Capitalism; Imperialism; Saving and investment; Socialism
The formula _c + v + s_ thus applies to the aggregate of commodities
produced in a society under capitalism no less than to the value
composition of every individual commodity. It is, however, only the
value-composition for which this holds good--the analogy cannot be
carried further.
The formula is indeed perfectly exact if we regard the total product of
a capitalistically producing society as the output of one year's labour,
and wish to analyse it into its respective components. The quantity _c_
shows how much of the labour of former years has been taken over towards
the product of the present year in the form of means of production.
Quantities _v + s_ show the value components of the product created by
new labour during the last year only; the relation between _v_ and _s_
finally shows us how the annual labour programme of society is
apportioned to the two tasks of maintaining the workers and maintaining
those who do not work. This analysis remains valid and correct also with
regard to the reproduction of individual capital, no matter what may be
the material form of the product this capital has created. All three,
_c_, _v_, and _s_, appear alike to a capitalist of the machinery
industry in the form of machinery and its parts; to the owner of a music
hall they are represented by the charms of the dancers and the skill of
the acrobats. So long as the product is left undifferentiated, _c_, _v_,
and _s_ differ from one another only in so far as they are _aliquot_
components of value. This is quite sufficient for the reproduction of
individual capital, as such reproduction begins with the value-form of
capital, a certain amount of money that has been gained by the
realisation of the manufactured product. The formula _c + v + s_ then is
the given basis for the division of this amount of money; one part for
the purchase of the material means of production, a second part for the
purchase of labour power, and a third part--in the case of simple
reproduction assumed in the first instance--for the capitalist's
personal consumption. In the case of expanding reproduction part three
is further subdivided, only a fraction of it being devoted to the
capitalist's personal consumption, the remainder to increasing his
capital. In order to reproduce his capital actually, the capitalist
must, of course, turn again to the commodity market with the capital he
has divided in this manner, so that he can acquire the material
prerequisites of production such as raw materials, instruments, and so
on. It seems a matter of course to the individual capitalist as well as
to his scientific ideologist, the 'vulgar economist', that he should in
fact find there just those means of production and labour power he needs
for his business.
Public-domain text, read in full here on John Shaqi.
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