https://libcom.org/files/black_reconstruction_an_essay_toward_a_history_of_  

This is the link of this book, only read chapters I-V,VI-VII,XIV-XVI. write a 5 pages paper about these chapters, this class is Black Marxism.  last paper, I only get C-, professor said many points are unclear and many grammar mistakes, unclear sentences. So the second paper is really important. please pay more attention on the second paper.  

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Marx’s Essay

Capital represents the basis of both communist and socialist ideologies. Although this book has some redundancies in a way, it presents the reader with insight and vision of the industrial economy of the West. For instance, the book enables the reader to understand labor exploitation and alienation in depth. Karl Marx expresses the perspective of the economic universe through the theory of surplus-value, the origin of trade exchange and money, division of labor, and the conflict between the owners of capital and labor (Marx 67). Although the ideologies of Marxism seem to be diminishing after a chaotic 20th century for communism, capital still retains its relevance.

The General Formula for Capital

The foundation of capital is based on the circulation of commodities. According to Marx, the historical background from which capital rises is dependent on the production and dissemination of products (Marx 104). The current distribution of capital dates from the 16th century, where they embraced commerce and world trade. Besides the relevance of the circulation of commodities, which is a material substance that arises from the exchange of values, the other economic forms produced in the process is as a result of money. Money is the final product that originates from commodities circulation, which is the first form of capital. From that perspective, I can agree with Marx’s logic of capital.

According to Marx, we do not need to find the origin of capital to discover that capital first appears as money. It is valid from our daily activities, where we raise capital through cash. Whether it’s from the sale of commodities, money, or labor in the form of money has to be transformed through a formal process into capital. Therefore, the difference between cash and capital arises from their style of circulation (Marx 104). There are two forms of dissemination of commodities. One, there is a change of product into cash and the transformation of money back into products. This kind of transformation can occur through selling to buy another product. Alongside this transformation, there also exists a change of money into commodities and the change of products into cash. For example, it is the purchasing of products to trade them again. Therefore, it is true that money circulates latterly to become capital.

Taking a closer look at the conversion of money to commodities and back to money again, it’s evident that the process consists of two phases. The first stage is commonly known as the purchase, where cash is transformed into a product. Alternatively, the second stage involves changing the purchased commodity into money (Marx 105). The result of the two phases is an exchange of money for money, which creates the foundation of capital. Therefore, the generation of capital can only occur through a repetition of the two phases. I concur with the ideology of Marx that the possessor of the money is the capitalist.

Buying and Selling of Labor Power

The change of value can only occur if money is intended to be changed into capital since the value cannot arise from money itself. A commodity is usually purchased because of its value, meaning the value does not exist in the money (Marx 119). In other words, products possess value because they are embodied in labor. As a result, work creates value for the commodity. Therefore, it isn’t very easy for the possessor of money to find a product in the market that is not linked to labor or labor power. The capacity of work is an aggregate of the physical and mental capabilities of a human being, which individuals exercise whenever they produce a value of any kind.

With that said, for the money owner to find labor power for a commodity on sale, one condition has to be fulfilled. First, there need to be no dependence relations with the exchange of commodities rather than those that exist in its nature (Marx 119). From that perspective, labor can only enter the market as a product only if the owner sells it as a commodity. However, the possessor can only perform this action if they have the commodity at their disposal and the owner of the capacity for labor. As a result, the buyer and seller have to meet in the market and sell their services based on equal rights provided by law. I can agree with the argument that the possessor of the labor power alone has the rights over their commodity.

Since labor is viewed as a product, its worth is to be determined as it is the case with all commodities. The labor value relies on the work time needed for completion of the work (Marx 120). However, the labor power value exists only in the capacity of the human being providing the commodity. As a result, labor power production consists of the capabilities of the individual to reproduce himself or his maintenance. Consequently, for maintenance, an individual requires a certain quantity of survival. That is, the work value relies on the subsistence value needed for the maintenance of the worker. Therefore, I can agree that the means of subsistence must be enough to meet his wants, such as food, housing, and clothing, as well as maintain his health and strength.

Constant Capital and Variable Capital

Constant and variable capital plays a significant role in forming the value of a commodity. Different elements of capital influence the process of expanding the value of a product. The exceeding total value of merchandise over its constituent factors summation is considered the surplus of the initially advanced capital. Consequently, the means of production, as well as labor power, constitute the different existence modes that the initial value of capital assumed in the process of transforming money into various elements of the labor process. The part of capital represented utilizing production, auxiliary materials, instruments of labor, and raw materials do not change in the process of creation is called constant (Marx 146).

Conversely, the capital that is represented by labor and undertakes value change in the production process is known as a variable. Variable capital can reproduce an equivalent of its value as well as an excess value, which may differ according to the circumstances (Marx 147). In other words, variable capital continuously changes from one value to another. These types of capital, from the point of view, influence the means of production as well as labor power.

The Working Day

As stated earlier, labor power can be purchased and sold depending on its worth. The worth of labor, like that of all products, is influenced by the production time (Marx 162). Therefore, if the subsistence of the laborer on an everyday basis of production is 6 hours, it means he must work for only 6 hours daily to deliver the necessary labor. In doing so, the laborer can reproduce the value required from his sale. Working 6 hours a day is a given quantity, but the extent of the working day is not specified.

As a result, the working day cannot be determined as a constant; instead, it is a variable quantity. This means working time needed to reproduce the labor power of the worker determines the working day (Marx 162). However, the total amount of time is dependent on the surplus labor duration. In short, the working day can be determined, but it’s unspecified. Even if the working day is a variable quantity, it can only differ within specific limits. The common challenge is that the minimum threshold of a working day cannot be determined since the working day itself cannot be reduced to a minimum, but it has a maximum limit. As a result, I can support Marx’s notion that if the worker consumes the disposable time, the capitalist is at a disadvantage.

Conclusion

The writer of Capital ‘A Critique of Political Economy’ has significantly followed Marxist positions on capitalism. For one, after reading the book, one gets to understand the secret of the commodity. The writer explains in-depth the role of the product in transforming money into capital. Consequently, the book enables the reader to understand the relationship between commodity and value. The writer describes the importance of value in the transformation of the product into money and money into commodity and vice versa. In doing so, the writer supports the ideology of Marx that value is the most crucial aspect of capitalism. According to Marx, human beings can labor and reproduce labor, and the production process has its value. The writer agrees with Marx by stating that the value of laborers depends on the value of subsistence. Alternatively, the writer aligns with the fact that the working day of a laborer should be spent according to his subsistence levels and daily reproduction. However, if the worker consumes disposable time, they are robbing the capitalist.

Work Cited

Marx, Karl. “Capital: A Critique of Political Economy, Volume I, Book One: The Process of Production of Capital.” Moscow, RU: Progress Publishers (1887).