PHIL 1010 Lecture Notes - Lecture 10: Class Conflict, Feudalism, Bourgeoisie
23 Jan 2017
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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: this is the selling of commodity for money and the use of that money to buy another commodity. Money becomes capital when it becomes the reverse formulation: mcm: 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: These two formulae are resolvable into these two transactions: With m-c-m, one multiplies the money: the money is never really spent. In the formula c-m-c, the goal is a use-value: in the formula m-c-m the goal is more money, a surplus value.
