Capitalism; Imperialism; Saving and investment; Socialism
Department I's efforts to accumulate by selling its additional product
to Department II have met with an unlooked-for result: a deficit for the
capitalists of Department II serious enough to prevent even simple
reproduction on the old scale.
Having got to this crucial point, Marx seeks to lay bare the root of the
problem by a careful and detailed exposition:
'Let us now take a closer look at the accumulation in Department II. The
first difficulty with reference to II_c_, that is to say the conversion
of an element of the commodity-capital of II into the natural form of
constant capital of II, concerns simple reproduction. Let us take the
formula previously used. (_1,000v + 1,000s_) I are exchanged for 2,000
II_c_. Now, if one half of the surplus-product of I, or 500_s_, is
reincorporated in Department I as constant capital, then this portion,
being detained in Department I, cannot take the place of any portion of
II_c_. Instead of being converted into articles of consumption, it is
made to serve as an additional means of production in Department I
itself.... It cannot perform this function simultaneously in I and II.
The capitalist cannot spend the value of his surplus-product for
articles of consumption, and at the same time consume the
surplus-product itself productively, by incorporating it in his
productive capital. Instead of 2,000 I(_v + s_), only 1,500 are
exchangeable for 2,000 II_c_, namely _1,000v + 500s_ of I. But 500 I_c_
cannot, be reconverted from the form of commodities into productive
constant capital of II.'[124]
Public-domain text, read in full here on John Shaqi.
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