Capitalism; Imperialism; Saving and investment; Socialism
With the advance of civilisation, there are changes not only in the form
of the means of production but also in the quantity of value they
represent--or better, changes in the social labour stored up in them.
Apart from the labour necessary for its immediate preservation, society
has increasingly more labour time and labour power to spare, and it
makes use of these for the manufacture of means of production on an ever
increasing scale. How does this affect the process of reproduction? How,
in terms of capitalism, does society create out of its annual labour a
_greater_ amount of capital than it formerly possessed? This question
touches upon enlarged reproduction, and it is not yet time to deal with
it.
FOOTNOTES:
[84] For the sake of simplicity, we shall follow general usage and speak
here and in the following of annual production, though this term,
strictly speaking, applies in general to agriculture only. The periods
of industrial production, or of the turnover of capitals, need not
coincide with calendar years.
[85] The distinction between intellectual and material labour need not
involve special categories of the population in a planned society, based
on common ownership of the means of production. It will always find
expression in the existence of a certain number of spiritual leaders who
must be materially maintained. The same individuals may exercise these
various functions at different times.
[86] _Capital_, vol. ii, p. 459.
[87] _Capital_, vol. ii, pp. 544-7. Cf. also p. 202 on the necessity of
enlarged reproduction under the aspect of a reserve fund.
[88] Marx's italics.
[89] _Theorien über den Mehrwert_, vol. ii, part 2, p. 248.
_CHAPTER V_
THE CIRCULATION OF MONEY
In our study of the reproductive process we have not so far considered
the circulation of money. Here we do not refer to money as a measuring
rod, an embodiment of value, because all relations of social labour have
been expressed, assumed and measured in terms of money. What we have to
do now is to test our diagram of simple reproduction under the aspect of
money as a means of exchange.
Quesnay already saw that we shall only understand the social
reproductive process if we assume, side by side with the means of
production and consumer goods, a certain quantity of money.[90]
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