Abstract: Abstract At the core of Marxist political economy is the idea that capitalism is highly dynamic and inevitably expansionary through accumulation. Exclaiming, “Accumulate, accumulate! That is Moses and the prophets,” Marx (1967), in Volume One of Capital , defined the most important driving force and the inner law of motion of the capitalist mode of production. What makes capitalism tick is not only that capitalists make a profit by exploiting workers, but that they reinvest part of the profit in further production. Capitalists are forced to act in that way as a result of competition. The rule that governs the behavior of all capitalists is, then, “accumulation for accumulation sakes, production for production sakes” (Marx 1967: 595). The inner logic of capitalism is thus not only to “work for profit,” but also to “work for capital accumulation.”
Publication Year: 2012
Publication Date: 2012-02-29
Language: en
Type: other
Indexed In: ['crossref']
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