A companion to marxs capital the complete edition

A Companion to Marx’s Capital A Companion to Marx’s Capital The Complete Edition David Harvey This complete edition published by Verso 2018 © David Harvey 2018 A Companion to Marx’s Capital, Volume I First published by Verso 2010 © David Harvey 2010 A Companion to Marx’s Capital, Volume II First published by Verso 2013 © David Harvey 2013 All rights reserved The moral rights of the author and translator have been asserted 10 Verso UK: Meard Street, London W1F 0EG USA: 20 Jay Street, Suite 1010, Brooklyn, NY 11201 versobooks.com Verso is the imprint of New Left Books ISBN-13: 978-1-78873-154-6 ISBN-13: 978-1-78873-155-3 (UK EBK) ISBN-13: 978-1-78873-156-0 (US EBK) British Library Cataloguing in Publication Data A catalogue record for this book is available from the British Library Library of Congress Cataloging-in-Publication Data A catalog record for this book is available from the Library of Congress Typeset in Minion Pro by Hewer Text UK Ltd, Edinburgh Printed and bound by CPI Group (UK) Ltd, Croydon, CR0 4YY Contents Volume I Preface Introduction Part I Commodities and Exchange Money Part II From Capital to Labor Power Part III The Labor Process and the Production of Surplus Value The Working Day Part IV Relative Surplus-Value What Technology Reveals Machinery and Large-Scale Industry Part V–VIII From Absolute and Relative Surplus-Value to the Accumulation of Capital 10 Capitalist Accumulation 11 The Secret of Primitive Accumulation Reflections and Prognoses Volume II A Note on the Texts Used Introduction The Circuits of Capital Chapters 1–3 of Capital, Volume II The Three Figures of the Circuit and the Continuity of Capital Flow Chapters 4–6 of Capital, Volume II The Question of Fixed Capital Chapters 7–11 of Capital, Volume II Merchants’ Capital Chapters 16–20 of Capital, Volume III Interest, Credit and Finance Chapters 21–26 of Capital, Volume III Marx’s Views on the Credit System Chapters 27–37 of Capital, Volume III The Role of Credit and the Banking System Chapters 27 Onwards in Capital, Volume III The Time and Space of Capital Chapters 12–14 of Capital, Volume II Circulation and Turnover Times Chapters 15–17 of Capital, Volume II 10 The Reproduction of Capital Chapters 18–20 of Capital, Volume II 11 The Problem of Fixed Capital and Expanded Reproduction Chapters 20 and 21 of Capital, Volume II 12 Reflections Notes Index Volume I Preface When it became known that the lectures I give annually on Marx’s Capital, Volume I, were about to go online as a video series, I was approached by Verso and asked whether I would have any interest in preparing a written version For a variety of reasons, I agreed to the idea To begin with, the failing economy and the onset of what threatens to be a serious global crisis, if not depression, have generated an upwelling of interest in Marx’s analysis to see whether it can help us understand the origins of our current predicaments The problem, however, is that the past thirty years, most particularly since the fall of the Berlin Wall and the end of the cold war, have not been a very favorable or fertile period for Marxian thought, and most certainly not for Marxian revolutionary politics As a consequence, a whole younger generation has grown up bereft of familiarity with, let alone training in, Marxian political economy It therefore appeared an opportune moment to produce a guide to Capital that would open the door for this generation to explore for itself what Marx might be about The timing for a constructive reevalution of Marx’s work is opportune in another sense The fierce oppositions and innumerable schisms within the Marxist movement that bedeviled the 1970s, affecting not only political practices but also theoretical orientations, have faded somewhat, as has the appetite for pure academicism which, on the one hand, helped keep interest in Marx alive in difficult times, but, on the other, did so at the price of arcane and often highly abstract arguments and reflections My sense is that those who wish to read Marx now are far more interested in practical engagements, which does not mean they are fearful of abstractions but rather that they find academicism boring and irrelevant There are many students and activists who desperately desire a strong theoretical base to better grasp how everything relates to everything else, so as to situate and contextualize their own particular interests and practical political work I hope that this presentation of the basics of Marxian theory will help them that In preparing this text, I worked from transcripts prepared by Katharina Bodirsky (to whom many thanks) of the audio recording of the lectures given in the spring of 2007 The video lectures (see davidharvey.org), organized by Chris Caruso (who also designed the website) and filmed by the Media College of the University of the Poor in New York and the Media Mobilizing Project in Philadelphia, were given in the fall of 2007 I want to thank Chris and everyone else for all their volunteer work on the project There were, however, significant differences between the audio and the video versions These arose mainly because I always give the lectures in a somewhat extempore way, concentrating on different aspects of the text depending on political and economic events, as well as on my own interests (and even whims) of the moment Class discussions also frequently redirect attention in unpredictable ways Unfortunately, space would not allow for inclusion of the discussions, but I have several times incorporated elements from them into the main body of the text when that seemed appropriate While I worked mainly from the audio version, I incorporated elements from the video materials as well Of course, the editing of the transcripts had to be fairly draconian, in part for space reasons, but also because the translation from the spoken to the written word always requires significant and in some cases quite drastic modifications I have also taken the opportunity to clear up some matters not covered in the lectures and to add a few further thoughts here and there The text I use in the course is the translation by Ben Fowkes first published by Pelican Books and the New Left Review in 1976, republished by Vintage in 1977, and then in a Penguin Classics edition in 1992 The page numbers referred to are from these editions My hope is that this “companion”—and I really think of it as a companion on a journey rather than as an introduction or interpretation—will provide a helpful entry to Marx’s political economy for anyone who wants to travel that road I have tried to keep the presentation at an introductory level without, I hope, oversimplification Furthermore, I have not considered in any detail the many controversies that swirl around diverse interpretations of the text At the same time, the reader should understand that what is presented here is not a neutral interpretation, but a reading that I have arrived at over nearly forty years of teaching this text to all manner of people from all sorts of backgrounds (to whom I am indebted, since they have taught me a great deal), while also trying to use Marx’s thought constructively in my own academic research in relation to political action I not seek to persuade people to adopt my own distinctive point of view My ambition is to use my point of view as a gateway for others anxious to construct interpretations that are maximally meaningful and useful to them in the particular circumstances of their lives If I have only partially succeeded in that, then I will be absolutely delighted Introduction My aim is to get you to read a book by Karl Marx called Capital, Volume I, and to read it on Marx’s own terms.1 This may seem a bit ridiculous, since if you haven’t yet read the book you can’t possibly know what Marx’s terms are; but one of his terms, I can assure you, is that you read, and read carefully Real learning always entails a struggle to understand the unknown My own readings of Capital, collected in the present volume, will prove far more enlightening if you have read the pertinent chapters beforehand It is your own personal encounter with this text that I want to encourage, and by struggling directly with Marx’s text, you can begin to shape your own understanding of his thought This poses an immediate difficulty Everybody has heard of Karl Marx, of terms like “Marxism” and “Marxist,” and there are all kinds of connotations that go with those words So you are bound to begin with preconceptions and prejudices, favorable or otherwise; but I first have to ask you to try, as best you can, to set aside all those things you think you know about Marx so that you can engage with what he actually has to say There are still other obstacles to achieving this sort of direct engagement We are bound, for example, to approach a text of this kind by way of our particular intellectual formations and experiential histories For many students these intellectual formations are affected, if not governed, by academic considerations and concerns; there is a natural tendency to read Marx from a particular and exclusionary disciplinary standpoint Marx himself would never have gotten tenure at a university in any discipline, and to this day most departmental apparatuses are disinclined to accept him as one of their own So if you are a graduate student and want to read him right, then you’d better forget about what will get you tenure in your field—not in the long run, of course, but at least for the purpose of reading Marx You have, in short, to struggle mightily to determine what he is saying beyond what you can easily understand by way of your particular disciplinary apparatus, your own intellectual formation and, even more important, your own experiential history (whether as a labor or community organizer or a capitalist entrepreneur) One important reason for taking such an open stance toward this reading is that Capital turns out to be an astonishingly rich book Shakespeare, the Greeks, Faust, Balzac, Shelley, fairy tales, werewolves, vampires and poetry all turn up in its pages alongside innumerable political economists, philosophers, anthropologists, journalists and political theorists Marx draws on an immense array of sources, and it can be instructive—and fun—to track these down Some of the references can be elusive, as he often fails to acknowledge them directly; I uncover yet more connections as I continue to teach Capital over the years When I first started I had not read much Balzac, for example Later, when reading Balzac’s novels, I found myself often saying, “Ah, that’s where Marx got it from!” He apparently read Balzac comprehensively and had the ambition to write a full study of the Comedie Humaine when he got through with Capital Reading Capital and Balzac together helps explain why S o Capital is a rich and multidimensional text It draws on a vast experiential world as conceptualized in a great diversity of literatures written in many languages at different places and times I am not saying, I hasten to add, that you will not be able to make sense of Marx unless you get all the references But what does inspire me, and I hope will inspire you, is the idea that there is an immense array of resources out there that can shed light on why we live life the way we In the same way that all of them are grist for Marx’s mill of understanding, so we, too, can make them grist “For a Ruthless Criticism of Everything that Exists” (Marx), Forbes list, 292 Ford, Henry, 247–248, 285, 383, 719 Fordist productionism, 187, 220 foreclosures (US), 314, 337, 506, 564, 714 Foucault, Michel, 4, 149–151 Fourier, Charles, 8, 115, 117, 180 Fowkes, Ben, 2, France, 559–560, 576, 680, 682 35-hour work week, 160 auto industries in, 282 British factory law impact on, 157–158 classical political economists, gang system in, 211 military labor, 143 utopian socialists of, 47 Franco-Prussian War (1870-1), 143 Franklin, Benjamin, 98, 118, 192 French Communist Party, 583 French Revolution, 559 Friedman, Milton, 252, 479 Friedman, Thomas, 194 G20 meeting, 403 Gaia hypothesis (Lovelock), 114 Galen, 679, 680, 681 gang system, 211–212, 234 Gap (company), 161, 501 Garrastazu Médici, Emílio, 211 General Motors (company), 505 General Motors Acceptance Corporation, 505 General Theory of Employment, Interest and Money (Keynes), 69, 335 Genoa, Italy, 500, 574, 576, 636 gentrification (New York and London), 313 geographical space-time, 39–40, 181, 184, 208, 328, 340 Germany, 403, 490, 576, 668, 670 critical philosophy of, 7, Hegelian dialectic in, 13 labor and technology in, 215–216, 244, 282 military labor, 143 Ghana, 728 Gifford, Kathy Lee, 162 Gilbart, William James, 539 Giuliani, Rudy, 14 global capitalism See debt; neoliberalism globalization, 389, 421–423, 422, 626, 630–631, 705 in Communist Manifesto, 21–22 Glorious Revolution of 1688, 297 Glyn, Andrew, 322, 341 gold, 59, 73, 82, 335, 452, 495, 504, 526–527, 552, 554, 557, 560–570, 581, 590, 595–546, 611–612, 653–660, 676, 680, 698, 706 Goldman Sachs, 364, 444, 496 Goldsmith, Oliver, 297 Gramsci, Antonio, 203, 315, 369 Gray, John, 194n4, 195n4, 297 “the great betrayal” (Reform Act), 152–153 Great Depression, 246 Greece, 530, 566, 567, 576, 591, 612 Greek philosophy, 7, 38, 113 greenfield sites, 230, 300, 310, 313, 500 Greenspan, Alan, 565 growth, 203–204, 261–262, 432, 454, 477, 526, 552–553, 564, 597, 606, 635, 655, 667–672, 685, 707–738 See also accumulation Grundrisse (Marx) “annihilation of space by time,” 40n2, 208 Capital study overview, 12, 262 on competition, 169 on credit system, 35 on labor-power, 122 limits and barriers relation, 339 methodological prescriptions of, 88–89 on money as community, 74 on falling rate of profit, 267, 327 on primitive accumulation, 296 Guantánamo Bay, 102 Guatemala, 285 Harvey, David, works, Brief History of Neoliberalism, 287, 311–312 Condition of Postmodernity, 356 Enigma of Capital, 679, 681, 690 Limits to Capital, 12, 97, 224, 327, 333, 459, 489–490, 538, 626, 737 New Imperialism, 311–312 Paris: Capital of Modernity, 98–99, 128 Spaces of Capital, 97 Spaces of Global Capitalism, 40n3 Harvey, William, 679–681 Hawken, Paul, 198 Hayek, Friedrich, 102, 252 Heath, Edward, 161 Hegel, G W F., 7, 13, 115, 305, 369 hegemony, 203, 574, 739 Henry VII (king), 296 Henry VIII (king), 575 Highland clearances, 297–298 Hilferding, Rudolf, 525 Hippasus, 530 hoarding See accumulation Hobbes, Thomas, Hobson, John Atkinson, 525 Holland, 574 Holloway, John, 117 Homestead Act (US), 304 Honduras, 162 Hong Kong, 217, 421, 505 Horner, Leonard, 154 House of Lords, 152 House of Rothschild, 568 HSBC, 364 humanists (eighteenth century), 271 human rights, 51 See also rights Hume, David, “hybrid” labor systems, 504 Icarians, ICE (Immigration and Customs Enforcement), 162 IKEA (company), 453, 501, 504 IMF (International Monetary Fund), 274, 603, 723, 733 immigrants, 162, 212, 304, 422, 437, 476, 736 Immigration and Customs Enforcement (ICE), 162 immigration policies, 281–283, 321 See also labor; state India, 421, 455, 456, 479, 634, 651 imperialist expansion in, 225, 309, 331, 334 neoliberalism in, 292, 310, 313, 341 opium from, 96, 227, 309 proletarianization of, 280, 299, 309 See also Britain individualism, 116, 292 See also rights individual versus class (capitalist), 98, 148, 166–171, 231–233, 321 calculation of, 420 in coercive laws of competition, 377 consumption of, 403 costs of storage, 452, 455 expanded reproduction, 705, 717, 723 fixed capital and value theory, 489, 619–622 machinery and, 615 Marx on, 526, 542–545, 672, 674 money capital at disposal, 677 money circulation, 693–696 organization of production of value, 422 production of space, 474 role of credit and banking system, 583–584, 661 supply and demand, 428 turnover time, 482, 646, 657 Indonesia, 285 indulgence, sale of, 74 industrial capital origins, 299–300, 331, 400 See also accumulation industrial pathology, 189 infrastructure, 361, 462, 477–479, 481, 488, 583, 600, 648–649, 708 in base-superstructure model, 201 centralization (state) and, 274, 323 industrial interest in, 157, 231, 268 necessity of, 118–119, 322 private versus state funding of, 319 social (job-training), 327 as surplus absorption, 224, 327 variable standards of, 106–107 An Inquiry into the Principles of the Distribution of Wealth (Thompson), 654 interest of enterprise, 543–550 interest-bearing capital, 532–540 International Monetary Fund (IMF), 274, 603, 723, 733 Interrelation of the Elements (diagram), 197 Invention of Capitalism (Perelman), 295 Iowa meatpacking plant (2008), 162 Iraq, 591 Ireland, 567, 590, 602, 621 Irish immigrants, 251–282 Iron City, 634 Islamic law on interest, 98 Issue Department, 566–567 Italy, 217, 421, 500, 567, 574, 576, 636 Itoh, Makoto, 322 Japan, 448, 453, 545, 564, 565, 602, 618, 625, 631, 739 auto industry, 173, 229, 230, 300 growth in, 203, 261 “just-in-time” structure, 181 karôshi (overwork), 145 Johns Hopkins University, 5–6, 42, 49 “joint products,”, 469 “just-in-time” systems, 181, 230–231, 631 Kalecki, Michael, 724 Kant, Immanuel, 7, 114 Karl Marx’s Theory of History (Cohen), 195 karôshi (overwork), 145 Keynes, John Maynard, 390, 528, 570, 680, 723 on anticipation and expectation, 334–335 effective demand, 246 liquidity trap, 69–70, 340 underconsumptionist theory, 332, 338 welfare state, 172–173 Keynesian economic theory, 561, 567–568, 686, 722, 724, 725 Kirchhof, Paul, 624 Kropotkin, Peter, 193, 199 labor, 351–383, 387, 389, 392–397, 400–408, 411–413, 419, 424–425, 436, 443, 539, 650, 665, 736 in China, 19, 210, 222, 667–668 collective, 239–240, 442–443 corvée system, 46, 141–142 deskilling, 182–183, 217–219, 277, 549 division of, 182–186, 497–498, 508, 618, 671–672, 726, 742 Engels on, 158, 450, 587–588 family system, 234, 437, 505 floating, 280–283, 320 Fourier on, 115, 180 gang system, 211–212, 234 immigration, 281–283, 321 intensification, 214 labor-power, 122, 167–168, 292, 293, 317, 320, 370, 387, 450 labor-supply politics, 321 latent, 279–282, 285 Lockean view, 121, 251 military, 143–144, 153, 321 Puerto Rican, 281–282 reserve army of, 320, 365, 650, 665, 736 servant, 224–225 skilled and deskilled, 128, 219, 549 slave, 38, 129, 177, 301, 309, 436, 498, 539, 548 Smith on, 184 stagnant, 280, 281, 320 systems, in competition, 227–228, 229 time discipline, 149 Labor and Monopoly Capital (Braverman), 218 labor-power, 370, 387, 450 Landless Workers’ Movement in Brazil (MST), 312, 315 l’Assomoire (Zola), 504 latent capital, 445, 661 latent population, 280–283 Latin America, 625 current production in, 341 gold from, 59 imperialist production in, 334 liberation theology, 107 peasant expropriation, 310 rural economic destruction, 286 “the laws of motion of capital” (Marx), 355 League of Nations, 102 Leatham, W., 554 Leeds, England, 300 Lefebvre, Henri, 198, 344, 369, 475 Lehman Brothers, 575, 607 Leibniz, Gottfried, lending, 598–602 Lenin, Vladimir, 186–187, 221–221, 477, 525, 577 Leontief, Wassily, 670, 671, 727 Levellers, 314 Levi Strauss (company), 161 liberalism See neoliberalism Lichnowsky, Karl Max, 258 Lille, France, 421, 630 The Limits to Capital (Harvey), 12, 97, 224, 327, 333, 459, 489–490, 538, 626, 737 liquidity crises, 81–82, 228, 337, 340 liquidity trap, 340 Liverpool, England, 301 Liz Claiborne (company), 504 loans, 598–602 Locke, John, 7, 84, 102, 293 Lockean theory, 121, 251, 256 London, England, 313, 459, 577, 620, 633–634, 635 The Long Twentieth Century (Arrighi), 502–503 Los Angeles, California, 479 Louis XV, 679 Lovelock, James, 114 Lowell, Massachusetts, 421, 719 Luddite movement, 219, 222, 326 Lula (Luiz Inácio “Lula” da Silva), 315 Luther, Martin, 564, 572, 573 Luxemburg, Rosa, 359, 671–672 The Accumulation of Capital, 658, 722 and dispossession (contemporary), 313–314, 315 on imperialism and effective demand, 96, 307–309, 330–331, 332–333, 338 machinery, 192, 204, 208, 221, 460 See also technology Madison Avenue, 519 Madness and Civilization (Foucault), 151 Maghrebians, 282 Main Street, 562, 564, 570 Malthus, Thomas, 429, 658, 667, 738 and Darwin, 193, 199 on effective demand, 97–98 on population, 70, 275–277 Manchester, England, 421, 479, 500, 630 versus Birmingham model, 216–217 industrialists, 134, 166 industrialization of, 262, 300, 310, 341 influence on Marx, 216–217, 260 Manchester School, 152–153 Mandel, Ernest, 358–359, 441 Mandeville, Bernard, 271–272, 276 Mantel, Hilary Wolf Hall, 575 Mao, Zedong, 309, 315 Marcos, Imelda, 731 Marx, Groucho, 529 Marx, Karl, works The Civil War in France, 364, 365 Communist Manifesto, 8, 21–22, 89, 195, 326, 336, 365, 425, 457, 458, 588, 626, 627 Condition of the Working Class in England, 212 Contribution to the Critique of Political Economy, 200, 257 Critique of Hegel’s Philosophy of Right, 305 Economic and Philosophical Manuscripts of 1844, 117, 175, 335 Eighteenth Brumaire of Louis Napoleon, 140, 364, 365, 667 “For a Ruthless Criticism of Everything that Exists,” Grundrisse See main entry Grundrisse Theories of Surplus Value, 7, 68, 364, 367, 442 McCarthyism, 102 M-C-M circulation form, 87–88, 112 +M, 94 process, 77–78 surplus value derived from, 90 Means, Gardiner C., 549–550 means of production sector, 269 medical workforce, 281 Médici, Emilio Garrastazu, 211 Meidner, Rudolf, 252 Meidner Plan, 252, 587 Mellon, Andrew, 594 Mendes, Chico, 312 Menenius Agrippa fable, 187 mental (intellectual) labor, 188 merchants’ capital, 497–506 “Merrie England,” 297 metallic base of money, 83–84 method (Marx’s), 10, 191, 200 Methuselah, 734 Mexico, 222, 280, 282, 292, 321, 421, 437, 479, 624 Michaelmas, 76 micro-credit institutions, 274 Middle East, 324, 341 military labor, 143–144, 153, 321 Mill, John Stuart, 203, 214, 242, 263 miner’s strikes, 161, 287 Mini Coopers, 230 Mintz, Sidney Sweetness and Power, 741 miser See accumulation Modern Times (film), 146, 214 Moll Flanders (Defoe), 46 Mondragon model, 438, 442, 550, 588 Money (Zola), 569 money capital, 399–400, 521, 555–556 money-form (commodity) origin and process of, 32–37 social power of, 259, 296 and state power merger, 301 three peculiarities of, 38–39 velocity of, 70 Monopoly Capital (Baran and Sweezy), 333 Moore, Thomas, 575 “moral depreciation,” 468, 485–488, 489 “the moral economy” (Thompson), 296 More, Thomas, Morishima, Michio, 725 MST (Landless Workers’ Movement, Brazil), 312, 315 Mumbai, India, 421 Nandigram, West Bengal, 310, 312 Napoleon, Louis, 559 Napoleonic Wars, 566 National Bohemian, 634 National Labor Relations Board, 155 Nature’s Metropolis (Cronon), 634–635 Negri, Tony, 117, 328 neoliberalism, 360, 394, 411, 421, 429, 432, 438–439, 461–462, 473, 487, 501–505, 530, 571–574, 585 credit excess, 248 described, 286–288, 291–292 growth rate, 341–342 labor conditions, 161–162, 228, 285 in Mexico, 282, 292 primitive accumulation, 309–314 of Reagan/Thatcher, 155, 286–287, 321 social inequality levels, 172–173 and universities, 281 neo-Ricardians, 686 New Deal, 160, 330 New England, 421 Newgate Prison, 303 The New Imperialism (Harvey), 311–312 “New Leicester” breed of sheep, 273 Newton, Isaac, 84 New York City, 313, 340, 421, 452, 458, 459, 481, 482 New York State, 167 NGO reports, 285 Nicomachean Ethics (Aristotle), 38n1 Nike (company), 161, 501, 504 Nobel Prize in economics, 252, 670 noblesse oblige, 153 North America, 331, 341, 668 North Korea, 439 Norwich, England, 300 Obama administration, 403 Observer (newspaper), 287n1 Occupational Safety and Health Administration, 155 Oceania, 334, 341 O’Connor, Jim, 325 oil (Middle East), 324 Oliver Twist (Dickens), 93 Ollman, Bertell, 317 On the Origin of Species (Darwin), 191, 193 Opium Wars, 96, 227, 309 organic composition, 265–269, 510 Orshansky, Mollie, 108 Overstone, Lord, 527, 555, 556 Owen, Robert, 7–8, 231, 550 Oxford Street, 519 Palin, Sarah, 529 Panopticon, 151 Paris, 140, 154 Paris: Capital of Modernity (Harvey), 98–99, 128 Parliament (British), 152, 304 Path of Argument (diagram), 28 Paulson, Hank, 575 Pearl River Delta, 217 “pension-fund socialism,”, 587 Péreire brothers, 274, 559–560, 568, 578, 584, 586 Perelman, Michael, 295 Petty, William, 7, 30, 146 Phillips, Kevin, 403 Philosophy of Right (Hegel), 13 Physiocrats, 7, 463 Pinochet, Augusto, 321 Piore, Michael J The Second Industrial Divide, 588–589 Pittsburgh, Pennsylvania, 421, 634 Plato The Dialogues, 539 Poor Law, 147 population (surplus), 147–148, 275–280, 280–283, 479, 650 See also labor Portugal, 282, 567 Principles of Political Economy (Malthus), 95 private-equity funds (US), 312 privatization, 308–309, 311–312, 379, 581, 600 production about, 368 of space, 474–475 Production of Commodities by Means of Commodities (Sraffa), 724 production time, 623–625 productive capital, 404–412 profit commercial, 509–520 division of, 540–543 of enterprise, 543–550 profit-squeeze theory, 321–322, 338, 341 proletarianization, 435–436, 558, 582, 588, 701 current, 280–281, 286, 321 historical process of, 103, 295, 296–299 property law, 531, 554, 558, 582, 593, 599, 632, 647 of commodity production, 256–258 Lockean principle of, 121, 251, 256 private, 121, 203, 256, 298 Protestant Reformation, 572 Protestantism, 47, 81, 124, 335, 560, 584 Proudhon, Pierre-Joseph, 533, 539, 578, 589 Marx on, 50–51, 220 on rights/legality, 54 utopianism, 8, 47, 139 on women’s employment, 128 PT (Workers’ Party, Brazil), 315 Puerto Rican labor, 281–282 “pure state,” 362, 363 Quaker capitalists, 658 Quaker ideology, 260 Quesnay, Franỗois, 7, 679680, 681682, 723 “Radical Joe,” 157 Ramsay, George, 540–541, 695 rate of interest, 540–543 rational consumption, 247–248, 285, 286, 353, 719 ratios (capital/value), 132–134 Reading Capital Politically (Cleaver), 117 Reagan, Ronald, 286–287 Reform Act (1832), 152–153 reformism (bourgeois), 144 Règlement organique, 142 regulatory capture, 230 See also state relational definitions, historical relevance of, 476–480 Report of the Parliamentary Committee on the Bank Acts, 555 reproduction of capital, 248–255, 663–700 of daily life, 329, 635, 728, 742 expanded, 701–728 of social conditions, 254–255 Republic Windows and Doors, 440 Republican Party (US), 155, 432 reserve army See labor revolutions (1848), 154, 360, 365, 495, 497, 557, 559, 566, 589, 667, 737 Ricardo, David, 352, 367n4, 390, 463, 470, 489, 498, 643, 682 on foreign trade, 245 labor-time as value, 22 micro to macro theory, 242 on nonproductive consumers, 96 on profit decline, 267 quantity theory of money, 70 and Say’s law, 69 rights bourgeois conception, 258, 369, 539 commons, 311, 314 human rights politics, 51 liberal versus economic, 139–140, 158 property, 251 See also property law River Trent, 634 Robin Hood, 149 Robinson, Joan, 70 Robinson Crusoe (Defoe), 45–46 Roemer, John, 15 Roman Empire, 192 Romanticism, 117 Rome, Italy, 571, 572 Rostow, Walt, 477, 478 Rothschild family, 82, 560, 569 Rousseau, Jean-Jacques, Royal Mint, 84 Russell Sage Foundation, 263 Russia, 142, 193, 341, 624 Ryazanskaya, S W., 193n1 Sable, Charles F The Second Industrial Divide, 588–589 Saccard, 569 Saint-Simon, Henri de, 8, 273–274 Saint-Simonian utopianism, 559–560, 576, 584, 587 São Paulo, Brazil, 459 Say, J B., 7, 67, 91n3 Say’s law, 67–70, 73, 332, 335, 390 Say’s Law (Sowell), 67n1 Scandinavian states, 160 Schumpeter, Joseph, 461 Scotland, 297–298 Second Empire (France), 154, 222, 274, 569, 584 second nature See infrastructure The Second Industrial Divide (Piore and Sable), 588–589 Selected Correspondence (Ryazanskaya, ed.), 193n1 Senior, Nassau W., 134–135, 152, 258 Seoul, Korea, 313 serfdom, 425, 436, 737 serfs (Russian), 142 Sheffield, England, 421, 630 Shenzhen, China, 310 Silicon Valley, 217 silver, 96, 309, 391, 452, 561–562, 565, 568, 570, 595, 652, 655, 698 simple reproduction, 683–700 Singapore, 505 Sismondi, Jean Charles Léonard de, 7, 70 “six conceptual elements” (Marx), 194–198 slavery See labor slave trade, 147, 152, 299, 300–301 Slim, Carlos, 292 Smith, Adam on division of labor, 184, 442 on functioning (hidden hand) market, 44, 54, 287, 291, 292, 738 on joint-stock companies, 585 on Mandeville, 271–272 Marx on, 7, 181, 188–189, 192, 375–376, 401, 442, 464–465, 682–683 on Quesnay, 682–683 on role of state, 295 on total social product, 694, 696 Wakefield theory and, 303–304 on working class origins, 293–294 Smith, Neil, 194 social anarchism (Kropotkin), 193 social capital, 263–264, 414, 419, 420, 674–676 application of, 584–585 circulation of, 683, 686 components of, 472, 506 product of total, 695 Social Darwinism, 199 socialization See proletarianization Social Security (US), 314, 330 social workers, 263, 285, 383, 719 Soros, George, 85 South America, 331 South Korea, 195, 217, 228, 313, 505 Soviet Union, 187, 262, 708 Sowell, Thomas, 67n1 Spaces of Capital (Harvey), 97 Spaces of Global Capitalism (Harvey), 40n3 space-time relationship, 39–40, 181, 184, 208, 328, 340 Spain, 438, 567, 590, 602, 621, 741 special economic zones, 310, 313 species-being, 114, 175 Spinoza, Benedict de, Sraffa, Piero, 680, 681, 686 Production of Commodities by Means of Commodities, 724 stagflation, 334, 341, 379 stagnant population, 280, 281, 320 stagnation, 486 state in 1930s, 341–342 antitrust legislation, 288 in Asia, 286 as centralizing means of credit, 336 classical political economists on, 295 colonial systems, 300–302, 502 education, 233–235, 281, 314 and energy politics, 324 Factory Acts, 142–144, 233–234 Federal Reserve, 81, 83, 428, 527, 565, 575 immigration policies, 281–283, 321 infrastructure funding, 319, 323, 477–481, 488, 583, 600, 648–649 and labor-power, 167–168, 370, 387, 450 military labor, 143–144 monetary system management, 60, 71–72, 83, 88, 338, 565, 597 New Deal, 161 proletarianization support, 286, 297 regulatory apparatus, 102, 230, 295, 298–299, 321, 598 statistics collection, 84–85 steam engine, 204, 466, 619 Steuart, James, 7, 295 Stowe, Harriet Beecher, 298 subprime mortgage crisis, 343 suburban lifestyle, 286, 329, 384, 474, 667 supply and demand, 540–543, 590, 614, 642, 646–647, 651, 655 commodity-exchange ratios, 25–26, 185, 536–537 equilibrium with, 427–429, 432–433, 523–524, 712, 718 law of, 170, 279, 304, 371, 375–379 limitation of, 61, 168–169, 243 workers’ interest and, 279, 287–288, 537 surplus population, 280–283, 479, 650 See also labor surplus value, 351–385 and abstinence, 259–260, 259–260, 584, 657–658 circulation of, 652–661 legal cover for, 257–258, 533–535 surplus absorption problem, 224–226, 412, 428, 478, 635 transformation of, 255–264, 398, 411, 685 Sutcliffe, Bob, 322 Sutherland, Duchess of, 297–298 Sweden, 252, 282 Sweetness and Power (Mintz), 741 Sweezy, Paul M., 333–334 tableau économique, 679, 680 Taylorism, 173 Tea Party, 440 technology, 387, 423, 456–458, 615, 677, 725 communication and transport, 184 cotton, 323 and deindustrialization, 277 fetishism, 171 history of, 191–192 innovation, 213, 280, 322–323 internalization of, 195 as labor discipline, 221–222 technical composition, 265–266 Theories of Surplus Value (Marx), 364, 367, 442 tools versus machines, 203–204 Ten Hours’ Act, 155 Thatcher, Margaret, 22–23, 155, 286–287, 300, 321 Theories of Surplus Value (Marx), 7, 68 Third Italy, 217 Third Italy of Emilia-Romagna, 589 Thompson, E P., 296 Thompson, William An Inquiry into the Principles of the Distribution of Wealth, 654 time appropriation, 201, 736 social determination, 149–150 space-time relationship, 39–40, 181, 184, 208, 328, 340, 457, 606, 631–632, 738 time-and-motion studies, 173, 628 Tooke, Thomas, 589 Tories (England), 154 Tower Hamlets, 503–504 town-country dialectic, 183–184, 189 trade unions, 376, 421, 659 air traffic controllers, 286–287 anti-union think tanks, 252 in Asia, 228 and Combination Laws, 298 greenfield sites and, 300 and immigration legislation, 282 as “infringement,” 279 as political force, 140, 320 as stabilizing for capitalism, 160, 330 in Sweden (Meidner Plan), 252 Thatcher and, 287, 300 and wages, 172, 215–216, 278 transportation, 456–458 Trigg, Andrew, 673 Tristan, Flora, Tronti, Mario, 328 Turgot, A R J., Turin, Italy, 421 Turkey, 282 UN (United Nations), 51, 285 Uncle Tom’s Cabin (Stowe), 298 underclass, 280, 281, 320 underconsumption, 329–330, 338, 690, 718 unemployment, 376, 566, 665, 736 job insecurity as discipline, 221–222 management of (floating reserves), 282–283 as product of accumulation, 276 Uneven Development (Smith), 194 unions See trade unions United Airlines (company), 311 United Farm Workers, 145 United Nations (UN), 51, 285 United States after 9/11, 340 after World War II, 329, 659 agribusiness, 313, 337, 437 corporations and regulations, 230, 438, 473, 550, 578, 671 credit supply (debt), 336–337 family farms destruction, 280 foreclosures, 314, 337, 506, 564, 714 greenfield sites, 230, 300, 500 immigration laws, 282 income scale, 172–173, 291–292 industrial capital, origins, 299, 334, 400 labor scarcity, 210, 215, 418 and Mexican labor, 222, 421, 437, 624 and Middle East oil, 324 military labor, 143 New Deal, 160 political and labor traditions, 157–158, 361, 383, 682 private equity funds, 312 Puerto Rican labor in, 281–282 Republican Party, 155, 432 slavery, 158, 223, 299, 300 Social Security, 314, 330, 591 in Vietnam, 341 Volcker shock, 286 wages (since 1970s), 166, 210–211, 280, 283, 300, 354 Universal Declaration of Human Rights, 51 universities, 281, 314 Ure, Andrew, 216, 548 US Treasury, 565, 575 utopian socialism, 7–8, 375 value diagram, 25 labor-power versus labor theory of, 137, 459, 489, 682 value composition, 265–269, 475–476, 538, 663, 715, 720, 725 value theory, fixed capital and, 488–491 vampire metaphor, 138, 158 Vatican, 74, 107 Vaucanson, Jacques de, 206 Venice, Italy, 500, 574, 576, 636 Vico, Giambattista, 192 Vietnam, 161, 285, 341 Volcker shock, 286 wages, 354–379 in Britain, 672 in China, 106, 107, 250 of commercial laborers, 514 converted into means of subsistence, 428 to facilitate consumption, 404 fluctuation of, 277–278 of future labor, 406 labor-power and, 393, 531, 537, 541, 547–550, 582, 675, 684–696, 713–714, 719 individual versus family, 210–211 national differences, 244 replacement of, 457 as representation, 242–245 repression of, 667 turnover, 619, 647–651, 659, 661 and unions, 172, 215–216 in US since 1970s, 210–211, 280, 283, 300 Wakefield, Edward Gibbon, 303–304 Walkley, Mary Anne, 145 Wall Street, 495, 522, 562, 564, 570 and Asian crisis (1997–8), 82, 337 and foreclosures, 314–315 predatory tactics, 310–311 Wall Street Journal (newspaper), 343 Walmart (company), 444, 452, 453, 501, 504 and China imports, 166–167 impact on labor-power, 107 organizational form, 173, 186 sweatshop clothing, 162 Washington, DC, 458 Washington Consensus, 739 Watt, James, 204, 206 Weber, Max, Weberian myth, 584 Wedgwood, Josiah, 193 West Bengal, 310 West Germany, 215–216, 739 West Indies, 300, 740 Wikipedia, 530 William of Orange, 297 Wilson, Harold, 577 Wilson, William Julius, 281 Wilson, Woodrow, 102 Wolf Hall (Mantel), 575 women, 128, 280, 351, 479 Workers’ Party (PT) (Brazil), 315 working conditions, 161–162, 281–282, 304, 481, 647 See also labor working period, 618–623 World Bank, 161, 274 The World Is Flat (Friedman), 194n3 “The World Is Round” (Gray), 195n4 World Social Forum, 315 World War II, 143, 329 Yangtze River, 309 young Hegelians, Yugoslavia, 282 Zapatistas, 312 Zola, Émile, 570 l’Assomoire, 504 Money, 569 .. .A Companion to Marx’s Capital A Companion to Marx’s Capital The Complete Edition David Harvey This complete edition published by Verso 2018 © David Harvey 2018 A Companion to Marx’s Capital, ... philosophical or abstractly theoretical, concerns; my approach has always been to ask what Capital can reveal to us about how daily life is lived in the grand cities that capitalism has produced Over the. .. pages of rather cryptic assertions to lay out the fundamental concepts and move the argument from use-value to exchange-value to human labor in the abstract, and ultimately to value as congealed