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The Accumulation of Capital

In: Development and Underdevelopment: A Marxist Analysis

Author

Listed:
  • Geoffrey Kay

    (The City University)

Abstract

In capitalist society reproduction takes place on an ever-extending scale. The social product always exceeds necessary consumption: as it does in every class society. But capitalism differs from other class societies in one vital respect: the surplus takes the form of surplus value, is appropriated by capital as profit and systematically ploughed back into production, for it is the nature of capital to expand. ‘Accumulate, accumulate! That is Moses and the Prophets. Accumulation for accumulation’s sake, production for production’s sake …’1

Suggested Citation

  • Geoffrey Kay, 1975. "The Accumulation of Capital," Palgrave Macmillan Books, in: Development and Underdevelopment: A Marxist Analysis, chapter 3, pages 56-85, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-02062-1_4
    DOI: 10.1007/978-1-349-02062-1_4
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