For Marx What Is Capital - Essay Example

In the process, money translates itself to a commodity in value so despite the absence of literal transformation, the metaphor with value works to convert money as one form of value to a commodity as another. Either form is a function of value that holds consistent the equivalence among its forms yet value itself varies depending on its meaning in the state of the economy.

Once the value is challenged in the process, regardless of form, its size or magnitude is also subject to alteration. Under Marx’s proposition, this is the stage around which ‘capital’ executes and comes into the scene to yield a definition based on the shaping of the value, not the shifting of its form. On stating “Value therefore now becomes value in the process, money in the process, and as such, capital”, Marx likely signifies ‘process’ and argues how this is essential for the life of a capital where value is at work and its progress with changing measure determines capital. Without such a process, it would be difficult to interpret capital and its purpose since the event of adding or subtracting from a value is characteristic of incorporating a function that would later meet the objective of generating a projected output or necessity such as income which is itself affected by the processed value.

(a) Explain what “problem” Marx is referring to.
Marx pertains to the dilemma of treating ‘capital’ in terms of how it should emerge in and out of circulation. The conflict, however, is not concerned about the presence of capital on either condition as being within or beyond circulation but Marx uses negation with ‘cannot’ and ‘impossible’ to emphasize the difficulty of designating ‘capital’ concerning where circulation occurs. Though this is the case, Marx insists “it must have its origin both in circulation and not in circulation.”

(b) What is Marx’s solution to the problem?

To settle the butterfly issue with capital, Marx resolves to have the double effect defeat its ground. Due to the fundamental property attached to capital, Marx proposes for capital to be conceived out of allowing circulation to adjust to the intrinsic laws of exchange. It is similar to the approach of conveying that there is no such thing as beginning with a ‘capital’, rather going about the foundation of capital in a circulation that pays recognition to the basis of equivalents in exchange as the point of origin. Through the given instance of capitalist-in-the-making, such a group or individual is not expected to possess capital initially. Instead, in the building of an identity as a capitalist, one works under circumstances of trade in which capital does not initiate any potential but is gradually weaved as long as negotiating equivalents proceeds. Read More