- Editor's Note to the First American Edition By Ernest Untermann
- Author's Prefaces to the First and Second Editions, By Karl Marx
- I.—TO The First Edition.
- II.—TO The Second Edition.
- Editor's Prefaces, to the First English Translation and Fourth German Edition By Frederick Engels
- Editor's Preface to the First English Translation.
- Editor's Preface to the Fourth German Edition.
- Volume I. The Process of Capitalist Production.
- Book I. Capitalist Production.
- Part I. Commodities and Money.
- Part I, Chapter I Commodities.
- Section 1.—THE Two Factors of a Commodity: Use-value and Value (the Substance of Value and the Magnitude of Value).
- Section 2.—THE Twofold Character of the Labour Embodied In Commodities.
- Section 3.—THE Form of Value Or Exchange Value.
- A. Elementary Or Accidental Form of Value.
- 1. the Two Poles of the Expression of Value: Relative Form and Equivalent Form.
- 2. the Relative Form of Value.
- (a.) the Nature and Import of This Form.
- (b.) Quantitative Determination of Relative Value.
- 3. the Equivalent Form of Value.
- 4. the Elementary Form of Value Considered As a Whole.
- B. Total Or Expanded Form of Value.
- 1. the Expanded Relative Form of Value.
- 2. the Particular Equivalent Form.
- 3. Defects of the Total Or Expanded Form of Value.
- C. the General Form of Value.
- 1. the Altered Character of the Form of Value.
- 2. the Interdependent Development of the Relative Form of Value, and of the Equivalent Form.
- 3. Transition From the General Form of Value to the Money Form.
- D. the Money Form.
- Section 4.—THE Fetishism of Commodities and the Secret Thereof.
- Part I, Chapter Ii Exchange.
- Part I, Chapter Iii Money, Or the Circulation of Commodities.
- Section 1. The Measure of Values.
- Section 2.—THE Medium of Circulation.
- A. the Metamorphosis of Commodities.
- B. the Currency 82 of Money.
- C. Coin and Symbols of Value.
- Section 3.—MONEY.
- A. Hoarding.
- B. Means of Payment.
- C. Universal Money.
- Part II. the Transformation of Money Into Capital.
- Part Ii, Chapter Iv the General Formula For Capital.
- Part Ii, Chapter V Contradictions In the General Formula of Capital.
- Part Ii, Chapter Vi the Buying and Selling of Labour-power.
- Part III. the Production of Absolute Surplus-value.
- Part Iii, Chapter Vii the Labour-process and the Process of Producing Surplus-value.
- Section 1.—THE Labour-process Or the Production of Use-values.
- Section 2.—THE Production of Surplus-value.
- Part Iii, Chapter Viii Constant Capital and Variable Capital
- Part Iii, Chapter Ix the Rate of Surplus-value.
- Section 1.—THE Degree of Exploitation of Labour-power.
- Section 2.—THE Representation of the Components of the Value of the Product By Corresponding Proportional Parts of the Product Itself.
- Section 3.—SENIOR'S "last Hour."
- Section 4.—SURPLUS Produce
- Part Iii, Chapter X the Working Day
- Section 1—the Limits of the Working Day
- Section 2.—THE Greed For Surplus Labor, Manufacturer and Boyard
- Section 3.—BRANCHES Of English Industry Without Legal Limits to Exploitation
- Section 4.—DAY And Night Work. the Relay System
- Section 5.—THE Struggle For a Normal Working Day. Compulsory Laws For the Extension of the Working Day From the Middle of the 14th to the End of the 17th Century
- Section 6.—THE Struggle For the Normal Working Day. Compulsory Limitation By Law of the Working Time. the English Factory Acts, 1833 to 1864.
- Section 7.—THE Struggle For the Normal Working-day. Re-action of the English Acts On Other Countries.
- Part Iii, Chapter Xi Rate and Mass of Surplus-value.
- Part IV. Production of Relative Surplus-value.
- Part Iv, Chapter Xii the Concept of Relative Surplus-value.
- Part Iv, Chapter Xiii Co-operation.
- Part Iv, Chapter Xiv Division of Labour and Manufacture.
- Section 1.—TWOFOLD Origin of Manufacture.
- Section 2.—THE Detail Labourer and His Implements.
- Section 3.—THE Two Fundamental Forms of Manufacture: Heterogeneous Manufacture, Serial Manufacture.
- Section 4.—DIVISION Of Labour In Manufacture, and Division of Labour In Society.
- Section 5.—THE Capitalistic Character of Manufacture.
- Part Iv, Chapter Xv Machinery and Modern Industry.
- Section 1.—THE Development of Machinery.
- Section 2.—THE Value Transferred By Machinery to the Product
- Section 3.—THE Approximate Effects of Machinery On the Workman.
- A. Appropriation of Supplementary Labour-power By Capital. the Employment of Women and Children.
- B. Prolongation of the Working-day.
- C. Intensification of Labour
- Section IV.—THE Factory
- Section 5.—THE Strife Between Workman and Machine
- Section 6.—THE Theory of Compensation As Regards the Workpeople Displaced By Machinery.
- Section 7.—REPULSION And Attraction of Workpeople By the Factory System. Crisis In the Cotton Trade.
- Section 8.—REVOLUTION Effected In Manufacture, Handicrafts. and Domestic Industry By Modern Industry.
- A. Overthrow of Co-operation Based On Handicraft and On the Division of Labour.
- B. Re-action of the Factory System On Manufacture and Domestic Industries.
- C. Modern Manufacture.
- D. Modern Domestic Industry.
- E. Passage of Modern Manufacture, and Domestic Industry Into Modern Mechanical Industry. the Hastening of This Revolution By the Application of the Factory Acts to Those Industries.
- Section 9.—THE Factory Acts. Sanitary and Education Clauses of the Same. Their General Extension In England.
- Section 10.—MODERN Industry and Agriculture.
- Part V. the Production of Absolute and of Relative Surplus-value.
- Part V, Chapter Xvi Absolute and Relative Surplus-value.
- Part V, Chapter Xvii Changes of Magnitude In the Price of Labour-power and In Surplus-value.
- 1. Length of the Working Day and Intensity of Labour Constant. Productiveness of Labour Variable.
- II. Working-day Constant. Productiveness of Labour Constant. Intensity of Labour Variable.
- III. Productiveness and Intensity of Labour Constant. Length of the Working-day Variable.
- IV.— Simultaneous Variations In the Duration, Productiveness, and Intensity of Labour.
- (1). Diminishing Productiveness of Labour With a Simultaneous Lengthening of the Working-day.
- (2) Increasing Intensity and Productiveness of Labour With Simultaneous Shortening of the Working-day.
- Part V, Chapter Xviii Various FormulÆ For the Rate of Surplus-value.
- Part VI. Wages.
- Part Vi, Chapter Xix the Transformation of the Value (and Respectively the Price) of Labour-power Into Wages.
- Part Vi, Chapter Xx Time-wages.
- Part Vi, Chapter Xxi Piece-wages.
- Part Vi, Chapter Xxii National Differences of Wages.
- Part VII. the Accumulation of Capital.
- Part Vii, Chapter Xxiii Simple Reproduction.
- Part Vii, Chapter Xxiv Conversion of Surplus-value Into Capital.
- Section I.—CAPITALIST Production On a Progressively Increasing Scale. Transition of the Laws of Property That Characterise Production of Commodities Into Laws of Capitalist Appropriation.
- Section 2.—ERRONEOUS Conception By Political Economy of Reproduction On a Progressively Increasing Scale.
- Section 3.—SEPARATION Of Surplus-value Into Capital and Revenue. the Abstinence Theory.
- Section 4.—CIRCUMSTANCES That, Independently of the Division of Surplus-value Into Capital and Revenue, Determine the Amount of Accumulation. Degree of Exploitation of Labour-power. Productivity of Labour. Growing Difference In Amount Between Capital Empl
- Section 5.—THE So-called Labour Fund.
- Part Vii, Chapter Xxv the General Law of Capitalist Accumulation.
- Section 1.—THE Increased Demand For Labour-power That Accompanies Accumulation, the Composition of Capital Remaining the Same.
- Section 2.—RELATIVE Diminution of the Variable Part of Capital Simultaneously With the Progress of Accumulation and of the Concentration That Accompanies It.
- Section 3.—PROGRESSIVE Production of a Relative Surplus-population Or Industrial Reserve Army.
- Section 4.—DIFFERENT Forms of the Relative Surplus-population. the General Law of Capitalistic Accumulation.
- Section 5.—ILLUSTRATIONS Of the General Law of Capitalist Accumulation.
- ( A. ) England From 1846-1866.
- (b). the Badly Paid Strata of the British Industrial Class.
- C. the Nomad Population.
- (d). Effect of Crises On the Best Paid Part of the Working Class.
- (e.) the British Agricultural Proletariat.
- (1.) Bedfordshire.
- (2.) Berkshire.
- (3.) Buckinghamshire.
- (4.) Cambridgeshire.
- (5.) Essex.
- (6.) Herefordshire.
- (7.) Huntingdon.
- (8.) Lincolnshire.
- (9.) Kent.
- (10.) Northamptonshire.
- (11.) Wiltshire.
- (12.) Worcestershire.
- (f.) Ireland.
- Part VIII. the So-called Primitive Accumulation.
- Part Viii, Chapter Xxvi the Secret of Primitive Accumulation.
- Part Viii, Chapter Xxvii Expropriation of the Agricultural Population From the Land.
- Part Viii, Chapter Xxviii Bloody Legislation Against the Expropriated, From the End of the 15th Century. Forcing Down of Wages By Acts of Parliament.
- Part Viii, Chapter Xxix Genesis of the Capitalist Farmer.
- Part Viii, Chapter Xxx Reaction of the Agricultural Revolution On Industry. Creation of the Home Market For Industrial Capital.
- Part Viii, Chapter Xxxi Genesis of the Industrial Capitalist.
- Part Viii, Chapter Xxxii Historical Tendency of Capitalist Accumulation.
- Part Viii, Chapter Xxxiii the Modern Theory of Colonisation. 70
- Works and Authors Quoted In "capital"
Part VI, Chapter XX
WAGES themselves again take many forms, a fact not recognizable in the ordinary economical treatises which, exclusively interested in the material side of the question, neglect every difference of form. An exposition of all these forms however, belongs to the special study of wage-labour, not therefore to this work. Still the two fundamental forms must be briefly worked out here.
The sale of labour-power, as will be remembered, takes place for a definite period of time. The converted form under which the daily, weekly, 8c., value of labour-power presents itself, is hence that of time-wages, therefore day-wages, 8c.
Next it is to be noted that the laws set forth, in the 17th chapter, on the changes in the relative magnitudes of price of labour-power and surplus-value, pass by a simple transformation of form, into laws of wages. Similarly the distinction between the exchange-value of labour-power, and the sum of the necessaries of life into which this value is converted, now reappears as the distinction between nominal and real wages. It would be useless to repeat here, with regard to the phenomenal form, what has been already worked out in the substantial form. We limit ourselves therefore to a few points characteristic of time-wages.
The sum of money which the labourer receives for his daily or weekly labour, forms the amount of his nominal wages, or of his wages estimated in value. But it is clear that according to the length of the working-day, that is, according to the amount of actual labour daily supplied, the same daily or weekly wage may represent very different prices of labour, i.e., very different sums of money for the same quantity of labour. We must, therefore, in considering time-wages, again distinguish between the sum total of the daily or weekly wages, 8c., and the price of labour. How then to find this price, i.e., the money-value of a given quantity of labour? The average price of labour is found, when the average daily value of the labour-power is divided by the average number of hours in the working-day. If, e.g., the daily value of labour-power is 3 shillings, the value of the product of 6 working hours, and if the working-day is 12 hours, the price of 1 working hour is 3/12 shillings=3d. The price of the working-hour thus found serves as the unit measure for the price of labour.
It follows therefore that the daily and weekly wages, 8c., may remain the same, although the price of labour falls constantly. If, e.g., the habitual working-day is 10 hours and the daily value of the labour-power 3s., the price of the working hour is 3 3/5d. It falls to 3d. as soon as the working-day rises to 12 hours, to 2 2/5 d. as soon as it rises to 15 hours. Daily or weekly wages remain, despite all this, unchanged. On the contrary, the daily or weekly wages may rise, although the price of labour remains constant or even falls. If, e.g., the working day is 10 hours, and the daily value of labour-power 3 shillings, the price of one working hour is 3 3/5 d. If the labourer in consequence of increase of trade works 12 hours, the price of labour remaining the same, his daily wage now rises to 3 shillings 7 1/5 d. without any variation in the price of labour. The same result might follow if, instead of the extensive amount of labour, its intensive amount increased. The rise of the nominal daily or weekly wages may therefore be accompanied by a price of labour that remains stationary or falls. The same holds as to the income of the labourer's family, as soon as the quantity of labour expended by the head of the family is increased by the labour of the members of his family. There are, therefore, methods of lowering the price of labour independent of the reduction of the nominal daily or weekly wages.
As a general law it follows that, given the amount of daily, weekly labour, 8c., the daily or weekly wages depend on the price of labour which, itself varies either with the value of labour-power, or with the difference between its price and its value. Given, on the other hand, the price of labour, the daily or weekly wages depend on the quantity of the daily or weekly labour.
The unit measure for time-wages, the price of the working hour, is the quotient of the value of a day's labour-power, divided by the number of hours of the average working-day. Let the latter be 12 hours, and the daily value of labour-power 3 shillings, the value of the product of 6 hours of labour. Under these circumstances the price of a working-hour is 3d., the value produced in it is 6d. If the labourer is now employed less than 12 hours (or less than 6 days in the week), e.g., only 6 or 8 hours, he receives, with this price of labour, only 2s. or 1s. 6d. a day. As on our hypothesis he must work on the average 6 hours daily, in order to produce a day's wage corresponding merely to the value of his labour-power, as according to the same hypothesis he works only half of every hour for himself, and half for the capitalist, it is clear that he cannot obtain for himself the value of the product of 6 hours if he is employed less than 12 hours. In previous chapters we saw the destructive consequences of over-work; here we find the sources of the sufferings that result to the labourer from his insufficient employment.
If the hour's wage is fixed so that the capitalist does not bind himself to pay a day's or a week's wage, but only to pay wages for the hours during which he chooses to employ the labourer, he can employ him for a shorter time than that which is originally the basis of the calculation of the hour-wage, of the unit-measure of the price of labour. Since this unit is determined by the ratio (daily value of labour-power)/(working-day of a given number of hours). it, of course, loses all the meaning as soon as the working day ceases to contain a definite number of hours. The connexion between the paid and the unpaid labour is destroyed. The capitalist can now wring from the labourer a certain quantity of surplus-labour without allowing him the labour-time necessary for his own subsistence. He can annihilate all regularity of employment, and according to his own convenience, caprice, and the interest of the moment, make the most enormous over-work alternate with relative or absolute cessation of work. He can, under the pretence of paying "the normal price of labour," abnormally lengthen the working-day without any corresponding compensation to the labourer. Hence the perfectly rational revolt in 1860 of the London labourers, employed in the building trades, against the attempt of the capitalists to impose on them this sort of wage by the hour. The legal limitation of the working-day puts an end to such mischief, although not, of course, to the diminution of employment caused by the competition of machinery, by changes in the quality of the labourers employed, and by crisis partial or general.
With an increasing daily or weekly wage the price of labour may remain nominally constant, and yet may fall below its normal level. This occurs every time that, the price of labour (reckoned per working hour) remaining constant, the working-day is prolonged beyond its customary length. If in the fraction: (daily value of labour-power)/(working-day) the denominator increases, the numerator increases yet more rapidly. The value of labour-power, as dependent on its wear and tear, increases with the duration of its functioning, and in more rapid proportion than the increase of that duration. In many branches of industry where time-wage is the general rule without legal limits to the working-time, the habit has, therefore, spontaneously grown up of regarding the working-day as normal only up to a certain point, e.g., up to the expiration of the tenth hour ("normal working-day," "the day's work," "the regular hours of work"). Beyond this limit the working-time is over-time, and is, taking the hour as unit-measure, paid better ("extra pay"), although often in a proportion ridiculously small. The normal working-day exists here as a fraction of the actual working-day, and the latter, often during the whole year, lasts longer than the former. The increase in the price of labour with the extension of the working-day beyond a certain normal limit, takes such a shape in various British industries that the low price of labour during the so-called normal time compels the labourer to work during the better paid over-time, if he wishes to obtain a sufficient wage at all. Legal limitation of the working-day puts an end to these amenities.
It is a fact generally known that, the longer the working-days, in any branch of industry, the lower are the wages. A. Redgrave, factory-inspector, illustrates this by a comparative review of the 20 years from 1839-1859, according to which wages rose in the factories under the 10 hours' law, whilst they fell in the factories in which the work lasted 14 to 15 hours daily.
From the law: "the price of labour being given, the daily or weekly wage depends on the quantity of labour expended," it follows, first of all, that, the lower the price of labour, the greater must be the quantity of labour, or the longer must be the working-day for the labourer to secure even a miserable average-wage. The lowness of the price of labour acts here as a stimulus to the extension of the labour-time.
On the other hand, the extension of the working-time produces, in its turn, a fall in the price of labour, and with this a fall in the day's or week's wages.
The determination of the price of labour by:
(daily value of labour-power)/(working-day of a given number of hours),
shows that a mere prolongation of the working-day lowers the price of labour, if no compensation steps in. But the same circumstances which allow the capitalist in the long run to prolong the working-day, also allow him first, and compel him finally, to nominally lower the price of labour, until the total price of the increased number of hours is lowered, and, therefore, the daily or weekly wage. Reference to two circumstances is sufficient here. If one man does the work of 1½ or 2 men, the supply of labour increases, although the supply of labour-power on the market remains constant. The competition thus created between the labourers allows the capitalist to beat down the price of labour, whilst the falling price of labour allows him, on the other hand, to screw up still further the working-time. Soon, however, this command over abnormal quantities of unpaid labour, i.e., quantities in excess of the average social amount, becomes a source of competition amongst the capitalists themselves. A part of the price of the commodity consists of the price of labour. The unpaid part of the labour-price need not be reckoned in the price of the commodity. It may be presented to the buyer. This is the first step to which competition leads. The second step to which it drives, is to exclude also from the selling-price of the commodity, at least a part of the abnormal surplus-value created by the extension of the working-day. In this way an abnormally low selling-price of the commodity arises, at first sporadically, and becomes fixed by degrees; a lower selling price which henceforward becomes the constant basis of a miserable wage for an excessive working-time, as originally it was the product of these very circumstances. This movement is simply indicated here, as the analysis of competition does not belong to this part of our subject. Nevertheless, the capitalist may, for a moment, speak for himself. "In Birmingham there is so much competition of masters one against another, that many are obliged to do things as employers that they would otherwise be ashamed of; and yet no more money is made, but only the public gets the benefit." The reader will remember the two sorts of London bakers, of whom one sold the bread at its full price (the "full-priced" bakers), the other below its normal price ("the underpriced," "the undersellers"). The "full-priced" denounced their rivals before the Parliamentary Committee of Inquiry: "They only exist now by first defrauding the public, and next getting 18 hours' work out of their men for 12 hours' wages.... The unpaid labour of the men was made...the source whereby the competition was carried on, and continues so to this day.... The competition among the master bakers is the cause of the difficulty in getting rid of night-work. An underseller, who sells his bread below the cost price according to the price of flour, must make it up by getting more out of the labour of the men.... If I got only 12 hours' work out of my men, and my neighbour got 18 or 20, he must beat me in the selling price. If the men could insist on payment for over-work, this would be set right.... A large number of those employed by the undersellers are foreigners, and youths, who are obliged to accept almost any wages they can obtain."
This jeremiad is also interesting because it shows, how the appearance only of the relations of production mirrors itself in the brain of the capitalist. The capitalist does not know that the normal price of labour also includes a definite quantity of unpaid labour, and that this very unpaid labour is the normal source of his gain. The category, surplus-labour-time, does not exist at all for him, since it is included in the normal working-day, which he thinks he has paid for in the day's wages. But overtime does exist for him, the prolongation of the working day beyond the limits corresponding with the usual price of labour. Face to face with his underselling competitor, he even insists upon extra pay for this overtime. He again does not know that this extra pay includes unpaid labour, just as well as does the price of the customary hour of labour. For example, the price of one hour of the 12 hours' working-day is 3d., say the value-product of half a working-hour, whilst the price of the overtime working-hour is 4d., or the value-product of 2/3 of a working-hour. In the first case the capitalist appropriates to himself one-half, in the second, one-third of the working-hours without paying for it.