The Capital by Karl Marx “Ce qu’il y a de certain c’est que moi, je ne suis pas Marxiste.” “If anything is certain, it is that I myself am not a Marxist.“ (Marx to Lafargue in 1882) The Capital by Karl Marx A presentation by Tibor Lohmann And Emanuel Hausmann

The Capital Volume I Part One: Commodities And Money “Is something independent of ourselves that meets a human want or need of any kind” “USE-Value” “Exchange-Value” Value of Commodity is Determined by its Socially Necessary Labour time Socially necessary labor time is defined by “the labor time required to produce any use-value under the conditions of production normal for a given society and with the average degree of skill and intensity of labor prevalent in that society.” The Capital Volume I

The Process of Exchange "humans are made for each other to be holders or representatives of commodities.“ “Money necessarily crystallizes out of the process of exchange, in which different products of labour are in fact equated with each other, and thus converted into commodities.” "Men are henceforth related to each other in their social process of production in a purely atomistic way. ... because the products of men's labour universally take on the form of commodities."[

The Transformation of Money into Capital C-M-C is the simple form of circulation “selling in order to buy” M-C-M is the capital-generating form “buying in order to sell” “Circulation, or the exchange of commodities, creates no value”.

The Production of Absolute-Surplus Value Capitalism and the labor process The worker works under the control of the capitalist to whom his labor belongs. The product is the property of the capitalist and not that of the worker—the person who made the product. Constant Capital and Variable Capital Constant Capital: “That part of capital, therefore, which is turned into means of production, i.e. the raw material, the auxiliary material and the instruments of labor, does not undergo any quantitative alteration of value in the process of production.”

The Working Day A working day can never be reduced to necessary labor time only Factors that limit the maximum length of the working day: physical limits Worker must rest, eat, sleep, etc. “The worker needs time in which to satisfy his intellectual and social requirements, and the extent and the number of these requirements is conditioned by the general level of civilization.”

Part 5 Chapters 16-18 Absolute and Relative Surplus Value and their relation to societies now and then Surplus value is the difference between the value the worker creates and the wage he earns Marx shows the necessity of Surplus value for capitalism

Part 6 Chapters 19-21 Transformation of working power into wage Possible exploitation of workers by capitalists Time-wage and Piece-wage

Part 7 Chapters 22-25 Accumulation and inreasement rate of capital Marx predicts financial crises! Relation of consumption and production Labor value and means of production Risk of overproduction as a result

Part 8 Chapters 26-33 Theory of ancient primitive accumulation History of capitalism The Genesis of the capitalist farmer and the industrial capitalist Colonization as a form of capital accumulation

Volume 2 and 3 Friedrich Engels published Marx‘s manuscripts after he died