Understanding Karl Marx's Economic Magnum Opus

Karl Marx's groundbreaking treatise, "Capital," stands as a seminal work in the annals of economic and political thought. Its profound insights into the dynamics of capitalism have sparked heated debates and influenced countless revolutions around the globe. This comprehensive reader provides an accessible and engaging to Marx's magnum opus, offering a roadmap through its complex theories and historical context.

Chapter 1: The Commodity and Money

Marx's Capital: An Introductory Reader

by Vijay Prashad

5 out of 5

Language	:	English
File size	:	1119 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	196 pages
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Marx's analysis begins with an examination of the commodity, the fundamental unit of capitalist production. He argues that commodities possess both use-value (their intrinsic utility) and exchange-value (their monetary worth). Money, in turn, serves as a universal equivalent that facilitates the exchange of commodities.

Chapter 2: The Value of Labor

The concept of labor-power forms the cornerstone of Marx's theory. Labor-power, Marx posits, is a commodity that workers sell to capitalists in exchange for a wage. However, the value of labor-power is determined not by the amount of time worked, but by the socially necessary labor required to produce it.

Chapter 3: Surplus Value

Marx argues that the capitalist mode of production generates surplus value, the difference between the value of what workers produce and the cost of their labor-power. Surplus value is extracted by capitalists through a process known as exploitation. This exploitation is the driving force behind the accumulation of capital.

Chapter 4: Accumulation and Crises

Marx traces the historical development of capitalism, showing how the relentless pursuit of profit leads to accumulation. However, this accumulation also creates contradictions that inevitably lead to economic crises. Marx predicts that capitalism is inherently unstable and will ultimately be replaced by a socialist society.

Chapter 5: The Historical Materialist Perspective

Marx's analysis of capitalism is based on his theory of historical materialism. This perspective views human history as a series of class struggles, in which the dominant mode of production shapes the social, political, and intellectual superstructure.

Chapter 6: The Critique of Political Economy

Marx's critique of political economy extends beyond its economic insights. He argues that capitalist ideology legitimizes the exploitation of workers and obscures the true nature of value. Marx aims to expose the contradictions and alienation inherent in capitalism.

"Marx's Capital: An Introductory Reader" offers an indispensable to one of the most influential works in social science. By understanding Marx's theories, readers gain a deeper comprehension of the workings of capitalism, the dynamics of class struggle, and the potential for social transformation. This comprehensive guide empowers readers to grapple with Marx's ideas and engage with the ongoing debates surrounding his legacy.

Marx's Capital: An Introductory Reader

by Vijay Prashad

5 out of 5

Language	:	English
File size	:	1119 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	196 pages
Lending	:	Enabled

FREE