15 Questions
What mistake did Marx make in his study of capitalism?
Mistaking the wealth created by capital for wealth created by labor
Who were the owners of the expanding industrial and commercial enterprises?
The capitalists
What was the distributive pattern like in capitalism?
The capitalists received a greater share of the proceeds of production
According to Marx, who does the surplus value belong to?
The laborers
According to Marx, can capital instruments create wealth?
No, they cannot create wealth
What would be the legitimate claim of the owners of capital, according to Marx?
A return of the original investment
According to Marx, what did the increasing productivity of capital result in?
An increase in the surplus value
What is the primary concern of the potential purchaser in an exchange economy?
The finished product
What did Marx believe about the value of material goods produced or services performed?
Only labor could be credited with the value
In what ways does mental activity enter into economic transactions?
Through the mental activity of scientists and managers
What is the role of man as a worker in the production of wealth?
Man is progressively less successful in competing with capital instruments
Marx recognized that machines and men are competitors in the sense that scientists and managers strive to eliminate labor costs and improve upon hand methods of production. This competition is due to the fact that machines, when they take the form of a machine, immediately become a competitor of the workman himself.
Marx recognized that machines and men are competitors
Marx observed that in the case of the handcraft industries, the workmen are parts of a living mechanism. In the factory, however, the workman becomes a mere living appendage to a lifeless mechanism independent of him.
Marx believed that workmen are parts of a living mechanism in the factory
Marx's failure to recognize that capital instruments in practice supplant not only physical forces, but intelligence, deterred him from recognizing that capital 'works' just as labor works.
Marx failed to recognize that capital instruments have an important role in production
As a production process uses more and more capital instruments, more of the human mental control of the process of production is shifted away from workers to scientists and management.
The mental control of the production process shifts away from workers as more capital instruments are used
Understanding the Relationship between Workers and Machines: A Quiz on Labor and Intelligent Direction
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