Fictitious Capital and Crises

Ferdinando Meacci ()

Chapter 12 in Marxian Economics: A Reappraisal, 1998, pp 189-204 from Palgrave Macmillan

Abstract: Abstract This chapter is concerned with just a section of part V (‘The Division of Profit into Interest and Profit of Enterprise’) of volume III of Capital. 3 This section consists of the chapters 25 to 35. Although these should properly be grouped as a separate part, their unity escaped Engels’ attention and is accordingly missing in the current arrangement of volume III. This ‘ideal’ part (which could possibly be titled ‘Credit and Crises’ or ‘Money Capital and Fictitious Capital’, and will be referred to henceforth as ‘the unidentified part’) is not unrelated to what remains of part V (chapters 21-4 and 36) but should be considered more strictly as a follow-up of part IV, ‘The Transformation of Commodity Capital and Money Capital into Commodity-Dealing Capital and Money-Dealing Capital’ (Merchant’s Capital).4 It should also be noted that the unidentified part is less related to the nature of interest and to the difference between interest and profit (an issue fairly similar to that of rent and of the difference between rent and profit in part VII) than to that section of part IV where money-dealing capital is presented as a subspecies of merchant’s capital.

Keywords: Part Versus; Bank Credit; German Term; Implicit Object; Commercial Capital (search for similar items in EconPapers)
Date: 1998
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DOI: 10.1007/978-1-349-26118-5_12

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