Capitalism; Imperialism; Saving and investment; Socialism
'Thus it is proved on a strictly logical development of the ideas held
by bourgeois economists that the destiny of the commodity surplus on the
market and that of capitalist profit is identical. This circumstance
justifies the conclusion that both phenomena are interdependent, that
the existence of one is a condition of the other, and indeed, so long as
there is no profit, there is no commodity surplus.... It is different if
the profit comes into being inside the country. Such profit is not
originally related to production; it is a phenomenon which is connected
with the latter not by technical and natural conditions but by an
extraneous social form. Production requires for its continuation ...
only material, tools, and means of subsistence for the workers,
therefore as such it consumes only the corresponding part of the
products: other consumers must be found for the surplus which makes up
the profit, and for which there is no room in the permanent structure of
industrial life, in production--consumers, namely, who are not
organically connected with production, who are fortuitous to a certain
extent. The necessary number of such consumers may or may not be
forthcoming, and in the latter case there will be a commodity surplus on
the market.'[284]
Well content with the 'simple' enlightenment, by which he has turned the
surplus product into an invention of capital and the capitalist into a
'fortuitous' consumer who is 'not organically connected with capitalist
production', Vorontsov now turns to the crises. On the basis of Marx's
'logical' theory of the value of labour which he claims to 'employ' in
his later works, he expounds them as an immediate result of the surplus
value, as follows:
'If the working part of the population consumes what enters into the
costs of production in form of the wages for labour, the capitalists
themselves must destroy [literally so--R. L.] the surplus value,
excepting that part of it which the market requires for expansion. If
the capitalists are in a position to do so and act accordingly, there
can be no commodity surplus; if not, over-production, industrial crises,
displacement of the workers from the factories and other evils will
result.'
According to Vorontsov, however, it is '_the inadequate elasticity of
the human organism_ which cannot enlarge its capacity to consume as
rapidly as the surplus value is increasing', which is in the end
responsible for these evils. He repeatedly expresses this ingenious
thought as follows: 'The Achilles heel of capitalist industrial
organisation thus lies in the incapacity of the entrepreneurs to consume
the whole of their income.'
Public-domain text, read in full here on John Shaqi.
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