I did not say that vol. II is unimportant. It's just boring, because Marx never got to finish it. Please do not misrepresent what I say, Rakesh.
On Fri, Jul 29, 2011 at 6:25 PM, Lakshmi Rhone <[email protected]> wrote: > Nathan, > Capital, vol 2 is a crucially important volume. Here I respectfully disagree > with Professor Devine. > > 1. it shows the possibility of expanded reproduction without a permanent > underconsumption problem. Naive underconsumptionism is still the dominant > ideology of the left. > 2. the importance of the gold sector in expanded reproduction intimates the > need for a credit sector that can play the same function, and thus throws > light on the necessity of credit > 3. it isolates the difficulties that firms will have in both realizing the > value and finding on the market the quantity of use values required for > their individual expanded reproduction. This shows of course that Marx is as > concerned with value and use value. The reproduction schema can thus be used > to show why the reproduction of capital will be shot through with > disturbances. > 4. in showing the possibility of the reproduction of capital, the Vol II > analysis underwrites the analysis of the capital-labor relation as an > ongoing relation that becomes over time opposite in content to its “free > exchange” form (chs 21-23 Capital volume I). This is one of the most > important dialectical inversions that Marx demonstrates. > 5. the early parts of volume 2 introduce the different circuits of capital > and discuss turnover. Both are rich in implications. See for example Duncan > Foley’s diagram of the reproduction of capital in terms of financing, > production and commercial lags in his Understanding Capital. I think this is > one of the best diagrams of the movement of capital that I have ever seen, > and it is entirely faithful to the Marx of Capital, vol 2. > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > > -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
