著者

宮田 惟史

出版者

経済理論学会

雑誌

季刊経済理論 (ISSN:18825184)

巻号頁・発行日

vol.48, no.1, pp.60-71, 2011

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The aim of this paper is to analyze the relation between the law of the tendential fall in the general rate of profit and crisis, based on K. Marx's manuscript of Capital Volume III Part three (MEGA II/4.2). As is generally known, there are many controversies about the law of the tendential fall in the general rate of profit considered by Capital Volume III Part three. Especially the arguments have been done within the relation between crisis and "an absolute overproduction of capital" and also "overproduction of commodities", which is depicted in the Part three Chapter 15. One main argument is pointed out by Uno [1974a] who understands crisis from the point of "an absolute overproduction of capital" occurred by a rise in wages. Another key point is discussed by Imura [1984] who explains crisis based on "overproduction of commodities" after rejecting the concept of "an absolute overproduction of capital" as "an extreme hypothesis". Finally Tomituka [1975] mentioned because "these two concepts simultaneously have the antinomic character" they should be understood in an integrated sphere. However, as far as I am concerned, the most significant problem that is common to their arguments, would be that these are dealt with within the area that the law of the tendential fall in the general rate of profit are not basically relating to the moments of crisis. These common views are shown by their thoughts that the law should be separated from the description of crisis in Chapter 15, as the subject of the Chapter 15 should not be understood "Development of the Law's Internal Contradictions", but "'Development of Inner Contradictions' of the capitalist production in the development of the productivity and the progress of the capital accumulation" or "Development of Inner Contradictions of the method of capitalist production" (Imura [1984] p.193, Uno [1974a] p.170, Tomituka [1994] p.79). In other words, even though the disputants admit the law, the generally accepted opinion within hitherto studies is that the law does not have an impact on crisis and the industrial cycle in the short term but only fanctions in the long term. So the arguments have been done over the account of the crisis in Chapter 15 on the premises that the law does not have a direct relation to crisis. As the original manuscript of Capital Volume III Part three was released, it is now clear that some statements and paragraphs were removed and moved around respectively by F. Engels and even he made up all of the titles and sections. In order to discuss the relation between the law of the tendential fall in the general rate of profit and crisis, we should carefully reconsider the concept of "an overproduction of capital" which is one of the significant focus points. In a separate account from "an absolute overproduction of capital" there is a statement about "real overproduction of capital (die wirkliche Ueberproduction von Capital)" in the original draft. Interestingly in this text Marx recognises "an absolute overproduction of capital" not as "an extreme hypothesis" as Imura [1984] mentioned, but as a real possible situation. Morover, there is an original statement about "a rise in wages" as the moment of crisis, relating to "an absolute overproduction of capital", too. In this paper, on the basis of the above arguments which should be reconsidered based on the original manuscript, it will demonstrate how Marx grasped the logical relation between the law of the tendential fall in the general rate of profit and crisis.