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Wage labour and capital
Image 24
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Marx, Karl, 1818-1883. Wage labour and capital - Image 24. 1932. Special Collections, University of Houston Libraries. University of Houston Digital Library. Web. July 9, 2020. https://digital.lib.uh.edu/collection/scpamp/item/4652/show/4623.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Marx, Karl, 1818-1883. (1932). Wage labour and capital - Image 24. Socialist and Communist Pamphlets. Special Collections, University of Houston Libraries. Retrieved from https://digital.lib.uh.edu/collection/scpamp/item/4652/show/4623

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Marx, Karl, 1818-1883, Wage labour and capital - Image 24, 1932, Socialist and Communist Pamphlets, Special Collections, University of Houston Libraries, accessed July 9, 2020, https://digital.lib.uh.edu/collection/scpamp/item/4652/show/4623.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

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Compound Item Description
Title Wage labour and capital
Creator (LCNAF)
  • Marx, Karl, 1818-1883
Contributor (LCNAF)
  • Engels, Friedrich, 1820-1895
Publisher International Publishers
Place of Creation (TGN)
  • New York, New York
Date 1932
Subject.Topical (LCSH)
  • Wages
  • Capital
Genre (AAT)
  • pamphlets
Language English
Type (DCMI)
  • Text
Original Item Extent 48 pages; 20 cm
Original Item Location HB301.M3813 1932
Original Item URL http://library.uh.edu/record=b8302360~S11
Original Collection Socialist and Communist Pamphlets
Digital Collection Socialist and Communist Pamphlets
Digital Collection URL http://digital.lib.uh.edu/collection/scpamp
Repository Special Collections, University of Houston Libraries
Repository URL http://libraries.uh.edu/branches/special-collections
Use and Reproduction In Copyright: This item is protected by copyright. Copyright to this resource is held by the creator or current rights holder, and the resource is provided here for educational purposes. It may not be reproduced or distributed in any format without permission of the copyright owner. Users assume full responsibility for any infringement of copyright or related rights.
Note Translation of Lohnarbeit und Kapital.
File Name index.cpd
Item Description
Title Image 24
Format (IMT)
  • image/jpeg
File Name uhlib_2981922_023.jpg
Transcript 22 WAGE-LABOUR AND CAPITAL the whole one hundred bales. This example is no arbitrary supposition. In the history of commerce we have experienced periods of scarcity of cotton, when some capitalists united together and sought to buy up not one hundred bales, but the whole cotton supply of the world. In the given case, then, one buyer seeks to drive the others from the field by offering a relatively higher price for the bales of cotton. The cotton sellers, who perceive the troops of the enemy in the most violent contention among themselves, and who therefore are fully assured of the sale of their whole one hundred bales, will beware of pulling one another's hair in order to force down the price of cotton at the very moment in which their opponents race with one another to screw it up high. So, all of a sudden, peace reigns in the army of sellers. They stand opposed to the buyers like one man, fold their arms in philosophic contentment and their claims would find no limit did not the offers of even the most importunate of buyers have a very definite limit. If, then, the supply of a commodity is less than the demand for it, competition among the sellers is very slight, or there may be none at all among them. In the same proportion in which this competition decreases, the competition among the buyers increases. Result: a more or less considerable rise in the prices of commodities. It is well known that the opposite case, with opposite result, happens more frequently. Great excess of supply over demand; desperate competition among the sellers, and a lack of buyers; forced sales of commodities at ridiculously low prices. But what is a rise, and what a fall of prices ? What is a high, and what a low price ? A grain of sand is high when examined through a microscope, and a tower is low when compared with a mountain. And if the price is determined by the relation of supply and demand, by what is the relation of supply and demand determined ? Let us turn to the first worthy citizen we meet. He will not hesitate one moment, but, like another Alexander the Great, will cut this metaphysical knot with his multiplication table. He will say to us: "If the production of the commodities which I sell has cost me one hundred pounds, and out of the sale of these goods I make one hundred and ten pounds—within the year, you under-