Having set
out one way in which these exchanges can occur, I will now try to
summarise Marx's own example, using these models. What this
demonstrates, as does Marx's own examples, is that there is no single
path by which these exchanges unfold. An important point to note is
that the money, capitalists throw in, to cover their own consumption,
provides the monetary demand that enables the realisation of their
surplus value. In so doing, the money they throw in, for that purpose, flows back to them as realised surplus value. Additionally, the
money-capital advanced as variable capital also flows back to them. In the
case of Department 2 capitalists, it flows directly back, as its workers
buy means of consumption. In the case of Department 1 capitalists, it
flows back only indirectly, because its workers buy consumer goods, from Department 2, thereby realising the equivalent value of constant capital (means of production), consumed by Department 2, in its
production. That value thereby flows back, to Department 1, for the
purchase of those means of production.
Looking at
this flow we have: £1,000 of Department 1 wages buy Department 2
consumer goods, M- C. These goods contain surplus value, and so
appears as C' - M', from the perspective of Department 2. M' is equal to M+m. M is used, by Department 2 capitalists, to buy
replacement constant capital, from Department 1, M – C, for the means of production, consumed in the production of the commodities, sold to Department 1 workers, and replacement labour-power for that similarly used. But from M', (M +
m) Department 2 now has m left over. That is spent within Department 2, by
capitalists, for consumer goods.
Marx begins
his example by setting out the exchange that takes place between the
two departments. So, in Department 1, it produces means of
production that it exchanges with Dept. 2. The value of these means
of production equals 2000. It is divided into 1000 paid to workers
as wages, and 1000 of surplus value appropriated by capitalists. If
there were no money involved, we could picture Department 1 handing
over these means of production, and Department 2 handing over
consumer goods, of an equal value, which are then distributed 1000 to
Department 1 workers and 1000 to Department 1 capitalists.
In reality,
the means of production are sold to Department 2 capitalists. 2000, in
money, is handed over, and 1000 of this is paid as wages to Department
1 workers, Department 1 capitalists keeping the other 1000 as
profits. Department 1 workers and capitalists then spend this 2000
buying Department 2 consumer goods.
Of the total
value of consumer goods, produced by Department 2, which amounts to
3000, 2000 was itself made up of the constant capital used in their
production. In selling this 2000 of consumer goods, to Department 1,
therefore, it has recovered and replaced all of the constant capital
it has consumed, and, thereby, has means by which to continue
production, on the same scale, in that respect. To do so, of course,
it also has to recover the value of the labour-power, used up in that
production, alongside the surplus value.
As described
earlier, the surplus value, produced by workers in Department 1, does
not flow back directly to Department 1 capitalists. They advance
1000 in wages, to their workers. But, the workers do not buy Department 1
goods. The money goes to buy Department 2 consumer goods. However, the
value, of these consumer goods, is partly made up of the constant
capital, used in their production. Part of the value, of that constant
capital, is itself attributable to the variable capital, used in its
production. That variable capital (1000) is the same amount as the wages
now spent to buy the equivalent portion of consumer goods. In other
words, Department 2 used 2000 of constant capital. 1000 of that
value is attributable to the (Department I) variable capital, advanced for its
production. In selling 1000 of consumer goods, therefore, to Department 1 workers, Department
2 recovers that portion it needs to lay out for constant capital, to replace that part of the value of that constant capital, which is equal to its value attributable to Department 1 variable capital. When it spends that money, on constant capital, the 1000 flows back to
Department 1, thereby replacing the 1000 it had laid out in variable
capital. The same process applies to the surplus value produced by
Department 1 workers and which is used by Department 1 capitalists to buy consumer goods from Department 2.
Department 1
capitalists and workers have between them bought 2000 of consumer
goods. Department 2 capitalists received this 2000 and used it to
replace the constant capital used in their total production. By the
same token, then, the Department 1 capitalists have received 2000 from
Department 2 capitalists in exchange for the means of production,
they have bought. 1000 of this replaces the variable capital laid
out for labour-power, and the other 1000 goes to replace the 1000
they had spent to cover their own consumption needs – equal to
their surplus value.
Of the
remainder of Department 2's output, (1000) it is consumed by the workers and
capitalists in Department 2 itself. Department 2 workers are
advanced 500 in wages, which is equal to the value of the variable
capital. They spend this 500 on Department 2 commodities.
Department 2 capitalists have thrown 500 into circulation to cover
their expenditure on consumer goods, and this returns to them in the
surplus value they realise on the sale of their own commodities.
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