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«Part II: The Transformation of Money in Capital Ch. 4: The General Formula for Capital Ch. 5: Contradictions in the General Formula of Capital Ch. 6: ...»

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[52] John Stuart Mill, in his "Principles of Political Economy," says: "The really exhausting and the really repulsive labours instead of being better paid than others, are almost invariably paid the worst of all.... The more revolting the occupation, the more certain it is to receive the minimum of remuneration.... The hardships and the earnings, instead of being directly proportional, as in any just arrangements of society they would be, are generally in an inverse ratio to one another." To avoid misunderstanding, let me say that although men like John Stuart Mill are to blame for the contradiction between their traditional economic dogmas and their modem tendencies, it would be very wrong to class them with the herd of vulgar economic apologists.

[53] H. Fawcett, Professor of Political Economy at Cambridge. "The Economic position of the British labourer." London, 1865, p. 120.

[54] I must here remind the reader that the categories, "variable and constant capital," were first used by me. Political Economy since the time of Adam Smith has confusedly mixed up the essential distinctions involved in these categories, with the mere formal differences, arising out of the process of circulation, of fixed and circulating capital. For further details on this point, see Book II., Part II.

[55] Fawcett, l. c., pp. 122, 123.

[56] It might be said that not only capital, but also labourers, in the shape of emigrants, are annually exported from England. In the text, however, there is no question of the peculium of the emigrants, who are in great part not labourers. The sons of farmers make up a great part of them. The additional capital annually transported abroad to be put out at interest is in much greater proportion to the annual accumulation than the yearly emigration is to the yearly increase of population.

Transcribed by Zodiac Html Markup by Stephen Baird (1999) Next: Chapter Twenty-Five: The General Law of Capitalist Accumulation Capital Volume One- Index Karl Marx Capital Volume One

Part VII:

The Accumulation of Capital

CHAPTER TWENTY-FIVE:

THE GENERAL LAW OF CAPITALIST ACCUMULATION

Contents Section 1 - The Increased Demand for Labour-Power that Accompanies Accumulation, the Composition of Capital Remaining the same Section 2 - Relative Diminution of the Variable Part of Capital Simultaneously with the Progress of Accumulation and of the Concentration that Accompanies it Section 3 - Progressive Production of a Relative Surplus-Population or Industrial Reserve Army Section 4 - Different Forms of the Relative Surplus-Population. The General Law of Capitalistic Accumulation Section 5 - Illustrations of the General Law of Capitalist Accumulation A. England from 1846-1866 B. The Badly Paid Strata of the British Industrial Class C. The Nomad Population D. Effect of Crises on the Best Paid Part of the Working-Class E. The British Agricultural Proletariat F. Ireland SECTION 1.

THE INCREASED DEMAND FOR LABOUR-POWER THAT ACCOMPANIES ACCUMULATION, THE

COMPOSITION OF CAPITAL REMAINING THE SAME

In this chapter we consider the influence of the growth of capital on the lot of the labouring class. The most important factor in this inquiry is the composition of capital and the changes it undergoes in the course of the process of accumulation.

The composition of capital is to be understood in a two-fold sense. On the side of value, it is determined by the proportion in which it is divided into constant capital or value of the means of production, and variable capital or value of labour-power, the sum total of wages. On the side of material, as it functions in the process of production, all capital is divided into means of production and living labour-power. This latter composition is determined by the relation between the mass of the means of production employed, on the one hand, and the mass of labour necessary for their employment on the other. I call the former the value-composition, the latter the technical composition of capital.

Between the two there is a strict correlation. To express this, I call the value-composition of capital, in so far as it is determined by its technical composition and mirrors the changes of the latter, the organic composition of capital.

Wherever I refer to the composition of capital, without further qualification, its organic composition is always understood.

The many individual capitals invested in a particular branch of production have, one with another, more or less different compositions. The average of their individual compositions gives us the composition of the total capital in this branch of production. Lastly, the average of these averages, in all branches of production, gives us the composition of the total social capital of a country, and with this alone are we, in the last resort, concerned in the following investigation.

Growth of capital involves growth of its variable constituent or of the part invested in labour-power. A part of the surplus-value turned into additional capital must always be re-transformed into variable capital, or additional labour-fund. If we suppose that, all other circumstances remaining the same, the composition of capital also remains constant (i.e., that a definite mass of means of production constantly needs the same mass of labour-power to set it in motion), then the demand for labour and the subsistence-fund of the labourers clearly increase in the same proportion as the capital, and the more rapidly, the more rapidly the capital increases. Since the capital produces yearly a surplus-value, of which one part is yearly added to the original capital; since this increment itself grows yearly along with the augmentation of the capital already functioning; since lastly, under special stimulus to enrichment, such as the opening of new markets, or of new spheres for the outlay of capital in consequence of newly developed social wants, &c., the scale of accumulation may be suddenly extended, merely by a change in the division of the surplus-value or surplus-product into capital and revenue, the requirements of accumulating capital may exceed the increase of labour-power or of the number of labourers; the demand for labourers may exceed the supply, and, therefore, wages may rise. This must, indeed, ultimately be the case if the conditions supposed above continue. For since in each year more labourers are employed than in its predecessor, sooner or later a point must be reached, at which the requirements of accumulation begin to surpass the customary supply of labour, and, therefore, a rise of wages takes place. A lamentation on this score was heard in England during the whole of the fifteenth, and the first half of the eighteenth centuries. The more or less favourable circumstances in which the wage-working class supports and multiplies itself, in no way alter the fundamental character of capitalist production. As simple reproduction constantly reproduces the capital-relation itself, i.e., the relation of capitalists on the one hand, and wage-workers on the other, so reproduction on a progressive scale, i.e., accumulation, reproduces the capital-relation on a progressive scale, more capitalists or larger capitalists at this pole, more wage-workers at that. The reproduction of a mass of labour-power, which must incessantly re-incorporate itself with capital for that capital's self-expansion; which cannot get free from capital, and whose enslavement to capital is only concealed by the variety of individual capitalists to whom it sells itself, this reproduction of labour-power forms, in fact, an essential of the reproduction of capital itself.





Accumulation of capital is, therefore, increase of the proletariat. [1] Classical economy grasped this fact so thoroughly that Adam Smith, Ricardo, &c., as mentioned earlier, inaccurately identified accumulation with the consumption, by the productive labourers, of all the capitalised, part of the surplus-product, or with its transformation into additional wage-labourers. As early as 1696 John Bellers says: "For if one had a hundred thousand acres of land and as many pounds in money, and as many cattle, without a labourer, what would the rich man be, but a labourer? And as the labourers make men rich, so the more labourers there will be, the more rich men... the labour of the poor being the mines of the rich." [2] So also Bernard de Mandeville at the beginning of the eighteenth century: "It would be easier, where property is well secured, to live without money than without poor; for who would do the work?... As they [the poor] ought to be kept from starving, so they should receive nothing worth saving. If here and there one of the lowest class by uncommon industry, and pinching his belly, lifts himself above the condition he was brought up in, nobody ought to hinder him; nay, it is undeniably the wisest course for every person in the society, and for every private family to be frugal; but it is the interest of all rich nations, that the greatest part of the poor-should almost never be idle, and yet continually spend what they get.... Those that get their living by their daily labour... have nothing to stir them up to be serviceable but their wants which it is prudence to relieve, but folly to cure. The only thing then that can render the labouring man industrious, is a moderate quantity of money, for as too little will, according as his temper is, either dispirit or make him desperate, so too much will make him insolent and lazy.... From what has been said, it is manifest, that, in a free nation, where slaves are not allowed of, the surest wealth consists in a multitude of laborious poor; for besides, that they are the never-failing nursery of fleets and armies, without them there could be no enjoyment, and no product of any country could be valuable. "To make the society" [which of course consists of non-workers] "happy and people easier under the meanest circumstances, it is requisite that great numbers of them should be ignorant as well as poor; knowledge both enlarges and multiplies our desires, and the fewer things a man wishes for, the more easily his necessities may be supplied." [3] What Mandeville, an honest, clear-headed man, had not yet seen, is that the mechanism of the process of accumulation itself increases, along with the capital, the mass of "labouring poor," i.e., the wage-labourers, who turn their labour-power into an increasing power of self-expansion of the growing capital, and even by doing so must eternise their dependent relation on their own product, as personified in the capitalists. In reference to this relation of dependence, Sir F. M. Eden in his "The State of the Poor, an History of the Labouring Classes in England," says, "the natural produce of our soil is certainly not fully adequate to our subsistence; we can neither be clothed, lodged nor fed but in consequence of some previous labour. A portion at least of the society must be indefatigably employed....

There are others who, though they 'neither toil nor spin,' can yet command the produce of industry, but who owe their exemption from labour solely to civilisation and order.... They are peculiarly the creatures of civil institutions, [4] which have recognised that individuals may acquire property by various other means besides the exertion of labour....

Persons of independent fortune... owe their superior advantages by no means to any superior abilities of their own, but almost entirely... to the industry of others. It is not the possession of land, or of money, but the command of labour which distinguishes the opulent from the labouring part of the community.... This [scheme approved by Eden] would give the people of property sufficient (but by no means too much) influence and authority over those who...

work for them; and it would place such labourers, not in an abject or servile condition, but in such a state of easy and liberal dependence as all who know human nature, and its history, will allow to be necessary for their own comfort."



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