book summary of “ Das Kapital ” by Karl Marx
In this article, we will go through Karl Marx’s Das Kapital translated by Tom Rockmore. Throughout this book, which was a free interpretation of Marx’s economic ideas about capital and economics, Rockmore sought to discover a new perspective on Marx’s thought.
Who was Marx and why should we know about his economic thought?
Karl Marx was a philosopher, economist, thinker, critic and politician. We can say that he swam like a bold fish against the flow of the intellectual river of his time. Because of this, he suffered a lot, was exiled, deported from his native Germany, struggled with poverty, and even lost several children along the way; yet the impact and impetus he left on world thought has survived to this day.
Of course, Marx, both during his lifetime and after his death, had great opponents and critics, each of whom pointed to a realistic part of the works of Marx’s thought. Negative examples of this influence include the suppression of capitalism, the nationalization of all industries, the creation of a suffocating period for the private sector, and even the negative impact of his ideas on architecture.
What were the positive effects of Marx’s thought on the world?
Marx also left many positive points and influences on the world; for instance:
- Paying attention to children and their destiny regardless of any social class
- Ability to study and think freely for all people in the community
- Paying attention to the problems of the working class and launching the first international trade union
- Separating working hours from life and forcing capitalists to accept the fact that their workers are not their slaves
- Valuing leisure time and that everyone should decide for themselves how to spend their time
- Take a weekend off and spend time with family
- Opening issues such as job satisfaction and its impact on people’s psyche
- Struggle for freedom of expression and freedom of civil protest without violence and conflict
- Launching various campaigns to show protest and take the rights of the people
- Warn people about the relationship between corporations and governments
- Awareness of the negative and directing influence of the media
When we look closely, we see that most of what we owe right now is the seed that was sown by Marx in the minds of our past generations, and we now use its fruits painlessly. That is why reading this book will not be without grace for those of us who are investors.
What was the essence of Karl Marx’s thoughts?
Marx sought to create a new situation in the world by launching a struggle between the working class and the capitalist class. Although Karl was considered the affluent class of society, he was never able to cope with the oppression of the working class. He believed that the working class should govern society and that the concept of “state” should be eliminated.
Now, get acquainted with two key words in Karl Marx’s beliefs:
In Karl Marx’s Capital, we turn to Marx’s political, economic, and philosophical theories of capital. For this reason, it is better to clarify our task with a few repetitive phrases during this conversation:
Socialism
“Socialism” is a phrase that can be labeled with many meanings. But in its simplest form, socialism is an idea in which it seeks to downplay capitalism and give importance to the working class. As a result of this idea, a system will be created in which the government will have all the main tools of industry in the country. Because by doing so, they oust the private sector, suppress capitalism, and, with the power it has to manipulate money, its value, and the market, seemingly act in favor of the poor.
Marxism
The collection of Marx’s ideas and sayings is called “Marxism”. Of course, Marx himself did not seek such a thing. It can be said that Marxism is a personal interpretation or a selected part of the whole of Karl Marx’s thoughts and words, which was used by his supporters and even his opponents. In fact, each class, in turn, has taken its share of Marx’s ideas.
A closer look at Marx’s special view about commodities
Karl Marx’s book deals with some of Karl’s theories and ideas about commodities and capital. According to Marx, goods were not limited to objects that could be touched. He believed that the workers of a factory sold their work as a commodity to the employer and received money from him in return. The problem starts with the fact that there is a big gap between the money paid to the worker and the money that the customer ultimately pays for the goods. This distance clarifies two points:
- The employer always tries to pay less for the work bought from the worker and sell the goods at a much higher price.
- The worker, as a customer, is also forced to pay a high price for what he has produced
In this conflict, the employer becomes richer day by day, and the worker, who faces the problem of wage shortages and rising commodity prices, experiences a more difficult life.
The most important point that should not be left out of this caravan is the story of competition between factories. Employers do their best to reduce the cost of producing goods in order to gain more market share. One of the easiest things to do in this case is to reduce the wages of the workers.
What is the difference between consumption value and exchange value?
In Karl Marx’s Capital, another important factor called “consumption value” was examined. Marx believed that all the important and necessary things that man needs could not be bought and sold; For instance, all people on the planet need oxygen to breathe and sunlight.
However, you will not find any shop or factory that sells sunlight or ordinary air to others. Air and sunlight are plentiful and available to everyone so there is no way to buy and sell them. Things like these, even though our lives depend on them, are only worth consuming.
At the opposite end of the spectrum is the concept of “exchange value.” This value refers to scarce goods that are not readily available to the public. We need an intermediate commodity – like money – to have them. With this account, we can only use the hidden value in that commodity if we have paid the price for it.
Why did Marx care about socialism?
Marx, like other economists and philosophers, took his share of the conceptual value of each phrase. We have just read a simple definition of socialism; That is, the idea that ultimately ends the story in favor of the working class of society. In this book, we come to Marx’s interpretation of this story.
He believed that when wages paid to workers fell because of competition, a small flip would be enough for workers in poverty and misery to finally wake up, unite, and fight for their rights from employers. . One of Marx’s constant slogans, now written under Karl’s statue in countries like China and Russia, is: “Workers of the world unite!”
What criticisms pointed at Marx’s capitalist thought?
The bottom line
Each idea has its own supporters and opponents. Marx’s Das Kapital is no exception to this convoy. Let us look at them together:
The economic crises that Marx breathes are wrong
The first critique of Marx’s predictions of economic crises was weak because of the widening class gap and the unbearable pressures on the people. Some see these crises not because of the capitalist system but because of the modern era.
According to Marx ‘s Das Kapital , economics is not demand-driven
Carl believed that the main point controlling capital and the market was the amount of demand that governed it. Many economists, however, believe that the limiting factor is scarcity of resources, not demand.
Marx’s view of value is very limited and even inadequate
The third major critique of Marx’s thoughts on his view of value is its creation and sale. Some believe that Marx ignored important points such as the “theory of scarcity” and the “psychological dimension of man.”
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