From Marxists Internet Archive 
 
Karl Marx
Capital Volume III
The Process of Capitalist
Production as a Whole
Written:
Karl Marx, 1863-1883, edited by Friedrick Engels and completed by him 11 years
after Marx's death; 
Source: Institute of Marxism-Leninism, USSR, 1959; 
Publisher: International Publishers, NY, [n.d.] 
First Published: 1894; 
On-Line Version: Marx.org 1996, Marxists.org 1999; 
Transcribed: in 1996 by Hinrich Kuhls, Dave Walters
and Zodiac, and by Tim Delaney and M. Griffin in 1999; 
HTML Markup: Zodiac 1996, Tim Delaney and M. Griffin
in 1999; 
Proofed and Corrected: by Chris Clayton 2006-7. 
 
Contents
Preface 
Part I 
The Conversion of Surplus-Value into Profit and of 
the Rate of Surplus-Value into the Rate of Profit
Ch. 1: Cost-Price
and Profit 
Ch. 2: The
Rate of Profit 
Ch. 3: The
Relation of the Rate of Profit to the Rate of Surplus-Value 
Ch. 4: The
Effect of the Turnover on the Rate of Profit 
Ch. 5: Economy
in the Employment of Constant Capital 
Ch. 6: The
Effect of Price Fluctuations 
Ch. 7: Supplementary
Remarks 
 
Part II 
Conversion of Profit into Average Profit
Ch. 8: Different
Compositions of Capitals in Different Branches of Production and Resulting
Differences in Rates of Profit 
Ch. 9: Formation
of a General Rate of Profit (Average Rate of Profit) and Transformation of the
Values of Commodities into Prices of Production 
Ch. 10: Equalisation
of the General Rate of Profit Through Competition. Market-Prices and
Market-Values. Surplus-Profit. 
Ch. 11: Effects
of General Wage Fluctuations on Prices of Production 
Ch. 12: Supplementary
Remarks 
 
Part III 
The Law of the Tendency of the Rate of Profit to Fall
Ch. 13: The
Law as Such 
Ch. 14: Counteracting
Influences 
Ch. 15: Exposition
of the Internal Contradictions of the Law 
 
Part IV 
Conversion of Commodity-Capital and Money-Capital into Commercial 
Capital and Money-Dealing Capital (Merchant's Capital)
Ch. 16: Commercial
Capital 
Ch. 17: Commercial
Profit 
Ch. 18: The
Turnover of Merchant's Capital 
Ch. 19: Money-Dealing
Capital 
Ch. 20: Historical
Facts about Merchant's Capital 
 
Part V 
Division of Profit into Interest and Profit of Enterprise. 
Interest-Bearing Capital.
Ch. 21: Interest-Bearing
Capital 
Ch. 22: Division
of Profit. Rate of Interest. Natural Rate of Interest. 
Ch. 23: Interest
and Profit of Enterprise 
Ch. 24: Externalisation
of the Relations of Capital in the Form of Interest-Bearing Capital 
Ch. 25: Credit
and Fictitious Capital 
Ch. 26: Accumulation
of Money-Capital. Its Influence on the Interest Rate. 
Ch. 27: The
Role of Credit in Capitalist Production 
Ch. 28: Medium
of Circulation and Capital; Views of Tooke and Fullarton 
Ch. 29: Component
Parts of Bank Capital 
Ch. 30: Money-Capital
and Real Capital. I 
Ch. 31: Money-Capital
and Real Capital. II 
Ch. 32: Money-Capital
and Real Capital. III 
Ch. 33: The
Medium of Circulation in the Credit System 
Ch. 34: The
Currency Principle and the English Bank Legislation of 1844 
Ch. 35: Precious
Metal and Rate of Exchange 
Ch. 36: Pre-Capitalist
Relationships 
 
Part VI 
Transformation of Surplus-Profit into Ground-Rent
Ch. 37: Introduction 
Ch. 38: Differential
Rent: General Remarks 
Ch. 39: First
Form of Differential Rent (Differential Rent I) 
Ch. 40: Second
Form of Differential Rent (Differential Rent II) 
Ch. 41: Differential
Rent II — First Case: Constant Price of Production 
Ch. 42: Differential
Rent II — Second Case: Falling Price of Production 
Ch. 43: Differential
Rent II — Third Case: Rising Price of Production 
Ch. 44: Differential
Rent Also on the Worst Cultivated Soil 
Ch. 45: Absolute
Ground-Rent 
Ch. 46: Building
Site Rent. Rent in Mining. Price of Land. 
Ch. 47: Genesis
of Capitalist Ground-Rent 
 
Part VII 
Revenues and their Sources
Ch. 48: The
Trinity Formula 
Ch. 49: Concerning
the Analysis of the Process of Production 
Ch. 50: Illusions
Created by Competition 
Ch. 51: Distribution
Relations and Production Relations 
Ch. 52: Classes 
 
Frederick Engels. 
Supplement to Capital, Volume Three
A) Introduction 
B) The
Law of Value and Rate of Profit 
C) The
Stock Exchange 
 
Fragment
on Heine 
 
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