“The development of fixed capital indicates in still another respect the degree of development of wealth generally, or of capital…”

— Karl Marx , book Grundrisse

Notebook VII, The Chapter on Capital, pp. 628–629.
Grundrisse (1857/58)
Context: The development of fixed capital indicates in still another respect the degree of development of wealth generally, or of capital…
The creation of a large quantity of disposable time apart from necessary labour time for society generally and each of its members (i. e. room for the development of the individuals’ full productive forces, hence those of society also), this creation of not-labour time appears in the stage of capital, as of all earlier ones, as not-labour time, free time, for a few. What capital adds is that it increases the surplus labour time of the mass by all the means of art and science, because its wealth consists directly in the appropriation of surplus labour time; since value directly its purpose, not use value. It is thus, despite itself, instrumental in creating the means of social disposable time, in order to reduce labour time for the whole society to a diminishing minimum, and thus to free everyone’s time for their own development. But its tendency always, on the one side, to create disposable time, on the other, to convert it into surplus labour...
The mass of workers must themselves appropriate their own surplus labour. Once they have done so – and disposable time thereby ceases to have an antithetical existence – then, on one side, necessary labour time will be measured by the needs of the social individual, and, on the other, the development of the power of social production will grow so rapidly that, even though production is now calculated for the wealth of all, disposable time will grow for all. For real wealth is the developed productive power of all individuals. The measure of wealth is then not any longer, in any way, labour time, but rather disposable time. Labour time as the measure of value posits wealth itself as founded on poverty, and disposable time as existing in and because of the antithesis to surplus labour time; or, the positing of an individual’s entire time as labour time, and his degradation therefore to mere worker, subsumption under labour. The most developed machinery thus forces the worker to work longer than the savage does, or than he himself did with the simplest, crudest tools.

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Karl Marx 290

German philosopher, economist, sociologist, journalist and … 1818–1883

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“The development of fixed capital indicates in still another respect the degree of development of wealth generally, or of capital…
The creation of a large quantity of disposable time apart from necessary labour time for society generally and each of its members (i.e. room for the development of the individuals’ full productive forces, hence those of society also), this creation of not-labour time appears in the stage of capital, as of all earlier ones, as not-labour time, free time, for a few. What capital adds is that it increases the surplus labour time of the mass by all the means of art and science, because its wealth consists directly in the appropriation of surplus labour time; since value directly its purpose, not use value. It is thus, despite itself, instrumental in creating the means of social disposable time, in order to reduce labour time for the whole society to a diminishing minimum, and thus to free everyone’s time for their own development. But its tendency always, on the one side, to create disposable time, on the other, to convert it into surplus labour...
The mass of workers must themselves appropriate their own surplus labour. Once they have done so – and disposable time thereby ceases to have an antithetical existence – then, on one side, necessary labour time will be measured by the needs of the social individual, and, on the other, the development of the power of social production will grow so rapidly that, even though production is now calculated for the wealth of all, disposable time will grow for all. For real wealth is the developed productive power of all individuals. The measure of wealth is then not any longer, in any way, labour time, but rather disposable time. Labour time as the measure of value posits wealth itself as founded on poverty, and disposable time as existing in and because of the antithesis to surplus labour time; or, the positing of an individual’s entire time as labour time, and his degradation therefore to mere worker, subsumption under labour. The most developed machinery thus forces the worker to work longer than the savage does, or than he himself did with the simplest, crudest tools.”

Karl Marx book Grundrisse

Grundrisse (1857-1858)
Source: Notebook VII, The Chapter on Capital, pp. 628–629.

“Nature builds no machines, no locomotives, railways, electric telegraphs, self-acting mules etc. These are products of human industry; natural material transformed into organs of the human will over nature, or of human participation in nature. They are organs of the human brain, created by the human hand; the power of knowledge, objectified. The development of fixed capital indicates to what degree general social knowledge has become a direct force of production, and to what degree, hence, the conditions of the process of social life itself have come under the control of the general intellect and been transformed in accordance with it.”

Karl Marx (1818–1883) German philosopher, economist, sociologist, journalist and revolutionary socialist

Die Natur baut keine Maschinen, keine Lokomotiven, Eisenbahnen, electric telegraphs, selfacting mules etc. Sie sind Produkte der menschlichen Industrie; natürliches Material, verwandelt in Organe des menschlichen Willens über die Natur oder seiner Betätigung in der Natur. Sie sind von der menschlichen Hand geschaffene Organe des menschlichen Hirns; vergegenständliche Wissenskraft. Die Entwicklung des capital fixe zeigt an, bis zu welchem Grade das allgemeine gesellschaftliche Wissen, knowledge, zur unmittelbaren Produktivkraft geworden ist und daher die Bedingungen des gesellschaftlichen Lebensprozesses selbst unter die Kontrolle des general intellect gekommen, und ihm gemäß umgeschaffen sind.
(1857/58)
Source: Notebook VII, The Chapter on Capital, p. 626.

“But suppose, for the sake of argument, free competition, without any sort of monopoly, would develop capitalism trade more rapidly. Is it not a fact that the more rapidly trade and capitalism develop, the greater is the concentration of production and capital which gives rise to monopoly?”

Vladimir Lenin (1870–1924) Russian politician, led the October Revolution

Source: Imperialism, the highest stage of capitalism: a popular outline

“Any account of the development of the international monetary system is also necessarily an account of the development of international capital markets.”

Barry Eichengreen Introduction

Source: Globalizing Capital (2008), Chapter 1. Introduction

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

Eric Wolf (1923–1999) American anthropologist

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

“[B]oth the communists and fascists revolutions definitely abolished laissez-faire capitalism in favor of one or another kind and degree of state capitalism.”

Norman Thomas (1884–1968) American Presbyterian minister and socialist

A Socialist’s Faith, W. W. Norton, 1951, p. 55.

“What was it, then, about the development of capitalism that gave rise to modern racial ideology?”

David McNally (1953) Canadian political scientist

Source: Another World Is Possible : Globalization and Anti-capitalism (2002), Chapter 4, The Colour Of Money, p. 112

“The inflow of capital from the developed countries is the prerequisite for the establishment of economic dependence.”

Ernesto Che Guevara (1928–1967) Argentine Marxist revolutionary

On Development (1964)
Context: The inflow of capital from the developed countries is the prerequisite for the establishment of economic dependence. This inflow takes various forms: loans granted on onerous terms; investments that place a given country in the power of the investors; almost total technological subordination of the dependent country to the developed country; control of a country's foreign trade by the big international monopolies; and in extreme cases, the use of force as an economic weapon in support of the other forms of exploitation.

“No fixed capital can yield any revenue but by means of a circulating capital.”

Adam Smith (1723–1790) Scottish moral philosopher and political economist

Source: (1776), Book II, Chapter I, p. 311.

“Intellectual capital is the main determining factor and the base for economic and social development to any country.”

Talal Abu-Ghazaleh (1938) Jordanian businesspeople

Meeting the Challenges of Electronic Business” in Muscat, Oman, October 9, 2000.

“The development of fixed capital indicates in still another respect the degree of development of wealth generally, or of capital…”

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Karl Marx 290

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