Capitalism; Imperialism; Saving and investment; Socialism
In comparison, the similarities and the profound discrepancies between
Marx's diagram of reproduction and Quesnay's _Tableau Économique_ strike
us at once. These two diagrams, the beginning and end of the period of
classical economics, are the only attempts to describe an apparent chaos
in precise terms, a chaos created by the interrelated movements of
capitalist production and consumption, and by the disparity of
innumerable private producers and consumers. Both writers reduce this
chaotic jumble of individual capitals to a few broadly conceived rules
which serve, as it were, as moorings for the development of capitalist
society, in spite of its chaos. They both achieve a synthesis between
the two aspects which are the basis of the whole movement of social
capital: that circulation is at one and the same time a capitalist
process of producing and appropriating surplus value, and also a social
process of producing and consuming material goods necessary to civilised
human existence. Both show the circulation of commodities to act as a
mediator for the social process as a whole, and both conceive of the
circulation of money as a subsidiary phenomenon, an external and
superficial expression of the various stages within the circulation of
commodities.
It is socially necessary labour which creates value. This inspired
fundamental law of Marx's theory of value which provided the solution of
the money problem, amongst others, further led him first to distinguish
and then to integrate those two aspects in the total reproductive
process: the aspect of value and that of actual material connections.
Secondly, Marx's diagram is based upon the precise distinction between
constant and variable capital which alone reveals the internal
mechanisms of the production of surplus value and brings it, as a
value-relationship, into precise relation with the two material
categories of production: that of producer and consumer goods.
Public-domain text, read in full here on John Shaqi.
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