Collected Works, Volume 36: Karl Marx - Capital, Volume 2
Karl Marx, Friedrich Engels
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Volume 36 contains Volume II of Marx's Capital published by Engels on the basis of the author's unfinished manuscripts. Volume II deals with the circulation of individual and social capital, its metamorphoses and its realisation in the form of value and things.
Marx/Engels Collected Works (MECW) is the largest collection of translations into English of the works of Karl Marx and Friedrich Engels. It contains all works published by Marx and Engels in their lifetimes and numerous unpublished manuscripts and letters. The Collected Works, which was translated by Richard Dixon and others, consists of 50 volumes. It was compiled and printed between 1975 and 2005 by Progress Publishers (Moscow) in collaboration with Lawrence and Wishart (London) and International Publishers (New York).
The Collected Works contains material written by Marx between 1835 and his death in 1883, and by Engels between 1838 and his death in 1895. The early volumes include juvenilia, including correspondence between Marx and his father, Marx's poetry, and letters from Engels to his sister. Several volumes collect the pair's articles for the Neue Rheinische Zeitung.
Other volumes in the Collected Works contain well-known works of Marx and Engels, including The Communist Manifesto, The Eighteenth Brumaire of Louis Napoleon, and Capital, lesser-known works, and previously unpublished or untranslated manuscripts. The Collected Works includes 13 volumes of correspondence by the mature Marx and Engels, covering the period from 1844 through 1895.
Although the Collected Works is the most complete collection of the work by Marx and Engels published to date in English, it is not their complete works. A project to publish the pair's complete works in German is expected to require more than 120 volumes.
the outset in the capacity of an owner of means of production, which are the material conditions for the productive expenditure of labour power by its owner. In other words, these means of production are in opposition to the owner of the labour power, being property of another. On the other hand the seller of labour faces its buyer as labour power of another which must be made to do his bidding, must be integrated into his capital, in order that it may really become productive capital. The class
wage labourers, into whom it transforms the vast majority of direct producers. Since the first condition for its realisation is the permanent existence of a class of wage labourers, M — C ... P ... C — M ' presupposes a capital in the form of productive capital, and hence the form of the circuit of productive capital. II. SECOND STAGE. FUNCTION OF PRODUCTIVE CAPITAL The circuit of capital, which we have here considered, begins with the act of circulation M — C, the transformation of money into
intended for circulation. Its existence as a fund for purchase and payment, the suspension of its movement, the interrupted state of its circulation, will then constitute a state in which money exercises one of its functions as money capital. As money capital; for in this case the money temporarily remaining at rest is itself a part of money capital M (of M ' — m = M), of that portion of the value of commodity capital which is = to P, to that value of productive capital from which the circuit
first stage of the circulation), C — M', the capital value + surplus value already exist as realised money capital, as M', which appeared as the last extreme in the first circuit. That surplus value has been produced is depicted in the first-considered formula P ... P (see expanded formula, p. 47) a by c — m — c, which, in its second stage, falls outside of the circulation of capital and represents the circulation of surplus value as revenue. In this form, where the entire movement is represented
frais of production so far as society is concerned, may be a source of enrichment to the individual capitalist. On the other hand, as this addition to the price of the commodity merely distributes these costs of circulation equally, they do not thereby cease to be unproductive in character. For instance insurance companies divide the losses of individual capitalists among the capitalist class. But this does not prevent these equalised losses from remaining losses so far as the aggregate social