Eric Wolf: Capital

Eric Wolf was American anthropologist. Explore interesting quotes on capital.
Eric Wolf: 48   quotes 0   likes

“The major vehicle of for the transition to the capitalist mode of production was the textile industry of eighteenth - century England. In cloth production mercantile wealth was visibly transformed into capital, as it acquired the dual function of purchasing machines and raw materials, on the one hand, and buying human energy to power their operation on the other.”

Eric Wolf

Source: Europe and the People Without History, 1982, Chapter 9, Industrial Revolution, p. 267.

Clothes , Wealth

“The development of industrial capitalism did not move in a smooth ascending line.”

Eric Wolf

Source: Europe and the People Without History, 1982, Chapter 11, The Movement of Commodities, p. 311.

“The essence of capital is its ability to mobilize social labor by buying labor power and setting it to work. This requires a market in which the capacity of human beings to work can be bought and sold like any other commodity: buyers of labor power offer wages, which sellers accept in return for a commodity, their own labor.”

Eric Wolf

Source: Europe and the People Without History, 1982, Chapter 12 The New Laborers, p. 354.

“The rise of industrial capitalism thus rested on the maintenance of slavery in another part of the world, even though that slavery was no longer dependent on the continuation of the slave trade.”

Eric Wolf

Source: Europe and the People Without History, 1982, Chapter 11, The Movement of Commodities, p. 316.

World , Parting , Dependency

“Only when the stock of wealth can be related to human energy by purchasing living energy as "labor power", offered for sale by people who have no other means of using their labor to ensure their livelihood: and only when it can relate that labor power to purchased machines - embodiments of past transformation of nature by human energy expended in the past - only then does "wealth" become "capital."”

Eric Wolf

Source: Europe and the People Without History, 1982, Chapter 10, Crises and Differentiation in Capitalism, p. 298.

People , Nature , Past , Wealth

“The capitalist mode acts to accumulate capital through the hiring of labor power, but is marked by the cyclical alternation of labor mobilization and labor displacement; each intake of labor power uproots some prior adaptation, while each sloughing off of labor power creates a new cohort of the unemployed.”

Eric Wolf

Afterword, p. 386.
Europe and the People Without History, 1982

“Wealth in the hands of the holders of wealth is not capital until it controls the means of production, buys labor power, and puts it to work, continuously expanding surpluses by intensifying productivity through an ever-rising curve of technological inputs.”

Eric Wolf

Source: Europe and the People Without History, 1982, Chapter 3, Modes of Production, p. 78.

Wealth

“Under the conditions of the new mode, capital was able to embark on a process of continual internal and international migration, drawing ever more groups of people into its orbit and reproducing its strategic relationships wherever and whenever it took root.”

Eric Wolf

Source: Europe and the People Without History, 1982, Chapter 9, Industrial Revolution, p. 295.

People , Drawing