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15. The Labour, Production and Circulation Periods

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Chapter Summary

This chapter first presents a brief definition of labour, production and circulation periods. The notions of 'fixed capital' and 'circulating capital' are part of the same temporality as the notion of the 'working period'. The first two relate to the turnover modes of the means of production, while the latter refers to the turnover mode of the product. The production time or period necessarily includes the working period, but it is not necessarily equal to it. The chapter then examines the quantitative relations between the three functional fractions of capital. Engels's problems stem from the calculations done by Marx with the aim of determining, as precisely as possible, the quantitative relation between the different functional fractions of capital on the basis of the turnover time. The multitude of factors determining this relation only allows for a very approximate presentation of reality.

Keywords: circulating capital; circulation period; fixed capital; production period; turnover time; working period



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