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Abstract
This book provides a comprehensive guide to all three volumes of Karl Marx’s ‘Capital’, with advice on further reading and points for further discussion. Recognizing the contemporary relevance of ‘Capital’ in the midst of the current financial crisis, Kenneth Smith has produced an essential guide to Marx’s ideas, particularly on the subject of the circulation of money-capital. This guide uniquely presents the three volumes of ‘Capital’ in a different order of reading to that in which they were published, placing them instead in the order that Marx himself sometimes recommended as a more user-friendly way of reading. Dr Smith also argues that for most of the twentieth century, the full development of the capitalist mode of production (CMP) has been undermined by the existence of a non-capitalist ‘third world’, which has caused the CMP to take on the form of what Marx called a highly developed mercantile system, rather than one characterized by an uninterrupted circuit of industrial capital of the kind he expected would develop. While the guide can be read as a book in its own right, it also contains detailed references to Volumes I–III so that students, seminars and discussion groups can easily make connections between Smith’s explanations and the relevant parts of ‘Capital’.
‘Marx’s work continues to be of unrivalled analytic significance for making sense of the trials and tribulations of the global capitalist economy. The timely publication of Ken Smith’s excellent “Guide to Marx’s ‘Capital’” will prove to be of great value to researchers, teachers and students striving to make sense of the state we are in.’ —Barry Smart, Professor of Sociology, University of Portsmouth
Dr Kenneth Smith is Reader in Criminology and Sociology at Buckinghamshire New University, High Wycombe, UK.
Table of Contents
Section Title | Page | Action | Price |
---|---|---|---|
A Guide to Marx’s Capital Vols I–III_9780857285065 | i | ||
Title | iii | ||
Copyright | iv | ||
CONTENTS | vii | ||
INTRODUCTION | 1 | ||
Reading Capital | 1 | ||
A Note on Marx’s Method | 8 | ||
A Note on Social Class | 12 | ||
A Note on the English Translations of Capital | 12 | ||
Part I THE DEVELOPMENT OF THE CAPITALIST MODE OF PRODUCTION | 15 | ||
PREFACE TO PART I | 17 | ||
1. ABSOLUTE AND RELATIVE SURPLUS VALUE IN CAPITAL, VOL. I, CH. 10 AND 12 | 18 | ||
Points for Further Discussion | 21 | ||
2. COOPERATION AND THE DIVISION OF LABOUR IN CAPITAL, VOL. 1, CH. 13–14 | 23 | ||
Points for Further Discussion | 25 | ||
3. MACHINERY AND MODERN INDUSTRY IN CAPITAL, VOL. I, CH. 15 | 27 | ||
Points for Further Discussion | 29 | ||
4. PRIMITIVE ACCUMULATION IN CAPITAL, VOL. I, PART VIII, CH. 26–33 | 31 | ||
Points for Further Discussion | 35 | ||
Part II THE CAPITALIST MODE OF PRODUCTION | 37 | ||
PREFACE TO PART II | 39 | ||
INTRODUCTION TO PART II | 40 | ||
5. SIMPLE REPRODUCTION IN CAPITAL, VOL. I, CH. 7, 11 AND 23 | 43 | ||
Points for Further Discussion | 47 | ||
6. EXTENDED REPRODUCTION IN CAPITAL, VOL. I, CH. 24 | 50 | ||
Points for Further Discussion | 54 | ||
7. SIMPLE REPRODUCTION IN CAPITAL, VOL. II, SECTIONS 1–8 | 55 | ||
Points for Further Discussion | 58 | ||
8. EXTENDED REPRODUCTION IN CAPITAL, VOL. II, CH. 21, SECTION 3 | 60 | ||
Points for Further Discussion | 67 | ||
9. THE PRECIPITATION OF FIXED CAPITAL IN CAPITAL, VOL. II, CH. 21, SECTIONS 1–2; CH. 20, SECTION 11 | 69 | ||
Points for Further Discussion | 77 | ||
CONCLUSION TO PART II | 79 | ||
Part III THE UNDERDEVELOPMENT OF THE CAPITALIST MODE OF PRODUCTION | 81 | ||
PREFACE TO PART III | 83 | ||
INTRODUCTION TO PART III | 84 | ||
10. MERCANTILISM AND THE CIRCUIT OF INDUSTRIAL CAPITAL IN CAPITAL VOL. II, PART I, CH. 1–4 | 86 | ||
Points for Further Discussion | 90 | ||
11. CREDIT AND THE DISSOLUTION OF THE CMP IN CAPITAL, VOL. III, CH. 27 | 91 | ||
Points for Further Discussion | 95 | ||
12. RUDOLF HILFERDING AND ‘FINANCE CAPITAL’: CAPITAL, VOL. I, CH. 25, SECTION 2 | 97 | ||
Points for Further Discussion | 103 | ||
13. MARX ON DEVELOPMENT AND UNDERDEVELOPMENT IN CAPITAL, VOL. I, CH. 25, SECTION 5 | 104 | ||
Points for Further Discussion | 108 | ||
14. THE TENDENCY OF THE RATE OF PROFIT TO FALL IN CAPITAL, VOL. III, PARTS I–III, CH. 1–15, BUT ESPECIALLY CH. 14–15 | 111 | ||
Points for Further Discussion | 116 | ||
CONCLUSION TO PART III | 118 | ||
Part IV THE VALUE THEORY OF LABOUR | 121 | ||
PREFACE TO PART IV | 123 | ||
INTRODUCTION TO PART IV | 124 | ||
15. THE RATE OF PROFIT AND THE RATE OF SURPLUS VALUE IN CAPITAL, VOL. I, CH. 9, SECTION 3, AND VOL. III, PARTS I AND III | 125 | ||
Points for Further Discussion | 130 | ||
16. THE DEGREE OF EXPLOITATION OF LABOUR BY CAPITAL IN CAPITAL, VOL. I, CH. 9, SECTION 1; CH. 6–7 | 133 | ||
Points for Further Discussion | 137 | ||
17. THE LABOUR THEORY OF VALUE AND THE VALUE THEORY OF LABOUR IN CAPITAL, VOL. I, CH. 1, SECTIONS 1–3 | 142 | ||
Points for Further Discussion | 149 | ||
18. THE REIFICATION OF COMMODITY FETISHISM IN CAPITAL, VOL. I, CH. 1, SECTION 4, AND VOL. III, CH. 24 | 156 | ||
Points for Further Discussion | 162 | ||
CONCLUSION TO PART IV | 168 | ||
CONCLUSION | 171 | ||
Further Reading | 177 | ||
APPENDIX: ON SOCIAL CLASSES | 179 | ||
I – Marx on Social Class in Capital, Vol. III (Part VI, Ch. 52 and elsewhere) | 179 | ||
II – Marx on Social Class in The Communist Manifesto and in Capital, Vol. I | 182 | ||
III – Marx on Social Class in France | 185 | ||
IV – Marx on the Concept of A-historical Development | 187 | ||
Conclusion | 189 | ||
NOTES | 192 | ||
Introduction | 192 | ||
Part I: The Development of the Capitalist Mode of Production | 193 | ||
Part II: The Capitalist Mode of Production | 193 | ||
Part III: The Underdevelopment of the Capitalist Mode of Production | 194 | ||
Part IV: The Value Theory of Labour | 195 | ||
BIBLIOGRAPHY | 196 | ||
INDEX | 198 |