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‘Primitive’ Capital Accumulation

In: Perspectives of Economic Development

Author

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  • Amlan Datta

Abstract

The idea of ‘primitive accumulation’ is set forth by Karl Marx (1818–83) in Volume I of Capital in the following words: The accumulation of capital presupposes surplus-value; surplus-value presupposes capitalistic production; capitalistic production presupposes the preexistence of considerable masses of capital and of labour-power in the hands of producers of commodities. The whole movement, therefore, seems to turn in a vicious circle, out of which one can only get by supposing a primitive accumulation (previous accumulation of Adam Smith) preceding capitalistic accumulation; an accumulation not the result of the capitalist mode of production, but its starting point.1

Suggested Citation

  • Amlan Datta, 1973. "‘Primitive’ Capital Accumulation," Palgrave Macmillan Books, in: Perspectives of Economic Development, chapter 0, pages 26-36, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-01956-4_3
    DOI: 10.1007/978-1-349-01956-4_3
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