Capitalism; Imperialism; Saving and investment; Socialism
Here, a surplus value of 570_s_ can be capitalised because from the very
outset it consists in means of production. To this quantity of producer
goods there correspond besides additional consumer goods to the amount
of 114_s_ so that 684_s_ can be capitalised in all. But the process here
assumed of simply transferring means of production to constant capital
on the one hand, consumer goods to variable capital on the other, in
commensurate quantities, is in contradiction with the very structure of
capitalist commodity production. Whatever natural form the surplus value
may have, there can be no immediate transfer to the place of production
for the purpose of accumulation. It must first be realised, it must be
turned into hard cash.[111]
Of the surplus value in Department I, 500 are fit to be capitalised, but
not until they have first been realised; the surplus value has to shed
its natural form and assume the form of pure value before it can be
added to productive capital. This is true for each individual capitalist
and also for the 'aggregate capitalist' of society, it being a prime
condition for capitalist production that the surplus value must be
realised in the form of pure value. Accordingly, regarding reproduction
from the point of view of society as a whole--
'We must not follow the manner copied by Proudhon from bourgeois
economy, which looks upon this matter as though a society with a
capitalist mode of production would lose its specific historical and
economic characteristics by being taken as a unit. Not at all. We have,
in that case, to deal with the aggregate capitalist.'[112]
The surplus value must therefore shed its form as surplus product before
it can re-assume it for the purpose of accumulation; by some means or
other it must first pass through the money stage. So the surplus product
of Departments I and II must be bought--by whom? On the above showing,
there will have to be an effective demand outside I and II, merely in
order to realise the surplus value of the two departments, just so that
the surplus product can be turned to cash. Even then, we should only
have got to the stage where the surplus value has become money. If this
realised surplus value is further to be employed in the process of
enlarging reproduction, in accumulation, an even larger demand must be
expected for the future, a demand which is again to come from
outside the two departments. Either the demand for the surplus
product will therefore have to increase annually in accordance
with the rate of increase of the accumulated surplus value, or--_vice
versa_--accumulation can only proceed precisely in so far as the demand
outside I and II is rising.
FOOTNOTES:
[103] _Capital_, vol. ii, pp. 598-9.
[104] Ibid., p. 599.
[105] _Capital_, vol. ii, pp. 600-1.
[106] Surplus consumption.
[107] _Capital_, vol. ii, p. 429.
[108] Ibid., pp. 531-2.
[109] Op. cit., vol. i, p. 594, note 1.
[110] Ibid., p. 594.
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