Capitalism; Imperialism; Saving and investment; Socialism
This parting shot, by the way, is particularly noteworthy in that Marx
here expressly repudiates the attempt to explain realisation of the
surplus value, even in the case of simple reproduction, by means of a
hoard formed for the periodical renewal of fixed capital. Later on, with
a view to realising the surplus value under the much more difficult
conditions of accumulation, he makes more than one tentative effort to
substantiate an explanation of this type which he himself dismissed as a
'plausible subterfuge'.
Then follows a solution which has a somewhat disconcerting ring: 'The
general reply has already been given: When a mass of commodities valued
at _x_ times 1,000 p.st. has to circulate, it changes absolutely nothing
in the quantity of the money required for this circulation, whether this
mass of commodities contains any surplus-value or not, and whether this
mass of commodities has been produced capitalistically or not. In other
words, _the problem itself does not exist_. All other conditions being
given, such as velocity of circulation of money, etc., a definite sum of
money is required in order to circulate the value of commodities worth
_x_ times 1,000 p.st., quite independently of the fact how much or how
little of this value falls to the share of the direct producers of
these commodities. So far as any problem exists here, it coincides with
the general problem: Where does all the money required for the
circulation of the commodities of a certain country come from?'[137]
The argument is quite sound. The answer to the general question about
the origin of the money for putting a certain quantity of commodities
into circulation within a country will also tell us where the money for
circulating the surplus value comes from. The division of the bulk of
value contained in these commodities into constant and variable capital,
and surplus value, does not exist from the angle of the circulation of
money--in this connection, it is quite meaningless. But it is only from
the angle of the circulation of money, or of a simple commodity
circulation, that the problem has no existence. Under the aspect of
social reproduction as a whole, it is very real indeed; but it should
not, of course, be put in that misleading form that brings us back to
simple commodity circulation, where it has no meaning. We should not
ask, accordingly: Where does the money required for realising the
surplus value come from? but: Where are the consumers for this surplus
value? It is they, for sure, who must have this money in hand in order
to throw it into circulation. Thus, Marx himself, although he just now
denied the problem to exist, keeps coming back to it time and again:
Public-domain text, read in full here on John Shaqi.
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