Capitalism; Imperialism; Saving and investment; Socialism
It is not quite clear how this can help us over the hurdle, help to get
accumulation going. For one thing, the formation of additional variable
capital in Department II is not much use if we have no additional
constant capital for this department, being in fact engaged on the task
of finding it. For another thing, our present concern is to see if we
can find in Department II a source of money for the purchase of
additional means of production from I, and Department II's problem how
to place its own additional product in some way or other in the process
of production is beside the point. Further, is the implication that the
respective consumer goods should be used 'direct', i.e. without the
mediation of money, in the production of Department II, so that the
corresponding amount of money can be diverted from variable capital to
the purpose of accumulation? If so, we could not accept the solution.
Under normal conditions of capitalist production, the remuneration of
the workers by consumer goods direct is precluded, one of the
corner-stones of capitalist economy being the money-form of the variable
capital, the independent transaction between the worker as buyer of
commodities and producer of consumer goods. Marx himself stresses this
point in another context:
'We know that the actual variable capital consists of labour-power, and
therefore the additional must consist of the same thing. It is not the
capitalist of I who among other things buys from II a supply of
necessities of life for his labourers, or accumulates them for this
purpose, as the slave holder had to do. It is the labourers themselves
who trade with II.'[131]
And that goes for the capitalists of Department II just as much as for
those of Department I, thus disposing of Marx's last effort.
Marx ends up by referring us to the last part of _Capital_, volume ii,
chapter 21, the 'Concluding Remarks _sub iv_', as Engels has called
them. Here we find the curt explanation:
'The original source for the money of II is _v + s_ of the gold
producers in Department I, exchanged for a portion of II_c_. Only to the
extent that the gold producer accumulates surplus-value or converts it
into means of production of I, in other words, to the extent that he
expands his production, does his _v + s_ stay out of Department II. On
the other hand, to the extent that the accumulation of gold on the part
of the gold producer himself leads ultimately to an expansion of
production, a portion of the surplus-value of gold production not spent
as revenue passes into Department II as additional variable capital of
the gold producers, promotes the accumulation of new hoards in II and
supplies it with means by which to buy from I without having to sell to
it immediately.'[132]
Public-domain text, read in full here on John Shaqi.
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