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Wage labour and capital
Image 43
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Marx, Karl, 1818-1883. Wage labour and capital - Image 43. 1932. Special Collections, University of Houston Libraries. University of Houston Digital Library. Web. June 1, 2020. https://digital.lib.uh.edu/collection/scpamp/item/4652/show/4642.

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 43. Socialist and Communist Pamphlets. Special Collections, University of Houston Libraries. Retrieved from https://digital.lib.uh.edu/collection/scpamp/item/4652/show/4642

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 43, 1932, Socialist and Communist Pamphlets, Special Collections, University of Houston Libraries, accessed June 1, 2020, https://digital.lib.uh.edu/collection/scpamp/item/4652/show/4642.

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 43
Format (IMT)
  • image/jpeg
File Name uhlib_2981922_042.jpg
Transcript EFFECT OF GROWTH OF CAPITAL ON WAGES 41 constant improvement of machinery. The larger the army of workers among whom the labour is subdivided, the more gigantic the scale upon which machinery is introduced, the more in proportion does the cost of production decrease, the more fruitful is the labour. And so there arises among the capitalists a universal rivalry for the increase of the division of labour and of machinery and for their exploitation upon the greatest possible scale. If, now, by a greater division of labour, by the application and improvement of new machines, by a more advantageous exploitation of the forces of nature on a larger scale, a capitalist has found the means of producing with the same amount of labour (whether it be direct or accumulated labour) a larger amount of products of commodities than his competitors—if, for instance, he can produce a whole yard of linen in the same labour-time in which his competitors weave half a yard—how will this capitalist act? He could keep on selling half a yard of linen at the old market price; but this would not have the effect of driving his opponents from the field and enlarging his own market. But his need of a market has increased in the same measure in which his productive power has extended. The more powerful and costly means of production that he has called into existence enable him, it is true, to sell his wares more cheaply, but they compel him at the same time to sell more wares, to get control of a very much greater market for his commodities; consequently, this capitalist will sell his half yard of linen more cheaply than his competitors. But the capitalist will not sell the whole yard so cheaply as his competitors sell the half yard, although the production of the whole yard costs no more to him than does that of the half yard to the others. Otherwise he would make no extra profit, and would get back in exchange only the cost of production. He might obtain a greater income from having set in motion a larger capital, but not from having made a greater profit on his capital than the others. Moreover, he attains the object he is aiming at if he prices his goods only a small percentage lower than his competitors. He drives them off the field, he wrests from them at least a part of their market, by underselling them. And finally, let us remember that the current price always stands either above or below the cost of production, according as the sale of a commodity takes place in the favourable or un- e y s - 1 1 1 r 1 1 ) E 5