Karl Marx's
Capital
Volume II
Written: by Marx 1863 - 1878 and edited for publication by
Engels in 1885;
Published: this revised second edition in 1893;
Source: Progress Publishers, Moscow 1956, translated by I.
Lasker;
Transcribed for the Internet: by proletarian revolutionaries in
the Philippines;
HTML mark-up: in 1997 for MEIA by Doug Hockin;
Proofread: and corrected by Chris Clayton 2007.
PDF Version of whole book.
Table of Contents
1885 Preface (Frederick Engels)
1893 Preface to the Second Edition (Frederick Engels)
Book II: The Process of Circulation of Capital
Part One:
The Metamorphoses of Capital and
their Circuits
Chapter 1: The Circuit of Money-Capital
1. First Stage. M-C
2. Second Stage. Function of Productive Capital
3. Third Stage. C'-M'
4. The Circuit as a Whole
Chapter 2: The Circuit of Productive Capital
1. Simple Reproduction
2. Accumulation and Reproduction on an Extended Scale
3. Accumulation of Money
4. Reserve Fund
Chapter 3: The Circuit of Commodity-Capital
Chapter 4: The Three Formulas of the Circuit
Natural, Money and Credit Economy
The Meeting of Demand and Supply
Chapter 5: The Time of Circulation
Chapter 6: The Costs of Circulation
1. Genuine Costs of Circulation
(a) The Time of Of Purchase and Sale
(b) Book-keeping
(c) Money
2. Costs of Storage
(a) Formation of Supply in
General
(b) The Commodity-Supply
Proper
3. Costs of Transportation
Part Two:
The Turnover of
Capital
Chapter 7: The Turnover Time
and Number of Turnovers
Chapter 8: Fixed Capital and
Circulating Capital
1. Distinctions of Form
2. Components, Replacement,
Repair and Accumulation of
the Fixed Capital
Chapter 9: The Aggregate
Turnover of the Capital Advanced.
Cycles of Turnover
Chapter 10: Theories of Fixed and
Circulating Capital
The Physiocrats and
Adam Smith
Chapter 11: Theories of Fixed and
Circulating Capital. Ricardo and
Chapter 12: The Working Period
Chapter 13: The Time of
Production
Chapter 14: The Time of
Circulation
Chapter 15: Effect of Turnover
Time on Magnitude of Advanced
Capital
1. The Working Period Equal
to the Circulation Period
2. The Working Period
Greater Than the Period of
Circulation
3. The Working Period
Smaller Than the Circulation
Period
4. Conclusions
5. The Effect of Change of
Prices
Chapter 16: The Turnover of
Variable Capital
1. The Annual Rate of
Surplus-Value
2. The Turnover of an
Individual Variable Capital
3. The Turnover of Variable
Capital from the Social Point
of View
Chapter 17: The Circulation of
Surplus-Value
1. Simple Reproduction
2. Accumulation and
Reproduction on an Extended
Scale
Part Three:
The Reproduction
and Circulation of the
Aggregate Social
Capital
Chapter 18: Introduction
1. The Subject Investigated
2. The Role of Money-Capital
Chapter 19: Former Presentations
of the Subject
1. The Physiocrats
2. Adam Smith
(a) Smith's
General Points
of View
(b) Adam Smith
Resolves
Exchange-Value
into v+s
(c) The Constant
Part of Capital
(d) Capital and
Revenue in
Adam Smith
(e)
Recapitulation
3. Later
Economists
Chapter 20: Simple
Reproduction (Part
1 of 4)
1. The
Formulation of
the Question
2. The Two
Departments of
Social
Production
3. Exchange
Between the
Two
Departments:
I(v+s) against
IIc
4. Exchange
Within
Department II.
Necessities of
Life and
Articles of
Luxury
5. The
Mediation of
the Exchange
by the
Circulation of
Money
(Chapter 20: Simple
Reproduction (Part
2 of 4))
6. The
Constant
Capital in
Department I
7. Variable
Capital and
Surplus-Value
in Both
Departments
8. The
Constant
Capital in Both
Departments
9. A Retrospect
to Adam Smith,
Storch and
Ramsay
10. Capital and
Revenue:
Variable
Capital and
Wages
(Chapter 20: Simple
Reproduction (Part
3 of 4))
11.
Replacement of
the Fixed
Capital
(
a
)
R
e
p
l
a
c
e
m
e
n
t
o
f
t
h
e
W
e
r
a
a
n
d
T
e
a
r
P
o
r
t
i
o
n
o
f
t
h
e
V
a
l
u
e
i
n
t
h
e
F
o
r
m
o
f
M
o
n
e
y
(
b
)
R
e
p
l
a
c
e
m
e
n
t
o
f
F
i
x
e
d
C
a
p
i
t
a
l
i
n
K
i
n
d
(
c)
R
e
s
u
l
t
s
(Cha
pter
20:
Simp
le
Repr
oduct
ion
(Part
4 of
4))
1
2
.
T
h
e
R
e
p
r
o
d
u
c
t
i
o
n
o
f
t
h
e
M
o
n
e
y
M
a
t
e
r
i
a
l
1
3
.
D
e
s
t
u
t
t
d
e
T
r
a
c
y
'
s
T
h
e
o
r
y
o
f
R
e
p
r
o
d
u
c
t
i
o
n
Chap
ter 21:
Accu
mula
tion
and
Repr
oduct
ion
on an
Expa
nded
Scale
(part
1 of
2)
1
.
A
c
c
u
m
u
l
a
t
i
o
n
i
n
D
e
p
a
r
t
m
e
n
t
I
(
a
)
T
h
e
F
o
r
m
a
t
i
o
n
o
f
a
H
o
a
r
d
(
b
)
T
h
e
A
d
d
i
t
i
o
n
a
l
C
o
n
s
t
a
n
t
C
a
p
i
t
a
l
(
c
)
T
h
e
A
d
d
i
t
i
o
n
a
l
V
a
r
i
a
b
l
e
C
a
p
i
t
a
l
2
.
A
c
c
u
m
u
l
a
t
i
o
n
i
n
D
e
p
a
r
t
m
e
n
t
I
I
(
C
h
a
p
t
e
r
2
1
:
A
c
c
u
m
u
l
a
t
i
o
n
a
n
d
R
e
p
r
o
d
u
c
t
i
o
n
o
n
a
n
E
x
p
a
n
d
e
d
S
c
a
l
e
(
p
a
r
t
2
o
f
2
)
)
3
.
S
c
h
e
m
a
t
i
c
P
r
e
s
e
n
t
a
t
i
o
n
o
f
A
c
c
u
m
u
l
a
t
i
o
n
(
a
)
F
i
r
s
t
I
l
l
u
s
t
r
a
t
i
o
n
(
b
)
S
e
c
o
n
d
I
l
l
u
s
t
r
a
t
i
o
n
(
c
)
R
e
p
l
a
c
e
m
e
n
t
o
f
I
I
c
,
i
n
A
c
c
u
m
u
l
a
t
i
o
n
4
.
S
u
p
p
l
e
m
e
n
t
a
r
y
R
e
m
a
r
k
s
M
a
r
x
-
E
n
g
e
l
s
