Soc Theory: Marx

In his major work Capital Marx set out his analysis of the commodity and its power (the fetishism of commodities) which led to his analysis of capital in general (M-C-M) with its three types: merchant, industrial and interest-bearing. First, spell out these two dimensions of Marx’s analysis of modern capitalism-the commodity and its fetishism as well as the nature of capital in general and two of its particular three types: merchant and industrial. Here you should focus your answer on explaining in some detail the nature of capital in general and the specific details of merchant and manufacturing capital. Then, you should turn to Marx’s analysis of the social relations of production of capitalist society. Here you need to spell out the role of the capitalist as the living support of the process of capital accumulation, as well as how the labor-power of the wage-laborer is the only source for increases in exchange-value that creates surplus value for the capitalist. Finally, discuss why Marx believed that the normal functioning of capital would lead to the centralization and concentration of capital.

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