Capitalism; Imperialism; Saving and investment; Socialism
to-day, part of the engine to-morrow, and a section of sleepers the day
after. On our assumption then, the old railway is replaced by a new one
after thirty years, a similar amount of labour being performed each year
by the society so that simple reproduction takes place. But the railway
can only be reproduced in this manner--it cannot be so produced. In
order to make it fit for use and to make good its gradual wear and tear,
the railway must have been completed in the first place. Though the
railway can be repaired in parts, it cannot be made fit for use
piecemeal, an axle to-day and a coach to-morrow. Indeed, the very
essence of fixed capital is always to enter into the productive process
in its entirety, as a material use-value. In order to get this use-form
ready in the first place, society must apply a more concentrated amount
of labour to its manufacture. In terms of our example, the labour of
thirty years that is used for repairs, must be compressed into, say, two
or three years. During this period of manufacture, society must
therefore expend an amount of labour far greater than the average, that
is to say it must have recourse to expanding reproduction; later, when
the railway is finished, it may return to simple reproduction. Though we
need not visualise the aggregate fixed capital as a single coherent
use-object or a conglomeration of objects which must be produced all at
once, the manufacture of all the more important means of production,
such as buildings, transport facilities, and agricultural structures,
requires a more concentrated application of labour, and this is true for
the modern railway or steamship as much as it was for the rough
stone-axe and the handmill. Therefore it is only in theory that simple
reproduction can be conceived as alternating with enlarged reproduction;
the latter is not only a general condition of a progressive civilisation
and an expanding population, but also the _sine qua non_ for the
economic form of fixed capital, or those means of production which in
every society correspond to the fixed capital.
Marx deals with this conflict between the formation of fixed capital and
simple reproduction but indirectly, in connection with fluctuations in
the wear and tear of the fixed capital, more rapid in some years than in
others. Here he emphasises the need for perpetual 'over-production',
i.e. enlarged reproduction, since a strict policy of simple reproduction
would periodically lead to reproductive losses. In short, he regards
enlarged reproduction under the aspect of an insurance fund for the
fixed capital of the society, rather than in the light of the actual
productive process.[87]
Public-domain text, read in full here on John Shaqi.
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