Capitalism; Imperialism; Saving and investment; Socialism
'This continually repeated departure from and return to the starting
point, the pocket of the capitalist, does not add in any way to the
money moving in this cycle. This, then, is not a source of the
accumulation of money.'[127]
Marx then considers all conceivable dodges, only to show them up as
evading the issue.
'But stop!' he exclaims. 'Isn't there a chance to make a little
profit?'[127]
He considers whether the capitalists could not manage to save a little
of the variable capital by depressing the wages of the workers below the
normal average and thus to tap a new source of money for accumulation. A
mere flick of his fingers, of course, disposes of this notion:
'But it must not be forgotten that the wages actually paid (which
determine the magnitude of the variable capital under normal conditions)
do not depend on the benevolence of the capitalists, but must be paid
under certain conditions. This does away with this expedient as a source
of additional money.'[127]
He even explores what hidden methods there may be of 'saving' on the
variable capital, such as the truck system, frauds, etc., only to
comment finally: 'This is the same operation as under (1), only
disguised and carried out by a detour. Therefore it must likewise be
rejected as an explanation of the present problem.'[128]
All efforts to make the variable capital yield a new source of money for
the purpose of accumulation are thus unrewarded: 'In short, we cannot
accomplish anything with 376 II_v_ for the solution of this
question.'[128]
Marx next turns to the cash reserves which the capitalists in Department
II keep for the circulation of their own consumption and investigates
whether none of this money can be diverted to the purposes of
capitalisation. Yet this, he allows, is 'still more impossible'.
'Here the capitalists of the same department are standing face to face,
heavily buying and selling their articles of consumption. The money
required for these transactions serves only as a medium of circulation
and must flow back to the interested parties in the normal course of
things, to the extent that they have advanced it to the circulation, in
order to pass again and again over the same course.'[129]
The next attempt to follow belongs, as was to have been expected, to the
category of those 'subterfuges' which Marx ruthlessly refutes: the
attempt to explain that money-capital can be formed in the hands of one
capitalist group in Department II by defrauding the other capitalists
within the same department--viz. in the process of the mutual selling of
consumer goods. No time need be wasted on this little effort.
Then comes a more sober proposition: 'Or, a certain portion of II_s_,
represented by necessities of life, might be directly converted into new
variable capital of Department II.'[130]
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account