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What is competition?

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Chapter Summary

Competition is the world of markets, prices, profits, profit rates, interest, and rent. Competition is the world of many capitals, real capitals, capitals as they really exist. Capital, indeed, exists and can only exist as many capitals. The essence of capital is that it is the sum of accumulated surplus-value, the fruits of exploitation of workers. This chapter describes the incredible power of Marx's development of the concept of capital as a whole. If we fail to distinguish between the essence of capital and its appearance in competition, we are either rejecting Marxs methodology or demonstrating that we do not understand it.

Keywords: capital; competition; Marxs methodology



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