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Unit-9: Origin of Capitalism, Theories of Capitalistic Development Surplus Value and Process of Capitalism

notes

Did You Know? Marx by propagating his theory of surplus value, wished to bring the
capitalist exploitation to the forefront. Simultaneously through this theory
he wished to clarify the economic basis of the opposition of the proletariat
class and the capitalist class.
Lenin has written that, “The theory of surplus value is the foundatio of Marx’s economic thoery. After
the laws related to the development of society, his materialistic education, this capable theory of the
proletariat related to the theory of surplus value is his second great discovery.”
francis W. cocker has written that, In the texts of Marx, the most influencial are those in which he
describe the attempts of capitalists, influenced by the compulsory necessity of profit, that they use
to extend and exploit their powers–strengths. Those parts of his granths are also very impactfull
where depicted the pathetic and worse condition of exploited labour through historical evidence and
description in government papers. He arrived at this certainty that to end these states, there is only
one solution; to destroy the opportunities for person loans–credits, interest and profit, and this result
can only be possible, where personal capital will be replaced by community capital; there will be no
capitalist or worker, and all persons will become producers.”
From the above discourse, it is clear that it was the definite belief of Marx that ‘surplus value’ is that
weapon with which the capitalist class continually oppress and exploit the working class, and this
exploitation is the primary reason for class–struggle. In this way there is an obvious relationship
between surplus value and class–struggle.

9.3 summary
To clarify Marx method of study, it can be said that Marx saw the historical materialism concept in
different states. First it will be said that Marx’s definition of history is neither subjective nor objective.
His method is scientific.
On this law of history, Marx’s study method states that, Socialism will come in opposition to Capitalism.
This stage is the transitional stage.
Marx has no attractive idiom – saying for egalitarianism, neither it is an idealism. This is the line on
which history has always been progressing

9.4 Keywords

1. capitalism : This is an economy system in which mostly, specially ownership and distribution
of produced commodities is done is personal basis on the obvious desire to profit, through
economic competition.

9.5 review Questions

1. Discuss the basic fundamental specialies of the capitalist system.
2. In which of his two main texts, Marx has not used the term ‘Capitalist’?
3. According to Marx which stage will follow its Capitalism?

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