[OPE-L] capital in general and the world market

[Gerald_A_Levy@xxxxxxx]

> I'm not quite sure about the relationship between the world market and

> the capital-in-general,

 

Hanno,

 

 

I raised the issue because of the theme of "totality" that was raised in

this discussion.  Briefly put, if the "totality" is capital, then capital-

in-general might be seen as an abstract representation of that totality.

But, I would argue that this is a mistake of the first order since the

primary subject is not capital, but capitalism.  To grasp capitalism as

a totality, we have to move way beyond -- yet, nonetheless, comprehend --

capital-in-general.  This is expressed rather well, I believe,  in the

beginning of _Capital_, Volume 3, Chapter 6, Section 2 ("Revaluation

and Devaluation of Capital: Release and Tying-Up of Capital"):

 

 

"The phenomena under investigation in this chapter assume for their

full development the credit system and COMPETITION ON THE WORLD

MARKET, the latter being the VERY BASIS AND LIVING ATMOSPHERE

of the capitalist mode of production.  These concrete forms of capitalist

production, however, can be comprehensively depicted only AFTER the

GENERAL NATURE OF CAPITAL is understood; it is therefore OUTSIDE

THE SCOPE OF THIS WORK  -- they belong to a possible continuation."

(Penguin ed., p. 205, emphasis added).

 

 

You asked whether capital in general had a real existence.  If capital-in-

general is real, how can it exist outside of the "very basis and living

atmosphere of the capitalist mode of production"?   This would suggest

that to fully comprehend the credit system and competition on world

markets we must first grasp the "general nature" of capital-in-general.

But, to _fully_ grasp the nature of capital-in-general and its real existence

we have to comprehend the development of the credit system and

competition on world markets.  I.e. we have to move _beyond_  _Capital_.

 

 

I hope you are enjoying this discussion.

 

 

In solidarity, Jerry