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The Limits to Capital

The Limits to Capital

David Harvey

9182 pages

An exciting, insightful exposition and development of Marx s critique of political economy.

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Cover Page Halftitle Page Title Page Copyright Page Contents Introduction to the 2006 Verso Edition Introduction Chapter 1: Commodities, Values and Class Relations I. Use Values, Exchange Values and Values 1. Use values 2. Exchange value, money and the price system 3. The value theory 4. The theory of surplus value II. Class Relations and the Capitalist Principle of Accumulation 1. The class role of the capitalist and the imperative to accumulate 2. The implications for the labourer of accumulation by the capitalist 3. Class, value and the contradiction of the capitalist law of accumulation Appendix: The Theory of Value Chapter 2: Production and Distribution I. The Share of Variable Capital in the Total Social Product, The Value of Labour Power and Wage Rate Determination 1. The subsistence wage 2. Supply and demand for labour power 3. Class struggle over the wage rate 4. The accumulation process and the value of labour power II. The Reduction of Skilled to Simple Labour III. The Distribution of Surplus Value and the Transformation from Values into Prices of Production IV. Interest, Rent and Profit on Merchants’ Capital 1. Merchants’ capital 2. Money capital and interest 3. Rent on land 4. Distribution relations and class relations in historical perspective Chapter 3: Production and Consumption, Demand and Supply and the Realization of Surplus Value I. Production and Consumption, Demand and Supply and the Critique of Say’s Law II. The Production and Realization of Surplus Value 1. The time structure and costs of realization 2. The structural problems of realization III. The Problem of Effective Demand and the Contradiction between the Relations of Distribution and the Conditions of Realization of Surplus Value Chapter 4: Technological Change, The Labour Process and the Value Composition of Capital I. The Productivity of Labour Under Capitalism II. The Labour Process III. The Sources of Technological Change Under Capitalism IV. The Technical, Organic and Value Compositions of Capital V. Technological Change and Accumulation Chapter 5: The Changing Organization of Capitalist Production Chapter 6: The Dynamics of Accumulation I. The Production of Surplus Value and the General Law of Capitalist Accumulation II. Accumulation Through Expanded Reproduction III. The Falling Rate of Profit and its Countervailing Influences Chapter 7: Over accumulation, Devaluation and the ‘First-cut’ Theory of Crisis I. Overaccumulation and Devaluation of Capital II. The ‘Constant Devaluation’ of Capital which Results from the Rising Productivity of Labour III. Devaluation Through Crises Chapter 8: Fixed Capital I. The Circulation of Fixed Capital II. The Relations between Fixed and Circulating Capital III. Some Special Forms of Fixed Capital Circulation 1. Fixed capital of large scale and great durability 2. Fixed capital of an ‘independent’ kind IV. The Consumption Fund V. The Built Environment for Production, Exchange and Consumption VI. Fixed Capital, The Consumption Fund and the Accumulation of Capital Chapter 9: Money, Credit and Finance I. Money and Commodities II. The Transformation of Money into Capital III. Interest IV. The Circulation of Interest-Bearing Capital and the Functions of the Credit System 1. The mobilization of money as capital 2. Reductions in the cost and time of circulation 3. Fixed capital circulation and consumption fund formation 4. Fictitious capital 5. The equalization of the profit rate 6. The centralization of capital V. The Credit System: Instrumentalities and Institutions 1. The general principles of financial mediation: the circulation of capital and the circulation of revenues 2. Joint stock companies and markets for fictitious capital 3. The banking system 4. State institutions Chapter 10: Finance Capital and its Contradictions I. The Credit System According to Marx II. Finance Capital According to Lenin and Hilferding III. The Contradiction between the Financial System and its Monetary Basis IV. The Interest Rate and Accumulation V. The Accumulation Cycle 1. Stagnation 2. Recovery 3. Credit-based expansion 4. Speculative fever 5. The crash VI. The Politics of Money Management VII. Inflation as a Form of Devaluation VIII. Finance Capital and its Contradictions 1. Finance capital as the ‘class’ of financiers and money capitalists 2. Finance capital as the unity of banking and industrial capital 3. Finance capital and the state IX. The ‘Second-Cut’ Theory of Crises: The Relation between Production, Money and Finance Chapter 11: The Theory of Rent I. The Use Value of Land 1. The land as the basis for reproduction and extraction 2. Space, place and location 3. Location, fertility and prices of production II. Landed Property III. The Forms of Rent 1. Monopoly rent 2. Absolute rent 3. Differential rent IV. The Contradictory Role of Ground Rent and Landed Property within the Capitalist Mode of Production 1. The separation of the labourer from the land as means of production 2. Landownership and the principle of private property 3. Landed property and capital flow V. Distribution Relations and Class Struggle between Landlord and Capitalist VI. The Land Market and Fictitious Capital Chapter 12: The Production of Spatial Configurations: the Geographical Mobilities of Capital and Labour I. Transport Relations and the Mobility of Capital as Commodities II. The Mobility of Variable Capital and Labour Power III. The Mobility of Money Capital IV. The Location of Production Processes 1. Technology versus location as sources of relative surplus value 2. The turnover time of capital in production – geographical and temporal inertia and the problem of devaluation V. The Spatial Configuration of Built Environments VI. The Territoriality of Social Infrastructures VII. The Mobilities of Capital and Labour Taken as a Whole 1. Complementarity 2. Contradictions and conflict Chapter 13: Crises in the Space Economy of Capitalism: the Dialectics of Imperialism I. Uneven Geographical Development II. Geographical Concentration and Dispersal III. The Regionalization of Class and Factional Struggle IV. Hierarchical Arrangements and the Internationalization of Capital V. The ‘Third Cut’ at Crisis Theory: Geographical Aspects 1. Particular, individual and place-specific devaluation 2. Crisis formation within regions 3. Switching crises 4. Building new arrangements to co-ordinate spatial integration and geographical uneven development VI. Building Towards Global Crises 1. External markets and underconsumption 2. The export of capital for production 3. The expansion of the proletariat and primitive accumulation 4. The export of devaluation VII. Imperialism VIII. Inter-Imperialist Rivalries: Global War as the Ultimate form of Devaluation Notes Afterword References Name Index Subject Index

The Limits to Capital — Ominira