Marx and Engels Collected Works, Volume 36 : Karl Marx - Capital, Volume II

Marx/Engels Collected Works (MECW) is the largest collection of translations into English of the works of Karl Marx and Friedrich Engels. It contains all works published by Marx and Engels in their lifetimes and numerous unpublished manuscripts and letters. The Collected Works, which was translated by Richard Dixon and others, consists of 50 volumes. It was compiled and issued between 1975 and 2005 by Progress Publishers (Moscow) in collaboration with Lawrence and Wishart (London) and International Publishers (New York City). Politics,Marxism Contents 2 Preface 6 CAPITAL A CRITIQUE OF POLITICAL ECONOMY VOLUME II: BOOK TWO THE PROCESS OF CIRCULATION OF CAPITAL 10 F. Engels. Preface to the First German Edition 12 PART I THE METAMORPHOSES OF CAPITAL AND THEIR CIRCUITS 37 Chapter I. The Circuit of Money Capital 37 I. First Stage. M - C 38 II. Second Stage. Function of Productive Capital 46 III. Third Stage. C'-M 50 IV. The Circuit as a Whole . . . 60 Chapter II. The Circuit of Productive Capital 76 I. Simple Reproduction 77 II. Accumulation and Reproduction on an Extended Scale 90 III. Accumulation of Money 95 IV. Reserve Fund 97 Chapter III. The Circuit of Commodity Capital 98 Chapter IV. The Three Formulas of the Circuit 111 Natural, Money and Credit Economy 126 The Meeting of Demand and Supply 128 Chapter V. The Time of Circulation 131 Chapter VI. The Costs of Circulation 139 I. Genuine Costs of Circulation 139 1. The Time of Purchase and Sale 139 2. Bookkeeping 143 3. Money 145 II. Costs of Storage 146 1. Formation of Supply in General 147 2. The Commodity Supply Proper 153 III. Costs of Transportation 158 PART II THE TURNOVER OF CAPITAL 162 Chapter VII. The Turnover Time and the Number of Turnovers 162 Chapter VIII. Fixed Capital and Circulating Capital 165 I. Distinctions of Form 165 II. Components, Replacement, Repair, and Accumulation of Fixed Capital 178 Chapter IX. The Aggregate Turnover of Advanced Capital. Cycles of Turnover 191 Chapter X. Theories of Fixed and Circulating Capital. The Physiocrats and Adam Smith 196 Chapter XI. Theories of Fixed and Circulating Capital. Ricardo 223 Chapter XII. The Working Period 236 Chapter XIII. The Time of Production 245 Chapter XIV. The Time of Circulation 255 Chapter XV. Effect of the Time of Turnover on the Magnitude of Advanced Capital 263 I. The Working Period Equal to the Circulation Period 272 II. The Working Period Greater Than the Period of Circulation 276 III. The Working Period Smaller Than the Circulation Period 281 IV. Conclusions 285 V. The Effect of a Change of Prices 291 Chapter XVI. The Turnover of Variable Capital 299 I. The Annual Rate of Surplus Value 299 II. The Turnover of the Individual Variable Capital 313 III. The Turnover of the Variable Capital from the Social Point of View 318 Chapter XVII. The Circulation of Surplus Value 324 I. Simple Reproduction 328 II. Accumulation and Reproduction on an Extended Scale . . 348 PART III THE REPRODUCTION AND CIRCULATION OF THE AGGREGATE SOCIAL CAPITAL 355 Chapter XVIII. Introduction 355 I. The Subject Investigated 355 II. The Role of Money Capital 358 Chapter XIX. Former Presentations of the Subject 363 I. The Physiocrats 363 II. Adam Smith 366 1. Smith's General Points of View 366 2. Adam Smith Resolves Exchange Value into v + s 374 3. The Constant Part of Capital 377 4. Capital and Revenue in Adam Smith 382 5. Recapitulation 389 III. Later Economists 394 Chapter XX. Simple Reproduction 396 I. The Formulation of the Question 396 II. The Two Departments of Social Production 400 III. Exchange Between the Two Departments I( v + I) versus IIC . 403 IV. Exchange Within Department II. Necessities of Life and Ar ticles of Luxury 407 V. The Mediation of Exchange by the Circulation of Money 416 VI. The Constant Capital of Department I 426 VII. Variable Capital and Surplus Value in Both Departments. 430 VIII. The Constant Capital in Both Departments 433 IX. A Retrospect to Adam Smith, Storch, and Ramsay 438 X. Capital and Revenue: Variable Capital and Wages 442 XI. Replacement of the Fixed Capital 454 1. Replacement of the Wear and Tear Portion of the Value in the Form of Money 458 2. Replacement of Fixed Capital in Natura 463 3. Results 472 XII. The Reproduction of the Money Material 475 XIII. Destutt de Tracy's Theory of Reproduction 486 Chapter XXI. Accumulation and Reproduction on an Extended Scale 494 I. Accumulation in Department I 497 1. The Formation of a Hoard 497 2. The Additional Constant Capital 501 3. The Additional Variable Capital 507 II. Accumulation in Department II 507 III. Schematic Presentation of Accumulation 512 1. First Illustration 516 2. Second Illustration 520 3. Replacement of IIC in Accumulation 526 IV. Supplementary Remarks 528 NOTES AND INDEXES 533 Notes 533 Name Index 541 Index of Quoted and Mentioned Literature 545 Index of Periodicals 552 Illustrations 11 Title page of the First German Edition of Volume II of Capital . . 11 Title page of the Second German Edition of Volume II of Capital . 33 Facsimile of a page of the manuscript of Capital, Volume II, by Karl Marx 61 Facsimile of a page of the manuscript of Capital, Volume II, edited and copied by Frederick Engels 65