What is Capitalism?

surplusvaluecolorCapitalism is a mode of production – a totality of social relations that shapes how the society as a whole reproduces itself, how we all meet our needs, how we get from one day to the next. There are different modes of production, distinguished from one another by what drives the economy. This economic foundation generates, and is in turn supported by, a corresponding political system (which keeps one class in power over everyone else), plus prevailing ways of thinking that make it all seem natural and inevitable (such as the idea that “poverty we shall always have with us.”)

Other contemporary and recent modes of production besides capitalism are slavery and feudalism. All of these have one thing in common: class divisions that facilitate the accumulation of wealth by a small parasitical minority on the backs of the producing majority.

For slavery and feudalism, the new wealth taken possession of by the ruling class is the product itself. Under feudalism, a landlord takes half or a third of a peasant’s grain, whatever the quantity is and however much work the peasant put into it. But capitalist accumulation runs on a different formula. For capitalists, the product itself is not the point—the wealth they accumulate is the labor power extracted from workers in the production process. Labor power is wealth crystalized in commodities, in the form of surplus value (a form of profit). The particular kinds of commodities we produce don’t really matter; the money is made in the production of them.

In order not to starve, workers, who possesses or control no means of production, must sell our labor power, or ability to work, to the capitalist, for wages. (Our predicament is no accident, but has been engineered through systematic historical dispossession of formerly self-sufficient, land-based people.)

The big scam of capitalism is that wages are supposedly a fair trade of money for the amount of time that we work. Wages are generally based on what capitalists decide that we need for our survival—to pay our rent and feed our families. But in reality, capitalists are not buying our time—they are buying our labor power, which they use to produce commodities for them, that they later sell at a price higher than what they paid us. This profit is reinvested as new capital, which causes businesses (and the economy as a whole) to constantly grow larger.

Read more

Confessions of a Petit Bourgeois Radical Striving to Assist the Working Class in the Fight Against Capitalism

ladder9/20/16

An old comrade of mine died last spring. Around 25 years ago we were part of a team distributing “Revolutionary Worker” newspapers in Miami neighborhoods. After I left the RCP a few years later, we ceased working together but remained friends.

He left behind a box of pamphlets from the mid- to late-1970s issued by various New Left groups in the Bay Area, where much of his political development took place. I put them out on the porch and have been slowly going through them, curious about how the Left conceptualized revolutionary activity back then, and looking for clues as to why it largely abandoned class struggle in favor of social justice activism.

Judging by these pamphs, which were issued by at least half a dozen different communist organizations, it seems like the political scene in the Bay Area was pretty lively. Most of the texts are long, highly detailed polemics against rival communist groups, on questions ranging from the socialist character (or not) of China and Albania, to whether all forms of nationalism are reactionary (or not).

Personally, I’m interested in their attempts at participating in workers’ struggles and spreading revolutionary class consciousness among workers. Most, if not all, of them claimed to recognize the need for the working class (or some “most oppressed” section of it) to lead the struggle against capitalism/imperialism, but they seemed to have spent much of their energy attempting to be the leaders themselves, and going for each other’s throats in competitive attempts to become “The” Party.

I looked up the pamphlets online and in case you’re interested, many of them can actually be found in this vast archive of “anti-revisionist” struggle: https://www.marxists.org/history/erol/erol.htm

For someone unfamiliar with this history, these arguments between highly specialized groups can seem mind-boggling, with demarcations of line being pared down to what might seem an almost obsessive and insane narrowness. But keep in mind that it was a different time: social and political struggles were flaring up globally, including in the US, and as any movement matures, political differences translate into differences in approach and strategy that really do matter. So I’m not ridiculing the need for demarcations and polemics, which are always present whenever people try to do anything together (“Let’s watch Mistresses.” “Hell no, the acting has really gone downhill.”)

But it must be asked: where are they now? Did all that passionate quarreling make any difference at all, did it help advance working class power in the struggle against capitalism, or was it just a “tempest in a teapot”? Did it reflect an appropriate assessment of and response to the actual conditions that existed at the time?

Read more

0

Your Cart