A Contribution to the Critique of Political EconomyMarx, Karl
Philosophy
A Contribution to the Critique of Political Economy
Marx, Karl
Economics; Marxian economics
The contrary may happen in the process M―C, where the money can be
alienated as a real means of purchase, and in that way the price of the
commodity can be realized before the use-value of the money is realized
and the commodity actually delivered. This occurs constantly under
the everyday form of pre-payments. And it is under this form that the
English government purchases opium from the ryots of India, or, foreign
merchants residing in Russia mostly buy agricultural products. In these
cases, however, the money always acts in its well known role of a means
of purchase and therefore, does not assume any new forms.[103] We need
not dwell, therefore, on this case any longer; but with reference to
the changed form which the two processes M―C and C―M assume now, we
may note that the difference between purchase and sale which appeared
but imaginary in the direct process of circulation, now becomes a real
difference, since in the former case only the money is present and in
the latter only the commodity, and in either case only that extreme is
present from which the initiative comes. Besides, the two forms have
this in common: that in either, one of the equivalents is present only
in the common will of the buyer and seller,―a will that is binding on
both and assumes definite legal forms.
Seller and buyer become creditor and debtor. While the commodity
owner looked comical as the guardian of a treasure, he now becomes
awe-inspiring, since he no longer identifies himself but his neighbor
with a certain sum of money and makes him and not himself a martyr of
exchange value. From a believer he becomes a creditor, for religion he
substitutes law.
“I stay here on my bond!”
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account