For Marx, the ‘value’ being an independent entity, does not possess a fixed form, rather it may assume one form or the other according to the existing equivalence in trade within circulation M-C-M. Money and commodity are exemplified as value forms or means by which a value…
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Either form is a function of value which holds consistent the equivalence among its forms yet value itself varies depending on its meaning in the state of economy.
Once the value is challenged in the process, regardless of form, its own size or magnitude is also subject to alter. Under Marx’s proposition, this is the stage around which ‘capital’ executes and comes in the scene to yield to a definition based on the shaping of the value, not the shifting of its form. On stating “Value therefore now becomes value in process, money in 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 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.
Marx pertains to the dilemma of treating ‘capital’ in terms of how it should emerge in and out of the 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’ with respect to where circulation occurs. Though this is the case, Marx insists “it must have its origin both in circulation and not in circulation.”
In order 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
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(“Marxist Analys Essay Example | Topics and Well Written Essays - 500 words”, n.d.)
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(Marxist Analys Essay Example | Topics and Well Written Essays - 500 Words)
“Marxist Analys Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/macro-microeconomics/1590308-marxist-analys.
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