wage labour capital

8/13/2019 Wage Labour Capital

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Karl Marx

Wage Labour and CapitalWritten: December 1847;

Source: Wage Labour and Capital, the original 1891 pamphlet;;

Firt !ublihed: "eue #heiniche $eitung, %pril &'8 and 11, 1849;

(rancription)*ar+up: $odiac and rian aggin;

!roo-ed and corrected b. %le+ lain, /00, *ar+ 2arri, /01033


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Introduction to

Karl Marxs

Wage Labour and Capital (Engels)

(hi pamphlet -irt appeared in the -orm o- a erie o- leading article in the Neue Rheinische

Zeitung, beginning on %pril 4th, 18493 (he tet i made up o- -rom lecture deli5ered b. *ar

be-ore the 6erman Wor+ingmen Club o- ruel in 18473 (he erie a ne5er completed3

(he promie to be continued, at the end o- the editorial in "umber /9 o- the nepaper,

remained un-ul-illed in coneuence o- the precipitou e5ent o- that time: the in5aion o-

2ungar. b. the #uianerlohn, ?lber-eld, the !alatinate, and in aden


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the. ma. con5ince themel5e ho greatl. the uneducated or+er, ho can be eail. made to

grap the mot di--icult economic anal.e, ecel our uperciliou cultured -ol+, -or hom uch

tic+lih problem remain inoluble their hole li-e long3

Claical political econom. 1borroed -rom the indutrial practice the current notion o- the

manu-acturer, that he bu. and pa. -or the labour o- hi emplo.ee3 (hi conception had been

uite er5iceable -or the buine purpoe o- the manu-acturer, hi boo++eeping and price

calculation3 ut nai5el. carried o5er into political econom., it there produced trul. onder-ul

error and con-uion3

!olitical econom. -ind it an etablihed -act that the price o- all commoditie, among them the

price o- the commodit. hich it call labour, continuall. change; that the. rie and -all in

coneuence o- the mot di5ere circumtance, hich o-ten ha5e no connection hatoe5er ith

the production o- the commoditie themel5e, o that price appear to be determined, a a rule,

b. pure chance3 % oon, there-ore, a political econom. tepped -orth a a cience, it a one o-it -irt ta+ to earch -or the la that hid itel- behind thi chance, hich apparentl. determined

the price o- commoditie, and hich in realit. controlled thi 5er. chance3 %mong the price o-

commoditie, -luctuating and ocillating, no upard, no donard, the -ied central point

a earched -or around hich thee -luctuation and ocillation ere ta+ing place3 >n hort,

tarting -rom the price o- commoditie, political econom. ought -or the 5alue o- commoditie a

the regulating la, b. mean o- hich all price -luctuation could be eplained, and to hich the.

could all be reduced in the lat reort3

%nd o, claical political econom. -ound that the 5alue o- a commodit. a determined b. the

labour incorporated in it and reuiite to it production3 With thi eplanation, it a ati-ied3

%nd e, too, ma., -or the preent, top at thi point3 ut, to a5oid miconception, > ill remind

the reader that toda. thi eplanation ha become holl. inadeuate3 *ar a the -irt to

in5etigate thoroughl. into the 5alue'-orming ualit. o- labour and to dico5er that not all labour

hich i apparentl., or e5en reall., necear. to the production o- a commodit., impart under all

circumtance to thi commodit. a magnitude o- 5alue correponding to the uantit. o- labour

ued up3 >-, there-ore, e a. toda. in hort, ith economit li+e #icardo, that the 5alue o- a

commodit. i determined b. the labour necear. to it production, e ala. impl. the

reer5ation and retriction made b. *ar3 (hu much -or our preent purpoe; -urtherin-ormation can be -ound in *arCritique of Political Economy, hich appeared in 18&9, andin the -irt 5olume o-Capital3

ut, a oon a the economit applied thi determination o- 5alue b. labour to the commodit.

labour, the. -ell -rom one contradiction into another3 2o i the 5alue o- labour determinedA

. the necear. labour embodied in it3 ut ho much labour i embodied in the labour o- alabourer o- a da. a ee+, a month, a .ear3 >- labour i the meaure o- all 5alue, e can epre

the 5alue o- labour onl. in labour3 ut e +no abolutel. nothing about the 5alue o- an hour

labour, i- all that e +no about it i that it i eual to one hour labour3 So, thereb., e ha5e

not ad5anced one hair breadth nearer our goal; e are contantl. turning about in a circle3

Claical economic, there-ore, ea.ed another turn3 >t aid: the 5alue o- a commodit. i eual to

it cot o- production3 ut, hat i the cot o- production o- labourA >n order to aner thi

uetion, the economit are -orced to train logic But a little3 >ntead o- in5etigating the cot o-production o- labour itel-, hich, un-ortunatel., cannot be acertained, the. no in5etigate the

1. claical political econom., > undertand that econom. hich, ince the time o- W3 !ett., ha in5etigated thereal relation o- production in bourgeoi ociet., in contraditinction to 5ulgar econom., hich deal ith appearance

onl., ruminate ithout ceaing on the material long ince pro5ided b. cienti-ic econom., and there ee+ plauibleeplanation o- the mot obtrui5e phenomena -or bourgeoi dail. ue, but -or the ret con-ine itel- to .tematiingin a pedantic a., and proclaiming -or e5erlating truth, trite idea held b. the el-'complacent bourgeoiie ithregard to their on orld, to them the bet o- all poible orld3 , p3 9=


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cot o- production o-the labourer3 %nd thi latter can be acertained3 >t change according to time

and circumtance, but -or a gi5en condition o- ociet., in a gi5en localit., and in a gi5en branch

o- production, it, too, i gi5en, at leat ithin uite narro limit3 We li5e toda. under the regime

o- capitalit production, under hich a large and teadil. groing cla o- the population can li5e

onl. on the condition that it or+ -or the oner o- the mean o- production tool, machine,ra material, and mean o- ubitence in return -or age3 Gn the bai o- thi mode o-

production, the labourer cot o- production conit o- the um o- the mean o- ubitence Hortheir price in mone.I hich on the a5erage are reuiite to enable him to or+, to maintain in him

thi capacit. -or or+, and to replace him at hi departure, b. reaon o- age, ic+ne, or death,

ith another labourer that i to a., to propagate the or+ing cla in reuired number3

Let u aume that the mone. price o- thee mean o- ubitence a5erage hilling a da.3 Gur

labourer get, there-ore, a dail. age o- hilling -rom hi emplo.er3 For thi, the capitalit let

him or+, a., 1/ hour a da.3 Gur capitalit, moreo5er, calculate omehat in the -olloing

-ahion: Let u aume that our labourer Ha machinitI ha to ma+e a part o- a machine hich he

-inihe in one da.3 (he ra material Hiron and bra in the necear. prepared -ormI cot /0

hilling3 (he conumption o- coal b. the team'engine, the ear'and'tear o- thi engine itel-, o-

the turning'lathe, and o- the other tool ith hich our labourer or+, repreent, -or one da. and

one labourer, a 5alue o- 1 hilling3 (he age -or one da. are, according to our aumption,

hilling3 (hi ma+e a total o- /4 hilling -or our piece o- a machine3

ut, the capitalit calculate that, on an a5erage, he ill recei5e -or it a price o- /7 hilling -rom

hi cutomer, or hilling o5er and abo5e hi outla.3a

Whence do the. hilling poc+eted b. the capitalit comeA %ccording to the aertion o-

claical political econom., commoditie are in the long run old at their 5alue, that i, the. are

old at price hich correpond to the necear. uantitie o- labour contained in them3 (he

a5erage price o- our part o- a machine /7 hilling ould there-ore eual it 5alue, i3e3, eual

the amount o- labour embodied in it3 ut, o- thee /7 hilling, /1 hilling ere 5alue ere

5alue alread. eiting be-ore the machinit began to or+; /0 hilling ere contained in the

ra material, 1 hilling in the -uel conumed during the or+ and in the machine and tool ued

in the proce and reduced in their e--icienc. to the 5alue o- thi amount3 (here remain

hilling, hich ha5e been added to the 5alue o- the ra material3 ut, according to theuppoition o- our economit, themel5e, thee hilling can arie onl. -rom the labour addedto the ra material b. the labourer3 2i 1/ hour labour ha created, according to thi, a ne

5alue o- hilling3 (here-ore, the 5alue o- hi 1/ hour labour ould be eui5alent to

hilling3 So e ha5e at lat dico5ered hat the 5alue o- labour i3

2old on thereJ crie our machinit3 Si hillingA ut > ha5e recei5ed onl. hillingJ *.capitalit ear high and da. that the 5alue o- m. 1/ hour labour i no more than hilling,

and i- > ere to demand , hed laugh at me3 What +ind o- a tor. i thatA

>- be-ore thi e got ith our 5alue o- labour into a 5iciou circle, e no urel. ha5e dri5en

traight into an inoluble contradiction3 We earched -or the 5alue o- labour, and e -ound morethan e can ue3 For the labourer, the 5alue o- the 1/ hour labour i hilling; -or the

capitalit, it i hilling, o- hich he pa. the or+ingman hilling a age, and poc+et the

remaining hilling himel-3 %ccording to thi, labour ha not one but to 5alue, and, moreo5er,to 5er. di--erent 5alueJ

% oon a e reduce the 5alue, no epreed in mone., to labour'time, the contradiction

become e5en more aburd3 . the 1/ hour labour, a ne 5alue o- hilling i created3

(here-ore, in hour, the ne 5alue created eual hilling the amount hich the labourer

recei5e -or 1/ hour labour3 For 1/ hour labour, the or+ingman recei5e, a an eui5alent,

the product o- hour labour3 We are, thu, -orced to one o- to concluion: either labour ha


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to 5alue, one o- hich i tice a large a the other, or 1/ eual J >n both cae, e get pure

aburditie3 (urn and tit a e ma., e ill not get out o- thi contradiction a long a e

pea+ o- the bu.ing and elling o- labour and o- the 5alue o- labour3 %nd But o it happened

to the political economit3 (he lat o--hoot o- claical political econom. the #icardian chool

a largel. rec+ed on the inolubilit. o- thi contradiction3 Claical political econom. hadrun itel- into a blind alle.3 (he man ho dico5ered the a. out o- thi blind alle. a Karl

*ar3

What the economit had conidered a the cot o- production o- labour a reall. the cot o-

production, not o- labour, but o- the li5ing labourer himel-3 %nd hat thi labourer old to thecapitalit a not hi labour3

So oon a hi labour reall. begin,

a. *ar, it ceae to belong to him,

and there-ore can no longer be old b.

him3

%t the mot, he could ell hifuture labour i3e3, aume the obligation o- eecuting a certain

piece o- or+ in a certain time3 ut, in thi a., he doe not ell labour Hhich ould -irt ha5e

to be per-ormedI, but not -or a tipulated pa.ment he place hi labour'poer at the dipoal o-

the capitalit -or a certain time Hin cae o- time'ageI, or -or the per-ormance o- a certain ta+

Hin cae o- piece'ageI3 2e hire out or ell hilabour-power3 ut thi labour'poer ha gron

up ith hi peron and i ineparable -rom it3 >t cot o- production, there-ore, coincide ith hi

on cot o- production; hat the economit called the cot o- production o- labour i reall. the

cot o- production o- the labourer, and thereith o- hi labour'poer3 %nd, thu, e can alo go

bac+ -rom the cot o- production o- labour'poer to the 5alue o- labour'poer, and determine theuantit. o- ocial labour that i reuired -or the production o- a labour'poer o- a gi5en uantit.,

a *ar ha done in the chapter on (he u.ing and Selling o- Labour !oer3 =

"o hat ta+e place a-ter the or+er ha old hi labour'poer, i3e3, a-ter he ha placed hi

labour'poer at the dipoal o- the capitalit -or tipulated'age hether time'age or piece'ageA (he capitalit ta+e the labourer into hi or+hop or -actor., here all the article

reuired -or the or+ can be -ound ra material, auiliar. material Hcoal, d.etu--, etc3I,

tool, and machine3 2ere, the or+er begin to or+3 2i dail. age are, a abo5e, hilling,

and it ma+e no di--erence hether he earn them a da.'age or piece'age3 We again aume

that in 1/ hour the or+er add b. hi labour a ne 5alue o- hilling to the 5alue o- the ra

material conumed, hich ne 5alue the capitalit realie b. the ale o- the -inihed piece o-

or+3 Gut o- thi ne 5alue, he pa. the or+er hi hilling, and the remaining hilling he

+eep -or himel-3 >-, no, the labourer create in 1/ hour a 5alue o- hilling, in hour he

create a 5alue o- hilling3 Coneuentl., a-ter or+ing hour -or the capitalit, the labourer

ha returned to him the eui5alent o- the hilling recei5ed a age3 %-ter hour or+, both

are uit, neither one oing a penn. to the other3

2old on thereJ no crie out the capitalit3 > ha5e hired the labourer -or a hole da., -or 1/hour3 ut hour are onl. hal-'a'da.3 So or+ along li5el. there until the other hour are at an

end onl. then ill e be e5en3 %nd, in -act, the labourer ha to ubmit to the condition o- the

contract upon hich he entered o- hi on -ree ill, and according to hich he bound himel-

to or+ 1/ hole hour -or a product o- labour hich cot onl. hour labour3

Similarl. ith piece'age3 Let u uppoe that in 1/ hour our or+er ma+e 1/ commoditie3

?ach o- thee cot a hilling in ra material and ear'and'tear, and i old -or /3& hilling3 Gn


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our -ormer aumption, the capitalit gi5e the labourer 3/& o- a hilling -or each piece, hich

ma+e a total o- hilling -or 1/ piece3 (o earn thi, the or+er reuire 1/ hour3 (he

capitalit recei5e 0 hilling -or the 1/ piece; deducting /4 hilling -or ra material and

ear'and'tear, there remain hilling, o- hich he pa. hilling in age and poc+et the

remaining 3 @ut a be-oreJ 2ere, alo, the or+er labour hour -or himel- i3e3, to replacehi age Hhal-'an'hour in each o- the 1/ hourI, and hour -or the capitalit3

(he roc+ upon hich the bet economit ere tranded, a long a the. tarted out -rom the

5alue o- labour, 5anihe a oon a e ma+e our tarting'point the 5alue o-labour-power3

Labour'poer i, in our preent'da. capitalit ociet., a commodit. li+e e5er. other commodit.,but .et a 5er. peculiar commodit.3 >t ha, namel., the peculiarit. o- being a 5alue'creating -orce,

the ource o- 5alue, and, moreo5er, hen properl. treated, the ource o- more 5alue than it

poee itel-3 >n the preent tate o- production, human labour'poer not onl. produce in a

da. a greater 5alue than it itel- poee and cot; but ith each ne cienti-ic dico5er., ith

each ne technical in5ention, there alo rie the urplu o- it dail. production o5er it dail.

cot, hile a a coneuence there diminihe that part o- the or+ing'da. in hich the labourer

produce the eui5alent o- hi da. age, and, on the other hand, lengthen that part o- the

or+ing'da. in hich he mut preent labour grati to the capitalit3

%nd thi i the economic contitution o- our entire modern ociet.: the or+ing cla alone

produce all 5alue3 For 5alue i onl. another epreion -or labour, that epreion, namel., b.

hich i deignated, in our capitalit ociet. o- toda., the amount o- ociall. necear. labour

embodied in a particular commodit.3 ut, thee 5alue produced b. the or+er do not belong to

the or+er3 (he. belong to the oner o- the ra material, machine, tool, and mone., hich

enable them to bu. the labour'poer o- the or+ing cla3 2ence, the or+ing cla get bac+

onl. a part o- the entire ma o- product produced b. it3 %nd, a e ha5e But een, the other

portion, hich the capitalit cla retain, and hich it ha to hare, at mot, onl. ith the

landlord cla, i increaing ith e5er. ne dico5er. and in5ention, hile the hare hich -all

to the or+ing cla Hper capitaI rie but little and 5er. lol., or not at all, and under certaincondition it ma. e5en -all3

ut, thee dico5erie and in5ention hich upplant one another ith e5er'increaing peed, thi

producti5ene o- human labour hich increae -rom da. to da. to unheard'o- proportion, atlat gi5e rie to a con-lict, in hich preent capitalitic econom. mut go to ruin3 Gn the onehand, immeaurable ealth and a uper-luidit. o- product ith hich the bu.er cannot cope3

Gn the other hand, the great ma o- ociet. proletarianied, tran-ormed into age'labourer,

and thereb. diabled -rom appropriating to themel5e that uper-luidit. o- product3 (he

plitting up o- ociet. into a mall cla, immoderatel. rich, and a large cla o- age'labourerde5oid o- all propert., bring it about that thi ociet. mother in it on uper-luidit., hile the

great maBorit. o- it member are carcel., or not at all, protected -rom etreme ant3

(hi condition become e5er. da. more aburd and more unnecear.3 >t mustbe gotten rid o-; it

can be gotten rid o-3 % ne ocial order i poible, in hich the cla di--erence o- toda. illha5e diappeared, and in hich perhap a-ter a hort tranition period, hich, though omehat

de-icient in other repect, ill in an. cae be 5er. ue-ul morall. there ill be the mean o-

li-e, o- the enBo.ment o- li-e, and o- the de5elopment and acti5it. o- all bodil. and mental-acultie, through the .tematic ue and -urther de5elopment o- the enormou producti5e poer

o- ociet., hich eit ith u e5en no, ith eual obligation upon all to or+3 %nd that the

or+er are groing e5er more determined to achie5e thi ne ocial order ill be pro5en on

both ide o- the ocean on thi daning *a. Da., and on Sunda., *a. rd3


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F R E D E R I C E N ! E " #

" o n $ o n % & p r i l ' ( % ) * + ) ,

Preliminary

From 5ariou uarter e ha5e been reproached -or neglecting to portra. the economic condition

hich -orm the material bai o- the preent truggle beteen clae and nation3 With et

purpoe e ha5e hitherto touched upon thee condition onl. hen the. -orced themel5e upon

the ur-ace o- the political con-lict3

>t a necear., be.ond e5er.thing ele, to -ollo the de5elopment o- the cla truggle in the

hitor. o- our on da., and to pro5e empiricall., b. the actual and dail. nel. created hitorical

material, that ith the ubBugation o- the or+ing cla, accomplihed in the da. o- Februar. and

*arch, 1848, the opponent o- that cla the bourgeoi republican in France, and the bourgeoi

and peaant clae ho ere -ighting -eudal abolutim throughout the hole continent o-?urope ere imultaneoul. conuered; that the 5ictor. o- the moderate republic in France

ounded at the ame time the -all o- the nation hich had reponded to the Februar. re5olution

ith heroic ar o- independence; and -inall. that, b. the 5ictor. o5er the re5olutionar.

or+ingmen, ?urope -ell bac+ into it old double la5er., into the ?nglih'#uian la5er.3 (he

@une con-lict in !ari, the -all o- Eienna, the tragi'comed. in erlin in "o5ember 1848, the

deperate e--ort o- !oland, >tal., and 2ungar., the tar5ation o- >reland into ubmiion thee

ere the chie- e5ent in hich the ?uropean cla truggle beteen the bourgeoiie and the

or+ing cla a ummed up, and -rom hich e pro5ed that e5er. re5olutionar. upriing,

hoe5er remote -rom the cla truggle it obBect might appear, mut o- neceit. -ail until the

re5olutionar. or+ing cla hall ha5e conuered; that e5er. ocial re-orm mut remain a

topia until the proletarian re5olution and the -eudalitic counter're5olution ha5e been pitted

againt each other in a orld'ide ar3 >n our preentation, a in realit., elgium and

Siterland ere tragicomic caricaturih genre picture in the great hitoric tableau; the one the

model State o- the bourgeoi monarch., the other the model State o- the bourgeoi republic; both

o- them, State that -latter themel5e to be But a -ree -rom the cla truggle a -rom the?uropean re5olution3

ut no, a-ter our reader ha5e een the cla truggle o- the .ear 1848 de5elop into coloal

political proportion, it i time to eamine more cloel. the economic condition themel5e upon

hich i -ounded the eitence o- the capitalit cla and it cla rule, a ell a the la5er. o-

the or+er3

We hall preent the ubBect in three great di5iion:

(he #elation o- Wage'Labour to Capital, the Sla5er. o- the Wor+er, the #ule o- the

Capitalit3

(he >ne5itable #uin o- the *iddle Clae


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geniue, in hich di5ided 6erman. i e5en richer than in duodecimo princeling3 We there-ore

proceed to the conideration o- the -irt problem3

What are Wages

!o" are they #etermined

>- e5eral or+men ere to be a+ed: 2o much age do .ou getA, one ould repl., > get

to hilling a da., and o on3 %ccording to the di--erent branche o- indutr. in hich the. are

emplo.ed, the. ould mention di--erent um o- mone. that the. recei5e -rom their repecti5e

emplo.er -or the completion o- a certain ta+; -or eample, -or ea5ing a .ard o- linen, or -or

etting a page o- t.pe3 Depite the 5ariet. o- their tatement, the. ould all agree upon onepoint: that age are the amount o- mone. hich the capitalit pa. -or a certain period o- or+

or -or a certain amount o- or+3

Coneuentl., it appear that the capitalit bu. their labour ith mone., and that -or mone. the.

ell him their labour3 ut thi i merel. an illuion3 What the. actuall. ell to the capitalit -ormone. i their labour'poer3 (hi labour'poer the capitalit bu. -or a da., a ee+, a month,

etc3 %nd a-ter he ha bought it, he ue it up b. letting the or+er labour during the tipulated

time3 With the ame amount o- mone. ith hich the capitalit ha bought their labour'poer

H-or eample, ith to hillingI he could ha5e bought a certain amount o- ugar or o- an. other

commodit.3 (he to hilling ith hich he bought /0 pound o- ugar i the price o- the /0

pound o- ugar3 (he to hilling ith hich he bought 1/ hourM ue o- labour'poer, i the

price o- 1/ hourM labour3 Labour'poer, then, i a commodit., no more, no le o than i the

ugar3 (he -irt i meaured b. the cloc+, the other b. the cale3

(heir commodit., labour'poer, the or+er echange -or the commodit. o- the capitalit, -or

mone., and, moreo5er, thi echange ta+e place at a certain ratio3 So much mone. -or o long a

ue o- labour'poer3 For 1/ hourM ea5ing, to hilling3 %nd thee to hilling, do the. not

repreent all the other commoditie hich > can bu. -or to hillingA (here-ore, actuall., theor+er ha echanged hi commodit., labour'poer, -or commoditie o- all +ind, and,

moreo5er, at a certain ratio3 . gi5ing him to hilling, the capitalit ha gi5en him o much

meat, o much clothing, o much ood, light, etc3, in echange -or hi da.M or+3 (he to

hilling there-ore epre the relation in hich labour'poer i echanged -or other

commoditie, the echange'5alue o- labour'poer3

(he echange 5alue o- a commodit. etimated in mone. i called it price3 Wage there-ore are

onl. a pecial name -or the price o- labour'poer, and are uuall. called the price o- labour; it i

the pecial name -or the price o- thi peculiar commodit., hich ha no other repoitor. than

human -leh and blood3

Let u ta+e an. or+er; -or eample, a ea5er3 (he capitalit upplie him ith the loom and

.arn3 (he ea5er applie himel- to or+, and the .arn i turned into cloth3 (he capitalit ta+e

poeion o- the cloth and ell it -or /0 hilling, -or eample3 "o are the age o- the ea5era hare o- the cloth, o- the /0 hilling, o- the product o- the or+A . no mean3 Long be-ore the

cloth i old, perhap long be-ore it i -ull. o5en, the ea5er ha recei5ed hi age3 (hecapitalit, then, doe not pa. hi age out o- the mone. hich he ill obtain -rom the cloth, but

out o- mone. alread. on hand3 @ut a little a loom and .arn are the product o- the ea5er to

hom the. are upplied b. the emplo.er, But o little are the commoditie hich he recei5e in

echange -or hi commodit. labour'poer hi product3 >t i poible that the emplo.er -ound


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no purchaer at all -or the cloth3 >t i poible that he did not get e5en the amount o- the age

b. it ale3 >t i poible that he ell it 5er. pro-itabl. in proportion to the ea5erM age3 ut all

that doe not concern the ea5er3 With a part o- hi eiting ealth, o- hi capital, the capitalit

bu. the labour'poer o- the ea5er in eactl. the ame manner a, ith another part o- hi

ealth, he ha bought the ra material the .arn and the intrument o- labour the loom3 %-terhe ha made thee purchae, and among them belong the labour'poer necear. to the

production o- the cloth he produce onl. ith ra material and intrument o- labour belongingto him3 For our good ea5er, too, i one o- the intrument o- labour, and being in thi repect on

a par ith the loom, he ha no more hare in the product Hthe clothI, or in the price o- the product,

than the loom itel- ha3

Wage, there-ore, are not a hare o- the or+er in the commoditie produced b. himel-3 Wage

are that part o- alread. eiting commoditie ith hich the capitalit bu. a certain amount o-

producti5e labour'poer3

Coneuentl., labour'poer i a commodit. hich it poeor, the age'or+er, ell to the

capitalit3 Wh. doe he ell itA >t i in order to li5e3

ut the putting o- labour'poer into action i3e3, the or+ i the acti5e epreion o- the

labourerM on li-e3 %nd thi li-e acti5it. he ell to another peron in order to ecure the

necear. mean o- li-e3 2i li-e'acti5it., there-ore, i but a mean o- ecuring hi on eitence32e or+ that he ma. +eep ali5e3 2e doe not count the labour itel- a a part o- hi li-e; it i

rather a acri-ice o- hi li-e3 >t i a commodit. that he ha auctioned o-- to another3 (he product o-

hi acti5it., there-ore, i not the aim o- hi acti5it.3 What he produce -or himel- i not the il+

that he ea5e, not the gold that he dra up the mining ha-t, not the palace that he build3 What

he produce -or himel- i age; and the il+, the gold, and the palace are reol5ed -or him into a

certain uantit. o- necearie o- li-e, perhap into a cotton Bac+et, into copper coin, and into a

baement delling3 %nd the labourer ho -or 1/ hour long, ea5e, pin, bore, turn, build,

ho5el, brea+ tone, carrie hod, and o on i thi 1/ hourM ea5ing, pinning, boring,

turning, building, ho5elling, tone'brea+ing, regarded b. him a a mani-etation o- li-e, a li-eA

Nuite the contrar.3 Li-e -or him begin here thi acti5it. ceae, at the table, at the ta5ern, in

bed3 (he 1/ hourM or+, on the other hand, ha no meaning -or him a ea5ing, pinning, boring,

and o on, but onl. a earning, hich enable him to it don at a table, to ta+e hi eat in theta5ern, and to lie don in a bed3 >- the il+'ormM obBect in pinning ere to prolong iteitence a caterpillar, it ould be a per-ect eample o- a age'or+er3

Labour'poer a not ala. a commodit. HmerchandieI3 Labour a not ala. age'labour,

i3e3, -ree labour3 (he la5e did not ell hi labour'poer to the la5e'oner, an. more than the o

ell hi labour to the -armer3 (he la5e, together ith hi labour'poer, a old to hi oneronce -or all3 2e i a commodit. that can pa -rom the hand o- one oner to that o- another3 2e

himel- i a commodit., but hi labour'poer i not hi commodit.3 (he er- ell onl. a portion

o- hi labour'poer3 >t i not he ho recei5e age -rom the oner o- the land; it i rather the

oner o- the land ho recei5e a tribute -rom him3 (he er- belong to the oil, and to the lord o-the oil he bring it -ruit3 (he -ree labourer, on the other hand, ell hi 5er. el-, and that b.

-raction3 2e auction o-- eight, 10, 1/, 1& hour o- hi li-e, one da. li+e the net, to the highet

bidder, to the oner o- ra material, tool, and the mean o- li-e i3e3, to the capitalit3 (helabourer belong neither to an oner nor to the oil, but eight, 10, 1/, 1& hour o- hi dail. li-e

belong to homoe5er bu. them3 (he or+er lea5e the capitalit, to hom he ha old himel-,

a o-ten a he chooe, and the capitalit dicharge him a o-ten a he ee -it, a oon a he no

longer get an. ue, or not the reuired ue, out o- him3 ut the or+er, hoe onl. ource o-

income i the ale o- hi labour'poer, cannot lea5e the hole cla o- bu.er, i3e3, the capitalit

cla, unle he gi5e up hi on eitence3 2e doe not belong to thi or that capitalit, but to the

capitalit cla; and it i -or him to -ind hi man i3e3, to -ind a bu.er in thi capitalit cla3


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e-ore entering more cloel. upon the relation o- capital to age'labour, e hall preent brie-l.

the mot general condition hich come into conideration in the determination o- age3

Wage, a e ha5e een, are the price o- a certain commodit., labour'poer3 Wage, there-ore,

are determined b. the ame la that determine the price o- e5er. other commodit.3 (he uetion

then i, 2o i the price o- a commodit. determinedA

$y "hat is the price o% a commodity determined

. the competition beteen bu.er and eller, b. the relation o- the demand to the uppl., o- the

call to the o--er3 (he competition b. hich the price o- a commodit. i determined i three-old3

(he ame commodit. i o--ered -or ale b. 5ariou eller3 Whoe5er ell commoditie o- the

ame ualit. mot cheapl., i ure to dri5e the other eller -rom the -ield and to ecure thegreatet mar+et -or himel-3 (he eller there-ore -ight among themel5e -or the ale, -or the

mar+et3 ?ach one o- them ihe to ell, and to ell a much a poible, and i- poible to ell

alone, to the ecluion o- all other eller3 ?ach one ell cheaper than the other3 (hu there ta+e

place a competition among the eller hich -orce don the price o- the commoditie o--ered b.

them3

ut there i alo a competition among the bu.er; thi upon it ide caue the price o- the

pro--ered commoditie to rie3

Finall., there i competition beteen the bu.er and the eller: thee ih to purchae a cheapl.a poible, thoe to ell a dearl. a poible3 (he reult o- thi competition beteen bu.er and

eller ill depend upon the relation beteen the to abo5e'mentioned camp o- competitor

i3e3, upon hether the competition in the arm. o- eller i tronger3 >ndutr. lead to great

armie into the -ield againt each other, and each o- thee again i engaged in a battle among it

on troop in it on ran+3 (he arm. among hoe troop there i le -ighting, carrie o-- the

5ictor. o5er the oppoing hot3

Let u uppoe that there are 100 bale o- cotton in the mar+et and at the ame time purchaer -or

1,000 bale o- cotton3 >n thi cae, the demand i 10 time greater than the uppl.3 Competitionamong the bu.er, then, ill be 5er. trong; each o- them trie to get hold o- one bale, i- poible,

o- the hole 100 bale3 (hi eample i no arbitrar. uppoition3 >n the hitor. o- commerce e

ha5e eperienced period o- carcit. o- cotton, hen ome capitalit united together and ought

to bu. up not 100 bale, but the hole cotton uppl. o- the orld3 >n the gi5en cae, then, one

bu.er ee+ to dri5e the other -rom the -ield b. o--ering a relati5el. higher price -or the bale o-

cotton3 (he cotton eller, ho percei5e the troop o- the enem. in the mot 5iolent contention

among themel5e, and ho there-ore are -ull. aured o- the ale o- their hole 100 bale, ill

beare o- pulling one anotherM hair in order to -orce don the price o- cotton at the 5er. moment

in hich their opponent race ith one another to cre it up high3 So, all o- a udden, peace

reign in the arm. o- eller3 (he. tand oppoed to the bu.er li+e one man, -old their arm in

philoophic contentment and their claim ould -ind no limit did not the o--er o- e5en the mot

importunate o- bu.er ha5e a 5er. de-inite limit3>-, then, the uppl. o- a commodit. i le than the demand -or it, competition among the eller

i 5er. light, or there ma. be none at all among them3 >n the ame proportion in hich thi

competition decreae, the competition among the bu.er increae3 #eult: a more or le

coniderable rie in the price o- commoditie3


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>t i ell +non that the oppoite cae, ith the oppoite reult, happen more -reuentl.3 6reat

ece o- uppl. o5er demand; deperate competition among the eller, and a lac+ o- bu.er;

-orced ale o- commoditie at ridiculoul. lo price3

ut hat i a rie, and hat a -all o- priceA What i a high and hat a lo priceA % grain o- and

i high hen eamined through a microcope, and a toer i lo hen compared ith a

mountain3 %nd i- the price i determined b. the relation o- uppl. and demand, b. hat i the

relation o- uppl. and demand determinedA

Let u turn to the -irt orth. citien e meet3 2e ill not heitate one moment, but, li+e

%leander the 6reat, ill cut thi metaph.ical +not ith hi multiplication table3 2e ill a. to

u: >- the production o- the commoditie hich > ell ha cot me 100 pound, and out o- the ale

o- thee good > ma+e 110 pound ithin the .ear, .ou undertand thatM an honet, ound,

reaonable pro-it3 ut i- in the echange > recei5e 1/0 or 10 pound, thatM a higher pro-it; and i-

> hould get a much a /00 pound, that ould be an etraordinar., and enormou pro-it3 Whati it, then, that er5e thi citien a the tandard o- hi pro-itA (he cot o- the production o- hi

commoditie3 >- in echange -or thee good he recei5e a uantit. o- other good hoe

production ha cot le, he ha lot3 >- he recei5e in echange -or hi good a uantit. o- other

good hoe production ha cot more, he ha gained3 %nd he rec+on the -alling or riing o- the

pro-it according to the degree at hich the echange 5alue o- hi good tand, hether abo5e or

belo hi ero the cot o- production3

We ha5e een ho the changing relation o- uppl. and demand caue no a rie, no a -all o-

price; no high, no lo price3 >- the price o- a commodit. rie coniderabl. oing to a

-ailing uppl. or a diproportionatel. groing demand, then the price o- ome other commodit.

mut ha5e -allen in proportion; -or o- coure the price o- a commodit. onl. epree in mone.

the proportion in hich other commoditie ill be gi5en in echange -or it3 >-, -or eample, the

price o- a .ard o- il+ rie -rom to to three hilling, the price o- il5er ha -allen in relation to

the il+, and in the ame a. the price o- all other commoditie hoe price ha5e remained

tationar. ha5e -allen in relation to the price o- il+3 % large uantit. o- them mut be gi5en in

echange in order to obtain the ame amount o- il+3 "o, hat ill be the coneuence o- a rie

in the price o- a particular commodit.A % ma o- capital ill be thron into the properou

branch o- indutr., and thi immigration o- capital into the pro5ince o- the -a5ored indutr. illcontinue until it .ield no more than the cutomar. pro-it, or, rather until the price o- itproduct, oning to o5erproduction, in+ belo the cot o- production3

Con5erel.: i- the price o- a commodit. -all belo it cot o- production, then capital ill be

ithdran -rom the production o- thi commodit.3 ?cept in the cae o- a branch o- indutr.

hich ha become obolete and i there-ore doomed to diappear, the production o- uch acommodit. Hthat i, it uppl.I, ill, oning to thi -light o- capital, continue to decreae until it

correpond to the demand, and the price o- the commodit. rie again to the le5el o- it cot o-

production; or, rather, until the uppl. ha -allen belo the demand and it price ha rien abo5e

it cot o- production, -or the current price o- a commodit. i ala. either abo5e or belo itcot o- production3

We ee ho capital continuall. emigrate out o- the pro5ince o- one indutr. and immigrate into

that o- another3 (he high price produce an ecei5e immigration, and the lo price an ecei5eemigration3

We could ho, -rom another point o- 5ie, ho not onl. the uppl., but alo the demand, i

determined b. the cot o- production3 ut thi ould lead u too -ar aa. -rom our ubBect3

We ha5e But een ho the -luctuation o- uppl. and demand ala. bring the price o- a

commodit. bac+ to it cot o- production3 (he actual price o- a commodit., indeed, tand ala.abo5e or belo the cot o- production; but the rie and -all reciprocall. balance each other, o


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that, ithin a certain period o- time, i- the ebb and -lo o- the indutr. are rec+oned up

together, the commoditie ill be echanged -or one another in accordance ith their cot o-

production3 (heir price i thu determined b. their cot o- production3

(he determination o- price b. the cot o- production i not to be undertood in the ene o- the

bourgeoi economit3 (he economit a. that the a5erage price o- commoditie eual the cot

o- production: that i the la3 (he anarchic mo5ement, in hich the rie i compenated -or b. a

-all and the -all b. a rie, the. regard a an accident3 We might But a ell conider the

-luctuation a the la, and the determination o- the price b. cot o- production a an accident

a i, in -act, done b. certain other economit3 ut it i preciel. thee -luctuation hich,5ieed more cloel., carr. the mot -right-ul de5atation in their train, and, li+e an earthua+e,

caue bourgeoi ociet. to ha+e to it 5er. -oundation it i preciel. thee -luctuation that

-orce the price to con-orm to the cot o- production3 >n the totalit. o- thi diorderl. mo5ement i

to be -ound it order3 >n the total coure o- thi indutrial anarch., in thi circular mo5ement,

competition balance, a it ere, the one etra5agance b. the other3

We thu ee that the price o- a commodit. i indeed determined b. it cot o- production, but in

uch a manner that the period in hich the price o- thee commoditie rie abo5e the cot o-

production are balanced b. the period in hich it in+ belo the cot o- production, and 5ice

5era3 G- coure thi doe not hold good -or a ingle gi5en product o- an indutr., but onl. -or

that branch o- indutr.3 So alo it doe not hold good -or an indi5idual manu-acturer, but onl. -or

the hole cla o- manu-acturer3

(he determination o- price b. cot o- production i tantamount to the determination o- price b.

the labour'time reuiite to the production o- a commodit., -or the cot o- production conit,

-irt o- ra material and ear and tear o- tool, etc3, i3e3, o- indutrial product hoe production

ha cot a certain number o- or+'da., hich there-ore repreent a certain amount o- labour'

time, and, econdl., o- direct labour, hich i alo meaured b. it duration3

$y "hat are "ages determined

"o, the ame general la hich regulate the price o- commoditie in general, naturall.

regulate age, or the price o- labour'poer3 Wage ill no rie, no -all, according to the

relation o- uppl. and demand, according a competition hape itel- beteen the bu.er o-

labour'poer, the capitalit, and the eller o- labour'poer, the or+er3 (he -luctuation o-

age correpond to the -luctuation in the price o- commoditie in general3 ut ithin the limit

o- thee -luctuation the price o- labour'poer ill be determined b. the cot o- production, b.the labour'time necear. -or production o- thi commodit.: labour'poer3

What, then, i the cot o- production o- labour'poerA

>t i the cot reuired -or the maintenance o- the labourer a a labourer, and -or hi education and

training a a labourer3

(here-ore, the horter the time reuired -or training up to a particular ort o- or+, the maller i

the cot o- production o- the or+er, the loer i the price o- hi labour'poer, hi age3 >nthoe branche o- indutr. in hich hardl. an. period o- apprenticehip i necear. and the mere

bodil. eitence o- the or+er i u--icient, the cot o- hi production i limited almot

eclui5el. to the commoditie necear. -or +eeping him in or+ing condition3 (he price o- hi

or+ ill there-ore be determined b. the price o- the necear. mean o- ubitence3

2ere, hoe5er, there enter another conideration3 (he manu-acturer ho calculate hi cot o-

production and, in accordance ith it, the price o- the product, ta+e into account the ear and


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tear o- the intrument o- labour3 >- a machine cot him, -or eample, 1,000 hilling, and thi

machine i ued up in 10 .ear, he add 100 hilling annuall. to the price o- the commoditie, in

order to be able a-ter 10 .ear to replace the orn'out machine ith a ne one3 >n the ame

manner, the cot o- production o- imple labour'poer mut include the cot o- propagation, b.

mean o- hich the race o- or+er i enabled to multipl. itel-, and to replace orn'out or+erith ne one3 (he ear and tear o- the or+er, there-ore, i calculated in the ame manner a

the ear and tear o- the machine3

(hu, the cot o- production o- imple labour'poer amount to the cot o- the eitence and

propagation o- the or+er3 (he price o- thi cot o- eitence and propagation contitute age3(he age thu determined are called the minimum o- age3 (hi minimum age, li+e the

determination o- the price o- commoditie in general b. cot o- production, doe not hold good

-or the ingle indi5idual, but onl. -or the race3 >ndi5idual or+er, indeed, million o- or+er,

do not recei5e enough to be able to eit and to propagate themel5e; but the age o- the hole

or+ing cla adBut themel5e, ithin the limit o- their -luctuation, to thi minimum3

"o that e ha5e come to an undertanding in regard to the mot general la hich go5ern

age, a ell a the price o- e5er. other commodit., e can eamine our ubBect more

particularl.3

&he 'ature and ro"th o% Capital

Capital conit o- ra material, intrument o- labour, and mean o- ubitence o- all +ind,

hich are emplo.ed in producing ne ra material, ne intrument, and ne mean o-

ubitence3 %ll thee component o- capital are created b. labour, product o- labour,

accumulated labour3 %ccumulated labour that er5e a a mean to ne production i capital3

So a. the economit3

What i a "egro la5eA % man o- the blac+ race3 (he one eplanation i orth. o- the other3

% "egro i a "egro3 Gnl. under certain condition doe he become a la5e3 % cotton'pinningmachine i a machine -or pinning cotton3 Gnl. under certain condition doe it become capital3

(orn aa. -rom thee condition, it i a little capital a gold i itel- mone., or ugar i the price

o- ugar3

>n the proce o- production, human being or+ not onl. upon nature, but alo upon one another3(he. produce onl. b. or+ing together in a peci-ied manner and reciprocall. echanging their

acti5itie3 >n order to produce, the. enter into de-inite connection and relation to one another,

and onl. ithin thee ocial connection and relation doe their in-luence upon nature operate

i3e3, doe production ta+e place3

(hee ocial relation beteen the producer, and the condition under hich the. echange their

acti5itie and hare in the total act o- production, ill naturall. 5ar. according to the character o-

the mean o- production3 With the dico5er o- a ne intrument o- ar-are, the -irearm, the hole

internal organiation o- the arm. a necearil. altered, the relation ithin hich indi5idual

compoe an arm. and can or+ a an arm. ere tran-ormed, and the relation o- di--erent armie

to another a li+eie changed3

We thu ee that the ocial relation ithin hich indi5idual produce, the ocial relation o-

production, are altered, tran-ormed, ith the change and de5elopment o- the material mean o-

production, o- the -orce o- production3 (he relation o- production in their totalit. contitute

hat i called the ocial relation, ociet., and, moreo5er, a ociet. at a de-inite tage o- hitorical


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(he labourer recei5e mean o- ubitence in echange -or hi labour'poer; the capitalit

recei5e, in echange -or hi mean o- ubitence, labour, the producti5e acti5it. o- the labourer,

the creati5e -orce b. hich the or+er not onl. replace hat he conume, but alo gi5e to the

accumulated labour a greater 5alue than it pre5ioul. poeed3 (he labourer get -rom the

capitalit a portion o- the eiting mean o- ubitence3 For hat purpoe do thee mean o-ubitence er5e himA For immediate conumption3 ut a oon a > conume mean o-

ubitence, the. are irre5ocabl. lot to me, unle > emplo. the time during hich thee meanutain m. li-e in producing ne mean o- ubitence, in creating b. m. labour ne 5alue in

place o- the 5alue lot in conumption3 ut it i But thi noble reproducti5e poer that the

labourer urrender to the capitalit in echange -or mean o- ubitence recei5ed3 Coneuentl.,

he ha lot it -or himel-3

Let u ta+e an eample3 For one hilling a labourer or+ all da. long in the -ield o- a -armer, to

hom he thu ecure a return o- to hilling3 (he -armer not onl. recei5e the replaced 5alue

hich he ha gi5en to the da. labourer, he ha doubled it3 (here-ore, he ha conumed the one

hilling that he ga5e to the da. labourer in a -ruit-ul, producti5e manner3 For the one hilling he

ha bought the labour'poer o- the da.'labourer, hich create product o- the oil o- tice the

5alue, and out o- one hilling ma+e to3 (he da.'labourer, on the contrar., recei5e in the place

o- hi producti5e -orce, hoe reult he ha But urrendered to the -armer, one hilling, hich he

echange -or mean o- ubitence, hich he conume more or le uic+l.3 (he one hillingha there-ore been conumed in a double manner reproducti5el. -or the capitalit, -or it ha

been echanged -or labour'poer, hich brought -orth to hilling; unproducti5el. -or the

or+er, -or it ha been echanged -or mean o- ubitence hich are lot -or e5er, and hoe

5alue he can obtain again onl. b. repeating the ame echange ith the -armer3 Capital there-orepreuppoe age'labour; age'labour preuppoe capital3 (he. condition each other; each

bring the other into eitence3

Doe a or+er in a cotton -actor. produce onl. cottonA "o3 2e produce capital3 2e produce

5alue hich er5e ane to command hi or+ and to create b. mean o- it ne 5alue3

Capital can multipl. itel- onl. b. echanging itel- -or labour'poer, b. calling age'labour

into li-e3 (he labour'poer o- the age'labourer can echange itel- -or capital onl. b.

increaing capital, b. trengthening that 5er. poer hoe la5e it i3 >ncreae o- capital,there-ore, i increae o- the proletariat, i3e3, o- the or+ing cla3

%nd o, the bourgeoiie and it economit maintain that the interet o- the capitalit and o- the

labourer i the ame3 %nd in -act, o the. areJ (he or+er perihe i- capital doe not +eep him

bu.3 Capital perihe i- it doe not eploit labour'poer, hich, in order to eploit, it mut bu.3

(he more uic+l. the capital detined -or production the producti5e capital increae, themore properou indutr. i, the more the bourgeoiie enriche itel-, the better buine get, o

man. more or+er doe the capitalit need, o much the dearer doe the or+er ell himel-3 (he

-atet poible groth o- producti5e capital i, there-ore, the indipenable condition -or a

tolerable li-e to the labourer3

ut hat i groth o- producti5e capitalA 6roth o- the poer o- accumulated labour o5er li5ing

labour; groth o- the rule o- the bourgeoiie o5er the or+ing cla3 When age'labour produce

the alien ealth dominating it, the poer hotile to it, capital, there -lo bac+ to it it mean o-emplo.ment i3e3, it mean o- ubitence, under the condition that it again become a part o-capital, that i become again the le5er hereb. capital i to be -orced into an accelerated

epani5e mo5ement3

(o a. that the interet o- capital and the interet o- the or+er are identical, igni-ie onl.

thi: that capital and age'labour are to ide o- one and the ame relation3 (he one condition

the other in the ame a. that the uurer and the borroer condition each other3


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% long a the age'labourer remain a age'labourer, hi lot i dependent upon capital3 (hat i

hat the boated communit. o- interet beteen or+er and capitalit amount to3

>- capital gro, the ma o- age'labour gro, the number o- age'or+er increae; in a

ord, the a. o- capital etend o5er a greater ma o- indi5idual3

Let u uppoe the mot -a5orable cae: i- producti5e capital gro, the demand -or labour gro3

>t there-ore increae the price o- labour'poer, age3% houe ma. be large or mall; a long a the neighboring houe are li+eie mall, it ati-ie

all ocial reuirement -or a reidence3 ut let there arie net to the little houe a palace, and the

little houe hrin+ to a hut3 (he little houe no ma+e it clear that it inmate ha no ocial

poition at all to maintain, or but a 5er. inigni-icant one; and hoe5er high it ma. hoot up in

the coure o- ci5iliation, i- the neighboring palace rie in eual or e5en in greater meaure, the

occupant o- the relati5el. little houe ill ala. -ind himel- more uncom-ortable, more

diati-ied, more cramped ithin hi -our all3

%n appreciable rie in age preuppoe a rapid groth o- producti5e capital3 #apid groth o-

producti5e capital call -orth But a rapid a groth o- ealth, o- luur., o- ocial need and ocial

pleaure3 (here-ore, although the pleaure o- the labourer ha5e increaed, the ocial

grati-ication hich the. a--ord ha -allen in comparion ith the increaed pleaure o- the

capitalit, hich are inacceible to the or+er, in comparion ith the tage o- de5elopment o-ociet. in general3 Gur ant and pleaure ha5e their origin in ociet.; e there-ore meaure

them in relation to ociet.; e do not meaure them in relation to the obBect hich er5e -or their

grati-ication3 Since the. are o- a ocial nature, the. are o- a relati5e nature3

ut age are not at all determined merel. b. the um o- commoditie -or hich the. ma. be

echanged3 Gther -actor enter into the problem3 What the or+er directl. recei5e -or their

labour'poer i a certain um o- mone.3 %re age determined merel. b. thi mone. priceA

>n the 1th centur., the gold and il5er circulation in ?urope increaed in coneuence o- thedico5er. o- richer and more eail. or+ed mine in %merica3 (he 5alue o- gold and il5er,

there-ore, -ell in relation to other commoditie3 (he or+er recei5ed the ame amount o- coined

il5er -or their labour'poer a be-ore3 (he mone. price o- their or+ remained the ame, and .et

their age had -allen, -or in echange -or the ame amount o- il5er the. obtained a malleramount o- other commoditie3 (hi a one o- the circumtance hich -urthered the groth o-

capital, the rie o- the bourgeoiie, in the 18th centur.3

Let u ta+e another cae3 >n the inter o- 1847, in coneuence o- bad har5et, the mot

indipenable mean o- ubitence grain, meat, butter, cheee, etc3 roe greatl. in price3 Letu uppoe that the or+er till recei5ed the ame um o- mone. -or their labour'poer a

be-ore3 Did not their age -allA (o be ure3 For the ame mone. the. recei5ed in echange le

bread, meat, etc3 (heir age -ell, not becaue the 5alue o- il5er a le, but becaue the 5alue

o- the mean o- ubitence had increaed3

Finall., let u uppoe that the mone. price o- labour'poer remained the ame, hile all

agricultural and manu-actured commoditie had -allen in price becaue o- the emplo.ment o- ne

machine, o- -a5orable eaon, etc3 For the ame mone. the or+er could no bu. more

commoditie o- all +ind3 (heir age ha5e there-ore rien, But becaue their mone. 5alue hanot changed3

(he mone. price o- labour'poer, the nominal age, do not there-ore coincide ith the actual or

real age i3e3, ith the amount o- commoditie hich are actuall. gi5en in echange -or the

age3 >- then e pea+ o- a rie or -all o- age, e ha5e to +eep in mind not onl. the mone.

price o- labour'poer, the nominal age, but alo the real age3


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ut neither the nominal age i3e3, the amount o- mone. -or hich the labourer ell himel- to

the capitalit nor the real age i3e3, the amount o- commoditie hich he can bu. -or thi

mone. ehaut the relation hich are comprehended in the term age3

Wage are determined abo5e all b. their relation to the gain, the pro-it, o- the capitalit3 >n other

ord, age are a proportionate, relati5e uantit.3

#eal age epre the price o- labour'poer in relation to the price o- commoditie; relati5eage, on the other hand, epre the hare o- immediate labour in the 5alue nel. created b. it,

in relation to the hare o- it hich -all to accumulated labour, to capital3

&he eneral La" that #etermines the ise and

+all o% Wages and Pro%its

We ha5e aid: Wage are not a hare o- the or+er in the commoditie produced b. him3 Wage

are that part o- alread. eiting commoditie ith hich the capitalit bu. a certain amount o-producti5e labour'poer3 ut the capitalit mut replace thee age out o- the price -or hich

he ell the product made b. the or+er; he mut o replace it that, a a rule, there remain to him

a urplu abo5e the cot o- production epended b. him, that i, he mut get a pro-it3

(he elling price o- the commoditie produced b. the or+er i di5ided, -rom the point o- 5ie o-

the capitalit, into three part:

Firt, the replacement o- the price o- the ra material ad5anced b. him, in addition to the

replacement o- the ear and tear o- the tool, machine, and other intrument o- labour li+eie

ad5anced b. him;

Second, the replacement o- the age ad5anced; and

(hird, the urplu le-to5er i3e3, the pro-it o- the capitalit3

While the -irt part merel. replace pre5ioul. eiting 5alue, it i e5ident that the replacemento- the age and the urplu Hthe pro-it o- capitalI are a a hole ta+en out o- the ne 5alue,

hich i produced b. the labour o- the or+er and added to the ra material3 %nd in thi ene

e can 5ie age a ell a pro-it, -or the purpoe o- comparing them ith each other, a

hare in the product o- the or+er3

#eal age ma. remain the ame, the. ma. e5en rie, ne5erthele the relati5e age ma. -all3

Let u uppoe, -or intance, that all mean o- ubitence ha5e -allen /)rd in price, hile the

da.M age ha5e -allen but 1)rd -or eample, -rom three to to hilling3 %lthough the or+er

can no get a greater amount o- commoditie ith thee to hilling than he -ormerl. did ith

three hilling, .et hi age ha5e decreaed in proportion to the gain o- the capitalit3 (he pro-it

o- the capitalit the manu-acturerM -or intance ha increaed one hilling, hich mean that

-or a maller amount o- echange 5alue, hich he pa. to the or+er, the latter mut produce a

greater amount o- echange 5alue than be-ore3 (he hare o- capital in proportion to the hare o-labour ha rien3 (he ditribution o- ocial ealth beteen capital and labour ha become till

more uneual3 (he capitalit command a greater amount o- labour ith the ame capital3 (he

poer o- the capitalit cla o5er the or+ing cla ha gron, the ocial poition o- the or+er

ha become ore, ha been -orced don till another degree belo that o- the capitalit3

What, then, i the general la that determine the rie and -all o- age and pro-it in their

reciprocal relationA


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(he. tand in in5ere proportion to each other3 (he hare o- Hpro-itI increae in the ame

proportion in hich the hare o- labour HageI -all, and 5ice 5era3 !ro-it rie in the ame

degree in hich age -all; it -all in the ame degree in hich age rie3

>t might perhap be argued that the capitalit cla can gain b. an ad5antageou echange o- hi

product ith other capitalit, b. a rie in the demand -or hi commoditie, hether in

coneuence o- the opening up o- ne mar+et, or in coneuence o- temporaril. increaed

demand in the old mar+et, and o on; that the pro-it o- the capitalit, there-ore, ma. be multiplied

b. ta+ing ad5antage o- other capitalit, independentl. o- the rie and -all o- age, o- the

echange 5alue o- labour'poer; or that the pro-it o- the capitalit ma. alo rie throughimpro5ement in the intrument o- labour, ne application o- the -orce o- nature, and o on3

ut in the -irt place it mut be admitted that the reult remain the ame, although brought about

in an oppoite manner3 !ro-it, indeed, ha not rien becaue age ha5e -allen, but age ha5e

-allen becaue pro-it ha rien3 With the ame amount o- another manM labour the capitalit habought a larger amount o- echange 5alue ithout ha5ing paid more -or the labour on that

account i3e3, the or+ i paid -or le in proportion to the net gain hich it .ield to the

capitalit3

>n the econd place, it mut be borne in mind that, depite the -luctuation in the price o-

commoditie, the a5erage price o- e5er. commodit., the proportion in hich it echange -orother commoditie, i determined b. it cot o- production3 (he act o- o5erreaching and ta+ing

ad5antage o- one another ithin the capitalit ran+ necearil. eualie themel5e3 (he

impro5ement o- machiner., the ne application o- the -orce o- nature in the er5ice o-

production, ma+e it poible to produce in a gi5en period o- time, ith the ame amount o- labour

and capital, a larger amount o- product, but in no ie a larger amount o- echange 5alue3 >- b.

the ue o- the pinning'machine > can -urnih tice a much .arn in an hour a be-ore it

in5ention -or intance, 100 pound intead o- &0 pound in the long run > recei5e bac+, in

echange -or thi 100 pound no more commoditie than > did be-ore -or &0; becaue the cot o-

production ha -allen b. 1)/, or becaue > can -urnih double the product at the ame cot3

Finall., in hatoe5er proportion the capitalit cla, hether o- one countr. or o- the entire

orld'mar+et, ditribute the net re5enue o- production among themel5e, the total amount o- thi

net re5enue ala. conit eclui5el. o- the amount b. hich accumulated labour ha beenincreaed -rom the proceed o- direct labour3 (hi hole amount, there-ore, gro in the ame

proportion in hich labour augment capital i3e3, in the ame proportion in hich pro-it rie a

compared ith age3

&he Interests o% Capital and Wage*Labour are

diametrically opposed,

E%%ect o% gro"th o% producti-e Capital onWages

We thu ee that, e5en i- e +eep ourel5e ithin the relation o- capital and age'labour, the

interet o- capital and the interet o- age'labour are diametricall. oppoed to each other3


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% rapid groth o- capital i .non.mou ith a rapid groth o- pro-it3 !ro-it can gro rapidl.

onl. hen the price o- labour the relati5e age decreae But a rapidl.3 #elati5e age ma.

-all, although real age rie imultaneoul. ith nominal age, ith the mone. 5alue o-

labour, pro5ided onl. that the real age doe not rie in the ame proportion a the pro-it3 >-, -or

intance, in good buine .ear age rie & per cent, hile pro-it rie 0 per cent, theproportional, the relati5e age ha not increaed, but decreaed3

>-, there-ore, the income o- the or+er increaed ith the rapid groth o- capital, there i at the

ame time a idening o- the ocial cham that di5ide the or+er -rom the capitalit, and increae

in the poer o- capital o5er labour, a greater dependence o- labour upon capital3

(o a. that the or+er ha an interet in the rapid groth o- capital, mean onl. thi: that the

more peedil. the or+er augment the ealth o- the capitalit, the larger ill be the crumb

hich -all to him, the greater ill be the number o- or+er than can be called into eitence, the

more can the ma o- la5e dependent upon capital be increaed3

We ha5e thu een that e5en the mot -a5orable ituation -or the or+ing cla, namel., the mot

rapid groth o- capital, hoe5er much it ma. impro5e the material li-e o- the or+er, doe not

abolih the antagonim beteen hi interet and the interet o- the capitalit3 !ro-it and age

remain a be-ore, in in5ere proportion3

>- capital gro rapidl., age ma. rie, but the pro-it o- capital rie diproportionatel. -ater3(he material poition o- the or+er ha impro5ed, but at the cot o- hi ocial poition3 (he ocial

cham that eparate him -rom the capitalit ha idened3

Finall., to a. that the mot -a5orable condition -or age'labour i the -atet poible groth o-producti5e capital, i the ame a to a.: the uic+er the or+ing cla multiplie and augment

the poer inimical to it the ealth o- another hich lord o5er that cla the more -a5orable

ill be the condition under hich it ill be permitted to toil ane at the multiplication o-

bourgeoi ealth, at the enlargement o- the poer o- capital, content thu to -orge -or itel- thegolden chain b. hich the bourgeoiie drag it in it train3

6roth o- producti5e capital and rie o- age, are the. reall. o indiolubl. united a the

bourgeoi economit maintainA We mut not belie5e their mere ord3 We dare not belie5e them

e5en hen the. claim that the -atter capital i the more ill it la5e be pampered3 (hebourgeoiie i too much enlightened, it +eep it account much too care-ull., to hare the

preBudice o- the -eudal lord, ho ma+e an otentatiou dipla. o- the magni-icence o- hi

retinue3 (he condition o- eitence o- the bourgeoiie compel it to attend care-ull. to it

boo++eeping3 We mut there-ore eamine more cloel. into the -olloing uetion:

In what manner does the growth of productive capital affectwages?

>- a a hole, the producti5e capital o- bourgeoi ociet. gro, there ta+e place a more man.'

ided accumulation o- labour3 (he indi5idual capital increae in number and in magnitude3 (he

multiplication o- indi5idual capital increae the competition among capitalit3 (he increaing

magnitude o- increaing capital pro5ide the mean o- leading more poer-ul armie o- or+er

ith more gigantic intrument o- ar upon the indutrial battle-ield3

(he one capitalit can dri5e the other -rom the -ield and carr. o-- hi capital onl. b. elling more

cheapl.3 >n order to ell more cheapl. ithout ruining himel-, he mut produce more cheapl.

i3e3, increae the producti5e -orce o- labour a much a poible3

ut the producti5e -orce o- labour i increaed abo5e all b. a greater di5iion o- labour and b. a

more general introduction and contant impro5ement o- machiner.3 (he larger the arm. o-

or+er among hom the labour i ubdi5ided, the more gigantic the cale upon hich


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machiner. i introduced, the more in proportion doe the cot o- production decreae, the more

-ruit-ul i the labour3 %nd o there arie among the capitalit a uni5eral ri5alr. -or the increae

o- the di5iion o- labour and o- machiner. and -or their eploitation upon the greatet poible

cale3

>-, no, b. a greater di5iion o- labour, b. the application and impro5ement o- ne machine, b.

a more ad5antageou eploitation o- the -orce o- nature on a larger cale, a capitalit ha -ound

the mean o- producing ith the ame amount o- labour Hhether it be direct or accumulated

labourI a larger amount o- product o- commoditie than hi competitor i-, -or intance, he can

produce a hole .ard o- linen in the ame labour'time in hich hi competitor ea5e hal-'a'.ard ho ill thi capitalit actA

2e could +eep on elling hal-'a'.ard o- linen at old mar+et price; but thi ould not ha5e the

e--ect o- dri5ing hi opponent -rom the -ield and enlarging hi on mar+et3 ut hi need o- a

mar+et ha increaed in the ame meaure in hich hi producti5e poer ha etended3 (he morepoer-ul and cotl. mean o- production that he ha called into eitence enable him, it i true, to

ell hi are more cheapl., but the. compel him at the ame time to ell more are, to get

control o- a 5er. much greater mar+et -or hi commoditie; coneuentl., thi capitalit ill ell

hi hal-'.ard o- linen more cheapl. than hi competitor3

ut the capitalit ill not ell the hole .ard o cheapl. a hi competitor ell the hal-'.ard,although the production o- the hole .ard cot him no more than doe that o- the hal-'.ard to the

other3 Gtherie, he ould ma+e no etra pro-it, and ould get bac+ in echange onl. the cot

o- production3 2e might obtain a greater income -rom ha5ing et in motion a larger capital, but

not -rom ha5ing made a greater pro-it on hi capital than the other3 *oreo5er, he attain the

obBect he i aiming at i- he price hi good onl. a mall percentage loer than hi competitor3

2e dri5e them o-- the -ield, he ret -rom them at leat part o- their mar+et, b. underelling

them3

%nd -inall., let u remember that the current price ala. tand either abo5e or belo the cot o-

production, according a the ale o- a commodit. ta+e place in the -a5orable or un-a5orable

period o- the indutr.3 %ccording a the mar+et price o- the .ard o- linen tand abo5e or belo

it -ormer cot o- production, ill the percentage 5ar. at hich the capitalit ho ha made ue o-

the ne and more -aith-ul mean o- production ell abo5e hi real cot o- production3ut the pri5ilege o- our capitalit i not o- long duration3 Gther competing capitalit introduce

the ame machine, the ame di5iion o- labour, and introduce them upon the ame or e5en upon

a greater cale3 %nd -inall. thi introduction become o uni5eral that the price o- the linen i

loered not onl. belo it old, but e5en belo it ne cot o- production3

(he capitalit there-ore -ind themel5e, in their mutual relation, in the ame ituation in hich

the. ere be-ore the introduction o- the ne mean o- production; and i- the. are b. thee mean

enabled to o--er double the product at the old price, the. are no -orced to -urnih double the

product -or le than the old price3 2a5ing arri5ed at the ne point, the ne cot o- production,

the battle -or upremac. in the mar+et ha to be -ought out ane3 6i5en more di5iion o- labour

and more machiner., and there reult a greater cale upon hich di5iion o- labour and

machiner. are eploited3 %nd competition again bring the ame reaction againt thi reult3


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E%%ect o% Capitalist Competition on the Capitalist

Class

the Middle Class and the Wor.ing Class

We thu ee ho the method o- production and the mean o- production are contantl. enlarged,

re5olutionied, ho di5iion o- labour necearil. dra a-ter it greater di5iion o- labour, the

emplo.ment o- machiner. greater emplo.ment o- machiner., or+ upon a large cale or+ upon

a till greater cale3 (hi i the la that continuall. thro capitalit production out o- it old rut

and compel capital to train e5er more the producti5e -orce o- labour -or the 5er. reaon that itha alread. trained them the la that grant it no repite, and contantl. hout in it ear:

*archJ marchJ (hi i no other la than that hich, ithin the periodical -luctuation o-

commerce, necearil. adBut the price o- a commodit. to it cot o- production3

"o matter ho poer-ul the mean o- production hich a capitalit ma. bring into the -ield,

competition ill ma+e their adoption general; and -rom the moment that the. ha5e been generall.adopted, the ole reult o- the greater producti5ene o- hi capital ill be that he mut -urnih at

the ame price, 10, /0, 100 time a much a be-ore3 ut ince he mut -ind a mar+et -or, perhap,

1,000 time a much, in order to outeigh the loer elling price b. the greater uantit. o- the

ale; ince no a more eteni5e ale i necear. not onl. to gain a greater pro-it, but alo in

order to replace the cot o- production Hthe intrument o- production itel- gro ala. more

cotl., a e ha5e eenI, and ince thi more eteni5e ale ha become a uetion o- li-e and

death not onl. -or him, but alo -or hi ri5al, the old truggle mut begin again, and it i all the

more 5iolent the more poer-ul the mean o- production alread. in5ented are3 (he di5iion o-

labour and the application o- machiner. ill there-ore ta+e a -reh tart, and upon an e5en greater

cale3

Whate5er be the poer o- the mean o- production hich are emplo.ed, competition ee+ to rob

capital o- the golden -ruit o- thi poer b. reducing the price o- commoditie to the cot o-production; in the ame meaure in hich production i cheapened ' i3e3, in the ame meaure in

hich more can be produced ith the ame amount o- labour it compel b. a la hich i

irreitible a till greater cheapening o- production, the ale o- e5er greater mae o- product -or

maller price3 (hu the capitalit ill ha5e gained nothing more b. hi e--ort than the obligation

to -urnih a greater product in the ame labour'time; in a ord, more di--icult condition -or thepro-itable emplo.ment o- hi capital3 While competition, there-ore, contantl. purue him ith

it la o- the cot o- production and turn againt himel- e5er. eapon that he -orge againt hi

ri5al, the capitalit continuall. ee+ to get the bet o- competition b. retlel. introducing

-urther ubdi5iion o- labour and ne machine, hich, though more epeni5e, enable him toproduce more cheapl., intead o- aiting until the ne machine hall ha5e been rendered

obolete b. competition3

>- e no concei5e thi -e5erih agitation a it operate in the mar+et o- the hole orld, ehall be in a poition to comprehend ho the groth, accumulation, and concentration o- capitalbring in their train an e5er more detailed ubdi5iion o- labour, an e5er greater impro5ement o-

old machine, and a contant application o- ne machine a proce hich goe on

uninterruptedl., ith -e5erih hate, and upon an e5er more gigantic cale3

ut hat e--ect do thee condition, hich are ineparable -rom the groth o- producti5e capital,ha5e upon the determination o- ageA


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(he greater di5iion o- labour enable one labourer to accomplih the or+ o- -i5e, 10, or /0

labourer; it there-ore increae competition among the labourer -i5e-old, ten-old, or tent.-old3

(he labourer compete not onl. b. elling themel5e one cheaper than the other, but alo b. one

doing the or+ o- -i5e, 10, or /0; and the. are -orced to compete in thi manner b. the di5iion o-

labour, hich i introduced and teadil. impro5ed b. capital3

Furthermore, to the ame degree in hich the di5iion o- labour increae, i the labour

impli-ied3 (he pecial +ill o- the labourer become orthle3 2e become tran-ormed into a

imple monotonou -orce o- production, ith neither ph.ical nor mental elaticit.3 2i or+

become acceible to all; there-ore competitor pre upon him -rom all ide3 *oreo5er, it mutbe remembered that the more imple, the more eail. learned the or+ i, o much the le i it

cot to production, the epene o- it acuiition, and o much the loer mut the age in+

-or, li+e the price o- an. other commodit., the. are determined b. the cot o- production3

(here-ore, in the ame manner in hich labour become more unati-actor., more repuli5e, do

competition increae and age decreae3

(he labourer ee+ to maintain the total o- hi age -or a gi5en time b. per-orming more labour,

either b. or+ing a great number o- hour, or b. accomplihing more in the ame number o-

hour3 (hu, urged on b. ant, he himel- multiplie the diatrou e--ect o- di5iion o- labour3

(he reult i: the more he or+, the le age he recei5e3 %nd -or thi imple reaon: the more

he or+, the more he compete againt hi -ello or+men, the more he compel them to

compete againt him, and to o--er themel5e on the ame retched condition a he doe; o

that, in the lat anal.i, he compete againt himel- a a member o- the or+ing cla3

*achiner. produce the ame e--ect, but upon a much larger cale3 >t upplant +illed labourer

b. un+illed, men b. omen, adult b. children; here nel. introduced, it thro or+er upon

the treet in great mae; and a it become more highl. de5eloped and more producti5e it

dicard them in additional though maller number3

We ha5e hatil. +etched in broad outline the indutrial ar o- capitalit among themel5e3

(hi ar ha the peculiarit. that the battle in it are on le b. recruiting than b. dicharging the

arm. o- or+er3 (he general Hthe capitalitI 5ie ith one another a to ho can dicharge the

greatet number o- indutrial oldier3

(he economit tell u, to be ure, that thoe labourer ho ha5e been rendered uper-luou b.machiner. -ind ne 5enue o- emplo.ment3 (he. dare not aert directl. that the ame labourer

that ha5e been dicharged -ind ituation in ne branche o- labour3 Fact cr. out too loudl.

againt thi lie3 Strictl. pea+ing, the. onl. maintain that ne mean o- emplo.ment ill be

-ound -or other ection o- the or+ing cla; -or eample, -or that portion o- the .oung

generation o- labourer ho ere about to enter upon that branch o- indutr. hich had But been

abolihed3 G- coure, thi i a great ati-action to the diabled labourer3 (here ill be no lac+ o-

-reh eploitable blood and mucle -or the *er3 Capitalit the dead ma. bur. their dead3

(hi conolation eem to be intended more -or the com-ort o- the capitalit themel5e than

their labourer3 >- the hole cla o- the age'labourer ere to be annihilated b. machiner., hoterrible that ould be -or capital, hich, ithout age'labour, ceae to be capitalJ

ut e5en i- e aume that all ho are directl. -orced out o- emplo.ment b. machiner., a ell

a all o- the riing generation ho ere aiting -or a chance o- emplo.ment in the ame branch

o- indutr., do actuall. -ind ome ne emplo.ment are e to belie5e that thi ne emplo.mentill pa. a high age a did the one the. ha5e lotA >- it did, it ould be in contradiction to the

la o- political econom.3 We ha5e een ho modern indutr. ala. tend to the ubtitution o-

the impler and more ubordinate emplo.ment -or the higher and more comple one3 2o,

then, could a ma o- or+er thron out o- one branch o- indutr. b. machiner. -ind re-uge in

another branch, unle the. ere to be paid more poorl.A


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%n eception to the la ha been adduced, namel., the or+er ho are emplo.ed in the

manu-acture o- machiner. itel-3 % oon a there i in indutr. a greater demand -or and a

greater conumption o- machiner., it i aid that the number o- machine mut necearil.

increae; coneuentl., alo, the manu-acture o- machine; coneuentl., alo, the emplo.ment o-

or+er in machine manu-acture; and the or+er emplo.ed in thi branch o- indutr. are +illed,e5en educated, or+er3

Since the .ear 1840 thi aertion, hich e5en be-ore that date a onl. hal-'true, ha lot all

emblance o- truth; -or the mot di5ere machine are no applied to the manu-acture o- the

machine themel5e on uite a eteni5e a cale a in the manu-acture o- cotton .arn, and thelabourer emplo.ed in machine -actorie can but pla. the role o- 5er. tupid machine alongide

o- the highl. ingeniou machine3

ut in place o- the man ho ha been dimied b. the machine, the -actor. ma. emplo.,

perhap, three children and one omanJ %nd mut not the age o- the man ha5e pre5ioul.u--iced -or the three children and one omanA *ut not the minimum age ha5e u--iced -or

the preer5ation and propagation o- the raceA What, then, do thee belo5ed bourgeoi phrae

pro5eA "othing more than that no -our time a man. or+erM li5e are ued up a there ere

pre5ioul., in order to obtain the li5elihood o- one or+ing -amil.3

(o um up: the more producti5e capital gro, the more it etend the di5iion o- labour and theapplication o- machiner.; the more the di5iion o- labour and the application o- machiner.

etend, the more doe competition etend among the or+er, the more do their age hrin+

together3

>n addition, the or+ing cla i alo recruited -rom the higher trata o- ociet.; a ma o- mall

buine men and o- people li5ing upon the interet o- their capital i precipitated into the ran+

o- the or+ing cla, and the. ill ha5e nothing ele to do than to tretch out their arm alongide

o- the arm o- the or+er3 (hu the -oret o- outtretched arm, begging -or or+, gro e5er

thic+er, hile the arm themel5e gro e5er. leaner3

>t i e5ident that the mall manu-acturer cannot ur5i5e in a truggle in hich the -irt condition

o- ucce i production upon an e5er greater cale3 >t i e5ident that the mall manu-acturer and

thereb. increaing the number o- candidate -or the proletariat all thi reuire no -urther

elucidation3

Finall., in the ame meaure in hich the capitalit are compelled, b. the mo5ement decribed

abo5e, to eploit the alread. eiting gigantic mean o- production on an e5er'increaing cale,

and -or thi purpoe to et in motion all the mainpring o- credit, in the ame meaure do the.

increae the indutrial earthua+e, in the midt o- hich the commercial orld can preer5e

itel- onl. b. acri-icing a portion o- it ealth, it product, and e5en it -orce o- production, to

the god o- the loer orld in hort, the crie increae3 (he. become more -reuent and more

5iolent, i- -or no other reaon, than -or thi alone, that in the ame meaure in hich the ma o-

product gro, and there-ore the need -or eteni5e mar+et, in the ame meaure doe the

orld mar+et hrin+ e5er more, and e5er -eer mar+et remain to be eploited, ince e5er.

pre5iou crii ha ubBected to the commerce o- the orld a hitherto unconuered or but

uper-iciall. eploited mar+et3

ut capital not onl. li5e upon labour3 Li+e a mater, at once ditinguihed and barbarou, it

drag ith it into it gra5e the corpe o- it la5e, hole hecatomb o- or+er, ho perih in

the crie3

We thu ee that i- capital gro rapidl., competition among the or+er gro ith e5en greater

rapidit. i3e3, the mean o- emplo.ment and ubitence -or the or+ing cla decreae in

proportion e5en more rapidl.; but, thi notithtanding, the rapid groth o- capital i the mot

-a5orable condition -or age'labour3


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wage labour capital

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