Tag: surplus value

A capital question: How did Marx identify accumulation of capital?

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Paul Zarembka argues that a more holistic definition of capital accumulation invites a better understanding of the social conditions by which people are transformed and made exploitable under capitalism.

‘Accumulation of capital’ is a ubiquitous concept in political economy and central to Marxist theory. Classical economists before Marx defined the concept as gathering ever-greater means of production – ie tools, machinery, buildings, and raw materials. Marxist theorists commonly accept a classical understanding and fail to exploit the essence of Marx’s own concept. Paul Zarembka, Research Professor of Economics at […]

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