,*APT] #b 
,! ,CRITICS 

,PEOPLE 3 

,AU?OR 3 ,ROSA ,LUXEMBURG 

,TEXT 3 

,JU/ CONSID]3 IT IS A FACT ?AT ! CONTROV]SIES 9 POLITICAL ECONOMY OV] ! PROBLEM ( ACCUMULATION & ! POSSIBILITY ( ! REALIZATION ( SURPLUS VALUE HAVE GONE ON = A C5TURY2 9 ! TW5TIES1 9 ,SISMONDI'S DISPUTES ) ,SAY1 ,RIC>DO & ,MAC,CULLO*1.<#a.> 9 ! EI<TIES & N9ETIES BETWE5 ! ,RUSSIAN ',POPULI/S'.<#b.> & ,M>XI/S4 ,! MO/ DI/+UI%$ POLITICAL ECONOMI/S 9 ,FRANCE1 ,5GL&1 ,G]MANY & ,RUSSIA AIR$ ! QUE/ION REPEAT$LY1 BO? BE=E & AFT] ! APPE>ANCE ( ,M>X'S ,CAPITAL4 ,:]EV]1 UND] ! IMPACT ( %>P SOCIAL CRITICISM1 ACTIVE 9TELLECTUAL LIFE PULSAT$ ?R\< POLITICAL ECONOMY1 ! PROBLEM LEFT NO PEACE = ! RESE>*]S4 ,IT IS A FACT ?AT ! SECOND VOLUME ( ,CAPITAL IS NOT REALLY A COMPLETE WORK1 LIKE ! FIR/1 BUT ONLY A TORSO1 A LOOSE COLLECTION ( MORE OR LESS F9I%$ FRAGM5TS & DRAFTS SU* AS A RESE>*] WRITES D[N = HIS [N UND]/&+1 ! ELABORATION ( :I* WAS REPEAT$LY HELD BACK & 9T]RUPT$ BY ILLNESS4 ,9 P>TICUL>1 ! ANALYSIS ( ! ACCUMULATION ( GROSS CAPITAL1 ) :I* WE >E DEAL+ H]E1 CAME (F WOR/1 BE+ ! LA/ *APT] ( ! MANUSCRIPT3 \T ( A VOLUME ( #ebc PAGES IT ACC\NTS = A SCANTY ?IRTY-FIVE PAGES & BREAKS (F 9 MID-FL[4 

,IT IS A FACT ?AT ?IS LA/ SECTION ( ! VOLUME1 AS ,5GELS TE/IFIES1 SEEM$ TO ,M>X HIMSELF TO BE '9 URG5T NE$ ( REVISION' & REMA9S1 ACCORD+ TO ! SAME TE/IMONY1 'ONLY A PRELIM9>Y TREATM5T ( ! SUBJECT'4 ,AS ,M>X1 9 ! PROCESS ( HIS ANALYSIS1 DEALT AGA9 & AGA9 ) ! PROBLEM ( ! REALIZATION ( SURPLUS VALUE1 HIS D\BTS APPE>$ 9 EV] DIFF]5T =MS1 & ?US HE C]TA9LY BORE WITNESS HIMSELF TO ! DIFFICULTY ( ! PROBLEM4 

,IT IS A FACT ?AT !RE >E BLATANT CONTRADICTIONS BETWE5 ! PREMISES ( ! %ORT FRAGM5T AT ! 5D ( ! SECOND VOLUME1 :]E ,M>X DEALS ) ACCUMULATION1 & ! ILLU/RATIONS ( ! ?IRD VOLUME1 :]E HE DESCRIBES ! 'TOTAL MOVEM5T ( CAPITAL'4 ,! SAME IS TRUE ( MANY IMPORTANT LAWS 9 ! FIR/ VOLUME1 :I* ,I REF] TO 9 DETAIL 9 MY BOOK4 

,IT IS A FACT ?AT1 S9CE ITS FIR/ APPE>ANCE ON ! /AGE ( HI/ORY1 CAPITALI/ PRODUCTION HAS DEMON/RAT$ ITS 5ORM\S ATTRACTION T[>DS NON-CAPITALI/ C\NTRIES4 ,IT RUNS LIKE A R$ ?READ ?R\<\T ITS DEVELOPM5T1 GR[S EV] MORE IMPORTANT UNTIL1 9 ! LA/ TW5TY-FIVE YE>S1 9 ! EPO* ( IMP]IALISM1 IT APPE>S DIRECTLY AS ! DET]M9+ & DOM9ANT FACTOR 9 SOCIAL LIFE4 

,IT IS A FACT ?AT EV]YONE KN[S ?AT !RE NEV] HAS BE51 NOR DOES !RE EXI/ AT PRES5T1 A C\NTRY ) EXCLUSIVELY CAPITALI/ PRODUCTION1 :]E !RE >E ONLY CAPITALI/S & WAGE-E>N]S4 ,! SOCIETY = :I* ! PREMISES ( ! SECOND VOLUME ( ,CAPITAL W]E DESIGN$ DOES NOT EXI/ ANY:]E 9 CONCRETE REALITY4 

,&1 DESPITE ALL ?IS1 ! (FICIAL 'EXP]TS' ( ,M>XISM EXPLA9 ?AT !RE IS NO PROBLEM ( ACCUMULATION1 ?AT EV]Y?+ HAS ALREADY BE5 SOLV$ ONCE & = ALL BY ,M>X6 ,!Y HAVE NEV] BE5 DI/URB$ BY ! REM>KABLE PRECONDITION ( ACCUMULATION 9 ! SECOND VOLUME1 !Y EV5 FAIL$ TO NOTICE IT AS ANY?+ PECULI>6 ,& N[ ?AT ! SITUATION HAS BE5 PO9T$ \T TO !M !Y F9D ?IS V]Y /RANG5ESS QUITE 9 ORD]4 ,!Y CL+ DOGG$LY TO ?IS IDEA & VIOL5TLY ATTACK ANYONE :O ?9KS HE SEES A PROBLEM :]E (FICIAL ,M>XISM HAS BE5 NO?+ BUT SELF-SATISFI$ = DECADES6 

,?IS IS SU* A BLATANT CASE ( EPIGONISM' ?AT IT CAN ONLY BE COMP>$ ) AN ANECDOTAL EV5T FROM ! REALMS ( PETTIFOGG+ ACADEMICS3 ! WELL-KN[N /ORY ( ! SO-CALL$ ',BLATTV]SETZUNG' ( ,KANT'S ,PROLEGOM5A4 

,= A C5TURY1 ! PHILOSOPHICAL WORLD >GU$ PASSIONATELY AB\T ! V>I\S PROBLEMS ( ,KANTIAN !ORY1 & AB\T ! ,PROLEGOM5A 9 P>TICUL>2 ! MEAN+ ( ,KANT'S !ORY GAVE RISE TO :OLE S*OOLS :I* F\<T BITT]LY AMONG !MSELVES4 ,BUT !N ,PR(ESSOR ,VAIH+].<#c.> CLE>$ UP ONE ( ! MO/ OBSCURE ( !SE PROBLEMS 9 ! SIMPLE/ POSSIBLE WAY - BY PO9T+ \T ?AT A P>T ( P>AGRAPH #d ( ! ,PROLEGOM5A1 :I* IS 9 FACT COMPLETELY UNRELAT$ TO ! RE/ ( ! *APT]1 BELONG$ 9 P>AGRAPH #b3 IT HAD JU/ BE5 DETA*$ BY A PR9T+ ]ROR 9 ! ORIG9AL $ITION & BE5 PUT 9 ! WRONG PLACE4 ,& ANYONE :O N[ READS ! TEXT /RAI<T=W>DLY CAN IMM$IATELY SEE ?IS4 ,BUT NOT ! CLIQUI% ACADEMICS :O = A C5TURY HAD BE5 CON/RUCT+ PR(\ND !ORIES UPON A PR9T+ ]ROR4 ,& !RE ACTUALLY WAS A P$ANTIC ACADEMIC1 A PR(ESSOR 9 ,BONN1 :O DEMON/RAT$ 9 F\R 9DIGNANT >TICLES 9 ! ,PHILOSOPHIS*E ,MONAT%EFTE ?AT ! 'ALLEG$ 0,BLATTV]SETZUNG0' DID NOT EXI/1 ?AT IT WAS PRECISELY ?IS PR9T+ ]ROR :I* EXPRESS$ ! SOLE CORRECT & UNADULT]AT$ ,KANT1 & ?AT :OEV] D>$ TO LOCATE A PR9T+ ]ROR !RE HAD NOT UND]/OOD ! SMALLE/ GRA9 ( ,KANT'S PHILOSOPHY4 

,?IS IS ! SORT ( WAY 9 :I* ! 'EXP]TS' N[ CL+ ON TO ! PREMISES ( ! SECOND VOLUME ( ,M>X'S ,CAPITAL & ! MA!MATICAL MODELS :I* >E BUILT UPON IT4 ,! MA9 D\BT ( MY CRITIQUE IS DIRECT$ T[>DS ! FACT ?AT1 ON ! QUE/ION ( ACCUMULATION1 MA!MATICAL MODELS CAN PROVE ABSOLUTELY NO?+1 S9CE !IR HI/ORICAL PREMISE IS UNT5ABLE4 ,! REPLY IS3 BUT ! MODELS WORK \T EXACTLY1 SO ! PROBLEM ( ACCUMULATION IS SOLV$ - IT SIMPLY DOESN'T EXI/4 

,H]E IS AN EXAMPLE ( ! OR?ODOX CULT ( =MULAS4 

,9 ,NEUE ,ZEIT ,OTTO ,BAU].<#d.> EMB>KS ON AN 9VE/IGATION ( ! QUE/ION ,I POS$ - H[ IS SURPLUS VALUE REALIZ$ - 9 ! FOLL[+ FA%ION4 ,HE CON/RUCTS F\R L>GE TABLES ( FIGURES 9 :I* ,ROMAN LETT]S ALONE1 SU* AS ,M>X US$ = ! ABBREVIAT$ ANNOTATION ( V>IABLE & CON/ANT CAPITAL1 >E NOT 5\<4 ,BAU] ADDS ON A FEW ,GREEK LETT]S4 ,?IS MAKES HIS TABLES LOOK EV5 MORE 9TIMIDAT+ ?AN ALL ! MODELS 9 ,M>X'S ,CAPITAL4 ,) ?IS CONTRAPTION HE !N TRIES TO %[ H[ ! CAPITALI/S1 AFT] R5EW+ ! US$ CAPITAL1 DISPOSE ( ! EXCESS COMMODITIES :I* CONTA9 ! SURPLUS VALUE :I* IS TO BE TURN$ 9TO CAPITAL = !M3 ',& FUR!RMORE 7AFT] REPLAC+ ! OLD MEANS ( PRODUCTION71 ! CAPITALI/S WANT TO USE ! SURPLUS VALUE ACCUMULAT$ 9 ! FIR/ YE> TO 5L>GE EXI/+ OP]ATIONS OR E/ABLI% NEW ONES4 ,IF 9 ! NEXT YE> !Y WANT TO USE CAPITAL :I* HAS GR[N BY #a#b1#e !Y MU/ BUILD NEW WORK%OPS1 BUY NEW MA*9ES & 9CREASE !IR SUPPLY ( RAW MAT]IALS1 ETC41 ETC41 ?IS YE>4'.<#e.> 

,?US ! PROBLEM IS SAID TO BE SOLV$4 ,IF '! CAPITALI/S WANT' TO EXP& PRODUCTION1 !N ( C\RSE !Y NE$ MORE MEANS ( PRODUCTION ?AN BE=E & SO ACT MUTUALLY AS !IR [N CONSUM]S4 ,AT ! SAME TIME1 !Y NE$ MORE WORK]S & MORE PROVISIONS = !SE WORK]S1 :I* !Y MAKE !MSELVES ANYWAY4 ,?IS DEALS ) ! 5TIRE SURPLUS ( MEANS ( PRODUCTION & PROVISIONS1 & ACCUMULATION CAN BEG94 ,AS ONE CAN SEE1 EV]Y?+ DEP5DS ON :E!R ! CAPITALI/S 'WANT' TO UND]TAKE AN EXPANSION ( PRODUCTION4 ,& :Y NOT8 ,WELL1 ( C\RSE1 '!Y WANT TO'4 ',CONSEQU5TLY1 ! 5TIRE PRODUCTIVE VALUE ( BO? SPH]ES1 ?US ALSO ! 5TIRE SURPLUS VALUE1 IS REALIZ$1' ,BAU] EXPLA9S TRIUMPHANTLY1 & FROM ?IS HE CONCLUDES3 

',SIMIL>LY1 ,TABLE ,I,V CLE>LY %[S ?AT ! TOTAL PRODUCTIVE VALUE ( BO? SPH]ES IS DISPOS$ ( )\T ANY TR\BLE & ! TOTAL SURPLUS VALUE IS REALIZ$1 NOT ONLY 9 ! FIR/ YE>1 BUT 9 EA* SUBSEQU5T YE>4 ,COMRADE ,LUXEMBURG IS ?US 9CORRECT 9 H] ASSUMPTION ?AT ! ACCUMULAT$ P>T ( SURPLUS VALUE CANNOT BE REALIZ$4'.<#f.> 

,BAU] HAS SIMPLY NOT NOTIC$ ?AT HE DID NOT NE$ NE>LY SU* LONG & DETAIL$ CALCULATIONS ) F\R TABLES1 ) WIDE1 L5G?Y1 OVAL-BRACKET$ & F\R-/ORI$ =MULAS TO REA* ?IS BRILLIANT CONCLUSION4 ,! CONCLUSION :I* ,BAU] HAS REA*$ DOES NOT EV5 FOLL[ FROM HIS TABLES2 HE SIMPLY TAKES IT AS GIV54 ,BAU] SIMPLY ASSUMES :AT WAS TO BE PROV5 - ?AT IS ALL HIS :OLE 'PRO(' CONSI/S (4 

,IF ! CAPITALI/S WANT TO 5L>GE PRODUCTION BY AS MU* AS !Y POSSESS 9 SURPLUS CAPITAL1 !N ALL !Y HAVE TO DO IS PUT ?IS SURPLUS CAPITAL 9TO !IR [N PRODUCTION 7PROVID+1 ( C\RSE1 ?AT !Y PRODUCE ABSOLUTELY ALL ! NECESS>Y MEANS ( PRODUCTION & PROVISIONS !MSELVES67 - !N !Y >E LEFT ) NO UNSALEABLE COMMODITY SURPLUS4 ,CAN ANY?+ BE MORE SIMPLE1 & >E ANY NONS5SICAL =MULAS ) ,ROMAN & ,GREEK LETT]S NE$$ ACTUALLY TO 'PROVE' SOME?+ SO OBVI\S8 

,BUT !N ! QUE/ION >OSE AS TO :E!R ! CAPITALI/S1 :O ( C\RSE ALWAYS 'WANT' TO ACCUMULATE1 CAN ALSO DO SO1 ?AT IS1 :E!R !Y CAN F9D A CONT9UALLY EXP&+ M>KET = EXP&$ PRODUCTION1 & :]E SU* A M>KET IS TO BE F\ND8 ,& ! ANSW] TO ?AT CANNOT COME FROM ANY >I?METICAL OP]ATIONS ) FICTITI\S NUMB]S ON ! PAP]1 BUT ONLY FROM AN ANALYSIS ( ! SOCIO-ECONOMIC RELATIONS ( PRODUCTION4 

,IF ONE ASKS ! 'EXP]TS'3 ',YES1 ALL WELL & GOOD1 ! CAPITALI/S 0WANT0 TO EXP& PRODUCTION1 BUT !N :O >E !Y GO+ TO SELL !IR 9CREAS$ AM\NT ( COMMODITIES TO8' !Y ANSW]3 ',! CAPITALI/S WILL ALWAYS CONSUME ?IS 9CREAS+ AM\NT ( COMMODITIES !MSELVES1 BECAUSE !Y ALWAYS 0WANT0 TO EXP& PRODUCTION4' 

',& ! MODELS %[ :O BUYS ! PRODUCTS1' ! ,VORW>TS REVIEW]1 ,G4 ,ECK/E91 EXPLA9S4.<#g.> 

,TO BE BRIEF3 EA* YE> ! CAPITALI/S EXP& BY EXACTLY AS MU* AS !Y HAVE 'SAV$ UP' 9 SURPLUS VALUE2 !Y >E !IR [N CONSUM]S & ?US ! M>KET DOES NOT BO!R !M4 ,?IS ASSUMPTION IS ! />T+-PO9T ( ! :OLE 'PRO('4 ,BUT A MA!MATICAL =MULATION IS BO? UNNECESS>Y = ?IS ASSUMPTION & COMPLETELY 9CAPABLE ( PROV+ IT4 ,! NAIVE IDEA ?AT MA!MATICAL =MULAS C\LD PROVE ! MA9 PO9T H]E - ! ECONOMIC POSSIBILITY ( SU* AN ACCUMULATION - IS ! AMUS+ QUID PRO QUO ( ! 'EXP]T' CU/ODIANS ( ,M>XISM4 ,9 ITSELF IT IS 5\< TO MAKE ,M>X TURN 9 HIS GRAVE4 

,M>X HIMSELF NEV] DREAM$ ( PRES5T+ HIS [N MA!MATICAL MODELS AS ANY SORT ( PRO( ?AT ACCUMULATION WAS 9 FACT POSSIBLE 9 A SOCIETY CONSI/+ SOLELY ( CAPITALI/S & WORK]S4 ,M>X 9VE/IGAT$ ! 9T]NAL ME*ANISM ( CAPITALI/ ACCUMULATION & E/ABLI%$ C]TA9 ECONOMIC LAWS ON :I* ! PROCESS IS BAS$4 ,HE />T$ R\<LY LIKE ?IS3 IF ! ACCUMULATION ( GROSS CAPITAL1 ?AT IS1 9 ! 5TIRE CLASS ( CAPITALI/S1 IS TO TAKE PLACE1 !N C]TA9 QUITE EXACT QUANTITATIVE RELATIONS MU/ EXI/ BETWE5 ! TWO L>GE DEP>TM5TS ( SOCIAL PRODUCTION3 ! PRODUCTION ( MEANS ( PRODUCTION & ! PRODUCTION ( MEANS ( CONSUMPTION4 ,PROGRESSIVE EXPANSION ( PRODUCTION &2 AT ! SAME TIME1 PROGRESSIVE ACCUMULATION ( CAPITAL - :I* IS ! OBJECT ( IT ALL - CAN ONLY PROCE$ UNH9D]$ IF SU* RELATIONS >E MA9TA9$ SO ?AT ! ONE L>GE DEP>TM5T ( PRODUCTION CONT9U\SLY WORKS H&-9-H& ) ! O!R4 ,M>X SKET*$ A MA!MATICAL EXAMPLE1 A MODEL ) IMAG9>Y NUMB]S1 TO ILLU/RATE HIS ?\<TS CLE>LY & EXACTLY1 & HE USES IT TO %[ ?AT IF ACCUMULATION IS TO PROCE$1 !N ! 9DIVIDUAL PO9TS 9 ! MODEL 7CON/ANT CAPITAL1 V>IABLE CAPITAL1 SURPLUS VALUE7 MU/ BEHAVE 9 SU* & SU* A WAY TO EA* O!R4 

,CLE>LY1 = ,M>X1 MA!MATICAL MODELS >E EXAMPLES1 ILLU/RATIONS ( HIS ECONOMIC ?\<TS1 JU/ AS ,QUESNAY'S ,TABLEAU ECONOMIQUE.<#h.> WAS = HIS !ORY1 OR AS ! MAPS FROM V>I\S AGES >E ILLU/RATIONS ( :AT W]E !N DOM9ANT A/RONOMICAL & GEOGRAPHICAL CONCEPTS4 ,:E!R ! LAWS ( ACCUMULATION :I* ,M>X CON/RUCT$1 OR MORE EXACTLY 9DICAT$ SKET*ILY1 >E CORRECT OR NOT CAN OBVI\SLY BE PROV$ ONLY BY ECONOMIC ANALYSIS1 COMP>ISON ) O!R LAWS SET UP BY ,M>X1 CONSID]ATION ( V>I\S CONSEQU5CES TO :I* !Y LEAD1 EXAM9ATION ( ! PREMISES FROM :I* !Y PROCE$1 & SO ON4 ,BUT :AT IS ONE TO ?9K ( ',M>XI/S' :O REJECT ANY SU* CRITICISM AS LUNACY1 S9CE ! CORRECTNESS ( ! LAWS IS PROV5 BY ! MA!MATICAL MODELS6 ,I D\BT :E!R ACCUMULATION C\LD PROCE$ 9 A SOCIETY COMPOS$ SOLELY ( CAPITALI/S & WORK]S1 SU* AS ! ONE ON :I* ,M>X'S MODELS >E BAS$1 & ,I BELIEVE ?AT ! DEVELOPM5T ( CAPITALI/ PRODUCTION CANNOT 9 G5]AL BE FITT$ 9TO A S*EMATIC RELATION BETWE5 PURE CAPITALI/ CONC]NS AT ALL4 ,! ANSW] ( ! 'EXP]TS' IS3 ,BUT IT'S C]TA9LY POSSIBLE6 ,?AT IS DEMON/RAT$ BRILLIANTLY 'BY ,TABLE ,I,V'1 '& ! MODELS %[ 444' - I4E4 ! FACT ?AT A R[ ( NUMB]S ON A PIECE ( PAP] ?\<T UP = ! PURPOSE ( ILLU/RATION CAN BE ADD$ & SUBTRACT$ AT WILL6 

,9 OLD5 TIMES PEOPLE BELIEV$ 9 ! EXI/5CE ( ALL K9DS ( FABUL\S CREATURES3 DW>FS1 PEOPLE ) ONE EYE1 ) ONE >M & LEG1 & SO ON4 ,DOES ANYBODY BELIEVE ?AT SU* CREATURES EV] REALLY EXI/$8 ,BUT WE SEE !M DRAWN 9 PRECISELY ON ! OLD MAPS4 ,IS ?AT NOT PRO( ?AT ?OSE CONCEPTIONS ( ! ANCI5TS CORRESPOND$ EXACTLY ) REALITY8 

,BUT LET US TAKE A DULL EXAMPLE4 

,A CO/+ IS PRODUC$ = ! PLANN$ CON/RUCTION ( A RAILWAY FROM T[N ,X TO T[N ,Y2 PRECISE CALCULATIONS >E MADE AS TO H[ L>GE ! ANNUAL PASS5G] & GOODS TRAFFIC HAS TO BE SO ?AT1 AP>T FROM DEPRECIATION1 RUNN+ OP]ATIONAL CO/S & ! NORMAL 'RES]VES'1 A 'REASONABLE' DIVID5D CAN BE DI/RIBUT$1 %ALL WE SAY FIR/ #e P] C5T1 !N #h P] C5T4 ,NATURALLY1 ! C5TRAL QUE/ION = ! F\ND]S ( ! RAILWAY COMPANY IS :E!R !Y CAN EXPECT ! PASS5G] & GOODS TRAFFIC ON ! PROPOS$ /RET* :I* W\LD 5SURE ! PR(ITABILITY CALCULAT$ 9 ! CO/+4 ,CLE>LY1 ! ANSW] TO ?IS CAN ONLY COME FROM PRECISE & BASIC FACTS AB\T ! PREVI\S TRAFFIC ON ! /RET*1 ITS IMPORTANCE = COMM]CE & 9DU/RY1 ! POPULATION GR[? ( ! ADJAC5T T[NS & VILLAGES & O!R FACTS CONC]N+ ECONOMIC & SOCIAL RELATIONS4 ,N[1 :AT W\LD ONE SAY TO A MAN :O EXCLAIM$3 ,Y\ ASK1 :]E WILL ! PR(IT ( ! L9E COME FROM8 ,I BEG Y\R P>DON1 BUT ?AT IS D[N 9 BLACK & :ITE 9 ! CO/+4 ,Y\ CAN READ !RE ?AT IT COMES FROM ! PASS5G] & GOODS TRAFFIC1 & ?AT ! TAK+S FROM ?IS WILL PROVIDE FIR/ = A #e P] C5T1 !N = AN #h P] C5T DIVID5D4 ,IF Y\ CAN'T SEE ?AT1 G5TLEM51 !N Y\ HAVE SIMPLY COMPLETELY MISUND]/OOD ! NATURE1 AIM & SIGNIFICANCE ( ! CO/+4.<#i.> 

,9 SOB] CIRCLES ONE W\LD PROBABLY 9DICATE1 ) A %RUG ( ONE'S %\LD]S T[>DS ! KN[-ALL1 ?AT HE BELONG$ 9 ! LUNATIC ASYLUM OR ! NURS]Y4 ,BUT AMONG ! (FICIAL CU/ODIANS ( ,M>XISM SU* KN[-ALLS =M ! 'SUPREME C\RT' ( 'EXP]TS' :O GIVE REPORTS ON :E!R O!R PEOPLE HAVE UND]/OOD OR MISUND]/OOD ! 'NATURE1 AIM & SIGNIFICANCE ( ,M>X'S MODELS'6 

,:AT1 !N1 IS ! ESS5CE ( ! >GUM5T :I* ! MODELS ALLEG$LY 'PROVE'8 ,MY OBJECTION WAS ?AT1 = ACCUMULATION TO TAKE PLACE1 IT MU/ BE POSSIBLE TO SELL COMMODITIES 9 9CREAS+ QUANTITY 9 ORD] TO CONV]T ! PR(IT 9H]5T 9 !M 9TO MONEY4 ,ONLY !N IS IT POSSIBLE TO CONT9UE EXP&+ PRODUCTION1 !RE=E TO CONT9UE ACCUMULATION4 ,:]E DO ! CAPITALI/S AS AN 5TIRE CLASS F9D ?IS M>KET8 ,MY CRITICS ANSW] ?AT !Y =M !IR [N M>KET4 ,AS !Y CONT9UALLY EXP& !IR [N OP]ATIONS 7OR />T NEW ONES71 !Y !MSELVES NE$ MORE & MORE MEANS ( PRODUCTION = !IR FACTORIES & PROVISIONS = !IR WORK]S4 ,CAPITALI/ PRODUCTION IS ITS [N M>KET1 ?US ! LATT] GR[S AUTOMATICALLY ) ! GR[? ( PRODUCTION4 ,BUT FROM ! /&PO9T ( CAPITAL ! MA9 QUE/ION IS3 CAN CAPITALI/ PR(IT BE OBTA9$ OR ACCUMULAT$ 9 ?IS WAY8 ,ONLY !N C\LD !RE BE ANY TALK ( CAPITAL ACCUMULATION4 

,LET US TAKE ANO!R SIMPLE EXAMPLE3 CAPITALI/ ,A PRODUCES COAL1 CAPITALI/ ,B MANUFACTURES MA*9ES1 CAPITALI/ ,C MAKES FOOD4 ,LET US IMAG9E ?AT !SE ?REE CAPITALI/S =M ! 5TIRETY ( CAPITALI/ EMPLOY]S4 ,IF ,B MAKES MORE & MORE MA*9ES1 ,A CAN SELL HIM MORE & MORE COAL & ?US CAN BUY MORE & MORE MA*9ES FROM HIM1 :I* HE USES = M9+4 ,BO? NE$ MORE & MORE WORK]S1 & !SE NE$ MORE & MORE PROVISIONS1 SO ,C TOO F9DS AN EV] GREAT] M>KET & ?US HE 9 TURN BECOMES AN EV] L>G] CONSUM] ( BO? COAL & MA*9ES4 ,! :OLE ?+ REVOLVES 9 EV] HI<] CIRCLES - AS LONG AS WE >E W&]+ AB\T 9 ?9 AIR4 ,BUT LET US EXAM9E ! SUBJECT MORE CONCRETELY4 

,TO ACCUMULATE CAPITAL DOES NOT MEAN TO PRODUCE HI<] & HI<] M\NTA9S ( COMMODITIES1 BUT TO CONV]T MORE & MORE COMMODITIES 9TO MONEY CAPITAL4 ,BETWE5 ! ACCUMULATION ( SURPLUS VALUE !RE ALWAYS LIES A DECISIVE LEAP1 ! SALTO MORTALE ( COMMODITY PRODUCTION1 AS ,M>X CALLS IT3 SELL+ = MONEY4 ,IS ?IS P]HAPS ONLY VALID = ! 9DIVIDUAL CAPITALI/1 BUT NOT = ! 5TIRE CLASS1 = SOCIETY AS A :OLE8 ,DEF9ITELY NOT4 ,= 9 ! SOCIAL OBS]VATION ( PH5OM5A '444 WE MU/ NOT1' SAYS ,M>X1 'LAPSE 9TO ! MANN] COPI$ BY ,PR\DHON.<#a.> FROM B\RGEOIS ECONOMY & LOOK UPON ?IS MATT] AS ?\< A SOCIETY ) A CAPITALI/ MODE ( PRODUCTION1 IF VIEW$ 5 BLOC1 AS A TOTALITY1 W\LD LOSE ?IS ITS SPECIFIC HI/ORICAL & ECONOMIC *>ACT]4 ,NO1 ON ! CONTR>Y4 ,WE HAVE1 9 ?AT CASE1 TO DEAL ) ! AGGREGATE CAPITALI/4'.<#a#a.> 

,N[1 ! ACCUMULATION ( PR(IT AS MONEY PR(IT IS JU/ SU* A SPECIFIC & QUITE ESS5TIAL *>ACT]I/IC ( CAPITALI/ PRODUCTION1 & IS AS VALID = ! CLASS AS IT IS = ! 9DIVIDUAL EMPLOY]4 ,M>X HIMSELF ALSO EMPHASIZES1 PRECISELY ) ! OBS]VATION ( ! ACCUMULATION ( GROSS CAPITAL1 '444 ! =MATION ( NEW MONEY CAPITAL :I* ACCOMPANIES ACTUAL ACCUMULATION & NECESSITATES IT UND] CAPITALI/ PRODUCTION 444'.<#a#b.> ,& 9 ! PROCESS ( HIS 9VE/IGATION HE RETURNS AGA9 & AGA9 TO ! QUE/ION3 H[ IS IT POSSIBLE = ! CLASS ( CAPITALI/S TO ACCUMULATE MONEY CAPITAL8 

,LET US N[ EXAM9E ! 9TELLIG5T CONCEPTION ( ! 'EXP]TS' FROM ?IS PO9T ( VIEW4 ,CAPITALI/ ,A SELLS HIS COMMODITIES TO ,B1 & SO RECEIVES SURPLUS VALUE 9 MONEY FROM ,B4 ,! LATT] SELLS HIS COMMODITIES TO ,A & RECEIVES ! MONEY BACK FROM ,A1 :I* CONV]TS HIS SURPLUS VALUE 9TO MONEY4 ,BO? SELL !IR COMMODITIES TO ,C & SO ALSO RECEIVE A SUM ( MONEY = !IR SURPLUS VALUE FROM ! SAME ,C4 ,BUT :]E DOES ! LATT] GET HIS MONEY FROM8 ,FROM ,A & ,B4 ,ACCORD+ TO \R PREMISE !RE >E NO O!R S\RCES = ! REALIZATION ( SURPLUS VALUE1 I4E4 NO O!R COMMODITY CONSUM]S4 ,BUT CAN NEW MONEY CAPITAL BE =M$ 9 ?IS WAY TO 5RI* ,A1 ,B & ,C8 ,LET US = A MOM5T ASSUME ?AT ) ALL ?REE ! QUANTITY ( COMMODITIES = EX*ANGE GR[S1 PRODUCTION EXP&S UN9T]RUPT$1 & !RE=E1 ! AM\NTS ( SURPLUS VALUE EXPRESS$ 9 COMMODITIES CAN GR[4 ,EXPLOITATION IS COMPLETE1 ! POSSIBILITY ( 5RI*M5T1 ( ACCUMULATION1 HAS COME4 ,BUT EX*ANGE1 ! REALIZATION ( ! 9CREAS$ SURPLUS VALUE 9 9CREAS$ NEW MONEY CAPITAL1 HAS TO TAKE PLACE 9 ORD] = POSSIBILITY TO BECOME REALITY4 ,NOTICE ?AT WE DO NOT ASK H]E1 AS ,M>X (T5 DOES 9 ! SECOND VOLUME ( ,CAPITAL3 :]E DOES ! MONEY = ! CIRCULATION ( SURPLUS VALUE COME FROM8 TO ANSW] F9ALLY3 FROM ! GOLD-M9]4 ,WE ASK RA!R3 H[ DOES NEW MONEY CAPITAL COME 9TO ! POCKETS ( ! CAPITALI/S1 S9CE 7AP>T FROM ! WORK]S7 !Y >E ! ONLY ONES :O CAN CONSUME EA* O!R'S COMMODITIES8 ,H]E MONEY CAPITAL W&]S CONT9U\SLY \T ( ONE POCKET 9TO ! O!R4 

,BUT WAIT3 P]HAPS SU* QUE/IONS >E PUTT+ US ON QUITE ! WRONG TRACK4 ,P]HAPS PR(IT ACCUMULATION DOES TAKE PLACE 9 ?IS CEASELESS W&]+ FROM ONE CAPITALI/'S POCKET 9TO ! O!R1 9 ! SUCCESSIVE REALIZATION ( PRIVATE PR(ITS1 :]E ! AGGREGATE AM\NT ( MONEY CAPITAL DOES NOT EV5 HAVE TO GR[1 BECAUSE SU* A ?+ AS ! 'AGGREGATE PR(IT' ( ALL CAPITALI/S DOES NOT EXI/ \TSIDE ( OBSCURE !ORY8 

,BUT - OH DE> - SU* AN ASSUMPTION W\LD SIMPLY LEAD US TO ?R[ ! ?IRD VOLUME ( ,M>X'S ,CAPITAL 9TO ! FIRE4 ,= ! DOCTR9E ( AV]AGE PR(IT1 ONE ( ! MO/ IMPORTANT DISCOV]IES ( ,M>X'S ECONOMIC !ORY1 IS C5TRAL TO ITS >GUM5T4 ,?IS ALONE GIVES CONCRETE MEAN+ TO ! !ORY ( VALUE 9 ! FIR/ VOLUME - ON :I* >E BAS$ BO? ! !ORY ( SURPLUS VALUE & ! SECOND VOLUME1 SO !SE W\LD ALSO HAVE TO F9D !IR WAY 9TO ! FIRE4 ,M>X'S ECONOMIC !ORY /&S & FALLS ) ! CONCEPT ( GROSS SOCIAL CAPITAL AS A CONCRETE AM\NT1 :I* F9DS ITS TANGIBLE EXPRESSION 9 AGGREGATE CAPITALI/ PR(IT & ITS DI/RIBUTION1 & :OSE 9VISIBLE MOVEM5T 9ITIATES ALL VISIBLE MOVEM5TS ( 9DIVIDUAL SUMS ( CAPITAL4 ,GROSS CAPITALI/ PR(IT IS1 9 FACT1 A MU* MORE MAT]IAL ECONOMIC AM\NT ?AN1 = 9/ANCE1 ! TOTAL SUM ( PAID WAGES AT ANY GIV5 TIME4 ,= ! LATT] APPE>S AS A /ATI/ICAL NUMB] ONLY AFT] RETROSPECTIVE ADDITION OV] A P]IOD ( TIME1 :IL/ AGGREGATE PR(IT1 ON ! O!R H&1 EXPRESSES ITSELF 9 ! ECONOMIC ME*ANISM AS A :OLE1 S9CE COMPETITION & PRICE FLUCTUATION >E ALWAYS DI/RIBUT+ IT AMONG 9DIVIDUAL SUMS ( CAPITAL AS AV]AGE PR(IT OR AS EXTRA PR(IT4 

,SO ! PROBLEM REMA9S3 GROSS SOCIAL CAPITAL CONT9UALLY REALIZES AN AGGREGATE PR(IT 9 MONEY-=M1 :I* MU/ CONT9UALLY GR[ = GROSS ACCUMULATION TO TAKE PLACE4 ,N[1 H[ CAN ! AM\NT GR[ IF ITS COMPON5T P>TS >E ALWAYS CIRCULAT+ FROM ONE POCKET TO ANO!R8 

,IT W\LD APPE> ?AT - AS WE HAVE ASSUM$ UP UNTIL N[ - AT LEA/ ! AGGREGATE AM\NT ( COMMODITIES :I* CONTA9 ! PR(IT CAN GR[ 9 ?IS WAY1 & ! ONLY DIFFICULTY LIES 9 SUPPLY+ ! MONEY1 :I* IS P]HAPS ONLY A TE*NICAL QUE/ION ( MONEY CIRCULATION4 ,BUT ONLY APP>5TLY1 SUP]FICIALLY4 ,! AGGREGATE AM\NT ( COMMODITIES WILL NOT 9CREASE1 EXPANSION ( PRODUCTION CANNOT TAKE PLACE1 BECAUSE 9 CAPITALI/ PRODUCTION ! ESS5TIAL PRECONDITION = ?IS IS CONV]SION 9TO MONEY1 ! UNIV]SAL REALIZATION ( PR(IT4 ,! SALE ( 9CREAS+ AM\NTS ( COMMODITIES1 & ! REALIZATION ( PR(IT1 FROM ,A TO ,B1 ,B TO ,C & ,C BACK AGA9 TO ,A & ,B CAN ONLY TAKE PLACE IF AT LEA/ ONE ( !M CAN 9 ! 5D F9D A M>KET \TSIDE ! CLOS$ CIRCLE4 ,IF ?IS DOES NOT HAPP5 ! R\NDAB\T WILL GR9D TO A HALT AFT] ONLY A FEW TURNS4 

,ON ! BASIS ( ?IS ONE CAN APPRECIATE ! PR(UNDITY ( MY 'EXP]T' CRITICS :5 !Y EXCLAIM3 

,:5 ,COMRADE ,LUXEMBURG CONT9UES3 ,WE >E CLE>LY GO+ R\ND 9 CIRCLES4 ,FROM ! PO9T ( VIEW ( ! CAPITALI/S IT IS ABSURD TO PRODUCE MORE MEANS ( CONSUMPTION JU/ TO MA9TA9 MORE WORK]S1 & TO PRODUCE MORE MEANS ( PRODUCTION JU/ TO GIVE ?IS 9CREAS$ LABOR =CE SOME?+ TO DO6 - IT IS DIFFICULT TO FA?OM ! RELEVANCE ( !SE WORDS TO ,M>X'S MODELS4 ,! OBJECT ( CAPITALI/ PRODUCTION IS PR(IT3 ?IS COMES TO ! CAPITALI/S FROM ! PROCESS DESCRIB$1 & IS !RE=E NOT ! LEA/ BIT ABSURD FROM ! CAPITALI/ PO9T ( VIEW2 ON ! CONTR>Y1 FROM ?IS PO9T ( VIEW IT IS ! V]Y EMBODIM5T ( REASON1 I4E4 ( ! /RIV+ AFT] PR(IT4.<#a#c.> 

,9 PO9T ( FACT1 IT IS 'DIFFICULT TO FA?OM' :I* IS GREAT] H]E1 ! NAIVELY ADMITT$ COMPLETE 9CAPABILITY ( GO+ DEEPLY 9TO ! BASIC ,M>XI/ !ORY ( GROSS SOCIAL CAPITAL AS OPPOS$ TO 9DIVIDUAL CAPITAL1 OR ! COMPLETE LACK ( COMPREH5SION ( ! QUE/ION ,I POS$4 ,I SAY3 PRODUCTION TO AN EV] GREAT] EXT5T = PRODUCTION'S SAKE IS1 FROM ! CAPITALI/ PO9T ( VIEW1 ABSURD1 BECAUSE 9 ?IS WAY - ACCORD+ TO ! PREMISE :I* ! 'EXP]TS' CL+ TO - IT IS IMPOSSIBLE = ! 5TIRE CLASS ( CAPITALI/S TO REALIZE PR(IT1 & !RE=E TO ACCUMULATE4 ,! ANSW] IS3 ,BUT ?AT IS BY NO MEANS ABSURD1 BECAUSE ?AT IS ! WAY PR(IT IS ACCUMULAT$6 ,& H[ DO Y\ KN[ ?AT1 OH EXP]TS8 ,N[1 IT IS %[N 444 9 ! MA!MATICAL MODELS ?AT PR(IT IS 9 FACT ACCUMULAT$4 ,9 ?OSE MODELS1 9TO :I* WE HAVE >BITR>ILY WRITT5 R[S & R[S ( NUMB]S1 ) :I* MA!MATICAL OP]ATIONS RUN FAULTLESSLY1 & 9 :I* MONEY CAPITAL IS 5TIRELY NEGLECT$4 

,CLE>LY1 ALL CRITICISM MU/ HOPELESSLY %ATT] ITSELF AGA9/ !SE /URDY 'EXP]TS'1 BECAUSE ! EXP]TS SIMPLY LOOK FROM ! PO9T ( VIEW ( ! 9DIVIDUAL CAPITALI/S1 :I* IS TO SOME DEGREE SUFFICI5T = ! ANALYSIS ( EXPLOITATION1 I4E4 ( ! PROCESS ( PRODUCTION1 & ?US TO UND]/& ! FIR/ VOLUME ( ,CAPITAL1 BUT IS TOTALLY 9SUFFICI5T :]E ! CIRCULATION & REPRODUCTION ( CAPITAL >E CONC]N$4 ,! SECOND & ?IRD VOLUMES ( ,M>X'S ,CAPITAL1 :I* >E ILLUM9$ BY ! BASIC CONCEPT ( GROSS SOCIAL CAPITAL1 >E = !M DEAD CAPITAL1 9 :I* !Y HAVE LE>N$ LETT]S1 =MULAS1 'MODELS'1 BUT HAVE MISS$ ! ESS5CE4 ,M>X HIMSELF WAS C]TA9LY NO 'EXP]T'4 ,= HE WAS NOT CONT5T ) ! >I?METICAL 'PROCESS' ( HIS MODELS2 AGA9 & AGA91 HE ASK$3 H[ IS IT POSSIBLE = G5]AL ACCUMULATION TO TAKE PLACE1 = NEW MONEY CAPITAL TO BE =M$ 9 ! CLASS ( CAPITALI/S8 ,IT HAS ALWAYS BE5 ! PRIVILEGE ( ! 'EPIGONES' TO TAKE F]TILE HYPO!SES1 TURN !M 9TO RIGID DOGMA1 & BE SMUGLY SATISFI$1 :]E A PIONE]+ M9D WAS FILL$ ) CREATIVE D\BT4 

,! 'EXP]TS'1 PO9T ( VIEW1 H[EV]1 LEADS TO A /R+ ( 9TRIGU+ CONSEQU5CES1 :I* !Y HAVE OBVI\SLY NOT TAK5 ! TR\BLE TO ?9K OV]4 

,FIR/ CONSEQU5CE3 IF CAPITALI/ PRODUCTION CAN ACT LIMITLESSLY AS ITS [N CONSUM]1 I4E4 PRODUCTION & M>KET >E ID5TICAL1 IT BECOMES TOTALLY IMPOSSIBLE TO EXPLA9 ! P]IODIC APPE>ANCE ( CRISES4 ,IF PRODUCTION CAN1 'AS ! MODELS %['1 ACCUMULATE AT WILL BY US+ ITS [N GR[? = NEW EXPANSION1 IT IS PUZZL+ H[ & :Y CIRCUM/ANCES CAN >ISE :]E CAPITALI/ PRODUCTION CANNOT F9D A SUFFICI5T M>KET = ITS COMMODITIES4 ,ACCORD+ TO ! =MULA ( ! EXP]TS1 ALL IT HAS TO DO IS SWALL[ UP ! COMMODITY SURPLUS ITSELF1 & PUT IT 9TO PRODUCTION 7P>TLY AS MEANS ( PRODUCTION1 P>TLY AS PROVISION = ! WORK]S71 '9 EA* SUBSEQU5T YE>' AS ,OTTO ,BAU]'S ',TABLE ,I,V' %[S4 ,! 9DIGE/IBLE COMMODITIES W\LD !N BE CONV]T$ 9TO ! NEW BLESS+ ( ACCUMULATION & PR(IT-MAK+4 ,AT ALL EV5TS1 IT TURNS ! SPECIFIC ,M>XI/ CONCEPT ( CRISIS 9TO AN ABSURDITY1 ACCORD+ TO :I* CRISES COME FROM ! T5D5CY ( CAPITAL TO \TGR[ EA* GIV5 LIMIT TO ! M>KET 9 EV] %ORT] TIME4 ,= H[ C\LD PRODUCTION \TGR[ ! M>KET1 S9CE IT IS ITS [N M>KET1 ?US ! M>KET AUTOMATICALLY GR[S AS FA/ AS PRODUCTION8 ,9 O!R WORDS1 H[ C\LD CAPITALI/ PRODUCTION P]IODICALLY \TGR[ ITSELF8 ,IT C\LD DO IT AS EASILY AS SOMEONE CAN JUMP OV] HIS [N %AD[4 ,! CAPITALI/ CRISIS BECOMES AN 9EXPLICABLE PH5OM5ON4 ,OR !RE IS ONLY ONE EXPLANATION LEFT = IT3 ! CRISIS DOES NOT COME FROM ! 9CONGRUITY BETWE5 ! ABILITY ( CAPITALI/ PRODUCTION & ?AT ( ! M>KET TO EXP&1 BUT ONLY FROM ! DISPROPORTIONATE RELATIONS BETWE5 DIFF]5T BRAN*ES ( CAPITALI/ PRODUCTION4 ,9 !MSELVES1 !SE C\LD BE QUITE SUFFICI5T CONSUM]S = !MSELVES1 EXCEPT ?AT1 AS A RESULT ( AN>*Y1 SEV]AL ?+S >E NOT CORRECTLY PROPORTION$1 TOO MU* ( ONE1 TOO LITTLE ( ! O!R BE+ PRODUC$4 ,?IS W\LD MEAN REJECT+ ,M>X & F9ALLY 5D+ UP ) ! MAN :OM ,M>X RIDICUL$ SO ?OR\<LY1 ! PATRI>* ( VULG> ECONOMICS1 ( ! ,MAN*E/] !ORY & B\RGEOIS H>MONY1 ! 'WRET*$ MAN'1 ,SAY1 :O 9 #ahc PROP\ND$ ! DOGMA3 ,IT IS ABSURD TO SAY ?AT TOO MU* ( ALL COMMODITIES CAN BE PRODUC$1 !RE CAN ONLY BE P>TIAL CRISES1 BUT NO G5]AL ONES3 IF = ?IS REASON A C\NTRY HAS TOO MU* ( ONE K9D ( PRODUCT1 ?AT ONLY PROVES ?AT IT HAS PRODUC$ TOO LITTLE ( SOME O!R K9D4 

,SECOND CONSEQU5CE3 CAPITALI/ ACCUMULATION BECOMES 7OBJECTIVELY7 LIMITLESS ONCE CAPITALI/ PRODUCTION HAS BUILT A SUFFICI5T M>KET = ITSELF4 ,AS PRODUCTION WILL /ILL GR[1 I4E4 ! PRODUCTIVE =CES WILL DEVELOP )\T LIMIT1 EV5 :5 ALL MANK9D IS DIVID$ 9TO CAPITALI/S & PROLET>IANS1 AS !RE IS NO 5D TO ! ECONOMIC DEVELOPM5T ( CAPITALISM1 ! ONE SPECIFICALLY ,M>XI/ F\NDATION CRUMBLES4 ,ACCORD+ TO ,M>X1 ! REBELLION ( ! WORK]S1 ! CLASS /RUGGLE1 IS ONLY ! IDEOLOGICAL REFLECTION ( ! OBJECTIVE HI/ORICAL NECESSITY ( SOCIALISM1 RESULT+ FROM ! OBJECTIVE IMPOSSIBILITY ( CAPITALISM AT A C]TA9 ECONOMIC /AGE4 ,( C\RSE1 ?AT DOES NOT MEAN 7IT /ILL SEEMS NECESS>Y TO PO9T \T ?OSE BASICS ( ,M>XISM TO ! 'EXP]TS'7 ?AT ! HI/ORICAL PROCESS HAS TO BE1 OR EV5 C\LD BE1 EXHAU/$ TO ! V]Y LIMIT ( ?IS ECONOMIC IMPOSSIBILITY4 ,LONG BE=E ?IS1 ! OBJECTIVE T5D5CY ( CAPITALI/ DEVELOPM5T 9 ?IS DIRECTION IS SUFFICI5T TO PRODUCE SU* A SOCIAL & POLITICAL %>P5+ ( CONTRADICTIONS 9 SOCIETY ?AT !Y MU/ T]M9ATE4 ,BUT !SE SOCIAL & POLITICAL CONTRADICTIONS >E ESS5TIALLY ONLY A PRODUCT ( ! ECONOMIC 9DEF5SIBILITY ( CAPITALISM4 ,! SITUATION CONT9UES TO %>P5 AS ?IS BECOMES 9CREAS+LY OBVI\S4 ,IF WE ASSUME1 ) ! 'EXP]TS'1 ! ECONOMIC 9F9ITY ( CAPITALI/ ACCUMULATION1 !N ! VITAL F\NDATION ON :I* SOCIALISM RE/S WILL DISAPPE>4 ,WE !N TAKE REFUGE 9 ! MI/ ( PRE-,M>XI/ SY/EMS & S*OOLS :I* ATTEMPT$ TO D$UCE SOCIALISM SOLELY ON ! BASIS ( ! 9JU/ICE & EVILS ( TODAY'S WORLD & ! REVOLUTION>Y DET]M9ATION ( ! WORK+ CLASSES4.<#a#d.> 

,?IRD CONSEQU5CE3 :5 CAPITALI/ PRODUCTION BUILDS ITSELF A SUFFICI5T M>KET & P]MITS EXPANSION ( ! TOTAL ACCUMULAT$ VALUE1 !RE APPE>S ANO!R RIDDLE ( MOD]N DEVELOPM5T3 COMPETITION = ! MO/ DI/ANT M>KETS & CAPITAL EXPORTS1 ! MO/ DOM9ANT FEATURE ( MOD]N IMP]IALISM4 ,9DE$ 9COMPREH5SIBLE6 ,:Y ALL ?IS FUSS8 ,:Y CONQU] COLONIES1 :Y ! OPIUM W>S ( ! =TIES & SIXTIES1 :Y ! SQUABBLE = SWAMPS 9 ! ,CONGO1 = ,MESOPOTAMIAN DES]TS8 ,CAPITAL %\LD /AY AT HOME & E>N AN HONE/ LIV+4 ,KRUPP %\LD GO ALONG & PRODUCE = ,?YSS51 ,?YSS5 = ,KRUPP1 LET !M 9VE/ !IR CAPITAL 9 !IR [N 5T]PRISES & EXP& !M MUTUALLY1 & SO ON & SO ON4 ,! HI/ORICAL MOVEM5T ( CAPITAL1 & ) IT MOD]N IMP]IALISM1 BECOMES QUITE 9COMPREH5SIBLE4 

,BUT !RE IS /ILL ,PANNEKOEK'S 9VALUABLE /ATEM5T 9 ! ,BREM] ,BURG]ZEITUNG3 ! SE>* = NON-CAPITALI/ M>KETS IS 'A FACT1 BUT NOT A NECESSITY' - A REAL PE>L ( HI/ORICAL MAT]IALISM1 & HE IS DEAD RI<T6 ,ACCORD+ TO ! ASSUMPTION ( ! 'EXP]TS'1 SOCIALISM AS ! F9AL /AGE1 ) IMP]IALISM AS ITS PR$ECESSOR1 CEASES TO BE A HI/ORICAL NECESSITY4 ,! ONE BECOMES ! LAUDABLE DECISION ( ! WORK+ CLASS2 ! O!R IS SIMPLY A VICE ( ! B\RGEOISIE4 

,SO ! 'EXP]TS' >E FAC$ ) HAV+ TO *OOSE BETWE5 TWO ALT]NATIVES4 ,EI!R - AS !Y D$UCE FROM ,M>X'S MODELS - CAPITALI/ PRODUCTION IS ID5TICAL ) ITS M>KET1 & ! HI/ORICAL MAT]IALI/ EXPLANATION = IMP]IALISM DISAPPE>S1 OR CAPITAL ACCUMULATION CAN ONLY TAKE PLACE 9 SO F> AS CU/OM]S CAN BE F\ND BEYOND CAPITALI/S & WORK]S1 9 :I* CASE GR[+ SALES 9 NON-CAPITALI/ /RATA & C\NTRIES >E ! ESS5TIAL PRECONDITION = ACCUMULATION4 

,DESPITE MY ISOLATION ,I DO HAVE A TRULY NON-SUSPECT & ALSO V]Y 'EXP]T' CR[N WITNESS = ! ABOVE CONSEQU5CES4 

,9 #aib A BOOK WAS PUBLI%$ BY ! ,RUSSIAN ,M>XI/1 ,PR(ESSOR ,MI*AEL ,V4 ,TUGAN-,B>ANOVSKY1 ,! ,!ORY & ,HI/ORY ( ,CRISES 9 ,5GL&4 ,TUGAN REVIS$ ,M>X BY GRADUALLY REPLAC+ HIS !ORY ) ! CLI*$ WISDOMS ( B\RGEOIS VULG> ECONOMI/S4 ,AMONG O!R P>ADOXES1 HE CLAIMS ?AT CRISES >E M]ELY ! RESULT ( MALADJU/M5TS1 NOT ( ! ABILITY ( PRODUCTION TO EXP& FA/] ?AN ! ABILITY ( ! POPULATION TO CONSUME4 ,:AT WAS SO NOVEL & A/ONI%+ AB\T ?IS WISDOM 7:I* HE BORR[$ FROM ,SAY7 WAS ?AT HE US$ ,M>X'S MODELS ( SOCIAL REPRODUCTION 9 ! SECOND VOLUME ( ,CAPITAL TO PROVE IT6 

',IT IS ONLY POSSIBLE'1 SAYS ,TUGAN1 'TO EXP& SOCIAL PRODUCTION IF ! PRODUCTIVE =CES >E SUFFICI5TLY DEVELOP$4 ,?US1 DEM& MU/ ALSO UND]GO A SIMIL> EXPANSION 9 ! PROPORTIONAL DIVISION ( SOCIAL PRODUCTION1 S9CE UND] !SE CONDITIONS EV]Y NEWLY PRODUC$ COMMODITY REPRES5TS NEW PUR*AS+ P[] = ! ACQUISITION ( O!R COMMODITIES' 7P4#b#e7.<#a#dA.>4 

,! 'PRO(' = ?IS COMES FROM ,M>X'S MODELS1 :I* ,TUGAN HAS ONLY REPRODUC$ ) DIFF]5T FIGURES1 & :I* LEAD HIM TO CONCLUDE3 

',! OBJECT ( ! ABOVE MODELS IS TO PROVE SOME?+ :I* 9 ITSELF IS V]Y SIMPLE1 BUT IS FREQU5TLY OBJECT$ TO BE DUE TO AN 9SUFFICI5T UND]/&+ ( ! PROCESS ( ! REPRODUCTION ( SOCIAL CAPITAL1 TO PROVE 9 FACT ! BASIC !SIS ?AT SOCIAL PRODUCTION CREATES ITS [N M>KET4' 7,MY EMPHASIS - ,R4,L47 

,C>RI$ ALONG BY HIS PREF]5CE = P>ADOXES ,TUGAN-,B>ANOVSKY >RIVES AT ! CONCLUSION ?AT CAPITALI/ PRODUCTION IS '9 A C]TA9 S5SE' QUITE 9DEP5D5T ( HUMAN CONSUMPTION4 ,ANYWAY1 WE >E NOT 9T]E/$ H]E 9 ,TUGAN'S JOKES1 BUT ONLY 9 ! 'ACTUALLY V]Y SIMPLE BASIC PR9CIPLE' ON :I* HE CON/RUCTS ALL ?AT FOLL[S4 ,& !RE WE HAVE TO NOTE3 

,:AT MY 'EXP]T' CRITICS >E HOLD+ AGA9/ ME N[ WAS SAID BY ,TUGAN-,B>ANOVSKY1 WORD = WORD1 9 #a#i#b1 SPECIFICALLY 9 TWO TYPICAL ASS]TIONS3 7#a7 CAPITALI/ PRODUCTION BUILDS A M>KET = ITSELF ?R\< ITS [N EXPANSION1 SO ?AT ! SALES \TLET %\LD POSE NO DIFFICULTIES = ACCUMULATION 7AP>T FROM LACK ( PROP] PROPORTION72 7#b7 ! PRO( ?AT ?IS IS SO IS PROVID$ BY MA!MATICAL MODELS SU* AS ?OSE US$ BY ,M>X1 I4E4 EX]CISES 9 ADDITION & SUBTRACTION ON UNCOMPLA9+ PAP]4 ,?US SPOKE ,TUGAN-,B>ANOVSKY 9 #a#i#b4 ,!N ! MAN HAD A T\< TIME4 ,IMM$IATELY1 ,K>L ,KAUTSKY />T$ ON HIM 9 ,NEUE ,ZEIT2 HE M]CILESSLY CRITICIZ$ ! ABSURDITIES ( ! ,RUSSIAN REVISIONI/1 9CLUD+ ! ABOVE-M5TION$ 'BASIC PR9CIPLE'4 

,IF ?AT W]E TRUE 7WROTE ,KAUTSKY71 ! GREAT] ITS CAPITAL WEAL? IS1 ! FA/] ,5GL&'S 9DU/RY W\LD HAVE TO GR[4 ,BUT 9/EAD1 IT IS COM+ TO A /&/ILL1 CAPITAL IS EMIGRAT+ TO ,RUSSIA1 ,S\? ,AFRICA1 ,*9A1 ,JAPAN & SO ON4 ,?IS PH5OM5ON IS EXPLA9$ BY \R !ORY1 ACCORD+ TO :I* UND]-CONSUMPTION IS ! ULTIMATE CAUSE ( CRISES2 IT IS 9COMPREH5SIBLE FROM ,TUGAN-,B>ANOVSKY'S PO9T ( VIEW4.<#a#e.> 

,N[1 :AT IS ! !ORY ?AT ,KAUTSKY OPPOSES TO ,TUGAN'S8 ,H]E IT IS1 9 ,KAUTSKY'S [N WORDS3 

,AL?\< CAPITALI/S 9CREASE !IR WEAL? & ! NUMB] ( EXPLOIT$ WORK]S GR[S1 !Y CANNOT !MSELVES =M A SUFFICI5T M>KET = CAPITALI/-PRODUC$ COMMODITIES1 AS ACCUMULATION ( CAPITAL & PRODUCTIVITY GR[ EV5 FA/]4 ,!Y MU/ F9D A M>KET 9 ?OSE /RATA & NATIONS :I* >E /ILL NON-CAPITALI/4 ,!Y F9D ?IS M>KET1 & EXP& IT1 BUT /ILL NOT FA/ 5\<1 S9CE ?IS ADDITIONAL M>KET H>DLY HAS ! FLEXIBILITY & ABILITY TO EXP& ( ! CAPITALI/ PROCESS ( PRODUCTION4 ,ONCE CAPITALI/ PRODUCTION HAS DEVELOP$ L>GE-SCALE 9DU/RY1 AS WAS ALREADY ! CASE 9 ,5GL& 9 ! N9ETE5? C5TURY1 IT HAS ! POSSIBILITY ( EXP&+ BY SU* LEAPS & B\NDS ?AT IT SOON OV]TAKES ANY EXPANSION ( ! M>KET4 ,?US1 ANY PROSP]ITY :I* RESULTS FROM A SUB/ANTIAL EXPANSION 9 ! M>KET IS DOOM$ FROM ! BEG9N+ TO A %ORT LIFE1 & WILL NECESS>ILY 5D 9 A CRISIS4 

,?IS1 9 %ORT1 IS ! !ORY ( CRISES :I*1 AS F> AS WE CAN SEE1 IS G5]ALLY ACCEPT$ BY 'OR?ODOX' ,M>XI/S & :I* WAS SET UP BY ,M>X4.<#a#f.> 

,LET US =GET ?AT ,KAUTSKY CALLS ?IS !ORY BY ! DUBI\S NAME ( AN EXPLANATION ( CRISES CAUS$ 'BY UND]-CONSUMPTION'4 ,M>X RIDICULES ?IS 9 ! SECOND VOLUME ( ,CAPITAL 7P4#d#a74 

,LET US =GET ?AT ,KAUTSKY SEES ONLY ! PROBLEM ( CRISES1 )\T NOTIC+ ?AT CAPITALI/ PRODUCTION POSES A PROBLEM AP>T FROM UPS & D[NS 9 ! /ATE ( BUS9ESS4 

,F9ALLY1 LET US =GET ?AT ,KAUTSKY'S EXPLANATION - ?AT ! CONSUMPTION ( CAPITALI/S & WORK]S DOES NOT GR[ 'FA/ 5\<' = ACCUMULATION1 :I* !RE=E NE$S AN 'ADDITIONAL M>KET' - IS RA!R VAGUE & MAKES NO ATTEMPT TO UND]/& ! PROBLEM ( ACCUMULATION 9 ITS EXACT T]MS4 

,WE >E ONLY 9T]E/$ 9 :AT ,KAUTSKY %[S 9 BLACK & :ITE AS HIS [N & ! COMMONLY ACCEPT$ OP9ION AMONG 'OR?ODOX ,M>XI/S'3 

,?AT CAPITALI/S & WORK]S ALONE DO NOT REPRES5T A SUFFICI5T M>KET = ACCUMULATION4 

,?AT CAPITALI/ ACCUMULATION NE$S AN ADDITIONAL M>KET 9 NON-CAPITALI/ /RATA & NATIONS4 

,SO F> ONE ?+ IS C]TA93 9 #a#i#b1 :5 ATTACK+ ,TUGAN-,B>ANOVSKY1 ,KAUTSKY REFUT$ ! SAME ASS]TIONS :I* ! 'EXP]TS' USE TO OPPOSE MY ,ACCUMULATION1 & ! 'EXP]TS' ATTACK AS A HORRIBLE DEVIATION FROM ! TRUE FAI? ! SAME ASS]TIONS1 ONLY ?IS TIME DEAL+ ) ! PROBLEM ( ACCUMULATION 9 AN EXACT MANN]1 :I* ,KAUTSKY US$ 9 OPPOSITION TO ! REVISIONI/ ,TUGAN-,B>ANOVSKY AS ! !ORY ( CRISES 'G5]ALLY ACCEPT$' BY OR?ODOX ,M>XI/S4 

,& H[ DOES ,KAUTSKY PROVE ! UNT5ABILITY ( HIS OPPON5T'S !SIS8 ,JU/ BY US+ ,M>X'S MODELS8 ,KAUTSKY %[S ,TUGAN ?AT1 EV5 :5 PROP]LY US$1 !SE MODELS DO NOT PROVE HIS !SIS BUT1 ON ! CONTR>Y1 PROVE ! !ORY ( CRISES AS CAUS$ BY 'UND]CONSUMPTION 

,! WORLD %AKES TO ITS V]Y F\NDATIONS4 ,HAS ! SUPREME EXP]T 'UND]/OOD' ! 'NATURE1 AIM & SIGNIFICANCE ( ,M>X'S MODELS' EV5 LESS ?AN ,TUGAN8 444 

,BUT ,KAUTSKY DRAWS SOME 9T]E/+ CONCLUSIONS FROM ,TUGAN-,B>ANOVSKY'S ASS]TION4 ,?AT ?IS ASS]TION /RAI<T=W>DLY CONTRADICTS ,M>X'S !ORY ( CRISES1 ?AT IT MAKES ! EXPORT ( CAPITAL TO NON-CAPITALI/ C\NTRIES AN 9EXPLICABLE PH5OM5ON1 WE HAVE ALREADY SE54 ,& N[ ! G5]AL T5D5CY ( ?IS POSITION3 

,:AT PRACTICAL IMPORTANCE 444 DO \R !ORETICAL DIFF]5CES HAVE8 7ASKS ,KAUTSKY7 ,:E!R CRISES >E CAUS$ BY UN/ABLE PROPORTIONS 9 SOCIAL PRODUCTION OR BY UND]-CONSUMPTION - IS ?AT ANY?+ MORE ?AN AN ACADEMIC QUE/ION8 

,?AT IS :AT MANY 'PRACTICAL' M5 MI<T ?9K4 ,BUT 9 FACT ! QUE/ION IS ( GREAT PRACTICAL IMPORTANCE1 ESPECIALLY = TACTICAL DIFF]5CES :I* >E BE+ DISCUSS$ 9 \R P>TY4 ,IT IS NO M]E ACCID5T ?AT REVISIONISM ATTACKS ,M>X'S !ORY ( CRISES ) P>TICUL> VIGOR4 

,& ,KAUTSKY DEMON/RATES EXPLICITLY ?AT ,TUGAN-,B>ANOVSKY'S !ORY ( CRISES BASICALLY LEADS TO AN ALLEG$ 'MOD]ATION ( CLASS CONTRADICTIONS'4 ,?AT MEANS IT IS 9 ! TRADITION ( ! !ORY ?AT BELIEVES 9 ! '*ANGE ( SOCIAL DEMOCRACY FROM A P>TY ( PROLET>IAN CLASS /RUGGLE 9TO A DEMOCRATIC P>TY ON ! LEFT W+ ( A DEMOCRATIC P>TY ( SOCIALI/ RE=M'4.<#a#g.> 

,?IS IS H[ ! SUPREME EXP]T SLEW ! H]ETIC ,TUGAN-,B>ANOVSKY F\RTE5 YE>S AGO ON ?IRTY-SIX PR9T$ PAGES ( ,NEUE ,ZEIT1 F9ALLY WALK+ AWAY ) HIS VICTIM'S SCALP 9 HIS BELT4 

,& N[ ,I MU/ /& BY & WAT* ! 'EXP]T' PUPILS ( ?IS MA/] DAMN MY ANALYSIS ( ACCUMULATION ) ! SAME 'BASIC PR9CIPLE' ?AT CO/ ! ,RUSSIAN REVISIONI/ HIS LIFE 9 ! HUNT+ GR\NDS ( ,NEUE ,ZEIT6 ,IT IS NOT QUITE CLE> :AT HAPP5S 9 ?IS ADV5TURE TO ! '!ORY ( CRISES :I*1 AS F> AS WE CAN SEE1 IS G5]ALLY ACCEPT$ BY OR?ODOX ,M>XI/S'4 

,BUT SOME?+ EV5 MORE ORIG9AL HAPP5$4 ,AFT] MY ,ACCUMULATION HAD BE5 DE/ROY$ ) ,TUGAN-,B>ANOVSKY'S WEAPONS 9 ,VORW>TS1 ! ,BREM] ,BURG]ZEITUNG1 ,DRESD5] ,VOLKSZEITUNG & ! ,FRANKFURT] ,VOLKS/IMME1 ,OTTO ,BAU]'S CRITIQUE APPE>$ 9 ,NEUE ,ZEIT4 ,?IS EXP]T ALSO BELIEV$ 9 ! MAGICAL P[] ( MA!MATICAL =MULAS TO PROVE QUE/IONS ( SOCIAL REPRODUCTION1 AS WE HAVE SE54 ,BUT HE IS /ILL NOT COMPLETELY SATISFI$ ) ,M>X'S MODELS4 ,HE F9DS !M 'NOT 9CONTE/ABLE'1 '>BITR>Y & NOT )\T CONTRADICTIONS'1 :I* HE EXPLA9S BY ! FACT ?AT ,5GELS 'F\ND ?IS P>T UNF9I%$' 9 HIS MA/]'S NOTEBOOKS6 ,HE !RE=E GOES TO ALL ! TR\BLE ( CON/RUCT+ HIS [N =MULAS3 ',?AT IS :Y WE HAVE CON/RUCT$ MODELS :I*1 ONCE ONE ACCEPTS ! ASSUMPTIONS1 >E NOT >BITR>Y4' ,ONLY ) ?IS NEW MODEL DOES ,BAU] BELIEVE HE HAS F\ND 'AN 9CONTE/ABLE BASIS ON :I* TO APPROA* ! PROBLEMS POS$ BY ,COMRADE ,LUXEMBURG'4.<#a#h.> ,BUT ABOVE ALL1 ,BAU] HAS UND]/OOD ?AT CAPITALI/ PRODUCTION CANNOT FLOAT >\ND 9 ?9 AIR 'UNDI/URB$'4 ,HE !RE=E LOOKS = SOME OBJECTIVE SOCIAL BASIS = CAPITAL ACCUMULATION1 :I* HE F9ALLY F9DS 9 ! GR[? ( ! POPULATION4 

,& H]E BEG9S ! MO/ ABSURD BIT4 ,! UNANIM\S JUDGM5T ( ! 'EXP]TS'1 ) ! CORPORATE BLESS+ ( ! $ITORIAL /AFF ( ,VORW>TS1 DECL>ES MY BOOK TO BE >RANT NONS5SE1 TOTAL MISUND]/&+1 ! PROBLEM ( ACCUMULATION SIMPLY DOES NOT EXI/1 ,M>X ALREADY SOLV$ IT1 ! MODELS GIVE A SUFFICI5T ANSW]4 ,BAU] IS N[ =C$ TO PLACE HIS MODELS ON A SLI<TLY MORE MAT]IAL BASIS ?AN ! SIMPLE RULES ( ADDITION & SUBTRACTION3 HE TAKES ACC\NT ( A C]TA9 SOCIAL PH5OM5ON - POPULATION GR[?2 IT IS ON ! BASIS ( ?IS ?AT HE CON/RUCTS HIS TABLES4 ,! EXPANSION ( CAPITALI/ PRODUCTION1 AS HIS MODELS >E SUPPOS$ TO DEMON/RATE1 IS NOT AN AUTONOM\S MOVEM5T ( CAPITAL >\ND ITS [N AXIS1 BUT FOLL[S ! CORRESPOND+ GR[? ( ! POPULATION3 

,ACCUMULATION PRESUPPOSES EXPANSION ( ! RANGE ( PRODUCTION1 & ?IS EXP&S ?R\< POPULATION GR[? 444 ,9 CAPITALI/ PRODUCTION !RE IS A T5D5CY = CAPITAL ACCUMULATION TO ADJU/ TO ! GR[? ( POPULATION 444 ,! T5D5CY = ACCUMULATION TO ADJU/ TO ! POPULATION GR[? DET]M9ES ! 9T]NATIONAL RELATIONS .<( CAPITAL - ,TRANS4.> 444 ,:5 ! CAPITALI/ WORLD ECONOMY IS SE5 AS A :OLE1 ! T5D5CY 9 ! 9DU/RIAL CYCLE TO ADJU/ ACCUMULATION TO ! POPULATION GR[? BECOMES VISIBLE 444 ,! P]IODIC RETURN ( PROSP]ITY & ( ! CRISIS ( DEPRESSION IS ! EMPIRICAL EXPRESSION ( ! FACT ?AT ! ME*ANISM ( CAPITALISM ACTS TO CANCEL OV]ACCUMULATION & UND]ACCUMULATION & CONT9UALLY READJU/S ACCUMULATION TO ! POPULATION GR[?4.<#a#i.> 

,LAT] WE WILL TAKE A CLOS] LOOK AT ,BAU]'S POPULATION !ORY4 ,BUT ONE ?+ IS C]TA93 ! !ORY ACTUALLY REPRES5TS SOME?+ QUITE NEW4 ,= ! O!R 'EXP]TS'1 ALL QUE/IONS AB\T ! SOCIAL & ECONOMIC F\NDATION ( ACCUMULATION SEEM$ PURE NONS5SE1 '9DE$ DIFFICULT TO DISCOV]'4 ,BAU]1 ON ! O!R H&1 CON/RUCTS A :OLE !ORY TO ANSW] ?IS QUE/ION4 

,YET ,BAU]'S !ORY IS NOT ONLY A NOVELTY TO ! O!R CRITICS ( MY BOOK2 IT MAKES ITS V]Y FIR/ APPE>ANCE 9 ! :OLE ( ,M>XI/ LIT]ATURE4 ,NEI!R 9 ! ?REE VOLUMES ( ,M>X'S ,CAPITAL NOR 9 ,!ORIES ( ,SURPLUS ,VALUE OR 9 ,M>X'S O!R WRIT+S DO WE F9D A TRACE ( ,BAU]'S POPULATION !ORY AS ! BASIC PR9CIPLE ( ACCUMULATION4 

,LET US TAKE ANO!R LOOK AT ! WAY 9 :I* ,K>L ,KAUTSKY ANN\NCES & REVIEWS ! SECOND VOLUME ( ,CAPITAL 9 ,NEUE ,ZEIT4 ,9 ! DETAIL$ CONT5TS ( ACCUMULATION 9 ! SECOND VOLUME ,KAUTSKY DEALS V]Y ?OR\<LY ) ! FIR/ P>AGRAPHS ON CIRCULATION1 %[+ ALL ! =MULAS & CYPH]S AS ,M>X USES !M4 ,HE !N D$ICATES ?REE :OLE PAGES \T ( A TOTAL ( TW5TY TO ! MO/ IMPORTANT & ORIG9AL P>T ( ! VOLUME1 ! ,REPRODUCTION & ,CIRCULATION ( ,AGGREGATE ,SOCIAL ,CAPITAL4 ,9 !SE ?REE PAGES HE DEALS EXCLUSIVELY - )1 ( C\RSE1 COMPLETE REPRODUCTION ( ! UNAVOIDABLE =MULAS - ) ! 9TRODUCTORY FICTION ( SIMPLE REPRODUCTION'1 I4E4 CAPITALI/ PRODUCTION )\T PR(IT1 :I* ,M>X HIMSELF ONLY TAKES AS A !ORETICAL />T+ PO9T FROM :I* TO APPROA* ! ACTUAL PROBLEM1 ! ACCUMULATION ( ! AGGREGATE CAPITAL4 ,KAUTSKY SETTLES ?IS LATT] PROBLEM 9 LIT]ALLY TWO L9ES3 ',ACCUMULATION ( SURPLUS VALUE1 ! EXPANSION ( ! PRODUCTIVE PROCESS1 BR+S FUR!R COMPLICATIONS4' ,FULL /OP4 ,NOT ANO!R WORD AT ! TIME1 JU/ AFT] ! PUBLICATION ( ! SECOND VOLUME1 & NOT ANO!R WORD 9 ! ?IRTY YE>S S9CE !N4 ,?US NOT ONLY DO WE F9D NO TRACE ( ,BAU]'S POPULATION !ORY1 ,KAUTSKY ALSO COMPLETELY FAIL$ TO NOTICE ! :OLE SECTION ON ACCUMULATION4 

,HE DOES NOT NOTICE ANY SPECIAL PROBLEM 7LIKE ,BAU] CREAT+ AN 'UNOBJECTIONABLE PR9CIPLE' = ITS SOLUTION71 NOR ! FACT ?AT ,M>X /OPS 9 ! MID/ ( HIS [N 9VE/IGATION )\T AN ANSW] TO ! QUE/ION HE POS$ HIMSELF SEV]AL TIMES4 

,ONCE AGA9 79 ! PREVI\SLY M5TION$ S]IES AGA9/ ,TUGAN-,B>ANOVSKY7 ,KAUTSKY TALKS AB\T ! SECOND VOLUME ( ,CAPITAL4 ,H]E HE =MULATES ! CRISIS !ORY1 'COMMONLY ACCEPT$ BY OR?ODOX ,M>XI/S'1 ( :I* ! C5TRAL PO9T IS ?AT CONSUMPTION BY CAPITALI/S & WORK]S IS 9SUFFICI5T AS A BASIS = ACCUMULATION1 & ?AT AN ADDITIONAL M>KET IS NECESS>Y 9 ! 'PRE-CAPITALI/ PRODUC+ /RATA & NATIONS'4 ,KAUTSKY DOES NOT SEEM TO BE AW>E ?AT ?IS 'COMMONLY ACCEPT$' !ORY ( CRISES NEI!R FITS ,TUGAN-,B>ANOVSKY'S P>ADOXES NOR HIS [N MODEL ( ,M>XI/ ACCUMULATION ) ITS G5]AL PRECONDITIONS4 ,?IS IS BECAUSE ! PREMISE 9 ,M>X'S ANALYSIS 9 ! SECOND VOLUME IS A SOCIETY ( CAPITALI/S & WORK]S ONLY4 ,! MODELS >E TO %[ 9 DETAIL AS ECONOMIC LAW1 H[ ?OSE TWO 9SUFFICI5T CONSUM] CLASSES MAKE ACCUMULATION POSSIBLE YE> AFT] YE> M]ELY BY CONSUM+4 ,KAUTSKY DOES NOT EV5 GIVE US ! SLI<TE/ H9T ( A POPULATION !ORY SU* AS ?AT US$ BY ,BAU] AS ! TRUE PR9CIPLE ( ,M>X'S MODEL ( ACCUMULATION4 

,LET US LOOK AT ,HILF]D+'S ,F9ANCE ,CAPITAL4.<#b.> ,9 ,*APT] ,X,V,I1 AFT] AN 9TRODUCTION 9 :I* HE PRAISES ,M>X'S ILLU/RATION ( ! CONDITIONS ( REPRODUCTION ( GROSS CAPITAL AS ! MO/ BRILLIANT EF=T 9 ?IS 'A/ONI%+ WORK' - & 9DE$ HE IS CORRECT - HE COPIES WORD = WORD ON F\RTE5 PAGES ! RELEVANT PAGES 9 ,M>X1 9CLUD+ ( C\RSE ! MA!MATICAL MODELS4 ,H]E HE MOANS ?AT !SE MODELS HAVE BE5 NEGLECT$ & ONLY ATTRACT$ SOME ATT5TION ?ANKS TO ,TUGAN-,B>ANOVSKY4 ,& :AT DOES ,HILF]D+ HIMSELF NOTICE 9 ! :OLE BRILLIANT EF=T8 ,H]E >E HIS CONCLUSIONS3 

,M>X'S MODELS %[ 

?AT 9 CAPITALI/ PRODUCTION REPRODUCTION CAN TAKE PLACE ON A SIMPLE AS WELL AS AN EXT5D$ SCALE1 IF ONLY !SE RELATIONS CAN BE KEPT /ABLE4 ,ON ! O!R H& EV5 SIMPLE REPRODUCTION CAN PRODUCE CRISES IF ! PROPORTIONS >E UPSET2 = 9/ANCE ?AT BETWE5 US$-UP CAPITAL & CAPITAL ?AT MU/ BE 9VE/$4 ,IT DOES NOT NECESS>ILY FOLL[ ?AT ! CAUSE ( ! CRISIS LIES 9 ! UND]-CONSUMPTION ( ! MASSES1 :I* IS 9H]5T 9 CAPITALI/ PRODUCTION4 

,NEI!R DOES ! POSSIBILITY ( G5]AL OV]-PRODUCTION FOLL[ FROM ! MODELS3 RA!R ONE CAN %[ ?AT ANY EXPANSION ( PRODUCTION IS POSSIBLE :I* TAKES PLACE )9 ! LIMITS ( ! EXI/+ PRODUCTIVE =CES4.<#b#a.> 

,?AT IS ALL4 ,HILF]D+1 TOO1 SEES ,M>X'S ANALYSIS ( ACCUMULATION AS ONLY A GUIDE = ! SOLUTION ( ! CRISIS PROBLEM4 ,! MA!MATICAL MODELS %[ ! PROPORTION :I*1 IF IT IS FOLL[$1 ALL[S UNDI/URB$ ACCUMULATION4 ,FROM ?IS ,HILF]D+ DRAWS !SE CONCLUSIONS3 

,CRISES ONLY DEVELOP FROM DISPROPORTIONALITY4 ,9 ?IS HE S9KS ! 'COMMONLY ACCEPT$ !ORY ( CRISIS' 9TO ! DEEP SEA & HE TAKES OV] ,TUGAN-,B>ANOVSKY'S !ORY1 CONDEMN$ BY ,KAUTSKY AS REVISIONI/ H]ESY4 ,FOLL[+ ?IS1 HE CONCLUDES ) ! !ORY ( ?IS 'WRET*$ MAN'1 ,SAY3 G5]AL OV]-PRODUCTION IS IMPOSSIBLE4 

,AP>T FROM CRISES AS P]IODIC 9T]F]5CES DUE TO ! LACK ( PROPORTIONALITY CAPITAL ACCUMULATION 79 A SOCIETY ( ONLY CAPITALI/S & WORK]S7 CAN EXP& AS F> AS ! ACTUAL PRODUCTIVE =CES ALL[1 9 :I* HE AGA9 COPIES ,TUGAN WORD = WORD4 

,AP>T FROM CRISES1 A PROBLEM ( ACCUMULATION DOES NOT EXI/ = ,HILF]D+ S9CE ! MODELS %[ ?AT 'ANY EXPANSION' IS LIMITLESSLY POSSIBLE1 I4E4 ?AT PRODUCTION & SALES GR[ SIMULTANE\SLY4 ,AGA91 NO TRACE ( ,BAU]'S 'GR[? ( POPULATION' !ORY & NO IDEA ?AT SU* A !ORY WAS NECESS>Y4 

,F9ALLY1 EV5 = ,BAU] HIMSELF HIS PRES5T !ORY WAS A NEW DISCOV]Y4 ,ONLY 9 #a#i#d1 AFT] ! >GUM5TS BETWE5 ,KAUTSKY & ,TUGAN-,B>ANOVSKY1 DOES HE ESPECIALLY DEAL ) ! !ORY ( CRISES 9 ! LI<T ( ,M>X'S !ORY4 ,9 TWO >TICLES 9 ,NEUE ,ZEIT HE HIMSELF EXPLA9S ?AT = ! FIR/ TIME HE WANTS TO GIVE A COH]5T ELABORATION ( ?IS !ORY4 ,BUT HE ATTRIBUTES ! CRISES MA9LY TO ! SPECIAL =M ( CIRCULATION1 ! 'FIX$ CAPITAL'1 MAK+ USE ( A PHRASE 9 ! SECOND VOLUME ( ,CAPITAL1 :I* TRIES TO EXPLA9 ! T5-YE> CYCLE ( MOD]N 9DU/RY4 ,NOT ONCE DOES ,BAU] M5TION ! BASIC IMPORTANCE ( ! RELATION BETWE5 ! EXPANSION ( PRODUCTION & ! GR[? ( POPULATION4 ,BAU]'S :OLE !ORY1 ! 'T5D5CY TO ADJU/ TO ! GR[? ( POPULATION' :I* N[ EXPLA9S ! CRISES & ! BOOMS1 ! ACCUMULATION & ! 9T]NATIONAL MOVEM5T ( CAPITAL FROM C\NTRY TO C\NTRY1 & F9ALLY EV5 IMP]IALISM3 ?IS SUP]NATURAL LAW1 :I* MOVES ! :OLE ME*ANISM ( CAPITALISM & 'RULES IT AUTOMATICALLY' EXI/$ = NEI!R ,BAU] NOR ! RE/ ( ! WORLD4 ,N[1 9 ANSW] TO MY BOOK1 IT HAS BECOME ! BASIC !ORY1 ! ONLY !ORY1 TO PUT ,M>X'S MODELS ON AN '9CONTE/ABLE F\NDATION'4 ,SUDD5LY & CASUALLY ?IS BASIS APPE>S1 9 ORD] TO SOLVE ! PROBLEM :I* ALLEG$LY DID NOT EXI/ AT ALL4 

,:AT %ALL WE ?9K AB\T ALL ! O!R 'EXP]TS'8 ,LET US SUMM>IZE :AT HAS BE5 SAID3 

,ACCORD+ TO ,ECK/E9 & ,HILF]D+ 7& ,PANNEKOEK AS WELL7 A PROBLEM ( CAPITAL ACCUMULATION DOES NOT EXI/4 ,EV]Y?+1 NE$LESS TO SAY1 IS AS CLE> AS ,M>X'S =MULAS DEMON/RATE4 ,IT IS ONLY BECAUSE ,I AM TOTALLY 9CAPABLE ( UND]/&+ ! =MULAS ?AT ,I AM CRITICAL ( !M4 ,ACCORD+ TO ,BAU]1 ! FIGURES US$ BY ,M>X >E '>BITR>ILY *OS5 & NOT FREE ( CONTRADICTIONS'4 ,ONLY HE1 ,BAU]1 HAS F\ND AN 'ADEQUATE ILLU/RATION = ,M>X'S ?\<TS' & PUT UP A 'MODEL FREE FROM >BITR>9ESS'4 

,ACCORD+ TO ,ECK/E9 & ! $ITORIAL /AFF ( ,VORW>TS1 MY BOOK HAS TO BE 'REJECT$' AS TOTALLY WOR?LESS4 ,ACCORD+ TO ! LITTLE 'EXP]T' ( ! ,FRANKFURT] ,VOLKS/IMME 7#a ,FEBRU>Y #a#i#a#c7 IT IS EV5 HI<LY DAMAG+4 ,ACCORD+ TO ,BAU] !RE 'IS /ILL A VALID K]NEL HIDD5 9 ! WRONG EXPLANATION'3 IT PO9TS \T ! LIMIT ( ACCUMULATION ( CAPITAL 7,NEUE ,ZEIT1 #a#i#a#c1 ,NO4#b#d1 P4#h#g#c _<P4#a#h_>74 

,ACCORD+ TO ,ECK/E9 & ,VORW>TS1 MY BOOK HAS NOT ! SLI<TE/ ?+ TO DO ) IMP]IALISM2 'AS ?+S /& ! BOOK HAS SO LITTLE TO DO ) ! NEW PH5OM5A ( TODAY'S PULSAT+ ECONOMIC LIFE1 ?AT IT C\LD HAVE BE5 WRITT5 JU/ AS WELL TW5TY OR MORE YE>S AGO'4 ,ACCORD+ TO ,BAU]1 MY RESE>* DISCOV]S 9 FACT 'NOT ! SOLE 444 BUT ONLY ONE ROOT ( IMP]IALISM' 7IBID41 P4#h#g#d _<P4#a#i_>7 :I* = A LITTLE P]SON LIKE ME IS QUITE A NICE A*IEVEM5T4 

,ACCORD+ TO ,ECK/E91 ,M>X'S MODELS %[ '! ACTUAL EXT5T ( SOCIAL NE$S'2 !Y %[ '! POSSIBILITY ( EQUILIBRIUM' FROM :I* CAPITALI/ REALITY IS DI/ANT S9CE IT IS GOV]N$ BY /RIV+ = PR(IT1 RESULT+ 9 CRISES4 ,E>LY 9 ! NEXT P>AGRAPH '! ILLU/RATION CORRESPONDS TO ,M>X'S MODEL1 BUT ALSO TO REALITY'1 BECAUSE ! MODEL DEMON/RATES PRECISELY 'H[ ?IS PR(IT IS REALIZ$ = ! CAPITALI/'4.<#b#b.> 

 ,ACCORD+ TO ,PANNEKOEK1 !RE IS NO /ATE ( EQUILIBRIUM1 BUT ONLY 'EMPTY BLUE SKY'2 '! EXT5T ( PRODUCTION CAN BE COMP>$ TO A WEI<TLESS ?+ FLOAT+ AT ANY LEVEL'4 ',= ! EXT5T ( PRODUCTION IS 9 NO /ATE ( EQUILIBRIUM TO BE DRAWN BACK :5 IT DEVIATES4' ,! 9DU/RIAL CYCLE IS NOT A FLUCTUATION >\ND AN AV]AGE1 :I* IS DEF9$ BY SOME DEM&4'.<#b#c.> 

,ACCORD+ TO ,BAU]1 ,M>X'S MODELS - HE HAV+ F9ALLY F\ND !IR TRUE MEAN+ - MEAN NO?+ BUT ! MOVEM5T ( CAPITALI/ PRODUCTION 9 ADJU/M5T TO POPULATION GR[?4 

,ECK/E9 & ,HILF]D+ BELIEVE 9 ! OBJECTIVE ECONOMIC POSSIBILITY ( LIMITLESS ACCUMULATION2 '! MODELS %[ :O BUYS ! PRODUCTS' 7,ECK/E974 ,PANNEKOEK'S 'WEI<TLESS ?+' CAN ALL ! MORE 'FLOAT AT ANY LEVEL'1 AS HE SAYS HIMSELF4 ,ACCORD+ TO ,HILF]D+1 'ANY EXPANSION ( PRODUCTION IS POSSIBLE ?AT TAKES PLACE )9 ! LIMIT ( ! EXI/+ PRODUCTIVE =CES' BECAUSE1 AS ! MODELS %[1 '! \TLET GR[S AUTOMATICALLY ) PRODUCTION'4 ,ACCORD+ TO ,BAU]1 'ONLY ! APOLOGI/S = CAPITALISM CAN TALK ( ! 5DLESSNESS ( ACCUMULATION' & ASS]T ?AT ') ! PRODUCTION ! CONSUMPTION P[] GR[S AUTOMATICALLY'4.<#b#d.> 

,H[ DOES IT /& N[8 ,:AT DO ! G5TLEM5 ( ! JURY MEAN8 ,WAS !RE A PROBLEM ( ACCUMULATION ) ,M>X :I* NONE ( US HAD NOTIC$ UNTIL N[1 OR IS ! PROBLEM /ILL 7EV5 AFT] ITS LATE/ SOLUTION BY ,BAU]7 ! PRODUCT ( MY 'TOTAL 9ABILITY TO WORK ) ,M>X'S MODELS'1 AS ! ,VORW>TS REVIEW] SAID8 ,>E ,M>X'S MODELS ! ULTIMATE TRU?1 9FALLIBLE DOGMA OR >E !Y '>BITR>Y & NOT FREE FROM CONTRADICTIONS'8 ,DOES ! PROBLEM ,I DEALT ) DELVE TO ! ROOTS ( IMP]IALISM1 OR HAS IT NOT ! 'SLI<TE/ ?+ TO DO ) ! PH5OM5A ( TODAY'S PULSAT+ ECONOMIC LIFE'8 ,& :AT DO ?OSE 7AS ,ECK/E9 CALLS !M7 'N[ FAM\S' MODELS ( ,M>X F9ALLY ILLU/RATE - ONLY A !ORETICAL /ATE ( EQUILIBRIUM ( PRODUCTION1 OR A PICTURE ( REALITY1 A PRO( ( ! POSSIBILITY ( 'EXPANSION'1 OR A PRO( ( ITS IMPOSSIBILITY 9 ! FACE ( UND]-CONSUMPTION1 OR AN ADJU/M5T ( PRODUCTION TO POPULATION GR[?1 OR ,PANNEKOEK'S 'WEI<TLESS' *ILDR5'S BALLOON1 OR SOME?+ ELSE ALTOGE!R1 P]HAPS A CAMEL OR A WEASEL8 ,IT IS AB\T TIME ! 'EXP]TS' />T$ MAK+ UP !IR M9DS4 

,MEAN:ILE LET US LOOK AT A BEAUTIFUL PICTURE ( CL>ITY1 H>MONY & P]FECTION ( (FICIAL ,M>XISM 9 RELATION TO ! FUNDAM5TAL SECTION ( ! SECOND VOLUME ( ,CAPITAL4 ,A FITT+ REPLY TO ! >ROGANCE ( !SE G5TLEM5 :O ATTACK$ MY BOOK SO VICI\SLY4.<#b#e.> 

,S9CE ,OTTO ,BAU] HAS RELIEV$ ME ( ! BO!R ( >GU+ ) ! O!R 'EXP]TS'1 ,I CAN N[ TURN TO ,BAU] HIMSELF4 

,FOOTNOTES 

.<#a.>4 .<,SISMONDI1 ,SAY1 ,RIC>DO & ,MAC,CULLO*1 ECONOMI/S ( ! E>LY N9ETE5? C5TURY4 ,= EXPOSITION & CRITICISMS ( !IR RESPECTIVE IDEAS SEE ,M>X1 ,CAPITAL1 ,VOLS4 ,I1 ,I,I1 & ,I,I,I1 ALSO ,!ORIES ( ,SURPLUS ,VALUE4 ,= A CONCISE ACC\NT SEE ,]IC ,ROLL1 ,A ,HI/ORY ( ,ECONOMIC ,?\<T 7,FAB] @& ,FAB]1 ,LONDON #a#i#f#b74 ,SEE ALSO ,ROSA ,LUXEMBURG1 ,! ,ACCUMULATION ( ,CAPITAL4.> 

.<#b.> .<,POPULI/S OR ,N>ODNIKS4 ,A GR\P FROM ! ,RUSSIAN 9TELLIG5TSIA :O1 9 ! #a#h#gS1 W]E ACTIVE 9 ATTEMPT+ TO >\SE ! PEASANTS AGA9/ ! ,CZ>4 ,?IS REVOLUTION>Y ACTIVITY WAS KN[N AS 'GO+ TO ! PEOPLE'4 ,IT WAS L>GELY A FAILURE1 & ! MO/ DET]M9$ ELEM5TS ( ! MOVEM5T !N RESORT$ TO ACTS ( T]RORISM4 ,!Y ASSASS9AT$ ,CZ> ,ALEX&] ,I,I ON #a ,M>* #a#h#h#a4 ,!REAFT] ! MOVEM5T DECL9$4.> 

.<#c.> .<,HANS ,VAIH+] 7#a#h#e#d-#a#i#c#c74 ,G]MAN PHILOSOPH] ( ! 'AS IF'4 ,F\ND$ ! J\RNAL ,KANT-,/UDI54 ,MA9 WORK3 ,! ,PHILOSOPHY ( ',AS ,IF'1 ,5GLI% TRANSLATION ,C4,K4 ,OGD5 7,NEW ,YORK #a#i#b#d74 ,SEE ALSO ,W4 ,DEL ,NEGRO1 ,HANS ,VAIH+]'S ,PHILOSOPHIS*ES ,W]K MIT BESOND]] ,B]UCKSI*TIGUNG SE9] ,KANT=S*UNG1 9 ,KANT-,/UDI5 7#a#i#c#d71 PP4#c#a#f-#b#g4.> 

.<#d.> .<,OTTO ,BAU] 7#a#h#h#a-#a#i#c#h74 ,BORN 9 ,VI5NA4 ,9 #aig BECAME ,SECRET>Y TO ! ,P>LIAM5T>Y ,GR\P ( ! ,AU/RO-,HUNG>IAN ,SOCIAL ,DEMOCRATIC ,P>TY4 ,BECAME ONE ( ! P>TY'S LEAD+ !ORI/S AFT] ! PUBLICATION ( ,! ,QUE/ION ( ,NATIONALITIES & ,AU/RIAN ,SOCIAL ,DEMOCRACY1 & WAS A FREQU5T CONTRIBUTOR TO ,D] ,KAMPF1 ! !ORETICAL J\RNAL ( ! ,AU/RIAN ,S,D,P4 ,S]V$ AS A CONSCRIPT 9 ! ,AU/RO-,HUNG>IAN >MY AFT] ,AUGU/ #a#i#a#d4 ,WAS CAPTUR$ 9 ! AUTUMN ( #aiad BY ! ,RUSSIANS & SP5T ! RE/ ( ! W> AS A PRISON] UNTIL HE WAS REPATRIAT$ 9 ,AUGU/ #a#i#a#g4 ,:IL/ 9 ,RUSSIA HE LE>N$ TO SPEAK ,RUSSIAN4 ,HE WAS SYMPA!TIC TO ! ,M>TOV-,9T]NATIONALI/ W+ ( ! ,M5%EVIKS BUT WAS A CRITICAL SUPPORT] ( ! ,BOL%EVIK REVOLUTION 9 #a#i#a#g4 ,AFT] ! FALL ( ! ,HAPSBURG MON>*Y ,BAU] S]V$ AS A ,=EIGN ,SECRET>Y 9 ! ,SOCIAL ,DEMOCRATIC GOV]NM5T4 ,9 ! #a#i#bS HE ATTEMPT$ TO BRIDGE ! GULF BETWE5 ,SOCIAL ,DEMOCRACY & ! NEW ,COMMUNI/ ,P>TIES1 SEEK+ TO RE-UNITE ! WORK]S' P>TIES NATIONALLY & 9T]NATIONALLY4 ,BE=E #aiad ,BAU] WAS ALSO A FREQU5T CONTRIBUTOR TO ,NEUE ,ZEIT 7SEE NEXT NOTE7 & 9FLU5C$ ! ,G]MAN P>TY1 P>TICUL>LY ON ! NATIONAL QUE/ION4.> 

.<#e.>,NEUE ,ZEIT1 #a#i#a#c1 ,NO4#b#d1 P4#h#f#c4 .<,NEUE ,ZEIT WAS ! C5TRAL !ORETICAL J\RNAL ( ! ,G]MAN ,SOCIAL ,DEMOCRATIC ,P>TY 7,S,P,D74 ,$IT$ BY ,K>L ,KAUTSKY4.> _<,5GLI% TRANSLATION3 ,OTTO ,BAU]'S ,ACCUMULATION ( ,CAPITAL1 ,HI/ORY ( ,POLITICAL ,ECONOMY1 #a#i#h#f1 #a#h3#a1 PP4#h#g-#a#a - P4#i#g4_> 

.<#f.>IBID41 P4 #h#h#f4 _<,TABLE #g 9 ! ,5GLI% TRANSLATION1 P4#a4_> 

.<#g.>,VORW>TS1 #af ,FEBRU>Y #a#i#a#c4 ,LIKEWISE ,A4 ,PANNEKOEK .<SEE BEL[.> 9 ! ,BREM] ,BURG]ZEITUNG ( #ai ,JANU>Y #a#i#a#c3 ',! MODEL ITSELF GIVES ! ANSW] V]Y SIMPLY1 = ALL PRODUCTS F9D !IR M>KET !RE 7I4E4 ON ! PAP] ( ! ,BREM] ,BURG]ZEITUNG74 ,! CAPITALI/S & ! WORK]S !MSELVES >E ! CONSUM]S 444 ,!RE IS1 !RE=E1 ABSOLUTELY NO PROBLEM TO BE SOLV$4' 

.<,GU/AV ,ECK/E94 ,AU/RIAN4 ,CONTRIBUT$ TO ,D] ,KAMPF & ,NEUE ,ZEIT4 ,AU?OR ( A BOOK ON ! FAMILY1 BE+ A SOCIOLOGICAL /UDY MA9LY BAS$ ON ,JAPANESE FAMILY1 TRADITIONS & LAW4 ,?IS WAS PUBLI%$ 9 ,M>X-,/UDI5 & ,ECK/E9 WAS CONSID]$ TO BE ONE ( ! F\ND]S ( ! ,AU/RO-,M>XI/ S*OOL 7SEE NOTE #b#f4.> 

.<,DR ,ANTON ,PANNEKOEK4 ,DUT* A/RONOM]4 ,LECTUR$ AT ! ,C5TRAL ,P>TY ,S*OOL ( ! ,S,P,D BE=E #aiad UNTIL ! ,PRUSSIAN POLICE ?REAT5$ TO DEPORT HIM4 ,AFT] ?IS1 HE BECAME ACTIVE 9 ,BREM5 AS A P>T ( ! ,BREM5 ,S,P,D LEFT4 ,WAS ACTIVE 9 ,DUT* ,COMMUNI/ AFFAIRS AFT] #a#i#a#h1 AGA9 SUPPORT+ ! ,DUT* ,COMMUNI/ LEFT4 ,WAS AN 5?USIA/IC SUPPORT] ( WORK]S' CONTROL ( PRODUCTION & ( WORK]S' C\NCILS AS A =M ( GOV]NM5T4.> 

.<#h.> .<,TABLEAU ECONOMIQUE1 US$ BY ,QUESNAY TO ILLU/RATE HIS VIEWS ON ! DIVISION ( SOCIETY 9TO ECONOMIC CLASSES4 ,!SE W]E ! PRODUCTIVE CLASS :I* CONSI/$ ( ALL ?OSE 5GAG$ 9 AGRICULTURE1 ! CLASS :I* LIV$ FROM ! SURPLUS1 L&LORDS1 ! ,*UR*1 ETC4 & ! /]ILE CLASS :I* CONSI/$ ( ALL ?OSE 5GAG$ 9 MANUFACTUR+ 9DU/RY4 ,= A FULL EXPOSITION ) DIAGRAMS SEE ,PAUL ,M4 ,SWEEZY1 ,! ,!ORY ( ,CAPITALI/ ,DEVELOPM5T4.> 

.<#i.> ',& ! MODELS %[ :O BUYS ! PRODUCTS'3 ',COMRADE ,LUXEMBURG HAS SIMPLY BASICALLY MISUND]/OOD ! NATURE1 AIM & SIGNIFICANCE ( ,M>X'S MODELS4' ,ECK/E91 ,VORW>TS1 #af ,FEBRU>Y #a#i#a#c1 SUPPLEM5T4 

.<#a.> .<,PR\DHON 7#a#h#i-#f#d74 ,FR5* SOCIALI/1 MA9LY REMEMB]$ TODAY BECAUSE ( ,M>X'S POLEMIC AGA9/ HIM1 ,! ,POV]TY ( ,PHILOSOPHY4 ,AL?\< HE DI$ RELATIVELY Y\NG ,PR\DHON WAS A PROLIFIC WRIT]4 ,= BIBLIOGRAPHY SEE ,H5RI DE ,LUBAC1 ,S4,J41 ,! ,UN-,M>XIAN ,SOCIALI/1 ,%E$ @& ,W>D1 ,LONDON #a#i#d#h4.> 

.<#a#a.>,CAPITAL1 ,VOL4,I,I1 P4#d#c#c4 

.<#a#b.>,IBID1 P4#e#g4 

.<#a#c.> ,ECK/E91 ,VORW>TS1 #af ,FEBRU>Y #a#i#a#c1 SUPPLEM5T4 

.<#a#d.> ,OR ELSE WE >E LEFT ) ! SOME:AT OBLIQUE COM=T PROVID$ BY A LITTLE 'EXP]T' FROM ! ,DRESD5] ,VOLKSZEITUNG :O1 AFT] ?OR\<LY DE/ROY+ MY BOOK1 EXPLA9S ?AT CAPITALISM WILL EV5TUALLY COLLAPSE 'BECAUSE ( ! FALL+ RATE ( PR(IT'4 ,ONE IS NOT TOO SURE EXACTLY H[ ! DE> MAN 5VISAGES ?IS - :E!R ! CAPITALI/ CLASS WILL AT A C]TA9 PO9T COMMIT SUICIDE 9 DESPAIR AT ! L[ RATE ( PR(IT1 OR :E!R IT WILL SOMEH[ DECL>E ?AT BUS9ESS IS SO BAD ?AT IT IS SIMPLY NOT WOR? ! TR\BLE1 :]EUPON IT WILL H& ! KEY OV] TO ! PROLET>IAT8 ,H[EV] ?AT MAY BE ?IS COM=T IS UN=TUNATELY DISPELL$ BY A S+LE S5T5CE BY ,M>X1 NAMELY ! /ATEM5T ?AT 'L>GE CAPITALS WILL COMP5SATE = ! FALL 9 ! RATE ( PR(IT BY MASS PRODUCTION'4 ,?US !RE IS /ILL SOME TIME TO PASS BE=E CAPITALISM COLLAPSES BECAUSE ( ! FALL+ RATE ( PR(IT1 R\<LY UNTIL ! SUN BURNS \T4 

.<#a#dA.> _<,MI*AEL VON ,TUGAN-,B>AN[SKY1 ,*APT] #a4 ,! ,FUNDAM5TAL ,CAUSES ( ,CRISES 9 ! ,CAPITALI/ ,ECONOMY1 ,TR4 ,ALEJ&RO ,RAMOS-,M>T9EZ1 ,VALUE1 ,CAPITALI/ ,DYNAMICS & ,MONEY1 #a#h1 P4#g#a4_>4 

.<#a#e.>,NEUE ,ZEIT1 #a#i#b1 ,NO4#e 7#c#a71 P4#a#d4 

.<#a#f.>,NEUE ,ZEIT1 ,NO4#c 7#b#i71 P4#h4 7,MY EMPHASIS1 - ,R4,L47 

.<#a#g.>,NEUE ,ZEIT1 ,NO4#e 7#c#a71 P4#a#d#a4 

.<#a#h.>,NEUE ,ZEIT1 #a#i#a#c1 ,NO4#b#c1 P4#h#c#h4 _<PP4#i#f-#i#g_> 

.<#a#i.>,NEUE ,ZEIT1 #a#i#a#c1 ,NO4#b#d1 PP4#h#g#a-#c4 7,ALL EMPHASIS BY ,BAU]47 _<PP4#a#d-#a#g_> 

.<#b.> .<,RUDOLF ,HILF]D+ 7#a#h#g#g-#a#i#d#d74 ,AU/RIAN4 ,ONE ( ! $ITORS ( ,M>X-,/UDI54 ,LEFT ,VI5NA 9 #aig TO GO TO ,B]L9 :]E HE WAS GIV5 ! PO/ ( LEAD]-WRIT] ON ,VORW>TS4 ,HIS MA9 CONTRIBUTION TO ,M>XI/ !ORY WAS ,DAS ,F9ANZKAPITAL1 PUBLI%$ 9 #a#i#a4 ,?IS WAS ONE ( ! FIR/ ,M>XI/ 9T]PRETATIONS ( ! GR[? ( MONOPOLY & IMP]IALISM4 ,9 #aiad HE WAS P>T ( ! M9ORITY 9 ! ,S,P,D :I* WAS AGA9/ ! VOT+ = W> CR$ITS 9 ! ,REI*/AG BY ! ,S,P,D P>LIAM5T>Y GR\P4 ,HE LAT] BECAME A LEAD] ( ! ,U,S,P,D 7,9DEP5D5T ,SOCIAL ,DEMOCRATIC ,P>TY7 =M$ 9 #a#i#a#g4 ,?IS P>TY WAS OPPOS$ TO ! W> & ,LUXEMBURG1 ,LIEBKNE*T & ,MEHR+ TOOK !IR FOLL[]S 9TO ?IS UNTIL ! CREATION ( ! ,SP>TAKUSBUND4 ,9 #a#i#a#h1 ) ! CREATION ( ! ,REPUBLIC1 ,HILF]D+ BECAME A ,G]MAN CITIZ54 ,9 #aibb HE L$ ! REMNANTS ( ! ,U,S,P,D BACK 9TO ! ,S,P,D4 ,! MAJORITY ( ! ,9DEP5D5TS HAD VOT$ TO JO9 ! ,?IRD ,9T]NATIONAL 9 #aib & HAD FUZ$ ) ! ,K,P,D 7,SP>TAKUSBUND74 ,HILF]D+ BECAME ,F9ANCE ,M9I/] 9 ! ,SOCIAL ,DEMOCRATIC GOV]NM5TS ( #aibc & #a#i#b#h4.> 

.<#b#a.> ,HILF]D+1 ,F9ANCE ,CAPITAL1 P4#c#a#h4 _<,5GLI% TRANSLATION3 P4#b#e#f_> 

.<#b#b.>,VORW>TS1 #af ,FEBRU>Y #a#i#a#c1 SUPPLEM5T4 

.<#b#c.>,NEUE ,ZEIT1 #a#i#a#c1 ,NO4#b#b1 ,!ORETIS*ES ZUR ,URSA*E D] ,KRIS51 PP4#g#h#c1 #g#i#b4 

.<#b#d.>,NEUE ,ZEIT1 #a#i#a#c1 ,NO4#b#d1 P4#h#g#c4 _<P4#a#h4_> 

.<#b#e.> ,! REVIEW] ( ,VORW>TS1 ,ECK/E91 ( ALL MY CRITICS1 HAS UND]/OOD LEA/ :AT IT IS ALL AB\T4 ,HE BELONGS TO ! CATEGORY ( J\RNALI/S :O CAME UP ) ! GR[? ( ! WORK+-CLASS PRESS4 ,HE CAN WRITE ANY?+ AB\T ANY?+3 ,JAPANESE FAMILY LAWS1 MOD]N BIOLOGY1 ! HI/ORY ( SOCIALISM1 E?NOGRAPHY1 CULTURE1 ECONOMICS1 TACTICAL PROBLEMS - :ATEV] IS NE$$ AT ! TIME4 ,!SE UNIV]SAL WRIT]S MOVE AB\T 9 EV]Y SECTOR ( KN[L$GE ) SU* SCRUPUL\S SAFETY ?AT !Y >E ! 5VY ( ANY S]I\S SCI5TI/4 ,:]E !Y HAVE NO UND]/&+ ( ! MATT]1 !Y REPLACE IT BY BECOM+ IMPUD5T & T\<4 ,H]E >E TWO EXAMPLES3 

',LET US RECOGNIZE H]E & N['1 SAYS ,ECK/E9 AT ONE PO9T 9 HIS REVIEW1 '?AT ! AU?OR HAS MISUND]/OOD ! MEAN+ & PURPOSE ( ,M>X'S ANALYSIS1 & ?IS RECOGNITION IS CONFIRM$ BY ! REMA9D] ( H] BOOK4 ,ABOVE ALL1 %E IS COMPLETELY 9CAPABLE ( UND]/&+ ! TE*NIQUE ( !SE MODELS4 ,?IS IS ALREADY QUITE CLE> ON P4#a ( H] BOOK4' 

,!RE ,I AM DEAL+ ) ! FACT ?AT 9 HIS MODELS ,M>X 9CLUDES ! PRODUCTION ( MONEY 9 ! DEP>TM5T ( MEANS ( PRODUCTION4 ,I CRITICIZE ?IS 9 MY BOOK & ATTEMPT TO DEMON/RATE ?AT1 S9CE 9 ITSELF MONEY IS NOT A MEANS ( PRODUCTION1 ?IS CONFUSION MU/ 9EVITABLY RESULT 9 GREAT DIFFICULTIES = A PRECISE TREATM5T ( ! SUBJECT4 ,ECK/E9 C>RIES ON IMPUD5TLY3 

',COMRADE ,LUXEMBURG OBJECTS ?AT ,M>X 9CORPORATES ! PRODUCTION ( MONEY-MAT]IALS1 I4E4 GOLD & SILV]1 9 R[ ,I & CALCULATES IT ) ! PRODUCTION ( MEANS ( PRODUCTION4 ,?AT IS SUPPOS$ TO BE 9CORRECT4 ,= ?IS REASON %E ADDS A ?IRD R[ TO ?OSE CON/RUCT$ BY ,M>X1 :I* IS SUPPOS$ TO REPRES5T ! PRODUCTION ( MONEY-MAT]IALS4' 

,& N[ HE IS BITT]LY DISAPPO9T$6 

',9 ! MODEL CON/RUCT$ BY ,COMRADE ,LUXEMBURG ! DIFFICULTY IS 444 NOT ONLY V]Y GREAT1 IT IS 9SUP]ABLE 444 ,%E H]SELF DOES NOT MAKE ! SLI<TE/ EF=T TO PORTRAY !SE 0ORGANIC TANGLES04 ,! V]Y ATTEMPT W\LD HAVE %[N H] ?AT H] MODEL IS NOT FEASIBLE'1 & SO ON4 

,BUT ! 'MODEL CON/RUCT$ BY ,COMRADE ,LUXEMBURG' ON P4#a WAS NOT 'CON/RUCT$' BY ME AT ALL - BUT BY ,M>X6 ,I SIMPLY WROTE D[N ! FIGURES GIV5 9 ,CAPITAL1 ,VOL4,I,I1 P4#d#g1 9 ORD] TO %[ ?AT1 ACCORD+ TO ,M>X1 IT IS IMPOSSIBLE TO 9CORPORATE ! PRODUCTION ( MONEY1 AS ,I EXPLA9$ EXPLICITLY 9 ! FOLL[+3 

',BESIDES1 A M]E GLANCE AT ,M>X'S MODEL ( REPRODUCTION DEMON/RATES :AT 9CONSI/5CIES MU/ FOLL[ FROM CONFUS+ MEANS ( EX*ANGE ) MEANS ( PRODUCTION4' 

,& ALONG COMES ,ECK/E9 TO BLAME ME = ,M>X'S MODEL1 :I* ,I CRITICIZE1 & TO SCOLD ME BECAUSE ( ?IS MODEL1 LIKE A /UPID HUSSY1 = HAV+ COMPLETELY FAIL$ TO UND]/& '! TE*NIQUE ( !SE MODELS'4 

,ANO!R EXAMPLE3 ON P4#e#a ( ,CAPITAL1 ,VOL4 ,I,I1 ,M>X CON/RUCTS HIS FIR/ ACCUMULATION MODEL1 9 :I* HE ALL[S ! CAPITALI/S ( ! FIR/ DEP>TM5T ALWAYS TO CAPITALIZE #e P] C5T ( !IR SURPLUS VALUE1 BUT LETS IT HAPP5 ANY OLD WAY 9 ! O!R DEP>TM5T1 ) NO VISIBLE RULES1 PURELY ACCORD+ TO ! NE$ ( ! FIR/ DEP>TM5T4 ,I ATTEMPT TO CRITICIZE ?IS ASSUMPTION AS AN >BITR>Y ONE4 ,!N ALONG COMES ,ECK/E9 ) ! FOLL[+ EFFUSION3 

',! MI/AKE LIES 9 ! V]Y WAY %E HAS MADE H] CALCULATIONS1 & ?IS %[S ?AT %E HAS NOT GRASP$ ! ESS5CE ( ,M>X'S MODELS4 ,%E ?9KS ?AT !SE >E BAS$ ON ! REQUIREM5T ( AN EQUAL RATE ( ACCUMULATION1 I4E4 %E ASSUMES ?AT ACCUMULATION ALWAYS PROCE$S EQUALLY 9 BO? MA9 DEP>TM5TS ( SOCIAL PRODUCTION4 ,BUT ?IS ASSUMPTION IS QUITE >BITR>Y & CONTRADICTS ! FACTS 444 ,9 REALITY !RE IS NO SU* G5]AL RATE ( ACCUMULATION & IT W\LD BE A !ORETICAL NONS5SE4' 

,!RE9 RESIDES ! 'SC>CELY COMPREH5SIBLE ]ROR ( ! AU?OR1 :I* %[S ?AT %E IS COMPLETELY PUZZL$ BY ! ESS5CE ( ,M>X'S MODELS'4 ,! REAL LAW ( EQUAL RATE ( PR(IT /&S '9 COMPLETE CONTRADICTION TO ! FICTITI\S LAW ( EQUAL ACCUMULATION' & SO ON ) ?AT MEATY ?OR\<NESS1 SALT$ & PEPP]$1 ) :I* ,ECK/E9 5SURES MY DE/RUCTION4 ,IF 9DE$ 444 !N 9DE$4 ,BUT FIVE PAGES LAT] .<?REE PAGES 9 ! ,F,L,P,H $ITION.> ,M>X GIVES A SECOND EXAMPLE ( HIS ACCUMULATION MODEL1 ! REAL & FUNDAM5TAL MODEL1 :I* HE !N USES EXCLUSIVELY TILL ! 5D1 :IL/ ! FIR/ ONE WAS M]ELY AN ATTEMPT1 A PRELIM9>Y SKET*4 ,& ,M>X CONT9UALLY ASSUMES ! EQUAL RATE ( ACCUMULATION1 '! FICTITI\S LAW'1 9 BO? DEP>TM5TS 9 ?IS SECOND & DEF9ITIVE EXAMPLE6 ,! '!ORETICAL NONS5SE'1 9 'COMPLETE CONTRADICTION TO ! REAL LAW ( EQUAL RATE ( PR(IT' - !SE CAPITAL (F5SES & CAPITAL CRIMES CAN BE F\ND 9 !IR 5TIRETY ON P4#e#a#c ( ,CAPITAL1 ,VOL4,I,I1 & ,M>X IS UNREP5TANT RI<T UP TO ! LA/ L9E ( ! VOLUME4 ,?US ! EFFUSION GOES ALL OV] ! UN=TUNATE ,M>X1 :O WAS OBVI\SLY 'COMPLETELY PUZZL$' BY ! 'ESS5CE' ( HIS [N MODELS4 ,AT LEA/ HE DOES NOT HAVE TO %>E ?IS H>D LUCK ) ME ALONE2 ,BAU]1 TOO1 TAKES HIS FAIR %>E ( IT1 S9CE 9 HIS [N '9CONTE/ABLE' MODELS HE SIMIL>LY /AT$ HIS EXPLICIT ASSUMPTION '?AT ! RATE ( ACCUMULATION IS EQUAL 9 BO? SPH]ES ( PRODUCTION' 7,NEUE ,ZEIT1 OP4 CIT41 P4#h#c#h _<P4#i#f_>74 ,& TO ?9K ?AT ONE IS TREAT$ TO SU* 9SOL5CES BY A FELL[ :O HAS NOT EV5 READ ,M>X'S ,CAPITAL PROP]LY6 ,IT IS *>ACT]I/IC ( ! DOM9ATION ( ! TWO C5TRAL ORGANS ( ,SOCIAL ,DEMOCRACY BY ! ',AU/RO-,M>XI/'.<#b#f.> S*OOL ( EPIGONES ?AT SU* A 'REVIEW' C\LD EV5 APPE> 9 ,VORW>TS4 ,IF ,GOD GRANTS ?AT ,I AM ALIVE TO SEE ! SECOND $ITION ( MY BOOK ,I %ALL NOT BE ROBB$ ( ! OPPORTUNITY TO SAVE ?IS PE>L = PO/]ITY BY PR9T+ IT 9 FULL 9 AN APP5DIX6 

.<#b#f.> .<,AU/RO-,M>XI/ S*OOL4 ,?IS WAS A COLLECTIVE T]M US$ TO D5OTE ,FRI$RI* ,ADL]1 ,RUDOLF ,HILF]D+1 ,OTTO ,BAU]1 ,MAX ,ADL]1 ,GU/AV ,ECK/E91 ,K>L ,R5N] ET AL4 ,?IS WAS NOT AN HOMOG5E\S S*OOL ( ?\<T BUT RA!R A COLLECTION ( 9DIVIDUALS :O ATTEMPT$ TO APPLY ,M>XISM TO A NUMB] ( P>TICUL> PROBLEMS :I* !Y CONSID]$ TO HAVE DEVELOP$ S9CE ,M>X HAD DI$1 OR HAD NOT BE5 DEALT ) BY HIM4 ,!IR IDEAS W]E SET \T 9 A S]IES ( BOOKS UND] ! G5]AL TITLE ( ,M>X-,/UDI5 7,M>X ,/UDIES71 & 9 ! J\RNAL ,D] ,KAMPF1 F\ND$ 9 #aig BY ,OTTO ,BAU]1 ,K>L ,R5N] & ,ADOLF ,BRAUN4.> 

,FROM 3 ,M>XI/S4ORG4 

,*RONOLOGY 3 
,M>* #f1 #bba 3 ,*APT] #b -- ,ADD$4 

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