Delphi Collected Works of Karl Marx (Illustrated) (Delphi Series Seven Book 23) by Karl Marx & Friedrich Engels

Author:Karl Marx & Friedrich Engels [Marx, Karl]
Language: eng
Format: epub
Tags: Delphi Main Series
Publisher: Delphi Classics
Published: 2016-12-14T22:00:00+00:00

As a series of transaction, in circulation, the process of circulation, whether in the form of C — M — C or of M — C — M, represents merely the two opposite lines of metamorphoses of commodities, and every individual metamorphosis in its turn includes its opposite on the part of the commodity or money in the hands of another.

C — M on the part of the owner of some commodity means M — C on the part of its buyer; the first metamorphosis of the commodity in C — M is the second metamorphosis of the commodity appearing in the form of M; the opposite applies to M — C. The statements concerning the intermingling of the metamorphosis of a certain commodity in one stage with that of another in another stage apply to the circulation of capital to the extent that the capitalist performs the functions of a buyer and seller of commodities, so that his capital in the form of money meets the commodities of another, or in the form of commodities the money of another. But this intermingling is not identical with the intermingling of the metamorphoses of capitals.

In the first place, M — C(Pm), as we have seen, may represent an intermingling of the metamorphoses of different individual capitals. For instance, the commodity-capital of the cotton-spinner, yarn, is partly replaced by coal. One part of his capital is in the form of money and is transformed into commodities, while the capital of the capitalist producer of coal exists in the form of commodities and is therefore transformed into money; the same transaction of circulation in this case represents opposite metamorphoses of two industrial capitals in different departments of production, the series of metamorphoses of these capitals intermingles in it. But we have also seen, that the Pm into which M is transformed need not be commodity-capital in the strictest sense, that is to say need not be a functional form of industrial capital, need not be produced by a capitalist. It is always a question of M — C on one side, and C — M on the other, but not always of intermingling metamorphoses of capitals. Furthermore M — L, the purchase of labor-power, never intermingles with any metamorphoses of capital, for labor-power, though a commodity from the point of view of the laborer, does not become capital until it is sold to the capitalist. On the other hand, in the process C’ — M’, it is not necessary that M’ should represent transformed commodity-capital; it may be the money-equivalent of labor-power (wages), or of the product of some independent laborer, some slave, serf, or some commune.

In the second place, a definite functional role played by every metamorphosis of some individual capital within the process of circulation, need not represent a corresponding opposite metamorphosis in the rotation of the other capital, provided we assume that the entire production of the world-market is carried on capitalistically. For instance, in the cycle P...P, the M’

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