Capitalism; Imperialism; Saving and investment; Socialism
process of circulation as well as of reproduction.
Thus the fact is clear and unequivocal--so long as we remain within the
bounds of simple reproduction. Here the problem is solved by the
premises themselves; in fact, the solution is already anticipated by
the very concept of simple reproduction which indeed is based on the
entire surplus value being consumed by the capitalist class. This
implies that it must also be the latter who buy it, that is to say,
individual capitalists must buy it from each other.
'In the present case', Marx says himself, 'we had assumed, that the sum
of money which the capitalist throws into circulation until the first
surplus-value flows back to him, is exactly equal to the surplus-value
which he is going to produce and monetise. This is obviously an
arbitrary assumption, so far as, the individual capitalist is concerned.
But it must be correct when applied to the entire capitalist class, when
simple reproduction is assumed. It expresses the same thing that this
assumption does, namely, that the entire surplus-value is consumed
unproductively, but it only, not any portion of the original capital
stock.'[140]
But simple reproduction on a capitalist basis is after all an imaginary
quantity in economic theory: no more and no less legitimate, and quite
as unavoidable as [sqrt](-1) in mathematics. What is worse, it cannot
offer any help at all with the problem of realising the surplus value in
real life, i.e. with regard to enlarged reproduction or accumulation.
Marx himself says so for a second time in the further development of his
analysis.
Where does the money for realising the surplus value come from if there
is accumulation, i.e. not consumption but capitalisation of part of the
surplus value? Marx's first answer is as follows:
'In the first place, the additional money-capital required for the
function of the increasing productive capital is supplied by that
portion of the realised surplus-value which is thrown into circulation
by the capitalists as money-capital, not as the money form of their
revenue. The money is already present in the hands of the capitalists.
Only its employment is different.'[141]
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