE STUDENTS' MARX.
more
clear.

lump

of sugar

is

balanced by a mass

of iron.

The

iron represents only weight,

nothing
xA=yB,
time

else for the

time being; and in the equation

represents only value,

nothing

else for the

being.

strained too
is

The analogy, we far. Weight is a natural quality

(2)
its

are warned, must not be

;

value

a social quality.

Concrete labour (embodied in

opposite
(3)

B) becomes the phenomenal form of

abstract

human

labour (embodied in A).

The
social

labour of an individual (that of the

man who made B)

opposite

becomes the phenomenal form of

la;bour (that of the
,

its

man who made

A).

Aristotle.

Aristotle

pression of
equality.
tliiat
i.e.

was the first to see in the exthe value of a commodity a relation of

His time was, of course, long antecedent to

time in which the expression

xA = yB

is possible; is

long antecedent to that time in which society

society.

commodity-producing
4.

The elementary form

of value considered as a

whole.

SuTrumary.

This
it

section

is

a summing-up of the

preceding sections.

commodity contains use-value

Its

and

value, even if

stands alone.

exchange- value

can only appear when it is brought into relation with some other commodity. Exchange-value is therefore
a consequence, not, as the vulgar economists hold, a
f'

iuse, of value.

A's

bodily form in the equation

:A = yB only figures as use-value; B's bodily form

THE STUDENTS' MARX.

in the equation

sA = yB

only figures as the form of

value

so

that the internal opposition within

use- value

any

and value is, in the equation = yB, represented by an external opposition that xA

commodity of
of

and

B.

And

in this, A,

whose value
;

is

to be ex-

pressed, only appears as use-value of

whilst B, in terms

which the value of

Transition.

is

to

be expressed, only apof the

pears as exchange-value.

This

simple

form

equation

xA = yB
may
stage

only places

in relation with B.

But

be varied

infinitely,

and that leads to the next

value.

the expanded form of

B.

Expanded Form of

Value.
1

xA = yB = zC = etc. lbs. of tea = etc.

1.

20 yards of linen = 1 coat = 10

;

The expanded relative form of value. xA=yB = zG = etc.T\ie. value of any one comj

modity
the

(A),

e.g.

linen, is

now

expressed in terms of
etc.

numberless other commodities, B, C,

first time,

Thus, lor
is

the value of any one commodity (A)

seen to be a congelation, not of of

any particular

kiind

human labour, but of undifferentiated human And the endless series of value-equatiojns labour.
show that
special
it is a matter of indifference under what form of use-value the value of the one con>-

modity appears.

For

this value

remains unaltered

i''

TBE STUDENTS' MARX.

magnitude, whether
other commodity.
it is

expressed in

or

or anyis

From

this it is evident that it

not the exchange of commodities that regulates the

magnitude of their value, but

they exchange.
2.

it is

the magnitude of

their value that regulates the proportions in

which

The

particular equivalent form.

B, G,

etc.

Considering B,

0, D, etc.,

we

see that the

manifold concrete useful kinds of labour embodied in

these are so
undifferentiated
3.

many different forms human labour.

of realisation of

Defects of this form.

Defects.

(a)

It is incomplete, because the series is

endless,

(h) It consists of

many
(cj

independent expresvalue, but

sions of the value of A.

Not only A's

the values of

all

other commodities have to be expressed

in this way, so that

we
if

shall

have an endless

series of

an endless

series.

Transition.

But

we

consider the converse rela-

tion and reverse the series,

we

arrive at

0.

The General Form of Value.

zC >each = xA.
etc.
1.
)

The

altered character of the

form of

value.

The Change.
T^alue (a) in

Now

all

commodities express their

it

an elementary form, for they express

THE STUDENTS' MARX.

in one commodity, A; (6) with unity, for they express
it

in one

commodity

only.

The use

of the elementary

form,

xA=yB, and

of the expanded form,

xA = yB =
commodity

zC = etc., was
Occurrence

to express the value of a

as something distinct

from

its

use-value.

of the

Three
occurs

Forms.

(1)

The

ele-

mentary form,
commodities.

xA = yB,
(2)

when

the products of

labour are accidentally and occasionally turned into

The expanded form, xA = yB=zC

particular product of labour,

= etc.,
e.g.

occurs

when a
form
else,

cattle, is

habitually exchanged for other comdistinguishes

modities.

This

more

clearly

value from use- value; but as the value of

A is

equated
of value

with everything

any general expression

(3)

common

to all is excluded.

The general form,

zO >each = xA,
etc.)

leads

us towards money.

The values

of

all

com-

modities are expressed in terms of one commodity,

and for the

values.

first

time commodities appear as exchange-

Universal Equivalent.
is

This

single

commodity,

the universal equivalent, and this general value

is

form
their

the reduction of

all

kinds of concrete labour to

of undifferentiated

common

character

human

labour.

THE STUDENTS' MARX.

2.

13

Interdependent development of the relative and

of the equivalent form.

Development of the Polar Antagonism.

the value-form develops.

The polar

antagonism between these two forms develops as

In

xA = yB,

the antagon-

ism

is

there,

but

is

fluid.

The equation may be

one
its

reversed to

jB = xA.
at

In

xA = yB = zC = etc., only
can completely expand

commodity

time

relative-value,

and the equation cannot be reversed

form.

without passing over into the general

In

yB|
zO
etc.

each

= xA,

there

is

given to

all

commodities a general social

relative

form of value, and the antagonism between the character of A, with its direct and universal
all

exchangeability, and the character of

other com-

modities, with their absence of universal exchangeability, is

3.

a polar antagonism.

Transition from the general form to the money,

form.

Money. The
commodity.

universal

equivalent might be any

particular

Whenever any
is

commodity

is

socially recognised as the universal equivalent, that

commodity

money.

This social monopoly has been

gold.

ul timately attained

by

14

THE STUDENTS' MARX.

D.

Money Form.

zC >each = x
etc.
J

gold,

Gold.

Gold

is

now money, because

It

it

was previously
of appearing

a simple commodity.

was capable

upon

either side of the elementary form of value, or

side of the

upon either

expanded form

of value, or

upon

either side of the general form of value.

it

But

now

can only appear upon the equivalent form

side in equation D.

Price Form.
of
is

The expression of
e.g.

the relative-value

any one commodity,

linen, in

terms of moyiey,

the price form of that commodity.

SECTION

4.

THE

'

FETISHISM OF COMMODITIES.
understanding a comuse-value, nor
i.e.

Difficulty.

The

difficulty in
its

modity does not turn upon

the factors that determine

upon

its value,

the physio-

logical or quantitative aspect of the labour necessarj'' to

the production of the commodity.

The

difiiculty lies

in the facts that (1) the social character of men's labour

appears to be an objective character actually stampod upon the commodities that are the products of tb^is

THE STUDENTS' MARX.

labour,

15

and (2) that the relation between the producers and the sum total of human labour appears not even
as a relation between men, but as a relation between
things,

Fetishism.
relation
it

the commodities produced. For an analogy

to religion.

to this definite social

between men and the fantastic form in which

appears to them as a relation between things,

we

must turn
"

Hence the use

of the phrase,

Fetishism of commodities."

The Character of Labour. The producers of commodities do not meet until they are going to exchange.
Therefore the social character of their labour does

not reveal

itself until then.

The

division of a

commodity into a use-value and

a value becomes of practical importance

when com-

modities are produced for the express purpose of

being exchanged.

From

that time, the labour of the

(1)

individual has a twofold character.

satisfy a social want.
(2) It

It

must

must rank

as

an equaltwofold

ity with the

labour of others.

And

this

character of labour appears in the commodity in the

facts that (1) the product
(2) all

must be

useful to others

commodities have the

common

quality of value.

Producers and Commodities. To their own social action appears as the

modities.
to

the

producers

action of com-

Commodities seem to rule producers, not

But, in the midst of all the

be ruled by them.

ch inging relations -of

exchange between commodities,

THE STUDENTS' MARX.

the labour-time socially necessary for their production
asserts itself as the thing that determines the value of

commodities.

Conditions of Society.

Four different conditions of

That of Robinson Crusoe;
;

society are then considered.

of the middle ages; of the patriarchal family

of a free

community having the common.

Crusoe.
activity of one

means

of

production

in

His labour, whatever form

it

takes, is the

and the same independent Robinson,

and is only a particular mode of human labour. Middle Ages. Here we meet with personal dependence,with services and payment in kind. The social relations

between labourers appear as personal

to-daj',

relations,

and not as they do

social relations

disguised under the form of

between commodities.

Patriarchal Family.

In the patriarchal family^ the

its

products of the labour of

members

are, as

faii
'

as

concerns the family as a whole, not commodities.

Free Community with Means of Production' in Common. The conditions are the same as those of

Robinson Crusoe.

All the characteristics of Crusoe's

labour are here repeated, only they are social and no longer individual characteristics.
is,

as

with Crusoe, concerted.

Crusoe, the

The plan of wdrk The products a;;e,

of

as

with

property
is,

the

producers.

The
into

total

product

as

with

Crusoe,

divided

two parts:

one to

be used as fresh

means

THE STUDENTS' MARX.

of social production, the other as
for individuals.

17

means

of subsistence

The Individual.

The

latter part is divided

among

the individuals according to the condition of historical

and productive development attained by the communIf, e.g., the individual share of the means of subity. sistence portion is determined by the labour-time the
individual has spent, this labour-time will play a twofold part.
social plan
(1)

Its

apportionment upon a

definite

keeps up the proper proportion between

a measure (a) of

the wants of the community and the different kinds

of

work

to be done.

(2) It serves as

the portion of the

individual;
(6) of

common

labour to be borne

by each

the share of each individual in the

part of the total product told off as means of subsistence.

Religion.

The

religious

world

is

always a reflex of

the social world.

Thus, nowadays, individual private

labour
labour
;

is

reduced to the standard of abstract

human
is

and under Christianity, abstract man

wor-

shipped.

In ancient Asiatic and other ancient modes

of production, the production of commodities plays a

subordinate part, the social relations between

man

and man are narrow, and we have

ship of Nature.

in religion the wor-

Religion will only finally vanish

life

whfen the practical relations of

and. reasonable relations

become intelUgible

between

man and man and

B

bet veen

man and

Nature.

THE STUDENTS' MARX.

Errors of the Economists.-^The. rest of this chapter devoted to the pointing out of some of the errors of
(1)

is

the ordinary economists.

Their analysis of value

and
(2)

of the

magnitude of value has been incomplete.

distinguish between labour as it
it

They do not

appears in the value, and labour as

use-value of a product.
of one
(3)

appears in the

They assume the value

in order to deter(4)

commodity (labour-power)
of
still less

mine the values

have not asked,
question
its

other commodities.

They

have they answered, the

why labour

is

represented
is

by

the value of

product, and

labour-time

magnitude of that value.

value.

(5)

by the They have not disrepresented,

cases, that

covered the form under which value becomes exchange(6)

They assume,
the

in

many

Nature

plays a part in

formation of
is

exchange-value,

whereas exchange- value

pression of the

only a definite social ex-

amount
it.

of labour that has been be-

stowed upon a commodity, and therefore Nature has

nothing to do with
(7) Gold,

when functioning

as

money, was, under the monetary system, regarded as a natural object with strange social properties, not as
the representative of a social relation between producers.
this

The economists of

to-day, looking

down upon
(8)

money

superstition with disdain, have themselves

capital.

a similar superstition in respect to

Some

even hold that the use-value of a commodity belon^gs to it, independently of its material properties, while

THE STUDENTS' MARX.

its

19

value

is

part and parcel of

it

as a material object.

This confusion has been led up to by the fact that

by conby a direct relation between man and the commodity while value is realised by exchange, i.e. by a social process, a relation between man and man, and between commodity and commodity. (9) Lastly, they have not understood the immense truth which Marx was the first to formulate, that the economic structure of society, i.e. the method of prouse-values are realised without exchange,
i.e.

sumption,

duction and distribution of the products of labour,

is,

and always has been, the

else rests,

basis

upon which everything

the

juridical, the political, the religious, the

social life of the people,

no matter in what age or in

what country.

CHAPTER

II.Exchange.

A
real

Social Transaction.

The juridical
is

relation be-

tween the two persons exchanging

economical
his

the reflex of the

man

between them. own commodity has no use-value;

relation

To each
it is

only a
the

depositary of exchange-value.

But

to each

man
is

commodity

of the other has use-value

and

not a

depositary of

exchange-value.

He
and But he

wants to part
in so far the
also desires to in so far

with his commodity in exchange for one whose usevalue

satisfies
is

some want of
a private one.

his,

transaction

realise the value of his

own commodity, and

is

the transaction of exchange

a social transaction.

Evolution of ExcJiange.^ The historical evolution of exchange works out more and more fully the contrast
commodities between use-value and At the same time with this working out, and with the more and more complete conversion of prointrinsic to all

value.

ducts into commodities, occurs the conversion of one

special

commodity into money.

Stages (for the Individuals).

The stages are

is

(1)

The
fore,

production of an object that

not required to

satisfy the

wants of the producer, and which, there(2)

has to him no use-value.

20

The

transfer of

THn STUDENTS' MARX.

this product

it

by him to another. (S) The recognition two men concerned in the exchange that the other is a private owner of his commodity.

by each

of the

Stages (in Communities).ties

In

the primitive socie-

that are based upon property in common, this

exchange must begin upon the boundaries of the

,

community.
cess
is

Thence

it

spreads inwards.
repeated.

The proproducts

repeated

and

Certain

begin to be produced with a special view to exchange.

Use-value begins to be distinguished from exchange-

The quantitative proportions in which comThe necessity of a A general social value form grows and grows.
value.

modities exchange become fixed.

equivalent

is

sought

for.

It is

now
is

one commodity,

now

another.
is

But

at last one

determined upon,

and that one

money.

Precious Metals.

As exchange expands, a universal

be found.

general equivalent must

The precious
fulfil
i.e.

metals are found to be the best commodity to

the only function of

money

as yet considered,

to

serve as the manifestation form of the value of commodities.

The precious metals have uniform

of

qualities,

and admit

much

subdivision.

Use- Values of Money.

The
;

money commodity has

special use- value as a

therefore two use- values

corriimodity
anr" its
(e.^.

its

gold may be used in

making

watches),

formal use-value as the universal equivalent.

Money Not a Symbol.

The

money form

is

only a

THE STUDENTS' MARX.

reflex in one

commodities,

commodity of the value The fact that money

cheques,
is itself

relations of all
can, in certain

other relations, yet to be considered, be replaced by

symbols of

itself (notes,

etc.),

leads to the
It
is

mistaken idea that money

a symbol.
is

commodity
is

like the rest,

and

its

value

determined

by the labour-time necessary

that costs the same

for its production,

and
this

expressed by the quantity of any other commodity

amount

of labour-time.
is

And

quantitative determination

made where the money

it is

commodity

is

produced,

when

bartered against

other commodities.

The True and

consequence of
value in gold.
all

the False.-

Gold has become money in

is

all

other commodities expressing their

false

The

appearance of things

that

other commodities

express their value in gold, be-

cause goldis money.

CHAPTER

III.

Monet, or the Circulation of

Commodities.

section

1.

the

measure of values.
function of

Function

1.

The

first

a universal measure of value.

commodities commensurable.

money is to be Money does not render

labour,

As materialised

they are commensurable, and therefore their value

can be thus measured.
Price.

The expression of the value of a commodity

is its price.

in terms of gold or

Price

is

the

money form

modity.
is

money name of the labour materialised in a comMoney therefore has no price. And price
2.

a purely ideal or mental, not a real or bodily, form.

Function

The

second function of

money

is

to

Here follows one of those comparisons that are so frequent with Marx, and
serve as a standard of price.

are of such incalculable value to the student.

case, the

In this

comparison

is

between money

fulfilling the fulfilling

call

function of a measure of value, and

money
Let us
price.
is

the function of a standard of price.

(1)

these

measure of value

(2) standard of

Comparison.
equivalent
;

(a)
(2),

As

(1),
is

money

the general

as

money

a fixed weight of metal.

23

24

THE STUDENTS' MARX.

(b)

As

(1), it

converts the values of

into

all

commodities

into

prices,

i.e.

imaginary quantities of gold

as

(2), it

measures these quantities of gold.

(1), it

(c)

As
it

measures the value of commodities

as (2),

measures quantities of gold in terms of a

unit quantity of gold, say 1.

Change in
functions.

the

Value of Gold.
no matter

change in the
first

value of gold does not affect either of these

two

As

to (1),

how

the value of gold

may

change, the ratio between the values of different

quantities of gold remains constant.

As

to (2), no

matter

how

the value of gold

may

change, the change

affects all

commodities simultaneously, and does not

therefore affect their relative value.

Discrepancy.

After

a time, a discrepancy arises

between the current money names of the vaiious

weights of the money metal, and the actual weights
that these
Causes.

names

originally represented.
is

This discrepancy

due

to (a) the

imporinto an
(6)

tation of foreign

money with

foreign
e.g.

The by the more valuable, e.g. gold. The pound was the money name of an actual pound weight of silver. It is now applied to a sovereign, (c) The debasing of the
imperfectly developed country,
ousting of the less valuable metal,
e.g.

names Rome.

silver,

currency.

Function
the end,
is

3.

The

standard of money, therefore, in

regulated by law.

legally fixed quan-


THE STUDENTS' MARX.
tity,
Q.g.

25

one ounce of gold,

penny,

is

legally divided

and

subdivided into aliquot parts, and these are legally

named

(shilling,

etc.).

pressed in the names of coins,

function of money.
account.

It

prices are now exwe have now a third now serves as money of

As

SE TION

2.

THE
(a)

MEDIUM OF CIRCULATION.
The metamorphoses
is

Function
modities.

4.

of

com-

C-M-C. In
morphosis.
(M),

exchange there
(C), is

a double meta-

commodity
is

turned into money

and

this

money

reconverted into another comis

modity

(C').

C-M-C
-

therefore the general for-

mula

for the

exchange of commodities. M, the

first

C - M.

phase of
sale.

this,

is,

upon the

But upon the part of is purchase. The owner of M the owner of M, it generally owns it as the result of an earlier transaction, in which some other commodity, (C"), was exchanged for this M, so that the first phase, (C - M), in
part of the owner of C,
.

the metamorphosis of a commodity,

is

also the second

phase in the metamorphosis of some other commodity C" has earlier undergone the transformation (C").

C"

M, and now undergoes the re-transformation,

second phase
is,

M-C.

M GK The

upon the part

of the

25

THE STUDENTS' MARX.

owner of C (the original commodity), purchase. But upon the part of the owner of C it is a sale, and a
sale that will later be succeeded

by another purchase

C". So that the second phase, M in the metamorphosis of a commodity, C, is also the first phase in the metamorphosis of C from the commodity form to the money form, the begin-

of another commodity, say

ning of a

new metamorphosis, C - M - C". Terms and People. For the complete metamor-

phosis of a

commodity there are necessary four terms and three people. The terms are (1) money (2) commodity (3) owner of money (4) owner of com;

modity.

The people
;

are (1) the buyer in the first

transaction
is

(2) the seller in the first transaction,

who

also the

buyer in the second, and who meets in the

second transaction (3) a

new commodity owner.

Circulation of Commodities.
cuit.

M C
-

is

cir-

But

this circuit is

interwoven with the circuit

C"

M- C

'

of another commodity.

And

this

latter

circuit is again

interwoven with that of yet another

.

commodity,

C" -M-C

The sum

total of all the

is

different circuits of all commodities

the circula-

tion of commodities.

Difference between this

and

Direct Barter.

This
barter,

circulation of commodities difl^ers

from direct
tlie

with which

it

is

often

confused by

ordinary

political economist, in that (1) the

owners of C and
;

do not mutually exchange their commodities

(2)

THE STUDENTS' MARX.

the process does nob end

27

when

the use-values have

process bursts

changed places and hands;

through
all restrictions

(3) the

of time, place,

and persons,

imposed by direct
(b)

barter.

The currency

of money.

Currency of Money. By the phrase, " the currency of money," is meant the course it takes in going from hand to hand.
of the commodity is But the movement of money is a monotony. It goes farther and farther away from its starting-point. Its course is a monotony from buyer to seller. In the sphere of circulation the commodity appears and disappears. Money is

Monotony.

The movement
M
-

in a circuit,

C-

always within that sphere.

Q = s-

'^^^ quantity (Q) of

money

functioning as

the circulating

medium within
is

the sphere of circula-

tion during a given time

of all

the

sum

(S) of the prices

the commodities concerned, divided

of changes of place

number (N)
coins
of

made

in the

by the time by

the

same denomination,

e.g.

sovereigns.

(Q=l)-

quantity of money functioning as medium within the sphere of circulation during a given time is the sum (S) of the prices of, all the commodities concerned, divided by the

Q=|.

Or, the

the circulating

average velocity of the course of money.

)(c)

(Q=

|).

Coin and symbols of value.

m
;

28

THE STUDENTS' MARX.

Coin.

That money takes

Coins

the shape of coin springs

from

its

fourth function as the

means
tear.

of circulation.

Symbols.

wear and

Thus, from the

outset their nominal and their real weight begin to

dissever
;

the distinction between

them

as bits of

metal and

as coins with a function appears.

And
by

this implies the possibility of their replacement

other symbols.
coin,

Satellites,

e.g.

in the shape of copper

take their place where coins pass quickly from

to hand.

hand

Paper money,
itself,

e.g.

such as bank notes,

without value
This paper
as a

can yet serve only symbolically.

the

outcome of the function of money

means

of circulation

must not be confused with

to be
is

cheques (credit money), the outcome of the function of

money

as a

means of payment, a function yet

Paper money
its

considered.

therefore a token repre-

senting gold in

function as a means of circulation.

It expresses symbolically the

value of commodities, as

the equivalent quantity of gold expresses ideally the

value of commodities.

Law.

The

of paper

law of paper money is that the money must not exceed the amount of
if

issue

gold

that would circulate

there were no paper money.

3.

SECTION

MONEY.
money
of account

Summary.
ent, (2)
e.g.

We have seen that the general equivalfunctions as (1) a measure of value

;

gold,

a standard of price

(3)

THE STUDENTS' MARX.

all

29

these cases

it is

the ideal

money commodity

and
it is

(4) a circulating medium, in which function

capable of representation
coins or

by symbols, such

as copper

bank
in

notes.

Function

5.

The

general equivalent functions as

money,
in

the restricted sense,

when

it

has to be

actually present in a transaction, and when, either

its

own
it is

actual person or

by

representative,

e.g.

cheques,

the sole form of value, the sole form of

to use-

existence of exchange-value in opposition

value, represented
rw.

by

all

other commodities.

When the general equivalent (M) thus functions

the restricted sense,
it

as

money in sented by m.

may

be repre-

(a) Hoarding.

to 'm.

When a

sale is

not at once followed by a

condition of coin
(p.

purchase,

passes from

its

28)

into that of money, m.

Hoarding of m.

In
As

the earlier stages of the cir-

culation of commodities, a desire, a passion aiises to

retain the result of the first metamorphosis,
-

M.

Hence hoarding.
:'-jhe

in these earlier stages, only sur-

plus use-values are turned into m, the hoards become

social

expression of superfluity of riches.

As

)roduction and circulation of commodities develop,

he producer must have in hand more and more m.

The
I

sesthetic

form

of this

hoarding of

M is the posses-

,on of gold and silver

articles.

30

THE STUDENTS'
(h)

MIARX.

Means

of payment.

Function

6.

When, as the circulation

of commodi'-

ties develops,

time elapses between parting with the

realising of its price,

commodity and the

becomes
function.

when C-M

M,

It is

and

seller are

the general equivalent has a new now the means of payment, m'. Buyei: now debtor and creditor. M now nclt

only functions as a measure of value, but also as an

means of purchase. It is only promised by the and yet it effects a change of place of the commodity. It only becomes m', the actual means of
ideal

debtor,

payment, at the end of a certain time, entering into

circulation after

has left the sphere of circulation.

From
cheques,
(c)

this function of

M as m',

of the general equi-

valent as a means of payment, spring credit-money,

bills, etc.

Universal money.

Bullion.

When

money

leaves the

home sphere
its

of

circulation it is extradited, it loses all local forms of

standard of prices, coin, etc., and

form,

is

simply in

general

bullion..

It is again

and

finally the social incar-

nation of

human

labour in the abstract.

In the home

sphere of

circulation, only one

money;
Three

in

commodity becomesj the world-market, two (gold and silver)

become money.
Functions.

Universal

money has
means
of

three

functions.

(1) It is the universal

payment
;

(m'), as in the settling of international balances

(2)

THE STUDENTS' MARX.

it is

-31

the universal means of buying,

when

the custom-

ary equilibrium in the international exchange of products

is

disturbed

(3) it is the universal

embodiment

of social wealth, as in the case of subsidies,

etc.

war

loans,

Movement of Gold and gold and silver is double.

Silver.
(1)

The
;

movement

of

From

the source where

(2)

they are found to the world-market

to another.

from country

to country, from one national sphere of circulation

PART

II. THE TRANSFORMATION OF MONEY {M) INTO CAPITAL {C).

CHAPTER IV.The General Formula

Capital.

for

Preliminary
ties,

Stages.

The production
up
to

of commodi-

their circulation, its developed form, commerce,

the world-embracing form of commerce dating from the sixteenth century, lead
system.

the capitalistic

M-G-M'. Money
The formula C - M commodities. But
M', the
-

(m), the final product of the

is

circulation of commodities,

the

first

form

of Capital.

is

that of the circulation of

this

formula also implies

capitalistic

M -C

formula
describing

for this

circulation.
is,

All

money
capital.

latter

circle

potentially,

Comparison.

very

important

comparison
;

is
-

then instituted between these two formulse

C-M

C
the

(circulation of commodities)
circulation).

and

M C
-

M' (capius call

talistic

In comparing them
(1);

let

former

C-M-C

and the

latter

M-C-

M' (21
32

THE STUDENTS' MARX.

Reseinblances.

33

The

two formulEe,

(1)

and

(2),

are

alike in three points.

(a)

In each, there are two phases, a sale and a

purchase.
(b)
(c)

In each, commodities and money are concerned,

In each, three people are concerned.

Differences.

The two formulae,

(1)

and

(2), differ

in

twelve points.
(a) (1) begins
sale
;

with a purchase and ends with a

the intermediary

(2) begins with a sale and ends with a purchase.

(b)

In

(I),

M is

in (2),

is

the

intermediary.
(c) (2),

In

(1),

the two end terms are commodities

in

the two end terms are money.

(d)
(e)

In In
;

(1),

money

is

spent

in (2),

(1),

the same piece of

money is advanced. money changes place

passes from one
re-

twice
(/)

in

(2),

the same commodity changes place twice.

In

(1),

the same piece of

;

money

hand
(gr)

to another

in (2), the

same piece of money

to the

turns to the same hand.

In

(1), if

a reflux of

money

same startingstarts again

;

point does occur, the

in (2), the series

series,
is

C-

C,

M-C-M'

incomplete until such

reflux of
(h)

money to the starting-point does occur. The aim of (1) is use-value the aim of (2)
;

is

exchange-value.
(i)

In

(1),

the two end terms have diflerent quali-

ties; in (2),

the two end terms have different quantities,

a

34

THE STUDENTS' MARX.

'

=M + A

M,

i.e.

'

is

equal to the original

sum

advanced, M,
surplus-valufi.
(k)

+ an

increase,

A M.

This

is

In

(1),
;

the values of
(2),

C and

are normally

.equivalent

in

the values o

and M' are nor-

mally not equivalent.

(V)

In

(1),

the process ends in the consumption of

is

C; in

(2),

the process

endless.

M' becomes

new M.
(m) The circulation of commodities
is

a means to

an end, that end being the consumption of use- values.

The
itself.

circulation of

money

as capital

is

an end in

Aim

of Capitalist.

The
i.e.

aim of the
general

capitalist is

not a use-value, but

General Formula.

A M,

surplus-value.

This

formula

M-C-

M' covers not only merchants'

capital also.

capital,

but industrial

In interest-bearing capital the formula

shortened into

C - M'

is

M'.

CHAPTER

V.

Contradictions in the General

Capital.

Formula of

Source of A M. This chapter is devoted to the demonstration of the fact that surplus-value cannot
be created by the simple circulation of commodities.

What

is

the source of surplus- value

Not in formulae 1 - 4. In all the transactions presented by the formulae (1) xA = yB (p. 6); (2)

re-

xA

= yB = zC = etc.

(p.

10);

yB)
(3)

vC >each = zA(p.

11);

xD)
(4)

C-

'

(p.

25)

there

is

an exchange of equivalpolitical
-

ents.

There
that

is

no alteration of value, no creation

of surplus-value.

The ordinary
source
its

economist
is

thinks

the

of

surplus

value

in

M C
-

and in

developed form

commerce.

He

falls into this error

because he confuses use-value and

exchange-value.

Arguments Against.

Like

Darwin, Marx always

exhausts the arguments against his

own

position.

That Non-Equivalents

are Exchanged.

Assume
or

(1) that non-equivalents are exchanged in the for-

mula C - M - C.

But the
3S

seller

who has gained

36

THE STUDENTS' MARX.

say 10 per
(C),
cent.,

lost,

upon the actual value

of bis com-

modity

now becomes

straightway loses or gains that 10 per cent.

final result is as if all

and The had exchanged equivalents and

in his turn a buyer,
the

there

is

no creation of surplus- value.

That

is

Paid by
is

Consumers.
either

Assume
same

(2)

that surplus-value
modities.

paid by the consumers of comis

But the consumer

is

or represents a
as the

producer, and the case

therefore the

one just considered.

A
sell
;

ConsuTTiing Non-Producing Class.

Assume
But

(S)

the existence of a class that only buys and does not

only consumes and does not produce.

sellis

ing commodities above their value to such a class

only taking back a part of the

money

previously

given to that

class.

That
buyer.

gets

the

Better of B.
of

Assume
of

(4)

that

the seller gets the better

the bargain with the

But

the

total

amount

value

is

just

the same

as before, although its distribution

may

be

changed.
Conclusion.

The

conclusion

is

therefore tliat cir-

culation or exchange of commodities does not beget

surplus-value.

Something therefore must take place

is

in the background that

lation itself.

not apparent in the circu-

Problem.

The problem

still is

how to account for

the origin of capital upon the supposition that the

THE STUDENTS' MARX.

starting-point of
is tlie

37

conversion of

money

into capital

the exchange of equivalents, and that prices are

regulated

by the average

price

{i.e.

ultimately by the

value) of commodities.

CHAPTER VI The
Not in M.
(A M),
it is

BaTiNG and Selling of

Labour-Power.

Still

seeking the origin of surplus-value

not in the

money

itself.

For money in

its

functions of means of purchase and means of

payment

only realises

prices.

And

in its function as
i.e.

money
it is

in the restricted sense (m, p. 29),

as cash,

value petrified and invariable.

Nor in G - M\
the phase

Nor

can the change take place in

C M'
-

of the circle

M', for in this

the commodity simply passes from

its

bodily to

its

money form. Must he in C and in

circle

its

Use- Value.

The
M
-

change
of the

must therefore take place

not take place in M.

in the phase

M-C-M' and in C, since, as we have

seen, it can-

But the change cannot be in the

value of C, since equivalents are exchanged.

therefore

We

are

forced to

tlie

conclusion that the change

ending in the formation of

place in the use-value of C,

M (surplus-value)

takes

i.e.

in the consumption of

the commodity.

The Special Gominodity.

A commodity has there-

38


THE STUDENTS' MARX.
fore to be found,
39

whose use- value has the property of

labour-power.
is

being a source of value, whose consumption creates

value.

The commodity

is

Labour-Power.

Labour-power
when
is

the

the mental and physical faculties of a

that can be exercised

sum total of human being

the

human

being produces

use-value.

Labour-power must not be confused

it

with labour, as

often

by

the political economists.

Labour
only

is

the realisation of labour-power, and results

when

the commodity, labour-power,

is

consumed.

The Free Labourer.

personally free to

The free

labourer must be (1)

sell his

labour-power for a definite

time only, and not forever and a day; (2) free from any other commodity, i.e. without any of the means
of subsistence or the

means of production.
sell

He must

therefore be obliged to

his

only commodity

labour-power.
Essentials to Capitalistic Production.

Capitalistic

production has no law-of-nature basis.

in historical
evolution.
Its

It is a stage

essentials

are (1) that

use-value and exchange -value are distinct; (2) that the stages of (a) barter and (b) the circulation of

commodities are past

possessor of the

(3)

that the capitalist, the

meets in

means of subsistence and production, the market the free labourer only possessing

his labour-power.

Value of Labour-Power.
power, as the valae of
all

The

value
is

of

labour-

commodities,

determined

40

THE STUDENTS' MARX.

the labour-time necessary for
i.e.

by

its

production and

re- production,

by

the labour-time necessary for

the production of the means of subsistence of the

labourer.

Means of Subsistence.
ture, for himself

These

means

of subsistence

for the labourer are food, fuel, clothes, housing, furni-

and

his

children (the commodity,

labour-power, must be continuous upon the market),

education.

Labour-Power Advanced
at once

to

the

Capitalist.

The

use-value of the commodity, labour-power, does not,

upon the conclusion of the

contract, pass into

the hands of the buyer.

Hence C

(see p. 30).

The money of the

capitalist that is to

be paid for
p.

the wage-labour becomes means of payment (m',

30)
is

And
To

the use-value of the commodity, labour-power,

capitalist.

advanced to the

the Factory.

Leaving

circulation of commodities,
factory,

now the we are to

sphere of the
pass into the

and study the production of the commodities This part, this chapter, and this section themselves.
end with a singularly powerful passage.
close chain of reasoninaj is followed

The long, by an outburst of

great strength.
writer.

The philosopher becomes the great


PART
III. THE PRODUCTION OF ABSOLUTE SURPLUS-VALUE.
VII.

CHAPTER
section
1.

The Labour-Process and the

Process of Producing Surplus- Value.

the

labour-process or the production of use- values.

Labour.

Labour-power in use

is

labour.

The

capi-

talist sets tlie

labourer to produce a particular use-value.

Factors of a Labour-Process.
(2) the object

The three factors of

-i.e.

a labour-process are(l) man's activity,

work

itself;

upon which
it

it

ments with which

Object.

works.

works (3) the instruThese three factors let

;

us henceforth denote respectively by

1, 2, 3.

2 may be immediately provided by Nature,

Let us

call these natural objects upon which Or 2 may be raw material, i.e. natural objects that have been worked upon by human labour. Let us call raw material, 26. Extractive Industry. When the object upon which 1 is working is only 2a and not 26, the industry is Mining is an example. called extractive.

as

soil.

1 works, 2a.

Raw

Material.

26
gas
(c)
;

may

be either the substance of

cotton
is

the ultimate product, as

yarn, or auxiliary.
(a) consumed,
stance,
e.g.

when

turned into

These auxiliary raw materials are

(6)

e.g.
;

united with the chief sube.g.

dyes

help to carry on the work,

the acid in candle-making.

41

42

THE STUDENTS' MARX.

Instruments.

are the things that

man

inter-

poses between himself and 2 as conductors of energy

from him to
are examples.

2.

The earth

itself,

furnishing a locus
streets, tools,

standi to the labourer, buildings, canals,

A
(let

Product.
us call

use-value,

and therefore a product

it 4),

are formed
3.

when

works upon and

im-

modifies 2 by aid of
Its Fate.

The

fates of a product (4) are

;

(a.)

mediate consumption by individuals

(6)

ultimate con-

sumption by individuals
yarn
(d) to

(c)

to

become the
e.g.

raw

material {2b) for one particular product,

;

cotton for

become the raw material for more than

e.g.

one product,
(e) to

corn for millers, cattle-breeders,

(3); (/) to

etc.

become an instrument of labour

3, e.g.

become

which also produce manure. Means of Production. The objects of labour (2) and the instruments of labour (3) are means of proThe man's activity does not come under duction, mp. the head of means of production, Co7isumption. Labour is an act of consumption of the commodity labour-power the realising of its
both 26 and
fat cattle,

use-value.

Individual consumption occurs

when

the

products are used for the subsistence of the individual.

Productive consumption occurs

to

when

the product

is

be worked upon with a view

to producing yet an-

other product, not the bodily frame of the consumer.

Tahle.

tabular arraugement of the factors of

THE STUDENTS' MARX.

43

53

m s

i-H

CS

fe

>

M P

Sa

O-O

44

THE STUDENTS' MARX.

its

the labour-process, and of the fates of

products,

may

be of service to the student here.

to the Capitalistic-Process.

Transition
things occur

When

the

labour-process becomes the

:

capitalistic-process,

two

(a) the labourer

;

works under the control

of the capitalist

(h)

the product (4) becomes the pro-

perty of the capitalist.

SECTION

2.

PRODUCTION OF SURPLtJS-VAlUE.
The product that becomes
is

Ohject of the Capitalist.

the property of the capitalist

values are only desired

a use-value.

But usethey
has in

by the
of

capitalist because

are exchange-value

carriers.

The

capitalist

view the production

exchange-value
{i.e.

use-value that has

an

the production of a commodity),

is

and the production of a commodity whose value

greater than the

sum

of the values of the labour(1, 2,

power, the object, the instruments

production.

3) used in its

Work and Labour. A commodity is a use-value and a value. The process of producing a commodity
is

a labour-process creating use-value, and also a

process of creating value.

The former
labour.
is

process

is

work
cess

the latter process

is

This latter pro-

now the only one under consideration. The labour now under consideration is therefore only abstract human labour, differing in no way qualitatively, but only quantitatively.

the creation of value

TEE STUDENTS' MARX.

45

An

Important Passage.

Hereupon

follows,

perIt is

haps, the most important passage in " Capital."

one of the passages most frequently read and quoted.

But, of course, for
its full

comprehension, In analysing
it,

all

that has

gone before
ing
it,

is

necpssary.

as in read-

we must remember

that the figures chosen are

arbitrary, but that this fact in

no wise
41)
is

affects

the

argument based upon them.

Theoretical Case.

Cotton
lbs.

(26, p.

to be turned

into yarn (the product).

Let the value of one hour's

of cotton,
lbs.

labour be 6d.

Let 10

worth say

10s.,

be turned in six hours into 10

Is. 6d.

of yarn, worth

lb.

Let the wear and tear of the spindles and

(3, p.

other instruments

41)

amount

to 2s.

So

that,

without reckoning the labour,

value of 10s. -f- 2s.

we have

in the

yarn a
3,

= 12s., transferred from

The
total value
lbs.

26 and
4,

to

4.

Six hours of labour spent in turning 26 into

at 6d. in
lb.

an hour,

cost 8s.

now embodied
Is. 6d.

4=12s. + 3s. = 15s.

are worth 15s.
value.

i\nd 10
is

of
:

yarn at
there
is

There

no gain

no surplusargu-

Outcry

of

the

Capitalist.

The

usual

ments of the
answered.

capitalist

against this

unsatisfactory

condition of things are then given

by Marx and

The
do
this,

capitalist

will

manufacture commodities.

buy on the market and not But if all the capitalists

?

where

is

the market

46

THE STUDENTS' MARX.

The capitalist must be paid for his abstinence. But he has the yarn. The capitalist supplied the labourer with 2 and 3. But the labourer has supplied 1, and the value of 2 and 3 are transferred to and embodied in 4, which is

now

the property of the capitalist.

capitalist has
his.

The

given his time.

But the labourer

has given

The Time, Values of Labour-Power.

occurs in the factory, however,
is this. is

What

really

In the labourembodied, and

power
there

of the labourer, past labour

is

also

a living labour, resulting from the con-

sumption of that labour-power.

of maintaining labour-power
;

There
is

is

a daily cost

there

a daily expendicost determines

;

ture of labour-power.

The former

the exchange- value of the labour-power

cost determines its use-value.

the latter

Therefore the value of

it

the labour-power

is

one thing and the value

is

creates

in the labour-process
realises

another thing.
his

the exchange-value of

parts with its use-value to

of the

The labourer commodity and the capitalist. The essence

that labour-power
is

whole transaction

is

the

source, not only of value, but of

more value than the

labour-power has

itself.

Meal

Case.

Therefore

the capitalist has ready for

the labourer in the factory the means of production

necessary, not for
say, twelve.

working

six hours, but for working,

lbs.

Instead of 10

of cotton there are 20

THE STUDENTS' MARX.

lbs.

47

Now,

let

US balance up accounts.

The 20

lbs. of

cotton represent 20s. of crystallised

human

labour.

The wear and

tear of the spindles

and other instru4s. of crystallised

ments, for twelve hours, represent

human

labour.
6s.,

The labour-power
and there
4s.
is

is

paid, as before, 3s.

If it is paid

the former condition of the theoretical

case again obtains,

value.

no creation of surplus-

Expenditure, 20s. +

+ 3s. = 27s.

But the

capitalist has
Is.

now 20

lbs. of

yarn at

Is. Gd.

Eeceipts,

6d.

x 20 = 30s.

He

has a surplus- value of 30s.-27s.

1, 2,

= 3s., or ^

of the

value (27s.) of the factors

3 necessary to the pro-

duction of the yarn.

Degree, Not Kind.
is

The production of surplus-value

at

therefore only due to an extension of the produc-

tion of value

beyond the point

which the value of

the expended labour-power (1) has been replaced. Commercial production becomes capitalistic production,

when

production

is

not merely a labour-process and

a value-creating
creating process.
SJcilled

process,

but also a surplus-value

Labour.

Whether the

labour

is

skilled or

unskilled does not affect the question.

results,

Surplus-value

not from a qualitative difference in the labourpower (this only affects the use-value of the product), but from a quantitative difference. That portion of

48

THE STUDENTS' MARX.

by which a
skilled

his labour

workman
does not

replaces the
differ,

value of his
titatively,

own labour-power

quan-

from that portion by which he creates sur-

plus-value.

CHAPTER

VIII. Constant Capital

and Variable

Capital.

rtip.

as

The we have

three factors of the labour-process are,

seen: (1) laboar
is
;

(2)
;

the object upon

objects,

which the labour

2Z)

expended

2a natural

raw material

(3)

instruments.

And

and 3

are, collectively, the

means of production.
p.

Let us de-

note them (as above,

41)

by mp.
of Value.

Transference

and Creation

Tlie value of
is

mp

is

preserved in the labour-process, and

trans-

Thus the labourer (a) transHe fers the value of Tnp and (b) adds new value. the former (a) by virtue of his particular kind does
ferred to the product.
of labour (spinning, weaving, etc.)
(5)
;

he does the latter

by

virtue of his labour being also labour in the

abstract and functioning for a certain time.

By

the

quality of his labour he transfers the value of mp.

'By the quantity of his labour he adds

new

value.

mp of mp

Not

the Source of Surplus-Yalu,e.

is

The

value

transferred to the product

never greater than

the value they themselves lose in the transference.

The means

of

production
49

are

not the

source of D

so

THE STUDENTS' MARX.

The whole
of their value ultimately

surplus-value.

reappears in the product.

Constant

Capital.

In

the product

we have

the

value of the labour-power consumed, and

plus-value (A

also the sur-

M)
is

that the labour-power has createdthe difference between the value of

Surplus-value

means

of production

and labour-power taken together,

and the value

of the product.
capital

As A
which

M
is

does not arise

from mp, that part of

represented
it

by

mp

is

constant capital.

Let us denote

by

cc.

Variable Capital.
sented

And

the part of capital repre-

by labour-power (from which surplus-value can arise) is variable capital. Let us denote this by
vc.

"
tal,

Constant

" is

Not

the

Same

as Fixed.

Fixed

capicc,

in the ordinary sense, is only

a part of
is

as

Marx
less

uses the phrase.

Fixed capital

the more or

durable form,

ings, etc.,

represented by machinery, buildraw as opposed

to cii'culating capital,
e.g.

material.

both fixed

The constant capital (cc) and circulating capital.

of

Marx

includes

CHAPTER IX. The

SECTION
1.

Rate of Surplus- Value.

THE DEGREE OF EXPLOITATION OF LABOURPOWER.

total capital

C = cc + vc. The
eo

of the constant capital

advanced is made up and the variahle capital. C =

+ vc.

Marx

writes

G = c + v.

I have ventured
in

to

alter the

form of the formula

my

notes for two

reasons.

Students often use v for value (they would

do
tlie
s.

better, I think, to use

additional c

V) and cc and more than c and v alone.

;

vc tell

by

The
s.

total

value of the product = cc +

i;c

+ AM

(surplus-value).

Let us henceforth denote surpluslet

value by
product.

And

V
is

denote the total value of the

the

Then, as

we have seea,Y = cc + vc + s;
vc

value actually created

+ s. The value
is cc.

of the

means

of production, transferred only,

-.
vc

The

relative increase in the value of vc is the

It is expressed, as
all

rate of surplus-value.

ratios

are expressed,
plus-value)

by dividing the one quantity

(the sur-

by the other (the variable

capital).

Thereis .

fore the expression for the rate of surplus-value

'^

Again, the labourer during the

of
51

first

part of the

day produces only the value

his

labour-power,

52

THE STUDENTS' MARX.

This portion

the value of his means of subsistence.

of the working-day
is

necessary labour-time, necessary

for the production of his

means

of subsistence.

After

the

expiration
is

of

the

necessary

labour-time, the

labourer

creating surplus-value.
is

This portion of
If

the working-day

surplus-labour-time.

we

re-

present necessary labour-time labour-time by

s.l.t.,

by

n.l.t.,

and surplus-

we have now two

'-

the rate of surplus-value,

or

j,

expressions for

Ordinary Method of Calculation.

is

therefore
of labour-

an expression for the degree of exploitation

power by
political

capital.
is

The ordinary
based upon
to

economist

calculation of the
i.e.,

the ratio of the

surplus- value

created

the whole of the capital

calculation
is

advanced.
-^

The proper
rate.

based upon

a much larger
2.

SECTION

OF THE COMTHE VALUE (V) OF THE PRODUCT BT CORRESPONDING PROPORTIONAL PARTS OF THE PRODUCT.

THE

EEPRESENTATION
VC,
S)

PONENTS

{CC,

OF

Concrete Example.'

A
20

concrete example

is

taken.

Let us suppose that

(total

value of product)

30s.,

made up
lbs.

of cc (24s.), vc
is
;

(3s.), s (3s).

Suppose

fp. 45)

that the product

lbs.

of yarn.
;

Of

these 20
s.

f ^ represent cc

3% represent vc

-^ represent
;

Therefore, of the 20

lbs.,

I or 16

lbs.

represent cc

-^^

or

7 HE
2
lbs.

STUDENTS' MARX.
;

S3

represent vc

or

lbs.

represent

s.

The

total product consists of (1) a part representing the

labour contained in cc

(2) a part representing the

;

labour contained in vc or necessary labour

(3)

part representing the labour contained in s or surplusvalue.

SECTION

8.

The "Last Hour."

fallacy
profit is

Is

devoted to

showing the
all

of Nassau

Senior's

contention that

the

made

in the last

hour of the working-day.

SUEPLUS-PEODUCE. Surplus-Produce. Surplus-produce the

SECTION
4.

is

portion

of the product that represents surplus-value.

In the
is

concrete example given above, the surplus-produce

2 lbs. of yarn.
Its

Ratio.

Here

also

the relative quantity

of

surplus-produce must be calculated, not as the political

economists calculate

it,

in relation to the

whole of the
In

product, but in relation to that part of the whole pro-

duct in which

is

incorporated necessary labour.

the concrete example given above, the ratio of the

surplus-product, as well as that of the surplus- value,
is

not /^ or

^ or

10 per

cent.,

but | or

1 or

100 per

cent.

CHAPTER X. The
SECTION
1.

AVorking-Day.

THE
a

LIMITS OF THE WORKING-DAY.

c.

c.

a
In

c.

In the key-note, we have represented three working-days of different lengths.

all of

ah (necessary lahour-time)
length,

is,

of course, of the

them the part same

say G hours.

The part

he (surplus-labour-

time) varies, representing in the three cases, respectively,

j-j.

say

1, 3,

5 hours.

The rate of surplus-value, or ^^ here becomes

The part ah
is

^j.

determinate.

The part

he is not.
is

Limits.
ah.

The minimum limit of the working-day

is,

The maximum

of course, not

twenty -four hours

for

the individual labourer, as

the labourer must

satisfy his desire for rest

and other physical needs.

Lahourer to Capitalist Under this section occurs the famous appeal from the labourer to the capitalist
for a

normal working-day,
I

passage of wonderful

dramatic strength.
"

The commodity that

have sold

to

you
its

differs

from

the crowd of other commodities in that

value,

use creates

and a value greater than its own. That is why you bought it. That which on your side appears a
54

THE STUDENTS' MARX.

spontaneous expansion of capital,
expenditure of labour-power.
is

55

on mine extra
I

You and

know on

the market only one Jaw, that of the exchange of

commodities.

And

the consumption of the commodity

belongs not to the seller

who
To

parts with

it,

but to the

buyer who requires

use of

it.

you, therefore, belongs the

But by means of the price that you pay for it each day, I must be able to reproduce it daily, and to sell it again. Apart from natural exhaustion through age, &e., I must be able on the morrow to work with the same normal amount of force, health and freshness as to-day. You preach to
daily labour-power.

my

me

constantly the gospel of

!

'

saving,'

and abstinence.
'

Good

I will, like

a sensible, saving owner, husband

all

my

whole wealth, labour-power, and abstain from

waste of
it.

foolish

I will each

day spend,
of
it

set in
is

motion, put into action, only as

patible with its

much

as

com-

normal duration and healthy developextension of the working-

ment.

day, you

By an unlimited may in one day

use up a quantity of labour-

power greater than

I can restore in three.

What you
use of

gain in labour I lose in substance.

The

my

labour-power and the spoliation of

things.

it

are quite difl'erent

If the average time that (doing a reasonable

amount

work) an average labourer can live is 30 years, the value of my labour-power, which you pay
of

me from day
value.

to day, is ^^5 x

g^-

or xrirnr of

its total

But

if

you consume

it

in 10 years,

you pay

56

THE STUDENTS' MARX.

daily -^^-^ instead of
its

me

-^^

of its total value,

i.e.,

only \ of

daily value, and you rob me, therefore,

me

every day of f of the value of my commodity. You pay for one day's labour -power, whilst you use that of

against our contract and the law of demand, therefore, a working-day of normal length, and I demand it without any appeal to

3 days.

That

is

exchanges.

your
place.

heart, for in

money matters sentiment is out of You may be a model citizen, perhaps a member
odour of sanctity to boot
;

of the Society for the Prevention of Cruelty to Animals,

and

in the

but the thing

heart
is

that you represent face to face with

iu its breast.

me has no

That which seems

I

to throb there

my

own

heart-beating.
I,

day, because

like every other seller,

demand the normal workingdemand the

value of

my
2.

commodity."

SECTION

THE GREED FOB SURPLUS-LABOUR.

FACTURER AND BOYARD.

MANU-

Gorvee.
capital.

Surplus-labour

has not been invented by

In Athens, Etruria, Rome, America, Wal-

lachia, it has existed.

Marx

takes the case of the

corvee of the Danubian principalities as an example.

By law, 14
panded

days a year of actual labour are to be given

In practice, these 14 are exis

to the boyard-master. to 42.

Moreover, there

jobagie, or 14 days

of extraordinary service to the boyard.

42 -f 14 = 56.

And

as there are only

some 140 working-days in the

THE STUDENTS' MARX.

57

Wallachian year, the ratio of the corvee, or of the

given labour (56 days) to the necessary labour (140
56

= 84

days), is | = |

=66| per

cent.

SECTION

3. BRANCHES OF ENGLISH INDUSTRY WITHOUT LEGAL LIMITS TO EXPLOITATION.

Condition of Workers.

Here

are given a series of

terrible quotations as to the conditions of the

workers
Obvi-

in branches of production not at the time of writing

under

legal restriction as to hours of

is

work.

ously, it

not necessary to give these in a note-book

like this.

But

certainly they should be read

by every
pp. 227-

one who wishes

to strengthen his scientific socialism

by emotional

socialism.

They occur upon

241 of the English translation.

SECTION

4.

DAY

AND

NIGHT-WORK.

THE

RELAY

SYSTEM.

Night Labour.
another
series,

The Relay System.

terrible, of

Here are given

as

not less

quotations from the

reports of the Children's

to the

Employment Commission,

employment

of

women and
by which

children at night,

and

as to the devices

the capitalist tries to

appropriate the whole of the twenty-foiu- hours of the

working-day.

The

chief of these devices

is

the relay

sj'stem or the alternation of shifts of workers, so that

the works are kept going day and night. That which was written as to Section 3 applies to Section 4 (pp.
241-248).

S8

THE STUDENTS' MARX.

FOE A NOEMAL WOEKINGCOMPULSOEY LAWS FOE THE EXTENSION OF THE WOEKING-DAY FEOM THE MIDDLE OF THE FOUETEENTH TO THE END OF THE SEVENTEENTH CENTURY.
5.

SECTION

THE STEUGGLE

DAY.

Deterioration.
p.

The limits of
expenditure
of

the working-day

{ac,

54) are not determined

of

the labourer's labour-power, but

daily

by the normal maintenance by the greatest

that

possible

labour-power.

Hence

deterioration,

premature exhaustion, and even

death of the labour-power.

the industrial

And

this deterioration of
is

town population

only retarded by

the constant absorption of the country people into the

towns.

The establishment of day in England shows two opposed tendencies, (a) That of the English Labour Statutes from about 1350, to lengthen the workingday (h) that of the Factory Acts from 1833 onTendencies.
-

Two Opposed

the normal working

wards, to shorten the working-day.

(a) English Labour Statutes. 13^9. {\) Statute of Labourers, Edward

TIL, 1349.
all

This

fixed

the

limit

of

the working-day for

artificers

and

field labourers,

from March
with
c>\

to

Sep-

tember, as from 5 A.M. to 7

P.M.,

hours for

meals

in

all, 10|-

hours; from October to February,

for meals.

from 5 A.M until dark, with 3| hours

THE STUDENTS' MARX.

U96.{'2,) statute of Labourers,

59

Henry VIIL,

1496.

Repeats that of 1349.

1562. (Z) Statute

of Elizabeth, 1562.

This leaves

the limits of the working- day untouched, but shortens

down

the 3| meal-hours to 2^ in the summer, and 2 in

the winter.

SECTION

6. THE STRUGGLE FOR THE NORMAL WORKING-DAY. COMPULSORY LIMITATION BY LAW OP THE WORKING-TIME, f 6) THE ENGLISH FACTORY ACTS, 1833 to 1864.

Beginning of the Struggle. The introduction of machinery into England led to the breaking down of all bounds of morals, nature, age, sex, day, night. The struggle for the legalised normal working-day
set in.

1802-1833.Beiwean
five labour

the
;

years 1802 and

but, as

1833,

laws were passed

no money was

voted by Parliament for the carrying of them out,

they were dead

letters.

Up

to the year 1833, chilis al-

dren and young persons (by the latter phrase

ways meant those from 13 to 18 years of age) were worked ad libitum. 1833. The Factory Act of 1833 dealt with cotton,
wool, flax, silk factories.
It fixed the

working-day

P.M=15 hours. But no young person to work individually more than 12 hours, or at night, and every young person to have 1| hours
from 5.30
A.M. to 8.30

6o

THE STUDENTS' MARX.

Children from 9 to 13 only to
night.

for meals.

work 8

hours,

and not at employed at all.

Relays.

Children under 9 not to be

the shortening of the hours
limit the

In order that

of

young persons and children might not

working-daj'' of the men, the masters introduced the

system of relays or double

sets of children,
P.M.,

one set
set

working from 5.30 A.M. to 1.30 from 1.30 P.M. to 8.30 p.m.

and the other

The Gilding of the Pill. To gild the pill for the masters, the Act of 1833 was not to come into force
until
1,

March

1,

1834

Also from that date to March

1835, the limit age of the children

who were only

;

to
1,

work 8 hours was 1835, to March 1,

;

to be 11 years

from March
to be

1836, the limit

was

12

years

and the

limit,

13 years, was only to come

into force after this last date.

Agitation of the Masters.

As
a

this date,

March

1,

1836, approached, the masters agitated so violently

that the Government, in 1835, actually proposed to

make

the

limit

age

for

child,

not

13 but 12.

Popular opinion was, however, too strong, and the

1833 Act held for ten years.

183o-18Ii4.

During these years the masters, workCorn-Laws, needed the help of the

ing against the

working-class, and therefore

ag-itation for the

went with them

Bill.

in their

Ten Hours

This led to the Act

of 1844.

THE STUDENTS' MARX.

1844footing

6[

By
as

this,

women were

placed upon

tlie

same

and no night-work. For the jfirst time, the labour of adults was " interfered with " by Act of Parliament. The working-time of children was reduced from 8
a
to

young persons

12

hours

day

7 or to

6|-

hours.

A
men

consequence of this was

could not

the indirect limitation of the working-day of men, as

in most factories the

work without

the co-operation of the women, young persons, and

children.

Upon

the other hand, the lower limit of

age for children was reduced from 9 to 8 years.

i.S.^r.During

the time from

allies

1844 to 1847, the

;

working-class found

in the Tories

hence the

Act

of

June

8,

1847.

This shortened the working-

young persons and women. From July 1, 1847, the day was to be 11 hours as against 12 before, and from May 1, 1848, it was to be 10 hours.

day

for

Master-Bodges.

In

answer to
of the

this,

the masters,

1,

tried to binder the

Act from coming into force in

1848.

The condition

men was very

bad, in

consequence of the

The masters therefore first reduced wages 10 per cent. Next, when the 11 hours came into force, they reduced them 8j per cent. Next, when the 10 hours came into force, they reduced them 16 per cent. 2. They got up false petitions. 3. They made use of Press and Parliament in the pretended name of the working-class.
crisis

of 1846-7.

62

THE STUDENTS' MARX.

4.

They allowed the men to work from 12 to 15 and said the men did this from choice. Thanks to Leonard Horner and the other factory inspectors who exposed all these dodges, the Act came
hours,
into force.

came 1848, with the failure of the movement in England, and the insurrections abroad. The capitalists took advantage of the terror
184.8.

Then

Chartist

of the ruling class,

and

tried to

undo

all

that had been

done between 1833 and 1847.

Master-Tactics. 1. They discharged many of the young persons and women, and restored night-work
for the men.
2.

They attacked

the meal-hours.

Why

should not
?

the labourer feed at

3.

home and not

in working-hours

Whilst keeping to the

far as
it

strict letter of the

law of

1844 as
sons and

concerned children, they fixed the

time of the children's 6 J hours after the young per-

women had
for

finished.

Thus they
-

exploited

more than 10 hours. and women they simply 4. With young persons the law literally. broke This had 5. They introduced the shifting system. two forms. () They got the labourer into the factory for a time, sent him out again, called him in,
the

men

and

so

on during the 15 hours of the faciory-day,

all this time,

never losing hold of him

total time of labour

although his
(6)

might be only 10 hours.

They

THE STUDENTS' MARX.

shifted the individual
to another,

63

worker from one kind of labour from one factory to another, with, as con-

sequence, insuperable difficulties to the factory inspectors.

Afpeal to Law. These last appealed to the law. But the magistrates on the bench were the very people prosecuted. And upon February 8, 1850, the
Court of Exchequer declared that the Act of 1844 contained words that rendered
Results.
it

meaningless.

The

results

were practical abolition of the

the masters going in for the

Ten Hours Day, and

relay system.

all

Upon

the other hand, there were meet-

ings of the working-class, warnings from the factory

inspectors, grumblings on the part of the masters in

country

districts who could not find enough people work the relay system. Final result the Act

to of

18.50.

1850.

This Act was a compromise.

Its provisions

for children

were the same as those of the Act of

1844.

hours a day,
the

For young persons and women, 10 to 10| with 7^ only on Saturday. The working-time to be between 6 A.M. and 6 P.M. in

summer between
;

1| hours for
as the callings
killed.

meals.

and 7 P.M. in the winter Thus the relay system, so far named on p. 59 were concerned, was
7 A.M.

1853.

As

the Act of 1850 did not alter the con-

dition of children under the Act of 1844, the capital-

64

THE STUDENTS' MARX.

device noted under
3,

istic

par. 6, p.

62,

was

still

possible. But the Act of 1854 stopped this. It forbade the employment of children in the morning

before,

and in the evening and women were at work.

Other Industries.

after,

the young persons

All

these Acts, thus far, only

affect the four industries, cotton, wool, flax, silk,

men;

tioned on

p. 59.

But

in 1845, the print-workers

in

1860, the dyers and bleachers; in

1861, lace

and

stocking-makers; in 1863, the makers of earthenware,

lucifer
etc.,

matches, percussion caps, cartridges, carpets,

open-air bleachers, and bakers came under the

Factory Acts.

SECTION

7.

THE

STRUGGLE
REACTION

WORKING-DAY.

FOR OF

THE NORMAL THE ENGLISH

FACTORY ACTS ON OTHER COUNTRIES.

The
Succession of Industries.
the industries

The

passion

of

capital for the extension of the working-day

gratified

is first

in

first

revolutionised

by
flrst

water-power, by steam, and by machinery

wool, flax,
restrained
silk.

cotton,
is

In

all

these,

that passion

by

legislation.

Later,

and

by

degrees,

other branches of industry come under capitalistic

exploitation,

and

therefore
A.cts.

later,

and by degrees,
first

come

ixnder the Factory

The Succession of Countries.

The process

be-

THE STUDENTS' MARX.

gins in England, the

65

home of modern

industry.

France

follows slowly, although the twelve hours law that

followed in that country upon the Revolution of

1848 recognised the principle of the limitation of

all labour,

even adult, not, as in England, only

legis-

lating for children,

young

persons,

and women.

The

French law, however, allows of the relay system, and

therefore of night-work.
first

In the United States the

fruit

of the

Civil

War was

the eight

hours

agitation.

CHAPTER XI. Rate and

Value.

Mass of Surplus-

Mass of s.
ist

The rate of surplus- value =

4.

The mass
capital-

or quantity of surplus-value extracted

by the

far,

from the labourer is now to be considered. Thus and now, the value of labour-power and the
are supposed constant.
(i).

n.l.t.

VG=Fn
capitalist

The

total variable capital (vc) of the

may

be represented as VC.

Let the value

of one

labour-power be P, and let the number of

labourers employed

by the

capitalist

be n.

Then,

YG = Vn(i).
S=VCx^,
(ii).

Let

mass of surplus-value extracted.

I need hardly point out that

S represent the sum total or Then, S = VC X -' (ii).

VC

and vc are numbers,

of the letters of

and that there can be no cancelling

the one against the letters of the other.

8 = Pnx:^
equation
(ii),

(iv).-Again,

i.e.

In (p. 52) 4 = ^' (iii). S = VC X 4, substitute the value of

VC

in equation

(i),

and

of i in equation

(iii),

and we

have S = PX^', or the mass of the surplus-value

extracted
is

equal to the value of the labour-power of

66

one labourer multiplied by the number of labourers,

THE STUDENTS' MAKX.

multiplied again

67

by the

rate of

surplus-value, ex-

pressed in the form surplus-labour-time divided

neeessaiy-labour-time.

by

Equations (ii) and (iv). Looking at equation (ii), S = VC X ^ it will be seen, therefore, that diminution in the amount of variable capital (VC) may be compensated by a rise in the rate of surplus-value, or by
arise in the degree of exploitation of labour-power
(^).

And, looking at equation

(iv),

S = P7ix-^',

it

will le
(to)

seen that a decrease in the

number
of

of labourers

may

be compensated by a lengthening of the surplus-

labour-time,

by a lengthening

the working-day.
a" limit.

This last lengthening has, of course,

VC,

not

cc.

From
{cc)

this it follows that

S depends
of

upon the mass of labour that is therefore upon Tn, therefore upon VC.
entirely

set in motion,

The mass
S
varies,

constant capital

that

may

be employed does not

not

count in the creation of surplus-value.

as the total capital C, but as

VC, the amount of

the variable constituent {vc) of the total capital C.

The Position.
with

The capitalist (1) becomes master of

it

the labour-power; (2) sees that

sufficient intensity
;

works properly, and

(3)

compels the labourer to

work

surplus-labour-time, and to produce surplus- value.

From

the point of view of the creation of surplus-

value, the labourer does not

production.
labourer.

The means

of production

employ the means of employ the

PART

lY. PRODUCTION

OF RELATIVE

SURPLUS-VALUE.

CHAPTER XII. The

Concept of Relative

Surplus-Value.
Increased Productiveness.

a
to get
is
:

c.

The

pro-

blem

for

the capitalist

is

more

surplus-la-

bour-time, and therefore more surplus-value, without

lengthening

ac.

The

solution

shorten ab, and thus

in-

lengthen

be.

And

this is

brought about by an
i.e.

crease in the productiveness of labour,

in the labour-process,

by a change

time necessary to
lessened.

which the labourthe production of a commodity is

by

virtue of

Absolute

and

Relative
ac,
is

s.

Surplus-value
absolute
is

due to

the lengthening of

surplus- value_

Surplus-value due to the shorteoing of ab, as the

result of increased productiveness of labour,
relative

surplus-value.

"Means" must
tiveness of labour,

be

Affected.

Increased
must

producaffect the

if it is

to affect ab,

means
(p. 41).

of subsistence of the labourer or the

means

of

production

numbers 2 and S in the labour-process

68

THE STUDENTS' MARX.

The Enigma.
concern
is

69

Why does the

?

capitalist,

whose

sole

the production^ not o use-values but of

exchange-values, always try to lower the exchangevalue of commodLties

Its Solution.

Relative

surplus-value varies as the

productiveness of labour; the value of commodities

varies inversely as the productiveness of labour.

In-

crease, therefore, in the productiveness of labour aug-

ments the surplus-value in a commodity, and at the

same time cheapens the commodity.

is

So the

capitalist

anxious to heighten the productiveness of labour,

in.

because whilst this certainly cheapens commodities

general,
it

also

cheapens

the especial commodity,

labour-power, and so increases the relative amount of

surplus-value contained in
all

commodities.
all

SumTTiary

The

object, therefore, of

develop-

ment
talist,

in the productiveness of labour for the capiis

to

shorten ah, lengthen

ho,

and get more

relative surplus-value.

CHAPTER XIIL Co-operation.

Meaning of Word.

Co-operation here

is

not to be

confused with the modern co-operative systems.

Co-

operation here simply means the working together of

many

labourers under the capitalist.

Quantitative
gether of

and

Qualitative.

The"
this

working

to-

many
The

labourers at the same time, in the

same

place, is

the starting-point of capitalistic prodifference

duction.

between
is,

and the handi-

craft trade of the guilds

at

first,

only quantitative.

But, following the law of Hegel, the diiference soon

becomes qualitative.
JSconomy.

With the
is

simultaneous employment of

many
means

labourers, there

economy

in the use of the

of production (1) through the general cheap-

ening of commodities and the consequent diminution

in the value of labour-power
;

(2)
it

through the
be noted,
is

alter-

ation of the ratio

(g).

This, let
(j'),

not the

rate of surplus-value

but the ratio of the surplus-

value to the total capital advanced.

Collective Labour-poiver.

Most

important in co-

operation

is

that with
collective

power,

the

it comes the creation of a new power of the many. One man

in one day,

e.g.,

can

make one
7

pair of trousers.

Three

THE STUDENTS' MARX. men

The
in one

7i

day can make twelve pairs of

trousers.

capitalist

pays for the three independent labourfor the collective or

powers.

But he never pays

com-

bined labour-power of the three.

To

this point of the

non-recompense to the labourers of their collective

labour-power, and the appropriation of
italist for
it

by the capis

nothing, the

attention of the student

specially directed.

Gains.

The

gains from co-operation are (1)

this

enormously important new power,

the
;

collective or

combined labour-power of the

with his fellows
same,
is it

many

(2) the stimula-

tion of the animal spirits of the labourer working

;

(3)

when

the kind of
all sides at

work
;

is

the

can be attacked on

once

(4) if it

not the same, there can be apportionment of the

;

various operations to different individuals

(.5)

critical
;

periods, such as harvest-time, can be tided over

(6)

extension of space, as in road-making.

Combined Working-Day.
isolated working-days,

The

combined working-

day, therefore, produces, relatively to an equal

sum

of

more
in

use-values.

Stages of Go-operation. are (a) that

The

stages of co-operation

met with

hunting races or the agri-

culture of Indian communities,

of production are held in
is

where
;

(1) the

means

part and parcel of his

common (2) each individual own tribe, (b) The sporadic

co-operation of ancient times, the middle ages, and

modern

colonies,

dependent upon relations of dominioi)

72

THZ STUDENTS' MARX.

slavery,
(c) Capitalistic

and

co-operation dependent

upon

free labour.
Hunting Races,
Agricultural Indian

Means

of

Production

commonj

tribal X
j

Communities.
Ancient.
Co-o''p^emtion{^^^^'^^
-j

Medieval.
Colonies

Free Labour

Capitalistic

CHAPTER XIV. Division

section
Bate.
1.

of Labour and Manu-

facture.

the

twofold origin of manufacture.

The

manufacturing period, as distinct from

it,

that of the grand industry which follows

dates from

the middle of the sixteenth to the

last third of the

eighteenth century.
Synthesis

and Analysis.
1.

Manufacture
many

arises

in

two ways.

Synthetic.

The assemblage

in one

workshop, under the

capitalist, of

labourers be-

longing to different handicrafts, through whose hands

an

article

must pass on

its

way

to completion

e.g.

coach.
2.

Analytic.

Division of labour
;

among men

all

do-

ing the same work originally

Still,

e.g.

pin-making.

thus

far,

the handicraft

is

the basis of this form

is

of co-operation.

The productive mechanism

men>

not, as yet, machinery.

SECTION

2.

THE

DETAIL LABOURER AND HIS IMPLEMENTS.

Gains.

The

gains are (1) those arising from the

(p.

general nature of co-operation

73

71)

(2) of time, as

74

THE STUDENTS' MARX.

the one

man
;

is

doing one thing and not passing from

to

one

occupation

another

(3)

improvement of
on,

methods
Loss.

(4) tricks of the trade

its

handed

and even
as a

heredity playing

part

(5) specialisation of tools.

Upon
3.

the other hand,

we must reckon

negative quantity the lessened interest of the labourer

always working
SECTION

at the

one kind of work.

THE TWO FUNDAMENTAL FORMS OF MANU HETEROGENEOUS AND SERIAL.

FACTURE
The

Two Forms.

1.

Heterogeneous.

gether of partial products

watch.
2.
e.g.

The iitting tomade independently e.g. a

;

Serial.

Passing through a series of processes

a pin.

Here, with

cesses- successive in

time

many labourers, the detail promay become simultaneous in

Go-operation.

space.

Manufacture
1.

and

Manufacture

therefore goes farther than simple co-operation.

It not only finds the conditions for co-operation

ready to hand, but creates them by the sab-division of

handicraft labour.
2.

Each labourer gives on

Each labourer takes

his

product as

raw

material to the next labourer.

3.

for his labour the socially

necessary time, and continuity obtains.

4.

Fixed mathematical relations

arise,

determining the

relative

number

of labourers for each detail operation.

THE STUDENTS' MARX.

The Collective Labourer.
facture develops
into

75

As

manufacture arises

in part from the grouping of handicrafts, so

manu-

groupings

of

manufactures.

The machinery
tinct

of the manufacturing period, as disto

from that of the period of grand industry yet

is

be considered,

the collective labourer.

Manufacture develops a sucand lower labour-powers, with a succession of higher and lower wages. As there are
Unskilled Labour.
of higher
cession certain simple operations that

any one can

do,

manu-

facture begets

the

unskilled labourer

needing no

apprenticeship

value of

With the fall in the labour -power caused by this disappearance of

or teaching.
is

apprenticeship, there

a direct increase of surplus-

value for the benefit of the capitalist.

SECTION

4.

DIVISION

OF LA.BOUB IN MANUFACTURE,
IN SOCIETY.

AND DIVISION OF LABOUR

Three
general
(b)
;

Forms of Division
;

of

Labour.

(a)

In

agriculture, industries, etc.

In particular

the divisions of agriculture, of

industries, etc.
(c)

In

detail,

within the workshop.

Between Division of Labour in Manufacture and in Society. Let us call division

Resemblances

of labour in manufacture (1)

society
(2).

division of labour in

75

THE STUDENTS' MARX.

(a)

In both (1) and

the
is

(2) there are

two

origins

the

synthetic and

analytic.

In the synthetic, the

cause

exchange between spheres of production

originally distinct

and independent.

In the analytic,

the cause

is

a physiological division of labour due to

difference of sex
(b)

and age within the

tribe.

For

(1),

a certain

number

of

simultaneously
;

employed
certain
cessary.
(c)

labourers

are

necessary

for

(2),

number and density

(1),

of population

are ne-

For
this

production

and

circulation

of

com-

modities are necessary.

And

demands a

certain degree of development

of (2), to

which the

colonial

system and the opening of

the

world-markets lend themselves.

Differences.

(a) In
;

(1),

detail

labourer pro-

duces no commodity
are commodities.
(b)

in (2), the products ultimately

In

(1),

there

is

a sale of the labour-powers of

;

the labourers to one capitalist

in (2), there are pur-

chase and sale of the products of different branches of

industry.
(c)

In

CI),

there

is

concentration of the means of

;

production in the hands of one capitalist

is

in

(2),

there

dispersion of the

means of

jDroduction

among many

independent producers of commodities.

(d) In (1), the

jects definite

law of proportionality (p. 74) subnumbers of labourers to definite func-

THE STUDENTS' MARX.

tions
;

77

in

(2),

chance and caprice play parts in

dis-

tributing the labourers.

(e)

In

(1),
;

there

is

the undisputed authority of the

capitalist

in (2), there are independent

commodityin its

producers and competition.

(/")

(1) is praised

conscious form,
(gr)

by the bourgeois; (2) is, condemned by the bourgeois.

is

In

(1),

there

despotism

in

(2),

there

is

anarchy.
(A) (1) is a special creation of the capitalistic

method

of production

(2)

is

common to many and

to different

forms of production.
SECTION
5.

THE

CAPITALISTIC CHARACTER OF

MANUFACTURE.
Increase of MiniTnutn
crease in the
C.

With the necessary

in-

number
vc,

of labourers (n) under division

of labour in manufacture, comes a necessary inci'efiseiu-^^

in the

and also indirectly of cc. So that the minimum amount of C that must be in the hands of the individual capitalist increases. The separation between the The Separation.

amount '[of

labourer and the means of production begins

co-operation, develops in manufacture,
in
is

in simple

completed

modern

or grand industry yet to be considered.

The Individual
capital,

Labourer.

Under

manufacture,

in order that the collective labourer, and through

him

may

be rich in social productive power, the

78

THE STUDENTS' MARX.

must be poor
in individual pro-

individual labourer

ductive power.

Science under manufacture, and later

capitalist alone.

under modern industry, serves the

The labourer undergoes deterioration and degradation, and a special pathology of labour is begotten. Summary. Manufacture, therefore, i.e. co-operation based upon division of labour, is only a particular form of getting surplus-value, and under it the national

vi^ealth,

the domination of the capitalist, the proall increase.

ductiveness of labour,

In the manufacturing period the number of unskilled labourers is small,

and there

is

much

insubor-

dination of the labourer.

When

manufacture produces machines, we pass to

modern industry.

CHAPTER XV. Machinery and Modern

Industry.
section
1.

the

development of machinery.

Machinery shortens ah (in the Effect of Machinery. working- day), lengthens he, produces more relative surplus-value.

Under manufacture, already

considered,

the revolution in the method of production began with

labour-power.

In modern or grand industry,

now

to

be considered, the revolution in the method of production begins with the instruments of labour.

Machine.

What
?

is

the difference between a tool

and a machine
Answers.

1.

tool
tool.

is

simple

machine

machine
2.

is

a complex

With

a tool, the motive-power

is

is

man

with a

machine, the motive-power

something other than

man.

The best. A machine is a" tool (c), plus a motor mechanism (a) and a transmitting mechanism (h). From a through h energy is transmitted to c. And it is in c, the tool, that the change from manufacture
3.

to machinery begins.

Motor.

Under

the grand industry the

79

labourer

8o

THE STUDENTS' MARX.

is

by a machine, when a single a sets in motion many c. The increase in the number of c means more massive h and stronger a. Man, therefore, is replaced by horse or by wind or by water or finally by steam as the motor.
using only one tool
replaced
Factory.

factory
is

is

workshop

in

which

machinery only

used.

Most Complete Form.

machines
to

The
is

most complete form of

production by machinery
(c),

an organised system of from a central aufirst

which motion is communicated through

(h)

the transmitting mechanism

tomaton

(a).

Machinery by Machinery.
are manufactured

At made by hand.
(a),

the tools (a)

later

But

they are
of the

made by machinery.

With the introduction

steam-engine as prime mover

and the discovery

of the slide rest, the conditions for the

making

of

machinery by machinery obtained.

SECTION
2.

THE

VALUE TRANSFERRED BY MACHINERY TO THE PRODUCT.

Gratuities to the Capitalist. The capitalist pays

physical forces

nothing for (1) collective labour-power (p. 70); (2) the capitalistic (3) scientific laws
;

appropriation of these three

is

very different from the

;

personal appropriation of them

Machinery's Value.

Machinery,

(4) machinery.

as

cc,

creates no

new

value.

Its value is transferred to th

product.

THE STUDENTS' MARX.

8i

This value of machinery, transferred to and reappearing

in the product,
is

of

much

greater quantity than the

value of the tools in manufacture.

Total

and Transmitted

Value.

The

value

of

machinery is transmitted to the products bit by bit. Every product into whose production the machine
enters has a fraction only of the total value of the

machine transmitted between the

transferred from

to

it.

There

is

a great difference

total value of a
it

machine and the value

in a given time to the product.

And
it is

this difference is

much

greater in a machine than

in a tool.
the

Area of

Product.

The

extent to which the

transmitted value makes the product dearer depends

upon the area of the product.

i.e.

the greater the size or the

The wider this area, number of the things

of a pro-

produced, the less the amount of value transmitted

from the machinery

to

any given portion

duct or to any one product.

Amount

of the Product.

The amount of the pro-

duct will depend upon the velocity of the working parts of the machine.
Generally.

In the product of machinery, the value

Its absolute

due to the instruments of labour increases relatively,

but decreases absolutely. but
its

amount

is less,

amount, relatively to the total value of the

is

product,

more.

Productiveness of a Machine.

The

productiveness

82

THE STUDENTS' MARX.

machine
is

of a

measured by the amount of human

it

labour-power that

replaces.

Concrete Example.

Suppose

a machine costs as

much

as one year's

wages

of 150

men whom

it dis-

places, say 3000.'

This 3000 does not express the total labour added

to the product in one year

by the 150 men before the

It only expresses their

introduction of the machine.

necessary labour-time

(p.

52) for the year.

On

the other hand, the 3000, the money-value of

its

the machine, expresses all the labour expended on

production, no matter

no matter what was vc

Hence, even labour-power
it is less
it if

what was the or what was s.

n.l.t.

or

s.li.,

a machine costs as

much

as the
in

displaces, yet the labour

it

embodied

than the labour

replaces.

The Cost
it is

to the Capitalist.
it is

From the preceding note,

clear that

possible for the difference between

the price of machinery and the price of the labour-

power

it

displaces to vary, although the difference be-

tween the quantity of labour requisite to produce the machine and the total quantity replaced by it remains
constant.

And

it is

the former difference alone that

determines the

cost, to

the capitalist, of producing a

commodity.
SECTION
3.

THE

PROXIMATE EFFECTS OF MACHINERY ON THE WORKMAN.

supplementary labour-power

(a) Appropriation of

THE STUDENTS' MARX.

by
capital.

S3

The

employment
Labour-Power.

of

women

and
dis-

children.

SuppleTTientary

Machinery
of

penses with muscular power.

The labour
of the

women,

youn^
family

persons,

and children

is

therefore sought for

by

the capitalist.
is to

Every

member

labourer's

be enrolled.

Depreciation.
of

Hence

a depreciation in the value

the

labourer's

labour-power.

Machinery thus

extends the area of capitalistic exploitation, and at

the same time raises the degree of that exploitation.

Change in

the Contract.

When

the exchange of

commodities was taken as the basis of the contract

between labourer and

persons.

capitalist,

they met as free

But now the

capitalist

buys children and

young

persons, and the labourer sells not only his

own

labour-power, but his wife and child.

Mortality.
tality
that,

A
as

further result

is

the enormous mor-

consequence, breaks
of chapter

out

among
this,

children.

To the giving

and verse for

some

six pages are devoted.

Resistance Broken Doion.

This addition of women,

of that resistance

young
the

persons, and children to the ranks of labour

ends in the breaking

down

which

men

had, during the manufacturing period, offered

to the masters.
(6)

Prolongation of the working-day.

Antithesis.

Machinery

is

the most powerful means

THE STUDENTS' MARX.

labour,
i.e.

for increasing the productiveness of

for

shortening the working-time required for the production of a commodity.

it

But

in the hands of capital

becomes the most powerful means for lengthening

Reasons.

the working-day.

Machinery

creates (a)

new

conditions

(b)

new motives

for capital.

New
(3)

Conditions.
41)

The
first of

implements

of

labour

(p.

are automatic.

So

is,

to a large extent,

the motor-power, the

the three essentials to

machinery, (a)

(p. 41).

The work is apparently light,

docile

and women and children, more pliant and

men, are employed.

than

New

Motive

No.

1.

The

productiveness
of

of

machine varies inversely as the amount

transferred from
its life,
it

value

to a given product.

The longer
its

the greater the mass of products over which

is

transmitted value

spread, the less the fraction of

that value added to each given product.

But

this

length of
day.

life

depends upon the length of the working-

Machines are worn and torn both from use and

non-use (rusting,
depreciation, as
etc.).

And they undergo

a moral

more and better machines of the same kind come upon the market. Now the shorter the time in which the total value of a machine is reproduced, the less the danger of moral depreciation
;

and

the longer the working-day, the shorter

is

that time.


THE STUDENTS' MARX.

New

Motive No.
of

2.

The lengtheniDg
productiou,
is

of the

work-

ing-day allows
alteration in so

more

without

any

much

of cc as
i.e.

fixed capital in the

is

ordinary economist's sense,

ings,

as

laid out in build-

machinery, and the

like.

New

Motive No.

3.

When

machinery
at

is first in-

troduced into an industry, the labour employed by

the owner of the machinery
is,

first,

of a higher

degree and
labour.

greater efiicacy than the

capitalist,

average social
the most of

The

anxious to

make

this brief transition period, lengthens the

working-

day.

New
(p.

Motive No.

4-

reference to formula (iv.)

S,
if

66),

S = P%

i^;

shows that for a given

is

the rate of surplus-value

to be increased (n), the

number

of labourers

must

be

diminished.

This

diminution in the number of labourers drives the

capitalist to lengthen the

working-day.

Surplus-Labour Population.

-And this setting free

by
the

of the labourers that are supplanted

machinery

gives rise to the surplus-labour population, whose significance is considered later.

(c) Intensification of labour.

Reaction and Its Consequence.

The

immoderate

lengthening of the working-day leads to a reaction

and

to the fixing the length of that

day by law.
of
its

And

this, in its turn, leads to intensification

labour.

Labour now has not only a measure of

extension

86

THE STUDENTS' MARX.

duration, but a measure of its intensity

tion.

condensashorten-

Subjective,

and

Objective Conditions.

The

ing of the working-day creates the subjective conditions for intensification of labour,

by enabling the

labourer to exert more strength in a given time.

Machinery becomes the objective means, (a) Machinery is improved in its motor (1), (p. 41), in its transmitting mechanism (2), in its tools (3). Its speed is
increased,
(h)

The labourer has more machinery

to

look after.

Examples.

On pp. 409-417, Marx gives

of factory inspectors

quotations
sources,

from the reports

and other

proving that upon the shortening of the workingdays there followed intensification of labour.
this not only in the industries

And
In

under the Acts.

potteries
little

and other industries where machinery plays

or no part, the shortening of the working-day

increases wonderfully the regularity, uniformity, order,

continuity, and energy of the labour.

After the Twelve Hours.

The quotations range

first

over the twelve years from 1832-1844 (see pp. 59-61).

So great had tlie intensification of labour become by 1844, that even the great and good factory inspector, Leonard Horner, actually thought that farther intensification

was

impossible.

He

under-estimated the elas-

ticity of

machinery and of man's labour-power.

After the Ten Hours.

But

after 1847,

when

the

THE STUDENTS' MARX.

ten hours working-day came
in,

87

the quotations

tell

the

same

tale of yet further intensiiication.

Masters

Gain.

And

how, with the more intense

fact that

exploitation of labour-power, the wealth of the masters increased, is

shown by the

from 1838 to

1850 (twelve

years), the average proportional increase

in English cotton and other factories

while from 1850 to 1856 (six years)

cent.

was 32 per cent., it was 86 per

Prophecy.
lished

princiijle in science is firmly estabit

when a prophecy based upon

is

proves true.
note Marx'
slight-

Let the student, knowing what

at the present time

air,

the working-class question most in the

words written in 1867

"

There cannot be the

est doubt that the tendency that urges

cajoital, so
is

soon

as a prolongation of the hours of labour

all

once for

by a systematic heightening of the intensity of labour, and to convert every improvement in machinery into a more perfect means of exhausting the workmen, must soon lead to a state of things in which a reduction of the hours of
forbidden, to compensate itself

labour will again be inevitable."

SECTI0N_4.
Tire's

THE

FACTORY. a factory
of
(1) as

Definitions.

Ure

defines

"

combined co-operation of many orders

work-

people,
skill

adult

and young,

attending

with assiduous

a system of productive machines continuously

THE STUDENTS'- MARX.

impelled by a central power."
applicable to every possible

This definition

is

employment

of machinery

on a large

scale.

Or

(2) as "

mechanical and intellectual

a vast automaton composed of various organs, acting in un-

interrupted concert for the production of a

object, all of

common

them

being subordinate to a self-regulated

is

moving
of

force."

This definition
capital,

applicable to the use

to the

machinery by
Equalising

and therefore

modern
grada-

factory system.

Tendency.

In

place

of

the

tions of specialised

workmen under manufacture, we

to reduce to the

have under machinery a tendency

same

level all the

work done by

those attending to

the machines.

Simple Co-operation.

Such
is

division of labour as

does obtain in the factory

a distribution of work-

men among

specialised machines,

and

of masses

of

workmen, not organised

partments of the factory.
fore only simple.

in groups,

among

the deis

The co-operation

there-

Workmen.

There are two chief groups.

tlie

(1)

Work-

men

actually em])loyed on

machines;
to,

(2) atten-

dants, mainly children.

Aggregated
class, is

but distinct

from, the factory operative

of people that look after the

the small
as a

number

machinery
etc.

whole and

repair

engineers, mechanics, Specialisation Vanishes. Machinery

it

does

away

THE STUDENTS' MARX.

with the annexation of a particular
ticular function,

man

to

a par-

and does away with any

special class

of operatives.

Comparison between Manufacture and Machinery.

In

manufacture, the

machinery, the

workman

is

workman uses a tool. used by a machine.

In

In manufacture, the movements of the tool proceed

from him.

In machinery, he follows the movements

of the machine.

In manufacture, he

is

part of a living mechanism.

In machinery, he
mechanism.

is

the living appendage of a lifeless

For
system
;

the

Workman. Exhaustion of the nervous monotony freedom of bodily and mental

;

activity
fines
;

lost

barracks

discipline
;

a factory code

deductions from wages

disease

and danger.

SECTION

5.

THE

STRIFE BETWEEN

WOEKMAN

AND MACHINE.
Contests.

The

contest between

capitalist

and

la-

bourer dates back to the origin of capital, and goes on

through the manufacturing period.

between the
Examples.

machine (embodied

capital)

But the contest and the

labourer begins under machinery.

A number of examples are given.

it

The

ribbon-loom in Germany and Holland, and the conflicts to

which

the precursor

of the

mule and the

go

THE STUDENTS' MARX.

power-loom, and of the industrial revolution of the eighteenth century gave rise. The wind saw-mill in

London (1630) the wool-shearing machine (1758) the

; ;

scribhling-mills and carding-engines; the Luddite

riots.

Change of Attack.

At

first,

the workers attacked

the material instruments of production.

Now,

as they

are learning to distinguish between machinery and

the employment of machinery by capital, their attack

is

being transferred to the capitalistic method of pro-

duction as a whole.
Stages

Leading up
sells his

to

this

Conflict.

(1)

The
(2)

labourer

labour-power as a commodity;

division of labour specialises this labour-power, reduc-

ing
tool

it

to skill in the use of a particular tool

;

(3) this

becomes part of a machine

(4) the use-value

and then the exchange-value of the labourer's labourpower vanishes (5) he becomes superfluous, and goes to the wall, or floods the more easily accessible branches of industry, swamping the labour market
;

and lowering the

price of the labour-power.

Misery, Chronic or Acute.

If

machinery

seizes

upon an industry by
machinery
acute.
seizes

degrees, the resulting misery to

it is

the operatives competing against

chronic.

If

upon an industry
is

rapidly, the resultit is

ing misery to the operatives competing against

And, as machinery
production,

continually seizing upon

"

new

fields of

its so-called

temporary

"

effects are really

permanent.

THE STUDENTS' MARX.

91

New

or

Improved Machinery.

The

antagonism

between the machine and the labourer comes out most strongly when new machinery begins to compete
with manufacture.

But every improvement

in

an

established machine brings out the antagonism againX,

A
tor.

Weapon
It
is

Also.

Machinery

is

not only a competi-

the most powerful of weapons on the side

of the autocracy of capital.

SECTION

THEORY OF COMPENSATION AS REGARDS THE WORK-PEOPLE DISPLACED BY MACHINERY.

6.

THE

Compensation Theory.
represented by the
ilills,

The
sets

bourgeois economists
all

contend that
free

machinery
of

which

displaces

workmen

an amount

capital sufficient to

Concrete Example.

employ the workmen it displaces. 100 men are employed at a

wage of 30 a year, vc = 3000 cc, say, also 3000. Now, assume that by 1500 worth of machinery 50
;

AU. that happens is that of the men are displaced. now w = 1500 (50x30), and cc = 4500 (3000 + 1500). No capital is set free; only 1500 of vc are now cc.

Even
1500,
free.

if

the machinery only cost 1000, and not

cc is

now 4000, and

there are

500

of vc set

But

this

500 cannot compensate the 50 men

most one-third of their number.
Machinery.

displaced, only at

Makers of

the

Even

if

the making of

THE STUDENTS' MARX.

new machinery employed
as

the

many men

as the

machinery displaced, and that permanently (two quite impossible suppositions), that would be no compensation to the

men

that are displaced.

-What is set free is the 1500 worth of means of subsistence of the 50 men displaced. The men are discharged, and can no longer get at their means of subsistence, which are, as far as they are concerned, " free." But this 1500 worth of means of subsistence was never capital that was being expanded by the workmen now discharged.
is

What

Really Set Free.

The 1500 represented part of the products produced in the year by the 50 discharged men, which they received as wages in money, not in kind, and with which

they bought means of subsistence.

therefore,

These means,
;

were

to them, not capital, but commodities

in respect to these

means

of subsistence, the

men were

not wage-labourers, but buyers.

Real Facts.

The

labourers are thrown upon the

labour market, adding to the

of the capitalist.
If they

number

at the disposal

do find some other emis

ployment,

new and

additional capital
their wages.

necessary to

form the vc necessary for

Antitheses.

Machinery,
;

considered alone, shortens

capital,

the hours of labour

under

lengthens them.
;

Machinery, considered alone, lightens labour

capital, intensifies
it.

under

Machinery, considered alone,

is

a victory of

man

THE STUDENTS' MARX.

over Nature
;

93

under

capital, is the

enslavement of

man

to Nature.

Machinery, considered alone, increases the wealth of

the producers
;

under

capital,

makes them paupers.

Law. If the total quantity of the article produced by machinery is equal to the total quantity of the
article previously

produced by manufacture, the total

is

labour expended

diminished.

As a matter

of fact,

the total quantity of the article produced by machinery,

with fewer workmen,

far exceeds the total quantity

of the

hand-made

article displaced.

Indirect Effects.

As the use of machinery

is
3, p. 41).

extends

in a given industry, production

increased in the

industries that furnish that industry with the

means

of production (2 and

As the use
intermediate
" 3'ield " in

of

machinery extends in preliminary or

of

stages

production, there

is"

more

those stages,

and more demand for labour

in the branches of industry supplied

of the machines.

by the produce

As machinery, with the

creases the
creases

aid of fewer people, insocial

mass of products,
diversity,

production inof
luxuriejs
diversify',

in

the

production

increases, the carrying trades increase

and

new branches
class

of production

{e.g.

railways and tele-

graphs) appear, and more and more of the workingare employed unproductively,
as, e.g.,

domestic

servants.

94

THE STUDENTS' MARX.

7.

SECTION

REPULSION"

AND ATTRACTION OF WORKCRISES IN

PEOPLE BY THE FACTORY SYSTEM.

THE COTTON TRADE.

Relative

and Absolute

Decrease.

Occasionally
of

an

extension of the factory system

may

be accompanied,
labourers em-

not only by the inevitable relative decrease, but by an

absolute decrease in the
ployed.

number

Thus, from 1860 to 1865, the increase in

all
;

looms, in

the factories in a particular district, was

11 per cent.

the increase in spindles, 3 per cent.

;

in

engine-power, 3 per cent.

and the decrease

in persons

employed was 5 J per cent. Again, an increase in the number of hands employed

may

be only apparent,

owing

to

the annexation of

allied trades to factories already established.

Again, a relative decrease

may

be accompanied

with actual

increase.

Concrete Exccmple.

Suppose,

under manufacture,
is
cc,

C = 500
vc

(weekly), of which
say,

200

and 300

wages,

1 a man.

After machinery has re-

placed manufacture, suppose that cc becomes 400,

and vc only 100.

fore, are displaced,

Two-thirds of the 300 men, there-

and only 100

the

left.

Now, assume

that

business grows, and that

C = 2J00, i.e. four times as much as before. 400 men will now be employed, an increase of 100 over the
original number.

But

relatively,

i.e.

in proportion to


THE STUDENTS' MARX.
C, the diminution things,
95

2000

= 800 C would

for, in

the old condition of

have employed not 400, but

Introduction

1200 men.
First

and Later Periods

Machinery.

The

of
is

of

first

period

a decisive

moment
is

on account of the great

attracted into

profits

made.
of

Capital

the favoured sphere

general
is

production.
industry-

When
this

once, however, the

modern
an

conditions are established, there

elasticity

about

means

of production, only checked

(26, p.

by the supply
in increased
;

of the

raw material
(4).

41) and the getting rid of

is

the product
supplies
:

26,

however,

met with

foreign markets are conquered

emigration,
set

colonisation,
in.

and international division of labour

Industrial Cycle.
production,

This

elasticity leads

to

over-

and then stagnation.

The

life of

modern

industry

is

a series of periods of moderate activity,

over-production, crises, stagnation.
is

prosperity,

The
then

cotton industry in England from 1770 to 18f 3

taken as an example of
period of monopoly
stagnation.

this.

From 1770
when

to 1815, the

five years of crisis, five years of

From 1815

to 1846,
sets in

competition
years of deto

with Europe and America

pression

nine
some

and

stagnation.

From 1846
to

1863

nineteen years of depression and stagnation. Cotton Famine.

This was,

extent, advan-

tageous to the masters.

The small ones were swallowed

96

THE STUDENTS' MARX.

large ones.

up by the
part time. the people
these

Inferior cotton being used, the

Most of the mills only worked wages of

who were paid by piecework fell. From wages fines were exacted, many of them on acarticle,

count of defects in the finished

inferior cotton.

due

to the

The master, when

first.

a landlord, took his

rent out of the wages

Prostitutes increased in

number.

SECTION

8.

REVOLUTION

EFFECTED

IN

MANUFAC-

TURE, HANDICRAFTS,

AND DOMESTIC INDUSTRY,

BY MODERN INDUSTRY.
(a)

Overthrow of co-operation based on handicraft,

on the division of labour.
the mowing-machine,

and

of manufacture based

Examples.

Of

the

former,

replacing co-operatioii

among mowers.
One

Of the

latter,

the needle-making machine.

man
week.

in

Adam Smith's time made 4800 needles a One woman or girl can superintend machines
3,000,000 needles a week.
Cases.'

making

Transition

single

machine

replacing

either of the above,

may,

for a time, serve as the basis

of a handicraft industry.

a time, carried
factories " of

Or an industry may be for on upon a small scale by means of

mechanical power, as in the case of the "cottage-

Coventry in their hopeless twelve years'

struggle against the factory proper.

THE STUDENTS' MARX.

(5)

97

Reaction of the factory system on manufacture

industries.

and domestic

On Manufacture.
alters
its

Production
(qualitative).

in all branches of

industry not only extends (quantitative change), but

character

And

there

is

change in the composition of the collective labourer,

since the basis now of the division of labour is the cheap labour of women, children, and the " unskilled."

On

Donnestic Industries.

Besides

the operatives
for it

in the factory, capital in their

is
still

commands those working

power

own homes
;

or workshops.

Exploitation here
of resistance of the
:

worse

for (1) the

labourers lessens with their dissemination

(2)

middle;

men appear
ment
" is

(3) there is

competition with the factory

(4) space, light, ventilation, are

wanting

(5)

employthe

irregular
"

(6)
is

competition

amongst

domestic
(c)

workers

at its

maximum.
taken up with examples

Modern manufacture.

Examples.

This section

is

in illustration of the principles laid

and

in the preceding chapter.

down in a and b, They are taken from

the Children's

Employment Commission Report, the

Trade, and the Public Health
industry.

Report on the Rag

Report of Dr. Simon.
(c?)

Modern domestic

Examples.

Here

again are a

number
for

of most ap-

palling statistics and facts, again from the Children's

Employment Commission.

Once

all let

me

note

THE STUDENTS' MARX.

that I do not here, or at anj? other part of this analysis,

intend to quote these quotations.

they should be, read by every one

They can be, and but the giving them

They
and

does not come within the scope of this work.

are nevertheless of the greatest possible value to the

student, as a confirmation of the position of Marx,
as a stimulus to action.
(e)

Passage of modern manufacture and domestic

into

industry

modern

mechanical industry.

The

hastening of this revolution by the application of the

Factory Acts to those industries.

Stages.

Cheapening of labour-power.
Capitalistic exploitation.

Cheapening
Encounter
Intro-

of commodities.

of

all

these with natural, impassable obstacles.

duction of machinery.

Absorption of manufactures
factory.

and domestic industries into the

illustration the production of

Production of Wearing Apparel. Marx takes as wearing apparel. In 1861, in England- and Wales, 1,024,277 persons were
(1)

employed as
tories

workers in manufactories
workers.

(2) small

master handicraftsmen, working for the manufac;

(3)

domestic

The manufactories

(see 1) allowed (2)

and

(3) to continue, with a mini-

mum
the

Sewing-Machine.

wage and a maximum working- time. The critical point is reached

natural, impassable

obstacles are

encountered.

The sewing-machine is introduced. Wages of Effect on Workers.

(2)

sink.

Women

THE STUDENTS' MARX.

and
(3).

99

work the machine at a higher wage than They destroy the men's monopoly of the heavy work, and drive away from the lighter work old women and very young children.
girls

Transition Forms.

These vary greatly.

in

In dressis,

making
first,

(simple co-operation),

the machine

at

only a

new

factor

that manufacture.

In

tailoring, etc., the

forms are mixed,

"

factory
;

system
central

proper

middlemen
with

sweaters

"

families

capitalist

many

machines,

who employs

the

domestic workers.

Causes of the Conversion. The conversion of all these to the factory system proper is led up to by (1) the tendency to concentrate under one roof and

management the
etc.,

scattered branches of a trade

(2) the

convenience of having the preparatory needlework,

done on the premises

;

(3) the

expropriation of

the domestic workers

articles,

(4) the glut of

machine-made
sell

forcing the
;

domestic workers to

their

machines

(5) the

over-production of machines com-

pelling their owners to let

them out on

hire

(6) the
this,

substitution of the steam-engine for man.

In

as in most industries, handicrafts, manufacture, domestic

industry pass into the factory system.

Factory Acts Help.

revolution
is

This

spontaneous industrial

artificially

helped by the Factory Acts.

They

lead to greater concentration of

mp

(p. 42),

and

greater concentration of the labourers.

These, at the

THE STUDENTS' MARX.

same
time, compel greater outlay of capital,

and so

kill

the small master and concentrate capital.

Two

Essentials for the Factory System.

i.e.

Certainty
an essential

in the result,

the certainty of producing in a given

is

time a given quantity of commodities,

condition for the existence of the factory system.

is

So
at

the possibility of the interruption of the

in

work

the statutory pauses

the

working-day, without

harming the product.

I m/pediments
Labour.-

to

the
"

Regulation of the Hours of

the masters.
legislation.

(1)

The

impossibilities " of

These always vanish under compulsory

2.

3. 4.

The irregular habits of the Anarchy in production.

labourers.

Periodic changes in the industrial cycle

(p.

95)

special fluctuations in the

5.

markets

"

seasons."

Customs of the

trade.

Answers.
ties "

From the

reports of the Children's

is

Em-

ployment Committee, it

proved that(l) "impossibiliin the

vanish before larger buildings, more machinery;

labourers,

more
(2)

and the alterations

production and distribution that result

method from these.

is

of

and

(3).

That the mass of labour

spread more

evenly over the whole year.

That the caprices of "fashion" are checked, and that the development of the means of
(8)

and

(4).

communication gets rid of the technical basis of seasonwork.

THE STUDENTS' MARX.

SECTION
9. SANITARY AND THE FACTORY ACTS. THEIR EDUCATION CLAUSES OF THE SAME. GENERAL EXTENSION IN ENGLAND.

Clauses
Sanitary.

(a) Not Affecting Hours Sanitary These are limited to provisions for white.

washing

walls, insuring cleanliness in other matters,

ventilation, protection against dangerous machinery.

fact that such clauses are necessary in

The Nature of Capitalistic Production. The mere an Act of Parcharacter of capital.

(it

liament, shows the

The 500
to be 800)

cubic feet of air for each person

ought

cannot be wrung from the masters by the inspectors. In one mill near Cork, between 1852 and 1856, there

were six

fatal

and sixty ordinary

Glauses.

accidents, all pre-

ventable by the outlay of a few shillings.

Education

(b)

Education.

The factory
as

children, although only at school half the time of the

others, are fresher, readier,

more willing than, learn

quickly and as
lies

much

as,

the others.

In these clauses

the germ of the education of the future, which will

for every child

combine productive labour, instruction,

and gymnastics.

Immanent Antagonism. The immanent antagonism between the manufacturing division of labour and the methods of modern industry, shows itself in

many

ways.

Notably in the fact that many children

e.g.

are chained to some one simple manipulation,

the

THE STUDENTS' MARX.

printers'

boys

who put paper

under, or take printed

later

sheets from, the machines,

and are

on

fit

for

nothing.

Technology.

Modern

industry,

analysing

every

process of production, founds

nology.

the science of tech-

This discovers the few main fundamental

Just as Mechanics works out the few main
simple

forms of motion that make up every productive action

of man.

fundamental
machinery.
Result
of

machines

that

make up

all

the

AntagonisTn.

Modern

industry

necessitates variation of labour of the labourer.

and universal mobility

la-

On

the other hand (see last note but

one)

it

reproduces and petrifies the old division of

bour.

This contradiction between technical necessities

social character of

and the

modern industry renders the

and
will lead to the
" The historical devel-

position of the labourer insecure,

ending of the capitalis tic system.

opment

of the antagonisms
is

immanent

in a given form

of production

the only

duction can be dissolved and a

way in which that form of pronew form established."

Extension of the Factory Acts to " Hom,e." The regulation of "home-labour" by legislation was, at But even first, an attack upon parental authority.
Parliament was forced to recognise that modern
dustry, overturning the economical foundation wliich the traditional family
all

in-

upon

was

based,

had loosened

the traditional family

ties.

THE STUDENTS' MARX.

The,

103

Real Position.

It was not that the misuse

It

of

parental authority created the

tion of the labour of children.

capitalistic exploita-

was the

capitalistic

exploitation

which had caused the misuse of parental

authority.
is

The Teutonic-Christian form of the family no more final than the Koman, Greek, or Eastern

form.

Generalisation of the Factory Acts.

ginal four
historical

The extension
The two
more

of the Factory Acts to other industries than the ori(p.

59) was an inevitable necessity in the

development of modern industry.

things that finally decide are (1) that capital, legally

controlled at one point, compensates itself with

and more recklessness at others

restraint

(2) that the capitalists

i.e.

cry out for equality in competition,

for equal legal

upon all exploitation of labour. i567.Hence, August 15, 1867, the Factory Acts Extension Act, covering eleven industries, whenever 50 or more persons were employed 100 or more days
in the year in those industries.

August

21, 1867, the

Workshops Regulation Act

dealing with small industries (handicrafts and work-

shops) was passed.

Drawbacks.
vitiated

The Factory Acts

Extension Act was

by

vicious

exceptions and cowardly com-

promises with the masters.

The Workshops Regulation Act was a dead

letter

in the hands of the municipal and local authorities to

I04

THE STUDENTS' MARX.

it

whom

was

intrusted.

And when,
it

in 1871, Parliait

ment took

the execution of

from them and gave

staff,

to the factory inspectors, only eight

more inspectors
al-

were added were added

to

the already under-manned

though over 100,000 workshops and 300 brickworks

to their labours of supervision.

Mining Industry.
from
interest are
184-^.

The

mining industry

differs

others, in that here the landlord

and

capitalist

working together.
1840 led to the

The Inquiry Commission of

Mining Act of 1842, by which women and children

under 10 were not to be employed underground. The Mines Inspecting Act of this year 1860.
provided for the inspection of mines by public ofBcers

duly appointed, and for the non-employment of boys

between 10 and
tificate or

12,

unless they

had a school
letter.

cer-

attended school for a certain number of

hours.

This Act remained a dead

1866 Report From the Report of the Select Committee on Mines, 1866, with
the witnesses as
Justice,
if

its

cross-examination of

they were in an English Court of

and the Commissioners were impudent and

shameless barristers (compare our Labour Commission

of 1891),

Marx

gives another awful series of quota:

tions under the heads

boys of

employment in mines of 10 years and upwards; (2) education; (3)

(1)

employment
false weights

of

women

(4) coroners'
;

inquests

(5)

and measures

(6) inspection of mines.

THE STUDENTS' MARX.

Insufficiency of
Inspectors.

loS

In

the

year

1865

there were in

Great Britain 3217 coal

mines and
work, each

12 inspectors.
that,

Yorkshire mine-owner calculated

side

putting on one
visited

their

office

mine might be
years.

by an

inspector once in ten

1872.

very defective Act, regulating the hours

labour of children employed in mines, and making

the capitalist to some extent responsible for
dents."
''

acci-

Agriculture.

In

1867 a Royal Commission was

appointed to enquire into the condition of children,

young
It

persons, and

women employed

in agriculture.

published

reports,

and abortive attempts were

to

made to extend the Factory Acts to agriculture. Summary. The extension of factory legislation

all

trades

is

inevitable.

centration of capital in

But that means the cona few hands, and the factory
generalisation
to
capital.

system

universal.

This

of

capital

generalises the opposition

In the indigenerally,

vidual

workshop, order;

in

production

The small and domestic industries vanish. The surplus-labour population has no outlet. The The social combination of material conditions ripen. the processes of production ripens. The antagonism in the capitalist method of production ripens. The old
anarchy.
society explodes, and the
ashes.

new

society rises from its

io6

THE STUDENTS' MARX.

SECTION
Effect

MODERN INDUSTRY AND AGRICULTURE. of Machinery. The use of machinery in

10.
is

agriculture

for the

most part
it

free

from the

inits

jurious physical effect

has in the factory.

is

But

action in displacing the labourer

more

intense.

Annihilation
even in
replaces

of

the

Peasant.

In

agriculture,
effect

modern industry has a more revolutionary

factories.

than

It

annihilates the

peasant and

him by the wage-labourer.

Agriculture
these
is

and Industry.

^The old bond between

Agricul-

broken by

capitalistic production.

ture and industry, thus separated

later

and developing,
agriculture, as in

on undergo a higher synthesis.

MartyrdoTYi of the Producer.

industry, the machine

In

employs

and

enslaves

the

producer.

And

in

this case,

the dispersion of the

labourer over wide areas lessens his power of resistance.

Further, the

soil,

as well as the labourer, is

robbed.

PART v. THE PRODUCTION OF ABSOLUTE AND OF RELATIVE SURPLUS- VALUE.

CHAPTER XVI. Absolute and

Subpltjs-Valtje.

Relative

Labour-Process in the Abstract.

Considering
(1), p.

the

labour-process in the abstract, from the point of view

of
is

its result,

apart from historical forms

;

41,

productive labour

(2)

and

(3)

are

mp.

This

when (1) is productive labour, does not hold when we consider the labour-process
method
of determining

in the concrete, under the historical

istic production.

form

of capital-

The Collective

and

the

Individual Labourer.
the

The above
capitalistic

definition of productive labour holds,

under

production, for

collective

labourer.

But it no longer holds for the individual labourer. As capitalistic production is essentially the production of surplus-value, the individual labourer
is

only productive
the capitalist.

when he produces

surplus-value for

Absolute Surplus-Value.

-The

prolongation of the

107

THE STUDENTS' MARX.

working-day beyond ah
bour-time
(p.

41)

the
of

necessary la-

leads
This

to the
is

production of relative surbasis

plus-value.

the

the

capitalistic

system, and the starting-point for the production of

relative surplus-value.

Relative.
talistic

This

last,

which presupposes the

revolutionises
labour,

capi-

method

of

production,
of

the

technical

processes

and

revolutionises

society with its

development and the development

replaced

of the capitalistic system.

labour to capital labour to capital.

is

The formal by the real

subjection of subjection of

Transition Forms.
labour
is

Forms in which as yet surplusby

direct compulsion, are the
industries.

not extorted

independent handicraftsmen, the old-fashioned agriculturists,

and the domestic

Productiveness of Labour.
all his

If the labourer

wants
no

time to produce his means of subsistence, he

s.l.t.

has no

(no surplus-labour-time), and there

is

capitalist.

To have

s.l.t.

there must be a certain

;

degree of productiveness of labour

and

this

is

gift,

not of Nature, but of historical development.

Physical
ment, the

Fetters.

Apart
(1)

from
of

historical developis

productiveness

labour

fettered

by
;

physical conditions.

The nature

of

man
two
;

himself
sets
:

(2) natural conditions, these falling into

(a)

natural wealth in means of subsistence

(h)

natural

wealth in means of production.

THE STUDENTS' MARX.

sl.t.

109

Surplus-labour-time

is is

greater
less.

in

proporthis
is

tion
less,

as necessary labour-time

And

as the fertility of the soil

and the favourable

nature of the climate are greater, and the number of

natural wants of the individual are smaller.

The Tem'perate
the fertility of the
of production
is
is

Zone.-

-The

quantity of

s.l.t.

varies

with the physical conditions of labour, especially with

soil.

But as the

capitalistic

mode
it

based on man's power over Nature,

not where Nature is method obtains most readily.

the hot-bed of capital.

strongest that the capitalistic

The temperate zone

is

Nature.

Nature,

then,

explains

nothing of the

" innate faculty of labour to

produce surplus-value."

It only explains the longer or shorter length of ah,

and therefore

directly or indirectly the length of ac.

Mercantilists.

The

mercantile school derived the

excess of price over cost of production of the product

from the

act of exchange
its

and the

selling of the pro-

duct above
Ricardo.

value.

Ricardo never troubles himself about the

To him
it is

origin of surplus-value.
capitalistic production,

inherent in

and

capitalistic production is

the natural form of social production.

of labour, to him,
is

Productiveness

not the cause of surplus- value,

but only determines the magnitude of surplus-value.

His School.-^His
^

followers,

however, have pro-

claimed the productiveness of labour as the cause of

THE STUDENTS' MARX.

profit (they

mean

surplus-value).

But they did not

solve the problem.

/. 8.

Mill.

Wi^

repeats

the errors of Ricardo's

popularisers,

and then confounds the duration of

its

labour-time with the duration of

products.
profits,

Ac-

cording to him, there will always be

even

without the buying and selling of labour-power.

Profits.

Profits are

not calculated, as Mill thinks,

is,

on the vc, as the rate of surplus-value i.e. on the total capital advanced (v. i. p.

but on

113).

CHAPTER XVIL Changes

plus-Value.

of Magnitude in THE Price of Labottr-Power and in Sur-

Value of Labour-Power. The value of labourpower depends upon three things (a) the value of the means of subsistence (6) the expense of develop:

ing the

labour-power, varying
;

with the mode of

production

(c)

the natural diversity of the labour-

power

of

men, women, young persons, children.

Assumptions.
are neglected.
ties

In

this chapter the factors b

and

It is further

assumed that commodi-

are sold at their value,

and that the price

but never

of

labour-power
below,

rises occasionally above,

falls
j.
-;/

its value.

Generally.

The magnitude of the surplus- value, and

of the
(6)

the magnitude of the price of labour-power, depend on

(a) the length

working-day

(ac,

p.

54)

de-

note this by

I.

given

quantitj'^ of
i.

labour

denote this by

The intensity of labour, whereby a is expended in a given time (c) The productiveness of labour,
;

whereby more same quantity

or less product

is

produced by the

of labour; denote this

by

p.

Marx

then proceeds to investigate the chief variations that

can occur in these three factors,
I,

i,

p.

THE STUDENTS' MARX.

I.

and
1.

constant

variable.
(i)

Law
vary.

working-day of given length

pro-

duces the same

If

amount of value, no matter how 'p may p varies, more or less products will result,
of each product will fall or rise, but the

and the price

amount number

of value

spread over the greater

or

less

o products will

remain the same.

3. Surplus-value varies directly as p But the value of labour-power varies inversely as p (cc -'). Hence an increase in p causes

Law

(cc p).

a rise in surplus-value,

fall in

the value of labour-

power
value,

a diminution in
rise in the

causes a fall in surplus-

value of labour-power.

Although the amount of change in the magnitude

of the

surplus-value and in the magnitude of the

value of labour-power must be the same, the proptortion of the change

is

not necessarily the same, and

n.l t.=s.l.t.
varies,

can only be the same

when

Law
is

3.

Variation in surplus-value, when p

and never the cause of variation
sequence
of
is

the effect

in the

value of labour-power.
Sequence.

The

(a)

change in value
surplus-value.

labour-power;

change in p (b) (c) change in

;

Means
is

of Subsistence.

The

value of labour-power

determined by the value of the means of sub-

sistence,

and

this value

Ricardo.

Ricardo was

changes with p. the first to formulate laws

THE STUDENTS' MARX.

But (a) he held that I and 1, 2, 3. and that p alone varied. (&) He,
whole, independently of
etc.
its i

113

never varied,
the other
as a

like

economists, does not investigate surplus-value

form?, rent, interest, profit,

Surplus-Value and
b,

Profit.

As

a consequence of
Really the rate of
is

Ricardo, like Mill

(p.

110), confuses surplus-value

with one of

its divisions
is
^^

profit.

surplus-value
less,
II.

(p. 61).

The

rate of profit

much

as
I

it is

j-.

and p constant; i variable. Increased i. More products and

more

value.

The

price of the individual products, therefore, does

fall,

not, in this case,

but

rises.

And

the surplus-value and the value of labourdirectly as one another.

power may now vary

no change in the value of labour ^power, and therefore

varies, there is

The Products Affected.

When p

in the

amount

of surplus-value, unless the products of

the industries affected are the means of subsistence of

the labourer (see 4th note above).

there
is

But when

varies

a change in the magnitude of the value created, no matter what the product is.

p and i constant Law 1. The amount

III.
;

variable.

of value created

depends on

the length of ac,

i.e.

of the working-day.

Law

2.

Every

change in the relation between

the magnitudes of surplus-value, and of the value of

114

THE STUDENTS' MARX.

labour-powerj arises from a change in the absolute

magnitude of the surplus-labour, and

the surplus-value (a change in
he,

therefore

of

the

s.l.t.

or surplus-

labour-time of the working-day).

Law

3.

The

absolute value of labour-power

can

change only in consequence of the reaction exercised

by the prolongation
labour-power.

of he

upon the wear and tear

is

of

Variation in the absolute value of

I,

and never the cause, of variation in the magnitude of surthe

effect,

labour-power under variation of

plus-value.
I

Less.

Compare
n.l.t is

this

with

Law

under
is

i.

not changed.
s.l.t.

Nor

the value of

labour-power.

But

is

shortened.

Hence the

absolute and (since

n.l.t. is

not changed) the relative

magnitude

of the surplus-value falls.

I.

Arguments Against Lessening

can only save himself,
lowering the price
wages.
of
if

The

capitalist

these conditions obtain,

by

labour-power and

reducing

And

this is his chief

tening the working-day.

argument against shorBut the shortening of the

working-day never takes place under these conditions. Rise in p and i always precedes or immediately follows such shortening.
I

More.

n.l.t. is

not changed.
s.l.t.

Nor

is

the value of

labour-power.

But

is

lengthened.

Hence the

absolute and (since

n.l.t. is

not changed) the relative

magnitude of surplus-value rises, and the relative magnitude of the value of labour-power falls.

THE STUDENTS' MARX.

IV.

115

Simultaneous variations in Gombinations.

I,

p,

and

i.

Many

Cleaiiy,

the possible com-

binations here are very many, according to the

numof

ber of the three factors varying, according as they

vary in one direction or the other.

the laws given under
I., Ii., III.,

With the help

every possible case

can be worked out.

ones.

Marx only takes two important

I

Case

1.

less

and

more.

Industries Concerned.

In

speaking of

less p,

only

the industries whose products determine the value of

labour-power

are,

in a word,

means
5, p.

of subsistence
112).
n.l.t,

enter
hours;

into the calculation (note

Example.
s.l.t.

=Q
3s.

(i)

ac = 12

hours =

Cs.;

say,

=6

hours.

Absolute magnitude of sur-

plus-value =

Relative
:

magnitude

to

the

value

of labour-power as 1
(ii)

1.

Now,
rises
let

let

lessen until the value of the labourSs.

power 8, and
s.l.t.

from

to

4s.,

and

n.l.t.

from 6 hours
n.l.t.

to

ac lengthen by 2 hours,

=8

hours;

=6

hours.

Absolute magnitude of surplus-value

is

has not changed,

still

3s.

But
is

relative

magnitude
Absolute

to the value of labour-power

now

4.

magnitude has not changed

fallen.
(iii)

relative

magnitude has

Again, let
(ii),

p and
let

the value of labour-power ren.l.t.

main

as in
;

and

ac lengthen by 4 hours,

8 hours

s.l.t.

=8

hours.

Absolute magnitude of sur-

ii6

THE STUDENTS' MARX.

is 43.

plus-value

But the

relative

magnitude to the
(i).

value of labour-power has not altered from

still

It is

1.

Relative magnitude has not

changed

absolute magnitude has risen.

1755-^<Si5. Between 1799 and 1815 the price of

provisions rose, and there

was a nominal rise

in wages.

There was really a

necessaries of
life.

fall in

v^ages as expressed in the

Ricardo thought that a diminu-

tion in

p (of

agricultural labour)

had led to a

fall in
I

the
in-

rate of surplus-value.
creased, surplus-value

Actually, as % and

had

and absolutely.
simultaneously.

had increased both relatively Hence capital and pauperism grew

less.
ip,

Case

2.

and p more

First Effect. \^\'^ moi-e i and

a greater mass of

products in a given time.

Seco7id Effect.

Shortening

of

n.l.t.

or

ah.

Of

course
to

if

the whole working-day were shortened

if

down

n.l.t.

ao became ab

there

surplus-value, and the capitalistic

would be no more system would be at

to-day, because (a)
;

an end.
n.l.t.

In the communistic system of the future,

it is

or ab will be longer than

the notion of means of subsistence will widen

part of the
s.l.

(b)

(surplus-labour) of to-day (that for

reserve funds

and accumulation)

will then

become

necessary labour.

Economy.
labour.

p should increase

with the economy of

economy, not

And

this latter should include

TBE STUDENTS' MARX.

only of mp, but of labour.
forces

ii7

Capitalistic production en-

economy in individual businesses, but, by its anarchy of competition, begets squandering of mip and of labour-power, and creates unnecessary employments.

Spare-Time.
the classes
is

In

capitalistic society, spare-time for

life-

required by converting the whole

time of the masses into labour-time.

In the

communistic society, spare-time will

-p

be

greater as i and

increase,
all

evenly divided among

society.

and as the work is more able-bodied members of

CHAPTER;xVIII. Various Formulae for the

Rate of Surplus- Value.
Socialist

Formula.
'

The
The

rate

of

surplus-value

=i =
ve

vjlue qf labour-pomer

='J:1l (i) n.l.i, V /*

Ordinary Formula.

rate

of

surplus-value
yj

= '^=ac

7-

value created

= ";T'r7''r-'(ii)prodact \ /
total

This formula does not '^^^^

express accurately the rate of surplus- value, the de-

gree of exploitation of labour.

Assume, as
s.l.t-6.

before,

that ac = 12

hours,

n.l.t.

= 6,

of

Then by (i) the real degree of = = 100 per cent. But by labour =

exploitation
(ii)

the false

degree of exploitation of labour = '-^

s

= A = 50

per cent.

Can

be

More than 100 'per

Gent.

If

(ii)

were

ac-

must always be a fraction of ac, and the rate curate, But acof surplus-value could never be 100 per cent.
sl.t.

cording to Lavergne,

who

estimates the

capitalist

share too low rather than too high, the English agricultural labourer gets only one-fourth of this product,

and the
of s as 3

capitalist three-fourths.
:

This gives the rate

1,

or 800 per cent.

The Deception.

This
the

habit of representing

as a

fraction of all the value created, conceals the essence

of

capital,

i.e.

exchange
ii8

of

vc

for

labour-

THE STUDENTS' MARX.

119

power, and the shutting out of the labourer from

the product.

Formula. ,, (i) = value of tabour-porver V

(iii)
, -^

The
'^;

rate of
(iii).
\
/

may

be expressed
is

'.dL n.l.

"". = """''' labour paid

This last

only a
</

popular form of
power.

The

capitalist

pays for labour-

He receives the
n.l.t.

usufruct of that labour-power

during the
the
s.l.t.

(for

which he has paid) and during

paid).
is

(for

which he has not

Capital

Capital.
labour. labour.

not only the

It is essentially the

command over command over unpaid

PART VI.WAGES.
CHAPTER XIX. The
Power, INTO Wages.
"

Transformation of the

Value, and therefore the Price of Labour-

Price of Labour."

On the surface, the wage of the

it is

labourer appears to be that which

price of labour.

not

viz.,

the

It is really the price of labour-power.

The Real Position. What the capitalist meets on the market is not labour, but the labourer. The
latter sells his labour-power.
it is "

When his

labour begins,

no longer

his.

Value of Labour." The expression, " the value labour,'' is a purely imaginary one as imaginary

of as

the value of the earth.

It is as different

from the

value of labour-power, as the work done by a machine

is

from the machine

itself

Wage Form.
its

The value of labour-power determines

its price,

the value of labour, determines

determines

wage.

But

this

of the division of

wage form extinguishes all trace ac into n.l.t. and s.l.t, into paid and
This
"

unpaid labour.

All labour appears to be paid.

phenomenal form,
things,
is

wages," concealing the reality cf

all

the basis of (a)

the juridical notions of


THE STUDENTS' MARX.
labourer and capitalist;
capitalistic
(&) all

the mystifications of
illusions

production;

(c)

all

as
(cZ)

to
all

the the

liberty

of this

method

of production;

apologies of the vulgar economists.

Money. ~hi the payment of wages, money functions

as a

means
is

of

payment

(function

4, p. 30).

Use-Value.
cures

The

use- value that the capitalist seits

not the labour-power of the labourer, but

function some particular kind of labour.

But

at the

same

time, this labour

is

abstract labour as well, and

creates value.

The
ac = 12

Labourer.

The
;

labourer

always, assuming

hours, gives 12 hours of labour.

The value

of his labour-power

may vary
its

with the value of the

means

of subsistence

price

may

vary with the

in

conditions of dema.nd and supply.

Every change

the amount of the equivalent that he may receive as wage is, to bim, a change in the value or price of 12
hours' work.

The Capitalist.
in the
difference

The

capitalist is only interested

between the price of the labourits

power he buys and the value which

labour

function

creates.

Deceptive Phenomena.

Two great
of

classes of phe-

nomena

in the actual
it is

movement

wages keep up the

paid for by
of

delusion that

not the value of labour-power, but

the value of
wages,
(a)

its

function

labourthat

is

The change of wages with the length

THE STUDENTS' MARX.

the working-day
;

(b) the

individual difference in the

same work. As to a, we might as well hold that the value of the working of a machine, and not the value of the machine, is paid for, because it costs more to hire it for a week than a daj'-. As to h, under slavery the same difference is
wages
of different labourers doing the

found, but does not deceive us.

it is

And under

slavery,

clearly labour-power that

is sold.

CHAPTER XX.- Time-Wages.

Many Forms.
two fundamental ones,
to be considered.

Wages take many forms. Only the time-wage and piece-wage,

the converted form value
of labour-power presents

Tiine-Wages.

Time-wages are
the

under which
itself.

Nominal and Real

tinction

Wages.

The
life

laws given in

Chapter XVII. are also the laws of wages.

The

dis-

between the exchange-value of labour-power,

into which this

and the sum of the necessaries of

value
is

converted, appears as the distinction between

nominal and real wages.

Unit
Measure.
is

The
of

unit

measure

for

time-

wages

the

price

the working-hour.

This

is

of labour -power Tvorking:day qf a given numLer of hours.

ihe daily valut

Laws.

Given

the quantity

of, say,

weekly labour,

the weekly wages depend on the price of labour.

Given the price

of labour, the

weekly wages depend

loses all
i.e.

on the quantity of the weekly labour. Wages by the Hour.The unit -,/:X^,,
meaning
as soon as the

denominator
123

is

indefinite,

as soon as the working-day ceases to contain a definite

124

TBE STUDENTS' MARX.

number of hours. The labourer is more than ever at the mercy of the capitalist under this vicious arrangement.
Overtime.

When the price of labour, reckoned

as
is

per
the

working-hour

above,

remaining
its

constant,

working-day
yet really

prolonged beyond

usual length,

the price of labour

fall.

may

be nominally constant and

The habit of " overtime,'' with a little This extra pay, has grown up in -certain industries, extra pay includes unpaid labour, just as the price of
the customary hours includes unpaid labour.

Low

Wages.

The

longer the working-day in any

branch of industry, the lower the wages.

The lowness

of the price of labour acts as a stimulus to the exten-

sion of the labour-time.

And

the extension of the lait.

bour-time reacts upon the price of labour, and lowers

Com/petition.

Competition
price

enables the capitalist to beat

among down the

labour

the

labourers

price of labour,

and the

falling

of

enables

him

to

lengthen the working-time.

Then follows competition among the capitalists. To undersell one another, they leave out from the price of the commodity the unpaid part of the labourprice, making a present of this to the buyer. Next, they leave out from the price of the commodity part of the abnormal surplus-value created by the extension of the working-day. Hence an abnormally low sellingprice of the commodity, basis of a

which henceforward

is

the

low wage

for

an excessive working-time.

CHAPTER XXL Piece- Wages.

Piece- Wages.

These

are only a modified form of

time-wages, just as time-wages are oaly a modified

form

of the price of labour-power.

The modification
to the capi-

of form does not alter the essential nature of wages,

although this form

talist

is

more favourable

than the other.

Measurements.

If

= 100

per

cent.,

we may

say

under piece-work, that each individual piece is half paid and half unpaid for. The working-time the labourer has expended is now measured by the number of
pieces he has produced.
1. The quality of the labour is conby the work itself, which must be of average Hence piece-wages are a fruitful source perfection.

Peculiarities.

trolled

of capitalistic cheating.
2.

They

furnish
i.

the

capitalist

with

an

exact

measure for
3.

Superintendence of labour becomes in great part

superfluous.

Domestic industry

is

favoured.
in.

The

middleman and the contractor-labourer come

4.

As

it is

to the interest of the labourer to strain

is

his utmost, i

increased.
J2S

126

THE STUDENTS' MARX.

There
is

5.

a tendency to raise individual wages

above the average, but to lower the average.

competition.

The

week's wage will vary with the individual, and there

is

This does not, however, alter the

general relations between capital and labour.

The

individual differences balance in the workshop as a

whole, and the proportion between wages and surplus-value remains unaltered.
6.

Piece-wage

is

one of the

chief

supports

of

working odd hours. Where General. In

the

workshops under

the

Factory Acts, piece-wages become general, because under the Factory Acts capital can only increase the
efficacy of the

working-day by increasing

i.

Variation.

Piece-wages

vary inversely as
fall

proof

ductiveness of labour.

They

as the

number

pieces produced in a given time rises,

and

as the

work-

ing-time spent on each piece

i'alls.

CHAPTER XXII.National
Wages.
Factors.
all

Difference of

In comparing wages

in different nations,

the factors determining changes in the value of

;

labour-power must be considered

price of the

means

of subsistence, cost of training labourer,

women and

child-labour, p,

I,

and

i.

The average day-wage for the same trades in countries must be reduced to a uniform working-day. And piece-wage must be reduced to
different

time-wage.

Average

i.

The

average intensity of labour varies

in different lands.
scale

These national averages form a

is

whose unit

the average unit of universal

labour.

National
velops, so do

p and p and

i. i.

As

capitalistic production de-

Hence

in the

more developed
This does not

country the nominal wages are higher. say that the real wages are higher.

In England, wages are higher to the labourer, but really lower to the capitalist, than on the Continent.

127

PART VII.THE ACCUMULA.TION OF

CAPITAL.

First Steps.

The

first

step

is

the conversion of a

sum of money into mp and labour-power. The second step, the process of production, is complete when mp has been turned into commodities
containing surplus-value.

Circulation

of Capital.

These

commodities are

thrown money, this money again turned

The Capitalist Producer.
senting

into circulation, sold, their value realised as into capital.

To

simplify matters, the

is

industrial capitalist, the producer,

taken as repre-

not only himself, but

all

who

share the

surplus-value
etc.

among them

as rent, interest, profits,

128

CHAPTER XXIII. Simple

Production and Reproduction.
cess of production
is,

Reproduction'.

Every

social pro-

at the

same

time, a process o

The conditions of both are the same and involve the replacing of mp by an equal quantity
reproduction.

of mp.

And

as production

is

with us

capitalistic, so

also is reproduction.

Simple Reproduction.
place -when

Simple reproduction takes

is

is

a constant, and

spent or conit is

sumed by
this

the capitalist as regularly as

gained.

Production of vc.

The labourer not

wages are

only produces

(at present,

under simple reproduction, to be

to come.

consumed by fund out of which

It
is

the capitalist), but he produces vc, the

his

His labour

of last year pays for his labour-power of this year.

the labourer's
is

own

labour, realised in a product^

capitalist.

which

advanced to him by the

Capital
Vanishes.

Original

The

value

of

the

capital advanced, say 1,000, divided

ally

by A M annuconsumed, say 200, = the number of years (five

as

in this case) in which the original capital vanishes.

When,
capital
is

must be sooner or
129

later,

the original

consumed, the value of the capital thereI

I30

THE STUDENTS' MARX.

hand
is

after in

only surplus-value that has been

therefore, sooner or later turns
capital.

appropriated for nothing.

Mere reproduction,
all capital into

accumulated or surplus-value

Even on the assumption that the was acquired by the personal labour
sooner or later this vanishes and
result of unpaid labour.
is

original capital

of the capitalist,

replaced

by

the

The Labourer and his Product.

of capitalistic, production

The starting-point
la-

the

separation of the

bourer from the product of his labour

renewed.

is

renewed and

The product

ceaselessly becomes, not only

a commodity, but capital

means
the
is

of subsistence that

buy, means of production that command, the labourer.

Consumption.

When
the

labour

consumes

the

means
Cp.

of subsistence, that

individual consumption
lives.

43).

By

this,

labourer

When

the

labourer consumes

mp

and turns them into com-

modities with a higher value than that of the capital

advanced, that
the capitalist

is

productive consumption.

By

this,

lives.

Individual

Consumption.

Even

the individual

consumption of the labourer

the means of subsistence into
exploited

is

but the conversion of

to be

new labour-power,

by the

capitalist.

It is a factor of the pro-

duction and reproduction of capital.

Accumulated

SJcill.

The
it

reproduction

of

the

working-elass carries with

the accumulation of

THE STUDENTS' MARX.

skill

131

handed down from one generation

to another.

This the capitalist looks upon as his property.

Swrnmary.
labour

Capitalistic production reproduces the

separation between labour-power and the means of

;

reproduces the conditions necessary for the

;

exploitation of the labourer

relation.

reproduces the capitalist

CHAPTER XXIV. Conversion

Value
(s)

of Surplus-

INTO Capital (C).

SECTION

PRODUCTION ON A PROGRESTRANSITION OF THE LAWS OF PROPERTY THAT CHARACTERISE PRODUCTION OF COMMODITIES INTO LAWS OF CAPI1.

CAPITALIST

SIVELY INCREASING SCALE.

TALIST APPROPRIATION.

Accumulation of
Surplus-Product.
ence can be

Capital.
is

The

employment
capital.

of

surplus-value as capital

accumulation of

Only mp and means

of subsist-

tui-ned into capital.

Therefore part of the

surplus-labour must have been spent in producing

more means
additional

of production

and subsistence than were

required to replace the capital advanced.

And

these

means
or
s

will require additional labour.

Progressive Accumulation.
gets

10,000
is
still

C, say,

be-

of,

say, 2,000.

This 2,000 at the

etc.

same rate begets 400.

all

This 400, 20;

And

the time the original capital

reproducing

itself

and producing

s.

132

THE STUDENTS' MARX.

The Labourer.

133

The labourer, by the surplus-labour

The ownership
of past unpaid

of one year, creates the vc that will employ additional

labour the next year.

labour
is

the one condition for the appropriation of

present unpaid labour, and that on a constantly increasing scale.

Property.

Property
to

becomes

the

right

of

the

capitalist to appropriate

the unpaid labour of the

its

labourer,

and

appropriate

product.

The

la-

bourer cannot even appropriate his

own

product.

SECTION

2.

ERRONEOUS

ECONOMY OF

CONCEPTION BY POLITICAL REPRODUCTION ON A PROGRES-

SIVELY INCREASING SCALE.

Revenue.

Revenue, in

the restricted sense,

is

is

the

portion of the surplus-value that

that
is

not capitalised,

expended in commodities to be consumed by

is

the capitalist himself, or expended in labour that

bought for the satisfaction of the

quirements.
Political

capitalist's

own

re-

Economy

Right.

Political

Economy

is

right in holding that the consumption of surplus-pro-

ducts by productive, as distinct from unproductive

labour,
is

a feature of accumulation.

Political Economy

Wrong.

But Political Economy

134

THE STUDENTS' MARX.

it

is

wrong when

holds that

all

surplus-value that
s,

is

changed into capital becomes

into cc

vc.

like C, is divided

(mp) and vc (labour-power).

SECTION

3.

SEPARATION

OF

INTO

C AND EEVENaE.

THE ABSTINENCE THEORY.

Revenue and Accumulation.In Chapter XXIII. was treated only as a fund for the individual concapitalist

sumption of the

(revenue).

In Chapter

XXIV., thus
Conflict.

far, s

has been treated only as a fund

Actually
s is
is

for accumulation.

both.

At

first,

avarice

the ruling passion

with the

capitalist.

Then

lust of

luxury comes

in.

Between these two, a conflict. Malthus Division of Labour. " Accumulate, acNow as to classical economy, cumulate," is the word the labourer is only a machine for creating s, so to

is

classical

economy the

capitalist

only a machine

for accumulation.

Therefore
industrial

Malthus, about 1820,

capitalist

suggested that the

all

should do
sharers
all

the

accumulating,

and

the
etc.)

other

in

surplus-value (the landlords,

spending.

should do

the

Abstinence.
capital
as

Senior was

the

first to

substitute for

an instrument of production, the word

" abstinence."

THE STUDENTS' MARX.

SKOTION
4.

135

INDEPENDENTLY OF THE PROPORTIONAL DIVISION OF SURPLUSVALUE INTO CAPITAL AND REVENUE, DETERMINE
THAT,

CIRCUMSTANCES

THE AMOUNT OF ACCUMULATION.

EXPLOITATION

DEGREE OF PRODUCTIVITY OF LABOUR. GROWING DIFFERENCE IN AMOUNT BETWEEN CAPITAL EMPLOYED AND CAPITAL CONSUMED. MAGNITUDE OF CAPITAL
OF

LABOUR-POWER.

ADVANCED.

Magnitude of s. If the proportion in which s breaks up into revenue (see p. 183) and capital (to be
re-employed in production)
is

given, the magnitude of

s.

the latter depends upon the absolute magnitude of

Hence the circumstances that determine this last, determine the amount of accumulation. The 1. Degree of Exploitation of Labour-Power.

first

of these circumstances

is

the degree of exploitathe investigation,

tion of labour-power.
it

Thus

far, in

has been assumed that the wages paid are equal to

Actually, however, there

the value of labour-power.

is

often forcible reduction of wages below this value,

this transforms

and

more or

less

of the labourer's

necessary consumption fund into a fund for accumulation of capital.

Tendency of Capital.
1790 (about) to 1810,

The

constant tendency of

capital is to force the cost of labour

e.g.,

down.

From

the English farmers and

136

THE STUDENTS' MARX.

landlords paid the agricultural labourers less than the

minimum

of

wage

in the
relief.

form of wages, and made up

the rest in parish

Branches of Industry.

Marx
capital,

then shows how, in

every branch of industry,

of wealth

having laid hold of

the land and labour-power

the two primary creators acquires a power of expansion that allows

itself,

augmentation of accumulation beyond the limits apparently fixed by the magnitude of the capital
or

by the value and mass of the mp employed. This first in relation to industry generally. is shown Additional labour can augment s, without a corresponding augmentation of cc. Then it is shown
especially in
relation
to

the

extractive industries,

agriculture, manufactures.
S.

Degree of p.

As the
any

productivity of labour inincreases.

creases, the

mass of the surplus-product

falling off in the

Thus, the consumption of the capitalist (revenue)

increase without

may

cumulation.

Or, if his

amount of acconsumption remains what it

to accumulation.

was, with the cheapening of commodities, part of

what was revenue can go

with the increased

Further,

p and the cheapening of comlabour-power cheapens, modities, the commodity and the rate of s rises. The same vo now sets in motion

more labour-power the same cc is embodied in more mp. Accelerated accumulation even with the same C
;

takes place.

THE STUDENTS' MARX.

Reaction on
the

137

Original Capital.

The

develop-

ment

of

reacts on the original capital already func-

tioning in the process of production.

struments of
tive form.

For the old inlabour are reproduced in a more producscience gives capital a further

And

power
c.

of expansion independently of the magnitude of

So that the transmitted value

creases with that increase of p.

of

cc (see p. 49) in-

Appearances and
nising of

Realities.

Apparently
capital.

this eteris
it

a constantly increasing

capital-value
Really,

due to some intrinsic property of

is

due

to

a property of labour-power, just as the

force

real

productive

of

social

labour

(p,

70)

is

apparently an
as the
is

inherent

property of

capital,

and

apparent constant self-expansion of capital

really a constant appropriation of surplus-labour

capitalist.

by the
3.

Difference

between

Capital

Employed

and

Consumed.
capital
creases.

As

the accumulation of capital goes on,

the difference between the capital employed and the

actually

consumed
in the

in

given

time

in-

Now,

struments of

same proportion that the inlabour are wholly employed in forming

products, but are only in part consumed, in that same

proportion they are giving gratuitous service, like a

natural force (steam,
lation.
4..

air, etc.),

and are aiding accumumagnitude of C deter-

Magnitude of

C.

The

138

THE STUDENTS' MARX.

vc,

mines the magnitude of

therefore the magnitude

of labour-power employed, therefore the

amount

of s

produced, therefore the amount of the value-increase

to be divided into revenue

and accumulated

capital.

SECTION

The

THE SO-CAILED LABOUK-FTJND. Labour-Fund. The economists have always

5.

loved to conceive social capital as a fixed magnitude.

Especially

Bentham and

his followers hold that the

total quantity of vc is a fixed magnitude,

and

this

fabled magnitude they call the labour-fund.

Anstuers.

(1)

The

limits to the

consumption on
the capitalistic

the part of the labourer laid

down by
under

system
divides
capital
;

are

only

" natural "

that system

(2) the net product goes to the capitalist, and he

it

at will

into

revenue and accumulation"

(3) vc,

and therefore the

labour-fund,"
is

is

variable fraction of social C, and that

a variable

fraction of the social wealth, itself a variable quantity.

CHAPTER XXV. The General Law

TALisT Accumulation.

of Capi-

SECTION

1.

THE

INCREASED DEMAND FOE LABOUR-

POWER THAT ACCOMPANIES ACCUMULATION, THE

COMPOSITION OF CAPITAL REMAINING THE SAME.

The Labourers.

In

this

chapter the influence of

the growth bf capital on the lot of the labouring

class is considered.

The most important

factor is the

composition of capital.

The CoTTiposition of Capital.

power).

This

may

be looked"^
labour-

at from the point of view of material

(mp and

Or
tion,

it

may
is

be looked at from the point of view of^

cc).

value (vc and

and

the

And one now

this gives its value-composi-

to be considered. of

Total Social Capital.

The average composition

the

many

individual capitals in a particular branch

of production gives the composition of the total capital in that branch.

The average of these averages in all branches of production gives the composition of the total social capital of a country. And this last is now considered.
139

140

THE STUDENTS' MARX.

Increase of the Proletariat.

also

Growth

of

C means
and

growth of

vc.

If,

therefore, the composition of

capital remains constant, the

demand

for labour

the subsistence fund of the labourers grow with the

gi'owth of C.

Accumulation of

C means

increase of

the proletariat.

ditions of

Condition of the Proletariat. Under the conaccumulation thus far considered, those
to

most favourable

the labourer, the

is

relation

of

dependence upon capital

endurable, and only bethese conditions, a

comes more extensive.

Under

larger portion of his surplus-product returns to the

labourer as a means of payment.

But nevertheless
ac-

the exploitation remains.

Two
1.

Gases.

rise

in

wages resulting from

cumulation of

C means

one of two consequences.

That the
it

rise in the price of labour continues

because

does not interfere with the process of ac-

cumulation.

In this

case,

an excess

of capital

makes

the exploitable labour-power insufficient.

2.

Or accumulation

slackens in consequence of the

rise in the price of labour,

is

because the stimulus of gain

of the slackening of

blunted.

The primary cause

i.e.

accumulation,

the disproportion between

C and

the
fall

labour-power exploitable, vanishes, and wages

again.

In

this case a diminution of capital

makes

the exploitable labour-power in excess.

The Succession.

The

absolute

movements of the

THE STUDENTS' MARX.

accumulation of capital come
first,

141

and are followed

by and

reflected in the relative movements of the mass of exploitable labour-power. Law. The real law of capitalistic production that underlies the pretended "natural law of population,"

is,

that the correlation between accumulation of

rate of

and

wages

is

the correlation between the un-

paid labour turned into capital, and the additional

paid labour necessary to work this
relation, indeed,

new

capital.

between the unpaid and the paid

Maintained.

labour of the same labouring population.

The System

Still

The very nature of

the process of accumulation of capital excludes every

diminution in the degree of exploitation, and every

rise

in

wages that threatens the reproduction on a

scale of the capitalistic relation.

growing
SECTION

2. RELATIVE DIMINUTION OF THE VAEIABLE PART OF CAPITAL SIMULTANEOUSLY WITH THE PROGRESS OF ACCUMULATION AND OF THE CONCENTRATION THAT ACCOMPANIES IT.

p.

The

general basis

of

the capitalistic system

a

given, in the course of accumulation there comes

point at which the development of

becomes the

most important factor in accumulation.

The degree
of irvp

of

is

expressed in the relative extent

that one labourer, in a given time, with a

(i),

given intensity of labour-power,

turns into pro-

142

THE STUDENTS' MARX.

It is expressed, therefore, in the

ducts.

diminution of

the mass of labour in proportion to the mass of

mp

moved by
The

it.

Consequence

and

Condition.
of

mp

play two parts.

follows

increase of
is

some

them that
of

creased p,
material.

a consequence of the latter,

others

upon inraw e.g.

The increase

may

be a conse-

quence of increased f, but is also a necessary condition of the latter, e.g. machinery.
Technical

and Vcdue Composition.

This
(p.

change
139)
is

in the technical

composition of capital

reflected in the value or organic composition: cc in-

creases

and vc diminishes.

change reflected in

its

turn in the price of commodities.

relative

For in

these, the

magnitude of the element of price represent-

ing the value of Tnp or cc varies directly.

The

relative

magnitude

of the element of price that pays labour-

power or vc varies inversely

capital.

as the accumulation of

Further Point.
of the
crease.

Further,

not only does the mass

mp

consumed by more productive labour inTheir value, as compared with their mass,

diminishes.

Relative

and

Absolute.

Although
vc,

accumulation

lessens the relative

magnitude of

there

may

yet be

rise in the absolute

magnitude, with a

rise in the

amount

of C.

Primitive Accumulation.'On the basis of capital-

THE STUDENTS' MARX.

istic

143

production, co-operation can only take place on a

by increase of individual capitals, by mp and the means of subsistence becoming private property. A certain amount of accumulation of C in the
large scale

hands of individuals
capitalistic

is

the necessary preliminary to

(p.

production

39).

And

this

is

called

primitive accumulation, and will be considered in the

next chapter.
Converse.

Primitive
mode
of

accumulation

is

the necessary

preliminary of capitalist production.

Capitalist pro-

duction, conversely, causes accelerated accumulation.

And
with

the

production

and
vc,

accumulation
as compared

both cause the relative lessening of

CG.

Concentration.

At

first,

the

number

of individual

capitalists grows.

This

is

concentration of capital.
of social wealth.

It

is

limited

by the amount
capitalists.

And

it

leads to an antagonism in given spheres of production

between the
italist

Centralisation.

Hence
:

the expropriation of cap-

by

capitalist, the

swallowing up of the small

centralisation of capital.

capitalist

by the large
later.

Laws.

The laws of
(1)

centralisation of capital are to

be developed

In this place only three things

are pointed out.

The

battle of competition rages

round the cheapening of commodities. This cheapness depends on p, and p depends on the scale of proThe large capitalist can produce on a larger duction.

144

THE,

STUDENTS' MAliX.
(2)

scale

than the small.

The minimum amount

credit system.

of

individual

rises.

(3)

The

Converse.

With accumulation, centralisation grows.

Conversely, centralisation helps accumulation.

Revolution in Production.
gets
all

The

capitalist

method
it
;

conquers branches of industry not yet under

bein

new

ones

increases

in the old ones.

And

ways the number of labourers portion to the mp they work upon.

three

falls in

pro-

SECTION

3.

PROGRESSIVE

PRODUCTION OF A RELATIVE

SURPLUS POPULATION OR INDUSTRIAL RESERVE ARMY.

Quantity and Quality.
is

Accumulation
But a

of capital
qualitative
vc.

at first a quantitative extension.

follows,

change

and

cc increases at

the expense of

And

this at a greater rate

than that of accumulation.

Increasing accumulation and centralisation cause a

more accelerated with cc.

diminution

of

vo

as

compared
accumula-

Surplus Population.

Hence

capitalistic

tion itself produces a surplus-labour po23ulation.

all

In
con-

spheres of production the decrease of vc

is

nected with production of surplus population.

of capital, the very
latively surplus.

So
re-

that the labourer produces, along with accumulation

means by which he becomes

Converse.

And this surplus population, conversely,

THE STUDENTS MARX.

becomes a new lever for accumulation.
of

145

The movement

modern industry depends upon the transformation

of part of the labouring population into a reserve

army.
Increase of
tively)
vc.

Even

if

vc absolutely (not relaof labourers

increases, the
if

number

employed

may
The

fall,

the individual

labourer

yields

more

labour.

Army and

its Reserve.

The over-work of the

army

of employed condemns the reserve to an en-

forced idleness.

reserve regulates wages.

The expansion and contraction of tiie In stagnation and average

times, the reserve weighs

down

the array

in over-

production times, the reserve holds the pretensions of

the

army

in check.

SECTION

4.

DIFFERENT

FOEMS

OF

THE

RELATIVE

SURPLUS POPULATION. THE GENERAL LAW OF CAPITALISTIC ACCUMULATION.

Forms.
crises
;

The acute
-In

formation of a reserve army in

the chronic formation of a reserve

army

in

dull times.

And, apart from these, the

the centres of

floating, the

latent, the stagnant forms.

Floating.

modern industry the

falls,

number

of labourers

employed

or

if it

increases
floating

absolutely,

decreases

relatively.

Hence a

surplus population.

In the automatic factories, boys can work until they K

146

THE STUDENTS' MARX.

grown

up. Then they fall out and enter the ranks of the floating surplus population.

are

Latent.

The

agricultural population constantly on

the point of becoming the town proletariat.

Stagnant.

Those

having irregular
it is

employment;
forthcoming,

maximum of working-time when and minimum wage.

Paupers.
surplus
classes,"

The

lowest

sediment of the
of

relative

population,

exclusive

the

"

dangerous

makes up the paupers.

(1)
(2)

Of
to

these, there are

three categories.

Those able

work, but having

nothing to
(3)

Orphans and pauper children. Those physically unable to work. Law. The general law of capitalistic accumulation
do.

is

that the greater the social wealth, the greater the

industrial reserve army.

More and more

less

mp

can be set in motion by

:

less

and

labour-power.
is

Inverted form

the higher p, the

more precarious

the condition of the labourer.

As

accumulates, misery accumulates.

5.

SECTION

ILLUSTRATIONS

OF THE GENERAL LAW OF

CAPITALISTIC ACCUMULATION.
(a)

England from 1846

to 1866.

Statistics.

This

series of statistics

invaluable section is devoted to a taken from Inland Revenue, Census,

all

Blue-Book, and other Reports,

in proof

of the

general law given in the preceding paragraph.

The

THE STUDENTS' MARX.

statistics

147

are so conclusive,
chief of

moment, that the

and the law is them will be given

of such

in brief

here without note or comment.

Relative Decrease of English Population

shown

by

the steady decline of the yearly absolute increase.

1811-1821

1-533 per cent.

1821-1831


148

THE STUDENTS' MARX.

Coal
1855
61,453,079 tons
92,787,873

(3)

worth 16,113,167.

1864
(4) Pig-iron

23,197,968.

1855

3,218,154 tons; worth 8,045,385.

4,767,951

1864
(5) Railroads

11,919,877.

1855

Length 8,054

mis.; captl., 286,068,794.

1864
(6)

12,789

425,719,613,

Exports

THE STUDENTS' MARX.

there
is

149

no perceptible advance in the comfort enclasses."

joyed by the industrial

Pawperism
1855
.

15

THE STUDENTS' MARX.

little

than one-third with too

shire,

nitrogen food.

In Berk-

Oxford, Somersetshire, insufficiency of nitrogen

food, the average diet.

tion of the

Housing of the Poor. The greater the centralisameans of production, the greater the
In 1801, there were

crowding of the labourers, the worse their dwellings,

the higher relatively their rent.

only five towns in England with more than 50,000

inhabitants.

In
for

1867,

there

were
ten

twenty-eight.

Hence, between 1847 and 1864, the frightened middleclass pass,

self-preservation,

sanitary acts.
is

London, Newcastle-on-Tyne, Bradford, Bristol succession from worse to bad.

the

(c) The nomad population. Nomdds. Originally agricultural, now in great part industrial, working at lime-burning, railwaymaking, etc., the light infantry of capital, hurled by

it

now on

this point,

now on

that.

flying

column
in hut-

of

pestilence, either

camping or vegetating

barracks built by the railway contractor, and charged

for at the rate of

from one

shilling to four shillings a

week.
Goal Miners.

Marx then gives a description of the

the miners.

terrible house conditions of

For these

fearful details the i-eader is referred to pp. 683-685 of

" Capital."

{d) Effects of crisis

on the best paid part of the

working-class.

7HE STUDENTS' MARX.

Crisis

151

of 1866. From

pp.

686-689,

quotations
to

are given from the

London newspapers of 1866

show the awful

condition of things

among even
London and

the

skilled mechanics at the east-end of

after the

failures of Overend, Gurney,

crisis in

and

others,

after the

the iron ship-building trade.

Belgium.

As Belgium

is

often quoted as the paragives the following com-

dise of " free labour,"

Marx

parative figures.

Normal Belgian working-family

yearly wage
.
.

1,068 francs.
1,112

A prisoner's food A soldier's A sailor's

(e)

costs yearl3'

,,
.

1,473 1,828

The

British agricultural proletariat.

The Law Again.

17^0-1808.

As English agriculture progresses,

agriculture in England dates
fell

the English agricultural labourer retrogresses.

Modern

from about 1740.

25 per cent.

Between 1737 and 1747 wages

In 1771 the agricultural labourer was

Yet, in 1 7 7 1

worse

off

than in the fourteenth century.

he was better off than he has ever been

in 1797, 65
I8I4.

since.

Thus, his

average wage, expressed in pints of wheat, was, in 1771,

90 pints

in 1808, 60.

1795 and
total
deficit

In Northamptonshire, in 1795, the

18s.
;

income of a family of six was 29

the

made good by

the parish

(p. 136),

14s. 5d.

152

THE STUDENTS' MARX.

total

In 1814 the

income of a family of
risen

five

was

36 18
fallen.

2s.

the

deficit

made good by the

;

parish,

6s.

4d,

Nominal wage had

real

wage
the
ears.

Corn-Law Agitation.

The

bourgeois

and

landed proprietors were at this time by the

The former exposed the conditions

labourer;
factory operatives.

of the agricultural

the latter exposed the conditions of the

Repeal.

The
etc.

repeal

great stimulus to

Corn-Laws gave a Improved agricultural industry.

of

the

drainage, stall-feeding, manuring, treatment of

soils,

use of steam,

Centralisation.
acres fell
fell

In

1851-1871,
;

farms

under

20

in
;

number 900
farms
300-500
;

farms from 50-75 acres

all
;

1,883

under 100 acres

acres
I'ose

fell.

But
from

farms from

C39

farms
90.

500-1,000 rose 1,159

farms over 1,000 rose

Area and Labourers.

creased,

Area

under cultivation
acres.

in-

between 1846 and 1856, by 464,119

of labourers

Number
78,179.

between 1851 and 1861

fell

Conclusion.

So

that,

with extension and intension

capital

of culture, accumulation of

incorporated in

the

soil,

increase of products, of rents, of profits, there

was depopulation.
Criminals.

According

to the

Report of the ComPenal Servitude,

missioners on Transportation and

THE STUDENTS' MARX.

153

prisoners are better nourished than, and only do half

as

much work
Table.

as,

the agricultural labourer.

in ounces.
.

Weekly nutriment
Working coachmaker
Sailor

Convict
Soldier

.... ....
.
. . . .

Compositor

Agricultural labourer
Dwellings.

190'82 187-06 183-69 143-98 125-16 139-08

facts

Pp.

701-718 are taken up with

and

figures

showing the miserable and

terrible con-

ditions of the dwellings of the agricultural labourer.

Here only one or two general points can be noted,

but the reader
of
"
is

urged to look through these pages

stimulus and inspiration.

Capital
is

" for

There

no law compelling the farmer to build

labourers' dwellings.

Between 1851 and 1861, the agricultural population grew oj per cent. the houseroom for them fell 4^ per
;

cent.

The labourer
to his work.

often has to

walk

six or eight miles

The

close

villages

owned by one

or

two larger

laodlords give rise to the open villages

owned by

many

small landlords, and the haunt of the building

speculator.

The Nuisances Removal Acts

are administered

by

the very proprietors of these dens.

154

THE STUDENTS' MARX.

Example.

An

5,375
by
;

cottages

of

agricultural la-

bourers were visited

Dr. Hunter.

2,195 of

them

had only one bedroom 254 more than two.

Countries.

2,930 only

two bedrooms
given of places

Special
Essex,

details

are

in Bedfordshire, Berkshire, Buckinghamshire,

bridgeshire,

Cam-

Herefordshire, Huntingdonshire,

Lincolnshire,

Kent,

Northamptonshire,

Wiltshire,

Worcestershire.

Relative

and Surplus Population.

Emigration

to

towns, centi-alisation of farms, turning of arable into

pasture-land, introduction of machinery, formation of
relative surplus population, all

go hand in hand.

And

yet the land, in spite of

tion, is

its

relative surplus populais

is

under-manned.

This

seen locally where the

efflux of

men

into the towns

most marked and,

e.g.,

temporarily at harvest time.

There are always too

many agricultural labourers

for the extraordinary
soil.

for the ordinary

needs of the cultivation of the

local deficiency of

too few

Gang System.

This temporary or

labour leads to the employment of

women and children, and such amenities as the gang system of the eastern The gang consists of from 10 to 50 women, counties.
young persons
(generally females only), children
of

both sexes, headed by the gang-master.

cruiting sergeant,
is

He

is

the re-

paid contract piece-work wage

by

the farmer, and exploits his gang.

From

six to eight

TliE

STUDENTS' MARX.

155

miles daily,

months in the year the gang marches five to seven is overworked, and morally ruined. The arexists for the benefit of the large

rangement

farmer

and the landlord.

(/) Ireland.

Po'pulation

1841 1851 1861

1866

Emigration

.... .... .... ....

(14, years),
.

8,222,664.
6,623,985.

5,850,309.

5,500,000 (about)

1851-1865

1,591,487.

1861-1865 (4 of the
Houses.

14),

500,000 (about)
fell

The number of inhabited houses

30 acres increased 61,000;

from

1851-1861 by 62,990.
Centralisation.
of 15 to

In the same ten years, the holdings

those of over

30 acres increased 109,000; whilst the total number of

farms

fell 120,000.

Tables.

Five tables are then given, which prove, in

They
;

respect to Ireland, the general law of capitalistic ac-

cumulation.

are,

(A) live stock

;

(B) cultivated
de-

land, 1861-1865
tail,

(C) a similar table,

much more in
;

1864 and 1865 (D) income tax returns (a steady rise, with one very slight fall in 1864) (E) income from profits in 1864 and 1865.
for

Surplus-Produce.

Centralisation

and the turning

156

THE STUDENTS' MARX.

mean a
The
larger quantity,
total

of arable into pasture-land

relatively, of surplus-produce.

produce deit

creased, but the surplus-produce fraction of

actually

increased in Ireland from 1860 to 1865.

And

the

money-value of
Emigration.
enormous.

it

also rose.

The

amount

of emigration has been

And

yet the relative surplus population

;

remains as large as ever

wages do not

rise

oppression

and misery do not

lessen.

The advance

of agriculture

has atoned for the emigration.

Linen Manufacture.

The

one great industry of

Ireland (linen manufacture) employs few adult

men
It

and only a few people altogether.

lative surplus population within its

It

produces a resphere.

own

begets domestic industries

(p. 97).

Wages.

There has been an apparent

But a
the

rise,

from 1849

to 1869, of 50 to 60 per cent.

price
of

real fall, as the

means of subsistence has more than

Ireland.

doubled in the time.

England and

England
army
is

is

an industrial
from

country, and the industrial

recruits itself

the country districts.

Ireland

an agricultural

country, and the agricultural

itself

reserve

army

recruits

from the towns, to which the expelled agricultural labourers have fled.

PART YIILTHE SO-CALLED PRIMITIVE ACCUMULATION.

CHAPTER XXVI.The
1 he Circle To-day.

Secret of Primitive

Accumulation.

Money becomes
;

capital.

Capi-

tal begets surplus-value.

Surplus-value begets capital.

Tracing
supposes

it

backwards, accumulation of capital presurplus-value

surplus-value
;

presupposes

capitalistic production

capitalistic

production presup-

poses primitive accumulation (the previous accumulation of

Adam

Smith).

The Economists.
other class lazy

The

political

economists preach

the pretty fable of the one class diligent and the

;

the reward of the one in having

capital, of the other in

having nothing.

With them

everything
thing
force.

is idyllic.

The Truth.
is

The

truth

is

that historically every-

conquest,

brutality,

robbery
is

^in

a word,

Primitive accumulation

the separation
of production.

by

force of the producer from the

means

Evolution of the

Wage-Labourer.
157

structure of capitalistic society has

The economic grown out of the

158

THE STUDENTS' MARX.

The
labourer,

economic structure of feudal society.

to be "free,"
soil,

had

(1)

to cease to be attached to the

;

to cease to be a serf

(2)
;

under the rule of the guilds

of the

he had to cease to be (3) he had to be robbed

means of production. The Capitalist. The industrial capitalist, on his part, had (1) to fight the feudal lord (2) to fight the guilds (3) to rob the labourer of the means of pro-

duction.

Bate.

The

transformation of feudal exploitation

into capitalistic exploitation begins, here

and

there,

in

certain of the

Mediterranean towns, as early as

Formally, the

the fourteenth or fifteenth century.

capitalistic era dates

from the sixteenth century.

Basis.

The basis of the whole process of primitive

is

accumulation

the expropriation of the agricultural

labourer from that means of production upon which

he works

viz.

the

soil.

CHAPTER XXVII.Expropriation

of the Agri-

cultural Population from the Land.

Fourteenth

and Fifteenth

Centuries.

By the end of
The

the fourteenth century, serfdom had vanished.

mass of the population were

free peasant-proprietors.

What

wage-labourers there were consisted of peasants

in their leisure time

working

on the large

estates,

and
less,

a very few actual wage-labourers, who, none the

owned four
they, like

acres of land at least

all

the

rest,

and a cottage, whilst owned the common lands, feedetc.,

ing cattle on them, taking wood, turf,

from them.

The Prelude.

The

prelude to the revolution that

capitalist mode of proThe breaking up of the
rise to

laid the foundation of the

duction covers 1460-1510.

bands of feudal retainers gave

letariat.

the

first

pro-

The feudal

lords drove the peasants

from

the land and stole the

common

lands.

Arable land

was turned
1.^9.

into pasture.
set in against

Legislation

this revolution.

An
all

Act of Henry VII., 1489, forbade the destruction of " houses of husbandry " with twenty acres of land
This was renewed by an Act, 1534, in
159

attached.

Henry

V Ill's, time.

i6o

THE STUDENTS' MARX.

1533.

The

Act of 1533 states tHat some owners

2,000.

have 24,000 sheep, and limits the number to

But

all

the legislation

and the cry of the people dur-

ing 150 years against the expropriation of the small

farmers and the peasants was of no avail.

Tlie

Four

Acres.

Efforts were

made

to retain the

four acres of land around the cottage of the agricultural wage-labourer.

Thus, in 1627, Roger Crocker

was condemned for having built upon manor a cottage minus the four acres of land. In 1G38, a Royal Commission was appointed to enof Front Mill
his

force the old laws,

and

especiallj" the four acres one.

And, in the time of Cromwell, the building of a house within four miles of London, minus the four acres,

was forbidden.
The Reformation.

Economically, the Reformation

the Church, the driving out of hereditary sub-tenants, the centralis-

was

spoliation of the property of

ing of their holdings, the confiscation of the guaranteed property of the poor in the tithes of the Church.

Poor-Rate. In. the year 1601, the forty-third

the reign of Elizabeth, the
duced.
first

of

poor-rate

was

intro-

In the year 1641, the sixteenth of the reign

I,

of Charles

this poor-rate

and held

until, in

the year 1834,

was declared perpetual, it was replaced by

a harsher law.

Yeomanry.
sants or

In

1690-1700, the independent peain

yeomanry were more

number than

the

THE STUDENTS' MARX.

farmers.

i6l

the last trace of the

labourer was gone.

By 1780 they had common

vanished, and

by 1800

land of the agricultural

The

Mestoration.

Economically,
;
;

the Restoration

was the

carrying, by legal means, of abolition of the

feudal tenure of land

indemnification of the State by

vindication of
in estates that

taxes levied on the labourers

rights of

the

modern private property

bad

only been held under feudal tenure.

The

Revolution.

Economically,
any
and

the
legal

Revolution

was The

theft of State lands without

ceremony

spoliation of the Church,

this theft of State

lands, founded the English oligarchy of to-day.

capitalists helped, as

The

they wanted (1) free trade in land; (2) the extension of modern agriculture; (3)

more

" free " agricultural labourers.

Advance of Civilisation. The communal lands, with the turning

ture,

forcible

theft

of

of arable to pas-

began at the end of

the sixteenth
it.

the fifteenth

and ran
opitself

into

century.

And

legislation

posed

But

in the seventeenth the

law

did

the thieving from the people.

The parliamentary

form of

this particular theft is Acts for the enclosure

of commons.

1801-1831. Between the years 1801 and 1831, 3,511,770 acres of common land were stolen from the people by the landlords, without any compensation.
Clearing of Estates.

The

final process

of expro-

152

THE STUDENTS' MARX.

is

priating the agricultural labourer from the soil

the

clearing of estates, seen at its worst in the Highlands.

The

chiefs of the clans (the Argyles

and the Suther-

lands) transformed their nominal rights into rights of

private property, and drove their clansmen out

by

main

force.

The Gaels were even

forbidden, in the

eighteenth century, to emigrate.

Thus,

they were

forced into the ranks of the industrial population of

the towns.

The Duchess of Sutherland.

the Duchess of Sutherland.
this

A typical example

is

woman

drove out,

Between 1814 and 1820 literallj'' by fire and sword,

stolen

15,000 of her clan, and stole 794,000 acres of land to

make

a sheep-walk.

The

land she divided

into twenty-nine sheep-farms, looked after by twenty-

nine families, mostly English.

Later, the sheep-walks

were
"

replaced
"

by

deer-preserves.

At

first,

she

allowed

her clansmen 6,000 waste acres on the

seashoi-e that

bad thus far brought in no income.

But, as her clansmen began
she let the seashore to the Billingsgate
"

Rent,

2s. 6d. fish,

per acre.

to catch

fishmongers, and " cleared

her estates

finally.

Suminary.

The spoliation of the Church property

common
lands, the

under the Reformation, the abolition of feudal tenure

under the Restoration, the theft of State lands under

the Revolution, the theft of the
clearing of estates, are the
chief phases in primitive

accumulation.

CHAPTER XXVIII.Bloody

Legislation Against THE EXPEOPRIATED, FEOM THE EnD OF THE FIFTEENTH Century. Forcing Down of Wages by Acts of Parliament.

Vagabonds.

The
Nor

" free

''

proletariat could not be

it

absorbed by the nascent manufacture as rapidly as

was

set free.

could

it

at once

and

easily

change

its old habits.

Hence, at the end of the fifteenth and

through the sixteenth century, vagabonds and laws

against vagabonds.

Laws.

Marx then gives the

details of the

infamous

and imprisonments and brandings and iron-rings and hangings, in England and abroad (pp. 758-761). Nowadays these laws are
laws, with their whippings

not needed, because a working-class has been evolved

that,

by

education,

tradition, habit, looks

"

upon the

present conditions of production as

laws of nature."

Wage- Labour
tome of the

Legislation.

He

then gives an epi-

laws from

1349-1813, regulating the

the

maximum
rate,

of wage, but never

minimum.

In

1794 an attempt was made to

but
it failed.

legalise the

minimum
as the

In 1813 the laws for regulation of

wage were repealed.

They were not wanted,

163

i64

THE STUDENTS' MARX.

capitalist could regulate

them by

his private legisla-

tion in his
Contract.

own

factory.

In the

breaking of contracts only

civil

action can be brought against the master, but criminal action against the man.

Trade Unions.

The barbarous

laws against Trade

Unions
nised.

fell

in part in 1825, in part again in 1869,

and

on June

29, 1871,

Trade Unions were legally recog-

CHAPTER XXIX. Genesis

Fahmer.
Stages.

of the Capitalist

farmer, provided

and

tools,

The bailiff, himself a serf; (2) the by the landlord with seed, cattle, exploiting some wage-labour (3) the half
(1)
;

farmer,

who advances

part of the stock-in-trade, the

landlord advancing the other, the total product divided

between them in pre-fixed proportion

proper,
labour,

(4) the

farmer

making his capital breed by employing wage and paying part of the surplus-product as rent. Common Lands. The usurpation of the common lands enabled him to augment his stock, and yielded

him more manure.

Fall in Value of Gold.
precious metals
in

The
etc.,

fall in

the value of the

the sixteenth century lowered

rose
;

wages.

The

price of corn,

rents (calculated

on the old value of money) fell. Middlemen. The lion's share always falls to the Examples financiers, merchants, shopmiddleman.

keepers, lawyers, M.P.'s, priests.

les

CHAPTER XXX.

Reaction of the Agricultural Revolution on Industry. Creation of the Home Market for Industrial Capital.

Means of Subsistence and mp.

agricultural population
is

When a part of
"free," their
vc.

the
of

set

means
So

subsistence are also set free, and become

also

the raw materials, dependent upon

are set free, and become
cc.

home

agriculture,

lb

(p.

41) and

3 are

no longer means

of independent existence for labour,

it.

but a means of commanding

Home

Market. Further, this

expropriation of the

agricultural labourer not only sets free,

and

at the

disposal of the industrial capitalist, the labourers, their

means
but
it

of subsistence,
creates the

and the raw material they used,

ence and the

raw

home market. The means of subsistmaterial they used have now become

commodities.

Separation between Agriculture and Manufacture.

With

the expropriation and the separation of the

expropriated from

mp, rural domestic industry

in.

is

destroyed, and the process of separation between agri-

culture and manufacture sets

This

is

not comindustries

plete under manufacture, as the

i6$

men and

THE STUDENTS' MARX.

got rid of in one form turn up again in lessened
bers
is

167

nume.g.,

and worse conditions

in another.

England,

at one time a corn cultivator, at another a cattle

and thus the extent of peasant cultivation varies. But modern industry replaced handicrafts and domestic industries by machinery, and the lasting
breeder,
basis of capitalistic agriculture completes the separation.

CHAPTER XXXI. Genesis

Mediceval Capital.

of the Industrial

Capitalist.

The

middle ages handed down

two

distinct forms of capital

usurer's and merchant's.

S3'stem
;

These were hindered from turning into industrial

capital, in the country,

by the feudal

in the

town, by the guilds.

These hindrances vanish with

the vanishing of the feudal system.

Momenta of Primitive Accumulation.

of primitive accumulation
is

The essence

the separation of the

labourer from

mp

and from the product he produces,

given by the discovery

To

this process,

momentum was

of gold

and

silver in

America, the extirpation or en-

slavement of the American aborigines, the looting of

East India, the slave trade of Africa, the European

commercial wars.
Countries.
land,

Spain, Portugal, Holland, France,

Englands.

were the chief primitive accumulation

In England, by 1800, there was a systematic combinasystem, dependent on tion, including the colonial
brute force
;

the national debt, taxation, protection,

force.

dependent on State

East India Company.

The

monopolies

of this

THE STUDENTS' MARX.

169

Company

led to primitive accumulation

on a giant

scale, often

without the advance of a shilling.

Colonies.

The

treatment and exploitation of the

aborigines were worst in plantation colonies, such as

the West Indies, intended for export trade only, and

in rich countries, such as India, given over to plunder.

But the

Puritans,

e.g.,

were not
the

far

behind in the good

work, even in the colonies proper.

Holland.

Holland,

first

country to develop
its

the colonial system, was, in 1640, at

of

greatest height
its

commercial greatness.

And

in

1648,

people

were more overworked and oppressed and poorer

than those of the rest of Europe.

National Debt.

The system of
it

public credit,

i.e.

of

national debts, originating in Venice and Genoa in the

middle ages, became general under manufacture.

colonial system forced
on,

The

and

it first

took root in

Holland.

It

is

one of the most powerful levers of

primitive accumulation, as investment of

this

money under

system involves no trouble and no

risk.

International Credit.
to Holland the
lation.

Venice, in

her decay, lends

materials for her primitive accumu-

Holland, in turn, to England, and England to

the United States.

Taxation.

The

modern system

of

taxation

was

the necessary complement to a national debt, the

interest of

which must be met out of the public

v^er-taxation helps in the forcible expro-

revenue.

I70

THE STUDENTS' MARX.

Indeed, the part

priation of the lower middle-class.

played in this expropriation by the national debt and

the
fiscal

system of to-day has misled Cobbett and

see

others

to

in

this

the primary and

not the

secondary cause of misery.

Protection.
ficial

The system of
of

protection

was an

arti-

means

manufacturing manufacturers, of excapitalising the

propriating individual labourers, of

national

means of production and subsistence, of hurrying on the transition from the mediaeval to the capitalist method of production.
Liverpool.

Liverpool's
;

method

of

primitive ac-

cumulation was the slave trade.

ployed, in this trade, 15 ships
;

In 1730 she em;

in 1751, 53

in 1760,

74

in 1770, 96

in 1792, 132.

CHAPTEE XXXILHistorical

Tendency

of

Capitalistic Accumulation.

The Futv/re.

This chapter

will

be to many, especi-

ally to the hopeful, of the

highest interest.

The

same inexorable logic and the same scientific calm with which the analysis of value, of labour-power, of
capital, of accumulation,

has been conducted, are here

brought to bear upon the question of the next stage

in economic evolution.

And
it is

this is not

a question of

what we hope may be says must be.

Private Property.
the labour of
its

a question of what history

property, based upon

Private

owner, self-earned private property,

has been replaced by capitalistic private property,

based on the labour of others than the owner of the

property.

And

this will give

way

to individual pro-

perty based on the acquisitions of the capitalist era,

based on co-operation and the possession in com-

mon

of the land

and of mp.

Petty Industry.

The

first

form of private prothis is the foundation

perty implied the private property of the labourer in

his

means
all

of production ;

and
171

of

small industry, agricultural, manufacturing, or

172

THE STUDENTS' MARX.

This form excludes the concentration of Tnp,

both.

co-operation, division of labour within each separate

process of

production, the productive application of

natural forces

by

society,

and the

free

development of
certain stage

the productive powers of society.

of
its

At a

development this petty industry brings forth

its

the material agencies for

Capitalistic.

own

destruction.

Under

petty industry', the labourer

working for himself was expropriated.

industry,

Under modern
others
will

the capitalist

exploiting

be

expropriated.
Causes.

The

causes of this inevitable result are

(1) Centralisa-

immanent
tion

in capitalistic production. in

of capital
;

few hands

(2)

socialisation
;

of
in-

labour
crease

(3)

internationalisation of capital
;

(4)

of
;

misery

(5)

class

consciousness

of

the

workers

(6) their revolt.

Differences.

The

earlier transformation of scattered

private property, arising from individual labour, into

capitalistic private property,

was a very

protracted,

violent, difficult expropriation of the

many by

the few.

The coming transformation

of capitalistic private

property, based on socialised production, into socialised

propert)^ will be the less protracted, less violent, less

difficult

expropriation of the few by the many.

CHAPTER XXXIII.The Modern Theory

Colonisation.

of

Colonies.

In

Western Europe, we have a readyIn the

colonies, the capitalist
collision

made world
producer,
himself.

of capital.

rdgime comes into

with the resistance of the

who

prefers employing his labour-power for

Hence, in the colonies, the political econoviz.

:

mist proclaims that which he denies in Europe,

that capitalistic production
propriation of the labourer.
Wakefield's Discoveries.
"
is

impossible without ex-

Mr. E. G. Wakefield, in his

(1) that as
(i.e.

England and America," 1833, discovers

long as the labourer can accumulate for himself

as

long as he owns mp), capitalistic accumulation and production are impossible;

the bulk of the
soil is

(2)

that in free colonies, where

public property, expropriation

of the labourer from the

istic

accumulation
is

(3) that not only

soil cannot occur, and capitaland production are impossible no surplus-labour population prois

duced, but the wage-labourer himself

not repro-

duced, as he

is

constantly transformed into an inde;

pendent producer
is

(4) that the degree of exploitation

is

very low, and the labourer

173

very independent

174

THE STUDENTS' MARX.

supply of wage-labour
" of
is

(5) that the

neither constant,

regular, nor sufficient; (6) that there is a "barbarising

producers and products. His Schefne. His "systematic colonisation" scheme was to put by Government an artificial price upon the virgin soil, so that the immigrant must work a

tendency of dispersion

long time as a wage-labourer

the fund thus raised to

to take the

be used to import
place of

new wage-labourers

any fortunate enough

to save the value of the

prohibitory price of a piece of land.

result of this plan, enforced by Act was the turning of the stream of emigration away from the English colonies to the United States. But the scheme was soon superfluous. In

Results.

The

of Parliament,

America, Australia, everywhere, the centralisation of

capital, national debts, taxes, speculation, exploitation

are in full swing,

and the

"

reserve

army " has

formed.

The import

of this glance at the colonies is that

there the political economist

discovers

the law he

cannot see at work here

that the

capitalist

mode

of

production and accumulation, and, therefore, capitalist

private property, are based upon the annihilation of
self-earned private property,

upon the expropriation

of the labourer.

Works quoted.

The

list

of books, reports, journals,

quoted from by Marx in

" Capital," is

352 in number.

THE END.

INDEX.
ah c, 54. Absolute Surplus-Value, 68, 107.
Abstinence, 134. Abstract and Concrete,
4, 9.

Accumulation
139.

of Capital, 128, 132,

Capital, General Formula of, 32. Capitalist, 40, 54, 67, 77, 80, 82, 101, 121, 129, 158. Capitalist Production, 1, 131, 132. Capitalistic Character of Manufacture, 77. Capitalistic Circulation, 32.

Carbon and Nitrogen,

149.

Agriculture, 105, 106. Agriculture and Manufacture, 166. Agricultural Labourers, 149, 151154, 159. Aim of Capitalist, 34, 44. Aristotle, 9.

Centralisation, 143, 148. Changes of Magnitude in Price of

Labour-Power, 111.
Chartist Movement, 62. Children's Employment Commission, 57, 97.

B.
be.

Circulating Circulation

Medium,
of

29.

Commodities, 23,

^., 54.

26, 32-34. Civilisation, 161,

Barter, 26.

Clearing of Estates, 161.

163.

Belgium, 151.

Bloody Legislation, Boyard, 56.

Bullion, 30.

Coins, 27. Collective Labour-Power, 70, 75,

107.

Buying and
Power,
38.

Selling

of

Labour-

Colonies, 169, 173. Colonisation, Theory

of, 173.

Commerce, 32. Commodities and Money,

1.

C.

Commodities, Circulation
26, 32-34.

of, 23,

C,

32, 51.

cc, 50.

Commodities, Petishism of, 14. Commodities and Producers, 15.

C-c + v, 51. C cc + vc, 51. C M C 25.

I

Commodity,

1.

Capital, 32, 49, 119, 128, 129, 132, 135, 139.

Lands, 165. Compensation, Theory of, 91. Competition, 124. Composition of Capital, 139.

Common

176

INDEX.
Expropriation, 159. Extractive Industry,

Concentration of Capital, 143. Concrete and Abstract, 4, 9. Condition of Workers, 57. Constant Capital, 49-50.

41.'

Consumption,

42, 130.

F.
Factors of a Labour-Process, 41. Factory, 80, 87. Factory Acts, 58, 59, 98, 105. Factory Acts Extension Act, 102. Factory Extension Act, 103. Family, 102.

Contradictions in the General For

mula

Conversion of

of Capital, 35. s into C, 132.

Co-operation, 70. Co-operation, Gains from, 71.

Corn Laws,
Corvee, 56.

60, 152.
95.

Cotton Famine,

Farmer

Capitalist, 165.
14.

Creation of Value, 46,

Crises, 94. Cru.soe, 16. Currency of Money, 27. Cycle, Industrial, 95.

Fawcett, 148. Fetishism of Commodities,

Fixed Capital,

50.

Form

Forms

of Value, 6. of Manufacture, 74.

D.
A M.,
34. 57.

Formulae for Value, 118.

Rate

of

Surplus-

Four Acres,

160.
39.

Day and Mght Work,

Detail Labourer, 73. Deterioration, 58. Division of Labour, 73.

Free Labourer, Future, 171.

a
Gains from Co-operation, 71. Gains from Division of Labour, 73. Gang System, 154. General Form of Value, 11. General Formula of Capital, 32. General Lavr of Capitalistic Accumulation, 139, 141, 146. Genesis of Capitalist Farmer, 165. Genesis of Industrial Capitalist, 168 Gladstone, 148. Gold, 13, 14, 30, 31, 165. Grand Industry, 79. Greed for Surplus-Labour, 56.

Domestic Industries, 97. Duchess of Sutherland, 162.

B.
East India Company,
168.

Economic Structure Economy, 70, 116.

of Society, 19.

Economists, Errors of, 18. Education Clauses, 101. Effect of Machinery, 79. Effect of Machinery ou Workman,
82.

Elementary Form of Value, 6. English Labour Statutes, 58. Equivalent Form, 6, 8. Essentials to Capitalistic Production, 39.

H.
Heterogeneous Manufacture, Highlands, 102. Hoarding, 29.
Holland, 158, 159. Home Market, 166.
74.

Exchange, 20. Exchange- Value,

2, 3, 6.

Expanded Form

of Value, 10.

INDEX.
Horner, Leonard, 62,
86.

177

Mass

of Surplus- Value, 66.

Housiug

of the Poor, 150, 153.

I.

M-C-

Ml, 32.

i.,

107.

Means of Payment, 30, 131. Means of Production, 42. Means of Subsistence, 40, 112. Measure of Value, 2, 23.

Individual Consumption, 42, 130. Industrial Capitali.st, 168. Industrial Cycle, 95.
Intensification of Labour, 95.

M edijeval Capital,
Medium
25.

168.

of Circulation, 25. Mercantilists, 109. Metamorphoses of Commodities,

International Credit, 159. Inspectors, 105. Ireland, 155.

Middle Ages, 16. Middlemen, 165.

Mill, 91, 110.

Mining Industry,
I.,

104,

107.
5.

Labour, 5, 7, 41. Labour, skilled and unskilled,

Modern Industry, 79. Modern Industry and Agriculture,

106.

Labour and Work, 5, 44. Labour-Fund, 138. Labour-Power, 7, 38, 39. Labour-Power, Buying and Selling
of, 38.

Money,

13, 21, 23, 28, 121. 25.

of, 21.

Money Form, 14, Money of account,

Mortality, 83.

Money, Use- Values

Motor,
79.

Labour-Power, Collective, 70, Labour- Power, Value of, 39.

Labour-Process, 41. Labourer, 39, 46, 47, 49, 54, 58-65,
70, 73-78, 83, 89, 106, 133, 157.

Movement
m-p, 42, 46.

of

Gold and

Silver, 31.

N.
n.l.t., 52.

Labourer to Capitalist, 54. Last Hour, 53. Law of Capitalistic Accumulation,

139, 141, 146.

Leonard Homer, 62, 86. Limits of Working-Day,

Liverpool, 170.

54.

Nassau, Senior, 53, 134. National Debt, 169, National Difference of Wages, 127. Necessary Labour-Time, 52. Night Labour, 57.

M.
M.,

o.
Object of Capitalist, 34, 44. Overtime, 124.

M and m,
Machine,
79.

34.

29, 38. 79.

Machinery and Modern Industry,

Machinery, Value of, 80. Malthus, 134. Manufacture, 73. Manufacture and Machinery,
P., 3. p., 107, 141.

Patriarchial Family, 16.

89.

Paupers, 146.

178

INDEX.
Reaction of English Factory Acts on otiier Countries, 64. Reformation, 160. E,egulation of Hours of Labour,
100.

Petty Industry, 171.

Phenomenal Form, Piece- Wages, 125.

Poles,
6.

8.

Poor-Rate, 160. Precious Metals, 2)

Price,
2.3.

Relative Form, 6, 7. Relative Surplus-Value, 68.

Price-Form, 14. " Price of Labour," 20. Primitive Accumulation, 142, 157 Private Property, 171. Producers and Commodities, 15. Product, 42. Production of Absolute Surplus Value, 41, 44. Production of Absolute and P>,elative Surplus-Value, 107. Production of Relative SurplusValue, 68. Production of vc. 129. Productive Consumption, 42. Productiveness of Labour, 3, 108. Productiveness of Machine, 81.
,

Relay System,
Religion, 17.

57, 60.

Reproduction, 129. Repulsion and Attraction of W^orkmen, 94. Reserve Army, 145.
Restoration, 161.

Revenue, 133.
Revolution, 161. Revolution effected by Modern Industry, 96. Ricardo, 109, 112, 113, 116. Robinson Crusoe, 16.

S.
51, 118. s.l.t., 52.
.,

Profits, 110, 113.

Progressive Accumulation, 132.

Proletariat, 140.

'^,
83.

51, 118.
66.

Prolongation of Working-Day, Property, 133, 171.

Protection, 170.

S = Pm X i^, S = VC X
;-;,

66.

i, 51, 118.

Q.
Q., 2, 3.

Sanitary Clauses, 101. Secret of Primitive Accumulation,

157.

Q = |
Q=|,
144.

27. 27.

Senior, Nassau, 53, 134. Serial Manufacture, 74. Shifting System, 62.
Silver, 30, 31.
1, 4, 7,

Qualitative Unit, 7. Quality and Quantity,

70,

Simple Reproduction, Skilled Labour, 5, 47.

129.
of, 19.

R.
Rate Rate
Surplus-Value, 51, 66. of Surplus-Value, Pormulffi for, 118. Material, 41.
of

Society, Economic Structure Source of A M., 35.

Spare Time, 117. Stages of Co-operation, Standard of Price, 23.

72.

Raw

Statistics, 146, Statute of Elizabeth, 59.

INDEX.
Statute of Labourers, 58, 59.
Strife

179

between Machine, 89.

Workman

and

Universal Equivalent, 12. Universal Money, 30. Unskilled Labour, 5, 47, 75.
are, 87.

for Normal WorkingBay, 58, 59. Supplementary Labour- Power,83.

Struggle

Use- Value, Use- Values

2.

of

Money,

21.

Surplus-Labour, 56, Surplus-Labour Population,

144.

85,

Surplus-Labour Time, 52. Surplus-Produce, 52, 132. Surplus-Value, 34, 44-47, 51, 68. Surplus- Value, Absolute and Relative, 68, 107.

V.
v., 51.

Surplus- Value, Kate

of, 51.

Symbols, 28. Synthesis and Analysis,

73.

V and P, 3. V and Q, 2. V oc Q, 3. V "^ i, 3, 7.

^~ =

p, 3.
51.

V = cc-^tJC-l-s, V = P?i, 66.

vc, 50.

Table of Factors of Labour-Process, 43.

Vagabonds,
Value,
2.

163.
6.

Table of Stages of Co-operation.

72.

Value-Eorm,

" Value of Labour," 120.

Taxation, 169. Technology, 102.

Value

of

Labour-Power,

39.

Tendency of Capital, 135, 171. Ten Hours' Bill, 60. Theory of Compensation, 91.
Theory of Colonisation, 173. Three Values, 1. Time- Wages, 123. Total and Transmitted Value, Trade Unions, 164.

Value of Machinery, 80. Value, Total and Transmitted, 81. Value Transferred by Machinery,
80.

Values,

1.

Values of Labour-Power,
Variable Capital, 49,
81.

46.

50.

Transference of Value, 46 80. Transformation of into C, 32. Transformation of Value of Labour-

W.
Wage-Form,
Wages,
120.

Power
Twofold

Wages, 120. Value of Labour Embodied in Commodities, 4.

into

Wage-Labourer,

Wage-Labour
120.
1.

157. Legislation, 163.

Wakefield, 173.

u.
Unit
in Political

Wealth,

Work,
Economy,
1.

41.

Work and

Labour,

5, 44.

i8o

INDEX.
yB)
103.

Working-Day, 54. Workshops' Regulation Act,

zC
etc.

>
)

eaoh^xA,

11.

xA = yB,

6.

xA=yB = zC = etc.,

Yeomanry,
10.

160.

Young

Persons, 59.

Printed by Cowan &=

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Limited, Perth.

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Modern Humanists.

M. Robertson.

" Mr. Robertson's style is excellent nay, even brilliant-and his purely literary criticisms bear the mark of much acumen." Tioi^a.
.86.

Outlooks from the

Daily

"Mr. Bax

is

New Standpoint. a very acute and accomplished student

E. Belfop.t Bax.
of history

and economics."

Chronicle.

87. Distributing Co-Operacive Societies.

Dr. Luigi Fizzamiglio.

F.

Edited by J. Snell.

"Dr. Fizzamiglio has gathered together and grouped a wide array of facts and and tliey speak for themselves." 6jit;aier. By A. Nacquet. Edited by W. Heaj-ord. 38. Collectivism and Socialism. " An admirable cnticism by a well-known FiBnch politician nf the New Socialism" -Dailv Chronicle. of Marx and La^i^alle
statistics,


B9. 40.

SOCIAL SCIENCE SERIES {Continued).

Anti-Jacobin.

The London Programme.

" Brimful of excellent iJeas."

Sidney Webb.'-LL.Bi.

The Modern State.

Paul Leboy BEAULiEr.

book; well worth a place
in

"A
41. 42.
' '

most

interesting-

the library of every

8oci:ii)

inquirer." iV. B. Ecmomist. The Condition of Labour.

Henry

Georg>.-

Written with striking ability, ^nd sure to attract attention. "

Newcastle Chronicl'-

The Revolutionary Spirit preceding the French Revolution. Felix Rocquain. With a Preface by Professor Htjxley.

"The student of the French Revolution will find in it an excellent introduction to* the study of that catastrophe." Scotsman. Edward Aveling, D.So, The Student's Marx. " One of the most practically useful of any in the Series." Glasgow Herald. 44. A Short History of Parliament. B. C. Skottowe, M.A. (Oxon.). " Deals very carefully and completely with this aide of constitutional history."
43. Spectator.
45. 46.

Poverty:
"
"

He An

Its Genesis and Exo'^us. states the problems with great force

J.

G. Godabd.

and clearness."

N. B. Economist.

The Trade Policy of Imperial Federation. The Dawn of Radicalism. " Forms an admirable picture
J.

Maurice H. Hervey.

interesting contribution to the discussion." Pw6iisAers' Circidar.

47.

Bowles Daly, LL.D.

political-

of

an epoch more pregnant, perhaps, with

48.

instruction than any other in the world's history." Daily Telegra-fih. The Destitute Alien in Great Britain. Arnold White; Montague
;
;

49.

Illegitimacy

THORPE, Q.O. W. A. M'Arthur, M.P. "Muc:h valuable information concerning a burning question of the day." Tiines. and the Influence of Seasons on Conduct. Albert Leffingwi.ll, M.D. "We have not often seen a work based on statistics which is more contiuuously
Westminster Review.

CrackanW. H. Wilkins, &c.

interesting."

60.

Commercial Crises of the Nineteenth Century. " One of the best and most permanently useful volumes
Opinion.

H. M. Htndbian.
of

the

S&rie?!.." LUerary-

51.

The State and Pensions in Old Age.

"

J.

A.

Spender and Arthur Acland.M-P.

John M. Robertson.

careful

and cautious examination of the question." Times.

62.

The Fallacy of Saving,

"

plea for the reorganisation of our social and industrial system." Speaker. 53. The Irish Peasant. Anon. "A real contribution to the Irish Problem by a close, patient and dispassionatfr investigator." Do ily Chronicle, 64. The Effects of Machinery on Wages. Prof. J. S. Nicholson, D,So. "Ably reasoned, clearly stated, impartially written." Literary World. 55. The Social Horizon. Anon. really admirable little book, bright, clear, and unconventional." Daily *'

Chronicle.

66,

Socialism, Utopian and Scientific. Frederick Engels. "Tlie body of the book is still fresh and striking." Daily Chronicle. 57. Land Nationalisation, A. R. Wallace. " The most instructive and convincing of the popular works on the subject."

58.

59.

60.

and Interest. Rev. W. Blissard. "The work is marked by genuine ability." iforiA BHlish Agriculturalist. The Emancipation of Women. Adele Crepaz. " By far the most comprehensive, luminous, and penetrating work on this question that I have yet met v/ith." Extract fr-om Mr. Gladstone's Preface. The Eight Hours' Question. John M. Robertson "A very cogent and sustained argument on what is at present the unpopular
side."

National Reforiner. The Ethic of Usury

Times.

61.

Drunkenness. " Well written,

National Observer.

George E. Wilson, M.B.

carefully reasoned, free from cant,

and

full of

sound sense."

62.

The New Reformation.

"

Ramsden Balmforth.
how
best to realize the personal

63.

and social ideal." WestminsieiThe Agricultural Labourer.

striking presentation of the nascent religion, Review.

T. E. Kebbel.
;

"A
64.
..

short

summary

of his position, with appendices on v^ages, education, allot:

ments,
.

etc., etc."

Ferdinand Lassalle as a Social Keformer.

^-^..u ^H^.^^ ^^
i

E. Bernstein.
;

h^

sn.-.,..l

Rci^nce Series. "-JTorf ft British Economist.