SOCIOL 101 Lecture Notes - Lecture 6: Labour Power, Investment, Constant Capital
Document Summary
Part seven: process of accumulation of capital (marx, engels) Thinks about overall dynamics of capitalist system. Reproduction = how a social system sustains itself, maintains it existence. Capitalist takes money they got at the end and use it to buy new means of production and buy more labor. They can live off surplus value that workers are producing and take original capital to reinvest (don"t need to reinvest surplus value) Capital doesn"t grow, but they can still live without working . Workers give capitalists their commodity before they are given money to purchase the commodity. Normally, you take money at the same time you buy something. First, worker works then, capitalist gives wage to workers. Only after capitalist benefits off labor, they give wages to worker. Workers are giving capitalists value but then only getting a portion of the value they produced / created for capitalist. Capitalists are paying laborers today out of values laborers produced yesterday.
