Appendix: Draft Plan of the Chapter on Capital

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The draft plan of Part Two of A Contribution to the Critique of Political Economy, which was to contain Chapter Three (“Chapter on Capital”), is in a separate small notebook (without number or letter designation) and has no general title. (In this edition, the pages of the notebook are given in editorial square brackets and the author’s brackets are replaced by oblique lines.) In the draft, the problems treated in notebooks II-VII of the 1857-1858 economic manuscript are divided into three sections: I. The Process of Production of Capital, II. Circulation Process of Capital, III. Capital and Profit. The draft plan ends with the section “Varia”, which includes mainly issues of the history of political economy. Many points of the plan are separated from one another by big spaces; on pp. 13 and 15 there is no text at all (the former has drawings of geometrical figures and the latter logarithmic formulae that have nothing to do with this work). In the course of his further economic studies, Marx used the structure of Chapter Three fixed in this plan as a basis for generally dividing his future work into three theoretical parts, though later the contents of each of them, especially the third, were considerably extended.

In references to the 1857-1858 manuscript Marx uses Roman numerals to denote notebooks and Arabic ones to denote the relevant pages.

[1 ]

I
THE PROCESS OF PRODUCTION OF CAPITAL

1) Transformation of money into capital

a) Transition

Nothing is expressed if capital is designated as a mere sum of values (II, 12). HOARDING of money is not capitalisation (ibid.). II (13, 14, 15). VI, 23, 24. VII, 28 (bottom. Capital and money).

Circulation and exchange value originating from circulation— the presupposition of capital (II, 16) (17) (II, 18).

II, 19, 20 (capital as exchange value confronts labour as use value).

II (21) (II, 22).

Sismondi VII, 19 (bottom).

Merchant capital and capital in general Merchant and handicraftsman VII, 52 bottom. 53, 54, 55 (Opdyke).

[2] ß) Exchange between commodity and labour capacity

(II, 22) (II, 23) (II, 25, 26, 27, 28). VI, 13. II, 29. Ill, 8. Ill, 14. VI, 37, 38.

The repetition of sale on the part of the worker (III, 8).

Wages not productive (III, 8).

The circulation of the worker as C—M—C (III, 9).

Condition of this exchange is the non-property of the worker (III, 9). V, 3, 4, 5, 6-7.

Abstract labour confronts capital (III, 9) (10, 26).

Exchange value of labour (II, 14, 15) (III, 22, 27).

Consumption of the use-value here falls within the economic process (III, 17). IV, 23, 24 (capital creating wage labour). IV, 48, 49, 50.

Historical condition of the relationship of wage labour and capital V, 8. VII, 12, 13.

Labour capacity (VI, 7).

Average wages (VII, 39. In our examination it is necessary to assume the minimum).

Carey’s doctrine of profit VI, 7, 8.

Rossi (VI, 11, 12). Material component parts of capital Do wages belong to the essence of capital? VI, 38.

Conditions of exchange. Worker a virtual pauper (VI, 15) (16).

Torrens. Capital, not labour, determines the value of the commodity (VII, 38, 39) (confusion among the Ricardians. Distribution of surplus value among the capitalists).

[3] 7) The labour process

(III, 10, 11, 12, 13).

PRODUCTIVE CONSUMPTION (VII, 47, top. Newman).

[4] 8) The valorisation process

III, 17, 18, 19, 20, 38, 39, 40, 41, 42, 43.

IV, 2 (IV, 7).

General concept of surplus value (III, 21) (22) (23) (24) (25) (26) (27) (28, 29) (30) (IV, 1, 2, 3, 4, 5, 6, 7. IV, 13. VI, 12). Increase in productive power, quantity and quality (IV, 4) VII, 20.

With a given productive power and absolute labour time, the number of simultaneous working days must be increased (IV, 7, 8) (IV, 14).

Simultaneous working days ibid.

Population IV, 14, 15.

Increase in productive power identical with growth of the constant part of capital as compared with its variable part (IV, 9).

How capital must grow in order to apply the same number of workers with an increasing productive force (IV, 9-13).

Disposable time (IV, 14).

Combination of labour (IV, 50).

McCulloch (VII, 50).

[5] 2) Absolute surplus value

(III, 23, 32, 33).

Absolute and necessary labour time V, 24. VI, 16, 17 (VI, 15, 16, 17. Surplus labour. Surplus population).

Surplus labour time (VI, 19. Ramsay, Wade).

Surplus labour and necessary labour (VII, 21) (VII, 44, top).

Senior (VII, 41, 42).

[6] 3) Relative surplus value

III, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38.

IV, 12, 13.

a) Cooperation of masses

V, 22, 23

ß) Division of labour

Slave labour more productive than free labour, if the latter is not combined. Wakefield VI, 18.

[7] -y) Machinery

IV, 13, 14. VI, 43. VII, 1, 2, 13 (bottom). VII, 22, 39, 40, 42, 43 bottom.

Gain of raw material (saving) through the machinery. VII, 39 (The Economist).

Prices of commodities. Proudhon (IV, 26-32).

4) Primitive accumulation

(III, 20, 21. IV, 44, 45, 46, 47, 50, 51, 52, 53).

Surplus product. Surplus capital (IV, 42, 43, 45).

Capital produces wage labour (IV, 43, 44) (45) (47). V, 15.

Primitive accumulation V, 1, 2, 3, 4, 8-15, 16.

Concentration of labour capacities (VI, 10, 11) (VI, 11. Rossi. Association).

Surplus value in various forms and through various means VII, 22, 23, 24.

Connection of relative and absolute surplus value VII, 23, 24.

Multiplication of branches of production VII, 23.

Population (VII, 23).

[8] 5) Wage labour and capital

II, 14 (II, 28, 29) (III, 13) (III, 14) (15, 16) (VII, 40 bottom and 41 top). Ill, 23.

Capital, COLLECTIVE FORCE, CIVILISATION. (VI, 9, 10 Wade) (VI, 11.

Babbage).

Capital=advances VI, 29 bottom.

Reproduction of the worker through the wages VI, 38.

Self-transcending limits of the capitalist production VII, 2, 3.

DISPOSABLE TIME VII, 3, 4. Labour itself transformed into social labour (ibid., 4). Owen (VII, 5, bottom).

Real economy. Saving of labour time. But not antagonistically (VII, 5).

Manifestation of the law of appropriation in the simple commodity circulation. Inversion of this law

(II, 8, 9, 10, 11, 12) (IV, 45) (50).

VII, 44.

[9]

II
CIRCULATION PROCESS OF CAPITAL

Valorisation process of capital simultaneously its devaluation process (IV, 15, 16).

Contradictions (IV, 16, 17) (18). //This belongs in Section II: Competition of capitals.[1]//

Capital is the unity of production and valorisation as process (IV, 18) (19, 20).

Propaganda tendency of capital (IV, 18).

Civilising tendency of capital (IV, 18, 19).

Contradiction between production and valorisation (IV, 22) IV, 24, 25.

Transformation of commodity into money (IV, 40, 41) (VI, 8).

Circulation of capital (V, 16, 17. VI, 14. Chalmers) (VI, 36) VII, 9. To Chalmers: Blake VII, 29. VII, 47.

Production process, circulation process (V, 17, 18, 19, 20, 21, 22).

Dormant capital (VI, 8, 9).

Different time of production VI, 14, 15. VI, 36.

[10] /. St. Mill: time of circulation (VI, 19) (DORMANT CAPITAL).

Turnover of capital VI, 19, 20. VII, 47, bottom.

Costs of circulation (VI, 20) (21) (22) (VI, 23, 24, 25) VI, 37.

Circulating capital[2] VI, 20, 21. Fixed capital ibid. VI, 27. Transition to circulating and fixed capital as two particular kinds VII, 2.

Turnover (VI, 21, 22). The number of turnovers VI, 31-35. VII, 7.

Time of circulation VI, 22, 23, 25.

Commodity-, money-, and industrial capital (VI, 26).

Year as measure of the turnovers of capital (VI, 26, 27).

Fixed capital. Circulating capital (VI, 27, 28, 29). VI, 39, 40, 41, 42-44. VII, 8 (bottom), 10, 11, 13, 14, 15.

Greater and lesser circulation VI, 37, 38, 39.

Three-fold determination of circulation as a whole VI, 39.

Fixed capital. Circulating capital. In both, the social determination of labour is transferred to capital (VII, 1) (VII, 6).

[11] Longer time of circulation=smaller number of acts of reproduction or smaller quantity of capital caught up in production process. Continuity [of production process] becomes necessary with development of fixed capital. Interruption [in this process] thereby becomes loss of the preposited value (VII, 2).

FIXED CAPITAL and DEMAND FOR LABOUR (VII, 28. Barton).

Fixed capital VII, 2, 3. Relationship between fixed and circulating capital in society VII, 3. VII, 4. A higher degree than circulating capital I.e., 4.

Durability of fixed capital VII, 4. VII, 21, 22.

Money, fixed and circulating capital VII, 6.

Fixed and circulating capital in relation to the individual consumption (VII, 6, bottom, and 7).

Average turnover of total capital (in relation to its valorisation). Relationship between turnover of fixed and circulating capital. Continuity. Difference between interruptions in production for circulating capital and fixed capital. Time of reproduction of fixed capital becomes measuring unit of the ECONOMIC CYCLE. Phase of total reproduction (VII, 7).

Different return of circulating and fixed capital (VII, 8).

[12] Fixed capital whose use value enters into circulation (VII, 9).

Production of fixed capital and circulating capital (VII, 9, 10).

Frais d’entretien[3] of fixed capital (VII, 11).

Revenue of fixed capital and circulating capital (VII, 12) (return of fixed and circulating capital I.e.)

Determination of the time of reproduction by the use value of the commodity (VII, 15).

[14]

III
CAPITAL AND PROFIT

Rate of profit and surplus value (IV, 1, 2, 3, 4, 5, 6, 7, 8, 9. VI, 10) (VI, 12, 13) (17, 18) (39) (43).

Capital and profit (VII, 15) (16) (17) (20, 21) (22) (40) (41).

Growth of capital with an increased productive power so as to apply the same mass of labour (IV, 9-13).

Risk. Interest. Production costs VII, 8.

Profit in equal measure on all parts of capital VII, 8.

Wages and profit, forms of production and therefore of distribution, etc. (VII, 19).

Interest and profit VII, 51, 52.

[16]

[IV] VARIA

Definitions of capital:

Capital, “merely an instrument of production” (II, 15) (capital conceived of as a thing ibid.) (capital, not simple relationship, but process. Ibid. II, 16). Capital and product (II, 18).

Productive and unproductive labour (II, 21, 22) (III, 14).

Agriculture, landed property and capital (II, 23).

Market (II, 24, 25).

Grounds for profit (III, 19, 20) III, 22, 23.

Production costs (III, 20).

Not dĂŠpenses, but avances[4] of capitalists (Storch VII, 50. Against the theory of savings ibid.).

Proudhon and interest, etc. (Ill, 20). His extra-economic origins of landed property (V, 3). SURPLUS VALUE (VI, 27) (Price (Richard) and Proudhon VII, 47, 48).

Bastiat on wage system (III, 22). On profit, etc. (VII, 18, 19).

Agriculture (the same, industrially. 15th century VII, 29. Harrison).

Money capital (III, 44).

Ricardo. The origin of surplus value. Wages and profit merely dividends (VI, 1, 2). (Wakefield against Ricardo VI, 8) (Malthus versus wages as proportion VI, 12) (13) VII, 8.

Malthus. Theory of value (VI, 3 sqq.) (VI, 12, 13).

Smith's sacrifice of labour. Senior's sacrifice of abstinence (VI, 17) (18).

Smith's origin of profit (VI, 18). Opposed by Lauderdale VI, 43.

McCulloch's origin of surplus value VI, 18. WAGES, part of worker's own product idem, VI, 19.

Wage labour and SLAVERY. Steuart VII, 25, 26. Idem: MACHINES I.e., 26.

  1. ↑ According to the original plan Marx intended to divide his economic work in six books. The first, "On Capital", as can be seen from Marx's letter to Engels of April 2, 1858, was to be divided into four sections: 1) Capital en general, 2) Competition, or the interaction of many capitals, 3) Credit, 4) Share Capital (see present edition, Vol. 40, p. 298). This remained the general plan in 1861, when Marx resumed his work on the planned second part of A Contribution to the Critique of Political Economy (it was changed only in the course of further studies). Here Marx has in mind the second section of his book "On Capital".
  2. ↑ In his manuscript, to denote these categories Marx uses mostly the French terms "capital circulant" and "capital fixe", but sometimes he also uses the German ones "zirkulierendes Kapital" and "fixiertes Kapital", or the English "circulating capital", "floating capital", and "fixed capital".
  3. ↑ Maintenance costs.— Ed
  4. ↑ Costs, advances.— Ed.
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