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A Critique of Political Economy. Volume I: the Process of Capitalist Production [1867] The Online Library of Liberty A Project Of Liberty Fund, Inc. Karl Marx, Capital: A Critique of Political Economy. Volume I: The Process of Capitalist Production [1867] The Online Library Of Liberty This E-Book (PDF format) is published by Liberty Fund, Inc., a private, non-profit, educational foundation established in 1960 to encourage study of the ideal of a society of free and responsible individuals. 2010 was the 50th anniversary year of the founding of Liberty Fund. It is part of the Online Library of Liberty web site http://oll.libertyfund.org, which was established in 2004 in order to further the educational goals of Liberty Fund, Inc. To find out more about the author or title, to use the site's powerful search engine, to see other titles in other formats (HTML, facsimile PDF), or to make use of the hundreds of essays, educational aids, and study guides, please visit the OLL web site. This title is also part of the Portable Library of Liberty DVD which contains over 1,000 books and quotes about liberty and power, and is available free of charge upon request. The cuneiform inscription that appears in the logo and serves as a design element in all Liberty Fund books and web sites is the earliest-known written appearance of the word “freedom” (amagi), or “liberty.” It is taken from a clay document written about 2300 B.C. in the Sumerian city-state of Lagash, in present day Iraq. To find out more about Liberty Fund, Inc., or the Online Library of Liberty Project, please contact the Director at [email protected]. LIBERTY FUND, INC. 8335 Allison Pointe Trail, Suite 300 Indianapolis, Indiana 46250-1684 Online Library of Liberty: Capital: A Critique of Political Economy. Volume I: The Process of Capitalist Production Edition Used: Capital: A Critique of Political Economy. Volume I: The Process of Capitalist Production, by Karl Marx. Trans. from the 3rd German edition, by Samuel Moore and Edward Aveling, ed. Federick Engels. Revised and amplified according to the 4th German ed. by Ernest Untermann (Chicago: Charles H. Kerr and Co., 1909). Author: Karl Marx Editor: Samuel Moore Translator: Edward Aveling Editor: Friedrich Engels Translator: Ernest Untermann About This Title: Vol. I of the major work of criticism of the capitalist system by one of the leading theorists of 19th century socialism. Only vol. 1 appeared in Marx’s lifetime; the other two vols. were published postumously by Engels. Marx prided himself on having PLL v6.0 (generated September, 2011) 2 http://oll.libertyfund.org/title/965 Online Library of Liberty: Capital: A Critique of Political Economy. Volume I: The Process of Capitalist Production discovered the “laws” which governed the operation of the capitalist system, laws which would inevitably lead to its collapse. PLL v6.0 (generated September, 2011) 3 http://oll.libertyfund.org/title/965 Online Library of Liberty: Capital: A Critique of Political Economy. Volume I: The Process of Capitalist Production About Liberty Fund: Liberty Fund, Inc. is a private, educational foundation established to encourage the study of the ideal of a society of free and responsible individuals. Copyright Information: The text is in the public domain. Fair Use Statement: This material is put online to further the educational goals of Liberty Fund, Inc. Unless otherwise stated in the Copyright Information section above, this material may be used freely for educational and academic purposes. It may not be used in any way for profit. PLL v6.0 (generated September, 2011) 4 http://oll.libertyfund.org/title/965 Online Library of Liberty: Capital: A Critique of Political Economy. Volume I: The Process of Capitalist Production Table Of Contents Editor's Note to the First American Edition By Ernest Untermann Author's Prefaces to the First and Second Editions, By Karl Marx I.—TO The First Edition. II.—TO The Second Edition. Editor's Prefaces, to the First English Translation and Fourth German Edition By Frederick Engels Editor's Preface to the First English Translation. Editor's Preface to the Fourth German Edition. Volume I. The Process of Capitalist Production. Book I. Capitalist Production. Part I. Commodities and Money. Part I, Chapter I Commodities. Section 1.—THE Two Factors of a Commodity: Use-value and Value (the Substance of Value and the Magnitude of Value). Section 2.—THE Twofold Character of the Labour Embodied In Commodities. Section 3.—THE Form of Value Or Exchange Value. A. Elementary Or Accidental Form of Value. 1. the Two Poles of the Expression of Value: Relative Form and Equivalent Form. 2. the Relative Form of Value. (a.) the Nature and Import of This Form. (b.) Quantitative Determination of Relative Value. 3. the Equivalent Form of Value. 4. the Elementary Form of Value Considered As a Whole. B. Total Or Expanded Form of Value. 1. the Expanded Relative Form of Value. 2. the Particular Equivalent Form. 3. Defects of the Total Or Expanded Form of Value. C. the General Form of Value. 1. the Altered Character of the Form of Value. 2. the Interdependent Development of the Relative Form of Value, and of the Equivalent Form. 3. Transition From the General Form of Value to the Money Form. D. the Money Form. Section 4.—THE Fetishism of Commodities and the Secret Thereof. Part I, Chapter Ii Exchange. Part I, Chapter Iii Money, Or the Circulation of Commodities. Section 1. The Measure of Values. Section 2.—THE Medium of Circulation. A. the Metamorphosis of Commodities. B. the Currency 82 of Money. C. Coin and Symbols of Value. Section 3.—MONEY. A. Hoarding. PLL v6.0 (generated September, 2011) 5 http://oll.libertyfund.org/title/965 Online Library of Liberty: Capital: A Critique of Political Economy. Volume I: The Process of Capitalist Production B. Means of Payment. C. Universal Money. Part II. the Transformation of Money Into Capital. Part Ii, Chapter Iv the General Formula For Capital. Part Ii, Chapter V Contradictions In the General Formula of Capital. Part Ii, Chapter Vi the Buying and Selling of Labour-power. Part III. the Production of Absolute Surplus-value. Part Iii, Chapter Vii the Labour-process and the Process of Producing Surplus- value. Section 1.—THE Labour-process Or the Production of Use-values. Section 2.—THE Production of Surplus-value. Part Iii, Chapter Viii Constant Capital and Variable Capital Part Iii, Chapter Ix the Rate of Surplus-value. Section 1.—THE Degree of Exploitation of Labour-power. Section 2.—THE Representation of the Components of the Value of the Product By Corresponding Proportional Parts of the Product Itself. Section 3.—SENIOR'S "last Hour." Section 4.—SURPLUS Produce Part Iii, Chapter X the Working Day Section 1—the Limits of the Working Day Section 2.—THE Greed For Surplus Labor, Manufacturer and Boyard Section 3.—BRANCHES Of English Industry Without Legal Limits to Exploitation Section 4.—DAY And Night Work. the Relay System Section 5.—THE Struggle For a Normal Working Day. Compulsory Laws For the Extension of the Working Day From the Middle of the 14th to the End of the 17th Century Section 6.—THE Struggle For the Normal Working Day. Compulsory Limitation By Law of the Working Time. the English Factory Acts, 1833 to 1864. Section 7.—THE Struggle For the Normal Working-day. Re-action of the English Acts On Other Countries. Part Iii, Chapter Xi Rate and Mass of Surplus-value. Part IV. Production of Relative Surplus-value. Part Iv, Chapter Xii the Concept of Relative Surplus-value. Part Iv, Chapter Xiii Co-operation. Part Iv, Chapter Xiv Division of Labour and Manufacture. Section 1.—TWOFOLD Origin of Manufacture. Section 2.—THE Detail Labourer and His Implements. Section 3.—THE Two Fundamental Forms of Manufacture: Heterogeneous Manufacture, Serial Manufacture. Section 4.—DIVISION Of Labour In Manufacture, and Division of Labour In Society. Section 5.—THE Capitalistic Character of Manufacture. Part Iv, Chapter Xv Machinery and Modern Industry. Section 1.—THE Development of Machinery. Section 2.—THE Value Transferred By Machinery to the Product Section 3.—THE Approximate Effects of Machinery On the Workman. PLL v6.0 (generated September, 2011) 6 http://oll.libertyfund.org/title/965 Online Library of Liberty: Capital: A Critique of Political Economy. Volume I: The Process of Capitalist Production A. Appropriation of Supplementary Labour-power By Capital. the Employment of Women and Children. B. Prolongation of the Working-day. C. Intensification of Labour Section IV.—THE Factory Section 5.—THE Strife Between Workman and Machine Section 6.—THE Theory of Compensation As Regards the Workpeople Displaced By Machinery. Section 7.—REPULSION And Attraction of Workpeople By the Factory System. Crisis In the Cotton Trade. Section 8.—REVOLUTION Effected In Manufacture, Handicrafts. and Domestic Industry By Modern Industry. A. Overthrow of Co-operation Based On Handicraft and On the Division of Labour. B. Re-action of the Factory System On Manufacture and Domestic Industries. C. Modern Manufacture. D. Modern Domestic Industry. E. Passage of Modern Manufacture, and Domestic Industry Into Modern Mechanical Industry. the Hastening of This Revolution By the Application of the Factory Acts to Those Industries. Section 9.—THE Factory Acts. Sanitary and Education Clauses of the Same. Their General Extension In England. Section 10.—MODERN Industry and Agriculture. Part V. the Production of Absolute and of Relative Surplus-value. Part V, Chapter Xvi Absolute and Relative Surplus-value. Part V, Chapter Xvii Changes of Magnitude In the Price of Labour-power and In Surplus-value. 1. Length of the Working Day and Intensity of Labour Constant. Productiveness of Labour Variable. II. Working-day Constant. Productiveness of Labour Constant. Intensity of Labour Variable. III. Productiveness and Intensity of Labour Constant.
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