Capital, Volume II

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Capital, Volume 2, subtitled The Process of Circulation of Capital was prepared by Friedrich Engels from notes left by Karl Marx and published in 1893. It is divided into three parts ^[1]:

1. The Metamorphoses of Capital and Their Circuits
2. The Turnover of Capital
3. The Reproduction and Circulation of the Aggregate Social Capital

Part 3 is the point of departure for a topic treated later in detail by, among others, Rosa Luxembourg.

Contents 1 Part I: The Metamorphoses of Capital and their Circuits 2 Chapter I The Circuit of Money Capital 3 I. First Stage. M-C 4 II. Second Stage. Function of Productive Capital 5 III. Third Stage. C'-M' 6 IV. The Circuit as a Whole 7 Chapter II The Circuit of Productive Capital 8 I SimplIV Reserve Funde Reproduction 9 II Accumulation and Reproduction on an Extended Scale 10 III Accumulation of Money 11 Natural Money and Credit Economy 12 Chapter III The Circuit of Commodity Capital 13 Chapter IV The Three Formulas of the Circuit 14 The Meeting of Demand and Supply 15 Chapter V The Time of Circulation 16 Chapter VI The Costs of Circulation 17 I. Genuine Costs of Circulation 18 1. The Time of Purchase and Sale 19 2. Bookkeeping 20 3. Money 21 II. Costs of Storage 22 1. Formation of Supply in General 23 2. The Commodity Supply Proper 24 PART II: The Turnover of Capital 25 Chapter VII The Turnover Time and the Number of Turnovers 26 Chapter VIII Fixed Capital and Circulating Capital 27 I. Distinctions of Form 28 II. Components, Replacement, Repair, and Accumulation of Fixed Capital 29 Chapter IX The Aggregate Turnover of Advanced Capital. Cycles of Turnover 30 Chapter X Theories of Fixed and Circulating Capital. The Physiocrats and Adam Smith 31 Chapter XI Theories of Fixed and Circulating Capital. Ricardo 32 Chapter XII The Working Period 33 Chapter XIII The Time of Production 34 Chapter XIV The Time of Production 35 Chapter XV Effect of the Time of Turnover on the Magnitude of Advanced Capital 36 I The Working Period Equal to the Circulation Period 37 II. The Working Period Greater Than the Period of Circulation 38 III. The Working Period Smaller Than the Circulation Period 39 IV. Conclusions 40 V. The Effect of a Change of Prices 41 Chapter XVI The Turnover of Variable Capital 42 I. The Annual Rate of Surplus Value 43 II. The Turnover of the Individual Variable Capital 44 III. The Turnover of the Variable Capital from the Social Point of View 45 Chapter XVII The Circulation of Surplus Value 46 I. Simple Reproduction 47 II. Accumulation and Reproduction on an Extended Scale 48 Part III: The Reproduction and Circulation of The Aggregate Social Capital 49 Chapter XVIII. Introduction 50 I. The Subject Investigated 51 II. The Role of Money Capital 52 Chapter XIX Former Presentations of the Subject 53 I. The Physiocrats 54 II. Adam Smith 55 1. Smith's General Points of View 56 2. Adam Smith Resolves Exchange Value into v + s 57 3. The Constant Part of Capital 58 4. Capital and Revenue in Adam Smith 59 5. Recapitulation 60 III. Later Economists 61 Chapter XX. Simple Reproduction 62 I. The Formulation of the Question 63 II. The Two Departments of Social Production 64 III. Exchange Between the Two Departments I(v+s) versus II 65 IV. Exchange Within Department 11. Necessities of Life and Articles of Luxury 66 V. The Mediation of Exchange by the Circulation of Money 67 VI. The Constant Capital of Department I 68 VII. Variable Capital and Surplus Value in Both Departments 69 VIII. The Constant Capital in Both Departments 70 IX. A Retrospect to Adam Smith, Storch, and Ramsay 71 X. Capital and Revenue: Variable Capital and Wages 72 XI. Replacement of the Fixed Capital 73 1. Replacement of the Wear and Tear Portion of the Value in the Form of Money 74 2. Replacement of Fixed Capital in Natura 75 3. Results 76 XII. The Reproduction of the Money Material 77 XIII. Destutt de Tracy's Theory of Reproduction 78 Chapter XXI. Accumulation and Reproduction on an Extended Scale 488 79 I. Accumulation in Department I 80 1. The Formation of a Hoard 81 2. The Additional Constant Capital 82 3. The Additional Variable Capital 83 II. Accumulation in Department II 84 III. Schematic Presentation of Accumulation 85 1. First Illustration 86 2. Second Illustration 87 3. Replacement of IIc in Accumulation 88 IV. Supplementary Remarks 89 See also 90 References 91 External links

[edit] Part I: The Metamorphoses of Capital and their Circuits

[edit] Chapter I The Circuit of Money Capital

[edit] I. First Stage. M-C

[edit] II. Second Stage. Function of Productive Capital

[edit] III. Third Stage. C'-M'

[edit] IV. The Circuit as a Whole

[edit] Chapter II The Circuit of Productive Capital

[edit] I SimplIV Reserve Funde Reproduction

[edit] II Accumulation and Reproduction on an Extended Scale

[edit] III Accumulation of Money

[edit] Natural Money and Credit Economy

[edit] Chapter III The Circuit of Commodity Capital

[edit] Chapter IV The Three Formulas of the Circuit

[edit] The Meeting of Demand and Supply

[edit] Chapter V The Time of Circulation

[edit] Chapter VI The Costs of Circulation

[edit] I. Genuine Costs of Circulation

[edit] 1. The Time of Purchase and Sale

[edit] 2. Bookkeeping

[edit] 3. Money

[edit] II. Costs of Storage

[edit] 1. Formation of Supply in General

[edit] 2. The Commodity Supply Proper

III. Costs of Transportation

[edit] PART II: The Turnover of Capital

[edit] Chapter VII The Turnover Time and the Number of Turnovers

[edit] Chapter VIII Fixed Capital and Circulating Capital

[edit] I. Distinctions of Form

[edit] II. Components, Replacement, Repair, and Accumulation of Fixed Capital

[edit] Chapter IX The Aggregate Turnover of Advanced Capital. Cycles of Turnover

[edit] Chapter X Theories of Fixed and Circulating Capital. The Physiocrats and Adam Smith

[edit] Chapter XI Theories of Fixed and Circulating Capital. Ricardo

[edit] Chapter XII The Working Period

[edit] Chapter XIII The Time of Production

[edit] Chapter XIV The Time of Production

[edit] Chapter XV Effect of the Time of Turnover on the Magnitude of Advanced Capital

[edit] I The Working Period Equal to the Circulation Period

[edit] II. The Working Period Greater Than the Period of Circulation

[edit] III. The Working Period Smaller Than the Circulation Period

[edit] IV. Conclusions

[edit] V. The Effect of a Change of Prices

[edit] Chapter XVI The Turnover of Variable Capital

[edit] I. The Annual Rate of Surplus Value

[edit] II. The Turnover of the Individual Variable Capital

[edit] III. The Turnover of the Variable Capital from the Social Point of View

[edit] Chapter XVII The Circulation of Surplus Value

[edit] I. Simple Reproduction

[edit] II. Accumulation and Reproduction on an Extended Scale

[edit] Part III: The Reproduction and Circulation of The Aggregate Social Capital

[edit] Chapter XVIII. Introduction

[edit] I. The Subject Investigated

[edit] II. The Role of Money Capital

[edit] Chapter XIX Former Presentations of the Subject

[edit] I. The Physiocrats

[edit] II. Adam Smith

[edit] 1. Smith's General Points of View

[edit] 2. Adam Smith Resolves Exchange Value into v + s

[edit] 3. The Constant Part of Capital

[edit] 4. Capital and Revenue in Adam Smith

[edit] 5. Recapitulation

[edit] III. Later Economists

[edit] Chapter XX. Simple Reproduction

[edit] I. The Formulation of the Question

[edit] II. The Two Departments of Social Production

[edit] III. Exchange Between the Two Departments I(v+s) versus II

[edit] IV. Exchange Within Department 11. Necessities of Life and Articles of Luxury

[edit] V. The Mediation of Exchange by the Circulation of Money

[edit] VI. The Constant Capital of Department I

[edit] VII. Variable Capital and Surplus Value in Both Departments

[edit] VIII. The Constant Capital in Both Departments

[edit] IX. A Retrospect to Adam Smith, Storch, and Ramsay

[edit] X. Capital and Revenue: Variable Capital and Wages

[edit] XI. Replacement of the Fixed Capital

[edit] 1. Replacement of the Wear and Tear Portion of the Value in the Form of Money

[edit] 2. Replacement of Fixed Capital in Natura

[edit] 3. Results

[edit] XII. The Reproduction of the Money Material

[edit] XIII. Destutt de Tracy's Theory of Reproduction

[edit] Chapter XXI. Accumulation and Reproduction on an Extended Scale 488

[edit] I. Accumulation in Department I

[edit] 1. The Formation of a Hoard

[edit] 2. The Additional Constant Capital

[edit] 3. The Additional Variable Capital

[edit] II. Accumulation in Department II

[edit] III. Schematic Presentation of Accumulation

[edit] 1. First Illustration

[edit] 2. Second Illustration

[edit] 3. Replacement of IIc in Accumulation

[edit] IV. Supplementary Remarks

[edit] See also

• The Accumulation of Capital
• Capital, Volume I
• Capital, Volume III

[edit] References

[edit] External links

• Full Text