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.
American anthropologist (1923-1999)
Eric Robert Wolf (February 1, 1923 – March 6, 1999) was an anthropologist, best known for his studies of peasants, , and his advocacy of Marxian perspectives within anthropology. He held a joint position as a Distinguished Professor at both Lehman College and the beginning in 1971, where he spent the remainder of his career.
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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.
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.
By turning names into things we create false models of reality. By endowing nations, societies or cultures, with the qualities of internally homogeneous and externally distinctive bounded objects, we create a model of the world as a global pool hall in which the entities spin off each other like so many hard and round billiard balls.
Even the slave owner is restricted in his ability to manipulate his labor supply, for he must protect his investment in slaves by feeding them during times when they do not labor. In contrast, capitalist entrepreneurs can hire and fire laborers or very their wages in response to changing circumstances.
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