Capital Accumulation - Blog Posts

A CRITIQUE OF THOMAS PIKETTY'S 'CAPITAL IN THE TWENTY-FIRST CENTURY' - 5

A CRITIQUE OF THOMAS PIKETTY’S ‘CAPITAL IN THE TWENTY-FIRST CENTURY’ – 5

  CONTAINING CAPITAL – 5

  Prasanna K Choudhary

            Karl Marx

3. CAPITAL SOCIAL AND SELF-EXPANDING (Continued) – 3

FETISH CAPITAL

“The relations of capital assume their most externalized and most fetish-like form in interest-bearing capital. We have here M → M′, money creating more money, self-expanding value, without the process that effectuates these two extremes. ….

It is a…

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A CRITIQUE OF THOMAS PIKETTY'S 'CAPITAL IN THE TWENTY-FIRST CENTURY' - 4

A CRITIQUE OF THOMAS PIKETTY’S ‘CAPITAL IN THE TWENTY-FIRST CENTURY’ – 4

  CONTAINING CAPITAL – 4

  Prasanna K Choudhary

3. CAPITAL SOCIAL AND SELF-EXPANDING (Continued) – 2

ACCUMULATION OF CAPITAL

This gratuitous service of past labor, when seized and filled with a soul by living labor increases with the advancing stages of accumulation. Past labor always disguises itself as capital. ..Capital is not a fixed magnitude, but is a part of social wealth, elastic and…

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A CRITIQUE OF THOMAS PIKETTY'S 'CAPITAL IN THE TWENTY-FIRST CENTURY' - 3

A CRITIQUE OF THOMAS PIKETTY’S ‘CAPITAL IN THE TWENTY-FIRST CENTURY’ – 3

  CONTAINING CAPITAL – 3

  Prasanna K Choudhary

Thomas Piketty zimbio.com

3. CAPITAL SOCIAL AND SELF-EXPANDING – 1

MONEY IS NOW PREGNANT. Goethe, ‘Faust’, Part I, Scene5.1

Let me begin with Thomas Piketty’s definition of capital, labor and ‘return on capital’. After all, ‘capital’ and ‘return on capital’ form the basic theme of the book.

Piketty writes, “In this book, capital is defined as the…

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