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Capital is wrong

by George Pennefather

09 March 2000 18:53 UTC



In the opening paragraph of Capital Marx proclaims:

The wealth of those societies in which the capitalist mode of production 
prevails,
presents itself as "an immense accumulation of commodities," its unit being 
a single
commodity. Our investigation must therefore begin with the analysis of a 
commodity.
So the capitalist mode of production can prevail in more than one society.

To say that the "wealth of those societies presents itself as an immense 
accumulation of
commodities" is not true. Much of the wealth is in the form of industrial 
capital which is
not capital in the form of the commodity. This mistaken premise renders the 
validity of
making the commodity a starting point questionable on that basis.

Warm regards
George Pennefather

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