Capital

Capital

Volume 2: A Critique of Political Economy


Translator: David Fernbach
Introduction by: Ernest Mandel

Format
Paperback
Price
$18.00
 
Additional Formats
  • Paperback
  • ISBN 9780140445695
  • 624 Pages
  • Penguin Classics
  • Adult

Overview

The first volume of a political treatise that changed the world

One of the most notorious works of modern times, as well as one of the most influential, Capital is an incisive critique of private property and the social relations it generates. Living in exile in England, where this work was largely written, Marx drew on a wide-ranging knowledge of its society to support his analysis and create fresh insights. Arguing that capitalism would cause an ever-increasing division in wealth and welfare, he predicted its abolition and replacement by a system with common ownership of the means of production. Capital rapidly acquired readership among the leaders of social democratic parties, particularly in Russia in Germany, and ultimately throughout the world, to become a work described by Marx friend and collaborator Friedrich Engels as “the Bible of the working class.”

For more than sixty-five years, Penguin has been the leading publisher of classic literature in the English-speaking world. With more than 1,500 titles, Penguin Classics represents a global bookshelf of the best works throughout history and across genres and disciplines. Readers trust the series to provide authoritative texts enhanced by introductions and notes by distinguished scholars and contemporary authors, as well as up-to-date translations by award-winning translators.

Table of Contents

Introduction
Translator’s Preface
Preface (Frederick Engels)
Preface to the Second Edition (Frederick Engels)
Book II: The Process of Circulation of Capital

Part One: The Metamorphoses of Capital and their Circuit

Chapter 1: The Circuit of Money Capital
1. First Stage. M-C
2. Second Stage. The 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 Expanded Scale
3. Accumulation of Money
4. The Reserve Fund

Chapter 3: The Circuit of Commodity Capital

Chapter 4: The Three Figures of the Circuit
(Natural Economy, Money Economy and Credit Economy)
(The Matching of Demand and Supply)

Chapter 5: Circulation Time

Chapter 6: The Costs of Circulation
1. Pure Circulation Costs
(a) Buying and Selling Time
(b) Book-keeping
(c) Money
2. Costs of Storage
(a) Stock Formation in General
(b) The Commodity Stock Proper
3. Transport Costs

Part Two: The Turnover of Capital

Chapter 7: Turnover Time and Number of Turnovers

Chapter 8: Fixed Capital and Circulating Capital
1. The Formal Distinctions
2. Components, Replacement, Repairs and Accumulation of the Fixed Capital

Chapter 9: The Overall Turnover of the Capital Advanced. Turnover Cycles

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: Production Time

Chapter 14: Circulation Time

Chapter 15: Effect of Circulation Time on the Magnitude of the Capital Advanced
1. Working Period and Circulation Period Equal
2. Working Period Longer than Circulation Period
3. Working Period Shorter than Circulation Period
4. Results
5. Effect of Changes in Price

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 Considered from the Social Point of View

Chapter 17: The Circulation of Surplus-Value
1. Simple Reproduction
2. Accumulation and Expanded Reproduction

Part Three: The Reproduction and Circulation of the Total Social Capital

Chapter 18: Introduction
1. The Object of the Inquiry
2. The Role of Money Capital

Chapter 19: Former Presentations of the Subject
1. The Physiocrats
2. Adam Smith
(a) Smith’s General Perspectives
(b) Smith’s Resolution of Exchange-Value into v+s
(c) The Constant Capital Component
(d) Capital and Revenue in Adam Smith
(e) Summary
3. Later Writers

Chapter 20: Simple Reproduction
1. Formulation of the Problem
2. The Two Departments of Social Production
3. Exchange Between the Two Departments: I against II
4. Exchange Within Department II. Necessary Means of Subsistence and Luxury Items
5. The Mediation of the Exchanges by Monetary Circulation
6. The Constant Capital in Department I
7. Variable Capital and Surplus-Value in the Two Departments
8. The Constant Capital in Both Departments
9. A Look Back at Adam Smith, Storch and Ramsay
10. Capital and Revenue: Variable Capital and Wages
11. Replacement of the Fixed Capital
(a) Replacement of the Depreciation Component in the Money Form
(b) Replacement of the 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
1. Accumulation in Department I
(a) Hoard Formation
(b) The Additional Constant Capital
(c) The Additional Variable Capital
2. Accumulation in Department II
3. Schematic Presentation of Accumulation
(a) First Example
(b) Second Example
(c) The Exchange of II in the Case of Accumulation
4. Supplementary Remarks

Quotations in Languages Other than English and German
Index of Authorities Quoted
General Index
Note on Previous Editions of the Works of Marx and Engels
Chronology of Works by Marx and Engels

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