Innovation, Competition, and Surplus Value in Capitalism

This chapter explores the motivations of capitalists to innovate and increase productivity within the competitive market, delving into the concept of surplus value and socially necessary labor time. It emphasizes the role of technological dynamism and competition in driving market dynamics, highlighting the pursuit of short-term profits and leapfrogging innovations. The discussion emphasizes how individual behavior and class interests among capitalists shape the competitive nature of capitalism and the central role innovation plays in the capitalist mode of production.