Lably
Skip to content

Primitive accumulation

Marxist theory of the origin of capitalism

  • 22 min read
  • 5 chapters

Related on Lably

Through Feudalism, Karl Marx and Peasant

Marx's theory was a critique of the origin stories presented by classical political economists like Adam Smith, who depicted the rise of capitalism as a result of the peaceful, thrifty saving and reinvestment by an industrious minority. Marx compared this narrative to the theological concept of original sin, arguing that it served to justify the wealth of the rich and the poverty of the working class by locating its origins in a mythical past. In contrast, Marx's "so-called primitive accumulation" laid bare the violent conquests, enslavement, robbery, and murder that established the capitalist order. According to economist Michael Perelman, classical political economists were not merely passive observers of this process but active advocates who championed policies to accelerate it. Despite their public-facing rhetoric of laissez-faire, figures from William Petty to Smith actively supported measures to deprive people of their traditional means of self-provisioning in order to create a disciplined, wage-dependent workforce.

Feminist scholars, such as Silvia Federici, have expanded on Marx's analysis, arguing that primitive accumulation was also a process of subjugating women's bodies and reproductive labor to the needs of capital accumulation, a process enforced through the terror of the witch-hunts. Contemporary geographers such as David Harvey argue that "primitive accumulation" is a misnomer, as the process is ongoing, coining the term "accumulation by dispossession" to emphasize its continuity within the capitalist system.

Origins and definition

The concept of "primitive accumulation" was developed by Karl Marx as a direct refutation of what he considered the "childish" and "insipid" origin story of capitalism presented by classical political economists. These accounts, which political historian Ellen Meiksins Wood terms the "commercialization model", suggest that capitalism arose as a natural result of age-old practices of trade and commerce, once they were freed from the constraints of feudalism. In this model, the rising "bourgeoisie", a class of town-dwelling merchants and artisans, gradually accumulated enough wealth to invest in new technologies and production, leading organically to industrial capitalism.

Adam Smith's "previous accumulation"

In The Wealth of Nations (1776), Adam Smith argued that the accumulation of a stock of capital was a necessary precondition for the division of labour. He stated that "the accumulation of stock must, in the nature of things, be previous to the division of labour". Smith's narrative suggested that capitalism arose from a group of industrious, frugal individuals who saved and reinvested their funds, gradually building up the "stock" necessary to employ others and improve productivity. In this view, the class structure of society—between the owners of capital and the wage-labourers—emerged naturally and peacefully from the different virtues of its members.

Marx's critique

Marx rejected Smith's explanation as a "fairy tale" that served to justify the existing economic inequality. He argued that this story was equivalent to the theological concept of original sin, which explains poverty by recounting how a group of people in a distant past were condemned for their transgressions. Marx wrote, "This primitive accumulation plays in Political Economy about the same part as original sin in theology. Adam bit the apple, and thereupon sin fell on the human race... So it is alleged that there was a time, long ago, when there were two sorts of people; one, the diligent, intelligent, and, above all, frugal elite; the other, lazy rascals, spending their substance, and more, in riotous living."

To distinguish his concept from Smith's, Marx, in translating Smith's "previous" accumulation into German as ursprünglich ("original" or "primary"), prefixed it with the pejorative "so-called" (sogenannte). Marx insisted that the real process was one of violent expropriation. He summarized this history by stating that "capital comes dripping from head to toe, from every pore, with blood and dirt".

For Marx, primitive accumulation was not simply the accumulation of wealth, but a fundamental transformation of social property relations. It was the historical process that created the essential preconditions for capitalism: the separation of a large population from their means of subsistence, creating a class of "free" proletarians who had no choice but to sell their labour-power to capital. This expropriation, which Marx located primarily in the English countryside, was "written in the annals of mankind in letters of blood and fire". It was this transformation, rather than the simple accumulation of money, that generated the unique dynamics of capitalism: the imperatives of competition, profit-maximization, and a constant need to improve labour productivity.

Sign in to keep reading

4 more chapters are free with a Lably account.

More in Economics