PHIL 1010 Lecture Notes - Lecture 3: Proletariat
24 Dec 2016
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Document Summary
The difference between money that is merely money and money that is capital is in the form of their circulation. The simplest form of circulation of commodities is the formula cmc . Money becomes capital when it becomes the reverse formulation: mcm . This is the selling of the commodity for money and the use of that money to buy another commodity. This is the exchange of money for commodities and the exchange of those commodities for more money. Capital is actually the exchange of money for more money. The exchange of for some corn, and then the exchange of that corn for . There are essentially only two types of transactions: C-m: the exchange of a commodity for money, a sale. M-c: the exchange of money for a commodity, a purchase. The two formulae are resolvable into these two transactions. C-m-s beings with a sale and ends with a purchase.
