Translator’s Note

Introduction (Fred Moseley)

Marx’s Economic Manuscript of 1864–1865. Translation

Chapter One. The Transformation of Surplus-Value into Profit

1. Surplus-Value and Profit

[2. Cost Price]

[The Relationship between the Rate of Profit and the Rate of Surplus-value] For 1) and 2). Conclusion to the note.

3. Economy In The Use Of Constant Capital

4. The Effect of Changes in Raw Material Prices

5. Release and Tying-up of Capital. Depreciation and Appreciation, Revaluation and Devaluation of Capital

6. The Influence of Changes in Circulation Time, its Shortening or Lengthening (and also changes in the means of communication connected with this) on the Rate of Profit

7. Profit (as it appears to the bourgeois)

Chapter Two. The Transformation of Profit into Average Profit

1. Different Compositions of Capital in Different Branches of Production and the Resulting Variation in Rates of Profit

2. Formation of a General Rate of Profit (Average Profit) and Transformation of Commodity Values into Prices of Production

3. The Equalisation of the General Rate of Profit through Competition. Market Prices and Market Values. Surplus Profit

4. The Effects of a General Increase or Reduction (Fall) in Wages on the Prices of Production of the Different Commodities

5. The Capitalist’s Grounds for Compensation

Supplement on Prices of Production

Supplement concerning the Transition from Chapter One to Chapter Two of this Book

The Production Price of Commodities of Average Composition

Chapter Three. The Law of the Tendential Fall in the General Rate of Profit with the Advance of Capitalist Production

Chapter Four. The Transformation of Commodity Capital and Money Capital into Commodity-Dealing Capital and Money-Dealing Capital or into Merchant’s Capital

1. Commodity-Dealing Capital (Commercial Profit)

2. Commercial Profit > And its Characteristics

3. The Turnover Of Mercantile Capital. Prices.

4. Money-Dealing Capital

5.

6.

Chapter Five. The Division of Profit Into Interest and Profit of Enterprise. Industrial or Commercial Profit). Interest-Bearing Capital

1. [Interest-Bearing Capital]

2. Division of Profit. Rate of Interest. The Natural Rate of Interest

3. Interest and Profit of Enterprise

4. The The Externalisation of Surplus-Value and the Capital Relation in General in the Form of Interest-Bearing Capital

5. Credit. Fictitious Capital

[Supplementary Material]

[The Role of Credit in Capitalist Production]

I.

II.

III.

The Confusion

III (Continued)

The Confusion (Continued)

6. Pre-Bourgeois Relations

Chapter Six. The Transformation of Surplus Profit into Ground-Rent

(a) Introduction

(c) Absolute Ground-Rent

(b) Differential Rent

[The First Form of Differential Rent]

[II The Second Form of Differential Rent]

First Case: Constant Price of Production

Second Case: Falling Price of Production

Third Case: Rising Price of Production

Chapter Seven. The Revenues (Income) and Their Sources

1. The Trinity Formula

2. [On the Analysis of the Production Process]

3. The Illusion [Schein] of Competition

4. Relations of Production and Distribution

5. Classes

Appendix

Bibliography

Index