Capitalism; Imperialism; Saving and investment; Socialism
And about the consumers of interest and ground rent as buyers, Marx
says: 'Now, if that portion of the surplus-value of commodities, which
the industrial capitalist yields in the form of ground rent or interest
to other shareholders in the surplus-value, cannot be in the long run
converted into money by the sale of the commodities, then there is an
end to the payment of rent and interest, and the landowners or
recipients of interest can no longer serve in the role of miraculous
interlopers, who convert aliquot portions of the annual reproduction
into money by spending their revenue. The same is true of the
expenditure of all so-called unproductive labourers, State officials,
physicians, lawyers, etc., and others who serve economists as an excuse
for explaining inexplicable things, in the role of the 'general
public'.[108]
Seeing that we cannot discover within capitalist society any buyers
whatever for the commodities in which the accumulated part of the
surplus value is embodied, only one thing is left: foreign trade. But
there are a great many objections to a method that conceives of foreign
trade as a convenient dumping ground for commodities which cannot be
found any proper place in the reproductive process. Recourse to foreign
trade really begs the question: the difficulties implicit in the
analysis are simply shifted--quite unresolved--from one country to
another. Yet if the analysis of the reproductive process actually
intends not any single capitalist country but the capitalist world
market, there can be no foreign trade: all countries are 'home'. This
point is made by Marx already in the first volume of _Capital_, in
connection with accumulation:
'We here take no account of export trade, by means of which a nation can
change articles of luxury either into means of production or means of
subsistence, and _vice versa_. In order to examine the object of our
investigation in its integrity, free from all disturbing subsidiary
circumstances, we must treat the whole world as one nation and assume
that capitalist production is everywhere established and has possessed
itself of every branch of industry.'[109]
The same difficulty presents itself if we consider the matter from yet
another aspect. In Marx's diagram of accumulation we assumed that the
portion of the social surplus value intended for accumulation exists
from the first in a natural form which demands it to be used for
capitalisation.
'In one word, surplus-value is convertible into capital solely because
the surplus-product, whose value it is, already comprises the material
elements of new capital.'[110]
In the figures of our diagram:
I. _5,000c + 1,000v + 1,000s = 7,000_ means of production
II. _1,430c + 285v + 285s = 2,000_ means of consumption
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