Capitalism; Imperialism; Saving and investment; Socialism
circulation as a whole: once the process of circulation is concluded,
money will always have returned to its point of origin. Thus all
capitalists, after universal exchange, have achieved a twofold result:
first they have exchanged products which, in their natural form, were of
no use to them, against other products which, in their natural form, the
capitalists require either as means of production or for their own
consumption. Secondly, they have regained possession of the money which
they set in circulation so as to effect these acts of exchange.
This phenomenon is unintelligible from the point of view of simple
commodity circulation, where commodity and money continually change
places--possession of the commodity excluding the possession of money,
as money constantly usurps the place which the commodity has given up,
and _vice versa_. Indeed, this is perfectly true with regard to every
individual act of commodity exchange which is the form of social
circulation. Yet this social circulation itself is more than mere
exchange of commodities: it is the circulation of capital. It is,
however, an essential and characteristic feature of this kind of
circulation, that it does not only return to the capitalist the value of
his original capital plus an increase, the surplus value, but that it
also assists social reproduction by providing the means of production
and labour power in the natural form of productive capital, and by
ensuring the maintenance of those who do not work. Possessing both the
means of production and the money needed, the capitalists start the
total social process of circulation; as soon as the social capital has
completed its circuit, everything is again in their hands, apportioned
to each department according to the investments made by it. The workers
have only temporary possession of money during which time they convert
the variable capital from its money form into its natural form. The
variable capital in the capitalists' hands is nothing but the outward
shape of part of their capital, and for this reason it must always
revert to them.
Public-domain text, read in full here on John Shaqi.
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