How did surplus in production resulted in growth of towns
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Answer:
Explanation:
In Das Kapital and other writings, Marx divides the new "social product" of the working population (the flow of society's total output of new products in a defined time-interval) into the necessary product and the surplus product. Economically speaking, the "necessary" product refers to the output of products and services necessary to maintain a population of workers and their dependents at the prevailing standard of life (effectively, their total reproduction cost). The "surplus" product is whatever is produced in excess of those necessaries. Socially speaking, this division of the social product reflects the respective claims which the labouring class and the ruling class make on the new wealth created.
Answer:
Though most farmers and peasants individually produced very little surplus, the aggregated surplus of millions of agricultural workers was easily enough to support a large number of towns and to foster the development of industry, commerce and banking.
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Explanation