Das Kapital

1. Commodities: Labor's Social Mask

A commodity is therefore a mysterious thing, simply because in it the social character of men's labor appears to them as an objective character stamped upon the product of that labor.

Mysterious nature. Commodities, seemingly simple objects, are actually complex social constructs. They mask the human labor that creates them, making it appear as if their value is inherent rather than a result of human effort. This "fetishism of commodities" obscures the true social relations of production.

• Use-value: The practical utility of a commodity.
• Exchange-value: The value of a commodity in relation to other commodities.
• Abstract labor: The common human labor that creates value, regardless of the specific task.

Social relations. The exchange of commodities is not just a transaction between things; it's a reflection of the social relations between people. The market, where commodities are exchanged, becomes the arena where these social relations are expressed, often in distorted and mystified forms. The value of a commodity is determined by the socially necessary labor time required for its production.

Hieroglyphic nature. Commodities act as social hieroglyphs, concealing the true nature of labor and social relations. The value of a commodity is not a natural property but a social construct, a result of the way labor is organized and exchanged in a capitalist society. Understanding this is key to understanding capitalism.

2. Money: The Universal Equivalent

Money is a crystal formed of necessity in the course of the exchanges, whereby different products of labour are practically equated to one another and thus by practice converted into commodities.

Social necessity. Money arises as a social necessity to facilitate the exchange of commodities. It acts as a universal equivalent, a common measure of value that allows for the comparison and exchange of diverse goods. It is not a mere tool but a social relation in itself.

• Measure of value: Money provides a common standard for expressing the value of commodities.
• Standard of price: Money serves as a fixed unit for measuring quantities of value.
• Medium of circulation: Money facilitates the exchange of commodities, acting as an intermediary.

Dual nature. Money has a dual nature: it is both a commodity itself (e.g., gold) and a representation of value. This duality can lead to confusion, as people often mistake the symbol for the thing it represents. The value of money is determined by the labor time required for its production, just like any other commodity.

Magic of money. Money appears to have a magical power, as it can be exchanged for anything. This is because it embodies abstract labor, the common substance of all commodities. The riddle of money is the riddle of commodities, only in its most glaring form.

3. Capital: Value in Motion

The circulation of money as capital is, on the contrary, an end in itself, for the expansion of value takes place only within this constantly renewed movement.

Self-expansion. Capital is not just money; it's money in motion, constantly seeking to expand itself. The goal of capital is not to satisfy needs but to generate more value. This endless pursuit of profit is the driving force of capitalism.

• M-C-M': The general formula for capital, where money (M) is used to buy commodities (C), which are then sold for more money (M').
• Surplus-value: The excess value created by labor that is appropriated by the capitalist.
• Capitalist: The personification of capital, driven by the need for self-expansion.

Labor-power. The key to capital's self-expansion is the purchase of labor-power, a unique commodity that can create more value than it costs. The capitalist buys labor-power to exploit it, extracting surplus-value from the worker's labor. The value of labor-power is determined by the cost of the means of subsistence necessary for the worker's survival and reproduction.

Rational miser. The capitalist is a "rational miser," constantly seeking to increase exchange-value by throwing money into circulation. Unlike the traditional miser who hoards wealth, the capitalist understands that wealth is created through the process of production and exchange.

4. Surplus Value: The Engine of Exploitation

The class struggle is nothing else than the struggle for surplus-product.

Source of profit. Surplus-value is the unpaid labor of the worker, the source of all capitalist profit. It arises from the difference between the value created by labor and the value of labor-power itself. The capitalist buys labor-power at its value but extracts more value from its use.

• Necessary labor: The portion of the working day where the worker produces the value equivalent to their wages.
• Surplus labor: The portion of the working day where the worker produces value that is appropriated by the capitalist.
• Rate of surplus-value: The ratio of surplus-labor to necessary labor, expressing the degree of exploitation.

Class struggle. The struggle for surplus-value is the essence of the class struggle. The capitalist seeks to maximize surplus-value by extending the working day, intensifying labor, and reducing wages, while the worker seeks to resist these forms of exploitation. The ownership of surplus-product is the key to power and control in capitalist society.

Exploitation. The capitalist system is based on the exploitation of labor. The worker is forced to sell their labor-power to the capitalist, who then appropriates the surplus-value created by that labor. This exploitation is not a moral failing but an inherent feature of the capitalist mode of production.

5. The Working Day: A Battleground

Between equal rights force decides.

Contested terrain. The length of the working day is not a natural phenomenon but a battleground between capital and labor. The capitalist seeks to maximize the working day to extract more surplus-value, while the worker seeks to limit it to protect their health and well-being.

• Absolute surplus-value: Surplus-value created by extending the working day.
• Relative surplus-value: Surplus-value created by reducing the necessary labor time through increased productivity.
• Limits of the working day: The working day is limited by physical and social factors, but capital constantly seeks to push these limits.

Capital's greed. Capital has a "werewolf hunger" for surplus-labor, pushing the working day to its absolute limits. It cares nothing for the health or well-being of the worker, only for the extraction of maximum profit. The capitalist views the worker as a mere instrument for the production of value.

Historical struggle. The establishment of a normal working day is the result of centuries of struggle by the working class. Factory Acts and other labor laws are the outcome of this struggle, representing a partial victory for the working class. The fight for a shorter working day is a fight for human dignity and freedom.

6. Machinery: Revolution and Contradiction

Machinery is the most powerful weapon for repressing strikes, those periodical revolts of the working class against the autocracy of capital.

Revolutionary force. Machinery is a revolutionary force that transforms the mode of production, increasing productivity and creating new forms of social organization. It replaces human labor with mechanical power, leading to a massive increase in the production of commodities.

• Technical composition of capital: The ratio of means of production to living labor-power.
• Organic composition of capital: The value composition of capital, reflecting its technical composition.
• Automatic system of machinery: A system where machines perform all the necessary operations without human intervention.

Contradictory nature. Machinery, while increasing productivity, also creates contradictions within capitalism. It displaces workers, leading to unemployment and a "reserve army of labor." It intensifies labor, making work more monotonous and alienating. It also becomes a weapon in the hands of capital to suppress worker resistance.

Capital's tool. Machinery is not a neutral technology but a tool of capital. It is used to increase surplus-value, control labor, and undermine worker power. The capitalist system transforms the means of production into a means of exploitation.

7. Accumulation: Capital's Relentless Drive

To accumulate is to conquer the world of social wealth, to increase the mass of human beings exploited by him, and thus to extend both the direct and the indirect sway of the capitalist.

Endless expansion. Accumulation is the process by which surplus-value is converted back into capital, leading to the endless expansion of the capitalist system. It is the driving force behind the growth of capital and the concentration of wealth.

• Simple reproduction: The mere repetition of the production process on the same scale.
• Accumulation of capital: The conversion of surplus-value into additional capital.
• Concentration of capital: The growth of individual capitals through accumulation.

Capital's logic. The logic of capital is to accumulate for the sake of accumulation. The capitalist is driven by the need to expand their capital, regardless of the social consequences. This relentless drive for profit leads to the exploitation of labor and the destruction of the environment.

Social consequences. Accumulation leads to the concentration of wealth in the hands of a few, while the majority of the population is reduced to wage-laborers. It also leads to the creation of a surplus population, a reserve army of labor that is constantly available for exploitation.

8. Capitalism's Inherent Instability

The life of modern industry becomes a series of periods of moderate activity, prosperity, over-production, crisis and stagnation.

Cyclical nature. Capitalism is inherently unstable, characterized by periodic crises of overproduction. These crises are not accidental but are a necessary consequence of the system's internal contradictions. The drive for profit leads to overproduction, which then leads to market saturation, economic downturns, and unemployment.

• Overproduction: The production of more commodities than can be profitably sold.
• Crisis: A period of economic downturn characterized by falling prices, reduced production, and unemployment.
• Stagnation: A period of slow or no economic growth.

Anarchy of production. The capitalist system is characterized by the anarchy of production, where individual capitalists compete with each other without any overall plan. This lack of coordination leads to imbalances in the economy and periodic crises. The market, instead of being a self-regulating mechanism, is a source of instability.

Contradictions. The contradictions of capitalism are not accidental but are inherent in the system itself. The drive for profit leads to the exploitation of labor, the concentration of wealth, and the destruction of the environment. These contradictions ultimately undermine the stability of the system.

9. The Inevitability of Socialism

The knell of capitalist private property sounds. The expropriators are expropriated.

Historical necessity. Socialism is not a utopian ideal but a historical necessity, the inevitable outcome of the contradictions of capitalism. The capitalist system, by developing the productive forces of society, creates the material conditions for its own overthrow.

• Socialization of the means of production: The transfer of ownership of the means of production from private hands to society as a whole.
• Proletarian revolution: The overthrow of the capitalist class by the working class.
• Planned economy: An economy organized according to a rational plan, rather than the anarchy of the market.

Working-class agency. The working class, by virtue of its position in the capitalist system, is the agent of historical change. It is the class that is exploited by capital and that has the power to overthrow it. The working class, through its struggles, develops the consciousness and organization necessary to create a new society.

Beyond capitalism. Socialism is not just a change in the ownership of property but a fundamental transformation of social relations. It is a society based on cooperation, equality, and the satisfaction of human needs, rather than the pursuit of profit. The transition to socialism is a process of revolutionary change, not a gradual reform.

Last updated: January 22, 2025