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@@ -205,9 +205,9 @@ Up to the present, industry has been in a state of war, a war of conquest:
> “We are convinced ... as are the commissioners charged with the inquiry into the condition of the hand-loom weavers, that the large industrial towns would in a short time lose their population of workers if they were not all the time receiving from the neighbouring rural areas constant recruitments of healthy men, a constant flow of fresh blood.” (*op. cit.*, p. 362.)
-## Profit of Capital
+### Profit of Capital
-### 1. Capital
+#### 1. Capital
*||I, 2|* What is the basis of *capital*, that is, of private property in the products of other men's labour?
@@ -233,7 +233,7 @@ Capital is *stored-up labour*.
> (2) *Fonds*, or stock, is any accumulation of products of the soil or of manufacture. Stock is called *capital* only when it yields to its owner a revenue or profit. (Adam Smith, *op. cit.*, p. 243)
-### 2. The Profit of Capital
+#### 2. The Profit of Capital
> The *profit* or *gain of capital* is altogether different from the *wages of labour*. This difference is manifested in two ways: in the first place, the profits of capital are regulated altogether by the value of the capital employed, although the labour of inspection and direction associated with different capitals may be the same. Moreover in large works the whole of this labour is committed to some principal clerk, whose salary bears no regular proportion to the *||II, 2|* capital of which he oversees the management. And although the labour of the proprietor is here reduced almost to nothing, he still demands profits in proportion to his capital. (Adam Smith, [op. cit., Vol. I, p. 43](https://marxists.org/reference/archive/smith-adam/works/wealth-of-nations/book01/ch06.htm)) [^capital11]
@@ -281,7 +281,7 @@ The ordinary profit of stock, though it rises with the risk, does not always see
It goes without saying that profits also rise if the means of circulation become less expensive or easier available (e.g., paper money).
-### 3. The Rule of Capital over Labour and the Motives of the Capitalist
+#### 3. The Rule of Capital over Labour and the Motives of the Capitalist
> The consideration of his own private profit is the sole motive which determines the owner of any capital to employ it either in agriculture, in manufactures, or in some particular branch of the wholesale or retail trade. The different quantities of *productive labour* which it may put into motion, *||V, 2|* and the different values which it may add to the annual produce of the land and labour of his country, according as it is employed in one or other of those different ways, never enter into his thoughts. (Adam Smith, [op. cit., Vol. I, p. 335](https://marxists.org/reference/archive/smith-adam/works/wealth-of-nations/book02/ch05.htm).)
@@ -289,7 +289,7 @@ The most useful employment of capital for the capitalist is that which, risks be
The plans and speculations of the employers of capitals regulate and direct all the most important operations of labour, and *profit* is the end proposed by all those plans and projects. But the rate of profit does not, like rent and wages, rise with the prosperity and fall with the decline of the society. On the contrary, it is naturally low in rich and high in poor countries, and it is always highest in the countries which are going fastest to ruin. The interest of this class, therefore, has not the same connection with the general interest of the society as that of the other two.... The particular interest of the dealers in any particular branch of trade or manufactures is always in some respects different from, and frequently even in sharp opposition to, that of the public. To widen the market and to narrow the sellers' competition is always the interest of the dealer.... This is a class of people whose interest is never exactly the same as that of society, a class of people who have generally an interest to deceive and to oppress the public. (Adam Smith, [op. cit., Vol. I, pp. 231-32](https://marxists.org/reference/archive/smith-adam/works/wealth-of-nations/book01/ch11c-3.htm))
-### 4. The Accumulation of Capitals and the Competition among the Capitalists
+#### 4. The Accumulation of Capitals and the Competition among the Capitalists
> The *increase of stock,* which raises wages, tends to lower the capitalists' profit, because of the competition amongst the capitalists. (Adam Smith, [op. cit., Vol. I, p. 78](https://marxists.org/reference/archive/smith-adam/works/wealth-of-nations/book01/ch09.htm).)
@@ -385,7 +385,7 @@ Indifference towards men. Smith's twenty lottery-tickets. [^capital14]
Say's net and gross revenue. *|XVI||*
-## Rent of Land
+### Rent of Land
> *||I, 3|* *Landlords’ right* has its origin in robbery. (Say, t. 1, p. 136, footnote.) The landlords, like all other men, love to reap where they never sowed, and demand a rent even for the natural produce of the earth. (Adam Smith, *op. cit.*, Vol. I, p. 44.)
@@ -542,7 +542,7 @@ Large landed property, as we see in England, has already cast off its feudal cha
Landed property had to develop in each of these two ways so as to experience in both its necessary downfall, just as industry both in the form of monopoly and in that of competition had to ruin itself so as to learn to believe in man. *|XXI||*
-## Estranged Labour
+### Estranged Labour
*||XXII|* We have proceeded from the premises of political economy. We have accepted its language and its laws. We presupposed private property, the separation of labor, capital and land, and of wages, profit of capital and rent of land – likewise division of labor, competition, the concept of exchange value, etc. On the basis of political economy itself, in its own words, we have shown that the worker sinks to the level of a commodity and becomes indeed the most wretched of commodities; that the wretchedness of the worker is in inverse proportion to the power and magnitude of his production; that the necessary result of competition is the accumulation of capital in a few hands, and thus the restoration of monopoly in a more terrible form; and that finally the distinction between capitalist and land rentier, like that between the tiller of the soil and the factory worker, disappears and that the whole of society must fall apart into the two classes – *property owners* and propertyless *workers*.
@@ -695,6 +695,57 @@ Let us look more closely at these three relations. *|XXVII||*
*[First Manuscript breaks off here.]*
+## Second Manuscript
+
+### Antithesis of Capital and Labour. Landed Property and Capital
+
+... forms the interest on his capital. The worker is the subjective manifestation of the fact that capital is man wholly lost to himself, just as capital is the objective manifestation of the fact that labour is man lost to himself. But the *worker* has the misfortune to be a *living* capital, and therefore an *indigent* capital, one which loses its interest, and hence its livelihood, every moment it is not working. The *value* of the worker as capital rises according to demand and supply, and *physically* too his *existence*, his *life*, was and is looked upon as a supply of a *commodity* like any other. The worker produces capital, capital produces him – hence he produces himself, and man as *worker*, as a *commodity*, is the product of this entire cycle. To the man who is nothing more than a *worker* – and to him as a worker – his human qualities only exist insofar as they exist for capital *alien* to him. Because man and capital are alien, foreign to each other, however, and thus stand in an indifferent, external and accidental relationship to each other, it is inevitable that this foreignness should also appear as something *real*. As soon, therefore, as it occurs to capital (whether from necessity or caprice) no longer to be for the worker, he himself is no longer for himself: he has no work, hence no wages, and since he has no *existence as a human being* but only *as a worker*, he can go and bury himself, starve to death, etc. The worker exists as a worker only when he exists *for himself* as capital; and he exists as capital only when some *capital* exists *for him*. The existence of capital is *his* existence, his *life*; as it determines the tenor of his life in a manner indifferent to him.
+
+Political economy, therefore, does not recognise the unemployed worker, the workingman, insofar as he happens to be outside this labour relationship. The rascal, swindler, beggar, the unemployed, the starving, wretched and criminal workingman – these are *figures* who do not exist for *political economy* but only for other eyes, those of the doctor, the judge, the grave-digger, and bum-bailiff, etc.; such figures are spectres outside its domain. For it, therefore, the worker's needs are but the one *need* – to maintain *him whilst he is working* and insofar as may be necessary to prevent the *race of labourers* from [dying] out. The wages of labour have thus exactly the same significance as the *maintenance* and *servicing* of any other productive instrument, or as the *consumption of capital* in general, required for its reproduction with interest, like the oil which is applied to wheels to keep them turning. Wages, therefore, belong to capital's and the capitalist's necessary *costs*, and must not exceed the bounds of this necessity. It was therefore quite logical for the English factory owners, before the Amendment Bill of 1834 to deduct from the wages of the worker the public charity which he was receiving out of the Poor Rate and to consider this to be an integral part of wages. [^second24]
+
+Production does not simply produce man as a *commodity*, the *human commodity*, man in the role of *commodity*; it produces him in keeping with this role as a *mentally* and physically dehumanised being. – Immorality, deformity, and dulling of the workers and the capitalists. – Its product is *the self-conscious and self-acting commodity* ... the *human* commodity.... Great advance of Ricardo, Mill, etc., on Smith and Say, to declare the *existence* of the human being – the greater or lesser human productivity of the commodity – to be *indifferent* and even *harmful*. Not how many workers are maintained by a given capital, but rather how much interest it brings in, the sum-total of the annual *savings*, is said to be the true purpose of production.
+
+It was likewise a great and consistent advance of modern English political economy, that, whilst elevating *labour* to the position of its *sole* principle, it should at the same time expound with complete clarity the *inverse* relation between wages and interest on capital, and the fact that the capitalist could normally *only* gain by pressing down wages, and vice versa. Not the defrauding of the consumer, but the capitalist and the worker taking advantage of each other, is shown to be the *normal* relationship.
+
+The relations of private property contain latent within them the relation of private property as *labour*, the relation of private property as *capital*, and the *mutual relation* of these two to one another. There is the production of human activity as *labour* – that is, as an activity quite alien to itself, to man and to nature, and therefore to consciousness and the expression of life – the *abstract* existence of man as a mere *workman* who may therefore daily fall from his filled void into the absolute void – into his social, and therefore actual, non-existence. On the other hand, there is the production of the object of human activity as *capital* – in which all the natural and social characteristic of the object is *extinguished*; in which private property has lost its natural and social quality (and therefore every political and social illusion, and is not associated with any *apparently* human relations); in which the *selfsame* capital remains the *same* in the most diverse natural and social manifestations, totally indifferent to its *real* content. This contradiction, driven to the limit, is of necessity the limit, the culmination, and the downfall of the whole private-property relationship.
+
+It is therefore another great achievement of modern English political economy to have declared rent of land to be the difference in the interest yielded by the worst and the best land under cultivation; to have [exposed] the landowner's romantic illusions – his alleged social importance and the identity of his interest with the interest of society, a view still maintained by *Adam Smith* after the Physiocrats; and to [have] anticipated and prepared the movement of the real world which will transform the landowner into an ordinary, prosaic capitalist, and thus simplify and sharpen the contradiction [between capital and labour] and. hasten its resolution. *Land* as *land*, and *rent* as *rent*, have lost their *distinction of rank* and become insignificant *capital* and *interest* – or rather, *capital* and *interest* that signify only money.
+
+The *distinction* between capital and land, between profit and rent, and between both and wages, and *industry*, and *agriculture*, and *immovable* and *movable* private property – this distinction is not rooted in the nature of things, but is a *historical* distinction, a *fixed* historical moment in the formation and development of the contradiction between capital and labour. In industry, etc., as opposed to immovable landed property, is only expressed the way in which [industry] came into being and the contradiction to agriculture in which industry developed. This distinction only continues to exist as a *special* sort of work – as an *essential*, *important* and *life-embracing* distinction – so long as industry (town life) develops *over* and *against* landed property (aristocratic feudal life) and itself continues to bear the feudal character of its opposite in the form of monopoly, craft, guild, corporation, etc., within which labour still has a *seemingly social* significance, still the significance of the *real* community, and has not yet reached the stage of *indifference* to its content, of complete being-for-self[^second25], i. e., of abstraction from all other being, and hence has not yet become *liberated* capital.
+
+But liberated *industry*, industry constituted for itself as such, and *liberated capital*, are the necessary *development* of labour. The power of industry over its opposite is at once revealed in the emergence of *agriculture* as a real industry, while previously it left most of the work to the soil and to the slave of the soil, through whom the land cultivated itself. With the transformation of the slave into a *free* worker – i.e., into a *hireling* – the landlord himself is transformed into a captain of industry, into a capitalist – a transformation which takes place at first through the intermediacy of the *tenant farmer*. *The tenant farmer*, however, is the landowner's representative – the landowner's revealed *secret:* it is only through him that the landowner has his *economic* existence – his existence as a private proprietor – for the rent of his land only exists due to the competition between the farmers.
+
+Thus, in the person of the *tenant farmer* the landlord *has* already become in essence a *common* capitalist. And this must come to pass, too, in actual fact: the capitalist engaged in agriculture – the tenant – must become a landlord, or vice versa. The tenant's *industrial hucksterism* is the *landowner's* industrial hucksterism, for the being of the former postulates the being of the latter.
+
+But mindful of their contrasting origin, of their line of descent, the landowner knows the capitalist as his insolent, liberated, enriched slave of yesterday and sees himself as a *capitalist* who is threatened by him. The capitalist knows the landowner as the idle, cruel, egotistical master of yesterday; he knows that he injures him as a capitalist, but that it is to industry that he owes all his present social significance, his possessions and his pleasures; he sees in him a contradiction to *free* industry and to *free* capital – to capital independent of every natural limitation. This contradiction is extremely bitter, and each side tells the truth about the other. One need only read the attacks of immovable on movable property and vice versa to obtain a clear picture of their respective worthlessness. The landowner lays stress on the noble lineage of his property, on feudal souvenirs or reminiscences, the poetry of recollection, on his romantic disposition, on his political importance, etc.; and when he talks economics, it is *only* agriculture that he holds to be productive. At the same time he depicts his adversary as a sly, hawking, carping, deceitful, greedy, mercenary, rebellious, heartless and spiritless person who is estranged from the community and freely trades it away, who breeds, nourishes and cherishes competition, and with it pauperism, crime, and the dissolution of all social bonds, an extorting, pimping, servile, smooth, flattering, fleecing, dried-up rogue without honour, principles, poetry, substance, or anything else. (Amongst others see the Physiocrat *Bergasse*, whom Camille Desmoulins flays in his journal, *Révolutions de France et de Brabant* [^second26]; see von Vincke, Lancizolle, Haller, Leo, Kosegarten and also *Sismondi*.)
+
+[See on the other hand the garrulous, old-Hegelian theologian Funke who tells, after Herr Leo, with tears in his eyes how a slave had refused, when serfdom was abolished, to cease being the *property of the gentry* [^second27]. See also the patriotic visions *of* *Justus Möser*, which distinguish themselves by the fact that they never for a moment ... abandon the respectable, petty-bourgeois "*home-baked*", *ordinary*, narrow horizon of the philistine, and which nevertheless remain pure fancy. This contradiction has given them such an appeal to the German heart.- *Note* by Marx.]
+
+Movable property, for its part, points to the miracles of industry and progress. It is the child of modern times, whose legitimate, native-born son it is. It pities its adversary as a simpleton, *unenlightened* about his own nature (and in this it is completely right), who wants to replace moral capital and free labour by brute, immoral violence and serfdom. It depicts him as a Don Quixote, who under the guise of *bluntness*, *respectability,* the *general interest*, and *stability*, conceals incapacity for progress, greedy self-indulgence, selfishness, sectional interest, and evil intent. It declares him an artful *monopolist*; it pours cold water on his reminiscences, his poetry, and his romanticism by a historical and sarcastic enumeration of the baseness, cruelty, degradation, prostitution, infamy, anarchy and rebellion, of which romantic castles were the workshops.
+
+It claims to have obtained political freedom for everybody; to have loosed the chains which fettered civil society; to have linked together different worlds; to have created trade promoting friendship between the peoples; to have created pure morality and a pleasant culture; to have given the people civilised needs in place of their crude wants, and the means of satisfying them. Meanwhile, it claims, the landowner – this idle, parasitic grain-profiteer – raises the price of the people's basic necessities and so forces the capitalist to raise wages without being able to increase productivity, thus impeding [the growth of] the nation's annual income, the accumulation of capital, and therefore the possibility of providing work for the people and wealth for the country, eventually cancelling it, thus producing a general decline – whilst he parasitically exploits every advantage of modern civilisation without doing the least thing for it, and without even abating in the slightest his feudal prejudices. Finally, let him – for whom the cultivation of the land and the land itself exist only as a source of money, which comes to him as a present - let him just take a look at his tenant farmer and say whether he himself is not a *downright, fantastic, sly* scoundrel who in his heart and in actual fact has for a long time belonged to *free* industry and to *lovely* trade, however much he may protest and prattle about historical memories and ethical or political goals. Everything which he can really advance to justify himself is true only of the *cultivator of the land* (the capitalist and the labourers), of whom the *landowner* is rather the *enemy*. Thus he gives evidence against himself. [Movable property claims that] *without* capital landed property is dead, worthless matter; that its civilised victory has discovered and made human labour the source of wealth in place of the dead thing. (See Paul Louis Courier, Saint-Simon, Ganilh, Ricardo, Mill, McCulloch and Destutt de Tracy and Michel Chevalier.)
+
+The *real* course of development (to be inserted at this point) results in the necessary victory of the *capitalist* over the *landowner* – that is to say, of developed over undeveloped, immature private property – just as in general, movement must triumph over immobility; open, self-conscious baseness over hidden, unconscious baseness; *cupidity* over *self-indulgence*; the avowedly restless, adroit self-interest of *enlightenment* over the parochial, worldly-wise, respectable, idle and fantastic *self-interest of superstition*; and *money* over the other forms of private property.
+
+Those states which sense something of the danger attaching to fully developed free industry, to fully developed pure morality and to fully developed philanthropic trade, try, but in vain, to hold in check the capitalisation of landed property.
+
+*Landed property* in its distinction from capital is private property – capital – still afflicted with *local* and political prejudices; it is capital which has not yet extricated itself from its entanglement with the world and found the form proper to itself – capital *not* yet *fully developed.* It must achieve its abstract, that is, its *pure*, expression in the course of its *cosmogony*.
+
+The character of *private property* is expressed by labour, capital, and the relations between these two. The movement through which these constituents have to pass is:
+
+*First. Unmediated* or *mediated unity of the two.*
+
+Capital and labour are at first still united. Then, though separated and estranged, they reciprocally develop and promote each other as *positive* conditions.
+
+[*Second.*] *The two in opposition*, mutually excluding each other. The worker knows the capitalist as his own non-existence, and vice versa: each tries to rob the other of his existence.
+
+[*Third*.] *Opposition* of each *to* itself. Capital = stored-up labour = labour. As such it splits into *capital itself* and its *interest*, and this latter again into *interest and profit*. The capitalist is completely sacrificed. He falls into the working class, whilst the worker (but only exceptionally) becomes a capitalist. Labour as a moment of capital – its costs. Thus the wages of labour - a sacrifice of capital.
+
+Splitting of labour into *labour itself* and the *wages of labour*. The worker himself a capital, a commodity.
+
+*Clash of mutual contradictions*.
+
+
[^preface1]:
The *Economic and Philosophic Manuscripts of 1844* is the first work in which Marx tried to systematically elaborate problems of political economy from the standpoint of his maturing dialectical-materialist and communist views and also to synthesise the results of his critical review of prevailing philosophic and economic theories. Apparently, Marx began to write it in order to clarify the problems for himself. But in the process of working on it he conceived the idea of publishing a work analysing the economic system of bourgeois society in his time and its ideological trends. Towards the end of his stay in Paris, on February 1, 1845, Marx signed a contract with Carl Leske, a Darmstadt publisher, concerning the publication of his work entitled *A Critique of Politics and of Political Economy.* It was to be based on his *Economic and Philosophic Manuscripts of 1844* and perhaps also on his earlier manuscript *Contribution to the Critique of Hegel’s Philosophy of Law.* This plan did not materialise in the 1840s because Marx was busy writing other works and, to some extent, because the contract with the publisher was cancelled in September 1846, the latter being afraid to have transactions with such a revolutionary-minded author. However, in the early 1850s Marx returned to the idea of writing a book on economics. Thus, the manuscripts of 1844 are connected with the conception of a plan which led many years later to the writing of *Capital*.
@@ -765,17 +816,13 @@ Let us look more closely at these three relations. *|XXVII||*
[^labour23]: This apparently refers to the conversion of individuals into members of civil society which is considered as the sphere of property, of material relations that determine all other relations. In this case Marx refers to the material relations of society based on private property and the antagonism of different classes.
-<!-- class: fst -->
-<span class="term">24.</span> The Poor Law Amendment Act of 1834 deprived poor people considered able to work (including children) of any public relief except a place in the workhouse, where they were compelled to work.
+[^second24]: The Poor Law Amendment Act of 1834 deprived poor people considered able to work (including children) of any public relief except a place in the workhouse, where they were compelled to work.
-<!-- class: fst -->
-<span class="term">25.</span> In the manuscript “sein für sich selbst,” which is an expression of Hegel’s term “für sich’ (for itself) as opposed to “an sich” (in itself). In the Hegelian philosophy the former means roughly explicit, conscious or defined in contrast to “an sich,” a synonym for immature, implicit or unconscious.
+[^second25]: In the manuscript “sein für sich selbst,” which is an expression of Hegel’s term “für sich’ (for itself) as opposed to “an sich” (in itself). In the Hegelian philosophy the former means roughly explicit, conscious or defined in contrast to “an sich,” a synonym for immature, implicit or unconscious.
-<!-- class: fst -->
-<span class="term">26.</span> This refers to *Revolutions de France et de Brabant, par Camille Desmoulins. Second Trimestre, contenant mars, avril et mai, Paris, l’an 1ier*, 1790, N. 16, p. 139 sq.; N. 23, p. 425 sqq.; N. 26, p. 580 sqq.
+[^second26]: This refers to *Revolutions de France et de Brabant, par Camille Desmoulins. Second Trimestre, contenant mars, avril et mai, Paris, l’an 1ier*, 1790, N. 16, p. 139 sq.; N. 23, p. 425 sqq.; N. 26, p. 580 sqq.
-<!-- class: fst -->
-<span class="term">27.</span> This refers to Georg Ludwig Wilhelm Funke, *Die aus der unbeschrdnklen Theilbarkeit des Grundeigenthums hervorgehenden Nachtheile, Hamburg und Gotha*, 1839, p. 56, in which there is a reference to Heinrich Leo, *Studien und Skizzen zu einer Vaturlehre des Slaates,* Halle, 1833, p. 102.
+[^second27]: This refers to Georg Ludwig Wilhelm Funke, *Die aus der unbeschrdnklen Theilbarkeit des Grundeigenthums hervorgehenden Nachtheile, Hamburg und Gotha*, 1839, p. 56, in which there is a reference to Heinrich Leo, *Studien und Skizzen zu einer Vaturlehre des Slaates,* Halle, 1833, p. 102.
<!-- class: fst -->
<span class="term">28.</span> The third manuscript is a thick notebook the last few pages of which are blank. The pages are divided into two columns by a vertical line, not for the purpose of dividing the text according to the headings but for purely technical reasons. The text of the first three sections comprises pp. I-XI, XIV-XXI, XXXIV-XXXVIII and was written as a supplement to the missing pages of the second manuscript. Pages XI-XIII, XVII, XVIII, XXIII, XXIV, XXVI, XXXIV contain the text of the concluding chapter dealing with the criticism of Hegel’s dialectic (on some pages it is written alongside the text of other sections). In some places the manuscript contains the author’s remarks testifying to his intention to unite into a single whole various passages of this section separated from each other by the text of other sections. Pages XXIX-XL comprise the draft Preface. Finally, the text on the last pages (XLI-XLIII) is a self-contained essay on the power of money in bourgeois society.