Download Capital: A Critique of Political Economy, Volume 3 by Karl Marx PDF

By Karl Marx

This model has been conscientiously and lovingly OCR'd (using ClearScan) from the easiest to be had scanned model. i've got additionally further the entire desk of contents (as PDF bookmarks). this can be a superb reproduction if you happen to have to cite pages, and have an interest during this translation (much higher than the translation in my opinion).

Unfinished on the time of Marx's loss of life in 1883 and primary released with a preface via Frederick Engels in 1894, the 3rd quantity of "Das Kapital" strove to mix the theories and ideas of the 2 past volumes on the way to end up conclusively that capitalism is inherently unworkable as an enduring approach for society. the following, Marx asserts controversially that - whatever the efforts of person capitalists, public professionals or maybe beneficiant philanthropists - any marketplace financial system is necessarily doomed to suffer a sequence of worsening, explosive crises best eventually to accomplish cave in. yet he additionally deals an inspirational and compelling prediction: that the top of capitalism will culminate, finally, within the start of a much larger kind of society.

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Additional resources for Capital: A Critique of Political Economy, Volume 3

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Domar, Essays in t he Theory ofEconomic Growth, · New York, 1957; etc. •, · 50 Introduction capital. 73 Credit expansion, for a certain time, covers the gap. But it can only postpone the crash, not avoid it. Overproduction now tends to spread from department II to department I. 74 Growing over­ production of commodities (over-capacity in a growing number of branches of industry), combined with growing over-accumu­ lation, must of necessity lead to sharp cut-backs in productive investment. Disproportionality between the two departments now jumps from an 'over-extension' of department I into an 'under­ development' of that department.

See the numerous monographs on specific branches of ind ustry which I cited in Late Capitalism, op. , pp. 199-204; 48. Apart from Volumes 2 and 3 of Capital, Marx's main contributions to crisis theory are to be found in Theories of Surplus- Value, London, 1969-72, and in his articles on current economic crises: see, for example, 'The State of Trade' (Neue Rheinische Zeitung, 7 March 18 49), in Marx/Engels, Collected Works, Vol. 9, pp. 3 -8; or various articles written in 1853 and 1856-7 for the New York Daily Tribune (Collected Works, Vols.

Uneven, disharmoni­ ous, mode of economic growth, which unavoidably leads to successive phases of declining rates of profit, and recuperation of the rate of profit as a result, precisely, of the consequences of the previous decline. This is true at least of the way in which this law operates over the seven-ten-year time-span -leaving aside, for the moment, the memento mori it implies for capitalism in a secular ·perspective. There can be little doubt that this multi-causal explanation of ·capitalist crisis, rather than any of the mono-causal variants, corresponds to Marx's own conviction, at least as expressed here .

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