Explore "Capital, Volume Two: The Process of Circulation of Capital" by Karl Marx on Textopian. Read with annotations and highlights.
Part 1
It has been shown in Book I how accumulation works in the case of the individual capitalist. By the conversion of the commodity-capital into money the surplus-product, in which the surplus- value is represented, is also turned into money. The capitalist reconverts the so metamorphosed surplus-value into additional natural elements of his productive capital. In the next cycle of production the increased capital furnishes an increased product. But what happens in the case of the individual capital must also show in the annual reproduction as a whole, just as we have seen it happen on analysing simple reproduction, namely, that the successive precipitation – in the case of individual capital – of its used-up fixed component parts in money which is being hoarded, also finds expression in the annual reproduction of society. If a certain individual capital is equal to 400 c + l00 v, and the annual surplus-value is equal to 100, then the commodity-product amounts to 400 c + 100 v + 100 s.