Tag Archives: Das Kapital

Part 1 chapter 5 Economy in Employment of Constant Capital

Marx begins by explaining that a rise in absolute surplus value will always raise the rate or profit. Remember that a change in absolute surplus value means a rise or fall in the total amount of surplus value, not a change in the rate of surplus value. A capitalist increases absolute surplus value by lengthening the working day or hiring more workers. This increases both v and s in the same proportion. Continue reading

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Das Kapital vol.3 part1, chapter 3: The Relation of the Rate of Profit to the Rate of Surplus Value

Before we can examine the formation of a general rate of profit and the way this causes prices to diverge from values we have more examining to do of this equation for the rate of profit: s/(v+c). Continue reading

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Das Kapital vol.3 Part 1 Chapter 2: The Rate of Profit

The summary which begins Chapter Two serves not only to remind us of some important details about the way in which value is produced but also ties together several details that will be essential for understanding our analysis of the law of value in the context of competing capitals. We are reminded first that surplus value is created in production but only realized in circulation. This is a crucial point as it really helps delineate the essential contours of Marx’s argument. The world of appearance is dominated by fetishism. We think that the coercive and tantalizing power of the market, that value, is manifest in commodities themselves as a result of their specific properties. We think that capital itself creates value. And we think that the process of exchange itself can create a profit. Continue reading

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Kapital vol. 3 Part 1 Chapter 1: Cost-Price and Profit

Marx begins by briefly reminding us of the the large-scale structure of his three volumes of Kapital. Each volume analyzes capitalism from different levels of abstraction delineated by different social relations. Continue reading

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Kapital Vol. 3 – Engels’ Preface 1894

The first part of Engels’ introduction describes the laborious process Engels confronted as he attempted to put together a draft of Volume 3 from Marx’s incomplete manuscripts and notes. It sounds like a nightmare of a task. Continue reading

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Kapital Vol. 3- opening thoughts…

I’ve been doing a close reading of the third volume of Marx’s Capital. Since I have this blog, I thought it might be a good idea to write up a summary of each chapter as well as some of my own reflections as I make my way through the book. Continue reading

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