Karl Marx was born in 1818 in Trier, Germany and studied in Bonn and Berlin. Influenced by Hegel, he later reacted against idealist philosophy and began to develop his own theory of historical materialism. He related the state of society to its economic foundations and mode of production, and recommended armed revolution on the part of the proletariat. Together with Engels, who he met in Paris, he wrote the Manifesto of the Communist Party. He lived in England as a refugee until his death in 1888, after participating in an unsuccessful revolution in Germany.Ernst Mandel was a member of the Belgian TUV from 1954 to 1963 and was chosen for the annual Alfred Marshall Lectures by Cambridge University in 1978. He died in 1995 and the Guardian described him as 'one of the most creative and independent-minded revolutionary Marxist thinkers of the post-war world.'

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• Capital Volume 2 IntroductionTranslator's PrefacePreface (Frederick Engels)Preface to the Second Edition (Frederick Engels)Book II: The Process of Circulation of CapitalPart One: The Metamorphoses of Capital and their CircuitChapter 1: The Circuit of Money Capital1. First Stage. M-C2. Second Stage. The Function of Productive Capital3. Third Stage. C'-M'4. The Circuit as a WholeChapter 2: The Circuit of Productive Capital1. Simple Reproduction2. Accumulation and Reproduction on an Expanded Scale3. Accumulation of Money4. The Reserve FundChapter 3: The Circuit of Commodity CapitalChapter 4: The Three Figures of the Circuit(Natural Economy, Money Economy and Credit Economy)(The Matching of Demand and Supply)Chapter 5: Circulation TimeChapter 6: The Costs of Circulation1. Pure Circulation Costs(a) Buying and Selling Time(b) Book-keeping(c) Money2. Costs of Storage(a) Stock Formation in General(b) The Commodity Stock Proper3. Transport CostsPart Two: The Turnover of CapitalChapter 7: Turnover Time and Number of TurnoversChapter 8: Fixed Capital and Circulating Capital1. The Formal Distinctions2. Components, Replacement, Repairs and Accumulation of the Fixed CapitalChapter 9: The Overall Turnover of the Capital Advanced. Turnover CyclesChapter 10: Theories of Fixed and Circulating Capital. The Physiocrats and Adam SmithChapter 11: Theories of Fixed and Circulating Capital. RicardoChapter 12: The Working PeriodChapter 13: Production TimeChapter 14: Circulation TimeChapter 15: Effect of Circulation Time on the Magnitude of the Capital Advanced1. Working Period and Circulation Period Equal2. Working Period Longer than Circulation Period3. Working Period Shorter than Circulation Period4. Results5. Effect of Changes in PriceChapter 16: The Turnover of Variable Capital1. The Annual Rate of Surplus-Value2. The Turnover of an Individual Variable Capital3. The Turnover of Variable Capital Considered from the Social Point of ViewChapter 17: The Circulation of Surplus-Value1. Simple Reproduction2. Accumulation and Expanded ReproductionPart Three: The Reproduction and Circulation of the Total Social CapitalChapter 18: Introduction1. The Object of the Inquiry2. The Role of Money CapitalChapter 19: Former Presentations of the Subject1. The Physiocrats2. Adam Smith(a) Smith's General Perspectives(b) Smith's Resolution of Exchange-Value into v+s(c) The Constant Capital Component(d) Capital and Revenue in Adam Smith(e) Summary3. Later WritersChapter 20: Simple Reproduction1. Formulation of the Problem2. The Two Departments of Social Production3. Exchange Between the Two Departments: I against II4. Exchange Within Department II. Necessary Means of Subsistence and Luxury Items5. The Mediation of the Exchanges by Monetary Circulation6. The Constant Capital in Department I7. Variable Capital and Surplus-Value in the Two Departments8. The Constant Capital in Both Departments9. A Look Back at Adam Smith, Storch and Ramsay10. Capital and Revenue: Variable Capital and Wages11. Replacement of the Fixed Capital(a) Replacement of the Depreciation Component in the Money Form(b) Replacement of the Fixed Capital in Kind(c) Results12. The Reproduction of the Money Material13. Destutt de Tracy's Theory of ReproductionChapter 21: Accumulation and Reproduction on an Expanded Scale1. Accumulation in Department I(a) Hoard Formation(b) The Additional Constant Capital(c) The Additional Variable Capital2. Accumulation in Department II3. Schematic Presentation of Accumulation(a) First Example(b) Second Example(c) The Exchange of II in the Case of Accumulation4. Supplementary RemarksQuotations in Languages Other than English and GermanIndex of Authorities QuotedGeneral IndexNote on Previous Editions of the Works of Marx and EngelsChronology of Works by Marx and Engels