Das Kapital (II)

Karl Marx

Sprache:

Englisch

Status:

Complete work

Autorschaft:

Written by the author

BOOK II The Circulation of Capital PART I The Metamorphoses of Capital and Their Cycles CHAPTER I. THE CIRCULATION OF MONEY-CAPITAL. The circulation process1 of capital takes place in three stages, which, according to the presentation of the matter m Volume I, form the following series : First stage: The capitalist appears as a buyer on the commodity and labor market; his money is transformed into commodities, or it goes through the circulation pro- cess M-C. Second stage: Productive consumption of the purchased commodities by the capitalist. He acts in the capacity of a capitalist producer of commodities; his capital passes through the process of production. The result is a com- modity of more value than that of the elements compos- ing it. Third stage: The capitalist returns to the market as a seller; his commodities are exchanged for money, or they pass through the circulation process C-M. 1 From Manuscript II. 31 32 Capital. Hence the formula for the circulation process of money capital is: M-C ...P ...C'-M', the dots indicating the points where the process of circulation was interrupted, and C' and M' designating C and M increased by surplus value. 31 32 Capital. Hence the formula for the circulation process of money capital is: M-C ...P ...C'-M', the dots indicating the points where the process of circulation was interrupted, and C' and M' designating C and M increased by surplus value. The first and third stages were discussed in Volume I only in so far as it was required for an understanding of the sec- ond stage, the process of production of capital. For this reason, the various forms which capital assumes in its dif- ferent stages, and which it either retains or discards in the repetition

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