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Fictitious capital (German: fiktives Kapital) is a concept used by Karl Marx in his critique of political economy. It is introduced in chapter 25 of the third volume of Capital . [ 1 ] Fictitious capital contrasts with what Marx calls "real capital", which is capital actually invested in physical means of production and workers, and "money ...
Balomenos, Christos [2024] Did Engels’ editing of Capital, Volume 3 distort Marx's analysis of the ‘tendency of the rate of profit to fall’? in Capital & Class 1–21 2024; Bell, Peter and Cleaver, Harry [1982] Marx's Theory of Crisis as a Theory of Class Struggle first published in 'Research in Political Economy', Vol 5(5): 189–261, 1982
In crisis theory, a crisis of capital occurs due to what Karl Marx refers to as the internal contradictions inherent in the capitalist system which result in the reconfiguration of production. The contradiction in this situation is realized because of the condition of capitalism that requires the accumulation of capital through the continual ...
A periodization of capitalism seeks to distinguish stages of development that help understanding of features of capitalism through time. The best-known periodizations that have been proposed distinguish these stages as:
Capital. A Critique of Political Economy. Volume I: The Process of Production of Capital (German: Das Kapital.Kritik der politischen Ökonomie Erster Band. Buch I: Der Produktionsprocess des Kapitals) is the first of three treatises that make up Das Kapital, a critique of political economy by the German philosopher and economist Karl Marx.
In Das Kapital (1867), Marx proposes that the motivating force of capitalism is in the exploitation of labor, whose unpaid work is the ultimate source of surplus value.The owner of the means of production is able to claim the right to this surplus value because they are legally protected by the ruling regime through property rights and the legally established distribution of shares which are ...
In Capital Volume 3, which he drafted before Volume I, Marx shows he was well aware of this. He distinguished not only between "real capital" (physical, tangible capital assets) and "money capital", [106] but also noted the existence of "fictitious capital" [107] and pseudo-commodities that strictly speaking have only symbolic value. [108]
Marx never provided a complete definition of the capitalist mode of production as a short summary, although in his manuscripts he sometimes attempted one. In a sense, it is Marx's three-volume work Capital (1867–1894; sometimes known by its German title, Das Kapital), as a whole that provides his "definition" of the capitalist mode of ...