Boffy's Blog: Capital II, Chapter 15

3) The Working Period Smaller than the Circulation Period

Marx assumes a turnover time of 9 weeks. £100 of capital is laid out each week. The working period is 3 weeks, and circulation period 6 weeks. That means that now, 3 capitals rather than 2 are required, to ensure continuous production.

This is similar to the previous situation where there were two equal capitals, which did not overlap.

Marx sets this out in the following tables.

CAPITAL I
Periods of Turnover	Working Periods	Periods of Circulation
I. 1^st - 9th week	1^st - 3rd week	4^th - 9th week
II. 10^th - 18th "	10^th - 12th "	13^th - 18th "
III. 19^Th - 27th "	19^th - 21st "	22^nd - 27th "
IV. 28^th - 36th "	28^th - 30th "	31^st - 36th "
V. 37^th - 45th "	37^th - 39th "	40^th - 45th "
VI. 46^th - [54th] "	46^th - 48th "	49^th - [54th] "

CAPITAL II
Periods of Turnover	Working Periods	Periods of Circulation
I. 1^st - 9th week	4^th - 6th week	7^th - 12th week
II. 10^th - 18th "	13^th - 15th "	16^th - 21st "
III. 19^Th - 27th "	22^nd - 24th "	25^th - 30th "
IV. 28^th - 36th "	31^st - 33rd "	34^th - 39th "
V. 37^th - 45th "	40^th - 42nd "	43^rd - 48th "
VI. 46^th - [54th] "	49^th - 51st "	51^st - [57th] "

CAPITAL III
Periods of Turnover	Working Periods	Periods of Circulation
I. 7^th - 15th week	7^th - 9th week	10^th - 15th week
II. 16^th - 24th "	16^th - 18th "	19^th - 24th "
III. 25^Th - 33rd "	25^th - 27th "	28^th - 33rd "
IV. 34^th - 42nd "	34^th - 36th "	37^th - 42nd "
V. 43^rd - 51st "	43^rd - 45th "	46^th - 51st "

Because they do not overlap, none of these capitals has to make up the rest of a working period for any other, and so none has left over, freed capital, after having done so. Each of them can be traced to the end of the year as self-contained capitals.

Over 51 weeks the total output is 51 x £100 = £5,100. The capital advanced by the three capitals is 3 x £300 = £900. The number of working periods of the aggregate capital is then 5100/900 = 5⅔.

The amount actually turned over by the three capitals is:

Capital 1 5⅔ x £300 = £1,700

Capital 2 5⅓ x £300 = £1,600

Capital 3 5 x £300 = £1,500

Total £900 x 5⅓ = £4,800

Back To Part 11

Forward To Part 13

Boffy's Blog

Thursday 27 March 2014

Capital II, Chapter 15 - Part 12

3) The Working Period Smaller than the Circulation Period

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