ABSTRACT
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.
