Turnover of industrial capital, commercial and bank credit: modern Unoist approach 2. Turnover of the industrial capital
2. Turnover of the industrial capital 2.1 Premises of Turnover in Marx’s Capital Marx analyzed turnover as consisting of production and circulation. He sometimes discussed shortening the total turnover time by reducing the circulation period (e.g., Marx 1973, 659; Marx 1978, Chapter 14). After introducing the concept of continuous production through added capital in Chapter 15 of Capital Volume II, the focus shifted to how circulation length affects the amount of capital that must be advanced and the volume of idle money (Marx 1978, 358). In Chapter 15, Marx made several assumptions to clarify the nature of industrial capital, differs from the general formula for capital, M-C-M’. We regroup the ten assumptions in Saros 2008 (195) as follows. A. Basic assumption on turnover. A-1. Production is continuous (Marx 1978, 334) A-2. No fixed capital is assumed (Marx 1978, 354) A-3. All production time is working time (Marx 1978, 334) A-4. Surplus value is set asid...
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