Capital a Critique of Political Economy volume 1

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Political economy values this fact so highly, that it occasionally identifies the acceleration of accumulation due to increased productiveness of labour, with its acceleration dut to increased exploitation of the labourer. 1 In the chapters on the production of surplus-value it was constantly presup- posed that wages are at least equal to the value of labour- power. Forcible reduction of wages below this value plays, however, in practice too important a part, for us not to pause upon it for a m...oment. It, in fact, transforms, within certain limits, the labourer's necessary consumption-fund into a fund for the accumulation of capital.
"Wages, " says John Stuart Mill, "have no productive power; they are the price of productive-power. Wages do not contribute, along with labour, to the production of com- modities, no more than the price of tools contributes along with the tools themselves. If labour could be had without purchase, wages) might be dispensed with. " 2 But if the labourers could live on air they could not be bought at any price.


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