Capitalism; Imperialism; Saving and investment; Socialism
The first enlargement of reproduction gave the following picture:
I. _4,400c + 1,100v + 1,100s = 6,600_
II. _1,600c + 800v + 800s = 3,200_
-----
Total: 9,800
This already clearly expresses the interdependence of the two
departments--but it is a dependence of a peculiar kind. Accumulation
here originates in Department I, and Department II merely follows suit.
Thus it is Department I alone that determines the volume of
accumulation. Marx effects accumulation here by allowing Department I to
capitalise one-half of its surplus value; Department II, however, may
capitalise only as much as is necessary to assure the production and
accumulation of Department I. He makes the capitalists of Department II
consume 600_s_ as against the consumption of only 500_s_ by the
capitalists of Department I who have appropriated twice the amount of
value and far more surplus value. In the next year, he assumes the
capitalists of Department I again to capitalise half their surplus
value, this time making the capitalists of Department II capitalise more
than in the previous year--summarily fixing the amount to tally exactly
with the needs of Department I. 500_s_ now remain for the consumption of
the capitalists of Department II--less than the year before--surely a
rather queer result of accumulation on any showing. Marx now describes
the process as follows:
'Then let Department I continue accumulation at the same ratio, so that
550_s_ are spent as revenue, and 55_s_ accumulated. In that case, 1,100
I_v_ are first replaced by 1,100 I_c_, and 550 I_s_ must be realised in
an equal amount of commodities of II, making a total of 1,650 I(_v +
s_). But the constant capital of II, which is to be replaced, amounts
only to 1,600, and the remaining 50 must be made up out of 800 II_s_.
Leaving aside the money aspect of the matter, we have as a result of
this transaction:
'I. _4,400c + 550s_ (to be capitalised); furthermore, realised in
commodities of II for the fund for consumption of the capitalists and
labourers of I, 1,650 (_v + s_).
'II. _1,650c + 825v + 725s_.
Public-domain text, read in full here on John Shaqi.
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