Capitalism; Imperialism; Saving and investment; Socialism
[221] Marx, in his history of the opposition to Ricardo's school and its
dissolution, makes only brief mention of Sismondi, explaining: 'I leave
Sismondi out of this historical account, because the criticism of his
views belongs to a part with which I can deal only after this treatise,
the actual movement of capital (competition and credit)' (_Theorien über
den Mehrwert_, vol. iii, p. 52). Later on, however, in connection with
Malthus, he also deals with Sismondi in a passage that, on the whole, is
comprehensive: 'Sismondi is profoundly aware of the self-contradiction
of capitalist production; he feels that its forms, its productive
conditions, spur on an untrammelled development of the productive forces
and of wealth on the one hand, yet that these conditions, on the other,
are only relative; that their contradictions of value-in-use and
value-in-exchange, of commodity and money, of sale and purchase, of
production and consumption, of capital and wage-labour, and so on, take
on ever larger dimensions, along with the forward strides of the
productive forces. In particular, he feels the fundamental conflict:
here the untrammelled development of productive power and of a wealth
which, at the same time, consists in commodities, must be monetised; and
there the basis--restriction of the mass of producers to the necessary
means of subsistence. He therefore does not, like Ricardo, conceive of
the crises as merely incidental, but as essential, as eruptions of the
immanent conflicts on ever grander scale and at determinate periods.
Which faces him with the dilemma: is the state to put restrictions on
the _productive forces_ to adapt them to the productive conditions, or
upon the _productive conditions_ to adapt them to the _productive
forces_? Frequently he has recourse to the past, becomes _laudator
temporis acti_, and seeks to master the contradictions by a different
regulation of income relative to capital, or of distribution relative to
production, quite failing to grasp that the relations of distribution
are nothing but the relations of production _sub alia specie_. He has a
perfect picture of the contradictions immanent in bourgeois production,
yet he does not understand them, and therefore fails also to understand
the process of their disintegration. (And indeed, how could he, seeing
this production was still in the making?--R.L.) And yet, his view is in
fact grounded in the premonition that _new_ forms of appropriating
wealth must answer to the productive forces, developed in the womb of
capitalist production, to the material and social conditions of creating
this wealth; that the bourgeois forms of appropriation are but
transitory and contradictory, wealth existing always with contrary
aspects and presenting itself at once as its opposite. Wealth is ever
based on the premises of poverty, and can develop only by developing
poverty' (ibid., p. 55).
Public-domain text, read in full here on John Shaqi.
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