by Andreas Peglau

What is „capital“?
Marx’s three-volume work of the same name does not provide a definition of the subject referred to in the title, but rather a multitude of sometimes contradictory statements on the subject. [1]
A small selection: Capital is what becomes of a value that is ‚exploited‘ and turns into ’surplus value‘.[2] „Every new capital enters the stage for the first time […] still as money, […] which is to be transformed into capital through certain processes.“[3] „Capital is money, capital is commodity.“[4] In the third volume of Capital, it then states:
„But capital is not a thing, but a specific social relation of production belonging to a specific historical social formation, which is represented by a thing. Capital is not the sum of the material and produced means of production. Capital is the means of production transformed into capital, which in themselves are as little capital as gold and silver are money in themselves. It is the means of production monopolised by a certain section of society, which have become independent of living labour and the conditions under which this labour is performed.“[5]
According to Marx, capital is therefore simultaneously surplus value, money, commodities, products and means of production. But he believes that it is nevertheless „not a thing“ – rather, it is a production relationship, and thus, in his understanding, an extremely comprehensive category that includes raw materials, means of production and human labour, as well as the processes that take place between them and the existing „conditions of activity“.[6] Weiterlesen →