A Contribution to the Critique of Political EconomyMarx, Karl
Philosophy
A Contribution to the Critique of Political Economy
Marx, Karl
Economics; Marxian economics
Money passes into the hands of the seller in the same transaction in
which the commodity passes into the hands of the buyer. Commodities
and money thus flow in opposite directions and this change of place
in which the commodity passes over to one side and money to the other
side, occurs simultaneously at an indefinitely large number of points
on the entire surface of bourgeois society. But the first step which
the commodity makes in the sphere of circulation is also its last
step.[72] Whether it leaves its place on account of its attraction
for gold (C―M), or on account of its attraction by gold (M―C), with
one move, with one change of place it falls out of the sphere of
circulation into that of consumption. Circulation is a continuous flow
of commodities, but different commodities all the time, since each
commodity makes but one move. Every commodity enters upon the second
phase of its circulation not as the same commodity, but as another
commodity, gold. Hence the movement of a metamorphosed commodity is the
movement of gold. The same piece of gold or the identical gold coin
which changed places with one commodity in the act C―M, reappears from
the opposite end as the starting point for M―C and thus changes places
for the second time with another commodity. Just as it passed from the
hands of buyer B into those of seller A, it now leaves A’s hands who
has become a buyer and passes into C’s hands. The path described by a
commodity in its transformation into money and its retransformation
from money, i. e., the movement of a complete metamorphosis of a
commodity assumes the aspect of an apparent movement of the same coin
that changes places twice with two different commodities. No matter in
how scattered and haphazard fashion purchases and sales may take place
near each other, there is always in actual circulation a seller for
each buyer and the money which moves into the place of the commodity
sold, before it came into the hands of the buyer, must have already
changed places with another commodity. Sooner or later it again leaves
the hands of the seller, who turns buyer, to pass into the hands of
a new seller and this frequently repeated change of place forms the
interlacing of the metamorphoses of commodities. The same coins are
moving, some more, others less frequently, from one place in the
sphere of circulation to another, always in the direction opposite to
that of the commodities moved, thus describing a longer or shorter
circulation-curve. The different movements of the same coin can follow
each other in point of time only, and on the contrary, the many
scattered purchases and sales which appear as so many separate changes
of place between commodities and money, occur simultaneously separated
only in point of space.
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