Home Views & Opinions Encyclopedia Iqbalica Muffakkire Pakistan Dr. M. Allama Iqbal

Encyclopedia Iqbalica Muffakkire Pakistan Dr. M. Allama Iqbal


Creation of Capital and Land. When we say that human being produces Capital. I shall use here Capital instead of Wealth. We meant that human being is the creator of the substance. Or if its different particular elements were present, still then human being transfers and changes and its situation and condition from its primary form. Wealth creates Labour and Capital. By the investment of Capital, the value of substance increases. The creation of capital has three main sources: Land, Labour and Capital.But some experts of Management also understand that, Management and Organisation is also important in the creation of Capital. So, we also join it as the fourth source of the Capital creation.
Land or Earth is a great gift for human beings, whose usage makes the life and biodiversity of earth comfortable. We can also predict about the future in terms of sources and Capital. Creation and sources of earth has many types. It depends upon the quality and quantity of that source. In terminology of economics, we call it as Product-Capital. Karl Marx Elaborates the Idea by saying:
“The coat is worth twice as much as the linen. But this is a mere quantitative difference, which for the present does not concern us. We bear in mind, however, that if the value of the coat is double that of 10 yds of linen, 20 yds of linen must have the same value as one coat. So far as they Productive activity, if we leave out of sight its special form, viz., the useful character of the labour, is nothing but the expenditure of human labour power. Tailoring and weaving, though qualitatively different productive activities, are each a productive expenditure of human brains, nerves, and muscles, and in this sense are human labour.”
Karl Marx, ‘Das Capital’, Progress Publisher’s Moscow, USSR 1971. Third edition Vol-1st, Page No: 31.
“They are but two different modes of expending human labour power. Of course, this labour power, which remains the same under all its modifications, must have attained a certain pitch of development before it can be expended in a multiplicity of modes. But the value of a commodity represents human labour in the abstract, the expenditure of human labour in general. And just as in society, a general or a banker plays a great part, but mere man, on the other hand, a very shabby part,14 so here with mere human labour. It is the expenditure of simple labour power, i.e., of the labour power which, on an average, apart from any special development, exists in the organism of every ordinary individual. Simple average labour, it is true, varies in character in different countries and at different times, but in a particular society it is given. Skilled labour counts only as simple labour intensified, or rather, as multiplied simple labour, a given quantity of skilled being considered equal to a greater quantity of simple labour. Experience shows that this reduction is constantly being made.”
Ibid: 32.
“A commodity may be the product of the most skilled labour, but its value, by equating it to the product of simple unskilled labour, represents a definite quantity of the latter labour alone.15 The different proportions in which different sorts of labour are reduced to unskilled labour as their standard, are established by a social process that goes on behind the backs of the producers, and, consequently, appear to be fixed by custom. For simplicity’s sake we shall henceforth account every kind of labour to be unskilled, simple labour; by this we do no more than save ourselves the trouble of making the reduction. are values, the coat and the linen are things of a like substance, objective expressions of essentially identical labour. But tailoring and weaving are, qualitatively, different kinds of labour. There are, however, states of society in which one and the same man does tailor and weaving alternately, in which case these two forms of labour are mere modifications of the labour of the same individual, and not special and fixed functions of different persons, just as the coat which our tailor makes one day, and the trousers which he makes another day, imply only a variation in the labour of one and the same individual. Moreover, we see at a glance that, in our capitalist society, a given portion of human labour is, in accordance with the varying demand, at one time supplied in the form of tailoring, at another in the form of weaving.”
Ibid: 32.