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9 - The Precipitation of Fixed Capital in Capital, Vol. II, Ch. 21, Sections 1–2; Ch. 20, Section 11

from Part II - The Capitalist Mode of Production

Published online by Cambridge University Press:  05 May 2013

Kenneth Smith
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Summary

At this stage, and taking into account the highly abstract nature of Marx's discussion of reproduction and accumulation in Capital, Vol. II, it may seem that we do not know very much more about the material conditions which are said to compel capitalist accumulation than we already knew following Marx's discussion of this in Vol. I. However, I want to suggest that this is not the case and that, in point of fact, we actually do know quite a bit more than we did before, of which the following may be said to be the most important points:

  1. (i) There must be an equilibrium between the supply and demand of DI and DII for means of production and means of consumption if simple reproduction is to take place.

  2. (ii) There must nevertheless be a disequilibrium of some kind within the system of production if reproduction on an extended scale is to take place.

  3. (iii) Simple reproduction is always a part (and Marx's says the most important part at that) of all annual reproduction on an extended scale.

  4. (iv) That therefore, the disequilibrium necessary for reproduction on an extended scale to take place must always be brought back into equilibrium before simple reproduction on an extended scale can take place.

  5. […]

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A Guide to Marx's 'Capital' Vols I-III , pp. 69 - 80
Publisher: Anthem Press
Print publication year: 2012

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