Take the example of our spinner. We have seen that, to daily reproduce his labouring power, he must daily reproduce a value of three shillings, which he will do by working six hours daily. But this does not disable him from working ten or twelve or more hours a day. But by paying the daily or weekly value of the spinner's labouring power the capitalist has acquired the right of using that labouring power during the whole day or week. He will, therefore, make him work say, daily, twelve hours. Over and above the six hours required to replace his wages, or the value of his labouring power, he will, therefore, have to work six other hours, which I shall call hours of surplus labour, which surplus labour will realize itself in a surplus value and a surplus produce. If our spinner, for example, by his daily labour of six hours, added three shillings' value to the cotton, a value forming an exact equivalent to his wages, he will, in twelce hours, add six shillings' worth to the cotton, and produce a proportional surplus of yarn. As he has sold his labouring power to the capitalist, the whole value of produce created by him belongs to the capitalist, the owner pro tem. of his labouring power. By advancing three shillings, the capitalist will, therefore, realize a value of six shillings, because, advancing a value in which six hours of labour are crystallized. By repeating this same process daily, the capitalist will daily advance three shillings and daily pocket six shillings, one half of which will go to pay wages anew, and the other half of which will form surplus value, for which the capitalist pays no equivalent. It is this sort of exchange between capital and labour upon which capitalistic production, or the wages system, is founded, and which must constantly result in reproducing the working man as a working man, and the capitalist as a capitalist.

"The evil of the present system is therefore not that the "surplus-value" of production goes to the capitalist, as Rodbertus and Marx said, thus narrowing the Socialist conception and the general view of the capitalist system; the surplus-value itself is but a consequence of deeper causes. The evil lies in the possibility of a surplus-value existing, instead of a simple surplus not consumed by each generation; for, that a surplus-value should exist, means that men, women and children are compelled by hunger to sell their labour for a small part of what this labour produces, and still more so, of what their labour is capable of producing: But this evil will last as long as the instruments of production belong to the few. As"

The virtue of capitalism is that society can take advantage of people’s greed rather than their benevolence, but there is no need to, in addition, extol such greed as a moral (or intellectual) accomplishment (the reader can easily see that, aside from very few exceptions like George Soros, I am not impressed by people with money).

within the capitalist system all methods for raising the social productiveness of labour are brought about at the cost of the individual labourer; all means for the development of production transform themselves into means of domination over, and exploitation of, the producers; they mutilate the labourer into a fragment of a man, degrade him to the level of an appendage of a machine, destroy every remnant of charm in his work and turn it into a hated toil; they estrange from him the intellectual potentialities of the labour process in the same proportion as science is incorporated in it as an independent power; they distort the conditions under which he works, subject him during the labour process to a despotism the more hateful for its meanness; they transform his life-time into working-time, and drag his wife and child beneath the wheels of the Juggernaut of capital. But all methods for the production of surplus-value are at the same time methods of accumulation; and every extension of accumulation becomes again a means for the development of those methods. It follows therefore that in proportion as capital accumulates, the lot of the labourer, be his payment high or low, must grow worse. The law, finally, that always equilibrates the relative surplus population, or industrial reserve army, to the extent and energy of accumulation, this law rivets the labourer to capital more firmly than the wedges of Vulcan did Prometheus to the rock. It establishes an accumulation of misery, corresponding with accumulation of capital. Accumulation of wealth at one pole is, therefore, at the same time accumulation of misery, agony of toil slavery, ignorance, brutality, mental degradation, at the opposite pole, i.e., on the side of the class that produces its own product in the form of capital.

One of the most expensive commodities a nation can have is a cheap labor force. From this a host of consequences leaped forth as inevitable. — If you get labor for almost nothing, you have no incentive to buy expensive tools and the quality of your product will lag behind that of nations who do use the best tools on the market. — If you keep your labor occupied on menial tasks that are best suited to machines, your work force never develops those skills that would earn you more income. — If you employ ten to do the work of one, none of the ten will work to maximum efficiency because each will realize that what he or she does isn’t significant. — If you don’t pay your labor good wages, how can they ever afford to buy what you make? You limit your potential market by 50 percent at least, and if every employer in the region pays the same low wages, your market can vanish altogether. — A nation’s wealth is generated when the money from wages is quickly spread around because this causes more goods to be produced, and real wealth consists in the making and interchange of goods.
And then I made the discovery: ‘Ricardo was wrong. There is no fixed quantum of money in the world, or in any nation. The rich man doesn’t suffer deprivation when labor gets a bigger share, for that larger amount means a bigger total for him.’” — Chapter VII, “Ideas”, page 257-258

The most prominent characteristic of capitalism is the wage system, which in brief amounts to this: — A man, or a group of men, possessing the necessary capital, starts some industrial enterprise; he undertakes to supply the factory or workshops with raw material, to organize production, to pay the employés a fixed wage, and lastly, to pocket the surplus value or profits, under pretext of recouping himself for managing the concern, for running the risks it may involve, and for the fluctuations of price in the market value of the wares.

"Poverty, we have said elsewhere, was the primary cause of wealth. It was poverty that created the first capitalist; because, before accumulating "surplus value," of which we hear so much, men had to be sufficiently destitute to consent to sell their labour, so as not to die of hunger. It was poverty that made capitalists."

There is one good thing about Marx: he was not a Keynesian

In reality, the laborer belongs to capital before he has sold himself to capital. His economic bondage is both brought about and concealed by the periodic sale of himself, by his change of masters, and by the oscillation in the market price of labor power. Capitalist production, therefore, under its aspect of a continuous connected process, of a process of reproduction, produces not only commodities, not only surplus value, but it also produces and reproduces the capitalist relation; on the one side the capitalist, on the other the wage-laborer.

The progressive tendency of the general rate of profit to fall is, therefore, just an expression peculiar to the capitalist mode of production of the progressive development of the social productivity of labour. This does not mean to say that the rate of profit may not fall temporarily for other reasons. But proceeding from the nature of the capitalist mode of production, it is thereby proved a logical necessity that in its development the general average rate of surplus-value must express itself in a falling general rate of profit. Since the mass of the employed living labour is continually on the decline as compared to the mass of materialised labour set in motion by it, i.e., to the productively consumed means of production, it follows that the portion of living labour, unpaid and congealed in surplus-value, must also be continually on the decrease compared to the amount of value represented by the invested total capital. Since the ratio of the mass of surplus-value to the value of the invested total capital forms the rate of profit, this rate must constantly fall.

The whole thing boiled down to a simple equation: anything that has any kind of value is made, mined, grown, produced, and processed by working people. So why shouldn’t working people collectively own that wealth? Why shouldn’t working people own and control their own resources? Capitalism meant that rich businessmen owned the wealth, while socialism meant that the people who made the wealth owned it.

The tactical situation seems simple enough. Thanks to Marx’s prophecy, the Communists knew for certain that misery must soon increase. They also knew that the party could not win the confidence of the workers without fighting for them, and with them, for an improvement of their lot. These two fundamental assumptions clearly determined the principles of their general tactics. Make the workers demand their share, back them up in every particular episode in their unceasing fight for bread and shelter. Fight with them tenaciously for the fulfilment of their practical demands, whether economic or political. Thus you will win their confidence. At the same time, the workers will learn that it is impossible for them to better their lot by these petty fights, and that nothing short of a wholesale revolution can bring about an improvement. For all these petty fights are bound to be unsuccessful; we know from Marx that the capitalists simply cannot continue to compromise and that, ultimately, misery must increase. Accordingly, the only result — but a valuable one — of the workers’ daily fight against their oppressors is an increase in their class consciousness; it is that feeling of unity which can be won only in battle, together with a desperate knowledge that only revolution can help them in their misery. When this stage is reached, then the hour has struck for the final show-down. This is the theory and the Communists acted accordingly. At first they support the workers in their fight to improve their lot. But, contrary to all expectations and prophecies, the fight is successful. The demands are granted. Obviously, the reason is that they had been too modest. Therefore one must demand more. But the demands are granted again44. And as misery decreases, the workers become less embittered, more ready to bargain for wages than to plot for revolution. Now the Communists find that their policy must be reversed. Something must be done to bring the law of increasing misery into ope

In a time in which Communist regimes have been rightfully discredited and yet alternatives to neoliberal capitalist societies are unwisely dismissed, I defend the fundamental claim of Marxist theory: there must be countervailing forces that defend people's needs against the brutality of profit driven capitalism.

In a modern capitalist society, what is moral is often determined by what has economic value.16