Capitalist Economics by Samuel A. Chambers

Author:Samuel A. Chambers [Chambers, Samuel A.]
Language: eng
Format: epub, pdf
ISBN: 9780197556894
Publisher: OxfordUP
Published: 2021-09-15T00:00:00+00:00

6

Profit

Just as commodities had already been at the core of all of our discussions of capitalist economics, so profit has always been the target. Profit first appeared in this book when we introduced the code for capitalist production, . Profit is the goal; it is the intention, the aim, the very purpose of capitalist economic motion. The system cannot be initiated without putting a sum of money to use with the express goal of turning it into a greater sum of money, and the system cannot be effectively realized without producing that result. Profit is the “prime” symbol in the final term of the capitalist code, . In one sense, then, we have already defined profit on the basis of the existence of .

But we have not fully answered arguably the most important question in the history of economic thought: What is profit? Despite our emphasis here on the apparent (and central) significance of the question, we must highlight the fact that the vast majority of economic writings do not even broach this question, much less provide an adequate answer. The wager of this chapter is that our development of a broader and deeper understanding of both the capitalist mode of production and the primary elements that constitute capitalist relations (money and commodities) will give us the tools required to uncover a more rigorous and more sophisticated understanding of the nature and structure of capitalist profit.

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