Wage, Labour, Capital And Value, Price, Profit _ Karl Marx

WAGE, LABOUR AND CAPITAL  and VALUE, PRICE AND PROFIT

KARL MARX

1933

1935

Pages : 62

Since their first appearance as separate brochures Wage, Labour and Capital and Value, Price and Profit have served as popular introductions to the study of political economy, each complementing the other. The first is based on lectures delivered by Marx before the German Workingmen's Club of Brussels in 1847, the second is an address by Marx before two sessions of the General Council of the First International in London in 1865. Both classics are included in this volume. Value, Price and Profit will be

found in the second half of the book.

WAGE, LABOUR AND CAPITAL

INTRODUCTION  5

CHAPTER

I. PRELIMINARY 15

II. WHAT ARE WAGES ? 17

III. BY WHAT IS THE PRICE OF A COMMODITY DETERIMINED?  21

IV. BY WHAT ARE WAGES DETERMINED ? 26

V. THE NATURE AND GROWTH OF CAPITAL  28

VI. RELATION OF WAGE-LABOUR TO CAPITAL 31

VII. THE GENERAL  LAW THAT DETERMINES THE RISE AND FALL OF WAGES AND PROFITS . 36

VIII. THE INTERESTS OF CAPITAL AND WAGE-LABOUR ARE DIAMETRICALLY OPPOSED EFFECT OF GROWTH OF PRODUCTIVE CAPITAL ON WAGES  39

IX. EFFECT OF CAPITALIST COMPETITION ON THE CAPITALIST CLASS, THE MIDDLE CLASS, AND THE WORKING CLASS  43

VALUE, PRICE AND PROFIT

Value, Price and Profit is here published in the original version as delivered by Marx in English and edited by his daughter, E leanor  Marx Aveling. The introduction and notes are by the Marx-Engels-Lenin Institute.

INTRODUCTION

PRELIM INARY

CHAPTER

I. PRODUCT AND WAGES  9

II. PRODUCTION, WAGES, PROFITS  12

III. WAGES AND CURRENCY 21

IV. SUPPLY AND DEMAND 24

V. WAGES AND PRICES 26

VI. VALUE AND LABOUR 29

VII. LABOURING POWER 37

VIII. PRODUCTION OF SURPLUS VALUE 40

IX. VALUE OF LABOUR 42

X. PROFIT IS MADE BY SELLING A COMMODITY AT ITS VALUE  44

XI. THE DIFFERENT PARTS INTO WHICH SURPLUS VALUE IS DECOMPOSED 45

XII. GENERAL RELATION OF PROFITS, WAGES AND PRICES 48

XIII. MAIN CASES OF ATTEMPTS AT RAISING WAGES OR RESISTING THEIR FALL 50

XIV. THE STRUGGLE BETWEEN CAPITAL AND LABOUR AND ITS RESULTS  56