Chapter 15: Machinery and Large-Scale Industry

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Machinery produces relative surplus-value, not only by directly reducing the value of labour-power and indirectly cheapening it by cheapening the commodities that enter into its reproduction, but also, when it is first introduced sporadically into an industry, by converting the labour employed by the owner of that machinery into labour of a higher degree, by raising the social value of the article produced above its individual value, and thus enabling the capitalist to replace the value of a day's lahour-power by a smaller portion of the value of a day's product. During this transitional period, while the use of machinery remains a sort of monopoly, profits are exceptional, and the capitalist endeavours to exploit thoroughly 'the sunny time of this his first love' by prolonging the working day as far as possible. The magnitude of the profit gives him an insatiable hunger for yet more profit.