An Outline of the Dialectic of Capital Volume 1 by Thomas T. Sekine

By Thomas T. Sekine

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Com - licensed to McGill University - PalgraveConnect - 2013-10-08 Introduction Introduction society. Instead of being confined, as always before, to a narrow locality, Capitalism - again with a capital C - took over all of Western and Northern Europe in a mere one hundred years from 1750 to 1850. Then, within another fifty years, it took over the entire inhabited world" (pp. 20-1). Roughly speaking, my capitalism-I and capitalism-II correspond to Drucker's "capitalism with lowercase c" and "Capitalism with capital C".

In other words, it is a good or use-value. 1057/9780230372207 - An Outline of the Dialectic of Capital, Thomas T. 1 The Doctrine of Circulation strictly speaking, refers to the physical properties of wealth, goods or products which are in some sense useful to the consumer. All goods, whether they are commodities or not, possess a use-value or "are" use-values in this broad sense. Yet, goods do not, because they each have a use-value, automatically develop into commodities. They become commodities only under a definite set of social relations.

The prosperity phase of a business cycle is divided into the sub-phases of recovery, average activity and precipitancy. It is in the sub-phase of average activity that the capitalist economy comes closest to achieving an optimal allocation of resources. In this book, assuming an ideal use-value space, I demonstrate the logical underpinnings of these observations. In a historical capitalism, however, because the use-value space is less than ideal, these results will appear more or less imperfectly.

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