Capital III. Chapter 14: Counteracting factors

Marx stresses that the phenomena he describes here are tendencies, rather than a general law – as per the previous chapter. Here exploitation of labour, reduction of wages below their value, cheapening of the elements of constant capital, the function of unemployment, foreign trade, and the increase in share capital are all presented as trends which act to attenuate the declining rate of profit.

The core question Marx returns to in this chapter is how is relative surplus-value produced?

More on this to come…


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Reading Capital in Sydney records reading notes on Marx's Capital I, II and III, and other bits and pieces.

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