Sorry, where in this does capital come into play. Say I work my job, my surplus value is extracted by the company and I get my wage. Are you saying that whatever I buy with my wages is now capital? This makes no sense. Buying commodities with money is not ownership of the means of production.
So them say I take this item that I bought with my wages, and then resell it to another wage labourer who already has had their surplus value stolen by their employer. And say I even make money from it. This is called trade.
You're right I don't to ascribe trading in the market the same terminology that capitalists purchasing factories and underpaying wage-labourers, because it's not the same and it's not what those words mean.
Nowhere did I bring morality into this, so I'm not sure where you think I think that reselling shit to rip people off is moral, I'm just saying you're not using words right.
Buying stake in a company and purchasing a commodity are different things. If I buy stock with my wages, I might consider that stock capital because it will provide me income based on the labour of employees of that company and not my labor. And there is an argument that arbitrage of stock is capital accumulation.
But if I buy a commodity and resell it, nowhere am I siphoning someone else's labour to make that profit. Nobody is working for me to increase the value of the item I possess. My repricing and reselling might even be considered my own labour. I paid market value for a commodity and am reselling at a higher price. It may be unethical, but the gain in money from the arbitrage of goods is outside of the cycle of capital accumulation. Whose labour am I stealing value from?
Edit: I might be changing my mind about my definition of capital
deleted by creator
Sorry, where in this does capital come into play. Say I work my job, my surplus value is extracted by the company and I get my wage. Are you saying that whatever I buy with my wages is now capital? This makes no sense. Buying commodities with money is not ownership of the means of production.
So them say I take this item that I bought with my wages, and then resell it to another wage labourer who already has had their surplus value stolen by their employer. And say I even make money from it. This is called trade.
You're right I don't to ascribe trading in the market the same terminology that capitalists purchasing factories and underpaying wage-labourers, because it's not the same and it's not what those words mean.
Nowhere did I bring morality into this, so I'm not sure where you think I think that reselling shit to rip people off is moral, I'm just saying you're not using words right.
deleted by creator
Buying stake in a company and purchasing a commodity are different things. If I buy stock with my wages, I might consider that stock capital because it will provide me income based on the labour of employees of that company and not my labor. And there is an argument that arbitrage of stock is capital accumulation.
But if I buy a commodity and resell it, nowhere am I siphoning someone else's labour to make that profit. Nobody is working for me to increase the value of the item I possess. My repricing and reselling might even be considered my own labour. I paid market value for a commodity and am reselling at a higher price. It may be unethical, but the gain in money from the arbitrage of goods is outside of the cycle of capital accumulation. Whose labour am I stealing value from?
Edit: I might be changing my mind about my definition of capital
Yes, I am. I see where my view of capital was wrong . Money isn't capital, but money used to buy commodity for profiting is capital.