Capitalism; Imperialism; Saving and investment; Socialism
A superficial glance suffices to show that capitalist reproduction as a
social whole must not be regarded simply as a mechanical summation of
all the separate processes of individual capitalist reproduction. We
have seen, for instance, that one of the fundamental conditions for
enlarged reproduction by an individual capitalist is a corresponding
increase of his opportunities to sell on the commodity market. But the
individual capitalist may not always expand because of an absolute
increase in the absorptive capacity of the market, but also as a result
of the competitive struggle, at the cost of other individual
capitalists. Thus one capitalist may win what another or many others who
have been shouldered from the market must write off as a loss. This
process will enable one capitalist to increase his reproduction by the
amount that it compels others by losses to restrict their own. One
capitalist will be able to engage in enlarged reproduction because
others cannot even achieve simple reproduction. In the same way, one
capitalist may enlarge his reproduction by using labour power and means
of production which another's bankruptcy, that is his partial or
complete retirement from reproduction, has set free.
These commonplaces prove that reproduction of the social capital as a
whole is not the same as the reproduction of the individual capitalist
raised to the _n_th degree. They show that the reproductive activities
of individual capitalists ceaselessly cut across one another and to a
greater or smaller degree may cancel each other out.
Therefore we must clarify our concept of reproduction of capital as a
whole, before we examine the laws and mechanisms of capitalist total
reproduction. We must raise the question whether it is even possible to
deduce anything like total reproduction from the disorderly jumble of
individual capitals in constant motion, changing from moment to moment
according to uncontrollable and incalculable laws, partly running a
parallel course, and partly intersecting and cancelling each other out.
Can one actually talk of total social capital of society as an entity,
and if so, what is the real meaning of this concept? That is the first
question a scientific examination of the laws of reproduction has to
consider. At the dawn of economic theory and bourgeois economics,
Quesnay, the father of the Physiocrats, approached the problem with
classical fearlessness and simplicity and took it for granted that total
capital exists as a real and active entity. In his famous _Tableau
Économique_, so intricate that no one before Marx could understand it,
Quesnay demonstrated the phases of the reproduction of aggregate capital
with a few figures, at the same time taking into account that it must
also be considered from the aspect of commodity exchange, that is as a
process of circulation.[60]
Public-domain text, read in full here on John Shaqi.
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