Capital, Volume III
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'Capital', Volume 3, subtitled The Process of Captialist Production as a Whole was prepared by Friedrich Engels from notes left by Karl Marx and published in 1894. It is in seven parts [1]:
- The conversion of Surplus Value into Profit and the rate of Surplus Value into the rate of Profit
- Conversion of Profit into Average Profit
- The Law of the Tendency of the Rate of Profit to Fall
- Conversion of Commodity Capital and Money Capital into Commercial Capital and Money-Dealing Capital (Merchant's Capital)
- Division of Profit Into Interest and Profit of Enterprise, Interest Bearing Capital.
- Transformation of Surplus-Profit into Ground Rent.
- Revenues and Their Sources
The work is best known today for part 3 which in summary says that as the organic fixed capital requirements of production rise as a result of advancements in production generally, the rate of profit tends to fall.
[edit] See also
[edit] References
- ^ Engels, Friedrich (1967). Capital Vol3.. International Publishers Co, Inc.. ISBN 0-7178-0490-9.
