"This final product of the circulation of commodities is the first form in which capital appears. As a matter of history, capital, as opposed to landed property, invariably takes the form at first of money;it appears as moneyed wealth, as the capital of the merchant and of the usurer... We can see it daily under our very eyes. All new capital, to commence with, comes on the stage, that is, on the market, whether of commodities, labour, or money, even in our days, in the shape of money that by a definite process has to be transformed into capital." Here once again Marx is stating a fact. Unable to dispute it, Herr Dühring distorts it: Capital, he has Marx say, is born of money!
Marx then investigates the processes by which money is transformed into capital, and finds, first, that the form in which money circulates as capital is the inversion of the form in which it circulates as the general equivalent of commodities. The ****** owner of commodities sells in order to buy; he sells what he does not need, and with the money thus procured he buys what he does need. The incipient capitalist starts by buying what he does not need himself; he buys in order to sell, and to sell at a higher price, in order to get back the value of the money originally thrown into the transaction, augmented by an increment in money; and Marx calls this increment surplus-value.
Whence comes this surplus-value? It cannot come either from the buyer buying the commodities under their value, or from the seller selling them above their value. For in both cases the gains and the losses of each individual cancel each other, as each individual is in turn buyer and seller.
Nor can it come from cheating, for though cheating can enrich one person at the expense of another, it cannot increase the total sum possessed by both, and therefore cannot augment the sum of the values in circulation.
"The capitalist class, as a whole, in any country, cannot over-reach themselves."And yet we find that in each country the capitalist class as a whole is continuously enriching itself before our eyes, by selling dearer than it had bought, by appropriating to itself surplus-value. We are therefore just where we were at the start: whence comes this surplus-value? This problem must be solved, and it must be solved in a purely economic way, excluding all cheating and the intervention of any force -- the problem being: how is it possible constantly to sell dearer than one has bought, even on the hypothesis that equal values are always exchanged for equal values?
The solution of this problem was the most epoch-****** achievement of Marx's work. It spread the clear light of day through economic domains in which socialists no less than bourgeois economists previously groped in utter darkness. Scientific socialism dates from the discovery of this solution and has been built up around it.
This solution is as follows: The increase in the value of money that is to be converted into capital cannot take place in the money itself, nor can it originate in the purchase , as here this money does no more than realise the price of the commodity, and this price, inasmuch as we took as our premise an exchange of equivalents, is not different from its value. For the same reason, the increase in value cannot originate in the sale of the commodity. The change must, therefore, take place in the commodity bought; not however in its value , as it is bought and sold at its value, but in its use-value as such, that is, the change of value must originate in the consumption of the commodity.
