Capital

Capital is the fundamental concept of modern social theory because capital is the foundation of bourgeois society. Unlike produced means of production, capital is a specific social form of production. A vast gulf separates Marx from the mainstream notion that capital is produced means of production. Inattention to production’s social form, a feature of the “bourgeois horizon,” shackles social theory: it puts capital out of sight. Capital is value whose value is increased. Value is enigmatic; a strange, “supersensible” social form of wealth, it results from commodity-producing labor. The topic of labor’s social form falls outside economics. Capital shapes and subsumes society in various ways. Marx identifies several forms of subsumption: formal, real, and ideal, as well as “hybrid forms.” Commerce makes capitalist society appear classless; however, capital presupposes a class division of the means of production and subsistence. Crises are seeded in the dichotomous character of commodities.