karl marx capital volume 2
Capital; Vol. 02
Karl Marx
Karl Marx
Capital, Vol. 02
Written: by Marx 1863 - 1878 and edited for publication by Engels in 1885;
Published: this revised second edition in 1893;
Source: Progress Publishers, Moscow 1956, translated by I. Lasker;
Table of Contents
1885 Preface (Frederick Engels)
1893 Preface to the Second Edition (Frederick Engels)
Book II: The Process of Circulation of Capital
Chapter 1: The Circuit of Money-Capital
1. First Stage. M-C
2. Second Stage. Function of Productive Capital
3. Third Stage. C'-M'
4. The Circuit as a Whole
Chapter 2: The Circuit of Productive Capital
1. Simple Reproduction
2. Accumulation and Reproduction on an Extended Scale
3. Accumulation of Money
4. Reserve Fund
Chapter 3: The Circuit of Commodity-Capital
Chapter 4: The Three Formulas of the Circuit
Natural, Money and Credit Economy
The Meeting of Demand and Supply
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Halaman 3
Chapter 5: The Time of Circulation
Chapter 6: The Costs of Circulation
1. Genuine Costs of Circulation
(a) The Time of Of Purchase and Sale
(b) Book-keeping
(c) Money
2. Costs of Storage
(a) Formation of Supply in General
(b) The Commodity-Supply Proper
3. Costs of Transportation
Chapter 7: The Turnover Time and Number of Turnovers
Chapter 8: Fixed Capital and Circulating Capital
1. Distinctions of Form
2. Components, Replacement, Repair and Accumulation of the Fixed
Capital
Chapter 9: The Aggregate Turnover of the Capital Advanced. Cycles
of Turnover
Chapter 10: Theories of Fixed and Circulating Capital
The Physiocrats and Adam Smith
Chapter 11: Theories of Fixed and Circulating Capital. Ricardo
Chapter 12: The Working Period
Chapter 13: The Time of Production
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Halaman 4
Chapter 14: The Time of Circulation
Chapter 15: Effect of Turnover Time on Magnitude of Advanced
Capital
1. The Working Period Equal to the Circulation Period
2. The Working Period Greater Than the Period of Circulation
3. The Working Period Smaller Than the Circulation Period
4. Conclusions
5. The Effect of Change of Prices
Chapter 16: The Turnover of Variable Capital
1. The Annual Rate of Surplus-Value
2. The Turnover of an Individual Variable Capital
3. The Turnover of Variable Capital from the Social Point of View
Chapter 17: The Circulation of Surplus-Value
1. Simple Reproduction
2. Accumulation and Reproduction on an Extended Scale
Chapter 18: Introduction
1. The Subject Investigated
2. The Role of Money-Capital
Chapter 19: Former Presentations of the Subject
1. The Physiocrats
2. Adam Smith
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Halaman 5
(a) Smith's General Points of View
(b) Adam Smith Resolves Exchange-Value into v+s
(c) The Constant Part of Capital
(d) Capital and Revenue in Adam Smith
(e) Recapitulation
3. Later Economists
Chapter 20: Simple Reproduction
1. The Formulation of the Question
2. The Two Departments of Social Production
3. Exchange Between the Two Departments: I(v+s) against IIc
4. Exchange Within Department II. Necessities of Life and Articles of
Luxury
5. The Mediation of the Exchange by the Circulation of Money
6. The Constant Capital in Department I
7. Variable Capital and Surplus-Value in Both Departments
8. The Constant Capital in Both Departments
9. A Retrospect to Adam Smith, Storch and Ramsay
10. Capital and Revenue: Variable Capital and Wages
11. Replacement of the Fixed Capital
(a) Replacement of the Wear and Tear Portion of the Value in the Form of Money
(b) Replacement of Fixed Capital in Kind
(c) Results
12. The Reproduction of the Money Material
13. Destutt de Tracy's Theory of Reproduction
Chapter 21: Accumulation and Reproduction on an Expanded Scale
Capital, Vol. 02
Karl Marx
1. Accumulation in Department I
(a) The Formation of a Hoard
(b) The Additional Constant Capital
(c) The Additional Variable Capital
2. Accumulation in Department II
3. Schematic Presentation of Accumulation
(a) First Illustration
(b) Second Illustration
(c) Replacement of IIc, in Accumulation
4. Supplementary Remarks
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The circular movement [1] of capital takes place in three stages, which, according
to the presentation in Volume I, form the following series:
First stage: The capitalist appears as a buyer on the commodity- and the labourmarket; his money is transformed into commodities, or it goes through the
circulation act M — C.
Second Stage: Productive consumption of the purchased commodities by the
capitalist. He acts as a capitalist producer of commodities; his capital passes
through the process of production. The result is a commodity of more value than
that of the elements entering into its production.
Third Stage: The capitalist returns to the market as a seller; his commodities are
turned into money; or they pass through the circulation act C — M.
Hence the formula for the circuit of money-capital is: M — C ... P ... C' — M',
the dots indicating that the process of circulation is interrupted, and C' and M'
designating C and M increased by surplus-value.
The first and third stages were discussed in Book I only in so far as this was
necessary for the understanding of the second stage, the process of production of
capital. For this reason, the various forms which capital takes on in its different
stages, and which now assumes and now strips off in the repetition of its circuit,
were not considered. These forms are now the direct object of our study.
In order to conceive these forms in their pure state, one must first of all discard
all factors which have nothing to do with the changing or building of forms as
such. It is therefore taken for granted here not only that the commodities are sold
at their values but also that this takes place under the same conditions
throughout. Likewise disregarded therefore are any changes of value which
might occur during the movement in circuits.
I. First Stage. M — C [2]
M — C represents the conversion of a sum of money into a sum of commodities;
the purchaser transforms his money into commodities, the sellers transform their
commodities into money. What renders this act of the general circulation of
commodities simultaneously a functionally definite section in independent
circuit of some individual capital is primarily not the form of the act but its
material content, the specific use-character of the commodities which change
places with the money. These commodities are on the one hand means of
production, on the other labour-power, material and personal factors in the
production of commodities whose specific nature must of course correspond to
Capital, Vol. 02
Karl Marx
Halaman 8
the special kind of articles to be manufactured. If we call labour-power L, and
the means of production MP, then the sum of commodities to be bought, C, is
equal to L + MP, or more briefly C
Karl Marx
Karl Marx
Capital, Vol. 02
Written: by Marx 1863 - 1878 and edited for publication by Engels in 1885;
Published: this revised second edition in 1893;
Source: Progress Publishers, Moscow 1956, translated by I. Lasker;
Table of Contents
1885 Preface (Frederick Engels)
1893 Preface to the Second Edition (Frederick Engels)
Book II: The Process of Circulation of Capital
Chapter 1: The Circuit of Money-Capital
1. First Stage. M-C
2. Second Stage. Function of Productive Capital
3. Third Stage. C'-M'
4. The Circuit as a Whole
Chapter 2: The Circuit of Productive Capital
1. Simple Reproduction
2. Accumulation and Reproduction on an Extended Scale
3. Accumulation of Money
4. Reserve Fund
Chapter 3: The Circuit of Commodity-Capital
Chapter 4: The Three Formulas of the Circuit
Natural, Money and Credit Economy
The Meeting of Demand and Supply
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Karl Marx
Halaman 3
Chapter 5: The Time of Circulation
Chapter 6: The Costs of Circulation
1. Genuine Costs of Circulation
(a) The Time of Of Purchase and Sale
(b) Book-keeping
(c) Money
2. Costs of Storage
(a) Formation of Supply in General
(b) The Commodity-Supply Proper
3. Costs of Transportation
Chapter 7: The Turnover Time and Number of Turnovers
Chapter 8: Fixed Capital and Circulating Capital
1. Distinctions of Form
2. Components, Replacement, Repair and Accumulation of the Fixed
Capital
Chapter 9: The Aggregate Turnover of the Capital Advanced. Cycles
of Turnover
Chapter 10: Theories of Fixed and Circulating Capital
The Physiocrats and Adam Smith
Chapter 11: Theories of Fixed and Circulating Capital. Ricardo
Chapter 12: The Working Period
Chapter 13: The Time of Production
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Karl Marx
Halaman 4
Chapter 14: The Time of Circulation
Chapter 15: Effect of Turnover Time on Magnitude of Advanced
Capital
1. The Working Period Equal to the Circulation Period
2. The Working Period Greater Than the Period of Circulation
3. The Working Period Smaller Than the Circulation Period
4. Conclusions
5. The Effect of Change of Prices
Chapter 16: The Turnover of Variable Capital
1. The Annual Rate of Surplus-Value
2. The Turnover of an Individual Variable Capital
3. The Turnover of Variable Capital from the Social Point of View
Chapter 17: The Circulation of Surplus-Value
1. Simple Reproduction
2. Accumulation and Reproduction on an Extended Scale
Chapter 18: Introduction
1. The Subject Investigated
2. The Role of Money-Capital
Chapter 19: Former Presentations of the Subject
1. The Physiocrats
2. Adam Smith
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Halaman 5
(a) Smith's General Points of View
(b) Adam Smith Resolves Exchange-Value into v+s
(c) The Constant Part of Capital
(d) Capital and Revenue in Adam Smith
(e) Recapitulation
3. Later Economists
Chapter 20: Simple Reproduction
1. The Formulation of the Question
2. The Two Departments of Social Production
3. Exchange Between the Two Departments: I(v+s) against IIc
4. Exchange Within Department II. Necessities of Life and Articles of
Luxury
5. The Mediation of the Exchange by the Circulation of Money
6. The Constant Capital in Department I
7. Variable Capital and Surplus-Value in Both Departments
8. The Constant Capital in Both Departments
9. A Retrospect to Adam Smith, Storch and Ramsay
10. Capital and Revenue: Variable Capital and Wages
11. Replacement of the Fixed Capital
(a) Replacement of the Wear and Tear Portion of the Value in the Form of Money
(b) Replacement of Fixed Capital in Kind
(c) Results
12. The Reproduction of the Money Material
13. Destutt de Tracy's Theory of Reproduction
Chapter 21: Accumulation and Reproduction on an Expanded Scale
Capital, Vol. 02
Karl Marx
1. Accumulation in Department I
(a) The Formation of a Hoard
(b) The Additional Constant Capital
(c) The Additional Variable Capital
2. Accumulation in Department II
3. Schematic Presentation of Accumulation
(a) First Illustration
(b) Second Illustration
(c) Replacement of IIc, in Accumulation
4. Supplementary Remarks
Halaman 6
Capital, Vol. 02
Karl Marx
Halaman 7
The circular movement [1] of capital takes place in three stages, which, according
to the presentation in Volume I, form the following series:
First stage: The capitalist appears as a buyer on the commodity- and the labourmarket; his money is transformed into commodities, or it goes through the
circulation act M — C.
Second Stage: Productive consumption of the purchased commodities by the
capitalist. He acts as a capitalist producer of commodities; his capital passes
through the process of production. The result is a commodity of more value than
that of the elements entering into its production.
Third Stage: The capitalist returns to the market as a seller; his commodities are
turned into money; or they pass through the circulation act C — M.
Hence the formula for the circuit of money-capital is: M — C ... P ... C' — M',
the dots indicating that the process of circulation is interrupted, and C' and M'
designating C and M increased by surplus-value.
The first and third stages were discussed in Book I only in so far as this was
necessary for the understanding of the second stage, the process of production of
capital. For this reason, the various forms which capital takes on in its different
stages, and which now assumes and now strips off in the repetition of its circuit,
were not considered. These forms are now the direct object of our study.
In order to conceive these forms in their pure state, one must first of all discard
all factors which have nothing to do with the changing or building of forms as
such. It is therefore taken for granted here not only that the commodities are sold
at their values but also that this takes place under the same conditions
throughout. Likewise disregarded therefore are any changes of value which
might occur during the movement in circuits.
I. First Stage. M — C [2]
M — C represents the conversion of a sum of money into a sum of commodities;
the purchaser transforms his money into commodities, the sellers transform their
commodities into money. What renders this act of the general circulation of
commodities simultaneously a functionally definite section in independent
circuit of some individual capital is primarily not the form of the act but its
material content, the specific use-character of the commodities which change
places with the money. These commodities are on the one hand means of
production, on the other labour-power, material and personal factors in the
production of commodities whose specific nature must of course correspond to
Capital, Vol. 02
Karl Marx
Halaman 8
the special kind of articles to be manufactured. If we call labour-power L, and
the means of production MP, then the sum of commodities to be bought, C, is
equal to L + MP, or more briefly C