Wage Labor And Capital, By Karl Marx

Karl Marx was a German Philosopher, Economist and radical sociologist. Having spent his later years in England, his contribution to Labour Theory and Capital has proven to be of great additions to the study of Economics. Some of his famous books include the Communist Manifesto, Das Kapital etc. Marxian theories or what is collectively called as “Marxism” is one of the most followed discipline around the world, by famous politicians and socialists. The book “Wage Labour and Capital” first appeared in the form of articles in the beginning of the year 1849 in Neue Rheinische Zeitung: Organ der Demokratie, meaning New Rhenish Newspaper: Organ of Democracy. This was a German Newspaper started by Karl Marx in the year 1848 respectively. This newspaper went on to record the most historic events in German for the next decade or so. This was later converted into a book and was considered to be the precursor to Marx’s Das Kapital. However, due to the occurring of certain
Marx says that an individual sells his labour for a certain amount of wages. He receives this labour from the capitalist, who not only demands his labour but actually demands his Labour-power. Thus, the labour-power is also a commodity. It’s a commodity that the worker sells to the capitalist. One can easily trace the reason behind this, which is wages. This wage that the labourer gets determines his level of subsistence. This level of subsistence determines his life productivity and thus affects every aspect of his life. He works to exists and thus to live. So labour is not merely a part of his life but is a sacrifice of his life. What he produces out of his abilities and faculties are not the goods that he makes, but the wages that he earns. Thus, after hours and hours of weaving, spinning, drilling etc: life begins at the point where his work activity ceases. This is the central idea behind the