,*APT] #a 
,! ,QUE/IONS ,AT ,ISSUE 

,PEOPLE 3 

,AU?OR 3 ,ROSA ,LUXEMBURG 

,TEXT 3 

,FIR/ ,PUBLI%$3 #aiba - ,DIE ,AKKUMULATION DES ,KAPITALS OD] ,WAS DIE ,EPIGON5 AUS D] ,M>XS*5 ,!ORIE GEMA*T HAB54 ,E9E ,ANTIKRITIK 7,FRANKE1 ,LEIPZIG #a#i#b#a74 
,ORIG9ALLY WRITT53#a#i#a#e :ILE 9T]N$ 9 ! WOM5'S PRISON1 ,B>NIM/RASSE1 ,B]L94 
,S\RCE3 ,ROSA ,LUXEMBURG & ,NIKOLAI ,BUKH>93 ,IMP]IALISM & ! ,ACCUMULATION ( ,CAPITAL4 ,$IT$ ) AN ,9TRODUCTION BY ,K5NE? ,J4 ,T>BUCK4 7,ALL5 ,LANE ,! ,P5GU9 ,PRESS1 ,LONDON #a#i#g#b71 PP4#d#e-#a#e4 
,TRANSLAT$3 7FROM ! ,G]MAN7 BY ,RUDOLF ,WI*MANN4 
,TRANSCRIPTION_/,M>KUP3 ,/EVE ,PALM]4 
,COPYRI<T3 ,K5NE? ,J4 ,T>BUCK & ,RUDOLF ,WI*MANN #a#i#g#b4 
,NOTES3 ,NOTES BY ! $ITOR & TRANSLATOR APPE> .<?US.>4 ,M,I,A NOTES APPE> _<?US_>4 

,HAB5T SUA FATA LIBELLI - BOOKS HAVE !IR FATES4 ,:5 ,I WROTE MY ,ACCUMULATION A ?\<T DEPRESS$ ME FROM TIME TO TIME3 ALL FOLL[]S ( ,M>XI/ DOCTR9E W\LD DECL>E ?AT ! ?+S ,I WAS TRY+ TO %[ & C>EFULLY SUB/ANTIATE W]E SELF-EVID5T4 ,NOBODY W\LD VOICE A DIFF]5T OP9ION2 MY SOLUTION ( ! PROBLEM W\LD BE ! ONLY POSSIBLE ONE IMAG9ABLE4 ,IT TURN$ \T V]Y DIFF]5TLY3 A NUMB] ( CRITICS 9 ! ,SOCIAL ,DEMOCRATIC PRESS DECL>$ ?AT ! BOOK WAS TOTALLY MISGUID$ TO />T ) & ?AT SU* A PROBLEM CALL+ = SOLUTION DID NOT EXI/ AT ALL4 ,I HAD BECOME ! PITIFUL VICTIM ( A PURE MISUND]/&+4 ,!RE W]E EV5TS CONNECT$ ) ! PUBLICATION ( MY BOOK :I* MU/ BE CALL$ RA!R UNUSUAL4 ,! 'REVIEW' ( ! ,ACCUMULATION :I* APPE>$ 9 ,VORW>TS.<#a.> ( #af ,FEBRU>Y #aiac WAS /RIK+ 9 TONE & CONT5T EV5 TO ! LESS 9VOLV$ READ]2 & ALL ! MORE A/ONI%+ S9CE ! CRITICIZ$ BOOK IS PURELY !ORETICAL & /RICTLY OBJECTIVE1 & DIRECT$ AGA9/ NO LIV+ ,M>XI/4 ,NOT 5\<4 ,AGA9/ ?OSE :O HAD PUBLI%$ A POSITIVE REVIEW ( ! BOOK A HI<H&$ ACTION WAS TAK5 BY ! C5TRAL ORGAN4 ,A QUITE UNIQUE & SOMEH[ FUNNY EV5T - A PURELY !ORETICAL /UDY ON AN AB/RACT SCI5TIFIC PROBLEM WAS C5SUR$ BY ! 5TIRE /AFF ( A POLITICAL DAILY PAP] 7( :OM PROBABLY TWO AT ! MO/ MAY HAVE READ ! BOOK74 ,!Y DID ?IS BY D5Y+ TO M5 LIKE ,FRANZ ,MEHR+.<#b.> & ,J4 ,K>SKI.<#c.> ANY EXP]T KN[L$GE ( ECONOMICS1 BUT ALL[$ ONLY ?OSE :O PULL$ MY BOOK TO PIECES TO BE 'EXP]TS'4 ,SU* A FATE HAS HAPP5$ TO NO O!R P>TY PUBLICATION AS F> AS ,I KN[ & OV] ! DECADES ,SOCIAL ,DEMOCRATIC PUBLI%]S HAVE C]TA9LY NOT PRODUC$ ALL GOLD & PE>LS4 ,ALL !SE EV5TS CLE>LY 9DICATE ?AT !RE HAVE BE5 O!R PASSIONS T\*$ ON1 ONE WAY OR ANO!R1 ?AN 'PURE SCI5CE'4 ,BUT TO JUDGE ?AT PROP]LY ONE HAS FIR/ TO KN[ AT LEA/ ! MA9 PO9TS ( ! MAT]IAL 9 QUE/ION4 

,:AT IS ?IS SO VEHEM5TLY OPPOS$ BOOK AB\T8 

,TO ! READ+ PUBLIC SOME EXT]NAL ACCESSORIES LIKE FREQU5TLY US$ MA!MATICAL =MULAS SEEM TO BE A GREAT DET]R5T4 ,9 ! CRITICISM ( MY BOOK !SE =MULAS >E ESPECIALLY ! FOCUS4 ,SOME ( ! E/EEM$ CRITICS HAVE UND]TAK5 TO TEA* ME A LESSON BY CON/RUCT+ NEW & EV5 MORE COMPLICAT$ =MULAS4 ,! %E] SI<T ( !M BR+S QUIET HORROR TO ! ORD9>Y MORTAL4 ,WE %ALL SEE ?AT MY CRITICS' PREF]5CE = ! =MULAS IS NOT A MATT] ( *ANCE1 BUT L9K$ V]Y CLOSELY TO !IR PO9TS ( VIEW ON ! SUBJECT4 ,YET ! PROBLEM ( ACCUMULATION IS ITSELF PURELY ECONOMIC & SOCIAL2 IT DOES NOT HAVE ANY?+ TO DO ) MA!MATICAL =MULAS & ONE CAN DEMON/RATE & COMPREH5D IT )\T !M4 ,M>X USES CON/RUCT$ MA!MATICAL MODELS 9 ! SECTION ON REPRODUCTION ( ! GROSS SOCIAL CAPITAL 9 HIS ,CAPITAL1 SO DID ,QUESNAY1 ! F\ND] ( ! PHYSIOCRATIC S*OOL ( ECONOMICS.<#d.> AS AN EXACT SCI5CE A HUNDR$ YE>S BE=E4 ,BUT ?AT WAS SIMPLY TO HELP 9 EXPLA9+ & CL>IFY+ !IR !ORIES4 ,IT ALSO ASSI/$ ,M>X AS WELL AS ,QUESNAY TO ILLU/RATE ?AT ! ECONOMIC PROCESSES ( B\RGEOIS SOCIETY >E AS MU* DET]M9$ BY /RICT LAWS AS ! PROCESSES ( PHYSICAL NATURE1 9 SPITE ( SUP]FICIAL CONFUSION & ! APP>5T RULE ( 9DIVIDUAL CAPRICE4 ,MY WRIT+S >E P>TLY BAS$ ON ,M>X1 P>TLY CRITICAL ( HIM - ESPECIALLY :]E HE DOES NOT GO ANY FUR!R 9TO ! QUE/ION ( ACCUMULATION ?AN TO DEVISE A FEW MODELS & SUGGE/ AN ANALYSIS4 ,?IS IS :]E MY CRITIQUE BEG9S1 & SO ,I MU/ NATURALLY USE ,M>X'S =MULAS ) ,M>X'S MODELS4 ,I C\LD NOT >BITR>ILY OMIT !M & ,I WANT$ ESPECIALLY TO %[ ! 9SUFFICI5CY ( HIS L9E ( >GUM5T4 

,LET US N[ TRY TO UND]/& ! PROBLEM 9 ITS SIMPLE/ =M3 ! CAPITALI/ =M ( PRODUCTION IS GOV]N$ BY ! PR(IT MOTIVE4 ,PRODUCTION ONLY MAKES S5SE TO ! CAPITALI/ IF IT FILLS HIS POCKETS ) 'PURE 9COME'1 I4E4 ) PR(IT ?AT REMA9S AFT] ALL HIS 9VE/M5TS2 BUT ! BASIC LAW ( CAPITALI/ PRODUCTION IS NOT ONLY PR(IT 9 ! S5SE ( GLITT]+ BULLION1 BUT CON/ANTLY GR[+ PR(IT4 ,?IS IS :]E IT DIFF]S FROM ANY O!R ECONOMIC SY/EM BAS$ ON EXPLOITATION4 ,= ?IS PURPOSE ! CAPITALI/ - AGA9 9 CONTRA/ TO O!R HI/ORICAL TYPES ( EXPLOIT]S - USES ! FRUITS ( EXPLOITATION NOT EXCLUSIVELY1 & NOT EV5 PRIM>ILY1 = P]SONAL LUXURY1 BUT MORE & MORE TO 9CREASE EXPLOITATION ITSELF4 ,! L>GE/ P>T ( ! PR(ITS GA9$ IS PUT BACK 9TO CAPITAL & US$ TO EXP& PRODUCTION4 ,! CAPITAL ?US M\NTS UP OR1 AS ,M>X CALLS IT1 'ACCUMULATES'4 

,AS ! PRECONDITION AS WELL AS ! CONSEQU5CE ( ACCUMULATION1 CAPITALI/ PRODUCTION WID5S PROGRESSIVELY4 ,TO DO ?IS1 ! GOODWILL ( ! CAPITALI/ IS NOT SUFFICI5T4 ,! PROCESS IS TI$ TO OBJECTIVE SOCIAL CONDITIONS :I* CAN BE SUMM$ UP AS FOLL[S4 ,PRIM>ILY1 !RE MU/ BE A SUFFICI5T LABOR =CE4 ,HI/ORICALLY1 ONCE CAPITALI/ PRODUCTION IS FUNCTION+ & FAIRLY CONSOLIDAT$1 CAPITAL 5SURES ?IS ?R\< ITS [N ME*ANISMS3 

BY JU/ 5ABL+ ! WORK] TO SUPPORT HIMSELF = FUR!R EXPLOITATION & = REPRODUCTION2 

BY =M+ A CON/ANTLY AVAILABLE RES]VE >MY ( ! 9DU/RIAL PROLET>IAT BY ! PROLET>IANIZATION ( ! MIDDLE CLASS AS WELL AS BY FAC+ ! WORK] ) ! COMPETITION ( MA*9ES4 

,AFT] ?IS CONDITION IS FULFILL$1 I4E4 ! PROLET>IAT IS SECURELY AVAILABLE = EXPLOITATION & ! ME*ANISMS OR EXPLOITATION ITSELF >E GOV]N$ BY ! WAGE SY/EM1 A NEW BASIC CONDITION ( CAPITAL ACCUMULATION EM]GES - ! POSSIBILITY ( SELL+ ! GOODS PRODUC$ BY ! WORK]S TO RECOV]1 9 MONEY1 ! CAPITALI/'S ORIG9AL EXP5SES AS WELL AS ! SURPLUS VALUE /OL5 FROM ! LABOR =CES4 ',! FIR/ CONDITION ( ACCUMULATION IS ?AT ! CAPITALI/ MU/ HAVE CONTRIV$ TO SELL HIS COMMODITIES1 & TO RECONV]T 9TO CAPITAL ! GREAT] P>T ( ! MONEY SO RECEIV$4'.<#e.> ,A /EADILY 9CREAS+ POSSIBILITY ( SELL+ ! COMMODITIES IS 9DISP5SABLE 9 ORD] TO KEEP ! ACCUMULATION A CONT9U\S PROCESS4 ,CAPITAL ITSELF 7AS WE SEE7 CREATES ! BASIC CONDITION = EXPLOITATION4 ,! FIR/ VOLUME ( ,M>X'S ,CAPITAL ANALYZ$ & DESCRIB$ ?IS PROCESS 9 DETAIL4 ,BUT :AT AB\T ! OPPORTUNITIES ( REALIZ+ ! FRUITS ( ?IS EXPLOITATION2 :AT AB\T ! M>KET8 ,:AT DO !Y DEP5D ON8 ,CAN CAPITAL ITSELF1 OR ITS PRODUCTION ME*ANISMS1 EXP& ITS M>KET ACCORD+ TO ITS NE$S1 9 ! SAME WAY ?AT IT ADJU/S ! NUMB] ( WORK]S ACCORD+ TO ITS DEM&8 ,NOT AT ALL4 ,H]E CAPITAL DEP5DS ON SOCIAL CONDITIONS4 ,CAPITALI/ PRODUCTION HAS ?IS 9 COMMON ) ALL O!R HI/ORICAL =MS ( PRODUCTION1 9 SPITE ( FUNDAM5TAL DIFF]5CES BETWE5 !M4 ,OBJECTIVELY IT HAS TO FULFILL ! MAT]IAL NE$S ( SOCIETY1 AL?\< SUBJECTIVELY ONLY ! PR(IT MOTIVE MATT]S4 ,?IS SUBJECTIVE AIM CAN ONLY BE REA*$ SO LONG AS CAPITAL FULFILLS ITS OBJECTIVE TASK4 ,! GOODS CAN BE SOLD & ! 9COM+ PR(IT TURN$ 9TO MONEY ONLY IF !SE GOODS SATISFY ! REQUIREM5TS ( SOCIETY4 ,SO ! CONT9U\S EXPANSION ( CAPITALI/ PRODUCTION1 I4E4 ! CONT9U\S ACCUMULATION ( CAPITAL1 IS L9K$ TO ! EQUALLY CONT9U\S GR[? ( SOCIAL REQUIREM5TS4 ,BUT :AT >E ! REQUIREM5TS ( SOCIETY8 ,CAN !Y SOMEH[ BE MORE CLOSELY DEF9$1 MEASUR$1 OR MU/ WE DEP5D ONLY ON ?IS VAGUE T]M8 ,9 FACT1 !Y SEEM 9TANGIBLE IF ONE SURVEYS !-SURFACE ( DAY-TO-DAY ECONOMIC LIFE FROM ! /&PO9T ( ! 9DIVIDUAL CAPITALI/4 ,A CAPITALI/ PRODUCES & SELLS MA*9ES4 ,HIS CU/OM]S >E O!R CAPITALI/S1 :O BUY HIS MA*9ES TO PRODUCE MORE GOODS4 ,! ONE CAN SELL MORE ( HIS GOODS AS ! O!RS EXP& !IR PRODUCTION4 ,HE CAN ACCUMULATE FA/] IF O!RS ACCUMULATE FA/] 9 !IR BRAN*ES ( PRODUCTION4 ,?IS W\LD BE ! 'REQUIREM5TS ( SOCIETY' ON :I* \R CAPITALI/ IS DEP5D5T3 ! NE$ ( O!R CAPITALI/S IS ! PRECONDITION = ! EXPANSION ( PRODUCTION4 ,ANO!R CAPITALI/ PRODUCES & SELLS ! MEANS ( SUBSI/5CE TO ! WORK]S4 ,! MORE WORK]S >E EMPLOY$ BY O!R CAPITALI/S 7& BY HIMSELF71 ! MORE GOODS HE CAN SELL & ! MORE CAPITAL HE CAN ACCUMULATE4 ,BUT H[ CAN ! 'O!RS' EXP& !IR PLANTS 8 ,OBVI\SLY ?R\< ! O!R CAPITALI/2 = EXAMPLE1 ! PRODUC]S ( MA*9ES1 OR MEANS ( SUBSI/5CE1 BUY+ !IR GOODS 9 9CREAS+ MEASURE4 

,SO ! SOCIAL REQUIREM5T1 ON :I* ! ACCUMULATION ( CAPITAL DEP5DS1 SEEMS AT A CLOS] LOOK TO BE ! ACCUMULATION ( CAPITAL ITSELF4 

,! MORE CAPITAL ACCUMULATES1 ! MORE IT ACCUMULATES2 IT IS ALL R$UC$ TO ?IS BLATANT TAUTOLOGY1 A DIZZY CIRCLE4 ,ONE CANNOT MAKE \T :]E IT BEG9S1 OR :]E ! IMPELL+ =CE IS4 ,WE >E TURN+ R\ND 9 CIRCLES & ! PROBLEM ELUDES \R GRASP4 ,BUT IT DOES SO ONLY = AS LONG AS WE APPROA* IT FROM ?IS SUP]FICIAL VIEWPO9T1 OR EXAM9E IT FROM ! POPUL> PLAT=M ( VULG> ECONOMICS1 9DIVIDUAL CAPITAL4 

,! PATT]N IMM$IATELY TAKES %APE IF WE APPROA* IT FROM ! /&PO9T ( TOTAL CAPITAL1 ONCE WE SEE ! PROCESS ( CAPITALI/ PRODUCTION AS A :OLE4 ,?IS IS ! ONLY RELEVANT & RI<T WAY4 ,IT IS ! /&PO9T ,M>X DEVELOPS SY/EMATICALLY = ! FIR/ TIME 9 ! SECOND VOLUME ( ,CAPITAL1 & ON :I* HE BASES HIS :OLE !ORY4 

,! SELF-SUFFICI5T EXI/5CE ( ! 9DIVIDUAL CAPITAL IS 9DE$ ONLY AN EXT]NAL =M1 ! SURFACE ( ECONOMIC LIFE1 :I* ONLY ! VULG> ECONOMI/S USE AS !IR SOLE S\RCE ( KN[L$GE4 ,B5EA? ?AT SURFACE & ?R\< ALL CONTRADICTION ( COMPETITION !RE REMA9S ! FACT ?AT ALL 9DIVIDUAL CAPITALS 9 SOCIETY =M A :OLE4 ,!N EXI/5CE & MOVEM5T >E GOV]N$ BY COMMON SOCIAL LAWS :I*1 ) ! UNPLANN$ NATURE & AN>*Y ( ! PRES5T SY/EM1 ONLY WORK BEH9D ! BACK ( ! 9DIVIDUAL CAPITALI/4 ,:5 ONE LOOKS AT CAPITALI/ PRODUCTION AS A :OLE1 !N SOCIAL REQUIREM5TS BECOME A MEASURABLE QUANTITY :I* CAN BE DIVID$ 9TO SECTIONS4 

,LET US IMAG9E ?AT ALL GOODS PRODUC$ 9 CAPITALI/ SOCIETY W]E /ACK$ UP 9 A BIG PILE AT SOME PLACE1 TO BE US$ BY SOCIETY AS A :OLE41 ,WE WILL !N SEE H[ ?IS MASS ( GOODS1 IS NATURALLY DIVID$ 9TO SEV]AL BIG PORTIONS ( DIFF]5T K9DS & DE/9ATIONS4 

,ALWAYS1 9 ANY =M ( SOCIETY1 PRODUCTION HAS TO PROVIDE TWO ?+S4 ,FIR/ IT HAS TO FE$ SOCIETY1 CLO! IT & SATISFY CULTURAL NE$S ?R\< MAT]IAL GOODS1 I4E4 IT MU/ PRODUCE ! MEANS ( SUBSI/5CE 9 ! WIDE/ S5SE ( ! WORD = ALL CLASSES & AGES4 ,SECONDLY1 EA* =M ( PRODUCTION MU/ REPLACE US$ UP RAW MAT]IALS1 TOOLS1 FACTORIES & SO ON TO ALL[ ! CONT9U$ EXI/5CE ( SOCIETY & ! PROVISION ( WORK4 ,)\T ! SATISFACTION ( !SE TWO MAJOR REQUIREM5TS ( ANY HUMAN SOCIETY1 CULTURAL DEVELOPM5T & PROGRESS W\LD BE IMPOSSIBLE4 ,EV5 CAPITALI/ PRODUCTION ) ALL ITS AN>*Y1 & )\T 9JUR+ ! PR(IT MOTIVE1 MU/ MEET !SE DEM&S4 ,ACCORD+LY WE WILL F9D 9 ?IS AGGREGATE ( CAPITALI/ COMMODITIES PRODUC$1 A L>GE PROPORTION = REPLAC+ ! MEANS ( PRODUCTION US$ UP 9 ! YE> BE=E4 ,!SE >E ! RAW MAT]IALS1 MA*9]Y1 BUILD+S1 ETC4 7:AT ,M>X CALLS CON/ANT CAPITAL7 :I* V>I\S CAPITALI/S MU/ PRODUCE = EA* O!R & !N EX*ANGE1 SO ?AT PRODUCTION CAN BE KEPT UP 9 ALL BRAN*ES4 ,ACCORD+ TO \R ASSUMPTION SO F>1 IT IS CAPITALI/ BUS9ESS ?AT PROVIDES ALL ! NECESS>Y MEANS = ! WORK PROCESS4 ,! EX*ANGE ( COMMODITIES ON ! M>KET IS AN 9T]NAL OR FAMILY MATT] BETWE5 CAPITALI/S4 ,! REQUIR$ MONEY = ?IS PROCESS1 ( C\RSE1 COMES \T ( ! CAPITALI/S' POCKETS - AS EV]Y EMPLOY] MU/ LAY \T ! MONEY CAPITAL 9 ADVANCE - & RETURNS 9TO ! POCKETS ( ! CAPITALI/ CLASS AFT] ! EX*ANGE ON ! M>KET HAS TAK5 PLACE4 

,AS WE ONLY ASSUME ! REPLACEM5T ( ! MEANS ( PRODUCTION TO ITS =M] EXT5T1 ! SAME AM\NT ( MONEY WILL SUFFICE TO KEEP ?IS P]IODIC PROCESS GO+ & LET ! MONEY RETURN 9TO ! CAPITALI/S' POCKETS = A P]IOD ( RE/4 ,A SECOND L>GE DEP>TM5T ( COMMODITIES MU/ CONTA9 MEANS ( SUBSI/5CE = ! POPULATION1 AS 9 EV]Y SOCIETY4 ,BUT H[ IS ! POPULATION /RUCTUR$ 9 CAPITALI/ SOCIETY1 & H[ DOES-IT GET ITS MEANS ( SUBSI/5CE8 

,TWO BASIC /RUCTURES >E *>ACT]I/IC ( ! CAPITALI/ MODE ( PRODUCTION4 ,FIR/LY1 A G5]AL EX*ANGE ( GOODS1 I4E4 NOBODY RECEIVES ANY?+ FROM ! SOCIAL /OCK ( COMMODITIES )\T ! MEANS ( PUR*ASE - MONEY4 ,SECONDLY1 ! CAPITALI/ WAGE SY/EM1 I4E4 ! MAJORITY ( ! WORK+ POPULATION1 MU/ EX*ANGE ITS LABOR P[] ) CAPITAL TO ACQUIRE MEANS ( PUR*ASE1 :ILE ! PROP]TI$ CLASS RECEIVES ITS MEANS ( SUBSI/5CE ONLY BY EXPLOIT+ ?IS RELATION%IP4 ,?US CAPITALI/ PRODUCTION PRESUPPOSES TWO GREAT CLASSES3 CAPITALI/S & WORK]S1 :O DIFF] 5TIRELY 9 !IR ACQUISITION ( MEANS ( SUBSI/5CE4 ,! WORK]S MU/ BE F$ TO MA9TA9 !IR LABOR P[] = FUR!R EXPLOITATION1 H[EV] LITTLE !IR 9DIVIDUAL FATES CONC]N ! CAPITALI/4 ,FROM ! TOTAL QUANTITY ( COMMODITIES PRODUC$ BY ! WORK]S1 A C]TA9 %>E IS ASSIGN$ TO !M BY ! CAPITALI/S1 9 DIRECT PROPORTION TO !IR USEFULNESS 9 PRODUCTION4 ,! WORK]S RECEIVE WAGES 9 MONEY =M TO PUR*ASE !SE GOODS4 ,BY MEANS ( EX*ANGE ! WORK+ CLASS ?US RECEIVES A C]TA9 SUM ( MONEY EV]Y YE>4 ,) ?IS !Y BUY !IR PROVISIONS FROM ! SOCIAL /OCK ( COMMODITIES1 :I* >E1 ( C\RSE1 ! PROP]TY ( ! CAPITALI/2 !SE PROVISIONS >E ALLOTT$ TO !M ACCORD+ TO !IR CULTURAL LEVEL & ! /AGE ( ! CLASS /RUGGLE4 ,! MONEY ?AT 9ITIATES ?IS SECOND BIG EX*ANGE AGA9 COMES \T ( ! CAPITALI/S' POCKETS4 ,EV]Y CAPITALI/ MU/ ADVANCE ! NECESS>Y MONEY CAPITAL TO PUR*ASE HIS LABOR =CE - :AT ,M>X CALLS 'V>IABLE CAPITAL' - 9 ORD] TO KEEP HIS 5T]PRISE GO+4 ,BUT ?IS MONEY RETURNS1 D[N TO ! LA/ P5NY1 9TO ! POCKETS ( ! CAPITALI/S AS A CLASS1 AFT] ! WORK] HAS B\<T HIS MEANS ( SUBSI/5CE 7& EV]Y WORK] MU/ DO SO TO MA9TA9 HIMSELF & HIS FAMILY7 - S9CE IT IS ! CAPITALI/S :O SELL MEANS ( SUBSI/5CE TO ! WORK]S AS COMMODITIES4 ,BUT :AT AB\T !IR [N CONSUMPTION8 ,! MEANS ( SUBSI/5CE ALREADY BELONG TO ! CAPITALI/S 9 ! =M ( ! COMMODITY /OCK BE=E EX*ANGE1 BY VIRTUE ( CAPITALI/ RELATIONS1 ACCORD+ TO :I* ALL COMMODITIES - EXCEPT = LABOR-P[] - COME 9TO ?IS WORLD AS ! PROP]TY ( ! CAPITALI/4 ,( C\RSE1 PRECISELY BECAUSE !Y >E COMMODITIES1 ! 'BETT]' CLASS ( PROVISIONS COME 9TO BE+ AS ! PROP]TY ( MANY 9DIVIDUAL PRIVATE CAPITALI/S4 ,!RE=E1 AS ) CON/ANT CAPITAL1 A G5]AL EX*ANGE MU/ TAKE PLACE BETWE5 CAPITALI/S BE=E !Y CAN 5JOY !IR [N MEANS ( SUBSI/5CE4 ,?IS EX*ANGE1 TOO1 MU/ BE CONDUCT$ ) MONEY1 & ! CAPITALI/ HIMSELF HAS BR\<T ! NECESS>Y AM\NT 9TO CIRCULATION4 ,ONCE AGA91 AS ) ! R5EWAL (1 CON/ANT CAPITAL1 ?IS IS AN 9T]NAL1 FAMILY >RANGEM5T ( ! EMPLOY+ CLASS4 ,ONCE MORE1 ?IS MONEY-RETURNS :5CE IT BEGAN - 9TO ! POCKETS ( ! CAPITALI/S AS A CLASS4 

,! SAME ME*ANISM ( CAPITALI/ EXPLOITATION :I* REGULATES ! WAGE SY/EM 5SURES ?AT ! NECESS>Y AM\NT ( GOODS & LUXURIES IS PRODUC$ = ! CAPITALI/S4 ,IF ! WORK]S ONLY PRODUC$ AS MU* AS !Y ACTUALLY NE$$1 !N FROM ! /&PO9T ( CAPITAL IT W\LD BE PO9TLESS TO EMPLOY !M4 ,IT BEG9S TO MAKE S5SE :5 ! WORK] PROVIDES 5\< TO MA9TA9 HIS EMPLOY]1 OV] & ABOVE :AT HE NE$S = HIMSELF - I4E4 HIS WAGE3 :5 HE PRODUCES :AT ,M>X CALLS SURPLUS VALUE4 ,& ?IS SURPLUS VALUE HAS TO PROVIDE1 AMONG O!R ?+S1 ! PROVISIONS & LUXURIES REQUIR$ BY ! CAPITALI/S1 AS BY ANY O!R EXPLOIT]S 9 ! C\RSE ( HI/ORY4 ,ALL ?AT IS LEFT = ! CAPITALI/S TO DO IS TO GO TO ! FRI<TFUL BO!R ( MUTUAL EX*ANGE & TO OBTA9 ! NECESS>Y MONEY-MEANS1 9 ORD] TO MA9TA9 ! H>D & SP>TAN EXI/5CE ( !IR CLASS & 5SURE ITS NATURAL REPRODUCTION4 

,SO F> WE HAVE DEALT ) TWO BIG PORTIONS ( ! AGGREGATE QUANTITY ( COMMODITIES 9 SOCIETY3 MEANS ( PRODUCTION TO REPEAT ! WORK PROCESS & MEANS ( SUBSI/5CE TO MA9TA9 ! POPULATION1 I4E4 ! WORK+ CLASS & ! CAPITALI/S4 

,( C\RSE1 :AT WE HAVE DESCRIB$ C\LD EASILY SEEM TO BE A CREATION ( FANCY4 ,:AT LIV+ CAPITALI/ KN[S OR C>ES :AT & H[ MU* IS NECESS>Y TO REPLACE ! US$-UP GROSS CAPITAL & TO FE$ ! 5TIRE POPULATION8 ,IS IT NOT ! CASE ?AT EV]Y CAPITALI/ GOES BL9DLY ON PRODUC+1 COMPET+ ) O!RS1 & H>DLY SEES :AT IS HAPP5+ 9 FRONT ( HIS NOSE8 ,BUT !RE MU/ OBVI\SLY BE 9VISIBLE RULES :I* SOMEH[ WORK 9 ALL ?IS *AOS ( COMPETITION & AN>*Y1 O!RWISE CAPITALI/ SOCIETY W\LD HAVE BE5 9 RU9S LONG AGO4 ,& IT IS ! :OLE PURPOSE ( POLITICAL ECONOMY AS A SCI5CE 7& P>TICUL>LY ( ,M>X'S ECONOMIC /UDIES7 TO TRACE !SE HIDD5 LAWS :I* ORGANIZE ! :OLE ( SOCIETY 9 ! MID/ ( ! CONFUSION ( PRIVATE 5T]PRISE4 ,WE HAVE N[ TO TRACE !SE OBJECTIVE 9VISIBLE RULES ( CAPITALI/ ACCUMULATION - ! AMASS+ ( CAPITAL ?R\< PROGRESSIVE EXT5SION ( PRODUCTION4 ,! LAWS :I* WE EXP\ND H]E >E NOT AU?ORITATIVE = ! CONSCI\S ACTIONS ( 9DIVIDUAL CAPITALS2 9DE$1 NO G5]AL 9/ITUTION EXI/S 9 SOCIETY ?AT W\LD CONSCI\SLY CON/RUCT & OP]ATE !SE LAWS ,CONSEQU5TLY1 PRODUCTION TODAY IS LIKE A LUR*+ DRUNK>D1 FULFILL+ ITS TASKS ?R\< ALL !SE GLUTS & DE>?S1 PRICE 9/ABILITY & CRISES4 ,BUT PRICE 9/ABILITY & CRISES HAVE ONLY ONE FUNCTION 9 SOCIETY3 TO 9TEGRATE *AOTIC PRIVATE PRODUCTION 9TO ITS BROAD G5]AL CONTEXT1 )\T :I* IT W\LD SOON DIS9TEGRATE4 ,LET US H]E TRY TO SKET*1 ) ,M>X1 ! RELATION BETWE5 TOTAL CAPITALI/ PRODUCTION & SOCIAL NE$S4 ,WE WILL OMIT ! SPECIFIC CAPITALI/ ME?ODS ( PRICE FLUCTUATION & CRISES1 & CONC5TRATE ON ! BASICS4 

,!RE MU/ BE MORE ?AN ?OSE TWO BIG PORTIONS ( ! SOCIAL /OCK ( COMMODITIES :I* WE HAVE DEALT ) SO F>4 ,IF ! EXPLOITATION ( ! WORK]S W]E ONLY TO P]MIT A LUXURI\S LIFE = ! EXPLOIT]S1 WE W\LD HAVE A K9D ( MOD]NIZ$ SLAVE SY/EM ( M$IEVAL FEUDALISM1 BUT NOT ! MOD]N RULE ( CAPITAL4 ,ITS AIM & GOAL 9 LIFE IS PR(IT 9 ! =M ( MONEY & ACCUMULATION ( MONEY CAPITAL4 ,SO ! ACTUAL HI/ORICAL PURPOSE ( PRODUCTION ONLY BEG9S :5 EXPLOITATION AIMS BEYOND ?AT4 ,! SURPLUS VALUE MU/ NOT ONLY ALL[ ! CAPITALI/ CLASS A LIV+ 'BEFITT+ !IR RANK'1 BUT MU/ ALSO CONTA9 A P>T DE/9$ = ACCUMULATION4 ,?IS ACTUAL PURPOSE IS SO IMPORTANT ?AT WORK]S >E ONLY EMPLOY$ IF !Y PRODUCE ?IS PR(IT & IF !RE IS ! EXPECTATION ?AT IT CAN BE ACCUMULAT$ 9 MONEY-=M4 

,9 \R ASSUM$ TOTAL /OCK ( COMMODITIES 9 CAPITALI/ SOCIETY WE MU/ ACCORD+LY F9D A ?IRD PORTION1 :I* IS DE/9$ NEI!R = ! R5EWAL ( US$ MEANS ( PRODUCTION NOR = ! MA9T5ANCE ( WORK]S & CAPITALI/S4 ,IT WILL BE A PORTION ( COMMODITIES :I* CONTA9S ?AT 9VALUABLE P>T ( ! SURPLUS VALUE ?AT =MS CAPITAL'S REAL PURPOSE ( EXI/5CE3 ! PR(IT DE/9$ = CAPITALIZATION & ACCUMULATION4 ,:AT SORT ( COMMODITIES >E !Y1 & :O 9 SOCIETY NE$S !M8 

,H]E WE HAVE COME TO ! NUCLEUS ( ! PROBLEM ( ACCUMULATION1 & WE MU/ 9VE/IGATE ALL ATTEMPTS AT SOLUTION4 ,C\LD IT REALLY BE ! WORK]S :O CONSUME ! LATT] PORTION ( ! SOCIAL /OCK ( COMMODITIES8 ,BUT ! WORK]S HAVE NO MEANS BEYOND ! WAGES COV]+ B>E NECESSITIES :I* !Y RECEIVE FROM !IR EMPLOY]S4 ,BEYOND ?AT !RE IS NO POSSIBLE *ANCE ( !IR BE+ CONSUM]S ( CAPITALI/ COMMODITIES1 H[EV] MANY UNSATISFI$ NE$S !Y MAY HAVE4 ,IT IS ALSO 9 ! 9T]E/ ( ! CAPITALI/ CLASS TO MAKE ?IS PORTION ( ! GROSS SOCIAL PRODUCT & MEANS ( PUR*ASE AS SC>CE AS POSSIBLE4 ,ACCORD+ TO ! /&PO9T ( ! CAPITALI/S AS A CLASS - IT IS IMPORTANT TO SEE ?IS /&PO9T 9 OPPOSITION TO ! AB/RUSE IDEAS ( ! 9DIVIDUAL CAPITALI/ - WORK]S >E NOT1 LIKE O!RS1 CU/OM]S = !IR COMMODITIES1 BUT SIMPLY ! LABOR =CE1 :OSE MA9T5ANCE \T ( P>T ( ITS [N PRODUCE IS AN UN=TUNATE NECESSITY1 R$UC$ TO ! M9IMUM SOCIETY ALL[S4 

,C\LD ! CAPITALI/S !MSELVES P]HAPS BE ! CU/OM]S = ?AT LATT] PORTION ( COMMODITIES BY EXT5D+ !IR [N PRIVATE CONSUMPTION8 ,?AT MI<T BE POSSIBLE1 AL?\<4 !RE IS 5\< = ! RUL+ CLASS 9 ANY CASE1 EV5 ) ITS LUXURI\S :IMS4 ,BUT IF ! CAPITALI/S !MSELVES W]E TO SP5D ! TOTAL SURPLUS VALUE LIKE WAT] !RE W\LD BE NO ACCUMULATION4 ,?AT W\LD MEAN1 FROM ! /&PO9T ( CAPITAL1 A FANTA/IC RELAPSE 9TO A SORT ( MOD]NIZ$ SLAVE ECONOMY1 OR FEUDALISM4 ,( C\RSE1 ?IS IS CONCEIVABLE & EV5 PRACTIC$ OCCASIONALLY 9 REV]SE3 WE C\LD DISC]N CAPITALI/ ACCUMULATION ) =MS ( SLAV]Y & S]FDOM UP UNTIL ! SIXTIES ( ! LA/ C5TURY 9 ! ,UNIT$ ,/ATES1 /ILL TODAY 9 ,RUMANIA & V>I\S OV]SEAS COLONIES4 ,BUT ! O!R WAY1 MOD]N EXPLOITATION ) A FREE WAGE SY/EM FOLL[$ BY ANCI5T OR FEUDAL SQU&]+ ( ! SURPLUS VALUE1 NEGLECT+ ACCUMULATION1 ?IS DEADLY S9 AGA9/ ! SPIRITUS SANCTUS ( CAPITAL IS UN?9KABLE4 ,AGA91 ! /&PO9T ( TOTAL CAPITAL DIFF]S BASICALLY FROM ?AT ( ! 9DIVIDUAL EMPLOY]4 ,= ! 9DIVIDUAL1 ! LUXURY ( 'HI< SOCIETY' IS A DESIRABLE EXPANSION ( SALES1 I4E4 A SPL5DID OPPORTUNITY = ACCUMULATION4 ,= ALL CAPITALI/S AS A CLASS1 ! TOTAL CONSUMPTION ( ! SURPLUS VALUE AS LUXURY IS %E] LUNACY1 ECONOMIC SUICIDE1 = IT IS ! DE/RUCTION ( ACCUMULATION AT ITS ROOTS4 

,:O !N C\LD BE ! BUY] & CONSUM] ( ?AT PORTION ( COMMODITIES :OSE SALE IS ONLY ! BEG9N+ ( ACCUMULATION8 ,SO F> AS WE HAVE SE51 IT CAN BE NEI!R ! WORK]S NOR ! CAPITALI/S4 

,BUT >E !RE NOT ALL SORTS ( /RATA 9 SOCIETY LIKE CIVIL S]VANTS1 MILIT>Y1 CL]ICS1 ACADEMICS & >TI/S :I* CAN NEI!R BE C\NT$ AMONG ! WORK]S NOR ! EMPLOY]S8 ,MU/ NOT ALL !SE CATEGORIES ( ! POPULATION SATISFY !IR NE$S1 & C\LD !Y NOT BE ! WANT$ PUR*AS]S ( ! SURPLUS COMMODITIES8 ,ONCE MORE3 YES1 !Y C\LD = ! 9DIVIDUAL CAPITALI/6 ,IT IS DIFF]5T AGA9 IF WE TAKE ! EMPLOY]S AS A CLASS1 IF WE CONSID] GROSS SOCIAL CAPITAL4 ,9 CAPITALI/ SOCIETY ALL ?OSE /RATA >E ECONOMICALLY ONLY ! HANG]S-ON ( ! CAPITALI/ CLASS4 ,IF WE ASK :]E ! CIVIL S]VANTS1 CL]ICS1 (FIC]S1 >TI/S1 ETC41 RECEIVE !IR MEANS ( PUR*ASE1 WE SEE ?AT IT IS P>TLY MA9TA9$ \T ( ! POCKETS ( ! CAPITALI/S1 P>TLY \T ( ! WAGES ( LABOR 7VIA ! 9DIRECT TAX SY/EM74 ,ECONOMICALLY !SE GR\PS CANNOT BE A SPECIAL CLASS ( CONSUM]S1 AS !Y DO NOT HAVE ANY 9DEP5D5T S\RCES ( PUR*AS+ P[]1 BUT >E 9CLUD$ AS P>ASITES 9 ! CONSUMPTION ( ! TWO MAJOR CLASSES1 WORK]S & CAPITALI/S4 

,SO WE /ILL DO NOT SEE ANY CU/OM]S = ! LATT] PORTION ( COMMODITIES1 :O C\LD 9ITIATE ! PROCESS ( ACCUMULATION4 

,9 ! 5D1 ! SOLUTION ( ! PROBLEM IS QUITE SIMPLE4 ,P]HAPS WE >E ACT+ LIKE ! RID] :O IS DESP]ATELY LOOK+ = ! NAG HE IS SITT+ ON4 ,P]HAPS ! CAPITALI/S >E MUTUAL CU/OM]S = ! REMA9D] ( ! COMMODITIES - NOT TO USE !M C>ELESSLY1 BUT TO USE !M = ! EXT5SION ( PRODUCTION1 = ACCUMULATION4 ,!N :AT ELSE IS ACCUMULATION BUT EXT5SION ( CAPITALI/ PRODUCTION8 ,?OSE GOODS :I* FULFILL ?IS PURPOSE MU/ NOT CONSI/ ( LUXURI\S >TICLES = ! PRIVATE CONSUMPTION ( ! CAPITALI/S1 BUT MU/ BE COMPOS$ ( V>I\S MEANS ( PRODUCTION 7NEW CON/ANT CAPITAL7 & PROVISIONS = ! WORK]S .<V>IABLE CAPITAL.>4 

,ALL RI<T1 BUT SU* A SOLUTION ONLY PU%ES ! PROBLEM FROM ?IS MOM5T TO ! NEXT4 ,AFT] WE HAVE ASSUM$ ?AT ACCUMULATION HAS />T$ & ?AT ! 9CREAS$ PRODUCTION ?R[S AN EV5 BIGG] AM\NT ( COMMODITIES ON TO ! M>KET ! FOLL[+ YE>1 ! SAME QUE/ION >ISES AGA93 :]E DO WE !N F9D ! CONSUM]S = ?IS EV5 GREAT] AM\NT ( COMMODITIES8 ,WILL WE ANSW]3 WELL1 ?IS GR[+ AM\NT ( GOODS WILL AGA9 BE EX*ANG$ AMONG ! CAPITALI/S TO EXT5D PRODUCTION AGA91 & SO =?1 YE> AFT] YE>8 ,!N WE HAVE ! R\NDAB\T ?AT REVOLVES >\ND ITSELF 9 EMPTY SPACE4 ,?AT IS NOT CAPITALI/ ACCUMULATION1 I4E4 ! AMASS+ ( MONEY CAPITAL1 BUT ITS CONTR>Y3 PRODUC+ COMMODITIES = ! SAKE ( IT2 FROM ! /&PO9T ( CAPITAL AN UTT] ABSURDITY4 ,IF ! CAPITALI/S AS A CLASS >E ! ONLY CU/OM]S = ! TOTAL AM\NT ( COMMODITIES1 AP>T FROM ! %>E !Y HAVE TO P>T ) TO MA9TA9 ! WORK]S - IF !Y MU/ ALWAYS BUY ! COMMODITIES ) !IR [N MONEY1 & REALIZE ! SURPLUS VALUE1 !N AMASS+ PR(IT1 ACCUMULATION = ! CAPITALI/ CLASS1 CANNOT POSSIBLY TAKE PLACE4 

,!Y MU/ F9D MANY O!R BUY]S :O RECEIVE !IR MEANS ( PUR*ASE FROM AN 9DEP5D5T S\RCE1 & DO NOT GET IT \T ( ! POCKET ( ! CAPITALI/ LIKE ! LABOR]S OR ! COLLABORATORS ( CAPITAL1 ! GOV]NM5T (FICIALS1 (FIC]S1 CL]GY & LIB]AL PR(ESSIONS4 ,!Y HAVE TO BE CONSUM]S :O RECEIVE !IR MEANS ( PUR*ASE ON ! BASIS ( COMMODITY EX*ANGE1 I4E4 ALSO PRODUCTION ( GOODS1 BUT TAK+ PLACE \TSIDE ( CAPITALI/ COMMODITY PRODUCTION4 ,!Y MU/ BE PRODUC]S1 :OSE MEANS ( PRODUCTION >E NOT TO BE SE5 AS CAPITAL1 & :O BELONG TO NEI!R ( ! TWO CLASSES - CAPITALI/S OR WORK]S - BUT :O /ILL HAVE A NE$1 ONE WAY OR ANO!R1 = CAPITALI/ COMMODITIES4 

,BUT :]E >E ?OSE BUY]S8 ,AP>T FROM ! CAPITALI/S ) !IR 5T\RAGE ( HANG]S-ON1 !RE >E NO O!R CLASSES OR /RATA 9 SOCIETY TODAY4 

,H]E WE GET D[N TO ! HE>T ( ! PROBLEM4 ,M>X1 9 ! SECOND VOLUME ( ,CAPITAL1 AS 9 ! FIR/1 PRESUPPOSES ?AT CAPITALI/ PRODUCTION IS ! SOLE & EXCLUSIVE MODE ( PRODUCTION4 ,HE SAYS 9 ! FIR/ VOLUME 

,H]E WE TAKE NO ACC\NT ( EXPORT TRADE1 BY MEANS ( :I* A NATION CAN *ANGE >TICLES ( LUXURY EI!R 9TO MEANS ( PRODUCTION OR MEANS ( SUBSI/5CE1 & VICE V]SA4 ,9 ORD] TO EXAM9E ! OBJECT ( \R 9VE/IGATION 9 ITS 9TEGRITY1 FREE FROM ALL DI/URB+ SUBSIDI>Y CIRCUM/ANCES1 WE MU/ TREAT ! :OLE WORLD AS ONE NATION1 & ASSUME ?AT CAPITALI/ PRODUCTION IS EV]Y:]E E/ABLI%$ & HAS POSSESS$ ITSELF ( EV]Y BRAN* ( 9DU/RY4.<#f.> 

,& 9 ! SECOND VOLUME3 

',AP>T FROM ?IS CLASS1 ACCORD+ TO \R ASSUMPTION - ! G5]AL & EXCLUSIVE DOM9ATION ( CAPITALI/ PRODUCTION - !RE IS NO O!R CLASS AT ALL EXCEPT ! WORK+ CLASS4'.<#g.> 

,UND] ?IS CONDITION1 !RE >E ONLY CAPITALI/S CUM HANG]S-ON & WORK]S 9 SOCIETY2 O!R CLASSES1 O!R PRODUC]S & CONSUM]S >E NO:]E TO BE F\ND4 ,9 ?AT CASE1 CAPITALI/ PRODUCTION IS FAC$ ) ! 9SOLUBLE QUE/ION :I* ,I TRI$ TO PO9T \T ABOVE4 

,Y\ CAN TWI/ & TURN IT AS Y\ WI%1 BUT SO LONG AS WE RETA9 ! ASSUMPTION ?AT !RE >E NO O!R CLASSES BUT CAPITALI/S & WORK]S1 !N !RE IS NO WAY ?AT ! CAPITALI/S AS A CLASS CAN GET RID ( ! SURPLUS GOODS 9 ORD] TO *ANGE ! SURPLUS VALUE 9TO MONEY1 & ?US ACCUMULATE CAPITAL4 

,BUT ,M>X'S ASSUMPTION IS ONLY A !ORETICAL PREMISE 9 ORD] TO SIMPLIFY 9VE/IGATION4 ,9 REALITY1 CAPITALI/ PRODUCTION IS NOT ! SOLE & COMPLETELY DOM9ANT =M ( PRODUCTION1 AS EV]YONE KN[S1 & AS ,M>X HIMSELF /RESSES 9 ,CAPITAL4 ,9 REALITY1 !RE >E 9 ALL CAPITALI/ C\NTRIES1 EV5 9 ?OSE ) ! MO/ DEVELOP$ L>GE-SCALE 9DU/RY1 NUM]\S >TISAN & PEASANT 5T]PRISES :I* >E 5GAG$ 9 SIMPLE COMMODITY PRODUCTION4 ,9 REALITY1 ALONGSIDE ! OLD CAPITALI/ C\NTRIES !RE >E /ILL ?OSE EV5 9 ,EUROPE :]E PEASANT & >TISAN PRODUCTION IS /ILL /RONGLY PR$OM9ANT1 LIKE ,RUSSIA1 ! ,BALKANS1 ,SC&9AVIA & ,SPA94 ,& F9ALLY1 !RE >E HUGE CONT95TS BESIDES CAPITALI/ ,EUROPE & ,NOR? ,AM]ICA1 :]E CAPITALI/ PRODUCTION HAS ONLY SCATT]$ ROOTS1 & AP>T FROM ?AT ! PEOPLE ( !SE CONT95TS HAVE ALL SORTS ( ECONOMIC SY/EMS1 FROM ! PRIMITIVE ,COMMUNI/ TO ! FEUDAL1 PEASANTRY & >TISAN4 ,NOT ONLY DO ALL !SE SOCIAL & PRODUCTIVE =MS CO-EXI/1 & CO-EXI/ LOCALLY ) CAPITALISM1 BUT !RE IS A LIVELY 9T]C\RSE ( A SPECIFIC K9D4 ,CAPITALI/ PRODUCTION AS PROP] MASS PRODUCTION DEP5DS ON CONSUM]S FROM PEASANT & >TISAN /RATA 9 ! OLD C\NTRIES1 & CONSUM]S FROM ALL C\NTRIES2 BUT = TE*NICAL REASONS1 IT CANNOT EXI/ )\T ! PRODUCTS ( !SE /RATA & C\NTRIES4 ,SO !RE MU/ DEVELOP RI<T FROM ! />T AN EX*ANGE RELATION%IP BETWE5 CAPITALI/ PRODUCTION & ! NON-CAPITALI/ MILIEU1 :]E CAPITAL NOT ONLY F9DS ! POSSIBILITY ( REALIZ+ SURPLUS VALUE 9 H>D CA% = FUR!R CAPITALIZATION1 BUT ALSO RECEIVES V>I\S COMMODITIES TO EXT5D PRODUCTION1 & F9ALLY W9S NEW PROLET>IANIZ$ LABOR =CES BY DIS9TEGRAT+ ! NON-CAPITALI/ =MS ( PRODUCTION4 

,?IS IS ONLY ! B>E ECONOMIC CONT5T ( ! RELATION%IP4 ,ITS CONCRETE DESIGN 9 REALITY =MS ! HI/ORIC PROCESS ( ! DEVELOPM5T ( CAPITALISM ON ! WORLD /AGE 9 ALL ITS COLORFUL & MOV+ V>IETY4 

,FIR/1 ! EX*ANGE RELATION ( CAPITAL ) ITS NON-CAPITALI/ 5VIRONM5T CONFRONTS ! DIFFICULTIES ( A B>T] ECONOMY1 SECURE SOCIAL RELATIONS & ! LIMIT$ DEM& ( PATRI>*AL PEASANT ECONOMY & >TISAN PRODUCTION4 ,H]E CAPITAL USES 'H]OIC MEANS'1 ! AX ( POLITICAL VIOL5CE4 ,ITS FIR/ ACT 9 ,EUROPE IS ! REVOLUTION>Y CONQUE/ ( ! FEUDAL B>T] ECONOMY4 ,OV]SEAS1 IT BEG9S ) ! SUBJUGATION & DE/RUCTION ( TRADITIONAL COMMUNITIES1 ! WORLD HI/ORICAL ACT ( ! BIR? ( CAPITAL1 S9CE !N ! CON/ANT EPIPH5OM5ON ( ACCUMULATION4 ,?R\< DE/RUCTION ( ! PRIMITIVE B>T] RELATIONS 9 !SE C\NTRIES1 ,EUROPEAN CAPITAL OP5S ! DOORS TO COMMODITY EX*ANGE & PRODUCTION1 TRANS=MS ! POPULATION 9TO CU/OM]S ( CAPITALI/ COMMODITIES & HA/5S ITS [N ACCUMULATION BY MAK+ MASS RAIDS ON !IR NATURAL RES\RCES & ACCUMULAT$ TREASURES4 ,S9CE ! BEG9N+ ( ! N9ETE5? C5TURY1 ACCUMULAT$ CAPITAL FROM ,EUROPE HAS BE5 EXPORT$ ALONG !SE L9ES TO NON-CAPITALI/ C\NTRIES 9 O!R P>TS ( ! WORLD1 :]E IT F9DS NEW CU/OM]S & ?US NEW OPPORTUNITIES = ACCUMULATION ON ! RU9S ( ! NATIVE =MS ( PRODUCTION4 

,?US CAPITALISM EXP&S BECAUSE ( ITS MUTUAL RELATION%IP ) NON-CAPITALI/ SOCIAL /RATA & C\NTRIES1 ACCUMULAT+ AT !IR EXP5SE & AT ! SAME TIME PU%+ !M ASIDE TO TAKE !IR PLACE4 ,! MORE CAPITALI/ C\NTRIES P>TICIPATE 9 ?IS HUNT+ = ACCUMULATION >EAS1 ! R>] ! NON-CAPITALI/ PLACES /ILL OP5 TO ! EXPANSION ( CAPITAL BECOME & ! T\<] ! COMPETITION2 ITS RAIDS TURN 9TO A *A9 ( ECONOMIC & POLITICAL CATA/ROPHES3 WORLD CRISES1 W>S1 REVOLUTION4 

,BUT BY ?IS PROCESS CAPITAL PREP>ES ITS [N DE/RUCTION 9 TWO WAYS4 ,AS IT APPROA*ES ! PO9T :]E HUMANITY ONLY CONSI/S ( CAPITALI/S & PROLET>IANS1 FUR!R ACCUMULATION WILL BECOME IMPOSSIBLE4 ,AT ! SAME TIME1 ! ABSOLUTE & UNDIVID$ RULE ( CAPITAL AGGRAVATES CLASS /RUGGLE ?R\<\T ! WORLD & ! 9T]NATIONAL ECONOMIC & POLITICAL AN>*Y TO SU* AN EXT5T ?AT1 LONG BE=E ! LA/ CONSEQU5CES ( ECONOMIC DEVELOPM5T1 IT MU/ LEAD TO ! REBELLION ( ! 9T]NATIONAL PROLET>IAT AGA9/ ! EXI/5CE ( ! RULE ( CAPITAL4 

,?IS1 9 BRIEF1 IS MY CONCEPTION ( ! PROBLEM & ITS SOLUTION4 ,AT FIR/ GLANCE IT MAY APPE> TO BE A PURELY !ORETICAL EX]CISE4 ,& YET ! PRACTICAL MEAN+ ( ! PROBLEM IS AT H& - ! CONNECTION ) ! MO/ \T/&+ FACT ( \R TIME3 IMP]IALISM4 ,! TYPICAL EXT]NAL PH5OM5A ( IMP]IALISM3 COMPETITION AMONG CAPITALI/ C\NTRIES TO W9 COLONIES & SPH]ES ( 9T]E/1 OPPORTUNITIES = 9VE/M5T1 ! 9T]NATIONAL LOAN SY/EM1 MILIT>ISM1 T>IFF B>RI]S1 ! DOM9ANT ROLE ( F9ANCE CAPITAL & TRU/S 9 WORLD POLITICS1 >E ALL WELL KN[N4 ,ITS CONNECTION ) ! F9AL PHASE ( CAPITALISM1 ITS IMPORTANCE = ACCUMULATION1 >E SO BLATANTLY OP5 ?AT IT IS CLE>LY ACKN[L$G$ BY ITS SUPPORT]S AS WELL AS ITS 5EMIES4 ,BUT ,SOCIAL ,DEMOCRACY REFUSES TO BE SATISFI$ ) ?IS EMPIRICAL KN[L$GE4 ,IT MU/ SE>* = ! PRECISE ECONOMIC RULES BEH9D APPE>ANCES1 TO F9D ! ACTUAL ROOTS ( ?IS L>GE & COLORFUL COMPLEX ( IMP]IALI/ PH5OM5A4 ,AS ALWAYS 9 !SE CASES1 ONLY PRECISE !ORETICAL KN[L$GE ( ! PROBLEM AT ITS ROOTS CAN PROVIDE \R PRACTICAL /RUGGLE AGA9/ IMP]IALISM ) SECURITY1 AIM & =CE - ESS5TIAL = ! POLITICS ( ! PROLET>IAT4 ,BE=E ,M>X'S ,CAPITAL APPE>$1 ! FACT ?AT !RE WAS EXPLOITATION1 SURPLUS LABOR & PR(ITS1 WAS WELL KN[N4 ,BUT ONLY ! PRECISE !ORY ( SURPLUS VALUE1 ! WAGE LAWS & ! 9DU/RIAL RES]VE >MY1 AS ,M>X BASES !M 9 HIS !ORY ( VALUE1 HAVE GIV5 A /RONG F\NDATION = ! PRACTICAL CLASS /RUGGLE1 ON :I* ! ,G]MAN &1 9 ITS FOOT/EPS1 ! 9T]NATIONAL LABOR MOVEM5T DEVELOP$ UNTIL ! ,WORLD ,W> .<,FIR/ ,WORLD ,W>.>4 ,?AT !ORY ALONE IS NOT 5\<2 ?AT ONE CAN SOMETIMES CONNECT ! BE/ !ORY ) ! WOR/ PRACTICE IS %[N BY ! PRES5T COLLAPSE ( ,G]MAN ,SOCIAL ,DEMOCRACY4 ,?IS COLLAPSE DID NOT OCCUR AS A RESULT ( ,M>XI/ !ORY1 BUT 9 SPITE ( IT1 & IT CAN ONLY BE OV]?R[N BY BR++ ! PRACTICE ( ! LABOR MOVEM5T 9TO H>MONY ) ITS !ORY4 ,9 ! CLASS /RUGGLE AS A :OLE1 AS 9 EA* IMPORTANT P>T ( IT1 WE CAN ONLY GA9 A SECURE F\NDATION = \R POSITION FROM ,M>X'S !ORY1 FROM ! BURI$ TREASURES F\ND 9 HIS FUNDAM5TAL WORKS4 

,!RE IS NO D\BT ?AT ! EXPLANATION = ! ECONOMIC ROOTS ( IMP]IALISM MU/ BE D$UC$ FROM ! LAWS ( CAPITAL ACCUMULATION1 S9CE1 ACCORD+ TO COMMON EMPIRICAL KN[L$GE1 IMP]IALISM AS A :OLE IS NO?+ BUT A SPECIFIC ME?OD ( ACCUMULATION4 ,BUT H[ IS ?AT POSSIBLE1 IF ONE DOES NOT QUE/ION ,M>X'S ASSUMPTIONS 9 ! SECOND VOLUME ( ,CAPITAL :I* >E CON/RUCT$ = A SOCIETY 9 :I* CAPITALI/ PRODUCTION IS ! ONLY =M1 :]E ! 5TIRE POPULATION CONSI/S SOLELY ( CAPITALI/S & WAGE LABOR]S8 

,H[EV] ONE DEF9ES ! 9N] ECONOMIC ME*ANISMS ( IMP]IALISM1 ONE ?+ IS OBVI\S & COMMON KN[L$GE3 ! EXPANSION ( ! RULE ( CAPITAL FROM ! OLD CAPITALI/ C\NTRIES TO NEW >EAS1 & ! ECONOMIC & POLITICAL COMPETITION ( ?OSE C\NTRIES = ! NEW P>TS ( ! WORLD4 ,BUT ,M>X ASSUMES1 AS WE HAVE SE5 9 ! SECOND VOLUME ( ,CAPITAL1 ?AT ! :OLE WORLD IS ONE CAPITALI/ NATION1 ?AT ALL O!R =MS ( ECONOMY & SOCIETY HAVE ALREADY DISAPPE>$4 ,H[ CAN ONE EXPLA9 IMP]IALISM 9 A SOCIETY :]E !RE IS NO LONG] ANY SPACE = IT8 

,IT WAS AT ?IS PO9T ?AT ,I BELIEV$ ,I HAD TO />T MY CRITIQUE4 ,! !ORETICAL ASSUMPTION ( A SOCIETY ( CAPITALI/S & WORK]S ONLY - :I* IS LEGITIMATE = C]TA9 AIMS ( 9VE/IGATION 7AS 9 ! FIR/ VOLUME ( ,CAPITAL1 ! ANALYSIS ( 9DIVIDUAL CAPITAL & ITS PRACTICE ( EXPLOITATIONS 9 ! FACTORY7 NO LONG] SEEMS ADEQUATE :5 WE DEAL ) ! ACCUMULATION ( GROSS SOCIAL CAPITAL4 ,AS ?IS REPRES5TS ! REAL HI/ORICAL PROCESS ( CAPITALI/ DEVELOPM5T1 IT SEEMS IMPOSSIBLE TO ME TO UND]/& IT IF ONE AB/RACTS IT FROM ALL CONDITIONS ( HI/ORICAL REALITY4 ,CAPITAL ACCUMULATION AS ! HI/ORICAL PROCESS DEVELOPS 9 AN 5VIRONM5T ( V>I\S PRE-CAPITALI/ =MATIONS1 9 A CON/ANT POLITICAL /RUGGLE & 9 RECIPROCAL ECONOMIC RELATIONS4 ,H[ CAN ONE CAPTURE ?IS PROCESS 9 A BLOODLESS !ORETICAL FICTION1 :I* DECL>ES ?IS :OLE CONTEXT1 ! /RUGGLE & ! RELATIONS1 TO BE NON-EXI/5T8 

,H]E ESPECIALLY IT SEEMS NECESS>Y1 9 ! SPIRIT ( ,M>XI/ !ORY1 TO AB&ON ! PREMISE ( ! FIR/ VOLUME1 & TO C>RY \T ! 9QUIRY 9TO ACCUMULATION AS A TOTAL PROCESS1 9VOLV+ ! METABOLISM ( CAPITAL & ITS HI/ORICAL 5VIRONM5T4 ,IF ONE DOES ?IS1 !N ! EXPLANATION ( ! PROCESS FOLL[S FREELY FROM ,M>X'S1 BASIC !ORIES1 & IS CONSI/5T ) ! O!R PORTIONS ( HIS MAJOR WORKS ON ECONOMICS4 

,M>X HIMSELF ONLY POS$ ! QUE/ION ( ! ACCUMULATION ( GROSS CAPITAL1 BUT HIS ANSW] W5T NO FUR!R4 ,AS A BASIS = HIS ANALYSIS1 HE FIR/ SELECT$ ?AT PURE CAPITALI/ SOCIETY2 BUT NOT ONLY DID HE NOT TAKE ?IS ANALYSIS TO ITS CONCLUSION1 HE ALSO BROKE (F AT JU/ ?IS C5TRAL QUE/ION4 ,9 ORD] TO ILLU/RATE HIS CONCEPTION HE CON/RUCT$ SOME MA!MATICAL MODELS1 BUT H>DLY HAD HE />T$ ON !IR SIGNIFICANCE = PRACTICAL SOCIAL POSSIBILITIES & !IR V]IFICATION FROM ?IS /&PO9T :5 SICKNESS & DEA? =C$ HIM TO /OP WRIT+4 ,IT WAS CLE>LY LEFT TO HIS PUPILS TO SOLVE ?IS PROBLEM 7LIKE MANY O!RS71 & MY ,ACCUMULATION WAS 9T5D$ AS AN ATTEMPT 9 ?IS DIRECTION4 

,! SOLUTION ,I PROPOS$ MI<T HAVE BE5 JUDG$ AS CORRECT OR 9CORRECT2 IT C\LD HAVE BE5 CRITICIZ$1 CONTE/$1 SUPPLEM5T$2 OR ANO!R SOLUTION C\LD HAVE BE5 PRODUC$4 ,NONE ( ?IS HAPP5$4 ,:AT FOLL[$ WAS QUITE UNEXPECT$3 ! 'EXP]TS' EXPLA9$ ?AT !RE WAS NO PROBLEM TO BE SOLV$6 ,M>X'S ILLU/RATIONS 9 ! SECOND VOLUME ( ,CAPITAL W]E A SUFFICI5T & EXHAU/IVE EXPLANATION ( ACCUMULATION2 ! MODELS !RE PROV$ QUITE CONCLUSIVELY ?AT CAPITAL C\LD GR[ EXCELL5TLY1 & PRODUCTION C\LD EXP&1 IF !RE WAS NO O!R MODE ( PRODUCTION 9 ! WORLD ?AN ! CAPITALI/ ONE2 IT WAS ITS [N M>KET1 & ONLY MY COMPLETE 9ABILITY TO UND]/& ! ,A,B,C ( ,M>X'S MODELS C\LD P]SUADE ME TO SEE A PROBLEM H]E4 

,FOOTNOTES 

.<#a.> .<,VORW>TS WAS ! C5TRAL DAILY NEWSPAP] ( ! ,SOCIAL ,DEMOCRATIC ,P>TY ( ,G]MANY1 ,S,P,D1 PUBLI%$ 9 ,B]L94.> 

.<#b.> .<,FRANZ ,MEHR+ 7#a#h#d#f-#a#i#a#i74 ,BIOGRAPH] ( ,K>L ,M>X & CLOSE COLLABORATOR ( ,ROSA ,LUXEMBURG 9 H] ANTI-W> PROPAG&A1 #a#i#a#d-#a#h4 ,JO9$ ! ,S,P,D AT ! AGE ( =TY-SIX & WAS A BRILLIANT CONTRIBUTOR TO ITS NEWSPAP]S & J\RNALS4 ,) ,LUXEMBURG & ,LIEBKNE*T1 HE HELP$ TO F\ND ! ,SP>TAKUS ,LEAGUE 9 #aiai :I* WAS ! IMM$IATE =]UNN] ( ! ,K,P,D 7,COMMUNI/ ,P>TY ( ,G]MANY74.> 

.<#c.> .<,J4 ,K>SKI1 PSEUDONYM = ,JULIAN ,M>*LEWSKI4 ,HE WAS ONE ( ! LEAD]S ( ! ,S,D,K,P 7,SOCIAL ,DEMOCRACY ( ! ,K+DOM ( ,POL&74 ,K>SKI WORK$ = MANY YE>S 9 ,G]MANY AS AN ,S,P,D J\RNALI/4 ,9 #aiai HE W5T TO ,RUSSIA & BECAME AN ACTIVE MEMB] ( ! ,BOL%EVIK P>TY4 ,DI$ 9 #a#i#b#e4.> 

.<#d.> .<,PHYSIOCRATS4 ,EI<TE5?-C5TURY S*OOL ( ECONOMI/S4 ,! MA9 /R& 9 !IR !ORIES WAS ?AT ONLY AGRICULTURAL LABOR WAS PRODUCTIVE4 ,= ELABORATION & CRITICISM SEE ,K>L ,M>X1 ,!ORIES ( ,SURPLUS ,VALUE1 PT4#a 7,MOSC[74.> 

.<#e.> ,K>L ,M>X1 ,CAPITAL 7,=EIGN ,LANGUAGE ,PUBLI%+ ,H\SE1 ,MOSC[ #a#i#f#e71 ,VOL4,I1 P4#e#f#d4 

.<#f.>,CAPITAL1 ,VOL4,I1 P4#e#h#a1 FOOTNOTE #a4 

.<#g.>IBID41 ,VOL4,I,I1 P4#c#d#h4 

,FROM 3 ,M>XI/S4ORG4 

,*RONOLOGY 3 
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