Capitalism Essay

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The capitalist or the owner of capital brings them under one umbrella to manufacture something and this is commodity.

In Bottomore’s book capitalism has been defined in the following language.

Too far as it is a value in use, there is nothing mysterious about it.

But as soon as it steps forth as a commodity it is changed into something transcendent.

The term capitalism denotes “a mode of production in which capital in its various forms is the principal means of production.

Construction Essays - Capitalism Essay

Capital may take the form of money or credit for the purchase of labour power and materials of production of physical machinery.”The suffix “ism” can be used to denote a phase of history, a movement, a system of ideas or some combination of them. In fact capitalism is the by­-product of Industrial Revolution and Marx’s philosophy centres around the devel­opment of capitalism and its consequence. The starting point of Marxian philosophy is capitalism.One typical feature of capitalism is the domination of few persons in commodity production.Commodities are produced under the absolute authority of the owners of capital.It is, therefore, necessary to know what is commodity. From his analysis it appears that not every product of labour is a commodity.If the product of individual’s labour satisfies his own needs or those of his family, then it is only a product, a thing, but not a commodity.A commodity appears, at first sight, a very trivial thing.Its analysis shows that it’ is, in reality, a very queer thing, abounding in metaphysical subtleties and theological niceties.Capitalist production is the production of commodities.Commodity production is the production of goods for exchange or sale it replaced the natural economy that was the dominant form of production under slavery and feudalism.

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