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Blunden A: Marx's Capital

Marx's Capital

Hegelian Sources

Contents

Preface xi

1 Marx’s Sources 1

1 Hegel’s Theory of Science 1

1.1 The Idea of the True 4

1.2 Hegel’s Social Theory 10

1.3 Right 10

1.4 Morality 11

1.5 The State and Ethical Life 11

2 Marx’s Use of History 12

2.1 Categorical Genealogy 16

3 Marx’s Critique of Ricardo 18

3.1 The Three Sources and Component Parts of Capital 22

2 Capital 23

1 Marx’s Capital Volume One: the Process of Production of Capital 23

1.1 Part I. Commodities and Money 23

1.1.1 Chapter 1 §1, the Two Factors of a Commodity:

Use-Value and Value 23

1.1.2 Summary of Capital, Volume One, Chapter 1 28

1.1.3 Chapter 2. Exchange 29

1.1.4 Chapter 3. Money 30

1.1.5 Summary of Part I 30

1.2 Part II. The Transformation of Money into Capital 31

1.2.1 Chapter 4. The General Formula for Capital 31

1.2.2 Chapter 5. Contradictions in the General Formula

of Capital 33

1.2.3 Chapter 6. The Buying and Selling of Labour-Power 34

1.2.4 Summary of Part II 37

1.3 Part III. The Production of Absolute Surplus-Value 38

1.3.1 Chapter 7. The Labour-Process &amp; Process of Producing

Surplus-Value 38

1.3.2 §2. The Production of Surplus Value 39

1.3.3 Conclusion from Chapter 7 40

1.3.4 Chapter 8. Constant Capital and Variable Capital 41

1.3.5 Chapter 9. The Rate of Surplus-Value 42

1.3.6 Chapter 10. The Working Day 43

1.3.7 Chapter 11. The Rate and Mass of Surplus-Value 43

1.3.8 Summary of Part III 45

1.4 Part IV. The Production of Relative Surplus-Value 47

1.4.1 Chapter 12. The Concept of Relative Surplus-Value 47

1.4.2 Chapter 13. Co-operation 49

1.4.3 Chapter 14. Division of Labour and Manufacture 50

1.4.4 Chapter 15. Machinery and Modern Industry 50

1.5 Part V. The Production of Absolute and of Relative

Surplus-Value 50

1.5.1 Chapter 16. Absolute and Relative Surplus Value 50

1.6 Part VI. Wages 52

1.6.1 The Remaining Parts of Volume One of Capital 52

1.7 Capital Volume One, Conclusion 54

2 Marx’s Capital Volume Two: the Process of Circulation of Capital 59

2.1 Part I. The Metamorphoses of Capital and Their Circuits 60

2.1.1 Chapter 1. The Circuit of Money Capital 60

2.1.2 Chapter 2. The Circuit of Productive Capital 62

2.1.3 Chapter 3. The Circuit of Commodity-Capital 63

2.1.4 Summary of Part I 64

2.2 Part II. The Turnover of Capital 65

2.2.1 Chapter 7. The Turnover Time and Number of

Turnovers 65

2.2.2 Chapter 8. Fixed Capital and Circulating Capital 65

2.3 Part III. The Reproduction and Circulation of Aggregate

Social Capital 66

2.4 Summary of Volume Two 68

3 Marx’s Capital Volume Three: the Process of Capitalist Production

as a Whole 70

3.1 Part I. The Conversion of Surplus-Value into Profit and of the Rate

of Surplus-Value into the Rate of Profit 71

3.1.1 Chapter 1. Cost-Price and Profit 73

3.1.2 Chapter 2. The Rate of Profit 74

3.1.3 Chapter 3. The Relation of Rate of Profit to Rate

of Surplus-Value 74

3.1.4 Chapter 4. The Effect of the Turnover on the Rate

of Profit 74

3.1.5 Chapter 5. Economy in the Employment of Constant

Capital 74

3.1.6 Chapter 6. The Effect of Price Fluctuations 75

3.1.7 Chapter 7. Supplementary Remarks 75

3.2 Part II. Conversion of Profit into Average Profit 75

3.2.1 Chapter 8. Different Compositions of Capitals in

Different Branches of Production and Resulting

Differences in Rates of Profit 75

3.2.2 Chapter 9. Formation of a General Rate of Profit

(Average Rate of Profit) and Transformation of the

Values of Commodities into Prices of Production 76

3.2.3 Chapter 10. Equalisation of the General Rate of Profit

through Competition. Market-Prices and Market-Values.

Surplus-Profit 79

3.2.4 Chapter 11. Effects of General Wage Fluctuations on

Prices of Production 81

3.2.5 Chapter 12. Supplementary Remarks 81

3.3 Part III. The Law of the Tendency of the Rate of Profit to Fall 83

3.3.1 Chapter 13. The Law as Such 84

3.3.2 Chapter 14. Counteracting Influences 84

3.3.3 Chapter 15. Exposition of the Internal Contradictions of

the Law 85

3.4 Part IV. Conversion of Commodity-Capital and Money-Capital

into Commercial Capital and Money-Dealing Capital

(Merchant’s Capital) 86

3.4.1 Chapter 16. Commercial Capital 86

3.4.2 Chapter 17. Commercial Profit 88

3.4.3 Chapter 18. The Turnover of Merchant’s Capital.

Prices 89

3.4.4 Chapter 19. Money-Dealing Capital 89

3.5 Part V. Division of Profit into Interest and Profit of Enterprise:

Interest-Bearing Capital 90

3.5.1 Chapter 21. Interest-Bearing Capital 90

3.5.2 Chapter 22. Division of Profit. Rate of Interest. Natural

Rate of Interest 93

3.5.3 Chapter 23. Interest and Profit of Enterprise 93

3.5.4 Chapter 24. Externalisation of the Relations of Capital

in the Form of Interest-Bearing Capital 95

3.5.5 Chapter 25. Credit and Fictitious Capital 95

3.5.6 Chapter 27. The Role of Credit in Capitalist

Production 95

3.5.7 Chapter 30–35. Money-Capital and Real Capital 97

3.5.8 Chapter 36. Pre-capitalist Relationships 98

3.6 Part VI. Transformation of Surplus-Profit into Ground-Rent 98

3.6.1 Chapter 37. Introduction 98

3.6.2 Chapter 38–44. Differential Rent 99

3.6.3 Chapter 45. Absolute Ground-Rent 99

3.6.4 Chapter 46. Building Site Rent. Rent in Mining. Price

of Land 100

3.6.5 Summary of Parts V and VI 100

3 Overview and Reflections 102

1 Marx’s Capital: Overview 102

1.1 The Division of the Material by Forms of Ethical Life 102

1.1.1 Bourgeois Society 102

1.1.2 Productive Capitalism 102

1.1.3 Finance Capital 103

1.2 The Logical Division of the Subject Matter 103

1.2.1 The Immediate Production of Capital 103

1.2.2 The Circulation of Capital 104

1.2.3 The Process of Capitalist Production as a Whole 105

1.3 Analysis by Units 106

1.3.1 The Commodity (v.1 Part I) 106

1.3.2 The Embryo Capitalist, Moneybags (v.1 Part II) 107

1.3.3 Unpaid Labour Time (v.1 Part III) 107

1.3.4 The Necessary Labour Time (v.1 Part IV) 107

1.3.5 Productive Labour (v.1 Part V) 108

1.3.6 The Day’s Wage (v.1 Part VI) 108

1.3.7 The Circuit of Capital (v.2 Part I) 108

1.3.8 The Turnover Time of Capital (v.2 Part II) 108

1.3.9 The Unity of Circulation and Production

(v.2 Part III) 108

1.3.10 Cost-price and Price of Production (v.3 Part I) 109

1.3.11 The Average Rate of Profit (v.3 Part II) 109

1.3.12 Accumulated Constant Capital (v.3 Part III) 109

1.3.13 The Commercial Capitalist (v.3 Part IV) 109

1.3.14 The Finance Capitalist (v.3 Part V) 109

1.3.15 The Landowner (v.3 Part VI) 110

2 Marx’s Capital: Outstanding Issues 110

2.1 Commodities 111

2.2 Precarity and Gig Work 113

2.3 The Advertising Industry 114

2.4 State Intervention 115

2.5 Summary 116

3 Reflection 116

3.1 The Capital/Logic Debate 116

3.2 My Journey to Capital 117

4 Conclusion 120

References 123

Index 124

Routledge Research in Legal Philosophy

This book explores democratic development in Indonesia-the world's third-largest democracy after India and the United States. Through case studies, it looks at two rival versions of democracy-the republican form and the electoral form-and posits that electoral democracy is not sustainable without republican institutions, laws, and norms. In recent years, there has been growing instability in Indonesian democracy, with brutal fighting among political forces and deep polarization. This book contends that what needs to be explained is not the democratic decline in Indonesia but rather the deviant form of democracy that the country has been practicing since the fall of the military dictatorship. It is argued that in the last twenty-five years, Indonesia has practiced a Schumpeterian form of democracy with a heavy emphasis on election while neglecting the minimum threshold of a healthy republican form of democracy: political participation, equality of virtues, and the principle of nondomination. The book invites readers on an intellectual journey to explore the republican ideal through the lenses of philosophy, law, politics, and the history of the problem of democracy in Indonesia.

A Legal Philosophical Analysis

Democracy and the Rule of Law in Indonesia

Routledge Revivals

Originally published in 1976, this book examines how and why local government reforms came about and what influences, pressures and compromises were involved. At the time of publication it provided the most detailed account so far of the process by which the 1972 Local Government Act was approved by Parliament following the Redcliffe-Maud report and two White Papers. At the same time, as a case study of the British policy-making process, it examines more general issues about the political manoeuvring of groups in conflict, the concept of 'government by Commission' and the range of strategies which were open to Government decision makers. The book will prove essential reading for students of the history of British Government policy-making and political processes, and of administrative change and innovation.

1966–74

The Process of Local Government Reform

A new English translation of Isaak Illich Rubin’s classic Essays on Marx’s Theory of Value.
 

First published in the Soviet Union in 1923, Rubin’s book sparked a fierce value controversy with contemporary Soviet economists during the late 1920s. As such, the present translation is conceived as a variorum edition, including all the essential supplementary materials related to this foundational work in Marx’s value theory, published here in English for the first time. In addition to Rubin’s main work, this edition includes his four most important related publications, as well as ten debate articles written and published by his contemporary proponents and opponents.

Conceived as a Variorum Edition

Essays on Marx's Theory of Value

Routledge IAFFE Advances in Feminist Economics

In the wake of the global financial crisis, governments in many countries have imposed widespread cuts in public expenditure and social rights, some of which have been so dramatic that they have been described as 'austericide'. This book explores the financial crisis and the policies implemented in response to it in terms of the differences in the ways in which women and men have been affected by it, using an approach which combines feminist economics and a political economy framework. The book's aim is to question conventional economic theories in order to present more critical and realistic policy approaches. The breadth of the book's exploration of the impact of the cuts, exploring issues such as gender stereotyping and the sustainability of welfare systems, moves it beyond other analyses of gender and the crisis.

Austericide in Europe

The Feminist Economics of Austerity

The History of Modern Political Philosophy

The Rise and Fall of Rational Control

"[O]ne of the most original and important books on Africa in years."--Financial Times"Challenges outdated narratives and makes a compelling case for the continent's economic potential."--Bill GatesThe acclaimed author of How Asia Works brings his "pithy, well-written and intellectually vigorous" (Financial Times) reporting to Africa, revealing essential, promising lessons about the engines of economic growth across the continentThe culmination of twenty years spent studying Asian economics, Joe Studwell's celebrated How Asia Works revealed the key policies behind the meteoric growth of the "Asian tigers." The question he kept hearing from those inspired by his clear-eyed understanding of global development: what about Africa? He was finally convinced to investigate further when the inquiries began coming from Africans themselves. A decade of research, travel and on-the-ground reporting began.Studwell expected that Africa's challenging geography and its crippling legacies of colonialism would necessitate a unique developmental recipe. Yet to his astonishment, the African countries that succeeded did so by embracing the very same strategies their Asian counterparts had--strategies that are far different from those foisted on Africa by the international community. He explores these winning policies via four countries that have seen exceptional economic growth (Botswana, Mauritius, Ethiopia and Rwanda) and that demonstrate both the promise and the particular challenge of the African context. Highlighting the achievements of local leaders, Studwell argues that prosperity is well within reach and that the rapidly rising population--seen as alarming by so many--will be foundational to Africa's flourishing. How Africa Works is essential, optimistic reading for anyone looking to understand the next chapter of global development.

Success and Failure on the World's Last Developmental Frontier

How Africa Works

Key Texts from the Political Economy of Marx and Lenin

Theories for Radical Change

Economic Perspectives on Institutions provides an introduction to the economic analysis of institutions, particularly with respect to the core issues of conflict, coordination and inequality, offering an essential synthesis of what we have learnt so far and highlighting the major gaps to be filled. Readers are introduced to some of the best ideas produced in the field of institutional economics and are provided with a critical assessment both of their ability to explain a number of crucial problems and to offer a guide to the choice of the best policies. This book will be essential reading to all those studying and researching in the field of institutional economics.

Conflict, Coordination, Inequality

Economic Perspectives on Institutions

Cambridge Companions to Law

The Cambridge Companion to World Trade Law offers expert but compact discussion of the diverse perspectives, enduring issues, and emergent challenges in the field. This volume offers a lively and thorough overview of the subject in all its dimensions. It takes stock of the state of the field of trade law without allowing current events to dominate key debates. It is intended to be appreciated not only by a legal audience as a collection of concise yet thoughtful reflective pieces, but also by readers across the fields of business, economics, finance, sociology, diplomacy, and international relations who may have no specialist trade law knowledge. It will appeal not only to the novice but also to the seasoned trade law expert who might wish to have at hand a single-volume compendium of current expert analysis across the different dimensions of trade law.

The Cambridge Companion to World Trade Law

Originally published in 1974, this book filled a gap in its examination and evaluation of the way in which English local government forms a part of democratic society. Modern society is complex and although local government brings many benefits to ordinary people, it also circumscribes what they may do, particularly with regard to planning, education, housing, conservation and the environment. Local government is judged by its ability to raise the necessary finance, set its priorities and successfully provide services for local people. It is also judged by those democratic criteria of justice, impartiality, fairness and openness that are a mark of democratic society in all its aspects. This book examines these issues in the light of the reformed local government of the late 20th Century and traces the roots of the present system into the ideals and achievements of the great Victorian reformers.

Democratic Theory and Local Government

Rediscovers the economic ideas that built America by offering the most comprehensive treatment of the American protectionist school of economic thought - tracing its origins from Alexander Hamilton and Tench Coxe, and highlighting the School's dynamic, invention-driven vision as a rival to English classical economics.

America's Neglected Protectionist Tradition offers the most comprehensive treatment of the American protectionist school of economic thought - an intellectual tradition which originated with the ideas of Alexander Hamilton and Tench Coxe, and was developed further by thinkers such as Friedrich List, John Rae, and Henry Charles Carey. This work provides the first systematic account of the philosophy and theory of the American protectionist tradition by drawing upon the full corpus of their literature, which includes the writings of nearly seventy statesmen and economists. 
In reconstructing their system of theory, America's Neglected Protectionist Tradition demonstrates that the American protectionists represented a coherent and systematic school of economic thought, and one that rivalled their English classical counterparts. Against the conventional literature on the topic, which treats American Protectionist thought as merely an adaption of English classical economics, this work demonstrates that the American Protectionists developed a distinctive approach to economics. Not only did they differ from the Classicals on the policy recommendations concerning international trade, they rejected basic assumptions of the English classicals which remain foundational to contemporary economic analysis. Central to the thinking of the American protectionist tradition is the idea of the economy as dynamic and inventive. Rather than seeing scarce resources as placing fixed limits on economic progress, the American protectionists looked to invention, human ingenuity, and the diversity of talents and aptitudes as the means of forging the wealth of nations. Among other areas of economic analysis, this work explores the American protectionists' support for economic diversification, which stands in contrast with free trade theory's emphasis on specialisation. By challenging the Classical view that individuals represent homogeneous and uniform factors of production, the protectionists saw mankind as possessing unique talents, aptitudes and dispositions. Protected diversification was thus necessary to allow individuals to exercise these unique qualities. By recovering this neglected tradition, this work not only fills a significant gap in the history of economic thought but also provides valuable historical perspective on contemporary debates regarding trade and industrial policy, technological innovation and economic development.

The Economics that Forged a Nation

America’s Neglected Protectionist Tradition

This book analyses the tendency in international law scholarship and criticism to seek a 'new' international law. Drawing and building on scholarship around the political significance of theological ideas, it argues that underlying this tendency is a relationship between international law and messianic thinking.

The 'New' International Law

Marx's Capital

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