The Forms of Value — Commodity, Money and Capital

Makoto Itoh
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Makoto Itoh: University of Tokyo

Chapter 4 in The Basic Theory of Capitalism, 1988, pp 73-108 from Palgrave Macmillan

Abstract: Abstract Although Marx titles the first volume of Capital ‘The Process of Production of Capital’, he does not immediately investigate the substantital content of a capitalist mode of production. In the first two Parts of the volume, beginning from the analysis of the commodity as the elementary form, he elucidates the systematic relations between commodities, money and capital as the development of the forms of value. Both historically and spatially these forms appear as the basic components of commodity economy in general in much wider periods and the places than capitalist production. On the basis of the development of commodity economy, the free worker ‘in the double sense that as a free individual he can dispose of his labour-power as his own commodity, and that … he is free of all the objects needed for the realisation [Verwirklichung] of his labour-power’ (I, pp. 272–3) must be given for the birth and maintenance of capitalist production in a social scale.

Keywords: Capitalist Economy; Classical School; Capitalist Production; Capitalist Society; Industrial Capital (search for similar items in EconPapers)
Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-19107-9_4

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DOI: 10.1007/978-1-349-19107-9_4

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