Primitive accumulation of capital

In Marxist economics and preceding theories, the problem of primitive accumulation (also called previous accumulation, original accumulation) of capital concerns the origin of capital, and therefore of how class distinctions between possessors and non-possessors came to be.

Adam Smith's account of primitive-original accumulation depicted a peaceful process, in which some workers labored more diligently than others and gradually built up wealth, eventually leaving the less diligent workers to accept living wages for their labor .Karl Marx rejected this explanation as "childishness," instead stating that, in the words of David Harvey, primitive accumulation "entailed taking land, say, enclosing it, and expelling a resident population to create a landless proletariat, and then releasing the land into the privatized mainstream of capital accumulation". This would be accomplished through violence, war, enslavement, and colonialism.

The concept was initially called in different ways, and the expression of an "accumulation" which is at the origin of capitalism, began to appear with Adam Smith. Smith, in his English language The Wealth of Nations spoke of a previous accumulation, although he never actually refers to accumulation as previous accumulation in "The Wealth of Nations";Karl Marx, in the German language Das Kapital, reprised Smith's expression, by translating it to German as ursprünglich ("original, initial"); Marx's translators, in turn, rendered it into to English as primitive. James Steuart, with his 1767 work, is considered by some scholars as the greatest classical theorist of primitive accumulation.

In disinterring the origins of capital, Marx felt the need to dispel what he felt were religious myths and fairy-tales about the origins of capitalism. 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. Its origin is supposed to be explained when it is told as an anecdote of the past. In times long gone-by 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. (...) Thus it came to pass that the former sort accumulated wealth, and the latter sort had at last nothing to sell except their own skins. And from this original sin dates the poverty of the great majority that, despite all its labour, has up to now nothing to sell but itself, and the wealth of the few that increases constantly although they have long ceased to work. Such childishness is every day preached to us in the defence of property."

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