,SECTION #a1 ,*APT] #a 
,! ,PROBLEM ( ,REPRODUCTION3 ,! ,OBJECT ( ,\R ,9VE/IGATION 

,PEOPLE 3 

,AU?OR 3 ,ROSA ,LUXEMBURG 

,TEXT 3 

,K,>,L ,M,>,X MADE A CONTRIBUTION ( LA/+ S]VICE TO ! !ORY ( ECONOMICS :5 HE DREW ATT5TION TO ! PROBLEM ( ! REPRODUCTION ( ! 5TIRE SOCIAL CAPITAL4 ,IT IS SIGNIFICANT ?AT 9 ! HI/ORY ( ECONOMICS WE F9D ONLY TWO ATTEMPTS AT AN EXACT EXPOSITION ( ?IS PROBLEM3 ONE BY ,QUESNEY1 ! FA!R ( ! ,PHYSIOCRATS1 AT ITS V]Y 9CEPTION2 & 9 ITS F9AL /AGE ?IS ATTEMPT BY ,M>X4 ,9 ! 9T]IM1 ! PROBLEM WAS EV] ) B\RGEOIS ECONOMICS4 ,YET B\RGEOIS ECONOMI/S HAVE NEV] BE5 FULLY AW>E ( ?IS PROBLEM 9 ITS PURE ASPECTS1 DETA*$ FROM RELAT$ & 9T]SECT+ M9OR PROBLEMS3 !Y HAVE NEV] BE5 ABLE TO =MULATE IT PRECISELY1 LET ALONE SOLVE IT4 ,SEE+ ?AT ! PROBLEM IS ( P>AM\NT IMPORTANCE1 !IR ATTEMPTS MAY ALL ! SAME HELP US TO SOME UND]/&+ ( ! TR5D ( SCI5TIFIC ECONOMICS4 

,:AT IS IT PRECISELY ?AT CON/ITUTES ?IS PROBLEM ( ! REPRODUCTION ( TOTAL CAPITAL8 ,! LIT]AL MEAN+ ( ! WORD 'REPRODUCTION' IS REPETITION1 R5EWAL ( ! PROCESS ( PRODUCTION4 ,AT FIR/ SI<T IT MAY BE DIFFICULT TO SEE 9 :AT RESPECT ! IDEA ( REPRODUCTION DIFF]S FROM ?AT ( REPETITION :I* WE CAN ALL UND]/& - :Y SU* A NEW & UNFAMILI> T]M %\LD BE REQUIR$4 ,BUT 9 ! SORT ( REPETITION :I* WE %ALL CONSID]1 9 ! CONT9UAL RECURR5CE ( ! PROCESS ( PRODUCTION1 !RE >E C]TA9 DI/9CTIVE FEATURES4 ,FIR/1 ! REGUL> REPETITION ( REPRODUCTION IS ! G5]AL S9E QUA NON ( REGUL> CONSUMPTION :I* 9 ITS TURN HAS BE5 ! PRECONDITION ( HUMAN CIVILIZATION 9 EV]Y ONE ( ITS HI/ORICAL =MS4 ,! CONCEPT ( REPRODUCTION1 VIEW$ 9 ?IS WAY1 REFLECTS AN ASPECT ( ! HI/ORY ( CIVILIZATION4 ,PRODUCTION CAN NEV] BE RESUM$1 !RE CAN BE NO REPRODUCTION1 UNLESS C]TA9 PR]EQUISITES SU* AS TOOLS1 RAW MAT]IALS & LABOR HAVE BE5 E/ABLI%$ DUR+ ! PREC$+ P]IOD ( PRODUCTION4 ,H[EV]1 AT ! MO/ PRIMITIVE LEVEL ( MAN'S CIVILIZATION1 AT ! 9ITIAL /AGE ( MAN'S P[] OV] NATURE1 ?IS POSSIBILITY TO RE5GAGE 9 PRODUCTION DEP5D$ MORE OR LESS ON *ANCE4 ,SO LONG AS HUNT+ & FI%+ W]E ! MA9 F\NDATIONS ( SOCIAL EXI/5CE1 FREQU5T P]IODS ( G5]AL />VATION 9T]RUPT$ ! REGUL> REPETITION ( PRODUCTION4 ,SOME PRIMITIVE PEOPLES RECOGNIZ$ AT A V]Y E>LY /AGE ?AT = REPRODUCTION AS A REGUL>LY RECURR+ PROCESS C]TA9 MEASURES W]E ESS5TIAL2 !SE !Y 9CORPORAT$ 9TO C]EMONIES ( A RELIGI\S NATURE2 & 9 ?IS WAY !Y ACCEPT$ SU* MEASURES AS TRADITIONAL SOCIAL COMMITM5TS4 ,?US1 AS ! ?OR\< RESE>*ES ( ,SP5C] & ,GILL5 HAVE TAU<T US1 ! TOTEM CULT ( ! ,AU/RALIAN NEGROES IS FUNDAM5TALLY NO?+ BUT C]TA9 MEASURES TAK5 BY SOCIAL GR\PS = ! PURPOSE ( SECUR+ & PRES]V+ !IR ANIMAL & VEGETABLE FOOD/UFFS2 !SE PRECAUTIONS HAD BE5 TAK5 YE> BY YE> S9CE TIME IMMEMORIAL & ?US !Y BECAME FOSSILIZ$ 9TO RELIGI\S C]EMONIALS4 ,YET ! CIRCLE ( CONSUMPTION & PRODUCTION :I* =MS ! ESS5CE ( REPRODUCTION BECAME POSSIBLE ONLY ) ! 9V5TION ( TILLAGE ) ! HOE1 ) ! TAM+ ( DOME/IC ANIMALS1 & ) CATTLE-RAIS+ = ! PURPOSE ( CONSUMPTION4 ,REPRODUCTION IS SOME?+ MORE ?AN M]E REPETITION 9 SO F> AS IT PRESUPPOSES A C]TA9 LEVEL ( SOCIETY'S SUPREMACY OV] NATURE1 OR1 9 ECONOMIC T]MS1 A C]TA9 /&>D ( LABOR PRODUCTIVITY4 

,ON ! O!R H&1 AT ALL /AGES ( SOCIAL DEVELOPM5T1 ! PROCESS ( PRODUCTION IS BAS$ ON ! CONT9UATION ( TWO DIFF]5T1 ?\< CLOSELY CONNECT$ FACTORS1 ! TE*NICAL & SOCIAL CONDITIONS - ON ! PRECISE RELATION%IP BETWE5 MAN & NATURE & ?AT BETWE5 M5 & M54 ,REPRODUCTION DEP5DS TO ! SAME DEGREE ON BO? !SE CONDITIONS4 ,WE HAVE JU/ SE5 H[ REPRODUCTION IS B\ND UP ) ! CONDITIONS ( HUMAN WORK+ TE*NIQUES1 H[ F> IT IS 9DE$ SOLELY ! RESULT ( A C]TA9 LEVEL ( LABOR PRODUCTIVITY2 BUT ! SOCIAL =MS ( PRODUCTION PREVAIL+ 9 EA* CASE >E NO LESS DECISIVE4 ,9 A PRIMITIVE COMMUNI/ AGR>IAN COMMUNITY1 REPRODUCTION AS WELL AS ! :OLE PLAN ( ECONOMIC LIFE IS DET]M9$ BY ! COMMUNITY ( ALL WORK]S & !IR DEMOCRATIC ORGANS4 ,! DECISION TO RE5GAGE 9 LABOR - ! ORGANIZATION ( LABOR - ! PROVISION ( RAW MAT]IALS1 TOOLS1 & MAN-P[]1 AS ! ESS5TIAL PRELIM9>IES ( LABOR - ! >RANGEM5T ( REPRODUCTION & ! DET]M9ATION ( ITS VOLUME >E ALL RESULTS ( A PLANN$ COOP]ATION 9 :I* EV]YBODY )9 ! B\ND>IES ( ! COMMUNITY TAKES HIS P>T4 ,9 AN ECONOMIC SY/EM BAS$ ON SLAVE LABOR OR CORVEE1 REPRODUCTION IS 5=C$ & REGULAT$ 9 ALL DETAILS BY P]SONAL RELATIONS ( DOM9ATION4 ,H]E ! VOLUME ( REPRODUCTION IS DET]M9$ BY ! RI<T ( DISPOSAL HELD BY ! RUL+ ELITES OV] SMALL] OR L>G] CIRCLES ( O!R PEOPLE'S LABOR4 ,9 A SOCIETY PRODUC+ BY CAPITALI/ ME?ODS1 REPRODUCTION ASSUMES A PECULI> =M1 AS A M]E GLANCE AT C]TA9 /RIK+ PH5OM5A WILL %[ US4 ,9 EV]Y O!R SOCIETY KN[N TO HI/ORY1 REPRODUCTION RECURS 9 A REGUL> SEQU5CE AS F> AS ITS PRECONDITIONS1 ! EXI/+ MEANS ( PRODUCTION & LABOR P[]1 MAKE ?IS POSSIBLE4 ,AS A RULE1 ONLY EXT]NAL 9FLU5CES SU* AS A DEVA/AT+ W> OR A GREAT PE/IL5CE1 DEPOPULAT+ VA/ >EAS ( =M] CULTURAL LIFE1 & CONSEQU5TLY DE/ROY+ MASSES ( LABOR P[] & ( ACCUMULAT$ MEANS ( PRODUCTION1 CAN RESULT 9 A COMPLETE 9T]RUPTION ( REPRODUCTION OR 9 ITS CONTRACTION TO ANY CONSID]ABLE EXT5T = LONG] OR %ORT] P]IODS4 ,A DESPOTIC ORGANIZATION ( ! PLAN ( PRODUCTION MAY ON OCCASION LEAD TO SIMIL> PH5OM5A4 ,:5 9 ANCI5T ,EGYPT ,PH>AOH'S WILL *A9$ ?\S&S ( FELLAHE5 = DECADES TO ! BUILD+ ( ! PYRAMIDS2 :5 9 MOD]N ,EGYPT ,ISMAIL ,PA%A ORD]$ #b1 FELLAHE5 TO =C$ LABOR ON ! ,SUEZ ,CANAL2 OR :51 AB\T TWO HUNDR$ YE>S BE=E ,*RI/1 ! ,EMP]OR ,%I ,HOANG ,TI1 F\ND] ( ! ,*9 DYNA/Y1 ALL[$ #d1 PEOPLE TO P]I% ( HUNG] & EXHAU/ION & ?US SACRIFIC$ A :OLE G5]ATION TO HIS PURPOSE ( CONSOLIDAT+ ! ,GREAT ,WALL AT ,*9A'S NOR!RN FRONTI]1 ! RESULT WAS ALWAYS ?AT VA/ /RET*ES ( >ABLE L& W]E LEFT FALL[ & ?AT REGUL> ECONOMIC LIFE WAS 9T]RUPT$ = LONG P]IODS4 ,9 ALL !SE CASES ! CAUSES ( !SE 9T]RUPTIONS ( REPRODUCTION OBVI\SLY LAY 9 ! ONE-SID$ DET]M9ATION ( ! PLAN ( REPRODUCTION BY ?OSE 9 P[]4 

,SOCIETIES :I* PRODUCE ACCORD+ TO CAPITALI/ ME?ODS PRES5T A DIFF]5T PICTURE4 ,WE OBS]VE ?AT 9 C]TA9 P]IODS ALL ! +R$I5TS ( REPRODUCTION MAY BE AVAILABLE1 BO? LABOR & MEANS ( PRODUCTION1 & YET SOME VITAL NE$S ( SOCIETY = CONSUM] GOODS MAY BE LEFT UNFULFILL$4 ,WE F9D ?AT 9 SPITE ( !SE RES\RCES REPRODUCTION MAY 9 P>T BE COMPLETELY SUSP5D$ & 9 P>T CURTAIL$4 ,H]E IT IS NO DESPOTIC 9T]F]5CE ) ! ECONOMIC PLAN ?AT IS RESPONSIBLE = ! DIFFICULTIES 9 ! PROCESS ( PRODUCTION4 ,QUITE AP>T FROM ALL TE*NICAL CONDITIONS1 REPRODUCTION H]E DEP5DS ON PURELY SOCIAL CONSID]ATIONS3 ONLY ?OSE GOODS >E PRODUC$ :I* CAN ) C]TA9TY HE EXPECT$ TO SELL1 & NOT M]ELY TO SELL1 BUT TO SELL AT ! CU/OM>Y PR(IT4 ,?US PR(IT BECOMES AN 5D 9 ITSELF1 ! DECISIVE FACTOR :I* DET]M9ES NOT ONLY PRODUCTION BUT ALSO REPRODUCTION4 ,NOT ONLY DOES IT DECIDE 9 EA* CASE :AT WORK IS TO BE UND]TAK51 H[ IT IS TO BE C>RI$ \T1 & H[ ! PRODUCTS >E TO BE DI/RIBUT$2 :AT IS MORE1 PR(IT DECIDES1 ALSO1 AT ! 5D ( EV]Y WORK+ P]IOD1 :E!R ! LABOR PROCESS IS TO BE RESUM$1 &1 IF SO1 TO :AT EXT5T & 9 :AT DIRECTION IT %\LD BE MADE TO OP]ATE47#a7 

,9 CAPITALI/ SOCIETY1 !RE=E1 ! PROCESS ( REPRODUCTION AS A :OLE1 CON/ITUTES A PECULI> & MO/ COMPLICAT$ PROBLEM1 9 CONSEQU5CE ( !SE PURELY HI/ORICAL & SOCIAL FACTORS4 ,!RE IS1 AS WE %ALL SEE1 AN EXT]NAL *>ACT]I/IC :I* %[S CLE>LY ?IS SPECIFIC HI/ORICAL PECULI>ITY ( ! CAPITALI/ PROCESS ( REPRODUCTION4 ,COMPRIS+ NOT ONLY PRODUCTION BUT ALSO CIRCULATION 7! PROCESS ( EX*ANGE71 IT UNITES !SE TWO ELEM5TS4 ,CAPITALI/1 PRODUCTION IS PRIM>ILY PRODUCTION BY 9NUM]ABLE PRIVATE PRODUC]S )\T ANY PLANN$ REGULATION4 ,! ONLY SOCIAL L9K BETWE5 !SE PRODUC]S IS ! ACT ( EX*ANGE4 ,9 TAK+ ACC\NT ( SOCIAL REQUIREM5TS REPRODUCTION HAS NO CLUE TO GO ON O!R ?AN ! EXP]I5CES ( ! PREC$+ LABOR P]IOD4 ,!SE EXP]I5CES1 H[EV]1 REMA9 ! PRIVATE EXP]I5CES ( 9DIVIDUAL PRODUC]S & >E NOT 9TEGRAT$ 9TO A COMPREH5SIVE & SOCIAL =M4 ,MOREOV]1 !Y DO NOT ALWAYS REF] POSITIVELY & DIRECTLY TO ! NE$S ( SOCIETY4 ,!Y >E (T5 RA!R 9DIRECT & NEGATIVE1 = IT IS ONLY ON ! BASIS ( PRICE FLUCTUATIONS ?AT !Y 9DICATE :E!R ! AGGREGATE ( PRODUC$ COMMODITIES FALLS %ORT ( ! EFFECTIVE DEM& OR EXCE$S IT4 ,YET ! 9DIVIDUAL PRIVATE PRODUC]S MAKE RECURR5T USE ( !SE EXP]I5CES ( ! PREC$+ LABOR P]IOD :5 !Y RE5GAGE 9 REPRODUCTION1 SO ?AT GLUT OR %ORTAGE >E B\ND TO OCCUR AGA9 9 ! FOLL[+ P]IOD4 ,9DIVIDUAL BRAN*ES ( PRODUCTION MAY DEVELOP 9DEP5D5TLY1 SO ?AT !RE MAY BE A SURPLUS 9 ONE BRAN* & A DEFICI5CY 9 ANO!R4 ,BUT AS NE>LY ALL 9DIVIDUAL BRAN*ES ( PRODUCTION >E 9T]DEP5D5T TE*NICALLY1 GLUT OR %ORTAGE 9 SOME ( ! L>G] BRAN*ES ( PRODUCTION LEAD TO ! SAME PH5OM5ON 9 MO/ ( ! O!RS4 ,?US ! G5]AL SUPPLY ( PRODUCTS MAY ALT]NATE P]IODICALLY BETWE5 %ORTAGE & SURPLUS RELATIVE TO ! SOCIAL DEM&4 

,H]E9 LIES ! PECULI> *>ACT] ( REPRODUCTION 9 A CAPITALI/ SOCIETY1 :I* DIFF]S FROM ALL O!R KN[N =MS ( PRODUCTION4 ,9 ! FIR/ PLACE1 EV]Y BRAN* ( PRODUCTION DEVELOPS 9DEP5D5TLY )9 C]TA9 LIMITS1 9 A WAY ?AT LEADS TO P]IODICAL 9T]RUPTIONS ( PRODUCTION ( %ORT] OR LONG] DURATION4 ,SECONDLY1 ! 9DIVIDUAL BRAN*ES ( REPRODUCTION %[ DEVIATIONS FROM SOCIAL REQUIREM5TS AM\NT+ TO ALL-R\ND DISP>ITY & ?US RESULT+ 9 A G5]AL 9T]RUPTION ( REPRODUCTION4 ,!SE FEATURES ( CAPITALI/ REPRODUCTION >E QUITE *>ACT]I/IC4 ,9 ALL O!R ECONOMIC SY/EMS1 REPRODUCTION RUNS ITS UN9T]RUPT$ & REGUL> C\RSE1 AP>T FROM EXT]NAL DI/URBANCE BY VIOL5CE4 ,CAPITALI/ REPRODUCTION1 H[EV]1 TO QUOTE ,SISMONDI'S WELL-KN[N DICTUM1 CAN ONLY BE REPRES5T$ AS A CONT9U\S SEQU5CE ( 9DIVIDUAL SPIRALS4 ,EV]Y SU* SPIRAL />TS ) SMALL LOOPS :I* BECOME 9CREAS+LY L>G] & EV5TUALLY V]Y L>GE 9DE$4 ,!N !Y CONTRACT1 & A NEW SPIRAL />TS AGA9 ) SMALL LOOPS1 REPEAT+ ! FIGURE UP TO ! PO9T ( 9T]RUPTION4 ,?IS P]IODICAL FLUCTUATION BETWE5 ! L>GE/ VOLUME ( REPRODUCTION & ITS CONTRACTION TO P>TIAL SUSP5SION1 ?IS CYCLE ( SLUMP1 BOOM1 & CRISIS1 AS IT HAS BE5 CALL$1 IS ! MO/ /RIK+ PECULI>ITY ( CAPITALI/ REPRODUCTION4 

,IT IS V]Y IMPORTANT1 H[EV]1 TO E/ABLI% QUITE FIRMLY & FROM ! V]Y \TSET ?AT ?IS CYCLICAL MOVEM5T ( BOOM1 SLUMP1 & CRISIS1 DOES NOT REPRES5T ! :OLE PROBLEM ( CAPITALI/ REPRODUCTION1 AL?\< IT IS AN ESS5TIAL ELEM5T ( IT4 ,P]IODICAL CYCLES & CRISES >E SPECIFIC PHASES ( REPRODUCTION 9 A CAPITALI/ SY/EM ( ECONOMY1 BUT NOT ! :OLE ( ?IS PROCESS4 ,9 ORD] TO DEMON/RATE ! PURE IMPLICATIONS ( CAPITALI/ REPRODUCTION WE MU/ RA!R CONSID] IT QUITE AP>T FROM ! P]IODICAL CYCLES & CRISES4 ,/RANGE AS ?IS MAY APPE>1 ! ME?OD IS QUITE RATIONAL2 IT IS 9DE$ ! ONLY ME?OD ( 9QUIRY ?AT IS SCI5TIFICALLY T5ABLE4 ,9 ORD] TO DEMON/RATE & TO SOLVE ! PROBLEM ( PURE VALUE WE MU/ LEAVE PRICE FLUCTUATIONS \T ( CONSID]ATION4 ,! APPROA* ( VULG> ECONOMICS ALWAYS ATTEMPTS TO SOLVE ! PROBLEM ( VALUE BY REF]5CE TO FLUCTUATIONS 9 DEM& & SUPPLY4 ,CLASSICAL ECONOMI/S1 FROM ,ADAM ,SMI? TO ,K>L ,M>X1 ATTACK ! PROBLEM 9 ! OPPOSITE WAY1 PO9T+ \T ?AT FLUCTUATIONS 9 ! MUTUAL RELATION BETWE5 DEM& & SUPPLY CAN EXPLA9 ONLY DISP>ITIES BETWE5 PRICE & VALUE1 NOT VALUE ITSELF4 ,9 ORD] TO F9D ! VALUE ( A COMMODITY1 WE MU/ />T BY ASSUM+ ?AT DEM& & SUPPLY >E 9 A /ATE ( EQUILIBRIUM1 ?AT ! PRICE ( A COMMODITY & ITS VALUE CLOSELY CORRESPOND TO ONE ANO!R4 ,?US ! SCI5TIFIC PROBLEM ( VALUE BEG9S AT ! V]Y PO9T :]E ! EFFECT ( DEM& & SUPPLY CEASES TO OP]ATE4 

,9 CONSEQU5CE ( P]IODICAL CYCLES & CRISES CAPITALI/ REPRODUCTION FLUCTUATES AS A RULE >\ND ! LEVEL ( ! EFFECTIVE TOTAL DEM& ( SOCIETY1 SOMETIMES RIS+ ABOVE & SOMETIMES FALL+ BEL[ ?IS LEVEL1 CONTRACT+ OCCASIONALLY EV5 TO ! PO9T ( ALMO/ COMPLETE 9T]RUPTION ( REPRODUCTION4 ,H[EV]1 IF WE CONSID] A LONG] P]IOD1 A :OLE CYCLE ) ITS ALT]NAT+ PHASES ( PROSP]ITY & DEPRESSION1 ( BOOM & SLUMP1 ?AT IS IF WE CONSID] REPRODUCTION AT ITS HI<E/ & L[E/ VOLUME1 9CLUD+ ! /AGE ( SUSP5SION1 WE CAN SET (F BOOM AGA9/ SLUMP & WORK \T AN AV]AGE1 A MEAN VOLUME ( REPRODUCTION = ! :OLE CYCLE4 ,?IS AV]AGE IS NOT ONLY A !ORETICAL FIGM5T ( ?\<T1 IT IS ALSO A REAL OBJECTIVE FACT4 ,= 9 SPITE ( ! %>P RISES & FALLS 9 ! C\RSE ( A CYCLE1 9 SPITE ( CRISES1 ! NE$S ( SOCIETY >E ALWAYS SATISFI$1 MORE OR LESS1 REPRODUCTION CONT9UES ON ITS COMPLICAT$ C\RSE1 & PRODUCTIVE CAPACITIES DEVELOP PROGRESSIVELY4 ,H[ CAN ?IS TAKE PLACE1 LEAV+ CYCLES & CRISES \T ( CONSID]ATION8 ,H]E ! REAL QUE/ION BEG9S4 ,! ATTEMPT TO SOLVE ! PROBLEM ( REPRODUCTION 9 T]MS ( ! P]IODICAL *>ACT] ( CRISES IS FUNDAM5TALLY A DEVICE ( VULG> ECONOMICS1 JU/ LIKE ! ATTEMPT TO SOLVE ! PROBLEM1 ( VALUE 9 T]MS ( FLUCTUATIONS 9 DEM& & SUPPLY4 ,NEV]!LESS1 WE %ALL SEE 9 ! C\RSE ( \R OBS]VATIONS ?AT AS SOON AS ECONOMIC !ORY GETS AN 9KL+ ( ! PROBLEM ( REPRODUCTION1 AS SOON AS IT HAS AT LEA/ />T$ GUESS+ AT ! PROBLEM1 IT REVEALS A P]SI/5T T5D5CY1 SUDD5LY TO TRANS=M ! PROBLEM ( REPRODUCTION 9TO ! PROBLEM ( CRISES1 ?US B>R+ ITS [N WAY TO ! SOLUTION ( ! QUE/ION4 ,:5 WE SPEAK ( CAPITALI/ REPRODUCTION 9 ! FOLL[+ EXPOSITION1 WE %ALL ALWAYS UND]/& BY ?IS T]M A MEAN VOLUME ( PRODUCTIVITY :I* IS AN AV]AGE TAK5 OV] ! V>I\S PHASES ( A CYCLE4 

,N[1 ! TOTAL ( CAPITALI/ REPRODUCTION IS CREAT$ BY AN UNLIMIT$ & CON/ANTLY *ANG+ NUMB] ( PRIVATE PRODUC]S4 ,!Y PRODUCE 9DEP5D5TLY ( ONE ANO!R2 AP>T FROM ! OBS]VATION ( PRICE FLUCTUATIONS !RE IS NO SOCIAL CONTROL - NO SOCIAL L9K EXI/S BETWE5 ! 9DIVIDUAL PRODUC]S O!R ?AN ! EX*ANGE ( COMMODITIES4 ,! QUE/ION >ISES H[ !SE 9NUM]ABLE DISCONNECT$ OP]ATIONS CAN LEAD TO ! ACTUAL TOTAL ( PRODUCTION4 ,?IS G5]AL ASPECT ( \R PROBLEM 9DE$ /RIKES US IMM$IATELY AS ONE ( PRIME IMPORTANCE4 ,BUT IF WE PUT IT ?IS WAY1 WE OV]LOOK ! FACT ?AT SU* PRIVATE PRODUC]S >E NOT SIMPLY PRODUC]S ( COMMODITIES BUT >E ESS5TIALLY CAPITALI/ PRODUC]S1 ?AT ! TOTAL PRODUCTION ( SOCIETY IS NOT SIMPLY PRODUCTION = ! SAKE ( SATISFY+ SOCIAL REQUIREM5TS1 & EQUALLY NOT M]ELY PRODUCTION ( COMMODITIES1 BUT ESS5TIALLY CAPITALI/ PRODUCTION4 

,LET US EXAM9E \R PROBLEM ANEW 9 ! LI<T ( ?IS FACT4 ,A PRODUC] :O PRODUCES NOT ONLY COMMODITIES BUT CAPITAL MU/ ABOVE ALL CREATE SURPLUS VALUE4 ,! CAPITALI/ PRODUC]'S F9AL GOAL1 HIS MA9 9C5TIVE1 IS ! PRODUCTION ( SURPLUS VALUE4 ,! PROCE$S FROM ! COMMODITIES HE HAS MANUFACTUR$ MU/ NOT ONLY RECOMP5SE HIM = ALL HIS \TLAY1 BUT 9 ADDITION !Y MU/ YIELD HIM A VALUE :I* DOES NOT CORRESPOND ) ANY EXP5SE ON HIS P>T1 & IS PURE GA94 ,IF WE CONSID] ! PROCESS ( PRODUCTION FROM ! PO9T ( VIEW ( ! CREATION ( SURPLUS VALUE1 WE SEE ?AT ! CAPITAL ADVANC$ BY ! CAPITALI/ IS DIVID$ 9TO TWO P>TS3 ! FIR/ P>T REPRES5TS HIS EXP5SES ON MEANS ( PRODUCTION SU* AS PREMISES1 RAW MAT]IAL1 P>TLY F9I%$ GOODS & MA*9]Y4 ,! SECOND P>T IS SP5T ON WAGES4 ,?IS HOLDS GOOD1 EV5 IF ! CAPITALI/ PRODUC] DOES NOT KN[ IT HIMSELF1 & 9 SPITE ( ! PI\S /UFF AB\T FIX$ & CIRCULAT+ CAPITAL ) :I* HE MAY DELUDE HIMSELF & ! WORLD4 ,M>X CALL$ ?IS FIR/ P>T CON/ANT CAPITAL4 ,ITS VALUE IS NOT *ANG$ BY ITS UTILIZATION 9 ! LABOR PROCESS - IT IS TRANSF]R$ 9 TOTO TO ! F9I%$ PRODUCT4 ,! SECOND P>T ,M>X CALLS ! V>IABLE CAPITAL4 ,?IS GIVES RISE TO AN ADDITIONAL VALUE1 :I* MAT]IALIZES :5 ! RESULTS ( UNPAID LABOR >E APPROPRIAT$4 ,! V>I\S COMPON5TS :I* MAKE UP ! VALUE ( EV]Y COMMODITY PRODUC$ BY CAPITALI/ ME?ODS MAY BE EXPRESS$ BY ! =MULA3 C "4 V "4 S4,9 ?IS =MULA C /&S = ! VALUE ( ! CON/ANT CAPITAL LAID \T 9 9ANIMATE MEANS ( PRODUCTION & TRANSF]R$ TO ! COMMODITY1 V /&S = ! VALUE ( ! V>IABLE CAPITAL ADVANC$ 9=M ( WAGES1 & S /&S = ! SURPLUS VALUE1 ! ADDITIONAL VALUE ( ! UNPAID P>T ( WAGE LABOR4 ,EV]Y TYPE ( GOODS %[S !SE ?REE COMPON5TS ( VALUE1 :E!R WE CONSID] AN 9DIVIDUAL COMMODITY OR ! AGGREGATE ( COMMODITIES AS A :OLE1 :E!R WE CONSID] COTTON TEXTILES OR BALLET P]=MANCES1 CA/-IRON TUBES OR LIB]AL NEWSPAP]S4 ,?US = ! CAPITALI/ PRODUC] ! MANUFACTURE ( COMMODITIES IS NOT AN 5D 9 ITSELF1 IT IS ONLY A MEANS TO ! APPROPRIATION ( SURPLUS VALUE4 ,?IS SURPLUS VALUE1 H[EV]1 CAN BE ( NO USE TO ! CAPITALI/ SO LONG AS IT REMA9S HIDD5 9 ! COMMODITY =M ( ! PRODUCT4 ,ONCE ! COMMODITY HAS BE5 PRODUC$1 IT MU/ BE REALIZ$1 IT MU/ BE CONV]T$ 9TO A =M ( PURE VALUE2 ?AT IS1 9TO MONEY4 ,ALL CAPITAL EXP5SES 9CORPORAT$ 9 ! COMMODITY MU/ %$ !IR COMMODITY-=M & REV]T TO ! CAPITALI/ AS MONEY TO MAKE ?IS CONV]SION POSSIBLE SO ?AT HE CAN APPROPRIATE ! SURPLUS VALUE 9 CA%4 ,! PURPOSE ( PRODUCTION IS FULFILL$ ONLY :5 ?IS CONV]SION HAS BE5 SUCCESSFUL1 ONLY :5 ! AGGREGATE ( COMMODITIES HAS BE5 SOLD ACCORD+ TO ITS VALUE4 ,! PROCE$S ( ?IS SALE ( COMMODITIES1 ! MONEY ?AT HAS BE5 RECEIV$ = !M1 CONTA9S ! SAME COMPON5TS ( VALUE AS ! =M] AGGREGATE ( COMMODITIES & CAN BE EXPRESS$ BY ! SAME =MULA C "4 V "4 S4 ,P>T C RECOMP5SES ! CAPITALI/ = HIS ADVANCES ON MEANS ( PRODUCTION ?AT HAVE BE5 US$ UP1 P>T V RECOMP5SES HIM = HIS ADVANCES ON WAGES1 & ! LA/ P>T1 S1 REPRES5TS ! EXPECT$ SURPLUS1 ! CAPITALI/'S CLE> PR(IT 9 CA%47#b7 

,?IS CONV]SION ( CAPITAL FROM ITS ORIG9AL =M1 FROM ! />T+ PO9T ( ALL CAPITALI/ PRODUCTION1 9TO MEANS ( PRODUCTION1 DEAD & LIV+1 SU* AS RAW MAT]IALS1 9/RUM5TS1 & LABOR2 ITS FUR!R CONV]SION 9TO COMMODITIES BY A LIV+ LABOR PROCESS2 & ITS F9AL RECONV]SION 9TO MONEY1 A GREAT] AM\NT ( MONEY 9DE$ ?AN AT ! 9ITIAL /AGE - ?IS TRANS=MATION ( CAPITAL IS1 H[EV]1 REQUIR$ = MORE ?AN ! PRODUCTION & APPROPRIATION ( SURPLUS VALUE4 ,! AIM & 9C5TIVE ( CAPITALI/ PRODUCTION IS NOT A SURPLUS VALUE PURE & SIMPLE1 TO BE APPROPRIAT$ 9 ANY DESIR$ QUANTITY1 BUT A SURPLUS VALUE EV] GR[+ 9TO L>G] QUANTITIES1 SURPLUS VALUE AD 9F9ITUM4 ,BUT TO A*IEVE ?IS AIM1 ! SAME MAGIC MEANS MU/ BE US$ OV] & OV] AGA91 ! MEANS ( CAPITALI/ PRODUCTION - ! EV] REPEAT$ APPROPRIATION ( ! PROCE$S ( UNPAID WAGE LABOR 9 ! PROCESS ( COMMODITY MANUFACTURE1 & ! SUBSEQU5T REALIZATION ( ! COMMODITIES SO PRODUC$4 

,?US QUITE A NEW 9C5TIVE IS GIV5 TO CON/ANTLY R5EW$ PRODUCTION1 TO ! PROCESS ( REPRODUCTION AS A REGUL> PH5OM5ON 9 CAPITALI/ SOCIETY1 AN 9C5TIVE UNKN[N TO ANY O!R SY/EM ( PRODUCTION4 ,9 EV]Y O!R ECONOMIC SY/EM KN[N TO HI/ORY1 REPRODUCTION IS DET]M9$ BY ! UNCEAS+ NE$ ( SOCIETY = CONSUM] GOODS1 :E!R !Y >E ! NE$S ( ALL ! WORK]S DET]M9$ 9 A DEMOCRATIC MANN] AS 9 AN AGR>IAN & COMMUNI/ M>KET COMMUNITY1 OR ! DESPOTICALLY DET]M9$ NE$S ( AN ANTAGONI/IC CLASS SOCIETY1 AS 9 AN ECONOMY ( SLAVE LABOR1 OR CORVEE & ! LIKE4 ,BUT 9 A CAPITALI/ SY/EM ( PRODUCTION1 IT IS NOT CONSID]ATION ( SOCIAL NE$S :I* ACTUATES ! 9DIVIDUAL PRIVATE PRODUC] :O ALONE MATT]S 9 ?IS CONNECTION4 ,HIS PRODUCTION IS DET]M9$ 5TIRELY BY ! EFFECTIVE DEM&1 & EV5 ?IS IS TO HIM A M]E MEANS = ! REALIZATION ( SURPLUS VALUE :I* = HIM IS 9DISP5SABLE4 ,APPROPRIATION ( SURPLUS VALUE IS HIS REAL 9C5TIVE1 & PRODUCTION ( CONSUM] GOODS = ! SATISFACTION ( ! EFFECTIVE DEM& IS ONLY A DET\R :5 WE LOOK TO ! REAL MOTIVE1 ?AT ( APPROPRIATION ( SURPLUS VALUE1 AL?\< = ! 9DIVIDUAL CAPITALI/ IT IS ALSO A RULE ( NECESSITY4 ,?IS MOTIVE1 TO APPROPRIATE SURPLUS VALUE1 ALSO URGES HIM TO RE5GAGE 9 REPRODUCTION OV] & OV] AGA94 ,IT IS ! PRODUCTION ( SURPLUS VALUE :I* TURNS REPRODUCTION ( SOCIAL NECESSITIES 9TO A P]PETUUM MOBILE4 ,REPRODUCTION1 = ITS P>T1 CAN OBVI\SLY BE ONLY RESUM$ :5 ! PRODUCTS ( ! PREVI\S P]IOD1 ! COMMODITIES1 HAVE BE5 REALIZ$2 ?AT IS1 CONV]T$ 9TO MONEY2 = CAPITAL 9 ! =M ( MONEY1 9 ! =M ( PURE VALUE1 MU/ ALWAYS BE ! />T+ PO9T ( REPRODUCTION 9 A CAPITALI/ SY/EM4 ,! FIR/ CONDITION ( REPRODUCTION = ! CAPITALI/ PRODUC] IS ?US SE5 TO BE A SUCCESSFUL REALIZATION ( ! COMMODITIES PRODUC$ DUR+ ! PREC$+ P]IOD ( PRODUCTION4 

,N[ WE COME TO A SECOND IMPORTANT PO9T4 ,UND] A SY/EM ( PRIVATE ECONOMY1 IT IS ! 9DIVIDUAL PRODUC] :O DET]M9ES ! VOLUME ( REPRODUCTION AT HIS DISCRETION4 ,HIS MA9 9C5TIVE IS APPROPRIATION ( SURPLUS VALUE1 9DE$ AN APPROPRIATION 9CREAS+ AS RAPIDLY AS POSSIBLE4 ,AN ACCEL]AT$ APPROPRIATION ( SURPLUS VALUE1 H[EV]1 NECESSITATES AN 9CREAS$ PRODUCTION ( CAPITAL TO G5]ATE ?IS SURPLUS VALUE4 ,H]E A L>GE-SCALE 5T]PRISE 5JOYS ADVANTAGES OV] A SMALL ONE 9 EV]Y RESPECT4 ,9 F9E1 ! CAPITALI/ ME?OD ( PRODUCTION FURNI%ES NOT ONLY A P]MAN5T 9C5TIVE TO REPRODUCTION 9 G5]AL1 BUT ALSO A MOTIVE = ITS EXPANSION1 = REPRODUCTION ON AN EV] L>G] SCALE4 

,NOR IS ?AT ALL4 ,CAPITALI/ ME?ODS ( PRODUCTION DO MORE ?AN AWAK5 9 ! CAPITALI/ ?IS ?IR/ = SURPLUS VALUE :]EBY HE IS IMPELL$ TO CEASELESS EXPANSION ( REPRODUCTION4 ,EXPANSION BECOMES 9 TRU? A CO]CIVE LAW1 AN ECONOMIC CONDITION ( EXI/5CE = ! 9DIVIDUAL CAPITALI/4 ,UND] ! RULE ( COMPETITION1 *EAPNESS ( COMMODITIES IS ! MO/ IMPORTANT WEAPON ( ! 9DIVIDUAL CAPITALI/ 9 HIS /RUGGLE = A PLACE 9 ! M>KET4 ,N[ ALL ME?ODS ( R$UC+ ! CO/ ( COMMODITY PRODUCTION P]MAN5TLY AM\NT 9 ! 5D TO AN EXPANSION ( PRODUCTION2 EXCEPT+ ?OSE ONLY :I* AIM AT A SPECIFIC 9CREASE ( ! RATE ( SURPLUS VALUE BY MEASURES SU* AS WAGE CUTT+ OR L5G!N+ ! H\RS ( WORK4 ,AS = !SE LATT] DEVICES1 !Y >E AS SU* LIKELY TO 5C\NT] MANY OB/ACLES4 ,9 ?IS RESPECT1 A L>GE 5T]PRISE 9V>IABLY 5JOYS ADVANTAGES ( EV]Y K9D OV] A SMALL OR M$IUM CONC]N4 ,!Y MAY RANGE FROM A SAV+ 9 PREMISES OR 9/RUM5TS1 9 ! APPLICATION ( MORE EFFICI5T MEANS ( PRODUCTION1 9 EXT5SIVE REPLACEM5T ( MANUAL LABOR BY MA*9]Y1 D[N TO A SPE$Y EXPLOITATION ( A FAVORABLE TURN ( ! M>KET SO AS TO ACQUIRE RAW MAT]IALS *EAPLY4 ,)9 V]Y WIDE LIMITS1 !SE ADVANTAGES 9CREASE 9 DIRECT PROPORTION TO ! EXPANSION ( ! 5T]PRISE4 ,?US1 AS SOON AS A FEW CAPITALI/ 5T]PRISES HAVE BE5 5L>G$1 COMPETITION ITSELF =CES ALL O!RS TO EXP& LIKEWISE4 ,EXPANSION BECOMES A CONDITION ( EXI/5CE4 ,A GR[+ T5D5CY T[>DS REPRODUCTION AT A PROGRESSIVELY 9CREAS+ SCALE ?US1 5SUES1 :I* SPREADS AUTOMATICALLY LIKE A TIDAL WAVE OV] EV] L>G] SURFACES ( REPRODUCTION4 

,EXP&+ REPRODUCTION IS NOT A NEW DISCOV]Y ( CAPITAL4 ,ON ! CONTR>Y1 IT HAD BE5 ! RULE S9CE TIME IMMEMORIAL 9 EV]Y =M ( SOCIETY ?AT DISPLAY$ ECONOMIC & CULTURAL PROGRESS4 ,IT IS TRUE1 ( C\RSE1 ?AT SIMPLE REPRODUCTION AS A M]E CONT9U\S REPETITION ( ! PROCESS ( PRODUCTION ON ! SAME SCALE AS BE=E CAN BE OBS]V$ OV] LONG P]IODS ( SOCIAL HI/ORY4 ,9 ! ANCI5T AGR>IAN & COMMUNI/ VILLAGE COMMUNITIES1 = 9/ANCE1 9CREASE 9 POPULATION DID NOT LEAD TO A GRADUAL EXPANSION ( PRODUCTION1 BUT RA!R TO ! NEW G5]ATION BE+ EXPELL$ & ! SUBSEQU5T F\ND+ ( EQUALLY SMALL & SELF-SUFFICI5T COLONIES4 ,! OLD SMALL H&ICRAFT UNITS ( ,9DIA & ,*9A PROVIDE SIMIL> 9/ANCES ( A TRADITIONAL REPETITION ( PRODUCTION 9 ! SAME =MS & ON ! SAME SCALE1 H&$ D[N FROM G5]ATION TO G5]ATION4 ,BUT SIMPLE REPRODUCTION IS 9 ALL !SE CASES ! S\RCE & UNMI/AKABLE SIGN ( A G5]AL ECONOMIC & CULTURAL /AGNATION4 ,NO IMPORTANT =W>D /EP 9 PRODUCTION1 NO MEMORIAL ( CIVILIZATION1 SU* AS ! GREAT WAT]WORKS ( ! ,EA/1 ! PYRAMIDS ( ,EGYPT1 ! MILIT>Y ROADS ( ,ROME1 ! ,>TS & ,SCI5CES ( ,GREECE1 OR ! DEVELOPM5T ( CRAFTSMAN%IP & T[NS 9 ! ,MIDDLE ,AGES W\LD HAVE BE5 POSSIBLE )\T EXP&+ REPRODUCTION2 = ! BASIS & ALSO ! SOCIAL 9C5TIVE = A DECISIVE ADVANCEM5T ( CIVILIZATION LIES SOLELY 9 ! GRADUAL EXPANSION ( PRODUCTION BEYOND IMM$IATE REQUIREM5TS1 & 9 A CONT9UAL GR[? ( ! POPULATION ITSELF AS WELL AS ( ITS DEM&S4 

,EX*ANGE 9 P>TICUL>1 :I* BR\<T AB\T A CLASS SOCIETY1 & ITS HI/ORICAL DEVELOPM5T 9TO ! CAPITALI/ =M ( ECONOMY1 W\LD HAVE BE5 UN?9KABLE )\T EXP&+ REPRODUCTION4 ,9 A CAPITALI/ SOCIETY1 MOREOV]1 EXP&+ REPRODUCTION ACQUIRES C]TA9 *>ACT]I/ICS4 ,AS WE HAVE ALREADY M5TION$1 IT BECOMES RI<T AWAY A CO]CIVE LAW TO ! 9DIVIDUAL CAPITALI/4 ,CAPITALI/ ME?ODS ( PRODUCTION DO NOT EXCLUDE SIMPLE OR EV5 RETROGRESSIVE REPRODUCTION2 9DE$1 ?IS IS RESPONSIBLE = ! P]IODICAL PH5OM5ON ( CRISES FOLL[+ PHASES1 LIKEWISE P]IODICAL1 ( OV]/RA9$ EXPANSION ( REPRODUCTION 9 TIMES ( BOOM4 ,BUT IGNOR+ P]IODICAL FLUCTUATIONS1 ! G5]AL TR5D ( REPRODUCTION IS EV] T[>DS EXPANSION4 ,= ! 9DIVIDUAL CAPITALI/1 FAILURE TO KEEP ABREA/ ( ?IS EXPANSION MEANS QUITT+ ! COMPETITIVE /RUGGLE1 ECONOMIC DEA?4 

,MOREOV]1 !RE >E C]TA9 O!R ASPECTS TO BE CONSID]$4 ,! CONCEPT ( EXP&+ REPRODUCTION APPLIES ONLY TO ! QUANTITY ( PRODUCTS1 TO ! AGGREGATE ( MANUFACTUR$ OBJECTS4 ,SO LONG AS PRODUCTION RE/S SOLELY OR MA9LY UPON A NATURAL ECONOMY1 CONSUMPTION DET]M9ES ! EXT5T & *>ACT] ( ! 9DIVIDUAL LABOR PROCESS1 AS WELL AS ?AT ( REPRODUCTION 9 G5]AL1 AS AN 5D 9 ITSELF3 ?IS APPLIES TO ! AGR>IAN & COMMUNI/ VILLAGE COMMUNITIES ( ,9DIA1 TO ! ,ROMAN VILLA ) ITS ECONOMY ( SLAVE LABOR1 & TO ! M$IEVAL FEUDAL F>M BAS$ ON CORVEE4 ,BUT ! PICTURE IS DIFF]5T 9 A CAPITALI/ ECONOMIC SY/EM4 ,CAPITALI/ PRODUCTION IS NOT PRODUCTION = ! PURPOSE ( CONSUMPTION1 IT IS PRODUCTION = ! PURPOSE ( CREAT+ VALUE4 ,! :OLE PROCESS ( PRODUCTION AS WELL AS ( REPRODUCTION IS RUL$ BY VALUE RELATION%IPS4 ,CAPITALI/ PRODUCTION IS NOT ! PRODUCTION ( CONSUM] GOODS1 NOR IS IT M]ELY ! PRODUCTION ( COMMODITIES3 IT IS PREEM95TLY ! PRODUCTION ( SURPLUS VALUE4 ,EXP&+ REPRODUCTION1 FROM A CAPITALI/ PO9T ( VIEW1 IS EXP&+ PRODUCTION ( SURPLUS VALUE1 ?\< IT TAKES PLACE 9 ! =MS ( COMMODITY PRODUCTION & IS ?US 9 ! LA/ 9/ANCE ! PRODUCTION ( CONSUM] GOODS4 ,*ANGES 9 ! PRODUCTIVITY ( LABOR DUR+ ! C\RSE ( REPRODUCTION CAUSE CONT9UAL DISCREPANCIES BETWE5 !SE TWO ASPECTS4 ,IF PRODUCTIVITY 9CREASES1 ! SAME AM\NT ( CAPITAL & SURPLUS VALUE MAY REPRES5T A PROGRESSIVELY L>G] AM\NT ( CONSUM] GOODS4 ,EXP&+ PRODUCTION1 UND]/OOD AS ! CREATION ( A GREAT] AM\NT ( SURPLUS VALUE1 NE$ NOT !RE=E NECESS>ILY IMPLY EXP&+ REPRODUCTION 9 ! CAPITALI/ MEAN+ ( ! T]M4 ,CONV]SELY1 CAPITAL MAY1 )9 LIMITS1 YIELD A GREAT] SURPLUS VALUE 9 CONSEQU5CE ( A HI<] DEGREE ( EXPLOITATION SU* AS IS BR\<T AB\T BY WAGE-CUTT+ & ! LIKE1 )\T ACTUALLY PRODUC+ A GREAT] AM\NT ( GOODS4 ,BUT 9 BO? CASES ! SURPLUS VALUE HAS A TW(OLD ASPECT3 IT IS A QUANTITY ( VALUE AS WELL AS AN AGGREGATE ( MAT]IAL PRODUCTS1 & FROM A CAPITALI/ PO9T ( VIEW1 ITS ELEM5TS 9 BO? 9/ANCES >E ?US ! SAME4 

,AS A RULE1 AN 9CREAS$ PRODUCTION ( SURPLUS VALUE RESULTS FROM AN 9CREASE ( CAPITAL BR\<T AB\T BY ADDITION ( P>T ( ! APPROPRIAT$ SURPLUS VALUE TO ! ORIG9AL CAPITAL1 NO MATT] :E!R ?IS CAPITALI/ SURPLUS VALUE IS US$ = ! EXPANSION ( AN OLD 5T]PRISE OR = F\ND+ A NEW ONE1 AN 9DEP5D5T (F%OOT4 ,CAPITALI/ EXP&+ REPRODUCTION ?US ACQUIRES ! SPECIFIC *>ACT]I/ICS ( AN 9CREASE 9 CAPITAL BY MEANS ( A PROGRESSIVE CAPITALIZATION ( SURPLUS VALUE1 OR1 AS ,M>X HAS PUT IT1 BY ! ACCUMULATION ( CAPITAL4 

,! G5]AL =MULA = 5L>G$ REPRODUCTION UND] ! RULE ( CAPITAL ?US RUNS AS FOLL[S3 7C "4 V "4 S_/X "4 S'4 ,H]E S_/X /&S = ! CAPITALIZ$ P>T ( ! SURPLUS VALUE APPROPRIAT$ 9 AN E>LI] P]IOD ( PRODUCTION2 S' /&S = ! NEW SURPLUS VALUE CREAT$ BY ! 9CREAS$ CAPITAL4 ,P>T ( ?IS NEW SURPLUS VALUE IS CAPITALIZ$ AGA91 & EXP&+ REPRODUCTION IS ?US1 FROM ! CAPITALI/ PO9T ( VIEW1 A CON/ANTLY FL[+ PROCESS ( ALT]NATE APPROPRIATION & CAPITALIZATION ( SURPLUS VALUE4 

,SO F>1 H[EV]1 WE HAVE ONLY >RIV$ AT A G5]AL & AB/RACT =MULA = REPRODUCTION4 ,LET US N[ CONSID] MORE CLOSELY ! CONCRETE CONDITIONS :I* >E NECESS>Y TO APPLY ?IS =MULA4 

,! SURPLUS VALUE :I* HAS BE5 APPROPRIAT$1 AFT] IT HAS SUCCESSFULLY CA/ (F ITS COMMODITY-=M 9 ! M>KET1 APPE>S AS A GIV5 AM\NT ( MONEY4 ,?IS MONEY-=M IS ! =M ( ITS ABSOLUTE VALUE1 ! BEG9N+ ( ITS C>E] AS CAPITAL4 ,BUT AS IT IS IMPOSSIBLE TO CREATE SURPLUS VALUE ) MONEY1 IT CANNOT1 9 ?IS =M1 ADVANCE BEYOND ! ?RE%OLD ( ITS C>E]4 ,CAPITAL MU/ ASSUME COMMODITY-=M1 SO ?AT ! P>TICUL> PORTION ( IT :I* IS E>M>K$ = ACCUMULATION CAN BE CAPITALIZ$4 ,= ONLY 9 ?IS =M CAN IT BECOME PRODUCTIVE CAPITAL2 ?AT IS1 CAPITAL BEGETT+ NEW SURPLUS VALUE4 ,!RE=E1 LIKE ! ORIG9AL CAPITAL1 IT MU/ AGA9 BE DIVID$ 9TO TWO P>TS2 A CON/ANT P>T1 COMPRIS+ ! 9ANIMATE MEANS ( PRODUCTION1 & A V>IABLE P>T1 ! WAGES4 ,ONLY !N WILL \R =MULA C "4 V "4 S APPLY TO IT 9 ! SAME WAY AS IT APPLI$ TO ! OLD CAPITAL4 

,BUT ! GOOD 9T5T ( ! CAPITALI/ TO ACCUMULATE1 HIS ?RIFT & AB/95CE :I* MAKE HIM USE ! GREAT] P>T ( HIS SURPLUS VALUE = PRODUCTION 9/EAD ( SQU&]+ IT ON P]SONAL LUXURIES1 IS NOT SUFFICI5T = ?IS PURPOSE4 ,ON ! CONTR>Y1 IT IS ESS5TIAL ?AT HE %\LD F9D ON ! COMMODITY M>KET ! CONCRETE =MS :I* HE 9T5DS TO GIVE HIS NEW SURPLUS VALUE4 ,9 ! FIR/ PLACE1 HE MU/ SECURE ! MAT]IAL MEANS ( PRODUCTION SU* AS RAW MAT]IALS1 MA*9ES ETC REQUIR$ = ! BRAN* ( PRODUCTION HE HAS *OS5 & PLANN$1 SO ?AT ! P>TICUL> P>T ( ! SURPLUS VALUE :I* CORRESPOND TO HIS CON/ANT CAPITAL MAY ASSUME A PRODUCTIVE =M4 ,SECONDLY1 ! O!R1 V>IABLE P>T ( HIS SURPLUS VALUE MU/ ALSO BE CONV]TIBLE1 & TWO ESS5TIALS >E NECESS>Y = ?IS CONV]SION3 ( FIR/ IMPORTANCE1 ! LABOR M>KET MU/ (F] A SUFFICI5T QUANTITY ( ADDITIONAL LABOR1 & SECONDLY1 AS ! WORK]S CANNOT LIVE ON MONEY ALONE1 ! COMMODITY M>KET1 TOO1 MU/ (F] AN ADDITIONAL AM\NT ( PROVISIONS1 :I* ! WORK]S NEWLY TO BE EMPLOY$ MAY EX*ANGE AGA9/ ! V>IABLE P>T ( ! SURPLUS VALUE !Y WILL GET FROM ! CAPITALI/4 

,ALL !SE PR]EQUISITES F\ND1 ! CAPITALI/ CAN SET HIS CAPITALIZ$ SURPLUS VALUE TO WORK & MAKE IT1 AS OP]AT+ CAPITAL1 BEGET NEW SURPLUS VALUE4 ,BUT /ILL HIS TASK IS NOT COMPLETELY DONE4 ,BO? ! NEW CAPITAL & ! SURPLUS VALUE PRODUC$ /ILL EXI/ = ! TIME BE+ 9 ! %APE ( AN ADDITIONAL QUANTITY ( SOME COMMODITY OR O!R4 ,9 ?IS =M ! NEW CAPITAL IS BUT ADVANC$1 & ! NEW SURPLUS VALUE CREAT$ BY IT IS /ILL 9 A =M 9 :I* IT IS ( NO USE TO ! CAPITALI/4 ,! NEW CAPITAL AS WELL AS ! SURPLUS VALUE :I* IT HAS CREAT$ MU/ CA/ (F !IR COMMODITY-=M1 RE-ASSUME ! =M ( PURE VALUE1 & ?US REV]T TO ! CAPITALI/ AS MONEY4 ,UNLESS ?IS PROCESS IS SUCCESSFULLY CONCLUD$1 ! NEW CAPITAL & SURPLUS VALUE WILL BE :OLLY OR P>TLY LO/1 ! CAPITALIZATION ( SURPLUS VALUE WILL HAVE MISC>RI$1 & !RE WILL HAVE BE5 NO ACCUMULATION4 ,IT IS ABSOLUTELY ESS5TIAL TO ! ACCUMULATION ( CAPITAL ?AT A SUFFICI5T QUANTITY ( COMMODITIES CREAT$ BY ! NEW CAPITAL %\LD W9 A PLACE = ITSELF ON ! M>KET & BE REALIZ$4 

,?US WE SEE ?AT EXP&+ REPRODUCTION AS ACCUMULATION ( CAPITAL 9 A CAPITALI/ SY/EM IS B\ND UP ) A :OLE S]IES ( SPECIAL CONDITIONS4 ,LET US LOOK AT !SE MORE CLOSELY4 ,! FIR/ CONDITION IS ?AT PRODUCTION %\LD CREATE SURPLUS VALUE1 = SURPLUS VALUE IS ! ELEM5T>Y =M 9 :I* ALONE 9CREAS$ PRODUCTION IS POSSIBLE UND] CAPITALI/ CONDITIONS ,! 5TIRE PROCESS ( PRODUCTION MU/ ABIDE BY ?IS CONDITION :5 DET]M9+ ! RELATIONS BETWE5 CAPITALI/ & WORK] 9 ! PRODUCTION ( COMMODITIES4 ,ONCE ?IS FIR/ CONDITION IS GIV51 ! SECOND IS ?AT SURPLUS VALUE MU/ BE REALIZ$1 CONV]T$ 9TO ! =M ( MONEY1 SO ?AT IT CAN BE APPROPRIAT$ = ! PURPOSES ( EXP&+ REPRODUCTION4 ,?IS SECOND CONDITION ?US LEADS US TO ! COMMODITY M>KET4 ,H]E1 ! HAZ>DS ( EX*ANGE DECIDE ! FUR!R FATE ( ! SURPLUS VALUE1 & ?US ! FUTURE ( REPRODUCTION4 ,! ?IRD CONDITION IS AS FOLL[S3 PROVID$ ?AT P>T ( ! REALIZ$ SURPLUS VALUE HAS BE5 ADD$ TO CAPITAL = ! PURPOSE ( ACCUMULATION1 ?IS NEW CAPITAL MU/ FIR/ ASSUME ITS PRODUCTIVE =M ( LABOR & 9ANIMATE MEANS ( PRODUCTION4 ,MOREOV]1 ?AT P>T ( IT :I* HAD BE5 EX*ANG$ = LABOR MU/ BE CONV]T$ 9TO PROVISIONS = ! WORK]S4 ,?US WE >E L$ AGA9 TO ! M>KETS ( LABOR & COMMODITIES4 ,IF ALL !SE REQUIREM5TS HAVE BE5 MET & 5L>G$ REPRODUCTION ( COMMODITIES HAS TAK5 PLACE1 A F\R? CONDITION MU/ BE ADD$3 ! ADDITIONAL QUANTITY ( COMMODITIES REPRES5T+ ! NEW CAPITAL PLUS SURPLUS VALUE WILL HAVE TO BE REALIZ$1 ?AT IS1 RECONV]T$ 9TO MONEY4 ,ONLY IF ?IS CONV]SION HAS BE5 SUCCESSFUL1 CAN IT BE SAID ?AT EXP&+ CAPITALI/ REPRODUCTION HAS ACTUALLY TAK5 PLACE4 ,?IS LA/ CONDITION LEADS US BACK TO ! COMMODITY M>KET4 

,?US CAPITALI/ PRODUCTION & REPRODUCTION IMPLY A CON/ANT %IFT+ BETWE5 ! PLACE ( PRODUCTION & ! COMMODITY M>KET1 A %UTTLE MOVEM5T FROM ! PRIVATE (FICE & ! FACTORY :]E UNAU?ORIZ$ P]SONS >E /RICTLY EXCLUD$1 :]E ! SOV]EIGN WILL ( ! 9DIVIDUAL CAPITALI/ IS ! HI<E/ LAW1 TO ! COMMODITY M>KET :]E NOBODY SETS UP ANY LAWS & :]E NEI!R WILL NOR REASON ASS]T !MSELVES4 ,BUT IT IS ?IS V]Y LIC5SE & AN>*Y ( ! COMMODITY M>KET :I* BR+S HOME TO ! 9DIVIDUAL CAPITALI/ ?AT HE IS DEP5D5T UPON SOCIETY1 UPON ! 5TIRETY ( ITS PRODUC+ & CONSUM+ MEMB]S4 ,! 9DIVIDUAL CAPITALI/ MAY NE$ ADDITIONAL MEANS ( PRODUCTION1 ADDITIONAL LABOR & PROVISIONS = !SE WORK]S 9 ORD] TO EXP& REPRODUCTION1 BUT :E!R HE CAN GET :AT HE NE$S DEP5DS UPON FACTORS & EV5TS BEYOND HIS CONTROL1 MAT]IALIZ+1 AS IT W]E1 BEH9D HIS BACK4 ,9 ORD] TO REALIZE HIS 9CREAS$ AGGREGATE ( PRODUCTS1 ! 9DIVIDUAL CAPITALI/ REQUIRES A L>G] M>KET = HIS GOODS1 BUT HE HAS NO CONTROL :ATEV] OV] ! ACTUAL 9CREASE ( DEM& 9 G5]AL1 OR ( ! P>TICUL> DEM& = HIS SPECIAL K9D ( GOOD4 

,! CONDITIONS WE HAVE 5UM]AT$ H]E1 :I* ALL GIVE EXPRESSION TO ! 9H]5T CONTRADICTION BETWE5 CONSUMPTION & PRIVATE PRODUCTION & !IR SOCIAL 9T]CONNECTION1 >E NO?+ NEW1 & IT IS NOT ONLY AT ! /AGE ( REPRODUCTION ?AT !Y BECOME APP>5T4 ,!SE CONDITIONS EXPRESS ! G5]AL CONTRADICTION 9H]5T 9 CAPITALI/ PRODUCTION4 ,!Y 9VOLVE1 H[EV]1 P>TICUL> DIFFICULTIES AS REG>DS ! PROCESS ( REPRODUCTION = ! FOLL[+ REASONS4 ,) REG>D TO REPRODUCTION1 ESPECIALLY EXP&+ REPRODUCTION1 ! CAPITALI/ ME?OD ( PRODUCTION NOT ONLY REVEALS ITS G5]AL FUNDAM5TAL *>ACT] BUT1 :AT IS MORE1 IT %[S1 9 ! V>I\S P]IODS ( PRODUCTION1 A DEF9ITE RHY?M )9 A CONT9U\S PROGRESSION - ! *>ACT]I/IC 9T]PLAY ( 9DIVIDUAL WILLS4 ,FROM ?IS PO9T ( VIEW1 WE MU/ 9QUIRE 9 A G5]AL WAY H[ IT IS POSSIBLE = EV]Y 9DIVIDUAL CAPITALI/ TO F9D ON ! M>KET ! MEANS ( PRODUCTION & ! LABOR HE REQUIRES = ! PURPOSE ( REALIZ+ ! COMMODITIES HE HAS PRODUC$1 AL?\< !RE EXI/S NO SOCIAL CONTROL :ATEV]1 NO PLAN TO H>MONIZE PRODUCTION & DEM&4 ,?IS QUE/ION MAY BE ANSW]$ BY SAY+ ?AT ! CAPITALI/'S GRE$ = SURPLUS VALUE1 5HANC$ BY COMPETITION1 & ! AUTOMATIC EFFECTS ( CAPITALI/ EXPLOITATION1 LEAD TO ! PRODUCTION ( EV]Y K9D ( COMMODITY1 9CLUD+ MEANS ( PRODUCTION1 & ALSO ?AT A GR[+ CLASS ( PROLET>IANIZ$ WORK]S BECOMES G5]ALLY AVAILABLE = ! PURPOSES ( CAPITAL4 ,ON ! O!R H&1 ! LACK ( A PLAN 9 ?IS RESPECT %[S ITSELF 9 ! FACT ?AT ! BALANCE BETWE5 DEM& & SUPPLY 9 ALL SPH]ES CAN BE A*IEV$ ONLY BY CONT9U\S DEVIATIONS1 BY H\RLY FLUCTUATIONS ( PRICES1 & BY P]IODICAL CRISES & *ANGES ( ! M>KET SITUATION4 

,FROM ! PO9T ( VIEW ( REPRODUCTION ! QUE/ION IS A DIFF]5T ONE4 ,H[ IS IT POSSIBLE ?AT ! UNPLANN$ SUPPLY 9 ! M>KET = LABOR & MEANS ( PRODUCTION1 & ! UNPLANN$ & 9CALCULABLE *ANGES 9 DEM& NEV]!LESS PROVIDE ADEQUATE QUANTITIES & QUALITIES ( MEANS ( PRODUCTION1 LABOR & OPPORTUNITIES = SELL+ :I* ! 9DIVIDUAL CAPITALI/ NE$S 9 ORD] TO MAKE A SALE8 ,H[ CAN IT BE ASSUR$ ?AT EV]Y ONE ( !SE FACTORS 9CREASES 9 ! RI<T PROPORTION8 ,LET US PUT ! PROBLEM MORE PRECISELY4 ,ACCORD+ TO \R WELL-KN[N =MULA1 LET ! COMPOSITION ( ! 9DIVIDUAL CAPITALI/'S PRODUCTION BE EXPRESS$ BY ! PROPORTION #dC "4 #aV "4 #aS4 ,HIS CON/ANT CAPITAL IS CONSEQU5TLY F\R TIMES AS MU* AS HIS V>IABLE CAPITAL1 & ! RATE ( EXPLOITATION IS #a P] C5T4 ,! AGGREGATE ( COMMODITIES IS ?US REPRES5T$ BY A VALUE ( #f4 ,LET US N[ ASSUME ?AT ! CAPITALI/ IS 9 A POSITION TO CAPITALIZE & TO ADD TO ! OLD CAPITAL ( ?IS GIV5 COMPOSITION HALF ( HIS SURPLUS VALUE4 ,9 ?IS CASE1 ! =MULA #d#dC "4 #a#aV "4 #a#aS "7 #ff W\LD APPLY TO ! NEXT P]IOD ( PRODUCTION4 

,LET US ASSUME N[ ?AT ! CAPITALI/ CAN CONT9UE ! ANNUAL CAPITALIZATION ( HALF HIS SURPLUS VALUE = A NUMB] ( YE>S4 ,= ?IS PURPOSE IT IS NOT SUFFICI5T ?AT MEANS ( PRODUCTION1 LABOR & M>KETS 9 G5]AL %\LD BE =?COM+1 BUT HE MU/ F9D !SE FACTORS 9 A PROPORTION ?AT IS /RICTLY 9 KEEP+ ) HIS PROGRESS 9 ACCUMULATION4 

,FOOTNOTES 

7#a7 0,IF PRODUCTION BE CAPITALI/IC 9 =M1 SO1 TOO1 WILL BE REPRODUCTION40 7,CAPITAL1 ,VOL4#a1 P4#e#g#h7 

7#b7 ,SURPLUS VALUE 9 \R EXPOSITION IS ID5TICAL ) PR(IT4 ,?IS IS TRUE = PRODUCTION AS A :OLE1 :I* ALONE IS ( ACC\NT 9 \R FUR!R OBS]VATIONS4 ,= ! TIME BE+1 WE %ALL NOT DEAL ) ! FUR!R DIVISION ( SURPLUS VALUE 9TO ITS COMPON5T P>TS3 PR(IT ( 5T]PRISE1 9T]E/1 & R5T1 AS ?IS SUBDIVISION IS IMMAT]IAL TO ! PROBLEM ( REPRODUCTION4 

,FROM 3 ,M>XI/S4ORG4 

,*RONOLOGY 3 
,M>* #f1 #bba 3 ,SECTION #a1 ,*APT] #a -- ,ADD$4 

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