Cover

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Title Page, Copyright

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Contents

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p. v

Translators

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p. ix

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Preface

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pp. xi-xii

Volume 33 of the Collected Works of Marx and Engels contains the continuation of Marx's Economic Manuscript of 1861-63 (Notebooks XV to XX, pp. 944-1251 of the manuscript, and the continuation of Notebook V, pp. 211-19). The preceding part of the manuscript will be found in volumes 30 to 32. The whole manuscript is presented here in accordance with its new publication in the languages of the original in Marx-Engels Gesamtausgabe (MEGA), Zweite Abteilung...

Works

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pp. 1-2

Economic Manuscript of 1861-63

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pp. 3-4

A Contribution to the Critique

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pp. 5-6

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Marx's Summary of Contents

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pp. 7-8

XV 5) Theories of Surplus Value I) Proletarian opposition on the basis of Ricardo (Compound interest; fall in the rate of profit based on this.) So-called amassment as a mere phenomenon of circulation. (Stocks, etc.—circulation reservoirs.) 2) Ravenstone. Conclusion2 3) and 4) Hodgskin (Interest-bearing...

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Mercantile Capital. Money-dealing Capital

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pp. 9-68

[XV-944]13 It appears entirely correct to say: The division of profit into interest and industrial profit becomes evident as soon as there exist 2 classes of CAPITALISTS, MONIED and INDUSTRIAL. The existence of these 2 classes is an expression of that division; but the split must be there (must be possible) for it to appear in the separation of the 2 classes. The profit may, however, be so low, e.g. 2%, that small capitalists are unable to live from it as MONIED CAPITALISTS;...

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Third Chapter. Capital and Profit

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pp. 69-145

Considered in its totality (wholeness) (or considered completely) (or in its completeness) the movement of capital is a unity of the process of production and the process of circulation. The surplus value produced within a given period of circulation (let us take e.g. a year as the measure; see above, Chapter II54), when measured against the total capital which has been advanced, is called—profit. (Under profit is included not only interest— known to be a...

Miscellanea

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pp. 146-146

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Labour Process and Valorisation Process: Use Value and USE VALUE AND EXCHANGE VALUE

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pp. 147-154

It was shown originally121 that the distinction between the labour process and the valorisation process was of decisive importance, because there rested upon it the distinction between constant and variable capital, and the whole of the theory of capital (surplus value, profit, etc.). But there are, as will appear, yet more very important relations relevant to this distinction. We see, firstly...

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Mercantile Capital. Money-dealing Capital (Continuation of

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pp. 155-171

Thus mercantile capital enters into the equalisation of surplus value to form an average profit (although it does not enter into the production of that surplus value), and therefore the AVERAGE RATE OF PROFIT already contains the deduction from surplus value which falls to MERCANTILE capital, hence the MERCANTILE DEDUCTION from the profit of productive capital...

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Episode. Reflux Movements of Money in Capitalist Reproduction

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pp. 172-239

Let us take first the circulation between productive capitalist and SHOPKEEPER and worker. Let the SHOPKEEPER represent all the sellers of the means of subsistence which enter into the worker's consumption. Money> is paid as wages by the capitalist to the worker; the worker gives out this money as means of circulation, buys commodities from the SHOPKEEPER with it; with the money the SHOPKEEPER replaces his STOCK from the capitalist, who we shall assume produces means of subsistence...

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Mercantile Capital [Continued]

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pp. 240-253

On the DISTRIBUTION OF CAPITAL AMONG THE DIFFERENT EMPLOYMENTS 152 : "CAPITAL IS DIRECTED TO DIFFERENT EMPLOYMENTS BY THE RATE OF PROFITS. This GENERAL PRINCIPLE is modified by: * 1) the difficulties connected with a change of investment; 2) the risk which attends different investments. Risk of losses* determined by the INSURANCE SOCIETIES. But there is also *the risk of success. Should we take into account the many losses sustained by the community of merchants, the number of failures, as well as the insta...nces of uncommon success, it would be found, that

5) Theories of Surplus Value

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pp. 253-254

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1) Proletarian Opposition on the Basis of Ricardo

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pp. 253-255

* "Easy labour is only transmitted skill " * ([p.] 48). "As all the advantages derived from the division of labour * naturally centre in and belong to the labourers, if they are deprived of them, * and in the * progress of society* those only are enriched *by their improved skill who never labour—this must arise from unjust appropriation; from usurpation and plunder in the party enriched,* and from * consenting submission in the party impoverished"* ([pp.] 108-09). [XVIII-1085] "The labourers, to be sure, multiply too rapidly when *that multiplication is...

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m) Ramsay (George) (OF TRINITY COLLEGE), AN ESSAY ON THE DISTRIBUTION OF WEALTH, EDINBURGH, 1836

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pp. 255-285

With Ramsay we return again to the political economists. In order to find a place for commercial capital, he calls it "THE TRANSPORT OF COMMODITIES FROM ONE PLACE TO ANOTHER" ([p.] 19). He thus confuses trade with the CARRYING INDUSTRY. Ramsay's chief contribution: First: That he does in fact make the distinction between constant and variable...

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n) Cherbuliez

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pp. 285-320

(It is questionable whether we should specially include this fellow in this group [of economists] since most of what he writes is based on Sismondi, or whether we should on occasion insert his pertinent remarks in the form of quotations.169)...

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o) Richard Jones

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pp. 325-376

Even this first work ON RENT is distinguished by what has been lacking in all English economists since Sir James Steuart, namely, a sense of the historical differences in modes of production. (Such a correct DISTINCTION of historical forms generally speaking is not contradicted by the very important archaeological, philological and historical BLUNDERS attributed..

3) Relative Surplus Value

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p. 372

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•y) Machinery, Utilisation of the Forces of Nature and of Science

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pp. 372-387

...It may appear to many that, as the mills and machinery are not working, they cannot be deteriorating... It is not intended to cover the cost of the ordinary wear and tear, which is repaired, as a knife has a new blade, by a staff of mechanics provided for the purpose by every manufacturer when his mill is working. But it is intended to cover that kind of wear which cannot be repaired from time to time, and which, in the case...

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Division of Labour and Mechanical Workshop. Tool and

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pp. 387-500

"By a low level of organisation I mean a low degree of differentiation of the organs for different particular operations; for as long as one and the same organ has to perform diversified work, the reason for its variability may probably be seen in the fact that natural selection preserves or suppresses every little deviation of form less carefully than when the organ has to serve for one special purpose alone. In the same way that knives intended to...

Notes and Indexes

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pp. 501-504

Notes

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pp. 505-524

Name Index

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pp. 525-532

Index of Quoted and Mentioned Literature

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pp. 533-539