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10. The Three Cycles/Circuits of Capital

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Chapter Summary

This chapter examines circulation in the broad sense of the term, the Kreislauf of capital, its cycle or circuit, namely, the circulation of capital as a phenomenon that includes the moment of production. The commodity capital form (as well as the money capital form) seems to appear twice. Labour-power (Lp) appears in the cycle of money capital as the middle-term between the universal commodity or money and the particular commodity that is produced. Only this particular commodity functions as commodity capital in the cycle. The process of circulation, and not that of production, serves as a means in a process whose aim is the reproduction of productive capital. Moreover, circulation in this cycle begins with the sale of commodities. During the sale of commodities, capital functions as commodity capital and is then fulfilled with the purchase of means of production, during which capital functions as monetary capital.

Keywords: commodity capital; labour-power; money capital; productive capital



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