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Study Guides - Marx, Capital Summary pp. 93-204 Click to...

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Click to edit Master subtitle style 4/28/11 Marx, Capital Summary pp. 93-204
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4/28/11 The capitalist can only make a profit (surplus value) by exploiting laborers. Exploitation: a worker sells his labor for a whole day; but once the worker has worked to pay for his own subsistence (necessary labor time) the remaining time is pure profit for his employer (surplus labor time). The cycle of capital has no limits. It must constantly expand or die. Capital, and thereby money-making, does not exist without an inequality between capitalist (bourgeoisie) and laborer (proletariat). The mode of capitalist production can only occur when laborers are free to sell their labor on the open market as a commodity.
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4/28/11 Unlike like Locke, Marx argues that the inequality between capitalist and laborer has no natural basis. Agreeing with Adam Smith, Marx holds that the only thing that brings buyer and seller together is mutual greed. However, Marx does not believe, as Smith does, that when each individual pursues his own self interest, society as a whole will benefit.
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Study Guides - Marx, Capital Summary pp. 93-204 Click to...

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