Review Articles • 251
1
Marx 1962a, pp. 12, 15–16.
2
Marx 1964a, p. 452; 1992, p. 502; emphasis in the manuscript, not in Engels edition.
3
Marx 1956, p. 21; 1964a, p. 823; 1992, p. 843.
4
See Marx 1966b, pp. 71–3; 1971, p. 75.
of ‘communist class structure’. However, before we come to look at those interestingideas, it is, perhaps, only proper to say a few words about the authors’ view of Marx’sapproach to capitalism.According to the authors, Marx’s analysis of capitalism ‘concentrated on the particularkind of capitalism dominant in his day’, that is, ‘private capitalism’. To ‘understand’this he devised his value formula (c
+
v
+
s = w) (pp. 13, 86, 171). To support thiscontention, they refer to the well-known opening lines of
Capital
about capitalist‘wealth’ consisting of an ‘immense accumulation of commodities’ where the ‘individualcommodity appears as its elementary form’. They interpret this to mean the ‘exchangeof privately owned and produced commodities’. Unfortunately, we do not agree withthis reading of Marx. To start with, Marx’s
Capital
is an ‘enquiry into the capitalistmode of production and corresponding relations of circulation’ with a view to‘discovering the law of motion of the modern society.’
1
It is a question of capital
assuch
independently of the specific juridical form of ownership, whether ‘private’ or‘public’ (state). In his manuscript for
Capital
, Volume III, composed before
Capital
,Volume I, Marx takes full account of the evolution of capital’s ownership form, which,he argues, is dictated entirely by the demands of capital accumulation, till the stagewhen capital remains no longer ‘private’ and becomes ‘directly social’ – signifyingthe ‘abolition of capital as private property
within
the limits of the capitalist mode ofproduction itself’.
2
On the other hand, virtually neglected by Marx’s partisans as well as by his detractorsand, needless to say, totally unrecognised by bourgeois jurisprudence, private ownershipof capital has another and more profound meaning in Marx – beyond that of individualprivate ownership by household or by corporation. In this sense, capital is
always
private property even when it exists in the form of ‘public’ (state) property. This isthe sense in which Marx speaks of the objective conditions of labour becoming capital:when, separated from the immediate producers and confronting them as an ‘autonomouspower’, they are ‘monopolised by a part of society’ as ‘private property of a part ofsociety’.
3
They become the ‘class property’ of the capitalist class.
4
Private ownershipof capital disappears only with capital itself, that is, only when the conditions ofproduction are collectively appropriated by the associated producers themselves.With regard to the ‘individual commodity as the elementary form of capitalistwealth’, the ‘individual commodity’ does not necessarily mean ‘
privately owned
andproduced commodities’ as the authors contend (our emphasis). When Marx speaksof the commodity as a product of ‘private labour’, ‘private’ does not necessarily mean juridical private
ownership
. ‘Private’, in this case, means not directly social labour,
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