Karl Marx Quotes


The labour-power is a commodity , not capital, in the hands of the labourer, and it constitutes for him a revenue so long as he can continuously repeat its sale; it functions as capital after its sale, in the hands of the capitalist, during the process of production itself.


Citations

Marx, Karl. Capital: Volume II. Progress Publishers, 1956, p. 444.

Related Quotes

Statements like this caused some to believe him a Marxist, but see his quotation on Karl Marx -- {603061}.


The Laffer curve was a mathematical, economic curve supposedly showing the relationship between tax rate and government revenue from taxes. In Laffer’s version of this curve, as interest rates go down, revenue from taxes goes UP because according to Laffer, there will be much more economic activity if taxes are lowered. In reality this has happened rarely in certain countries and in a very narrow range of tax deduction. As Chretien observes if you lower the tax rate to zero according to the Laffer curve this should maximize revenue but obviously it does not because with a zero rate there are no taxes collected even if the economy is booming. The Laffer curve was ideologically popular with those politicians wanting to lower taxes, but it never stood up to serious analysis and never worked in practice as Chretien observes. As a result, some people refer to the curve as the Laughter curve.


Karl Marx
Karl Marx
  • Born: May 5, 1818
  • Died: March 14, 1883
  • Nationality: Prussian
  • Profession: Philosopher

Karl Heinrich Marx was a German philosopher, economist, historian, sociologist, political theorist, journalist and socialist revolutionary. Born in Trier, Germany, Marx studied law and philosophy at university. He married Jenny von Westphalen in 1843. Due to his political publications, Marx became stateless and lived in exile with his wife and children in London for decades, where he continued to develop his thought in collaboration with German thinker Friedrich Engels and publish his writings, researching in the reading room of the British Museum. His best-known titles are the 1848 pamphlet The Communist Manifesto and the three-volume Das Kapital (1867–1883). Marx's political and philosophical thought had enormous influence on subsequent intellectual, economic and political history. His name has been used as an adjective, a noun, and a school of social theory.