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16. The Annual Turnover of Social Capital (The Schemas of Reproduction)

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Chapter Summary

Individual capitals are fractions of the social capital. Their turnover movements are, at the same time, the particular links of the turnover of social capital. The turnover of social capital is a periodical reproduction of the prevailing social relations, value, and use-value, on an expanded scale. It implies that the singular capitals find on the market the means of production, the labour-power, and the sales markets, they need. This chapter presents Marx's schemas of reproduction, and then analyses their economic meaning. Marx divides the branches of production into two large sections according to whether they produce means of production (department I) or means of consumption (department II). The annual gross value is broken into two fractions: the value produced by department I, and that produced by department II. Marx's schemas of reproduction have been much better understood, refined and applied by contemporary authors in order to explain various phenomena.

Keywords: annual turnover; individual capitals; labour-power; Marx's schemas of reproduction; sales markets; social capital



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