Capitalism; Imperialism; Saving and investment; Socialism
The point at issue was to begin with Russian capitalism and its
prospects, but this, of course, led further afield to the whole problem
of capitalist development. The example and the experiences of the West
were adduced as vital evidence in this debate.
One fact was of decisive importance for the theoretical content of the
discussion that followed: not only was Marx's analysis of capitalist
production as laid down in the first volume of _Capital_ already common
property of educated Russia, but the second volume, too, with its
analysis of the reproduction of capital as a whole had already been
published in 1885. This gave a fundamentally new twist to the
discussion. No more did the problem of crises obscure the real crux of
the problem: for the first time, the argument centred purely in the
reproduction of capital as a whole, in accumulation. Nor was the
analysis bogged any longer by an aimless fumbling for the concepts of
income and of individual and aggregate capital. Marx's diagram of social
reproduction had provided a firm foothold. Finally, the issue was no
longer between _laissez-faire_ and social reform, but between two
varieties of socialism. The petty-bourgeois and somewhat muddled
'populist' brand of Russian socialists stood for scepticism regarding
the possibility of capitalist development, much in the spirit of
Sismondi and, in part, of Rodbertus, though they themselves frequently
cited Marx as their authority. Optimism, on the other hand, was
represented by the Marxist school in Russia. Thus the setting of the
stage had been shifted completely.
Public-domain text, read in full here on John Shaqi.
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