‘Primitive’ Capital Accumulation

Amlan Datta

Chapter Chapter III in Perspectives of Economic Development, 1973, pp 26-36 from Palgrave Macmillan

Abstract: Abstract The idea of ‘primitive accumulation’ is set forth by Karl Marx (1818–83) in Volume I of Capital in the following words: The accumulation of capital presupposes surplus-value; surplus-value presupposes capitalistic production; capitalistic production presupposes the preexistence of considerable masses of capital and of labour-power in the hands of producers of commodities. The whole movement, therefore, seems to turn in a vicious circle, out of which one can only get by supposing a primitive accumulation (previous accumulation of Adam Smith) preceding capitalistic accumulation; an accumulation not the result of the capitalist mode of production, but its starting point.1

Keywords: Eighteenth Century; Capital Accumulation; Capital Formation; Capitalistic Production; Silk Textile (search for similar items in EconPapers)
Date: 1973
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-01956-4_3

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DOI: 10.1007/978-1-349-01956-4_3

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