Karl Marx - The Capital volumes 1-3

The central driving force of capitalism, according to Marx, was in the exploitation and alienation of labour. The ultimate source of the new profits and value-added was that employers paid workers the market value of their labour-capacity, but the value of the commodities workers produced exceeded that market value. Employers were entitled to appropriate the new output value because of their ownership of the productive capital assets. By producing output as capital for the employers, the workers constantly reproduced the condition of capitalism by their labour.



However, though Marx is very concerned with the social aspects of commerce, his book is not an ethical treatise, but an attempt to explain the objective "laws of motion" of the capitalist system as a whole, its origins and future. He aims to reveal the causes and dynamics of the accumulation of capital, the growth of wage labour, the transformation of the workplace, the concentration of capital, competition, the banking and credit system, the tendency of the rate of profit to decline, land-rents and many other things.



Summary by Wikipedia, GNU FDL



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