In this excerpt from The Accumulation of Capital, Rosa Luxemburg explains how classical political economy lacks a clear conception of the commodity—both in the terms of the distinctions between use value and exchange value, as well as between concrete and abstract labor. This metaphysical, essentialist framework leads to a complete failure to understand the social character of labor’s capacity to create value. | more…
Mountains of smoking ruins, heaps of mangled corpses, a steaming, smoking sea of fire wherever you turn, mud and ashes—that is all that remains of the flourishing little city which perched on the rocky slope of the volcano like a fluttering swallow. For some time the angry giant had been heard to rumble and rage against this human presumption, the blind self-conceit of the two-legged dwarfs. Great-hearted even in his wrath, a true giant, he warned the reckless creatures that crawled at his feet. He smoked, spewed out fiery clouds, in his bosom there was seething and boiling and explosions like rifle volleys and cannon thunder. But the lords of the earth, those who ordain human destiny, remained with faith unshaken—in their own wisdom | more…