Capital Study Series: Session 3


Read:

  • Capital, Chapter 4 – The General Formula for Capital
  • Capital, Chapter 5 – Contradictions in the General Formula of Capital
  • Capital, Chapter 6 – The Buying and Selling of Labour-Power

Watch:

Optional Reading:

Study Questions:

The questions below are borrowed from the Marxists Internet Archive

  1. Why is value only capital if it continuously metamorphoses M-C-M-C- etc., etc.? Give examples of money which is not capital and commodities which are not capital?
  2. What does Marx mean by “ the contradiction in the general formula of capital”?
  3. Value circulates and metamorphoses M-C-M-C- etc.,etc.. Why does Marx say M-C-M is the circuit of capital and what does C-M-C mean?
  4. What does Marx mean by saying that “merchants’ and interest-bearing capital are derivative forms”
  5. What do you make of Marx’s sarcastic comments about Jeremy Bentham, the founder of utilitarianism, at the close of this part?