In the first section, we ascertained that Marx’s diagram of accumulation

does not solve the question of who is to benefit in the end by enlarged

reproduction. If we take the diagram literally as it is set out at the end of

volume ii, it appears that capitalist production would itself realise its

entire surplus value, and that it would use the capitalised surplus value

exclusively for its own needs. This impression is confirmed by Marx’s

analysis of the diagram where he attempts to reduce the circulation

within the diagram altogether to terms of money, that is to say to the

effective demand of capitalists and workers-an attempt which in the

end leads him to introduce the ‘producer of money’ as a deus ex machina.

In addition, there is that most important passage in Capital, volume i,

which must be interpreted to mean the same.