Das Kapital

Definition

Das Kapital is a foundational text in Marxist economics, written by Karl Marx, which critiques political economy and capitalism. It explores the nature of capital, its role in production, and the exploitation of labor, arguing that capitalism inherently leads to class struggles and economic inequalities.

5 Must Know Facts For Your Next Test

1. Das Kapital was published in three volumes, with the first volume released in 1867, and subsequent volumes published posthumously by Friedrich Engels.
2. Marx argues that the value of a commodity is determined by the amount of socially necessary labor time required for its production.
3. The book introduces key concepts such as surplus value, which explains how capitalists profit from paying workers less than the value they produce.
4. Marx's critique highlights the contradictions within capitalism, particularly how it leads to cycles of boom and bust, exacerbating social inequalities.
5. Das Kapital significantly influenced labor movements and socialist ideologies across Europe, impacting political thought and policy well into the 20th century.

Review Questions

• How does Das Kapital explain the relationship between labor and capital in a capitalist system?
  • Das Kapital explains that labor is the source of value in a capitalist system. Marx argues that workers produce more value than they receive in wages, creating surplus value, which is appropriated by capitalists. This dynamic leads to exploitation, as workers are compelled to work longer hours for less pay, ultimately resulting in class conflict between the proletariat and bourgeoisie.
• Discuss how Das Kapital critiques the notion of free-market capitalism and its impact on society.
  • Das Kapital critiques free-market capitalism by highlighting its inherent inequalities and exploitative nature. Marx contends that capitalism is built on the subjugation of workers, whose labor is commodified. The constant pursuit of profit leads to economic crises and social instability, ultimately revealing the unsustainable nature of capitalism as it prioritizes profit over human welfare.
• Evaluate the long-term effects of Das Kapital on 19th-century political movements and economic theories.
  • Das Kapital had profound long-term effects on 19th-century political movements and economic theories by providing a theoretical framework for socialism and communism. It inspired labor movements advocating for workers' rights and social reforms, shaping policies that aimed to reduce economic inequalities. The text also influenced various political ideologies that emerged in response to industrialization, emphasizing class struggle and the need for systemic change in addressing societal issues.

Related terms

Capitalism:

An economic system where private individuals own and control property and businesses, aiming to generate profit.

Proletariat:

The working class in Marxist theory, who sell their labor to the bourgeoisie and are seen as the victims of capitalist exploitation.

Bourgeoisie:

The capitalist class who own the means of production and are considered the ruling class in a capitalist society.