Capitalism; Imperialism; Saving and investment; Socialism
[91] Marx (_Capital_, vol. ii, p. 482) takes the money spent directly by
the capitalists of Department II as the starting point of this act of
exchange. As Engels rightly says in his footnote, this does not affect
the final result of circulation, but the assumption is not the correct
condition of circulation within society. Marx himself has given a better
exposition in _Capital_, vol. ii, pp. 461-2.
[92] _Capital_, vol. ii, p. 548.
[93] _Capital_, vol. ii, p. 550.
[94] Ibid., p. 551.
[95] Ibid., p. 572.
_CHAPTER VI_
ENLARGED REPRODUCTION
The shortcomings of the diagram of simple reproduction are obvious: it
explains the laws of a form of reproduction which is possible only as an
occasional exception in a capitalist economy. It is not simple but
enlarged reproduction which is the rule in every capitalist economic
system, even more so than in any other.[96]
Nevertheless, this diagram is of real scientific importance in two
respects. In practice, even under conditions of enlarged reproduction,
the greater part of the social product can be looked on as simple
reproduction, which forms the broad basis upon which production in every
case expands beyond its former limits. In theory, the analysis of simple
reproduction also provides the necessary starting point for all
scientific exposition of enlarged reproduction. The diagram of simple
reproduction of the aggregate social capital therefore inevitably
introduces the further problem of the enlarged reproduction of the total
capital.
We already know the historical peculiarity of enlarged reproduction on a
capitalist basis. It must represent itself as accumulation of capital,
which is both its specific form and its specific condition. That is to
say, social production as a whole--which on a capitalist basis is the
production of surplus value--can in every case be expanded only in so
far as the social capital that has been previously active is now
augmented by surplus value of its own creation. This use of part of the
surplus value (and in particular the use of an increasing part of it)
for the purpose of production instead of personal consumption by the
capitalist class, or else the increase of reserves, is the basis of
enlarged reproduction under capitalist conditions of production.
The characteristic feature of enlarged reproduction of the aggregate
social capital--just as in our previous assumption of simple
reproduction--is the reproduction of individual capitals, since
production as a whole, whether regarded as simple or as enlarged
production, can in fact only occur in the form of innumerable
independent movements of reproduction performed by private individual
capitals.
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