“ The industrial capitalist always has the world-market before him, compares, and must constantly compare, his own cost-prices with the market-prices at home, and throughout the world. ”
Karl Marx, Das Kapital (1894). copy citation
| Author | Karl Marx |
|---|---|
| Source | Das Kapital |
| Topic | cost price |
| Date | 1894 |
| Language | English |
| Reference | |
| Note | |
| Weblink | https://www.marxists.org/archive/marx/works/download/pdf/Capital-Volume-... |
Context
“What restricts this mass production is not commerce (in so far as it expresses the existing demand) , but the magnitude of employed capital and the level of development of the productivity of labour. The industrial capitalist always has the world-market before him, compares, and must constantly compare, his own cost-prices with the market-prices at home, and throughout the world. In the earlier period such comparison fell almost entirely to the merchants, and thus secured the predominance of merchant's capital over industrial capital.
The first theoretical treatment of the modern mode of production — the mercantile system — proceeded necessarily from the superficial phenomena of the circulation process as individualised in the movements of merchant's capital, and therefore grasped only the appearance of matters.”
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