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From Marxists Internet Archive 
 Karl Marx 
Capital 
Volume II 
Written:
by Marx 1863 - 1878 and edited for publication by Engels in 1885; 
Published: this revised second edition in 1893; 
Source: Progress Publishers, Moscow 1956, translated
by I. Lasker; 
Transcribed for the Internet: by proletarian
revolutionaries in the Philippines; 
HTML mark-up: in 1997 for MEIA by Doug Hockin; 
Proofread: and corrected by Chris Clayton 2007. 
 
Table of Contents
1885
Preface (Frederick Engels) 
1893
Preface to the Second Edition (Frederick Engels) 
Book II: The Process of Circulation of Capital
Part One: 
The Metamorphoses of Capital and their Circuits
Chapter 1: The
Circuit of Money-Capital 
1. First
Stage. M-C 
2. Second
Stage. Function of Productive Capital 
3. Third
Stage. C'-M' 
4. The
Circuit as a Whole 
Chapter 2: The
Circuit of Productive Capital 
1. Simple
Reproduction 
2. Accumulation
and Reproduction on an Extended Scale 
3. Accumulation
of Money 
4. Reserve
Fund 
Chapter 3: The
Circuit of Commodity-Capital 
Chapter 4: The
Three Formulas of the Circuit 
Natural,
Money and Credit Economy 
The
Meeting of Demand and Supply 
Chapter 5: The
Time of Circulation 
Chapter 6: The
Costs of Circulation 
1. Genuine
Costs of Circulation 
(a) The
Time of Of Purchase and Sale 
(b) Book-keeping 
(c) Money 
2. Costs
of Storage 
(a) Formation
of Supply in General 
(b) The
Commodity-Supply Proper 
3. Costs
of Transportation 
Part Two: 
The Turnover of Capital
Chapter 7: The
Turnover Time and Number of Turnovers 
Chapter 8: Fixed
Capital and Circulating Capital 
1. Distinctions
of Form 
2. Components,
Replacement, Repair and Accumulation of the Fixed Capital 
Chapter 9: The
Aggregate Turnover of the Capital Advanced. Cycles of Turnover 
Chapter 10: Theories
of Fixed and Circulating Capital 
                 
 The Physiocrats and Adam Smith 
Chapter 11: Theories
of Fixed and Circulating Capital. Ricardo and 
Chapter 12: The
Working Period 
Chapter 13: The
Time of Production 
Chapter 14: The
Time of Circulation 
Chapter 15: Effect
of Turnover Time on Magnitude of Advanced Capital 
1. The
Working Period Equal to the Circulation Period 
2. The
Working Period Greater Than the Period of Circulation 
3. The
Working Period Smaller Than the Circulation Period 
4. Conclusions 
5. The
Effect of Change of Prices 
Chapter 16: The
Turnover of Variable Capital 
1. The
Annual Rate of Surplus-Value 
2. The
Turnover of an Individual Variable Capital 
3. The
Turnover of Variable Capital from the Social Point of View 
Chapter 17: The
Circulation of Surplus-Value 
1. Simple
Reproduction 
2. Accumulation
and Reproduction on an Extended Scale 
Part Three: 
The Reproduction and Circulation of the Aggregate Social Capital
Chapter 18: Introduction 
1. The
Subject Investigated 
2. The
Role of Money-Capital 
Chapter 19: Former
Presentations of the Subject 
1. The
Physiocrats 
2. Adam
Smith 
(a) Smith's
General Points of View 
(b) Adam
Smith Resolves Exchange-Value into v+s 
(c) The
Constant Part of Capital 
(d) Capital
and Revenue in Adam Smith 
(e) Recapitulation 
3. Later
Economists 
Chapter 20: Simple
Reproduction (Part 1 of 4) 
1. The
Formulation of the Question 
2. The
Two Departments of Social Production 
3. Exchange
Between the Two Departments: I(v+s) against IIc 
4. Exchange
Within Department II. Necessities of Life and Articles of Luxury 
5. The
Mediation of the Exchange by the Circulation of Money 
(Chapter 20: Simple
Reproduction (Part 2 of 4))
 6. The
Constant Capital in Department I 
7. Variable
Capital and Surplus-Value in Both Departments 
8. The
Constant Capital in Both Departments 
9. A
Retrospect to Adam Smith, Storch and Ramsay 
10. Capital
and Revenue: Variable Capital and Wages 
(Chapter 20: Simple
Reproduction (Part 3 of 4))
 11. Replacement
of the Fixed Capital 
(a) Replacement
of the Wera and Tear Portion of the Value in the Form of Money 
(b) Replacement
of Fixed Capital in Kind 
(c) Results 
(Chapter 20: Simple
Reproduction (Part 4 of 4))
 12. The
Reproduction of the Money Material 
13. Destutt
de Tracy's Theory of Reproduction 
Chapter 21: Accumulation
and Reproduction on an Expanded Scale (part 1 of 2) 
1. Accumulation
in Department I 
(a) The
Formation of a Hoard 
(b) The
Additional Constant Capital 
(c) The
Additional Variable Capital 
2. Accumulation
in Department II 
(Chapter 21: Accumulation
and Reproduction on an Expanded Scale (part 2 of 2)) 
3. Schematic
Presentation of Accumulation 
(a) First
Illustration 
(b) Second
Illustration 
(c) Replacement
of IIc, in Accumulation 
4. Supplementary
Remarks
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