Capital
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Capital

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Unfinished at the time of Marx's death in 1883 and first published with a preface by Frederick Engels in 1894, the third volume of Das Kapital strove to combine the theories and concepts of the two previous volumes in order to prove conclusively that capitalism is inherently unworkable as a permanent system for society. Here, Marx asserts controversially that - regardless of the efforts of individual capitalists, public authorities or even generous philanthropists - any market economy is inevitably doomed to endure a series of worsening, explosive crises leading finally to complete collapse. But healso offers an inspirational and compelling prediction: that the end of capitalism will culminate, ultimately, in the birth of a far greater form of society.
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Product details

  • Paperback | 1088 pages
  • 129 x 198 x 46mm | 735g
  • PENGUIN CLASSICS
  • London, United Kingdom
  • English
  • 3rd edition
  • 0140445706
  • 9780140445701
  • 106,210

Table of contents

Introduction by Ernest Mandel
Preface (Frederick Engels)
BOOK III: THE PROCESS OF CAPITALIST PRODUCTION AS A WHOLE


PART ONE: THE TRANSFORMATION OF SURPLUS-VALUE INTO PROFIT, AND OF THE RATE OF SURPLUS-VALUE INTO THE RATE OF PROFIT


Chapter 1: Cost Price and Profit


Chapter 2: The Rate of Profit


Chapter 3: The Relationship between Rate of Profit and Rate of Surplus-Value


Chapter 4: The Effect of the Turnover on the Rate of Profit


Chapter 5: Economy in the Use of Constant Capital
1. General Considerations
2. Saving on the Conditions of Work at the Workers' Expense
3. Economy in the Generation and Transmission of Power, and on Buildings
4. Utilization of the Refuse of Production
5. Economy through Inventions

Chapter 6: The Effect of Changes in Price
1. Fluctuations in the Price of Raw Material; Their Direct Effects on the Rate of Profit
2. Revaluation and Devaluation of Capital; Release and Tying-Up of Capital
3. General Illustration: The Cotton Crisis 1861-5

Chapter 7: Supplementary Remarks


PART TWO: THE TRANSFORMATION OF PROFIT INTO AVERAGE PROFIT


Chapter 8: Different Compositions of Capital in Different Branches of Production, and the Resulting Variation in Rates of Profit


Chapter 9: Formation of a General Rate of Profit (Average Rate of Profit), and Transformation of Commodity Values into Prices of Production


Chapter 10: The Equalization of the General Rate of Profit through Competition. Market Prices and Market Values. Surplus Profit


Chapter 11: The Effects of General Fluctuations in Wages on the Prices of Production


Chapter 12: Supplementary Remarks
1. The Causes of a Change in the Price of Production
2. The Production Price of Commodities of Average Composition
3. The Capitalist's Grounds for Compensation

PART THREE: THE LAW OF THE TENDENTIAL FALL IN THE RATE OF PROFIT


Chapter 13: The Law Itself


Chapter 14: Counteracting Factors
1. More Intense Exploitation of Labour
2. Reduction of Wages below their Value
3. Cheapening of the Elements of Constant Capital
4. The Relative Surplus Population
5. Foreign Trade
6. The Increase in Share Capital

Chapter 15: Development of the Law's Internal Contradictions
1. General Considerations
2. The Conflict between the Extension of Production and Valorization
3. Surplus Capital alongside Surplus Population
4. Supplementary Remarks


PART FOUR: THE TRANSFORMATION OF COMMODITY CAPITAL AND MONEY CAPITAL INTO COMMERCIAL CAPITAL AND MONEY-DEALING CAPITAL (MERCHANT'S CAPITAL)


Chapter 16: Commercial Capital


Chapter 17: Commercial Profit


Chapter 18: The Turnover of Commercial Capital. Prices


Chapter 19. Money-Dealing Capital


Chapter 20: Historical Material on Merchant's Capital


PART FIVE: THE DIVISION OF PROFIT INTO INTEREST AND PROFIT OF ENTERPRISE


Chapter 21: Interest-Bearing Capital


Chapter 22: Division of Profit. Rate of Interest. "Natural" Rate of Interest


Chapter 23: Interest and Profit of Enterprise


Chapter 24: Interest-Bearing Capital as the Superficial Form of the Capital Relation


Chapter 25: Credit and Fictitious Capital


Chapter 26: Accumulation of Money Capital, and its Influence on the Rate of Interest


Chapter 27: The Role of Credit in Capitalist Production


Chapter 28: Means of Circulation and CApital. The Views of Tooke and Fullarton


Chapter 29: Banking Capital's Component Parts


Chapter 30: Money Capital and Real Capital: I


Chapter 31: Money Capital and Real Capital: II (Continuation)
1. Transformation of Money into Loan Capital
2. Transformation of Capital or Revenue into Money that is Transformed into Loan Capital

Chapter 32: Money Capital and Real Capital: III (Conclusion)


Chapter 33: The Means of Circulation under the Credit System


Chapter 34: The Currency Principle and the English Bank Legislation of 1844


Chapter 35: Precious Metal and Rate of Exchange
1. The Movement of the Gold Reserve
2. The Exchange Rate

Chapter 36: Pre-Capitalist Relations


PART SIX: THE TRANSFORMATION OF SURPLUS PROFIT INTO GROUND-RENT


Chapter 37: Introduction


Chapter 38: Differential Rent in General


Chapter 39: The First Form of Differential Rent (Differential Rent I)


Chapter 40: The Second Form of Differential Rent (Differential Rent II)


Chapter 41: Differential Rent II - First Case: Price of Production Constant


Chapter 42: Differential Rent II - Second Case: Price of Production Falling
1. With the Productivity of the Extra Capital Investment Remaining Constant
2. A Falling Rate of Productivity for the Extra Capital
3. A Rising Rate of Productivity for the Extra Capital


Chapter 43: Differential Rent II - Third Case: Rising Price of Production. Results


Chapter 44: Differential Rent Even on the Poorest Land Cultivated


Chapter 45: Absolute Ground-Rent


Chapter 46: Rent of Buildings. Rent of Mines. Price of Land


Chapter 47: The Genesis of Capitalist Ground-Rent
1. Introduction
2. Labour Rent
3. Rent in Kind
4. Money Rent
5. Share-Cropping and Small-Scale Peasant Ownership

PART SEVEN: THE REVENUES AND THEIR SOURCES


Chapter 48: The Trinity Formula


Chapter 49: On the Analysis of the Production Process


Chapter 50: The Illusion Created by Competition


Chapter 51: Relations of Distribution and Relations of Production


Chapter 52: Classes


Supplement and Addendum to Volume 3 of Capital (Frederick Engels)
1. Law of Value and Rate of Profit
2. The Stock Exchange


Quotations in Languages Other than English and German
Index of Authorities Quoted
General Index
Note on Previous Editions of the Works of Marx and Engels
Chronology of Works by Marx and Engels
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About David Bach

Karl Marx was born in 1818 in Trier, Germany and studied in Bonn and Berlin. Influenced by Hegel, he later reacted against idealist philosophy and began to develop his own theory of historical materialism. He related the state of society to its economic foundations and mode of production, and recommended armed revolution on the part of the proletariat. Together with Engels, who he met in Paris, he wrote the Manifesto of the Communist Party. He lived in England as a refugee until his death in 1888, after participating in an unsuccessful revolution in Germany.

Ernst Mandel was a member of the Belgian TUV from 1954 to 1963 and was chosen for the annual Alfred Marshall Lectures by Cambridge University in 1978. He died in 1995 and the Guardian described him as 'one of the most creative and independent-minded revolutionary Marxist thinkers of the post-war world.'


Translated by David Fernbach with an introduction by Ernest Mandel
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