Capitalism; Imperialism; Saving and investment; Socialism
'To the extent that the products created by B, B´, B´´, etc., (I)
re-enter in their natural form into their own process, it goes without
saying that a corresponding portion of their own surplus-product is
transferred directly (without any intervention of circulation) to their
productive capital and becomes an element of additional constant
capital. To the same extent they do not help to convert any
surplus-product of A, A´, A´´ etc., (I) into money. Aside from this,
where does the money come from? We know that they have formed their
hoard in the same way as A, A´, etc., by the sale of their respective
surplus-products. Now they have arrived at the point where their
accumulated hoard of virtual money-capital is to enter effectually upon
its function as additional money-capital. But this is merely turning
around in a circle. The question still remains: Where does the money
come from, which the various B's (I) withdrew from the circulation and
accumulated?'[120]
His prompt reply again seems surprisingly simple: 'Now we know from the
analysis of simple reproduction, that the capitalists of I and II must
have a certain amount of ready money in their hands, in order to be able
to dispose of their surplus-products. In that case, the money which
served only for the spending of revenue in articles of consumption
returned to the capitalists in the same measure in which they advanced
it for the purpose of disposing of their commodities. Here the same
money reappears, but in a different function. The A's and B's supply one
another alternately with the money for converting their surplus-product
into virtual additional capital, and throw the newly formed
money-capital alternately into circulation as a medium of
purchase.'[121]
Public-domain text, read in full here on John Shaqi.
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