Capitalism; Imperialism; Saving and investment; Socialism
If, by way of answer, we are referred to the process of hoarding
attendant upon the gradual renewal of the constant capital by the
individual capitalists at various times, the connection between these
two points remains obscure. As long as B, B´ and B´´, etc., buy producer
goods from their colleagues A, A´ and A´´ in order to renew their
constant capital that has in fact been used up, the limits of simple
reproduction are not transcended, and the whole thing has nothing to do
with our problem. The moment the producer goods purchased by B, B´, B´´,
etc., serve to increase their constant capital, however, for purposes of
accumulation, a number of new questions clamour for attention. First and
foremost where do the B's get the cash to buy an additional product from
the A's? The only way they could have made their money is by sale of
their own surplus product. Before they can acquire new means of
production for expanding their enterprises, before they appear as
buyers, that is to say, of the surplus product that is to be
accumulated, they must first have disposed of their own surplus
product--in a word, B, B´, B´´, etc., must have been vendors themselves.
But who could have bought their surplus product? It is obvious that the
difficulty is simply shifted from the A's to the B's without having been
mastered.
At one stage of the analysis it really does seem for a time as if a
solution were found at last. After a short digression, Marx returns to
the main line of his investigation in the following words:
Public-domain text, read in full here on John Shaqi.
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